Botnia Gold AB Cash Flow Statement

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

Millions SEK. 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	48.96	22.34	-7.28	-7.59	-5.57	Upgrade
Depreciation & Amortization	32.9	9.14	-	-	-	Upgrade
Other Operating Activities	13.49	-28.73	0.14	0.18	0.18	Upgrade
Change in Accounts Receivable	-	-29.23	-0.13	0.17	2.25	Upgrade
Change in Other Net Operating Assets	-1.25	32.19	1.25	3.09	-0.46	Upgrade
Operating Cash Flow	94.11	5.71	-6.01	-4.14	-3.61	Upgrade
Operating Cash Flow Growth	1548.69%	-	-	-	-	Upgrade
Capital Expenditures	-	-45.38	-14.04	-1.89	-	Upgrade
Sale (Purchase) of Intangibles	-	1.09	-0.21	-2.05	-3.59	Upgrade
Investment in Securities	-	-0.67	-4.38	-	-	Upgrade
Other Investing Activities	-53.82	-	-	-	-	Upgrade
Investing Cash Flow	-53.82	-44.96	-18.63	-3.94	-3.59	Upgrade
Long-Term Debt Issued	-	17.28	2.96	-	-	Upgrade
Long-Term Debt Repaid	-	-4.96	-	-	-	Upgrade
Net Debt Issued (Repaid)	-	12.32	2.96	-	-	Upgrade
Issuance of Common Stock	-	-	-	68.68	9.82	Upgrade
Other Financing Activities	-0.14	-	-	-8.68	-0.12	Upgrade
Financing Cash Flow	-0.14	12.32	2.96	60.01	9.7	Upgrade
Net Cash Flow	40.14	-26.94	-21.69	51.92	2.51	Upgrade
Free Cash Flow	94.11	-39.67	-20.05	-6.03	-3.61	Upgrade
Free Cash Flow Margin	38.20%	-69.92%	-9413.61%	-275.40%	-100.59%	Upgrade
Free Cash Flow Per Share	2.28	-0.96	-0.49	-0.21	-0.12	Upgrade
Levered Free Cash Flow	82.69	-41.02	-18.59	-5.42	-5.28	Upgrade
Unlevered Free Cash Flow	83.16	-40.75	-18.43	-5.31	-5.17	Upgrade
Change in Working Capital	-1.25	2.96	1.13	3.26	1.79	Upgrade

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