ZEB Nickel Cash Flow Statement

Financials in millions CAD. Fiscal year is April - March.

Millions CAD. Fiscal year is Apr - Mar.

Fiscal Year	FY 2025	FY 2024	FY 2022	FY 2021	FY 2021
Period Ending	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Jan '21 Jan 31, 2021
Net Income	-0.42	-7.15	-0.98	-1	-1
Stock-Based Compensation	-	0.21	0.34	0.26	-
Other Adjustments	0.03	6.12	0.24	0.53	-
Changes in Accounts Payable	0.35	0.44	0.02	-0.22	-0.22
Changes in Other Operating Activities	0.02	0.07	-0.1	-0.11	-0.03
Operating Cash Flow	-0.02	-0.32	-0.48	-0.54	-1.26
Other Investing Activities	-	-0.46	-1.02	-0.28	-
Investing Cash Flow	-	-0.46	-1.02	-0.28	-
Long-Term Debt Issued	0.02	0.37	-	-	-
Net Long-Term Debt Issued (Repaid)	0.02	0.37	-	-	-
Issuance of Common Stock	-	-	0.01	2.7	-
Net Common Stock Issued (Repurchased)	-	-	0.01	2.7	-
Financing Cash Flow	0.02	0.37	0.01	2.7	2.7
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-	-0	-0	0.04	-
Net Cash Flow	-0	-0.41	-1.5	1.92	1.92
Free Cash Flow	-0.02	-0.32	-0.48	-0.54	-1.26
Free Cash Flow Per Share	-0.00	-0.01	-0.01	-0.01	-0.03
Levered Free Cash Flow	-0.04	-6.27	-1.06	-1.34	-0.42
Unlevered Free Cash Flow	-0.06	-6.61	-0.79	-0.81	-0.42