DFM:NGI 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	2015 - 2019
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	2015 - 2019
Net Income	124.38	127.5	74.88	60.54	70.79	46.11	Upgrade
Depreciation & Amortization	1.99	1.78	1.78	1.65	1.48	1.51	Upgrade
Other Amortization	1.22	1.22	1.23	0.78	1.06	0.85	Upgrade
Gain (Loss) on Sale of Assets	-	-40.96	-	-	-	-	Upgrade
Gain (Loss) on Sale of Investments	-39.84	-24	-12.99	-2.73	-27.75	-5.42	Upgrade
Change in Accounts Receivable	160.74	-219.77	-16.83	-3.21	-2.07	-55.71	Upgrade
Change in Unearned Revenue	-	-	-	-	18.71	-2.38	Upgrade
Change in Insurance Reserves / Liabilities	-74.31	178.83	127.77	11.99	45.47	76.68	Upgrade
Change in Other Net Operating Assets	99.63	25.69	7.16	-14.15	-	-	Upgrade
Other Operating Activities	-42.14	-18.08	-22.19	-14.16	-15.32	-15.84	Upgrade
Operating Cash Flow	227.54	28.08	159.95	40.26	86.54	58.29	Upgrade
Operating Cash Flow Growth	-	-82.44%	297.32%	-53.48%	48.46%	130.25%	Upgrade
Capital Expenditures	-1.05	-1.32	-3.11	-3.77	-4.98	-0.39	Upgrade
Sale of Property, Plant & Equipment	-	0.24	3.67	-	-	-	Upgrade
Investment in Securities	-179.3	-190.3	-183.23	66.59	-231.87	56.4	Upgrade
Other Investing Activities	44.46	29.51	23.6	9	14.54	23.83	Upgrade
Investing Cash Flow	-135.88	-6.22	-159.07	71.82	-222.31	79.84	Upgrade
Common Dividends Paid	-74.23	-37.49	-37.49	-44.99	-22.49	-15	Upgrade
Other Financing Activities	-	-6.83	-4.88	-5.13	-3.4	-1.75	Upgrade
Financing Cash Flow	-74.23	-44.31	-42.36	-50.11	-25.89	-16.74	Upgrade
Net Cash Flow	17.43	-22.46	-41.49	61.96	-161.66	121.39	Upgrade
Free Cash Flow	226.49	26.76	156.84	36.48	81.56	57.9	Upgrade
Free Cash Flow Growth	-	-82.94%	329.89%	-55.27%	40.86%	156.79%	Upgrade
Free Cash Flow Margin	35.74%	4.39%	35.95%	10.58%	21.12%	17.16%	Upgrade
Free Cash Flow Per Share	1.37	0.16	0.95	0.22	0.49	0.35	Upgrade
Levered Free Cash Flow	372.23	-78.12	37.74	-402.02	83	30.3	Upgrade
Unlevered Free Cash Flow	372.23	-78.12	37.74	-402.02	83	30.3	Upgrade
Change in Working Capital	186.05	-15.25	118.1	-5.37	62.12	18.59	Upgrade

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