RIT Capital Partners Cash Flow Statement

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

Millions GBP. 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	459.3	305	66.1	-577.2	859.2	Upgrade
Depreciation & Amortization	0.3	0.3	0.3	0.4	0.4	Upgrade
Loss (Gain) From Sale of Investments	-344.5	-408.9	-11.2	192.4	-807.6	Upgrade
Other Operating Activities	82.7	181.6	69.2	474.8	39.3	Upgrade
Change in Accounts Receivable	61.9	-51.9	174.1	17.5	-157.5	Upgrade
Change in Accounts Payable	-53.1	38.3	-24.3	-105.3	105.3	Upgrade
Change in Other Net Operating Assets	0.2	25.4	20	30.1	12.7	Upgrade
Operating Cash Flow	206.8	89.8	294.2	32.7	51.8	Upgrade
Operating Cash Flow Growth	130.29%	-69.48%	799.69%	-36.87%	-66.77%	Upgrade
Capital Expenditures	-0.4	-0.1	-0.3	-0.1	-0.1	Upgrade
Investing Cash Flow	-0.4	-0.1	-0.3	-0.1	-0.1	Upgrade
Long-Term Debt Issued	362	339.7	618.6	555.4	469.8	Upgrade
Long-Term Debt Repaid	-384.1	-288.8	-699.9	-591.6	-421.9	Upgrade
Net Debt Issued (Repaid)	-22.1	50.9	-81.3	-36.2	47.9	Upgrade
Repurchase of Common Stock	-95.9	-94.1	-172.9	-51.4	-22.4	Upgrade
Common Dividends Paid	-60.2	-56.5	-56.7	-57.6	-55	Upgrade
Financing Cash Flow	-178.2	-99.7	-310.9	-145.2	-29.5	Upgrade
Foreign Exchange Rate Adjustments	3	-4.9	3.3	4.7	6.9	Upgrade
Net Cash Flow	31.2	-14.9	-13.7	-107.9	29.1	Upgrade
Free Cash Flow	206.4	89.7	293.9	32.6	51.7	Upgrade
Free Cash Flow Growth	130.10%	-69.48%	801.53%	-36.94%	-66.80%	Upgrade
Free Cash Flow Margin	38.50%	23.90%	206.39%	-	5.63%	Upgrade
Free Cash Flow Per Share	1.47	0.62	1.95	0.21	0.33	Upgrade
Cash Interest Paid	33.6	33.4	34.4	25	20	Upgrade
Levered Free Cash Flow	237.89	292.39	194.01	-466.19	515.43	Upgrade
Unlevered Free Cash Flow	258.64	313.2	215.51	-450.75	527.74	Upgrade
Change in Working Capital	9	11.8	169.8	-57.7	-39.5	Upgrade

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