Vertex Resource Group Cash Flow Statement

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

Millions CAD. 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	-13.64	-6.13	2.46	2.04	1.66	-5.7
Depreciation & Amortization	22.24	22.96	23.42	20.22	19.46	17.94
Other Amortization	0.19	0.19	0.2	0.16	0.16	-
Loss (Gain) From Sale of Assets	0.48	0.14	0.17	-0.78	-0.98	-0.76
Asset Writedown & Restructuring Costs	8.71	6	-	-	-	3.67
Stock-Based Compensation	0.12	0.25	0.16	0.2	-	0.19
Other Operating Activities	8.07	12.56	11.67	9.45	4.9	6.38
Change in Other Net Operating Assets	5.02	8.38	6.87	-9.85	-12.25	5.19
Operating Cash Flow	31.19	44.34	44.95	21.44	12.96	26.9
Operating Cash Flow Growth	-13.26%	-1.35%	109.64%	65.46%	-51.83%	21.31%
Capital Expenditures	-9.19	-14.16	-14.36	-13.77	-9.05	-4.44
Sale of Property, Plant & Equipment	13.3	13.56	7.74	3.63	2.83	1.49
Cash Acquisitions	-	-	-	-0.27	-4.53	-
Sale (Purchase) of Intangibles	-	-	-0.27	-	-	-
Other Investing Activities	-0.67	-0.75	-2.28	-2.43	-0.78	-
Investing Cash Flow	3.44	-1.36	-9.17	-12.84	-11.54	-2.96
Short-Term Debt Issued	-	-	-	-	0.15	8.5
Long-Term Debt Issued	-	18.19	9.1	36.24	25.59	0.82
Total Debt Issued	5.56	18.19	9.1	36.24	25.74	9.33
Short-Term Debt Repaid	-	-	-	-0.4	-	-
Long-Term Debt Repaid	-	-44.89	-39.06	-32.35	-20.72	-26.71
Total Debt Repaid	-34.32	-44.89	-39.06	-32.75	-20.72	-26.71
Net Debt Issued (Repaid)	-28.76	-26.7	-29.96	3.49	5.02	-17.39
Repurchase of Common Stock	-	-0.98	-0.45	-	-	-
Other Financing Activities	-9.2	-11.09	-9.98	-9.52	-6.44	-6.97
Financing Cash Flow	-37.96	-38.76	-40.39	-6.03	-1.42	-24.36
Foreign Exchange Rate Adjustments	-0.45	-0.04	0	0.02	-0	-
Net Cash Flow	-3.78	4.18	-4.6	2.59	-	-0.41
Free Cash Flow	22	30.18	30.59	7.68	3.9	22.46
Free Cash Flow Growth	4.93%	-1.33%	298.57%	96.59%	-82.61%	54.55%
Free Cash Flow Margin	10.77%	13.13%	12.37%	3.52%	2.45%	16.50%
Free Cash Flow Per Share	0.20	0.27	0.27	0.07	0.04	0.25
Cash Interest Paid	6.81	8.71	8	6.56	4.64	5.08
Cash Income Tax Paid	0.06	0.06	0.03	0.03	0.05	0.1
Levered Free Cash Flow	15.01	16.79	15.95	6.21	-1.54	13.56
Unlevered Free Cash Flow	20.4	23.67	22.86	11.38	1.97	16.99
Change in Working Capital	5.02	8.38	6.87	-9.85	-12.25	5.19

Source: S&P Global Market Intelligence. Standard template. Financial Sources.