DFM:NGI Cash Flow Statement

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

Millions AED. 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	119.19	127.5	74.88	60.54	70.79
Depreciation & Amortization	2.12	1.78	1.78	1.65	1.48
Other Amortization	1.17	1.22	1.23	0.78	1.06
Gain (Loss) on Sale of Assets	-0.18	-40.96	-	-	-
Gain (Loss) on Sale of Investments	-36.33	-24	-12.99	-2.73	-27.75
Change in Accounts Receivable	171.18	-219.77	-16.83	-3.21	-2.07
Change in Unearned Revenue	-	-	-	-	18.71
Change in Insurance Reserves / Liabilities	-42.9	178.83	127.77	11.99	45.47
Change in Other Net Operating Assets	3.33	25.68	7.16	-14.15	-
Other Operating Activities	-55.33	-24.89	-22.19	-14.16	-15.32
Operating Cash Flow	162.08	21.26	159.95	40.26	86.54
Operating Cash Flow Growth	662.49%	-86.71%	297.32%	-53.48%	48.46%
Capital Expenditures	-0.99	-1.32	-3.11	-3.77	-4.98
Sale of Property, Plant & Equipment	0.18	0.24	3.67	-	-
Investment in Securities	-153.57	-190.3	-183.23	66.59	-231.87
Other Investing Activities	48.13	29.51	23.6	9	14.54
Investing Cash Flow	-106.25	-6.22	-159.07	71.82	-222.31
Common Dividends Paid	-74.23	-37.49	-37.49	-44.99	-22.49
Other Financing Activities	-	-	-4.88	-5.13	-3.4
Financing Cash Flow	-74.23	-37.49	-42.36	-50.11	-25.89
Net Cash Flow	-18.4	-22.46	-41.49	61.96	-161.66
Free Cash Flow	161.09	19.94	156.84	36.48	81.56
Free Cash Flow Growth	708.00%	-87.29%	329.89%	-55.27%	40.86%
Free Cash Flow Margin	24.20%	3.27%	35.95%	10.58%	21.12%
Free Cash Flow Per Share	0.98	0.12	0.95	0.22	0.49
Cash Income Tax Paid	8.9	-	-	-	-
Levered Free Cash Flow	235.98	-78.12	37.74	-402.02	83
Unlevered Free Cash Flow	235.98	-78.12	37.74	-402.02	83
Change in Working Capital	131.61	-15.26	118.1	-5.37	62.12

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