Source Rock 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 - 2019
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 - 2019
Net Income	1.32	1.5	1.57	2.56	0.18	Upgrade
Depreciation & Amortization	2.96	3.94	3.18	2.18	3.62	Upgrade
Stock-Based Compensation	0.65	0.84	0.78	0.4	0.31	Upgrade
Provision & Write-off of Bad Debts	-	-	-	-	-0.01	Upgrade
Other Operating Activities	-0.09	-0.28	0.13	-0.01	-0.39	Upgrade
Change in Accounts Receivable	0.08	0.22	-0.18	-0.27	-0.45	Upgrade
Change in Accounts Payable	0.01	-0.07	0.09	-0.1	0.05	Upgrade
Change in Income Taxes	-0.35	0.51	-0.66	0.6	0.08	Upgrade
Change in Other Net Operating Assets	0.02	-0.01	0.01	-0.04	0.02	Upgrade
Operating Cash Flow	4.62	6.65	4.91	5.32	3.41	Upgrade
Operating Cash Flow Growth	-30.57%	35.33%	-7.58%	56.09%	197.30%	Upgrade
Capital Expenditures	-0.83	-0.03	-13.28	-3.62	-1.19	Upgrade
Investing Cash Flow	-0.83	-0.03	-13.28	-3.62	-1.19	Upgrade
Issuance of Common Stock	-	0	0.13	13.49	-	Upgrade
Repurchase of Common Stock	-0.26	-	-	-0.44	-	Upgrade
Common Dividends Paid	-3.56	-3.45	-3.37	-2.02	-1.47	Upgrade
Other Financing Activities	-0.46	-	-0.09	-1.07	-0.16	Upgrade
Financing Cash Flow	-4.27	-3.45	-3.33	9.96	-1.63	Upgrade
Net Cash Flow	-0.49	3.17	-11.69	11.66	0.58	Upgrade
Free Cash Flow	3.79	6.62	-8.36	1.7	2.21	Upgrade
Free Cash Flow Growth	-42.84%	-	-	-23.18%	211.27%	Upgrade
Free Cash Flow Margin	62.76%	86.11%	-125.85%	26.18%	51.90%	Upgrade
Free Cash Flow Per Share	0.08	0.14	-0.18	0.04	0.07	Upgrade
Levered Free Cash Flow	3.58	6.7	-9.32	1.52	2.53	Upgrade
Unlevered Free Cash Flow	3.58	6.7	-9.32	1.52	2.53	Upgrade
Change in Working Capital	-0.23	0.65	-0.74	0.19	-0.3	Upgrade

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