DNO ASA Cash Flow Statement

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

Millions USD. 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	-25.2	-27.1	18.6	384.9	203.9
Depreciation & Amortization	317.9	303.7	177.7	585.9	248.7
Other Amortization	10.1	3.8	3.3	5.2	9.4
Loss (Gain) From Sale of Assets	-16.2	-3	-	-	-
Asset Writedown & Restructuring Costs	78.5	47.7	11	21.5	68.5
Loss (Gain) on Equity Investments	-7.7	-3.3	-11.9	-	-
Stock-Based Compensation	-	-	-	-6	-
Provision & Write-off of Bad Debts	14.8	-11.4	44.3	-	-
Other Operating Activities	173	38.4	35.9	-1.3	233.9
Change in Accounts Receivable	127.4	-46.1	-2.3	59.9	-99.5
Change in Inventory	5.3	6	-30.8	-11.2	5
Change in Accounts Payable	-77.5	97.4	-23	11.5	55.1
Change in Other Net Operating Assets	-9.8	6.9	-28.7	5.9	3.8
Operating Cash Flow	590.6	413	194.1	1,056	728.8
Operating Cash Flow Growth	43.00%	112.78%	-81.63%	44.94%	79.42%
Capital Expenditures	-487.7	-199.8	-163.6	-300.2	-193.8
Cash Acquisitions	-203.4	-	-	21.5	-
Sale (Purchase) of Intangibles	-122.9	-172	-119.7	-74.6	-82.1
Investment in Securities	-10.5	-9.4	-6.9	-3.2	-
Other Investing Activities	-6.1	27	9.2	-58.5	-86.1
Investing Cash Flow	-830.6	-354.2	-281	-415	-362
Long-Term Debt Issued	1,783	365	-	-	400
Long-Term Debt Repaid	-1,816	-133.7	-4.3	-334.5	-467.6
Net Debt Issued (Repaid)	-33.1	231.3	-4.3	-334.5	-67.6
Repurchase of Common Stock	-	-	-50.7	-11.7	-
Common Dividends Paid	-151.2	-102.5	-92	-72.8	-22.2
Other Financing Activities	-17.9	-5.6	-	-0.1	-15.6
Financing Cash Flow	-202.2	123.2	-147	-419.1	-105.4
Foreign Exchange Rate Adjustments	-3.1	-1.9	-1.9	-4.5	-2
Miscellaneous Cash Flow Adjustments	-	0.1	0.3	-	-
Net Cash Flow	-445.3	180.2	-235.5	217.7	259.4
Free Cash Flow	102.9	213.2	30.5	756.1	535
Free Cash Flow Growth	-51.73%	599.02%	-95.97%	41.33%	119.26%
Free Cash Flow Margin	6.98%	31.97%	4.57%	54.91%	53.28%
Free Cash Flow Per Share	0.11	0.22	0.03	0.77	0.55
Cash Interest Paid	105.8	53.7	46.4	58.1	73
Cash Income Tax Paid	263.7	0.8	89.6	21.2	-174.7
Levered Free Cash Flow	271.19	-72.75	-28.43	536.9	43.86
Unlevered Free Cash Flow	310.71	-42.8	-1.79	570.89	86.71
Change in Working Capital	45.4	64.2	-84.8	66.1	-35.6

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