BVMF:CGAS3 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	1,617	1,792	1,409	1,811	2,119	1,151	Upgrade
Depreciation & Amortization	696.57	653.44	575.79	498.49	436.09	379.26	Upgrade
Loss (Gain) on Sale of Assets	41.12	58.97	30.19	45.19	21.08	3.18	Upgrade
Stock-Based Compensation	0.07	-	5	2.34	3.63	4.31	Upgrade
Change in Accounts Receivable	460.67	-51.47	344.1	-197.78	-376.13	-5.9	Upgrade
Change in Inventory	11.02	-18.07	-32.29	-3.11	-7.29	-34.53	Upgrade
Change in Accounts Payable	-457.15	-141.9	-186.43	-175.84	468.38	-33.37	Upgrade
Change in Other Net Operating Assets	-765.04	-742.01	-396.84	8.18	-438.53	-627.66	Upgrade
Other Operating Activities	1,808	1,313	1,673	1,438	283.91	1,235	Upgrade
Operating Cash Flow	3,450	2,882	3,432	3,439	2,508	2,097	Upgrade
Operating Cash Flow Growth	28.46%	-16.03%	-0.23%	37.11%	19.65%	-16.55%	Upgrade
Sale of Property, Plant & Equipment	1.76	1.5	4.64	8.32	6.81	-	Upgrade
Sale (Purchase) of Intangibles	-1,479	-1,503	-1,500	-1,188	-1,027	-991.72	Upgrade
Investment in Securities	209.8	-127.75	-159.28	532.48	-4.91	-776.58	Upgrade
Investing Cash Flow	-1,268	-1,629	-1,654	-646.72	-1,025	-1,768	Upgrade
Long-Term Debt Issued	-	3,703	1,338	2,474	1,558	2,268	Upgrade
Long-Term Debt Repaid	-	-1,171	-1,552	-2,282	-1,770	-808.68	Upgrade
Net Debt Issued (Repaid)	-1,435	2,531	-213.86	192	-212.47	1,459	Upgrade
Common Dividends Paid	-544.14	-2,735	-430.12	-1,873	-1,650	-1,136	Upgrade
Other Financing Activities	-826.39	-705.53	-529.47	-762.43	-340.15	-124.39	Upgrade
Financing Cash Flow	-2,805	-909.54	-1,173	-2,443	-2,202	198.89	Upgrade
Net Cash Flow	-622.53	343.28	603.88	349.61	-718.9	527.14	Upgrade
Free Cash Flow	3,450	2,882	3,432	3,439	2,508	2,097	Upgrade
Free Cash Flow Growth	28.46%	-16.03%	-0.23%	37.11%	19.65%	-16.55%	Upgrade
Free Cash Flow Margin	26.73%	18.66%	22.64%	20.23%	21.42%	25.21%	Upgrade
Free Cash Flow Per Share	25.62	21.74	25.88	25.92	18.89	15.78	Upgrade
Cash Interest Paid	78.11	377.6	341.22	472.42	419.72	281.41	Upgrade
Levered Free Cash Flow	407.98	18.99	1,572	86.67	286.44	155.41	Upgrade
Unlevered Free Cash Flow	1,025	500.36	1,936	629.41	781.71	377.04	Upgrade
Change in Working Capital	-750.5	-953.46	-271.46	-368.54	-353.57	-701.46	Upgrade

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.