PMREF Balance Sheet

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

Millions CAD. 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
Property, Plant & Equipment	5,009	3,700	3,550	2,945	3,212
Total Real Estate Assets	5,009	3,847	3,701	3,129	3,212
Cash & Equivalents	34.29	14.77	44.32	10.95	5.64
Accounts Receivable	-	11.17	7.97	10.42	7.16
Other Receivables	-	1.81	-	-	15.22
Investment In Debt and Equity Securities	-	100	-	-	-
Loans Receivable Current	-	8.59	44.68	40.84	-
Other Current Assets	172.81	283.83	101.61	10.57	7.58
Other Long-Term Assets	67.79	0.3	-	-	-
Total Assets	5,283	4,267	3,900	3,202	3,248
Current Portion of Long-Term Debt	-	377.46	179.93	6.13	364.23
Long-Term Debt	2,576	1,573	1,485	1,002	215.21
Long-Term Leases	-	9.18	10.23	11.18	8.59
Accounts Payable	174.99	44.53	40.88	34.05	56.88
Accrued Expenses	-	66.6	52.72	27.29	3.9
Other Current Liabilities	-	7.16	6.76	6.68	-
Long-Term Unearned Revenue	-	17.66	13.65	10.73	6.14
Other Long-Term Liabilities	-	10.86	6.76	16.47	58.36
Total Liabilities	2,750	2,106	1,796	1,114	1,057
Common Stock	2,533	2,161	2,104	2,088	2,208
Retained Earnings	-	-	-	-	-13.58
Comprehensive Income & Other	-	-	-	-	-2.97
Shareholders' Equity	2,533	2,161	2,104	2,088	2,191
Total Liabilities & Equity	5,283	4,267	3,900	3,202	3,248
Total Debt	2,576	1,960	1,675	1,019	931.23
Net Cash (Debt)	-2,541	-1,945	-1,631	-1,008	-925.6
Net Cash Per Share	-	-17.96	-16.35	-10.08	-9.11
Filing Date Shares Outstanding	-	102.97	96.45	96.94	101.59
Total Common Shares Outstanding	-	99.85	96.59	97.71	101.59
Book Value Per Share	-	21.64	21.78	21.36	21.57
Tangible Book Value	2,533	2,161	2,104	2,088	2,191
Tangible Book Value Per Share	-	21.64	21.78	21.36	21.57

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