SaskEnergy 2024-25 Annual Report

Consolidated Financial Statements

Contents 50 Management’s Responsibility for Financial Statements 51 Management’s Report on Internal Control Over Financial Reporting 52 Independent Auditor’s Report 54 Consolidated Statement of Financial Position 55 Consolidated Statement of Income and Comprehensive Income 56 Consolidated Statement of Changes in Equity 57 Consolidated Statement of Cash Flows

Notes to the Consolidated Financial Statements 58 General Information 58 Basis of Preparation 59 Summary of Material Accounting Policy Information 69 Capital Management 70 Trade and Other Receivables

79 Lease Liability 80 Provisions

80 Long-Term Debt 81 Commitments 82 Unrealized Market Value Adjustments 82 Natural Gas Sales and Purchases 82 Delivery Revenue 83 Transportation and Storage Revenue 83 Saskatchewan Taxes 83 Net Finance Expenses 83 Other Net Losses 84 Related Party Transactions

71 Debt Retirement Funds 71 Financial and Derivative Instruments 73 Financial Risk Management 76 Right-of-Use Assets 77 Intangible Assets 78 Property, Plant and Equipment 78 Short-Term Debt 79 Trade and Other Payables 79 Unearned Customer Capital

Contributions and Government Grants

49

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