Boralex Balance Sheet

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
Cash & Equivalents	288	592	478	361	256	275
Accounts Receivable	188	264	236	234	148	157
Restricted Cash	65	19	22	13	3	2
Other Current Assets	41	48	35	30	53	38
Total Current Assets	683	923	771	638	460	472
Property, Plant & Equipment	4,693	4,446	3,725	3,675	3,634	3,428
Goodwill	247	237	234	233	218	222
Other Intangible Assets	961	963	986	1,059	1,147	1,027
Long-Term Investments	732	754	721	827	169	81
Other Long-Term Assets	325	281	137	107	123	84
Total Assets	7,641	7,604	6,574	6,539	5,751	5,314
Accounts Payable	270	7	22	57	45	151
Accrued Expenses	-	155	324	279	69	-
Short-Term Debt	1	5	6	12	-	-
Current Portion of Long-Term Debt	243	339	271	404	223	229
Current Portion of Leases	24	22	20	18	16	13
Other Current Liabilities	4	437	72	51	42	10
Total Current Liabilities	542	965	715	821	395	403
Long-Term Debt	4,058	3,638	3,004	2,873	3,414	3,369
Long-Term Leases	330	318	327	300	290	243
Long-Term Deferred Tax Liabilities	249	256	260	267	174	137
Other Long-Term Liabilities	505	402	244	252	267	171
Total Liabilities	5,684	5,579	4,550	4,513	4,540	4,323
Common Stock	1,323	1,323	1,323	1,323	1,320	1,320
Additional Paid-In Capital	13	12	11	10	9	9
Retained Earnings	93	151	183	174	-299	-249
Comprehensive Income & Other	98	115	112	174	-29	-91
Total Common Equity	1,527	1,601	1,629	1,681	1,001	989
Minority Interest	430	424	395	345	210	2
Shareholders' Equity	1,957	2,025	2,024	2,026	1,211	991
Total Liabilities & Equity	7,641	7,604	6,574	6,539	5,751	5,314
Total Debt	4,656	4,322	3,628	3,607	3,943	3,854
Net Cash (Debt)	-4,368	-3,730	-3,150	-3,246	-3,687	-3,579
Net Cash Per Share	-42.51	-36.28	-30.64	-31.58	-35.87	-36.27
Filing Date Shares Outstanding	102.76	102.77	102.77	102.76	102.62	102.62
Total Common Shares Outstanding	102.76	102.77	102.77	102.76	102.62	102.62
Working Capital	141	-42	56	-183	65	69
Book Value Per Share	14.86	15.58	15.85	16.36	9.75	9.64
Tangible Book Value	319	401	409	389	-364	-260
Tangible Book Value Per Share	3.10	3.90	3.98	3.79	-3.55	-2.53
Machinery	-	4,967	4,694	4,679	4,398	4,149
Construction In Progress	-	814	157	-	-	-

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