Boralex 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
Cash & Equivalents	292	592	478	361	256
Short-Term Investments	32	-	-	-	-
Accounts Receivable	245	264	236	234	148
Restricted Cash	51	19	22	13	3
Other Current Assets	36	48	35	30	53
Total Current Assets	656	923	771	638	460
Property, Plant & Equipment	4,664	4,446	3,725	3,675	3,634
Goodwill	246	237	234	233	218
Other Intangible Assets	951	963	986	1,059	1,147
Long-Term Investments	646	754	721	827	169
Other Long-Term Assets	485	281	137	107	123
Total Assets	7,648	7,604	6,574	6,539	5,751
Accounts Payable	242	7	22	57	45
Accrued Expenses	-	155	324	279	69
Short-Term Debt	-	5	6	12	-
Current Portion of Long-Term Debt	232	339	271	404	223
Current Portion of Leases	23	22	20	18	16
Other Current Liabilities	13	437	72	51	42
Total Current Liabilities	510	965	715	821	395
Long-Term Debt	4,080	3,638	3,004	2,873	3,414
Long-Term Leases	324	318	327	300	290
Long-Term Deferred Tax Liabilities	246	256	260	267	174
Other Long-Term Liabilities	497	402	244	252	267
Total Liabilities	5,657	5,579	4,550	4,513	4,540
Common Stock	1,542	1,323	1,323	1,323	1,320
Additional Paid-In Capital	-	12	11	10	9
Retained Earnings	-	151	183	174	-299
Comprehensive Income & Other	-	115	112	174	-29
Total Common Equity	1,542	1,601	1,629	1,681	1,001
Minority Interest	449	424	395	345	210
Shareholders' Equity	1,991	2,025	2,024	2,026	1,211
Total Liabilities & Equity	7,648	7,604	6,574	6,539	5,751
Total Debt	4,659	4,322	3,628	3,607	3,943
Net Cash (Debt)	-4,335	-3,730	-3,150	-3,246	-3,687
Net Cash Per Share	-37.16	-36.28	-30.64	-31.58	-35.87
Filing Date Shares Outstanding	158.38	102.77	102.77	102.76	102.62
Total Common Shares Outstanding	158.38	102.77	102.77	102.76	102.62
Working Capital	146	-42	56	-183	65
Book Value Per Share	9.74	15.58	15.85	16.36	9.75
Tangible Book Value	345	401	409	389	-364
Tangible Book Value Per Share	2.18	3.90	3.98	3.79	-3.55
Machinery	-	4,967	4,694	4,679	4,398
Construction In Progress	-	814	157	-	-

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.