A3 Mercados Cash Flow Statement

Financials in millions ARS. Fiscal year is July - June.

Millions ARS. Fiscal year is Jul - Jun.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Jun '25 Jun 30, 2025	Jun '24 Jun 30, 2024	Jun '23 Jun 30, 2023	Jun '22 Jun 30, 2022	Jun '21 Jun 30, 2021
Net Income	78,157	21,435	8,147	16,725	2,678	2,314
Depreciation & Amortization	9,753	3,988	3,749	3,243	749.14	352.58
Other Amortization	886	886	982	-	-	-
Loss (Gain) From Sale of Investments	-339	-200	-	-	-	-
Loss (Gain) on Equity Investments	-104	5	-20	-	-	-37.65
Other Operating Activities	-8,073	5,874	21,659	9,289	1,322	-577.3
Change in Accounts Receivable	-6,122	-3,577	-5,013	-4,562	55.77	-14.32
Change in Accounts Payable	8,025	6,295	-16,659	-62,585	16,598	2,306
Change in Income Taxes	-2,064	-3,507	-1,447	316.92	1,643	1,496
Change in Other Net Operating Assets	-946	3,109	995	1,621	-1,753	-935.39
Operating Cash Flow	79,173	34,308	12,393	-35,952	21,293	4,904
Operating Cash Flow Growth	418.79%	176.83%	-	-	334.23%	-
Capital Expenditures	-478	-591	-1,127	-525.48	-277.18	-93.14
Cash Acquisitions	44,143	44,143	-	-3,639	-	-169.77
Divestitures	-	-	25	-	-	-
Sale (Purchase) of Intangibles	-38	-38	-14	-82.53	-94.44	-31.83
Sale (Purchase) of Real Estate	-	-	-	-	-	3.29
Investment in Securities	6,485	30,566	39,137	-201.72	-138.6	-238.6
Other Investing Activities	-	-	-	-	-	2.24
Investing Cash Flow	50,112	74,080	38,021	-4,448	-510.23	-527.81
Long-Term Debt Issued	-	4,684	-	-	-	-
Long-Term Debt Repaid	-	-6,174	-1,573	-74.39	-	-
Net Debt Issued (Repaid)	-1,196	-1,490	-1,573	-74.39	-	-
Issuance of Common Stock	199	199	-	-	-	-
Common Dividends Paid	-60,310	-44,578	-9,666	-6,086	-2,014	-1,232
Other Financing Activities	2,160	-	-1,098	-182.14	-782.54	-1,681
Financing Cash Flow	-59,409	-45,869	-12,337	-6,343	-2,796	-2,913
Miscellaneous Cash Flow Adjustments	-5,956	5,821	-9,531	-3,290	-1,808	369.45
Net Cash Flow	63,920	68,340	28,546	-50,033	16,178	1,833
Free Cash Flow	78,695	33,717	11,266	-36,477	21,015	4,810
Free Cash Flow Growth	447.56%	199.28%	-	-	336.87%	-
Free Cash Flow Margin	44.54%	32.54%	11.87%	-50.93%	146.97%	84.41%
Free Cash Flow Per Share	-	206.85	91.43	-296.23	170.66	39.06
Cash Income Tax Paid	1,722	5,301	4,530	5,262	968.96	733.41
Levered Free Cash Flow	-143,839	31,658	46,606	74,360	35,441	8,036
Unlevered Free Cash Flow	-143,670	31,838	46,863	74,527	35,449	8,038
Change in Working Capital	-1,107	2,320	-22,124	-65,209	16,544	2,852

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.