NetLink NBN Trust Cash Flow Statement

Financials in millions SGD. Fiscal year is April - March.

Millions SGD. Fiscal year is Apr - Mar.

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar '26 Mar 31, 2026	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022
Net Income	83.31	95.35	103.21	109.25	91.26
Depreciation & Amortization	185.4	177.57	172.93	169.67	169.72
Other Amortization	-	-	-	0.95	1.53
Loss (Gain) From Sale of Assets	-0.07	-	-1.12	-0.01	-0.01
Asset Writedown & Restructuring Costs	1.5	3.18	8.84	2.38	1.22
Stock-Based Compensation	1.44	1.54	0.72	0.7	0.59
Provision & Write-off of Bad Debts	0.1	-0.03	0	0	-0.08
Other Operating Activities	-17.44	-43.66	-10.88	-7.78	-6.76
Change in Accounts Receivable	7.18	3.57	15.35	-0.25	-25.08
Change in Inventory	0.71	1.02	2.18	-2.69	1.06
Change in Accounts Payable	4.72	7.77	-3.28	5.72	12.88
Change in Unearned Revenue	-8.01	12.41	0.67	7.75	-
Operating Cash Flow	258.84	258.71	288.61	285.69	258.73
Operating Cash Flow Growth	0.05%	-10.36%	1.02%	10.42%	-2.19%
Capital Expenditures	-97.88	-134.76	-124.29	-88.57	-73.88
Sale of Property, Plant & Equipment	0.08	0.03	4.69	0.01	0.01
Sale (Purchase) of Intangibles	-9.07	-8.92	-8.03	-8.17	-
Investing Cash Flow	-106.87	-143.65	-127.63	-96.73	-73.87
Long-Term Debt Issued	855	91	30	225	-
Total Debt Issued	855	91	30	225	-
Long-Term Debt Repaid	-723.68	-3.62	-3.33	-159.25	-3.86
Total Debt Repaid	-723.68	-3.62	-3.33	-159.25	-3.86
Net Debt Issued (Repaid)	131.33	87.38	26.67	65.76	-3.86
Common Dividends Paid	-210.05	-207.71	-205.37	-202.25	-199.14
Other Financing Activities	-3.12	-0.06	-0.08	-1.58	-2.59
Financing Cash Flow	-81.84	-120.39	-178.77	-138.07	-205.58
Net Cash Flow	70.13	-5.34	-17.79	50.89	-20.72
Free Cash Flow	160.96	123.95	164.33	197.12	184.85
Free Cash Flow Growth	29.86%	-24.57%	-16.64%	6.64%	-9.50%
Free Cash Flow Margin	38.27%	30.15%	39.63%	48.67%	48.91%
Free Cash Flow Per Share	0.04	0.03	0.04	0.05	0.05
Cash Interest Paid	-	20.72	19.79	14.94	7.59
Cash Income Tax Paid	-	42.2	10.93	9.53	3.93
Levered Free Cash Flow	129.35	86.85	120.17	161.06	146.12
Unlevered Free Cash Flow	144.5	100.77	133.45	170.79	150.07
Change in Working Capital	4.6	24.76	14.92	10.52	-11.13

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