NGX:SFSREIT Cash Flow Statement

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

Millions NGN. 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	634.31	477.09	317.5	186.62	160.52
Gain (Loss) on Sale of Assets	-	-172.41	-57.66	-	-
Change in Other Net Operating Assets	-68.61	31.24	183.98	8.78	-3.83
Other Operating Activities	-453.05	-	-	-	-
Operating Cash Flow	112.64	335.92	443.82	195.4	156.69
Operating Cash Flow Growth	-66.47%	-24.31%	127.13%	24.71%	-18.24%
Acquisition of Real Estate Assets	-129.23	-89.84	-426.55	-	-90
Sale of Real Estate Assets	281.75	252.41	335.65	-	45
Net Sale / Acq. of Real Estate Assets	152.53	162.57	-90.9	-	-45
Investment in Marketable & Equity Securities	-724.29	108.88	0.86	110.93	237.16
Other Investing Activities	-5	-45.81	11.24	40.05	36.92
Investing Cash Flow	-576.77	225.64	-78.81	150.98	229.08
Common Dividends Paid	-430	-290	-169	-145	-162
Net Cash Flow	-894.12	271.56	196.02	201.38	223.76
Levered Free Cash Flow	290.69	242.88	161.77	73.32	197.77
Unlevered Free Cash Flow	290.69	242.88	161.77	73.32	197.77
Change in Working Capital	-68.61	31.24	183.98	8.78	-3.83

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