Uniao Pet Participacoes 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	109.34	116.79	58.74	80.89	60
Depreciation & Amortization	254.52	215.61	192.26	155.37	117.25
Other Amortization	-	10.31	7.7	-	-
Loss (Gain) From Sale of Assets	5.03	6.37	6.11	0.79	-3.27
Stock-Based Compensation	1.35	3.26	6.15	17.49	-
Other Operating Activities	135.77	-42.81	78.74	72.8	42.16
Change in Accounts Receivable	-21.98	2.74	-6.36	-63.31	-56.36
Change in Inventory	-44.03	-13.94	-50.62	-69.01	-64.71
Change in Accounts Payable	58.57	7.22	12.23	50.71	97.05
Change in Income Taxes	64.49	64.76	12.73	10.06	-1.12
Change in Other Net Operating Assets	-30.4	7.01	-7.56	-13.43	-7.32
Operating Cash Flow	532.66	377.32	310.13	242.36	183.67
Operating Cash Flow Growth	41.17%	21.66%	27.96%	31.95%	3.53%
Capital Expenditures	-90.49	-113.18	-161.3	-178.35	-164.5
Cash Acquisitions	-	-	6.48	-0.2	-0.55
Sale (Purchase) of Intangibles	-19.43	-19.66	-22.71	-22.35	-10.6
Investment in Securities	58.13	64.18	-77.93	29.7	9.04
Investing Cash Flow	-51.79	-68.66	-255.46	-171.2	-166.6
Long-Term Debt Repaid	-103.99	-113.97	-99.83	-80.5	-110.45
Net Debt Issued (Repaid)	-103.99	-113.97	-99.83	-80.5	-110.45
Issuance of Common Stock	-	-	115.35	111.95	103.81
Repurchase of Common Stock	-	-15.45	-	-	-
Common Dividends Paid	-1.11	-0.56	-0.79	-1.1	-
Other Financing Activities	-107.59	-93.63	-83.45	-60.8	-
Financing Cash Flow	-212.68	-223.6	-68.72	-30.45	-6.64
Net Cash Flow	268.18	85.06	-14.04	40.71	10.44
Free Cash Flow	442.17	264.14	148.84	64.01	19.18
Free Cash Flow Growth	67.40%	77.46%	132.54%	233.75%	-84.93%
Free Cash Flow Margin	14.67%	9.65%	5.76%	2.99%	1.13%
Free Cash Flow Per Share	1.05	0.64	0.35	0.15	0.05
Cash Interest Paid	-	93.63	83.45	60.8	-
Cash Income Tax Paid	-	57.56	48.67	19.56	43.24
Levered Free Cash Flow	307.1	111.74	169.8	5.81	-186.89
Unlevered Free Cash Flow	378.33	171.74	224.45	46.21	-158.39
Change in Working Capital	26.65	67.79	-39.57	-84.98	-32.46

Source: S&P Global Market Intelligence. Standard template. Financial Sources.