NewLake Capital Partners Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2020
Period Ending	Mar '25 Mar 31, 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	2020
Net Income	25.54	26.12	24.59	21.98	11.23	-10.67	Upgrade
Depreciation & Amortization	15.03	14.71	14.27	12.83	8.1	2.6	Upgrade
Other Amortization	0.27	0.27	0.28	0.16	-	-	Upgrade
Gain (Loss) on Sale of Assets	-	-	-	0.06	-	-1.49	Upgrade
Stock-Based Compensation	1.71	1.67	1.44	1.49	2.02	4.72	Upgrade
Change in Accounts Payable	0.61	0.4	-0.54	0.26	-1.84	-	Upgrade
Change in Other Net Operating Assets	0.43	0.76	1.68	-0.1	5.4	0.94	Upgrade
Other Operating Activities	-0.46	-0.22	-1.41	0.39	0.36	11.68	Upgrade
Operating Cash Flow	43.47	43.35	40.08	37.01	26.7	7.35	Upgrade
Operating Cash Flow Growth	3.77%	8.14%	8.31%	38.62%	263.32%	839.19%	Upgrade
Acquisition of Real Estate Assets	-4.28	-3.99	-0.35	-36.97	-56.96	-55	Upgrade
Sale of Real Estate Assets	-	-	1.95	0.76	-	-	Upgrade
Net Sale / Acq. of Real Estate Assets	-4.28	-3.99	1.6	-36.21	-56.96	-55	Upgrade
Cash Acquisition	-	-	-	-	62.21	-	Upgrade
Other Investing Activities	-7.25	-15.14	-14.43	-45.25	-15.16	-	Upgrade
Investing Cash Flow	-11.53	-19.14	-12.84	-86.45	-39.91	-65.05	Upgrade
Long-Term Debt Issued	-	6.6	-	1	-	-	Upgrade
Total Debt Issued	3.6	6.6	-	1	-	-	Upgrade
Long-Term Debt Repaid	-	-1	-1	-1.8	-	-	Upgrade
Net Debt Issued (Repaid)	3.6	5.6	-1	-0.8	-	-	Upgrade
Issuance of Common Stock	-	-	-	-	133.09	15.75	Upgrade
Repurchase of Common Stock	-0.39	-0.08	-11.85	-0.81	-	-	Upgrade
Preferred Share Repurchases	-	-	-	-	-0.13	-	Upgrade
Common Dividends Paid	-34.87	-34.25	-33.06	-28.99	-11.67	-5.16	Upgrade
Preferred Dividends Paid	-	-	-	-	-0	-0.02	Upgrade
Total Dividends Paid	-34.87	-34.25	-33.06	-28.99	-11.67	-5.18	Upgrade
Other Financing Activities	-1.89	-1.11	-0.69	-1.85	-0.6	-0.16	Upgrade
Net Cash Flow	-1.6	-5.63	-19.35	-81.91	107.48	-47.28	Upgrade
Cash Interest Paid	0.36	0.3	0.14	0.03	-	-	Upgrade
Levered Free Cash Flow	34.11	34.58	30.66	54.4	-2.34	0.4	Upgrade
Unlevered Free Cash Flow	34.25	34.67	30.61	54.41	-2.34	0.4	Upgrade
Change in Net Working Capital	-0.74	-1.21	0.5	-24.86	20.64	-0.62	Upgrade

Updated Mar 6, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.