SaskEnergy First Quarter Report - June 30, 2022

Consolidated Financial Statements

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (unaudited)

For the Three Months Ended June 30,

(millions)

Notes

2022

2021

OPERATING ACTIVITIES Net income

1

$

$

10

Add (deduct) items not requiring an outlay of cash Net change in fair value of derivative instrument assets and liabilities Change in revaluation of natural gas in storage to net realizable value

1 1

12 12

(15)

-

31 17 51 22 73

Depreciation and amortization

30 15 40 24 64

Net finance expenses

16

Net change in non-cash working capital related to operations

Cash provided by operating activities

INVESTING ACTIVITIES Additions to intangible assets

(1)

(1)

(26)

Additions to property, plant and equipment

(31)

(1)

Decommissioning costs

(1)

(28)

Cash used in investing activities FINANCING ACTIVITIES Debt retirement funds installments

(33)

(10) (29)

(10) (39)

Repayment of short-term debt Proceeds from long-term debt

38

50

(1)

Repayment of principal on lease liability

9

(2)

(23) (11) (36)

Interest paid Dividends paid

(22)

(7)

Cash used in financing activities

(30)

INCREASE IN CASH AND CASH EQUIVALENTS

$

9

$

1

CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD

$

2

$

-

CASH AND CASH EQUIVALENTS, END OF PERIOD

$

11

$

1

The accompanying notes are an integral part of the condensed consolidated financial statements

18

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