SCHEDULE: FMR LLC Discloses 5.7% Stake in TransAlta Corp

FMR LLC and Abigail P. Johnson have disclosed a beneficial ownership of 5.7% in TransAlta Corp's common stock as of June 30, 2025.

Summary

• FMR LLC and Abigail P. Johnson have filed a Schedule 13G, reporting beneficial ownership of 16,916,767 shares of TransAlta Corp's common stock.
• This ownership represents 5.7% of the total outstanding common stock of TransAlta Corp.
• The filing indicates that FMR LLC holds sole voting and sole dispositive power over all 16,916,767 shares.
• Abigail P. Johnson, while listed as a reporting person, holds no sole or shared voting power, but shares sole dispositive power over the 16,916,767 shares.
• The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of TransAlta Corp.
• Fidelity Management & Research Company LLC, an investment adviser subsidiary of FMR LLC, beneficially owns 5% or greater of the outstanding shares.
• Members of the Johnson family, including Abigail P. Johnson, are the predominant owners of FMR LLC's Series B voting common shares (49% voting power) and may be deemed a controlling group for FMR LLC.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. It's a factual ownership disclosure, but the presence of a major institutional investor like FMR LLC holding a significant stake can be viewed as a positive signal of confidence in the company, even if it's a passive investment.

Positives

• A significant stake by a major institutional investor like FMR LLC can signal confidence in TransAlta Corp's long-term prospects.
• The filing explicitly states that the shares were acquired and are held in the ordinary course of business, not for control-influencing purposes, suggesting a passive investment stance.

Negatives

• No specific negative financial or operational details are provided in this ownership disclosure filing.

Risks

• The filing does not detail specific risks related to TransAlta Corp's operations or financial health, as it is an ownership disclosure.

Future Outlook

This filing is a disclosure of current beneficial ownership and does not contain forward-looking statements or guidance regarding TransAlta Corp's future outlook.

Management Comments

• The certification states that the securities were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer.

Industry Context

The disclosure of a significant stake by a major asset manager like FMR LLC in an energy company like TransAlta Corp reflects ongoing institutional investment activity in the utilities and power generation sector. Such investments are common for large funds seeking diversified exposure or long-term value in established industries.

Comparison to Industry Standards

• A 5.7% stake is a notable position for an institutional investor, typically triggering Schedule 13G reporting requirements under SEC rules.
• This level of ownership is common for large passive institutional investors in publicly traded companies across various industries, including utilities and energy.
• The structure of ownership, with a parent holding company (FMR LLC) and its CEO (Abigail P. Johnson) as reporting persons, is standard for large investment management firms.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional investor's stake may provide a degree of confidence or stability to the shareholder base.
• Company Management: Awareness of a large, passive institutional holder may influence investor relations strategies, but the filing explicitly states no intent to influence control.

Next Steps

• FMR LLC and Abigail P. Johnson will continue to file Schedule 13G or 13D amendments if their beneficial ownership percentage significantly changes (e.g., crosses 10% or drops below 5%) or if their investment intent changes from passive to active.

Key Dates

Keywords

TransAlta Corp, FMR LLC, Abigail P. Johnson, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, Shareholding, SEC Filing