SaskEnergy Third Quarter Report - December 31, 2025

Consolidated Financial Statements (unaudited)

Condensed Consolidated Statement of Comprehensive Income

For the Nine Months Ended December 31, 2025

For the Nine Months Ended December 31, 2024

Income before Unrealized Market Value Adjust- ments

Income before Unrealized Market Value Adjust- ments

Unrealized Market Value Adjust- ments (Note 10)

Unrealized Market Value Adjust- ments (Note 10)

Total

Total

(millions)

Notes

REVENUE Natural gas sales

11 12 13

$

207 208 196

$

1

$

208 208 196

$

168 205 187

$

(1)

$

167 205 187

Delivery

- - -

- - -

Transportation and storage Customer capital contributions

46

46

27

27

657

1

658

587

(1)

586

EXPENSES Natural gas purchases (net of change in inventory)

11

158

10

168

138

2

140

Employee benefits

95

- - - - -

95

90

- - - - -

90

Operating and maintenance Depreciation and amortization

174 109

174 109

157 104

157 104

Saskatchewan taxes

16

16

15

15

Loss on trade and other receivables

1

1

-

-

553

10

563

504

2

506

NET INCOME BEFORE THE FOLLOWING

104

(9)

95

83

(3)

80

Net finance expenses

14

(58)

- -

(58)

(57)

- -

(57)

Other losses

(6)

(6)

(2)

(2)

TOTAL NET INCOME

$

40

$

(9)

$

31

$

24

$

(3)

$

21

ITEMS THAT MAY BE RECLASSIFIED TO NET INCOME Change in fair value of debt retirement funds designated as FVOCI (1)

-

(2)

(2)

-

4

4

COMPREHENSIVE INCOME

$

40

$

(11)

$

29

$

24

$

1

$

25

The accompanying notes are an integral part of the condensed consolidated financial statements (1) Fair value through other comprehensive income (FVOCI)

15

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