Keyera 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	432.34	486.63	424.03	328.29	324.21
Depreciation & Amortization	387.82	365.48	334.2	269.6	269.9
Other Amortization	2.86	2.29	2.19	2.17	1.93
Loss (Gain) From Sale of Assets	-	-11.68	-	0.48	-20.8
Asset Writedown & Restructuring Costs	-	3.4	213.51	180.28	115.77
Other Operating Activities	30.6	116.32	53.56	38.03	74.87
Change in Accounts Receivable	34.33	106.86	12.7	48.09	-302.67
Change in Inventory	51.09	-33.6	67.65	-21.43	-117.43
Change in Accounts Payable	-170.22	229.86	-138.97	76.06	248.59
Change in Other Net Operating Assets	5.73	0.23	6.61	3.76	-10.53
Operating Cash Flow	774.54	1,266	975.49	925.33	583.84
Operating Cash Flow Growth	-38.81%	29.76%	5.42%	58.49%	-15.16%
Capital Expenditures	-495.09	-252.33	-702.69	-895.93	-516.63
Sale of Property, Plant & Equipment	-	5.71	-	39.82	18.19
Other Investing Activities	29.66	11.31	-117.03	12.19	101.32
Investing Cash Flow	-465.43	-235.31	-819.71	-843.92	-397.12
Long-Term Debt Issued	2,900	600	1,330	1,100	970
Long-Term Debt Repaid	-472.7	-1,065	-977.26	-993.57	-714.65
Net Debt Issued (Repaid)	2,427	-465.45	352.74	106.43	255.36
Issuance of Common Stock	-	-	-	230.09	-
Common Dividends Paid	-485.95	-467.47	-485.81	-424.36	-424.36
Other Financing Activities	-30.25	-2.73	-1.2	-12.81	-4.85
Financing Cash Flow	1,911	-935.65	-134.26	-100.65	-173.85
Foreign Exchange Rate Adjustments	-7.14	3.53	0.38	1.5	0.18
Net Cash Flow	2,213	98.35	21.89	-17.74	13.04
Free Cash Flow	279.45	1,013	272.8	29.4	67.21
Free Cash Flow Growth	-72.43%	271.50%	827.95%	-56.26%	-28.51%
Free Cash Flow Margin	4.08%	14.20%	3.87%	0.42%	1.35%
Free Cash Flow Per Share	1.22	4.42	1.19	0.13	0.30
Cash Interest Paid	178.99	195.61	215.42	186.65	165.13
Cash Income Tax Paid	216.34	-0.44	27.52	62.61	-42.34
Levered Free Cash Flow	276.92	868.61	-156.37	-98.26	23.06
Unlevered Free Cash Flow	417.19	995.92	-37.54	-3.51	119.03
Change in Working Capital	-79.08	303.35	-52.01	106.48	-182.03

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