SaskEnergy Third Quarter Report - December 31, 2025

Financial and Operating Highlights

Three months ended December 31,

Nine months ended December 31,

CONSOLIDATED FINANCIAL INFORMATION ($ millions)

2025

2024

2025

2024

Delivery

100

96 64 12

208 196

205 187

Transportation and storage Realized commodity margin

66 18 15 10

27 22 46

21

Realized asset optimization margin Customer capital contributions

6

9

12

27

Total revenue and margins

209

190

499

449

Employee benefits

33 58 38

30 55 35

95

90

Operating and maintenance Depreciation and amortization

174 109

157 104

Saskatchewan taxes

4 1

4 2

16

15

Loss on trade and other receivables

1

-

Net finance expense

20

19

58

57

Other net losses Total expenses

1

-

6

2

155

145

459

425

Net income before unrealized market value adjustments

54

45

40

24

Market value adjustments CONSOLIDATED NET INCOME

(2)

2

(9)

(3)

52 53

47 87

31

21

Cash provided by operating activities Cash (used in) investing activities Cash provided by financing activities

141

226

(115)

(106)

(300)

(215)

103

18

199

(30)

Dividends declared

14

7

18

15

Total assets Total net debt

4,056 2,125 61.5%

3,766 1,896 60.0%

Debt/Equity ratio

OPERATING STATISTICS Distribution energy (petajoules) Residential/Farm

15 11 53 79

13 11 52 76

21 18

20 18

Commercial

Industrial

147 186

142 180

Total

Weather (compared to last 30 years) Transmission energy (petajoules) Domestic

Near normal 1% warmer

5% warmer

6% warmer

110

110

278

272

Export

2

1

9

2

Total

112

111

287

274

Cash used in Investing Activities $ millions

Income before MVA $ millions

Cash from Operations $ millions

$300

$40

$226

$209

$215

$196

$141

$24

$14

2025

2024

2023

2025

2024

2023

2025

2024

2023

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