Tamarack Valley 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	-91.89	162.22	94.2	345.2	390.51	-311.38
Depreciation & Amortization	565.73	593.8	639.14	385.36	-172.77	522.23
Loss (Gain) From Sale of Assets	436.59	84.08	125.95	-19.25	-8.74	-10.67
Stock-Based Compensation	11.63	11.24	5.46	3.88	5.97	5.5
Other Operating Activities	-89.3	-13.53	-113.16	-5.57	112.71	-86.76
Change in Other Net Operating Assets	-27.64	-4.59	-119.96	95.76	-29.79	6.37
Operating Cash Flow	805.12	833.21	631.63	805.38	297.89	125.29
Operating Cash Flow Growth	-4.99%	31.91%	-21.57%	170.36%	137.76%	-38.95%
Capital Expenditures	-482.86	-452.65	-533.96	-458.58	-261.24	-198.46
Sale of Property, Plant & Equipment	23.37	-	141.48	76.85	46.22	15.53
Cash Acquisitions	-	-	-	-948.88	-386.17	-3.9
Other Investing Activities	-8.69	-0.73	14.46	60.05	20.14	5.27
Investing Cash Flow	-468.17	-453.38	-378.02	-1,271	-581.06	-181.56
Long-Term Debt Issued	-	-	66.6	546.65	265.31	16.7
Long-Term Debt Repaid	-	-190.41	-351.6	-132.08	-40.89	-2.35
Net Debt Issued (Repaid)	-48.89	-190.41	-285	414.57	224.42	14.35
Issuance of Common Stock	0.5	1.26	0.76	145.51	72.85	47.06
Repurchase of Common Stock	-199.94	-146.95	-9.58	-35.88	-12.98	-5.15
Common Dividends Paid	-77.84	-81.47	-83.52	-55.27	-	-
Other Financing Activities	-20.27	42.92	125.94	-3.75	-1.01	-
Financing Cash Flow	-346.45	-374.66	-251.39	465.18	283.17	56.27
Net Cash Flow	-9.49	5.17	2.22	-	-	-
Free Cash Flow	322.27	380.56	97.67	346.8	36.65	-73.17
Free Cash Flow Growth	-18.17%	289.63%	-71.84%	846.25%	-	-
Free Cash Flow Margin	23.16%	27.10%	6.94%	29.39%	6.12%	-37.04%
Free Cash Flow Per Share	0.63	0.70	0.17	0.75	0.10	-0.33
Cash Interest Paid	87.15	87.15	246.91	41.87	21.48	9.45
Cash Income Tax Paid	81.14	81.14	93.9	-	-	-
Levered Free Cash Flow	192.99	368.53	126.36	397.39	-125.88	98.19
Unlevered Free Cash Flow	243.99	425.05	191.19	427.76	-112.45	104.1
Change in Working Capital	-27.64	-4.59	-119.96	95.76	-29.79	6.37

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