Aspen Group Cash Flow Statement

Financials in millions AUD. Fiscal year is July - June.

Millions AUD. Fiscal year is Jul - Jun.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Jun '25 Jun 30, 2025	Jun '24 Jun 30, 2024	Jun '23 Jun 30, 2023	Jun '22 Jun 30, 2022	Jun '21 Jun 30, 2021
Net Income	61.82	57.05	48.44	54.4	75.38	25.39
Depreciation & Amortization	1.63	1.55	1.49	1.2	0.99	0.73
Gain (Loss) on Sale of Assets	-1.15	-1.15	-0.66	-0.34	-0.26	-0.19
Gain (Loss) on Sale of Investments	-1.91	-1.91	-6.38	-3.08	0.08	-0.19
Asset Writedown	-46.82	-46.82	-39.62	-37.75	-61.13	-17.79
Stock-Based Compensation	2.29	2.29	1.73	1.24	0.86	0.42
Change in Accounts Receivable	-1.77	-1.77	-0.3	-0.87	-0.58	0.98
Change in Accounts Payable	-0.61	-0.61	3.19	-1.96	4.01	-0.11
Change in Other Net Operating Assets	-13.12	-13.12	-2.83	-2.09	0.5	0.88
Other Operating Activities	40.29	27.38	25.88	8.08	-2.6	2.63
Operating Cash Flow	40.65	22.9	30.95	18.81	17.25	12.74
Operating Cash Flow Growth	47.54%	-26.01%	64.53%	9.06%	35.34%	13.32%
Acquisition of Real Estate Assets	-120.58	-75.19	-54.11	-38.32	-91.92	-36.43
Sale of Real Estate Assets	6.32	21.56	14.82	4.03	6.52	0.83
Net Sale / Acq. of Real Estate Assets	-114.25	-53.63	-39.29	-34.3	-85.4	-35.6
Investment in Marketable & Equity Securities	27.49	60.94	-	-16.11	-	-
Other Investing Activities	0.76	0.78	0.87	0.46	0.11	0.16
Investing Cash Flow	-86.01	8.09	-38.43	-49.94	-85.29	-35.44
Long-Term Debt Issued	-	72.7	38	37	53.59	32.15
Long-Term Debt Repaid	-	-141.88	-10.22	-26.7	-1.63	-1.31
Net Debt Issued (Repaid)	2.76	-69.18	27.78	10.3	51.96	30.85
Issuance of Common Stock	71.63	71.63	-	35.78	28.92	-
Common Dividends Paid	-21.28	-18.43	-15.29	-11.71	-8.4	-7.38
Other Financing Activities	-9.03	-9.54	-9.42	-5.05	-1.98	-0.56
Miscellaneous Cash Flow Adjustments	-	-	-	-	-	-0.09
Net Cash Flow	-1.28	5.47	-4.4	-1.81	2.45	0.12
Levered Free Cash Flow	30.46	22.47	3.65	-3.35	17.67	9.12
Unlevered Free Cash Flow	34.34	28.85	9.18	-0.68	16.57	9.94
Change in Working Capital	-15.49	-15.49	0.06	-4.92	3.93	1.74

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