MREIT Cash Flow Statement

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

Millions PHP. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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
Net Income	4,715	4,400	3,974	168.34	-176.55	4,028
Depreciation & Amortization	-	-	0.04	0.03	0.03	-
Asset Writedown	-640.86	-640.86	-790.42	2,732	2,822	-1,404
Change in Accounts Receivable	-1,668	-322.8	-141.45	-141.94	-165.62	-245.83
Change in Accounts Payable	-873.86	-326.03	24.35	291.69	321.8	200.63
Change in Other Net Operating Assets	801.07	-145.33	135.98	-99.69	-330.03	682.38
Other Operating Activities	529.93	527.84	302.17	306.31	309.01	-155.67
Operating Cash Flow	2,863	3,492	3,505	3,257	2,781	3,106
Operating Cash Flow Growth	-28.54%	-0.35%	7.60%	17.13%	-10.47%	43.56%
Acquisition of Real Estate Assets	-	-	-	-	-	-18,232
Net Sale / Acq. of Real Estate Assets	-	-	-	-	-	-18,232
Other Investing Activities	-94.78	-124.51	-127.06	-4.19	-	-
Investing Cash Flow	-94.78	-124.51	-127.06	-4.19	-	-18,232
Total Debt Issued	-	-	-	-	-	14,391
Net Debt Issued (Repaid)	-	-	-	-	-	14,391
Issuance of Common Stock	187.5	187.5	-	-	-	-
Common Dividends Paid	-3,717	-3,717	-2,763	-2,687	-2,467	-1,215
Other Financing Activities	-663.11	-475.62	-268.03	-267.3	-267.36	-
Net Cash Flow	-1,424	-637.44	346.34	298.39	46.72	-1,950
Cash Interest Paid	475.62	475.62	268.03	267.3	267.36	-
Cash Income Tax Paid	6.06	6.06	9.57	12.59	4.35	3.18
Levered Free Cash Flow	210.98	1,887	2,121	2,157	1,593	-
Unlevered Free Cash Flow	544.12	2,218	2,311	2,348	1,786	-
Change in Working Capital	-1,741	-794.16	18.88	50.06	-173.86	637.18

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