Note Year ended Dec 2025 $’000 Year ended Dec 2024 $’000 Cash flows from operating activities Receipts from licence agreement - royalty income 63,403 51,421 Receipts from licence agreement - milestone and other payments 159,098 – Income tax paid (54,147) (37,221) Withholding tax paid (7,195) (2,517) Interest received 12,060 11,297 GST refunded 261 353 Payments for employees and directors (4,348) (4,145) Payments to other suppliers (43,710) (30,458) Net cash from/(used in) operating activities 5 125,422 (11,270) Cash flows from investing activities Purchase of plant and equipment (37) (10) Less cash transferred (to)/from short-term investments(i) (87,970) 4,144 Net cash (used in)/from investing activities (88,007) 4,134 Cash flows from financing activities Proceeds from issue of shares 17 6,389 1,660 Payment of share issue expenses 17 (37) (9) Payments for share buy-back 17 (39,573) (10,426) Net cash used in financing activities (33,221) (8,775) Net increase/(decrease) in cash and cash equivalents 4,194 (15,911) Cash and cash equivalents at the beginning of the financial year 3,153 17,094 Effects of exchange rate changes on cash and cash equivalents (3,120) 1,970 Cash and cash equivalents at the end of the financial year 10 4,227 3,153 (i) F ollowing the receipt of the first commercial sale milestone payment from Acadia, the Company is holding more funds than are required to meet currently forecast short-term cash commitments. As a result, the Company has reclassified cash held in short-term deposits from Cash and Cash Equivalents to Short-term Investments. CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2025 The above consolidated statement of cash flows should be read in conjunction with the accompanying notes Neuren Pharmaceuticals Limited Annual Report 2025 35
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