Early Warning Release

Rhea-AI Summary

Brookfield, through its renewable power and transition business, has sold 8,600,000 common shares of TransAlta on the Toronto Stock Exchange. The transaction was completed at C$19.65 per share, generating approximately C$168,990,000 in gross cash consideration.

Prior to the transaction, Brookfield owned 35,523,345 shares (11.9% of TransAlta). Following the sale, Brookfield's ownership decreased to 26,923,345 shares, representing approximately 9% of TransAlta's outstanding shares - a reduction of 2.9%. The disposition aligns Brookfield's share ownership with certain threshold agreements.

While there are no immediate plans for further sales, Brookfield maintains the flexibility to modify its position based on various factors including share price, transaction terms, liquidity needs, and diversification objectives.

Positive

• Generated C$168.99 million in gross cash proceeds from share sale

Negative

• Reduction in strategic ownership position from 11.9% to 9%
• Potential for further share dispositions creating selling pressure

All amounts in Canadian dollars unless otherwise stated.

BROOKFIELD, NEWS, Jan. 07, 2025 (GLOBE NEWSWIRE) -- Brookfield, through its renewable power and transition business, alongside institutional partners (collectively, “Brookfield”), sold in aggregate 8,600,000 common shares (the “Common Shares”) in the capital of TransAlta Corporation (“TransAlta”) on the Toronto Stock Exchange for aggregate gross cash consideration of approximately C$168,990,000, at a price of C$19.65 per Common Share (the “Transaction”).

Prior to giving effect to the Transaction, Brookfield owned or had control over an aggregate of 35,523,345 Common Shares representing approximately 11.9% of the issued and outstanding Common Shares, calculated on an undiluted basis. Following the Transaction, Brookfield owned or had control over an aggregate of 26,923,345 Common Shares, representing approximately 9% of the issued and outstanding Common Shares, calculated on an undiluted basis, a decrease of approximately 2.9%. In accordance with National Instrument 62-103, an Early Warning Report with additional information in respect of the foregoing matters will be filed by Brookfield in respect of the Transaction. A copy of such report may be obtained from the SEDAR+ profile of TransAlta at www.sedarplus.ca.

The disposition of the Common Shares more closely aligns Brookfield’s aggregate share ownership with certain thresholds under various agreements. Although there are no current specific plans or proposals for further dispositions of the Common Shares, Brookfield may, at any time and from time to time, subject to compliance at all relevant times with certain agreements and regulatory requirements and applicable securities laws, terminate in whole or in part, dispose of or distribute some or all of its Common Shares or such other securities it owns or may subsequently acquire, depending on various factors, including the price of the Common Shares; terms and conditions applicable to any potential transaction; liquidity and diversification objectives of Brookfield; and such other factors that it deems relevant at any time or from time to time.

TransAlta’s head office is located at Transalta Place, 1400-1100 1st St S.E., Calgary, Alberta, T2G 1B1, Canada.

For more information, please visit our website at www.bn.brookfield.com or contact:

Media  Kerrie McHugh Tel: (212) 618-3469 Email: kerrie.mchugh@brookfield.com	Investor Relations Angela Yulo Tel: (416) 943-7955 Email: angela.yulo@brookfield.com

FAQ

How many TransAlta shares did Brookfield sell in January 2025?

Brookfield sold 8,600,000 common shares of TransAlta at C$19.65 per share.

What was the total value of Brookfield's TransAlta share sale?

The total gross cash consideration for the transaction was approximately C$168,990,000.

What is Brookfield's current ownership percentage in TransAlta after the January 2025 sale?

Following the transaction, Brookfield owns approximately 9% of TransAlta's outstanding common shares.

By how much did Brookfield reduce its TransAlta ownership stake?

Brookfield reduced its ownership stake by approximately 2.9%, from 11.9% to 9%.

Will Brookfield sell more TransAlta shares in the future?

While there are no current specific plans, Brookfield may dispose of additional shares based on various factors including share price, liquidity needs, and diversification objectives.