Royalties Cash Flow Statement

Financials in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2020 - 2016
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	2020 - 2016
Net Income	-0.04	-0.39	-0.35	-0.12	-0.84	Upgrade
Depreciation & Amortization	0.01	0.01	0.02	-	-	Upgrade
Asset Writedown & Restructuring Costs	-	0.04	0.17	-	-	Upgrade
Stock-Based Compensation	-	-	-	-	0.04	Upgrade
Other Operating Activities	-0.14	0.21	-0.03	-0.01	0.29	Upgrade
Change in Accounts Receivable	-0	0.01	0	-0.01	0.02	Upgrade
Change in Accounts Payable	0.01	-0.01	0.28	0.05	-0.07	Upgrade
Change in Other Net Operating Assets	0.01	-0.01	-0.01	-	0.05	Upgrade
Operating Cash Flow	-0.15	-0.13	0.08	-0.09	-0.51	Upgrade
Sale (Purchase) of Intangibles	-	-	-0.43	-	-	Upgrade
Other Investing Activities	-	-	-	-0.28	-0.1	Upgrade
Investing Cash Flow	-	-	-0.43	-0.28	-0.1	Upgrade
Issuance of Common Stock	0.16	0.11	0.38	0.34	-	Upgrade
Financing Cash Flow	0.16	0.11	0.38	0.34	-	Upgrade
Net Cash Flow	0.01	-0.03	0.03	-0.03	-0.61	Upgrade
Levered Free Cash Flow	-0.24	0.16	-0.6	2.7	-0.3	Upgrade
Unlevered Free Cash Flow	-0.24	0.16	-0.6	2.71	-0.3	Upgrade
Change in Working Capital	0.02	-0.01	0.27	0.04	0	Upgrade

Source: S&P Capital IQ. Standard template. Financial Sources.