Tenaz Energy 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	202.02	-7.71	26.55	5.24	8.34	-18.99
Depreciation & Amortization	86.84	26.23	25.47	6.67	5.2	8.63
Loss (Gain) From Sale of Assets	-	-	-	-	-0.8	-1.12
Asset Writedown & Restructuring Costs	-	-	-	-4.24	-10.02	15.52
Loss (Gain) on Equity Investments	-4.77	-4.38	-3.51	-	-	-
Stock-Based Compensation	6.53	3.03	1.86	1.27	0.56	0.29
Other Operating Activities	-232.09	-3.28	-34.92	-0.58	0.23	-1.81
Change in Other Net Operating Assets	21.87	-7.64	-0.27	0.99	0.45	-0.1
Operating Cash Flow	80.64	6.24	15.18	9.35	3.95	2.41
Operating Cash Flow Growth	432.32%	-58.86%	62.36%	136.93%	63.97%	-81.48%
Capital Expenditures	-37.97	-20.76	-24.86	-17.1	-10.39	-7.87
Sale of Property, Plant & Equipment	-	-	-	-	1.75	1.75
Cash Acquisitions	24.79	-34.3	36.81	1.81	-	-
Other Investing Activities	5.35	0.94	46.24	-38.6	4.4	-0.37
Investing Cash Flow	-7.83	-54.12	58.2	-53.89	-4.24	-6.5
Short-Term Debt Issued	-	-	-	21.48	-	-
Long-Term Debt Issued	-	138.3	-	-	-	3.99
Total Debt Issued	128.28	138.3	-	21.48	-	3.99
Short-Term Debt Repaid	-	-	-	-	-3.99	-
Long-Term Debt Repaid	-	-0.15	-21.49	-0.05	-0.04	-0.04
Total Debt Repaid	-3.13	-0.15	-21.49	-0.05	-4.02	-0.04
Net Debt Issued (Repaid)	125.16	138.15	-21.49	21.43	-4.02	3.95
Issuance of Common Stock	0.56	0.93	-	0.23	29.82	-
Repurchase of Common Stock	-3.82	-1.23	-3.87	-0.75	-	-
Other Financing Activities	-	-	-	-	-0.03	-
Financing Cash Flow	121.9	137.85	-25.36	20.91	25.76	3.95
Foreign Exchange Rate Adjustments	4.29	-0.37	0.45	-	-	-
Net Cash Flow	199	89.61	48.47	-23.64	25.47	-0.14
Free Cash Flow	42.67	-14.51	-9.68	-7.75	-6.45	-5.47
Free Cash Flow Margin	23.26%	-25.14%	-16.13%	-27.56%	-40.92%	-68.69%
Free Cash Flow Per Share	1.36	-0.54	-0.33	-0.27	-0.43	-0.50
Cash Interest Paid	9.84	0.76	0.69	0.36	0.29	0.3
Cash Income Tax Paid	34.33	1.43	7.44	-	-	-
Levered Free Cash Flow	144.57	-11.45	37.6	-45.36	-0.36	-3.69
Unlevered Free Cash Flow	151.84	-11.17	37.6	-45.3	-0.18	-3.51
Change in Working Capital	21.87	-7.64	-0.27	0.99	0.45	-0.1

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