Steppe Gold Ratios and Metrics

Market cap in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2023	FY 2022	FY 2021
Period Ending	Mar '25 Mar 31, 2025	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Debt / Equity Ratio	0.74	0.74	1.42	2.70
Debt / EBITDA Ratio	0.99	0.99	2.14	2.08
Debt / FCF Ratio	1.38	1.38	3.33	4.87
Asset Turnover	0.53	0.53	0.49	-
Inventory Turnover	2.92	2.92	3.94	-
Quick Ratio	0.13	0.13	0.08	0.06
Current Ratio	0.32	0.32	0.59	0.36
Return on Equity (ROE)	52.08%	52.08%	55.34%	-
Return on Assets (ROA)	17.05%	17.05%	11.95%	-
Return on Capital (ROIC)	21.09%	21.09%	13.79%	-
Return on Capital Employed (ROCE)	48.10%	48.10%	21.70%	33.50%

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