Topaz 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	128.74	105.66	47.64	99.36	27.56
Depreciation & Amortization	135.13	124.56	217.39	209.46	155.42
Stock-Based Compensation	7.34	5.36	3.2	1.48	1.98
Other Adjustments	41.55	43.74	18.07	23.47	5.98
Changes in Other Operating Activities	-4	-3.05	14.27	-15.89	-25.92
Operating Cash Flow	308.76	276.27	300.58	317.88	165.02
Operating Cash Flow Growth	11.76%	-8.09%	-5.44%	92.63%	97.29%
Capital Expenditures	-130.7	-437.9	-54.54	-354.69	-922.1
Other Investing Activities	-1.49	-2.09	2.58	0.59	0.69
Investing Cash Flow	-132.19	-439.99	-51.96	-354.1	-921.4
Long-Term Debt Issued	31.5	148.32	-73.66	188	278.33
Net Long-Term Debt Issued (Repaid)	31.5	148.32	-73.66	188	278.33
Issuance of Common Stock	1.95	212.03	4.82	6.58	384.93
Net Common Stock Issued (Repurchased)	1.95	212.03	4.82	6.58	384.93
Common Dividends Paid	-207.69	-191.17	-176.32	-157.29	-108.74
Other Financing Activities	-1.9	-8.77	-	-1.07	-18.33
Financing Cash Flow	-176.14	160.41	-245.16	36.22	536.2
Net Cash Flow	0.43	-3.31	3.46	-	-220.19
Free Cash Flow	178.06	-161.63	246.04	-36.81	-757.08
FCF Margin	49.76%	-51.24%	73.50%	-10.01%	-368.07%
Free Cash Flow Per Share	1.15	-1.10	1.69	-0.26	-6.09
Levered Free Cash Flow	160.67	-62.41	151.11	126.24	-486.7
Unlevered Free Cash Flow	149.49	-189.62	245.46	-50.65	-762.24

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.