Pantheon Infrastructure 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
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	77.82	72.13	49.59	6.02
Loss (Gain) From Sale of Investments	-57.5	-48.92	-56.38	-14.69
Other Operating Activities	-27.36	-29.58	-0.01	4.84
Change in Accounts Receivable	-0.03	-0	0.12	-0.14
Change in Accounts Payable	0.07	0.08	0.2	1.2
Operating Cash Flow	-7	-6.29	-6.47	-2.76
Investment in Securities	-28.61	-6.57	-137.61	-212.27
Other Investing Activities	38.27	32.08	9.6	0.93
Investing Cash Flow	9.66	25.51	-128.01	-211.34
Short-Term Debt Issued	13	3	-	-
Total Debt Issued	13	3	-	-
Short-Term Debt Repaid	-13	-3	-	-
Total Debt Repaid	-13	-3	-	-
Issuance of Common Stock	-	-	-	360.6
Repurchase of Common Stock	-	-3.62	-5.62	-
Common Dividends Paid	-20.02	-19.25	-14.3	-3.6
Other Financing Activities	-1.36	-2.19	0.75	-5.69
Financing Cash Flow	-21.39	-25.06	-19.17	351.31
Foreign Exchange Rate Adjustments	-0.05	0.26	0.08	0
Net Cash Flow	-18.78	-5.58	-153.58	137.2
Cash Interest Paid	0.2	0.02	0	0
Levered Free Cash Flow	-5.44	-0.07	-11.32	-
Unlevered Free Cash Flow	-4.74	0.48	-10.96	-
Change in Working Capital	0.04	0.08	0.33	1.07

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