ARC Resources Ltd.

TSX-ARX

Operating Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Net Income	214.4	396.1	404.7	370.3	328.9	239.5
Net Income
Depreciation & Amortization	—	—	349.3	—	—	—
Depletion, Depreciation, Amortization and Impairment
Depletion, Depreciation, Amortization, and Impairment
Depletion, Depreciation and Amortization
Other Adjustments	564.6	286	103	400.1	263.5	263.3
Unrealized Gain on Risk Management Contracts
Accretion of Asset Retirement Obligations
Impairment of Financial Assets
Impairment of Property, Plant and Equipment
Depletion, Depreciation and Amortization and Impairment of Property, Plant and Equipment
Exploration and Evaluation Expenses
Unrealized Gain on Foreign Exchange
Gain on Business Combinations
Gain on Disposal of Assets
Deferred Taxes
Other
Changes in Other Operating Activities	-65.7	17	156	-119.5	-74	40.2
Net Change in Other Liabilities
Change in Non-Cash Working Capital
Cash from Operating Activities	713.3	699.1	1,013	650.9	518.4	543
Cash Flow from Operating Activities

Investing Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Capital Expenditure	-496.7	-489	-452.6	-350.3	-450.1	-532.5
Property, Plant and Equipment Development Expenditures
Acquisition of Assets
Exploration and Evaluation Asset Expenditures
Proceeds from Sale of Property, Plant & Equipment	—	4	—	—	80	—
Disposition of Assets
Purchases of Investments	-0.8	-0.9	-0.3	-2.1	-0.6	-1.3
Net Purchase of Short-Term Investments
Long-Term Investments
Payments for Business Acquisitions	-1,672.1	—	—	—	—	—
Cash Acquired Upon Close of Business Combination
Business Combination
Other Investing Activities	9.6	14.7	23.6	-70.9	31	-109.6
Net Reclamation Fund Withdrawals
Disposition of Reclamation Fund
Change in Non-Cash Working Capital
Cash from Investing Activities	-2,160	-471.2	-429.3	-423.3	-339.7	-643.4
Cash Flow Provided by Investing Activities

Financing Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Issuance of Long-Term Debt	3,864.8	1,814.4	1,248.2	2,188.5	1,863.2	1,596.8
Draw of Long-Term Debt Under Credit Facilities
Issuance of Senior Notes
Issuance of Term Loan
Repayments of Long-Term Debt	-3,069.3	-891.5	-1,563.2	-2,241.7	-1,803	-1,361.8
Repayment of Long-Term Debt
Net Issuance / (Repayments) of Long-Term Debt	795.5	922.9	-315	-53.2	60.2	235
Issuance of Common Shares	0.1	5.5	4.4	1.5	0.4	8.4
Proceeds from Exercise of Share Options
Share Issuance Costs
Repurchases of Common Shares	-169.7	-76.6	-130.8	-52.2	-118.8	-16.3
Repurchase of Shares
Net Issuance / (Repurchases) of Common Shares	-169.6	-71.1	-126.4	-50.7	-118.4	-7.9
Common Share Dividends Paid	-110.9	-111.3	-112.2	-100.8	-101.6	-101.6
Cash Dividends Paid
Other Financing Activities	-15.1	-20.5	-28.2	-22.9	-22.1	-23
Repayment of Principal Relating to Lease Obligations
Change in Non-Cash Working Capital
Cash from Financing Activities	499.9	720	-581.8	-227.6	-181.9	102.5
Cash Flow from Financing Activities

Free Cash Flow	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Free Cash Flow	216.6	210.1	560.4	300.6	68.3	10.5
NOPAT	270.5	302.4	446.3	343.7	193.7	145.9
Levered Free Cash Flow	447.5	847	142.4	-152.7	-135	-17.8
Unlevered Free Cash Flow	-291.9	-169.6	499	-126.1	-330.4	-346.4
Net Change in Cash	-946.8	947.9	1.9	—	-3.2	2.1