Northern Dynasty Minerals Balance Sheet

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

Millions CAD. 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
Cash & Equivalents	52.49	54.73	16.14	18.2	14.17	22.29
Cash & Short-Term Investments	52.49	54.73	16.14	18.2	14.17	22.29
Cash Growth	344.38%	239.08%	-11.31%	28.41%	-36.42%	-47.50%
Other Receivables	0.13	0.12	0.15	0.68	0.13	0.16
Receivables	0.13	0.12	0.15	0.68	0.13	0.16
Prepaid Expenses	1.42	1.99	1.76	2.25	2.53	1.35
Other Current Assets	-	-	-	-	-	0.35
Total Current Assets	54.04	56.84	18.05	21.13	16.84	24.16
Property, Plant & Equipment	64	63.17	118.13	121.85	127.53	134.34
Other Long-Term Assets	1	0.98	0.98	0.87	0.85	0.79
Total Assets	119.03	120.99	137.16	143.85	145.22	159.28
Accounts Payable	1.31	0.72	0.92	0.93	1.68	1.92
Accrued Expenses	1.6	1.56	0.27	0.29	0.24	0.38
Current Portion of Long-Term Debt	2.8	2.65	2.75	2.2	-	-
Current Portion of Leases	0.19	0.18	0.18	0.13	0.15	0.13
Other Current Liabilities	70.46	97.8	35.31	16.69	-	-
Total Current Liabilities	76.35	102.9	39.42	20.23	2.07	2.42
Long-Term Leases	0.32	0.36	0.55	0.34	0.46	0.56
Other Long-Term Liabilities	-	-	-	-	-	0.8
Total Liabilities	76.67	103.26	39.96	20.56	2.53	3.79
Common Stock	744.36	740.75	702.76	702.95	700.28	700.28
Retained Earnings	-816.11	-837.24	-732.87	-696.96	-675.96	-651.52
Comprehensive Income & Other	114.11	114.22	127.31	117.29	118.37	106.74
Shareholders' Equity	42.37	17.73	97.2	123.28	142.69	155.49
Total Liabilities & Equity	119.03	120.99	137.16	143.85	145.22	159.28
Total Debt	3.3	3.18	3.47	2.66	0.61	0.69
Net Cash (Debt)	49.19	51.55	12.67	15.54	13.56	21.6
Net Cash Growth	493.88%	306.94%	-18.48%	14.59%	-37.23%	-48.00%
Net Cash Per Share	0.09	0.09	0.02	0.03	0.03	0.04
Filing Date Shares Outstanding	560.31	559.99	538.58	538.48	529.78	529.78
Total Common Shares Outstanding	559.99	558.46	537.79	538.48	529.78	529.78
Working Capital	-22.31	-46.06	-21.37	0.9	14.77	21.73
Book Value Per Share	0.08	0.03	0.18	0.23	0.27	0.29
Tangible Book Value	42.37	17.73	97.2	123.28	142.69	155.49
Tangible Book Value Per Share	0.08	0.03	0.18	0.23	0.27	0.29
Machinery	1.61	1.61	1.6	1.6	1.6	1.59