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

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