DFM:AMAN Cash Flow Statement

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

Millions AED. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	-29.54	-28.41	31.96	-10.16	12.29	19.12
Depreciation & Amortization	0.05	0.04	0.08	0.12	0.14	0.17
Gain (Loss) on Sale of Investments	-0.2	7.18	11	-4.9	6.6	-7.48
Change in Accounts Receivable	-0.82	3.31	9.3	-	8.97	-4.75
Reinsurance Recoverable	31.21	27.33	28.9	-	2.87	14.9
Change in Accounts Payable	68.7	34.82	3.57	24.57	-12.08	1.81
Change in Unearned Revenue	-0.32	-1.44	-22.2	-	-	-
Change in Insurance Reserves / Liabilities	-217.5	-203.4	-231	-	36.94	59.12
Change in Other Net Operating Assets	-9.75	20.01	68.83	-19.92	0.19	3.15
Other Operating Activities	-2.47	-2.03	-4.05	-2.95	-11.14	-3.77
Operating Cash Flow	-160.84	-141.11	-119.59	-8.33	38.2	87.45
Operating Cash Flow Growth	-	-	-	-	-56.32%	-28.46%
Capital Expenditures	-0.04	-0.03	-	-0.03	-0.09	-0.15
Investment in Securities	210.99	216.13	43.52	92.84	4.28	-115.95
Other Investing Activities	1.69	1.75	0.44	-24.17	11.43	2.85
Investing Cash Flow	212.64	217.84	43.96	68.64	15.62	-113.26
Short-Term Debt Issued	-	-	-	-	-	0.01
Total Debt Issued	-	-	-	-	-	0.01
Total Debt Repaid	-	-	-	-15.23	-19.99	-0.11
Net Debt Issued (Repaid)	-	-	-	-15.23	-19.99	-0.1
Other Financing Activities	-0.44	-0.44	-0.45	-0.3	-0.33	-0.91
Financing Cash Flow	-0.44	-0.44	-0.45	-15.52	-20.33	-1.01
Net Cash Flow	51.35	76.29	-76.07	44.79	33.5	-26.82
Free Cash Flow	-160.88	-141.14	-119.59	-8.36	38.11	87.3
Free Cash Flow Growth	-	-	-	-	-56.34%	-28.58%
Free Cash Flow Margin	-418.46%	-206.61%	-181.12%	-127.13%	28.28%	62.51%
Free Cash Flow Per Share	-0.71	-0.63	-0.53	-0.04	0.17	0.39
Levered Free Cash Flow	23.18	76.01	42.33	733.69	-26.66	-122.57
Unlevered Free Cash Flow	23.18	76.01	42.33	733.69	-26.66	-122.57
Change in Working Capital	-132.37	-121.57	-150.68	3.96	34.37	75.97

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.