Challenger Cash Flow Statement

Financials in millions AUD. Fiscal year is July - June.

Millions AUD. Fiscal year is Jul - Jun.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '25 Jun 30, 2025	Jun '24 Jun 30, 2024	Jun '23 Jun 30, 2023	Jun '22 Jun 30, 2022	Jun '21 Jun 30, 2021
Net Income	192.3	129.9	171.4	253.7	592.3
Depreciation & Amortization	16.6	13.1	11.8	11.3	10.8
Other Amortization	0.9	0.7	2.7	2.7	4.5
Gain (Loss) on Sale of Investments	-666.9	-415.9	-343.1	1,544	-570
Stock-Based Compensation	21.2	19.6	16.8	13	11.5
Change in Accounts Receivable	-9.2	-14.8	62.3	12.9	72.1
Change in Income Taxes	66.5	22.1	98.3	-170.1	147.9
Change in Insurance Reserves / Liabilities	1,052	986.2	334.7	-74.5	1,015
Change in Other Net Operating Assets	-277.9	98.6	912.5	889.2	1,220
Other Operating Activities	-	4.4	8	-	73.7
Operating Cash Flow	399.6	1,051	1,291	2,487	2,577
Operating Cash Flow Growth	-61.99%	-18.55%	-48.09%	-3.48%	431.37%
Capital Expenditures	-0.2	-1.9	-7.9	-2.9	-12.9
Cash Acquisitions	-	-	-	-28.9	-2.5
Investment in Securities	-1,238	-2,131	-1,493	-2,260	-920.9
Investing Cash Flow	-1,177	-1,944	-1,338	-2,123	-831
Long-Term Debt Issued	1,112	1,254	565.9	-	385
Total Debt Repaid	-9.9	-9.8	-467.8	-484.3	-1,768
Net Debt Issued (Repaid)	1,102	1,244	98.1	-484.3	-1,383
Issuance of Common Stock	-	-	15	-	35.7
Repurchases of Common Stock	-56.1	-14.6	-19	-1.7	-
Common Dividends Paid	-191.3	-149.4	-122.5	-133.7	-64
Other Financing Activities	-	-	-6.6	-0.1	-6.9
Financing Cash Flow	854.7	1,080	-35	-619.8	-1,418
Miscellaneous Cash Flow Adjustments	-	-265.8	-58.1	-	-
Net Cash Flow	77	-78.3	-139.7	-256.3	327.5
Free Cash Flow	399.4	1,050	1,283	2,484	2,564
Free Cash Flow Growth	-61.94%	-18.20%	-48.35%	-3.11%	439.05%
Free Cash Flow Margin	13.80%	36.97%	49.82%	-	77.08%
Free Cash Flow Per Share	0.57	1.50	1.84	2.85	2.79
Cash Interest Paid	345.3	295.7	180.1	53.8	56.1
Cash Income Tax Paid	10.2	21.6	122.6	264.9	90.9
Levered Free Cash Flow	-2,107	-11,205	-1,397	-1,834	-1,679
Unlevered Free Cash Flow	-1,461	-10,600	-965.61	-1,808	-1,476
Change in Working Capital	831	1,092	1,408	657.5	2,455

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