Sherritt International Cash Flow Statement

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

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-65.7	-72.8	-64.6	63.5	-18.4
Depreciation & Amortization	14.4	22.6	14.6	27.6	35.3
Loss (Gain) on Equity Investments	49.3	30.6	10.1	-40.2	-50.6
Stock-Based Compensation	3.3	-2.7	-26.4	11.7	12.2
Provision & Write-off of Bad Debts	-	-	-	49.4	0.8
Other Operating Activities	-25	-5	188.1	-11.1	-5.4
Change in Accounts Receivable	44.9	9.7	-45.2	-11	-
Change in Inventory	-0.8	1.2	-10.5	-7.2	-
Change in Accounts Payable	7.6	-4.9	-37	7.4	-
Change in Unearned Revenue	-4.9	-3.3	1.9	1.1	-
Change in Other Net Operating Assets	-1.9	-1.3	-2.8	-0.9	24.7
Operating Cash Flow	21	-26.1	27.3	88.7	-4.4
Operating Cash Flow Growth	-	-	-69.22%	-	-
Capital Expenditures	-16	-6.6	-20.1	-27.7	-9.9
Sale of Property, Plant & Equipment	-	-	-	1.3	-
Sale (Purchase) of Intangibles	-	-0.2	-1.2	-0.8	-0.8
Other Investing Activities	2.5	42.9	2.9	3.8	0.8
Investing Cash Flow	-13.5	36.1	-18.4	-23.4	-9.9
Long-Term Debt Issued	-	11	13	37	-
Long-Term Debt Repaid	-7	-3.9	-24.6	-128.1	-6.1
Net Debt Issued (Repaid)	-7	7.1	-11.6	-91.1	-6.1
Other Financing Activities	-15.9	-	-0.1	-2.2	-0.8
Financing Cash Flow	-22.9	7.1	-11.7	-93.3	-6.9
Foreign Exchange Rate Adjustments	-5.4	9.5	-2	6.3	-0.6
Net Cash Flow	-20.8	26.6	-4.8	-21.7	-21.8
Free Cash Flow	5	-32.7	7.2	61	-14.3
Free Cash Flow Growth	-	-	-88.20%	-	-
Free Cash Flow Margin	2.82%	-20.59%	3.22%	34.12%	-12.98%
Free Cash Flow Per Share	0.01	-0.08	0.02	0.15	-0.04
Cash Interest Paid	27.1	25.9	28.3	32	32.7
Cash Income Tax Paid	3.1	3.8	1.1	0.6	2.1
Levered Free Cash Flow	36.13	14.26	-136.49	-17.26	-5.48
Unlevered Free Cash Flow	56.56	37.95	-114.3	9.93	22.28
Change in Working Capital	44.9	1.4	-93.6	-10.6	24.7

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