Marisa Lojas Cash Flow Statement

Financials in millions BRL. Fiscal year is January - December.

Millions BRL. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-59.98	-315.78	-520.75	-519.38	-93.04
Depreciation & Amortization	135.87	146.94	185.46	230.38	236.82
Other Amortization	33.63	19.38	20.92	36.14	37.59
Loss (Gain) From Sale of Assets	-	-	-15.9	17.12	-
Asset Writedown & Restructuring Costs	-15.01	0.33	20.17	30.37	13.51
Stock-Based Compensation	1.42	-17.22	4.04	2.56	2.43
Provision & Write-off of Bad Debts	-	73.71	16.24	41.63	-19.5
Other Operating Activities	-44.89	95.74	321.9	141.77	-88.2
Change in Accounts Receivable	-28.8	317.69	193.06	138.1	-134.74
Change in Inventory	-5.67	-130.75	222.36	-13.76	-86.11
Change in Accounts Payable	-42.71	-196.26	30.68	363.74	4.47
Change in Unearned Revenue	-22.02	47.66	12.44	-9.23	1.71
Change in Income Taxes	6.57	136	25.29	95.31	91.1
Change in Other Net Operating Assets	31.46	-201.84	-9.9	-58.77	38.43
Operating Cash Flow	-10.13	-80.73	337.61	495.97	4.46
Operating Cash Flow Growth	-	-	-31.93%	11027.89%	-95.84%
Capital Expenditures	-2.65	-7.43	-5.78	-16.69	-20.86
Sale (Purchase) of Intangibles	-14.39	-1.17	-3.49	-58.77	-60.91
Investment in Securities	-10.42	5.8	119.89	-50.36	-42.12
Investing Cash Flow	-27.45	-2.8	110.62	-125.81	-123.89
Long-Term Debt Issued	274.86	540	168.14	405.8	556.86
Long-Term Debt Repaid	-280.57	-1,127	-615.63	-724.15	-772.61
Net Debt Issued (Repaid)	-5.71	-587.17	-447.5	-318.35	-215.75
Issuance of Common Stock	0.09	617.15	-	179.8	70.23
Repurchase of Common Stock	-0.85	-	-0.07	-0.06	-
Other Financing Activities	-	-	-46.39	-252.29	-
Financing Cash Flow	-6.48	29.98	-493.95	-390.9	-145.52
Miscellaneous Cash Flow Adjustments	-	-	-	-241.23	-
Net Cash Flow	-44.06	-53.55	-45.73	-261.97	-264.96
Free Cash Flow	-12.78	-88.15	331.83	479.28	-16.41
Free Cash Flow Growth	-	-	-30.76%	-	-
Free Cash Flow Margin	-0.86%	-6.33%	20.16%	19.78%	-0.65%
Free Cash Flow Per Share	-0.03	-0.17	4.84	7.25	-0.31
Cash Interest Paid	20.52	166.15	70.63	72	64.72
Cash Income Tax Paid	-	-	-	6.29	34.28
Levered Free Cash Flow	87.69	-247.79	670.57	538.38	5.43
Unlevered Free Cash Flow	235.59	-160.71	754.85	631.09	73.32
Change in Working Capital	-61.17	-27.51	473.93	515.39	-85.16

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