Topaz Energy 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 - 2017
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 - 2017
Net Income	128.74	105.66	47.64	99.36	27.56	Upgrade
Depreciation & Amortization	135.33	124.72	217.39	209.46	155.42	Upgrade
Other Amortization	0.57	0.45	0.71	0.58	0.37	Upgrade
Stock-Based Compensation	7.34	5.36	3.2	1.48	1.98	Upgrade
Other Operating Activities	40.79	43.13	17.36	22.89	5.61	Upgrade
Change in Other Net Operating Assets	-4	-3.05	14.27	-15.89	-25.92	Upgrade
Operating Cash Flow	308.76	276.27	300.58	317.88	165.02	Upgrade
Operating Cash Flow Growth	11.76%	-8.09%	-5.44%	92.63%	97.29%	Upgrade
Capital Expenditures	-130.7	-437.9	-54.54	-354.69	-922.1	Upgrade
Other Investing Activities	-1.49	-2.09	2.58	0.59	0.69	Upgrade
Investing Cash Flow	-132.19	-439.99	-51.96	-354.1	-921.4	Upgrade
Long-Term Debt Issued	31.5	148.32	-	188	278.33	Upgrade
Long-Term Debt Repaid	-	-	-73.66	-	-	Upgrade
Net Debt Issued (Repaid)	31.5	148.32	-73.66	188	278.33	Upgrade
Issuance of Common Stock	1.95	212.03	4.82	6.58	384.93	Upgrade
Common Dividends Paid	-207.69	-191.17	-176.32	-157.29	-108.74	Upgrade
Other Financing Activities	-1.9	-8.77	-	-1.07	-18.33	Upgrade
Financing Cash Flow	-176.14	160.41	-245.16	36.22	536.2	Upgrade
Net Cash Flow	0.43	-3.31	3.46	-	-220.19	Upgrade
Free Cash Flow	178.06	-161.63	246.04	-36.81	-757.08	Upgrade
Free Cash Flow Margin	52.91%	-51.74%	76.55%	-9.96%	-357.89%	Upgrade
Free Cash Flow Per Share	1.15	-1.10	1.69	-0.26	-6.09	Upgrade
Levered Free Cash Flow	115.63	-221.32	224.96	-84.49	-769.21	Upgrade
Unlevered Free Cash Flow	131.81	-204.32	242.88	-76.21	-767.47	Upgrade
Change in Working Capital	-4	-3.05	14.27	-15.89	-25.92	Upgrade

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