Stor-Age Property REIT Cash Flow Statement

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

Millions ZAR. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2016 - 2020
Period Ending	Sep '25 Sep 30, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021	2016 - 2020
Net Income	1,066	1,411	706.22	724.58	1,020	1,192	Upgrade
Depreciation & Amortization	6.9	7.32	8.93	6.48	6.01	9.62	Upgrade
Other Amortization	2	2	1	2.12	2.3	1.56	Upgrade
Asset Writedown	-443.33	-443.33	-251.14	-244.03	-642.31	-803.24	Upgrade
Stock-Based Compensation	21.66	21.66	18.15	17.71	11.31	14.31	Upgrade
Income (Loss) on Equity Investments	-47.97	-47.97	-37.5	-30.25	0.47	-	Upgrade
Change in Accounts Receivable	-29.21	-29.21	69.4	-34.7	-88.59	44.55	Upgrade
Change in Accounts Payable	-23.05	-23.05	-66.2	22.39	76.66	14.46	Upgrade
Other Operating Activities	35.07	-376.97	124.65	44.84	154.45	-7.11	Upgrade
Operating Cash Flow	587.9	521.3	573.28	509.7	538.79	465.92	Upgrade
Operating Cash Flow Growth	0.83%	-9.07%	12.47%	-5.40%	15.64%	21.83%	Upgrade
Acquisition of Real Estate Assets	-168.69	-145.09	-212.26	-380.13	-1,050	-202.65	Upgrade
Net Sale / Acq. of Real Estate Assets	-168.69	-145.09	-212.26	-380.13	-1,050	-202.65	Upgrade
Investment in Marketable & Equity Securities	-32.45	-78.89	-403.77	-134.75	-224.98	-22.93	Upgrade
Other Investing Activities	63.07	124.93	312.92	289.11	57.85	49.09	Upgrade
Investing Cash Flow	-139.35	-100.43	-304.51	-231.73	-1,223	-178.41	Upgrade
Long-Term Debt Issued	-	1,397	841.79	752.17	2,143	252.64	Upgrade
Total Debt Issued	781.08	1,397	841.79	752.17	2,143	252.64	Upgrade
Long-Term Debt Repaid	-	-1,212	-590.91	-409.78	-1,507	-399	Upgrade
Net Debt Issued (Repaid)	197.04	184.77	250.89	342.39	636.35	-146.36	Upgrade
Issuance of Common Stock	-	-	-	-	596.58	419.3	Upgrade
Repurchase of Common Stock	-19.83	-16.21	-2.57	-36.57	-	-	Upgrade
Common Dividends Paid	-534.54	-548.35	-571.88	-549.61	-480.58	-460.49	Upgrade
Other Financing Activities	-	-	-	-	-5.8	-2.28	Upgrade
Foreign Exchange Rate Adjustments	-14.49	-13.03	8.16	99.02	-11.4	-2.96	Upgrade
Net Cash Flow	76.73	28.04	-46.64	133.2	51.26	94.72	Upgrade
Cash Interest Paid	253.83	249.96	214.03	178.88	132.98	153	Upgrade
Cash Income Tax Paid	54.2	54.17	40.75	32.53	0.85	-	Upgrade
Levered Free Cash Flow	364.54	300.74	427.09	374.29	383.19	357.47	Upgrade
Unlevered Free Cash Flow	552.94	481.28	574.38	480.93	456.22	424.91	Upgrade
Change in Working Capital	-52.69	-52.69	2.97	-11.76	-13.17	58.49	Upgrade

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.