Highlander Silver Cash Flow Statement

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

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2025	FY 2024	FY 2023	FY 2022	2021 - 2019
Period Ending	Dec '25 Dec 31, 2025	Sep '25 Sep 30, 2025	Sep '24 Sep 30, 2024	Sep '23 Sep 30, 2023	Sep '22 Sep 30, 2022	2021 - 2019
Net Income	-13.58	-13.09	-3.09	-5.55	-0.72	Upgrade
Depreciation & Amortization	0.04	0.03	0.07	4.62	0.01	Upgrade
Loss (Gain) From Sale of Assets	-0.11	-0.14	-	-	-	Upgrade
Asset Writedown & Restructuring Costs	-	-	0.09	-	-	Upgrade
Stock-Based Compensation	1.83	2.06	0.63	0.24	0.4	Upgrade
Provision & Write-off of Bad Debts	0.15	0.18	0.09	0.08	-	Upgrade
Other Operating Activities	-0.91	-0.23	-0.15	-0.04	-	Upgrade
Change in Accounts Receivable	-0.05	-0	-0.08	-0.04	-	Upgrade
Change in Accounts Payable	1.72	1.17	0	0.08	0.1	Upgrade
Change in Other Net Operating Assets	-0.51	-0.53	-0.02	0.01	-0.03	Upgrade
Operating Cash Flow	-11.43	-10.54	-2.45	-0.62	-0.24	Upgrade
Capital Expenditures	-0.19	-0.21	-0.07	-	-0	Upgrade
Sale of Property, Plant & Equipment	0.11	0.14	0.01	-	-	Upgrade
Cash Acquisitions	-1.36	-1.7	-7.05	-	-	Upgrade
Other Investing Activities	0.95	0.46	0.01	-1.29	-1.04	Upgrade
Investing Cash Flow	-0.49	-1.31	-7.1	-1.29	-1.04	Upgrade
Total Debt Repaid	-0	-	-	-	-	Upgrade
Net Debt Issued (Repaid)	-0	-	-	-	-	Upgrade
Issuance of Common Stock	96.64	112.05	12.19	-	0.01	Upgrade
Other Financing Activities	-0.17	-0.21	-	-	-	Upgrade
Financing Cash Flow	96.47	111.84	12.19	-	0.01	Upgrade
Foreign Exchange Rate Adjustments	0	-0.06	-0.37	0.16	-0.26	Upgrade
Net Cash Flow	84.56	99.92	2.27	-1.74	-1.53	Upgrade
Free Cash Flow	-11.62	-10.75	-2.52	-0.62	-0.25	Upgrade
Free Cash Flow Per Share	-0.11	-0.11	-0.04	-0.02	-0.01	Upgrade
Cash Interest Paid	0.17	-	-	-	-	Upgrade
Levered Free Cash Flow	-	-5.16	0.45	1.39	-0	Upgrade
Unlevered Free Cash Flow	-	-5.01	0.45	1.39	-0	Upgrade
Change in Working Capital	1.16	0.64	-0.1	0.04	0.07	Upgrade

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