Spartan Delta 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	0.31	0.92	0.41	124.4	1.25
Cash & Short-Term Investments	0.31	0.92	0.41	124.4	1.25
Cash Growth	-66.77%	127.59%	-99.67%	9891.89%	-53.65%
Accounts Receivable	52.18	33.32	40.11	129.85	90.81
Other Receivables	9.89	13.83	10.57	10.56	5.93
Receivables	62.06	47.15	50.68	140.41	96.74
Prepaid Expenses	10.01	6.43	8.01	8.01	5.1
Restricted Cash	150.81	150.81	150.86	-	-
Other Current Assets	17.41	5.81	11.89	36.19	7.07
Total Current Assets	240.6	211.12	221.85	309.01	110.16
Property, Plant & Equipment	919.63	691.08	550.92	1,671	1,482
Long-Term Deferred Tax Assets	8.66	30.94	40.59	119.96	142.89
Other Long-Term Assets	4.42	-	6.17	-	7.5
Total Assets	1,173	933.14	819.52	2,099	1,742
Accounts Payable	114.55	78.8	86.17	176.76	176.87
Current Portion of Leases	9.98	9.72	9.47	9.45	10.21
Other Current Liabilities	152.71	153.85	154.61	92.42	56.5
Total Current Liabilities	277.24	242.37	250.25	278.63	243.57
Long-Term Debt	159.86	120.91	44.48	145.18	387.56
Long-Term Leases	9.22	16.11	25.76	36.05	44.59
Other Long-Term Liabilities	78.37	82.32	69.32	122.8	180.04
Total Liabilities	524.68	461.72	389.81	582.65	855.77
Common Stock	112.35	13.53	11.71	553.65	517.19
Additional Paid-In Capital	15.29	6.91	1.3	24.4	16.34
Retained Earnings	521	450.99	416.7	938.77	343.39
Comprehensive Income & Other	-	-	-	-	9.73
Shareholders' Equity	648.63	471.43	429.72	1,517	886.65
Total Liabilities & Equity	1,173	933.14	819.52	2,099	1,742
Total Debt	179.05	146.75	79.71	190.68	442.36
Net Cash (Debt)	-178.75	-145.82	-79.3	-66.28	-441.12
Net Cash Per Share	-0.88	-0.83	-0.46	-0.38	-3.31
Filing Date Shares Outstanding	200.5	199.22	173.2	171.4	153.26
Total Common Shares Outstanding	200.51	173.62	173.2	171.41	153.21
Working Capital	-36.64	-31.25	-28.4	30.38	-133.42
Book Value Per Share	3.23	2.72	2.48	8.85	5.79
Tangible Book Value	648.63	471.43	429.72	1,517	886.65
Tangible Book Value Per Share	3.23	2.72	2.48	8.85	5.79

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