Zenith Energy Balance Sheet

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

Millions CAD. 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
Cash & Equivalents	2.41	3.2	0.21	1.44	1.15	1.63
Cash & Short-Term Investments	2.41	3.2	0.21	1.44	1.15	1.63
Cash Growth	2706.98%	1445.41%	-85.65%	25.06%	-29.31%	33.69%
Accounts Receivable	1.27	1.26	0.95	11.77	4.44	1.8
Other Receivables	28.18	17.88	1.83	14.91	14.74	12.84
Receivables	29.45	19.13	2.78	26.68	19.18	14.64
Inventory	2.5	2.41	2.03	6.45	8.45	2.67
Other Current Assets	5.48	5.48	-	-	-	-
Total Current Assets	39.84	30.22	5.02	34.57	28.77	18.94
Property, Plant & Equipment	138.93	134.5	134.46	227.57	229.77	100.48
Other Intangible Assets	-	-	0.54	-	-	-
Other Long-Term Assets	-	-	-	0.78	0.75	0.01
Total Assets	178.77	164.72	140.02	262.91	259.3	119.44
Accounts Payable	5.77	7.5	4	12.88	13.72	15.13
Current Portion of Long-Term Debt	25.7	14.32	9.49	8.7	6.82	9.33
Other Current Liabilities	1.18	1.19	3.25	9.58	11.07	5.9
Total Current Liabilities	32.65	23.01	16.74	31.16	31.6	30.35
Long-Term Debt	27.74	34.18	32.19	25.25	11.52	3.42
Long-Term Deferred Tax Liabilities	2.4	2.4	2.4	14.23	14.23	2.4
Other Long-Term Liabilities	40.48	39.5	38.71	100.62	98.86	59.46
Total Liabilities	103.26	99.09	90.04	171.26	156.21	95.63
Common Stock	89.74	81.2	66.22	64.09	60.12	48.02
Additional Paid-In Capital	7.64	7.57	7.39	5.44	4.75	4.64
Retained Earnings	-28.73	-30.07	-27.02	16.8	32.93	-31.32
Comprehensive Income & Other	6.86	6.92	3.38	5.33	5.28	2.47
Shareholders' Equity	75.51	65.63	49.98	91.65	103.09	23.8
Total Liabilities & Equity	178.77	164.72	140.02	262.91	259.3	119.44
Total Debt	53.44	48.5	41.68	33.94	18.34	12.75
Net Cash (Debt)	-51.02	-45.3	-41.48	-32.5	-17.18	-11.11
Net Cash Per Share	-0.11	-0.14	-0.15	-0.14	-0.05	-0.09
Filing Date Shares Outstanding	548.29	493.22	271.55	231.03	187.26	140.77
Total Common Shares Outstanding	548.29	466.87	271.55	231.03	187.26	116.39
Working Capital	7.19	7.21	-11.72	3.41	-2.83	-11.41
Book Value Per Share	0.14	0.14	0.18	0.40	0.55	0.20
Tangible Book Value	75.51	65.63	49.44	91.65	103.09	23.8
Tangible Book Value Per Share	0.14	0.14	0.18	0.40	0.55	0.20

Source: S&P Global Market Intelligence. Standard template. Financial Sources.