Tritax Big Box REIT Cash Flow Statement

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

Millions GBP. 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	363.3	445.5	70	-599.4	972.6
Depreciation & Amortization	0.9	0.6	-	1.7	5.4
Other Amortization	4.4	4.3	4.4	3.2	2.5
Gain (Loss) on Sale of Assets	11.5	-8.4	1.6	-	-2
Gain (Loss) on Sale of Investments	8.8	4.4	11.2	-14.9	-2.8
Asset Writedown	-169.5	-239.7	40.8	760.9	-838
Stock-Based Compensation	-	-	2.9	1.9	5.5
Income (Loss) on Equity Investments	-0.1	-0.1	-0.4	-0.5	-0.1
Change in Accounts Receivable	29.8	-33.4	3.5	12.1	-12
Change in Accounts Payable	13.2	-26	0.6	-2.9	26.2
Other Operating Activities	52.3	35.5	46.8	19.2	37.1
Operating Cash Flow	312.8	195.4	185.3	177.4	196.1
Operating Cash Flow Growth	60.08%	5.45%	4.45%	-9.54%	42.52%
Acquisition of Real Estate Assets	-1,169	-196.2	-308.9	-286.8	-316.9
Sale of Real Estate Assets	353.9	137.8	326.8	-	4.2
Net Sale / Acq. of Real Estate Assets	-814.7	-58.4	17.9	-286.8	-312.7
Cash Acquisition	20.6	-8.1	-	-	-
Investment in Marketable & Equity Securities	1.5	-	-69.3	-2.8	-0.5
Other Investing Activities	-6.2	-15.8	-15.8	-12.5	-14.1
Investing Cash Flow	-798.8	-82.3	-67.2	-302.1	-327.3
Long-Term Debt Issued	1,607	340	409	319	245.5
Long-Term Debt Repaid	-827.9	-178	-407	-52	-245.5
Net Debt Issued (Repaid)	779.1	162	2	267	-
Issuance of Common Stock	-	-	49.6	2.3	302.8
Common Dividends Paid	-199.8	-174.1	-135.3	-129.2	-114.3
Other Financing Activities	-64.4	-56.6	-45.5	-38.9	-44
Miscellaneous Cash Flow Adjustments	-	-	-0.1	-	-
Net Cash Flow	28.9	44.4	-11.2	-23.5	13.3
Cash Interest Paid	60.2	60.6	47.9	35.8	37.5
Cash Income Tax Paid	-	2.6	-0.4	1.6	-4
Levered Free Cash Flow	304.58	-320.05	121.94	107.4	109.66
Unlevered Free Cash Flow	342.68	-283.73	150.79	127.76	130.98
Change in Working Capital	41.2	-46.7	8	5.3	15.9

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