TSXV:NET.UN 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	16.67	7.1	18.22	-6.49	25.09
Gain (Loss) on Sale of Assets	-	-	-	-	-0.06
Asset Writedown	-3.04	4.76	-4.32	16.74	-13.36
Stock-Based Compensation	1.04	0.69	0.39	0.6	0.31
Income (Loss) on Equity Investments	-3.13	-1.86	-3.08	0.9	-2.97
Change in Accounts Payable	0.31	-0.38	0.27	0.55	0.37
Change in Other Net Operating Assets	0.17	0.34	-0.05	-0.34	-0.09
Other Operating Activities	0.35	0.01	-0.18	-0.63	-0.03
Operating Cash Flow	12.36	10.65	11.25	11.33	9.26
Operating Cash Flow Growth	16.05%	-5.34%	-0.69%	22.33%	49.70%
Acquisition of Real Estate Assets	-13.01	-9.81	-1.57	-44.3	-53.73
Sale of Real Estate Assets	-	12.47	4.23	0.16	-
Net Sale / Acq. of Real Estate Assets	-13.01	2.66	2.66	-44.14	-53.73
Investment in Marketable & Equity Securities	1.46	0.43	0.56	2.27	-2
Investing Cash Flow	-11.34	3.72	2.71	-41.56	-55.79
Short-Term Debt Issued	-	-	0.24	12.84	2.89
Long-Term Debt Issued	21.21	6.5	2.35	27.92	29.08
Total Debt Issued	21.21	6.5	2.59	40.76	31.97
Short-Term Debt Repaid	-3.93	-2.73	-	-	-
Long-Term Debt Repaid	-11.07	-11.16	-8.19	-5.59	-3.33
Total Debt Repaid	-15	-13.89	-8.19	-5.59	-3.33
Net Debt Issued (Repaid)	6.21	-7.39	-5.6	35.18	28.64
Issuance of Common Stock	-	-	0.01	1.62	19.62
Repurchase of Common Stock	-	-	-0.5	-	-
Common Dividends Paid	-7.16	-7.09	-7.1	-6.97	-5.58
Net Cash Flow	0.08	-0.11	0.78	-0.4	-3.85
Cash Interest Paid	6.94	6.71	6.82	5.77	3.88
Levered Free Cash Flow	10.38	11.93	9.64	3.82	7.55
Unlevered Free Cash Flow	15.08	16.51	14.42	7.94	10.48
Change in Working Capital	0.48	-0.05	0.22	0.21	0.28

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.