Reef Casino Trust 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	5.41	5.08	5.37	8.99	7.36
Depreciation & Amortization	5.41	5.04	4.87	4.53	4.75
Other Amortization	0.02	0.03	0.03	0.04	0.05
Loss (Gain) From Sale of Assets	0.01	0	0.02	0	0.01
Other Operating Activities	5.41	5.08	5.37	8.99	7.36
Change in Accounts Receivable	-0.13	0.02	0.24	-0.41	0.27
Change in Accounts Payable	-0.17	-0.69	0.86	0.22	-0.02
Operating Cash Flow	15.96	14.57	16.75	22.37	19.78
Operating Cash Flow Growth	9.58%	-13.04%	-25.10%	13.08%	135.34%
Capital Expenditures	-7.24	-8.18	-6.72	-2.97	-3.17
Sale of Property, Plant & Equipment	0.04	-	0.01	-	-
Investing Cash Flow	-7.2	-8.18	-6.71	-2.97	-3.17
Long-Term Debt Issued	5	3.7	-	-	2.5
Long-Term Debt Repaid	-4	-3.8	-0.3	-0.09	-2.59
Net Debt Issued (Repaid)	1	-0.1	-0.3	-0.09	-0.09
Common Dividends Paid	-9.13	-10.44	-16.15	-15.17	-10.98
Financing Cash Flow	-8.13	-10.54	-16.45	-15.27	-11.07
Net Cash Flow	0.63	-4.16	-6.4	4.13	5.54
Free Cash Flow	8.72	6.38	10.04	19.4	16.61
Free Cash Flow Growth	36.66%	-36.40%	-48.26%	16.81%	145.17%
Free Cash Flow Margin	32.62%	25.01%	38.17%	63.56%	61.79%
Free Cash Flow Per Share	0.35	0.26	0.40	0.78	0.67
Cash Interest Paid	0.19	0.1	0.09	0.09	0.1
Levered Free Cash Flow	2.09	-1.1	0.31	8.41	6.35
Unlevered Free Cash Flow	5.59	2.15	3.73	14.09	11.01
Change in Working Capital	-0.29	-0.67	1.1	-0.19	0.25

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