Discovery Cash Flow Statement

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

Millions ZAR. Fiscal year is Jul - Jun.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	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	10,817	9,552	7,539	6,565	5,478	3,220
Depreciation & Amortization	825	795	765	713	709	716
Other Amortization	1,450	1,450	1,411	1,319	1,252	1,200
Gain (Loss) on Sale of Assets	-1	-1	-1	8	-128	-3
Gain (Loss) on Sale of Investments	-23,048	-23,048	-14,131	-10,773	6,267	-8,525
Stock-Based Compensation	738	738	741	567	419	525
Change in Accounts Payable	-	-	-	-	4,979	2,132
Change in Unearned Revenue	2,668	2,668	-5,166	-2,400	-	-
Change in Other Net Operating Assets	9,788	6,499	5,747	7,797	-1,239	4,840
Other Operating Activities	4,393	10,558	6,488	349	-13,917	6,724
Operating Cash Flow	7,086	8,667	2,733	4,221	3,597	10,407
Operating Cash Flow Growth	9.01%	217.12%	-35.25%	17.35%	-65.44%	29.04%
Capital Expenditures	-319	-294	-414	-551	-275	-277
Sale of Property, Plant & Equipment	2	3	29	2	25	21
Purchase / Sale of Intangible Assets	-1,542	-1,682	-1,789	-1,760	-1,565	-1,587
Cash Acquisitions	-12	-316	-	-3	-	-25
Investment in Securities	-16	-24	-17	-182	-2,989	-4,981
Other Investing Activities	556	490	305	292	100	109
Investing Cash Flow	-1,331	-1,823	-1,886	-2,202	-4,704	-6,740
Long-Term Debt Issued	-	3,264	2,005	7,442	3,261	1,839
Total Debt Repaid	-5,893	-5,573	-1,385	-8,607	-2,687	-2,366
Net Debt Issued (Repaid)	-1,802	-2,309	620	-1,165	574	-527
Repurchases of Common Stock	-	-	-131	-	-	-
Common Dividends Paid	-1,951	-1,614	-1,178	-	-	-
Preferred Dividends Paid	-90	-93	-91	-69	-56	-63
Total Dividends Paid	-2,041	-1,707	-1,269	-69	-56	-63
Financing Cash Flow	-3,843	-4,016	-780	-1,234	518	-590
Foreign Exchange Rate Adjustments	-504	173	-240	1,323	195	-973
Net Cash Flow	1,408	3,001	-173	2,108	-394	2,104
Free Cash Flow	6,767	8,373	2,319	3,670	3,322	10,130
Free Cash Flow Growth	8.93%	261.06%	-36.81%	10.48%	-67.21%	30.29%
Free Cash Flow Margin	7.43%	9.54%	2.92%	5.19%	4.89%	12.96%
Free Cash Flow Per Share	10.08	12.52	3.49	5.55	5.01	15.25
Cash Interest Paid	2,957	2,877	2,627	2,245	1,412	1,197
Cash Income Tax Paid	2,446	1,867	1,522	1,839	1,181	1,717
Levered Free Cash Flow	-16,799	-7,790	-8,666	-25,598	6,102	-13,193
Unlevered Free Cash Flow	-14,796	-5,712	-6,730	-23,933	7,446	-11,922
Change in Working Capital	12,456	9,167	581	5,397	3,740	6,972

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.