Banco BTG Pactual Cash Flow Statement

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

Millions BRL. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2015 - 2019
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2015 - 2019
Net Income	14,681	11,789	9,925	7,842	6,342	3,976	Upgrade
Depreciation & Amortization	1,144	1,128	990.46	833.67	113.47	60.71	Upgrade
Provision for Credit Losses	5,021	2,844	2,410	4,367	826.27	366.16	Upgrade
Change in Other Net Operating Assets	-64,490	-32,481	-50,166	1,450	-76,452	-36,706	Upgrade
Other Operating Activities	898.53	4,428	1,695	1,963	2,464	-375.7	Upgrade
Operating Cash Flow	-43,456	-13,682	-36,188	15,707	-68,239	-32,469	Upgrade
Capital Expenditures	-250.47	-245.45	-138.17	-277.18	-231.07	-90.2	Upgrade
Cash Acquisitions	-	-	-51.64	-1,526	-3,694	-	Upgrade
Investment in Securities	-770.59	-420.76	199.69	905.46	3,515	-96.06	Upgrade
Income (Loss) Equity Investments	-1,378	-1,390	-1,042	-748.44	-1,640	102.53	Upgrade
Purchase / Sale of Intangibles	-832.4	-402.07	-396	-1,296	-4,204	-123.38	Upgrade
Other Investing Activities	761.09	405.44	821.14	1,677	852.78	536.35	Upgrade
Investing Cash Flow	-1,092	-662.84	435.01	-517.53	-3,761	226.71	Upgrade
Long-Term Debt Issued	-	31,824	17,486	10,647	15,748	19,594	Upgrade
Long-Term Debt Repaid	-	-2,401	-	-	-	-1,389	Upgrade
Net Debt Issued (Repaid)	11,969	29,424	17,486	10,647	15,748	18,204	Upgrade
Issuance of Common Stock	-	-	-	-	5,797	2,651	Upgrade
Repurchase of Common Stock	-228.05	-101.53	-301.18	-231.25	-	-92.71	Upgrade
Common Dividends Paid	-4,020	-2,995	-2,845	-2,025	-1,746	-541	Upgrade
Net Increase (Decrease) in Deposit Accounts	15,327	16,617	17,523	6,195	52,590	34,816	Upgrade
Other Financing Activities	219.11	1,422	313.76	-707.98	2,640	93.51	Upgrade
Financing Cash Flow	23,268	44,366	32,177	13,877	75,029	55,130	Upgrade
Foreign Exchange Rate Adjustments	545.62	-373.9	-101.84	55.68	-	-	Upgrade
Net Cash Flow	-20,735	29,647	-3,678	29,122	3,028	22,888	Upgrade
Free Cash Flow	-43,707	-13,928	-36,326	15,429	-68,470	-32,559	Upgrade
Free Cash Flow Margin	-109.02%	-40.10%	-116.72%	57.92%	-406.06%	-339.50%	Upgrade
Free Cash Flow Per Share	-9.21	-2.94	-7.66	3.24	-14.39	-7.26	Upgrade

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