Delta Property Fund Cash Flow Statement

Financials in millions ZAR. Fiscal year is March - February.

Millions ZAR. Fiscal year is Mar - Feb.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2016 - 2020
Period Ending	Aug '25 Aug 31, 2025	Feb '25 Feb 28, 2025	Feb '24 Feb 29, 2024	Feb '23 Feb 28, 2023	Feb '22 Feb 28, 2022	Feb '21 Feb 28, 2021	2016 - 2020
Net Income	-83.08	-104.21	-66.48	-728.27	-144.97	-454.46	Upgrade
Depreciation & Amortization	2.1	2.7	3.6	3.26	-0.44	3.79	Upgrade
Other Amortization	12.36	12.92	6.9	17.45	6.62	15.33	Upgrade
Gain (Loss) on Sale of Assets	246.65	246.65	86.7	369.84	-	-	Upgrade
Gain (Loss) on Sale of Investments	31.72	44.22	37.09	35.54	48.67	67.55	Upgrade
Asset Writedown	-72.49	-68.36	93.44	463.8	428.84	517.14	Upgrade
Income (Loss) on Equity Investments	-	-	-	-	-	-13.81	Upgrade
Change in Accounts Receivable	-42.22	-80.93	64.19	91.57	-3.96	-56.12	Upgrade
Change in Accounts Payable	-7.87	5.31	-33.21	-46.28	47.23	-33.61	Upgrade
Other Operating Activities	8.09	11.54	-85.01	-135.32	-133.51	187.72	Upgrade
Operating Cash Flow	135.49	95.36	109.78	149.11	254.74	235.69	Upgrade
Operating Cash Flow Growth	62.29%	-13.13%	-26.38%	-41.47%	8.08%	-42.35%	Upgrade
Acquisition of Real Estate Assets	-70.89	-44.83	-36.68	-79.47	-93.78	-38.05	Upgrade
Sale of Real Estate Assets	9.45	10.88	13.46	208.99	-	15.08	Upgrade
Net Sale / Acq. of Real Estate Assets	-61.44	-33.95	-23.21	129.52	-93.78	-22.97	Upgrade
Other Investing Activities	-0.06	-0.06	-	-	-	0.03	Upgrade
Investing Cash Flow	-61.5	-34.01	-23.21	129.52	-88.78	-22.94	Upgrade
Long-Term Debt Issued	-	35	13	11.28	81.06	5.75	Upgrade
Long-Term Debt Repaid	-	-96.83	-108.37	-360.21	-289.15	-195.58	Upgrade
Total Debt Repaid	-105.38	-96.83	-108.37	-360.21	-289.15	-195.58	Upgrade
Net Debt Issued (Repaid)	-60.38	-61.83	-95.37	-348.93	-208.09	-189.83	Upgrade
Miscellaneous Cash Flow Adjustments	-	-	-	-	-0	-	Upgrade
Net Cash Flow	13.61	-0.47	-8.81	-70.3	-42.13	22.92	Upgrade
Cash Interest Paid	416.87	446.44	474.81	457.88	400.45	462.4	Upgrade
Cash Income Tax Paid	36.23	26.2	84.8	99.27	119.48	42.68	Upgrade
Levered Free Cash Flow	-58.69	379.5	-413.93	151.16	-588.69	243.95	Upgrade
Unlevered Free Cash Flow	200.89	654.42	-126.01	410.5	-338.18	499.62	Upgrade
Change in Working Capital	-50.1	-75.63	30.99	45.29	43.27	-89.72	Upgrade

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