TUERF 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	-31.74	-20.95	-40.62	16.53	51	39.75
Other Amortization	1.45	1.66	1.4	1.52	1.37	1.16
Gain (Loss) on Sale of Investments	1.13	2.11	1.16	-5.44	-3.84	4.89
Asset Writedown	50.78	43.21	80.21	41.93	-6.22	5.71
Stock-Based Compensation	0.2	0.4	-0.01	0.09	1.25	0.21
Change in Accounts Receivable	0.7	-1.69	2.74	1.06	-1.2	0.73
Change in Accounts Payable	7.12	2.51	-5.17	12.51	-4.17	3.52
Change in Other Net Operating Assets	1.77	0.58	1.08	0.07	-0.75	3.59
Other Operating Activities	46.78	47.86	33.16	35.02	39.85	31.82
Operating Cash Flow	78.18	75.67	73.94	103.27	77.31	91.38
Operating Cash Flow Growth	2.01%	2.34%	-28.40%	33.58%	-15.40%	55.96%
Acquisition of Real Estate Assets	-30.62	-29.84	-14.93	-72.8	-20.97	-20
Sale of Real Estate Assets	14.78	59.41	47.37	-	11.59	0.61
Net Sale / Acq. of Real Estate Assets	-15.84	29.57	32.45	-72.8	-9.38	-19.39
Cash Acquisition	-	-	-	-	-22.36	-
Investing Cash Flow	-15.84	29.57	32.45	-72.8	-31.74	-19.39
Short-Term Debt Issued	-	22	24.7	39.7	33.4	4.35
Long-Term Debt Issued	-	27.86	131.24	150.63	123.72	150.81
Total Debt Issued	266.34	49.86	155.94	190.33	157.12	155.16
Short-Term Debt Repaid	-	-15.43	-15.5	-25.3	-33.4	-4.35
Long-Term Debt Repaid	-	-89.31	-180.16	-123.14	-117.14	-132.3
Total Debt Repaid	-287.62	-104.74	-195.66	-148.44	-150.54	-136.65
Net Debt Issued (Repaid)	-21.28	-54.89	-39.73	41.89	6.58	18.51
Issuance of Common Stock	-	-	-	9.05	3.23	-
Repurchase of Common Stock	-3.79	-15.91	-3.38	-	-	-
Common Dividends Paid	-4.97	-	-31.15	-48.63	-47.18	-44.05
Other Financing Activities	-32.91	-31.06	-32.69	-28.75	-27.31	-27.55
Net Cash Flow	-0.6	3.39	-0.56	4.03	-19.1	18.91
Cash Interest Paid	32.95	31.11	32.75	28.81	27.38	27.32
Levered Free Cash Flow	41.84	17.65	46.66	-35.99	29.97	40.57
Unlevered Free Cash Flow	62.63	38.23	67.84	-20.89	45.33	61.96
Change in Working Capital	9.58	1.39	-1.35	13.63	-6.11	7.83

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