APPTF Cash Flow Statement

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

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	41.7	72	50.99	83.37	85.42	26.97
Depreciation & Amortization	0.06	0.14	0.26	0.7	0.18	0.18
Other Amortization	1.11	0.87	0.93	0.78	0.56	0.54
Gain (Loss) on Sale of Investments	4.79	9.81	7.74	-26	-15.98	17.83
Asset Writedown	5.02	-27.66	4.11	2.29	-75.16	5.68
Stock-Based Compensation	3.35	2.72	2.41	2.33	1.98	1.32
Change in Accounts Receivable	-2.94	1.31	-0.18	-1.6	2.38	-1.94
Change in Accounts Payable	1.12	-0.53	0.82	-0.03	-2.25	0.52
Other Operating Activities	21.95	17.26	7.18	2.71	65.07	5.79
Operating Cash Flow	76.15	75.91	74.27	64.55	62.21	57.17
Operating Cash Flow Growth	-1.22%	2.22%	15.06%	3.75%	8.82%	9.55%
Acquisition of Real Estate Assets	-160.62	-32.49	-110.43	-42.69	-24.87	-45.78
Sale of Real Estate Assets	53.88	53.88	-	17.95	-	-
Net Sale / Acq. of Real Estate Assets	-106.74	21.38	-110.43	-24.74	-24.87	-45.78
Investing Cash Flow	-106.74	21.38	-110.43	-24.74	-24.87	-45.78
Long-Term Debt Issued	-	-	125.9	50	40.69	25.6
Total Debt Issued	132.3	-	125.9	50	40.69	25.6
Long-Term Debt Repaid	-	-33.11	-25.82	-32.82	-23.06	-28.74
Total Debt Repaid	-33.11	-33.11	-25.82	-32.82	-23.06	-28.74
Net Debt Issued (Repaid)	99.19	-33.11	100.08	17.19	17.63	-3.14
Common Dividends Paid	-43.53	-39.45	-39.44	-39.43	-39.22	-38.3
Other Financing Activities	-24.63	-24.69	-24.58	-17.64	-15.58	-14.91
Net Cash Flow	0.44	0.04	-0.1	-0.08	0.17	-44.96
Cash Interest Paid	23.3	24.02	23.57	16.92	14.67	14.88
Levered Free Cash Flow	90.35	33.84	28.37	72.72	20.68	19.57
Unlevered Free Cash Flow	107.21	54.58	47.58	66.91	19.88	40.01
Change in Working Capital	-1.82	0.78	0.64	-1.63	0.14	-1.42

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.