Tree Island Steel Balance Sheet

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

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	2.81	8.7	20.34	14.98	33.25	1.25
Cash & Short-Term Investments	2.81	8.7	20.34	14.98	33.25	1.25
Cash Growth	-66.12%	-57.24%	35.82%	-54.96%	2570.76%	37.27%
Accounts Receivable	23.39	26.37	23.75	30.45	38.05	24.82
Other Receivables	1.67	6.44	2.18	1.14	-	-
Receivables	25.06	32.81	25.92	31.59	38.05	24.82
Inventory	56.53	51.96	52.07	57.53	77.51	46.81
Prepaid Expenses	5.01	5.43	4.69	5.22	6.79	3.21
Total Current Assets	90.09	98.89	103.03	109.32	155.6	76.08
Property, Plant & Equipment	64.08	67.3	66.64	65.7	68.93	69.05
Long-Term Deferred Charges	0.07	0.08	0.11	0.02	0.04	0.06
Other Long-Term Assets	10.96	2.55	2.71	1.3	1.23	1.36
Total Assets	165.2	168.82	172.48	176.33	225.81	146.55
Accounts Payable	13.52	16.5	15.11	16.94	27.28	17.77
Short-Term Debt	5.64	-	-	-	-	-
Current Portion of Long-Term Debt	-	-	-	-	2.82	2.83
Current Portion of Leases	1.51	1.43	0.74	2.3	3.55	1.6
Current Income Taxes Payable	-	-	-	-	18.31	1.38
Other Current Liabilities	0.39	0.78	0.81	1.43	2.33	0.67
Total Current Liabilities	21.06	18.71	16.66	20.67	54.28	24.24
Long-Term Debt	-	-	-	-	10.36	38.61
Long-Term Leases	23.77	25.52	23.06	23.62	24.29	28.55
Long-Term Deferred Tax Liabilities	5.56	5.56	5.16	3.49	3.74	3.58
Other Long-Term Liabilities	0.17	0.17	0.22	0.46	0.52	0.49
Total Liabilities	50.56	49.96	45.1	48.23	93.19	95.48
Common Stock	226.6	226.86	230.37	222.63	234.56	234.76
Retained Earnings	-100.83	-97.58	-90.51	-94.13	-88.01	-169.73
Comprehensive Income & Other	-11.13	-10.42	-12.48	-0.4	-13.93	-13.97
Shareholders' Equity	114.64	118.86	127.38	128.1	132.62	51.07
Total Liabilities & Equity	165.2	168.82	172.48	176.33	225.81	146.55
Total Debt	30.92	26.95	23.8	25.91	41.02	71.59
Net Cash (Debt)	-28.12	-18.26	-3.46	-10.94	-7.77	-70.34
Net Cash Per Share	-1.08	-0.69	-0.12	-0.39	-0.27	-2.44
Filing Date Shares Outstanding	25.92	26.02	27.13	28.23	28.43	28.5
Total Common Shares Outstanding	25.92	26.02	27.13	28.29	28.43	28.5
Working Capital	69.03	80.18	86.37	88.64	101.32	51.84
Book Value Per Share	4.42	4.57	4.70	4.53	4.66	1.79
Tangible Book Value	114.64	118.86	127.38	128.1	132.62	51.07
Tangible Book Value Per Share	4.42	4.57	4.70	4.53	4.66	1.79
Land	13.34	13.34	13.34	13.34	13.34	9.75
Buildings	48.46	48.61	47.67	47.33	47.04	46.96
Machinery	50.16	49.88	46.54	45.28	43.8	43.03
Construction In Progress	1.23	0.47	2.16	0.96	0.41	0.74

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.