Baytex Energy Cash Flow Statement

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
Net Income	-603.78	236.6	-233.36	855.61	1,614
Depreciation & Amortization	638.47	484.09	1,911	365.23	-1,050
Other Amortization	-	-	11.94	6.29	4.86
Loss (Gain) From Sale of Assets	508.08	1.22	141.3	-4.9	-9.67
Stock-Based Compensation	-	-	16.24	3.16	6.39
Other Operating Activities	145.32	301.68	-330.36	-78.58	174.03
Change in Other Net Operating Assets	18.11	-17.92	-220.9	26.07	-26.58
Operating Cash Flow	1,486	1,908	1,296	1,173	712.38
Operating Cash Flow Growth	-22.13%	47.27%	10.47%	64.64%	101.75%
Capital Expenditures	-1,278	-1,314	-1,056	-524.04	-315.77
Sale of Property, Plant & Equipment	3,042	46.5	160.26	25.65	7.8
Cash Acquisitions	-	-	-662.58	-	-
Other Investing Activities	17.82	-11.38	46.81	9.4	-2.8
Investing Cash Flow	1,781	-1,279	-1,512	-488.99	-310.76
Long-Term Debt Issued	-	780.94	1,524	-	-
Long-Term Debt Repaid	-2,227	-1,136	-954.39	-517.3	-401.62
Net Debt Issued (Repaid)	-2,227	-355.16	569.19	-517.3	-401.62
Repurchase of Common Stock	-29.42	-222.2	-221.93	-158.98	-
Common Dividends Paid	-69.19	-71.99	-37.52	-	-
Other Financing Activities	-4.62	-18.82	-43.49	-2.14	-
Financing Cash Flow	-2,331	-668.17	266.25	-678.42	-401.62
Net Cash Flow	936.5	-39.21	50.35	5.46	-
Free Cash Flow	207.48	593.85	239.61	648.83	396.62
Free Cash Flow Growth	-65.06%	147.83%	-63.07%	63.59%	462.77%
Free Cash Flow Margin	14.01%	36.82%	8.83%	27.89%	25.94%
Free Cash Flow Per Share	0.27	0.73	0.34	1.15	0.69
Cash Interest Paid	202.49	200.22	153.22	84.23	93.11
Cash Income Tax Paid	22.09	19.43	3.6	2.3	0.25
Levered Free Cash Flow	-759.45	-750.95	776.78	353.69	-227.33
Unlevered Free Cash Flow	-623.49	-623.87	872.19	401.58	-171.61
Change in Working Capital	18.11	-17.92	-220.9	26.07	-26.58

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