29Metals Cash Flow Statement

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

Millions AUD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
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
Net Income	24.17	-177.61	-440.46	-47.22	121.01
Depreciation & Amortization	122.81	132.86	124.76	189.4	100.12
Other Amortization	1.39	0.84	0.5	0.48	1.63
Loss (Gain) From Sale of Assets	-	-	-	-	-0.07
Asset Writedown & Restructuring Costs	-	30	189.56	-	-
Stock-Based Compensation	1.81	1.92	1.94	3.2	2.65
Provision & Write-off of Bad Debts	-	-	-	-	0.95
Other Operating Activities	-24.2	55.36	29.87	3.16	20.56
Change in Accounts Receivable	-22.81	13.57	23.55	-11.44	-10.77
Change in Inventory	-29.43	26.82	1.88	-23.36	-25.86
Change in Accounts Payable	-28.65	-23.57	-34.96	38.42	-3.35
Change in Income Taxes	-	-	-	15.04	-18.66
Change in Other Net Operating Assets	10.37	-0.95	8.78	6.62	-4.09
Operating Cash Flow	55.45	59.24	-36.52	155.69	75.1
Operating Cash Flow Growth	-6.39%	-	-	107.32%	-42.50%
Capital Expenditures	-90.11	-73.85	-48.94	-67.39	-47.08
Sale of Property, Plant & Equipment	0.03	-	-	-	0.07
Cash Acquisitions	-	-	-	-	5
Sale (Purchase) of Intangibles	-33.57	-42.44	-36	-46.22	-50.53
Other Investing Activities	37.5	-	-	-	-
Investing Cash Flow	-86.15	-116.3	-84.94	-113.61	-92.55
Long-Term Debt Issued	-	127.93	60.62	-	-
Long-Term Debt Repaid	-101.68	-132.56	-73.01	-50.93	-108.26
Net Debt Issued (Repaid)	-101.68	-4.64	-12.39	-50.93	-108.26
Issuance of Common Stock	-	180	151.2	-	245
Common Dividends Paid	-	-	-	-9.63	-
Other Financing Activities	-14.65	-29.77	-26.07	-11.85	-34.86
Financing Cash Flow	-116.33	145.59	112.74	-72.4	101.88
Foreign Exchange Rate Adjustments	-2.68	1.96	-1.38	4.81	5.83
Net Cash Flow	-149.7	90.49	-10.1	-25.51	90.26
Free Cash Flow	-34.66	-14.62	-85.47	88.3	28.02
Free Cash Flow Growth	-	-	-	215.17%	-68.72%
Free Cash Flow Margin	-6.12%	-2.65%	-19.00%	12.25%	4.66%
Free Cash Flow Per Share	-0.03	-0.02	-0.15	0.18	0.11
Cash Interest Paid	14.65	21.83	20.92	13.66	17.52
Cash Income Tax Paid	-	-	-	-15.04	22.57
Levered Free Cash Flow	-63.38	2.18	-127.35	40.49	80.45
Unlevered Free Cash Flow	-51	18.51	-111.81	48.86	86.18
Change in Working Capital	-70.52	15.87	57.32	6.68	-171.77

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.