Icon Energy Limited Annual Report 2022

Consolidated Statement of Cash Flows for the year ended 30 June 2022 ICON ENERGY LIMITED AND ITS CONTROLLED ENTITIES FOR THE YEAR ENDED 30 JUNE 2022 NOTES 30 June 2022 30 June 2021 $ $ Inflows Inflows (Outflows) (Outflows) CASH FLOWS FROM OPERATING ACTIVITIES Cash receipts from customers 21,078 92,565 Cash payments to suppliers and employees (837,512) (3,880,686) Interest received 1,836 13,121 Government grant received - COVID-19 - 50,000 Tenement expenditure (301,366) (159,555) Interest expense (5,877) (7,823) Net cash used in operating activities 13 (1,121,841) (3,892,378) CASH FLOWS FROM INVESTMENT ACTIVITIES Payments for property, plant & equipment (5,091) (2,600) Net cash used in investment activities (5,091) (2,600) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from issue of share capital 1,572,141 - Capital raising costs (98,867) - Payments of lease liabilities 8 (82,579) (64,457) Net cash (used in)/from financing activities 1,390,695 (64,457) Net increase/(decrease) in cash and cash equivalents held 263,763 (3,959,435) Cash and cash equivalents at beginning of the financial year 1,581,687 5,541,122 Cash and cash equivalents at the end of the financial year 5 1,845,450 1,581,687 The accompanying notes form part of these financial statements. CONSOLIDATED STATEMENT OF CASH FLOWS 40 Icon Energy Annual Report 2022

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