Rural Funds Group Cash Flow Statement

Financials in millions AUD. Fiscal year is July - June.

Millions AUD. Fiscal year is Jul - Jun.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '25 Jun 30, 2025	Jun '24 Jun 30, 2024	Jun '23 Jun 30, 2023	Jun '22 Jun 30, 2022	Jun '21 Jun 30, 2021
Net Income	31.46	83.25	111.95	206.81	117.7
Depreciation & Amortization	15.79	15.76	12.42	5.74	4.84
Other Amortization	0.41	0.27	0.21	0.2	0.2
Gain (Loss) on Sale of Assets	0.21	-0.44	-0.8	-0.32	-32.87
Gain (Loss) on Sale of Investments	19.83	3.14	-9.09	-52.52	-13.04
Asset Writedown	-7.79	-58.77	-59.94	-115.69	-37.43
Income (Loss) on Equity Investments	0.32	-	-	-	-
Change in Accounts Receivable	1.48	-9.99	-3.66	-1.8	0.5
Change in Accounts Payable	3.41	-0.1	1.73	1.79	-0.31
Change in Other Net Operating Assets	9.12	8.65	-5.69	-2.06	-3.62
Other Operating Activities	-23.57	-15.32	-22.82	-5.25	1.06
Operating Cash Flow	55.73	31.58	29.22	37.85	35.41
Operating Cash Flow Growth	76.46%	8.10%	-22.82%	6.91%	-18.29%
Acquisition of Real Estate Assets	-86.01	-100.71	-161.32	-163.87	-125.77
Sale of Real Estate Assets	65.58	0.39	0.92	5.36	99.26
Net Sale / Acq. of Real Estate Assets	-20.44	-100.32	-160.4	-158.5	-26.51
Cash Acquisition	-	-	-1.39	-	-
Investment in Marketable & Equity Securities	-10.4	-4.65	0.8	12.84	-7.1
Other Investing Activities	-1.93	-0.24	-1.48	-24.44	0.06
Investing Cash Flow	-35.74	-138.25	-172.03	-215.61	-41.6
Long-Term Debt Issued	223.49	223.37	303.11	378.22	185.29
Long-Term Debt Repaid	-200.18	-76.23	-120.32	-267.15	-139.77
Net Debt Issued (Repaid)	23.31	147.14	182.79	111.08	45.53
Issuance of Common Stock	2.89	6.29	5.55	103.79	4.87
Common Dividends Paid	-45.57	-45.41	-44.85	-43.04	-37.7
Other Financing Activities	0.06	0.13	0.11	-0.75	0.05
Net Cash Flow	0.67	1.49	0.79	-6.69	6.56
Cash Interest Paid	27.8	20.57	17.28	11.19	10.5
Cash Income Tax Paid	0.94	-0.26	-0.42	0.56	2.29
Levered Free Cash Flow	45.38	-82.47	-9.8	-31.64	71.69
Unlevered Free Cash Flow	75.42	-67.55	-4.58	-57.06	70.17
Change in Working Capital	19.09	3.7	-2.72	-1.12	-5.05

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