Lion Electric Co Cashflow Statement

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated Statements of Cash Flows

In millions of USD, except per-share amounts

	FY2023 12 months to Dec 31, 2023	FY2022 12 months to Dec 31, 2022	FY2021 12 months to Dec 31, 2021
OPERATING ACTIVITIES
Net earnings (loss)
Non-cash items:
Depreciation
Depreciation expense
Amortization
Amortization – contract asset
Depreciation and amortization
Write-down of inventory
Impairment of intangible assets and property, plant and equipment
Share-based compensation
Accretion expense on common shares, retractable
Accretion expense
Accretion and revaluation expense on balance of purchase price payable related to the acquisition of the dealership rights
Accretion expense other
Accretion expense on convertible debt instruments
Non-cash issuance of closing fee shares through 2023 Debentures Financing
Change in fair value of conversion options on convertible debt instruments and interest paid in kind
Change in fair value of share warrant obligations
Unrealized foreign exchange loss (gain)
Finance costs attributable to 2023 Debenture financing
Net change in non-cash working capital items
Cash flows used in operating activities
INVESTING ACTIVITIES
Acquisition of property, plant and equipment
Addition to intangible assets
Disposition of property, plant and equipment
Government assistance related to property, plant and equipment and intangible assets
Contact asset, other costs
Net proceeds from Mirabel battery building sale-leaseback
Cash flows used in investing activities
FINANCING ACTIVITIES
Net change in credit facilities
Loans on research and development tax credits receivable and subsidies receivable
Repayment of loans on research and development tax credits and subsidies receivable
Increase in long-term debt and other debts
Repayment of long-term debt and other debts
Repayment of convertible debt instruments
Payment of lease liabilities
Proceeds from issuance of convertible debt instruments, net of issuance costs
Proceeds from issuance of shares through "at-the-market" equity program, net of issuance costs
Proceeds from the issuance of warrants through the December 2022 Offering
Proceeds from the issuance of units through the December 2022 Offering - Common Shares, net of issuance costs
Share redemption
Proceeds from the 2023 Debentures Financing
Proceeds from the issuance of shares through exercise of stock options and warrants
Proceeds from issuance of shares through business combination transaction
Cash flows from financing activities
Effect of exchange rate changes on cash held in foreign currency
Net decrease in cash
Cash, beginning of year
Cash, end of year
Other information on cash flows related to operating activities:
Income taxes paid
Interest paid
Interest paid on obligations under lease liabilities

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