ABU DHABI NATIONAL OIL COMPANY FOR DISTRIBUTION PJSC Interim condensed consolidated statement of cash flow For the three-month period ended 31 March 2024 3 months ended 31 March 2024 31 March 2023 AED’000 AED’000 Cash flows from operating activities Profit for the period before tax 573,997 546,240 Adjustments for: Depreciation of property, plant and equipment 130,481 118,715 Depreciation of right-of-use assets 35,618 29,618 Amortization of intangible assets 11,274 1,884 Impairment losses on receivables 15,443 6,507 Recoveries on receivables (2,827) (2,283) Employees’ end of service benefit charge 8,239 9,185 Inventories written-off 1,086 - (Gain)/loss on disposal of property, plant and equipment (17,055) 786 Finance costs 209,163 101,045 Interest income (47,938) (15,176) Operating cash flows before movements in working capital 917,481 796,521 Increase in inventories (121,753) (54,333) Decrease/(increase) in trade receivables and other current assets 57,132 (145,137) (Increase)/decrease in due from related parties (114,326) 33,967 (Decrease)/increase in trade and other payables (13,534) 15,854 Increase in due to related parties 144,176 616,354 Cash generated from operating activities 869,176 1,263,226 Payment of employees’ end of service benefit (4,366) (6,214) Net cash generated from operating activities 864,810 1,257,012 Cash flows from investing activities Payments for purchases of property, plant and equipment (273,324) (198,249) Payments for advances to contractors (27,615) (12,620) Proceeds from disposal of property, plant and equipment 17,273 1,726 Interest received 47,938 15,176 Payments for acquisition of subsidiary, net of cash acquired - (542,755) Net cash used in investing activities (235,728) (736,722) Cash flows from financing activities Payment of lease liabilities (54,707) (43,054) Proceeds from borrowings - 230 Repayment of borrowings (478) - Dividends paid - (1,285,625) Finance cost paid (78,640) (53,220) Net cash used in financing activities (133,825) (1,381,669) Net increase / (decrease) in cash and cash equivalents 495,257 (861,379) Cash and cash equivalents at the beginning of the period 2,993,937 2,617,099 Effect of foreign exchange rate changes (94,304) (3,428) Cash and cash equivalents at the end of the period 3,394,890 1,752,292 Non-cash transactions Accruals for property, plant and equipment 509,379 388,115 Advances to contractors transferred to property, plant and equipment 8,300 8,641 Additions to right of use assets for land leases 109,113 275,374 9