Exxaro Resources Cash Flow Statement

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

Millions ZAR. 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	7,564	7,724	11,292	13,826	12,667
Depreciation & Amortization	2,888	2,773	2,715	2,679	2,677
Other Amortization	5	4	4	6	5
Loss (Gain) From Sale of Assets	211	43	57	98	993
Asset Writedown & Restructuring Costs	-	-	-	-	21
Loss (Gain) From Sale of Investments	-43	153	21	134	-1,573
Loss (Gain) on Equity Investments	-4,488	-4,270	-6,987	-6,477	-9,844
Stock-Based Compensation	184	208	212	207	246
Provision & Write-off of Bad Debts	5	13	4	4	92
Other Operating Activities	2,403	2,322	3,578	4,287	732
Change in Accounts Receivable	-140	-420	449	-1,312	266
Change in Inventory	-695	-268	-212	1	-113
Change in Accounts Payable	640	240	68	999	40
Change in Other Net Operating Assets	-163	-102	-72	-42	-48
Operating Cash Flow	8,380	8,425	11,129	14,410	8,432
Operating Cash Flow Growth	-0.53%	-24.30%	-22.77%	70.90%	53.50%
Capital Expenditures	-5,099	-2,448	-2,699	-1,652	-2,471
Sale of Property, Plant & Equipment	1	-	5	4	11
Divestitures	116	-	-	-	99
Sale (Purchase) of Intangibles	-33	-27	-	-	-
Investment in Securities	-219	-249	-164	-310	5,835
Other Investing Activities	3,310	3,838	4,950	5,995	9,970
Investing Cash Flow	-1,867	1,084	2,045	3,990	13,419
Long-Term Debt Issued	7,365	705	489	-	4,725
Long-Term Debt Repaid	-3,437	-1,447	-699	-1,215	-8,181
Net Debt Issued (Repaid)	3,928	-742	-210	-1,215	-3,456
Repurchase of Common Stock	-1,393	-321	-645	-441	-1,888
Common Dividends Paid	-4,251	-4,362	-5,505	-6,686	-8,194
Other Financing Activities	-1,476	-1,935	-1,868	-2,275	-3,131
Financing Cash Flow	-3,192	-8,742	-8,228	-10,617	-18,032
Foreign Exchange Rate Adjustments	-261	4	101	-12	35
Net Cash Flow	3,060	771	5,047	7,771	3,854
Free Cash Flow	3,281	5,977	8,430	12,758	5,961
Free Cash Flow Growth	-45.11%	-29.10%	-33.92%	114.02%	157.16%
Free Cash Flow Margin	7.85%	14.68%	21.78%	27.51%	18.19%
Free Cash Flow Per Share	13.79	24.70	34.84	52.72	24.13
Cash Interest Paid	1,059	1,095	1,100	982	1,017
Cash Income Tax Paid	2,281	2,632	2,603	4,121	1,320
Levered Free Cash Flow	851.13	4,139	6,468	9,588	7,473
Unlevered Free Cash Flow	1,332	4,723	7,111	10,118	7,874
Change in Working Capital	-358	-550	233	-354	145

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