BVMF:CMIG4 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	4,897	7,117	5,764	4,092	3,751
Depreciation & Amortization	1,533	1,376	1,274	1,182	1,049
Other Amortization	28.11	18.75	13.91	7.42	20.46
Loss (Gain) on Sale of Assets	-28.89	-42.99	-	-	-
Loss (Gain) on Sale of Investments	-1,282	-2,823	-1,565	-1,297	-1,418
Loss (Gain) on Equity Investments	-200.93	-223.71	-432.49	-842.54	-182.08
Asset Writedown	210.43	83.44	97.46	73.63	46.96
Change in Accounts Receivable	-418.13	-553.04	-838.95	-440.19	-90.38
Change in Accounts Payable	87.43	-65.13	184.65	148.71	324.86
Change in Income Taxes	-608.05	564.19	784.62	606.42	2,324
Change in Other Net Operating Assets	775.34	508.05	1,523	3,461	659.84
Other Operating Activities	-1,079	-638.1	-336.08	-556.75	-2,802
Operating Cash Flow	4,077	5,497	6,644	6,544	3,683
Operating Cash Flow Growth	-25.84%	-17.27%	1.53%	77.68%	-57.22%
Capital Expenditures	-699.18	-671.29	-1,076	-173.41	-182.52
Sale of Property, Plant & Equipment	92.68	100.89	-	-	-
Cash Acquisitions	-	-	-	-	0.16
Sale (Purchase) of Intangibles	-5,765	-4,687	-3,866	-3,232	-1,849
Investment in Securities	-247.97	3,085	1,755	267.53	3,358
Other Investing Activities	-43.59	-204.59	-780.35	-	44.48
Investing Cash Flow	-6,663	-2,377	-3,967	-3,137	1,371
Long-Term Debt Issued	9,337	4,582	1,988	1,981	13.41
Long-Term Debt Repaid	-2,779	-3,047	-2,745	-2,679	-4,507
Net Debt Issued (Repaid)	6,558	1,535	-757.19	-697.63	-4,493
Common Dividends Paid	-3,968	-4,294	-1,823	-2,094	-1,416
Financing Cash Flow	2,590	-2,759	-2,580	-2,792	-5,910
Net Cash Flow	3.41	360.74	96.82	615.45	-855.19
Free Cash Flow	3,377	4,826	5,568	6,371	3,501
Free Cash Flow Growth	-30.01%	-13.34%	-12.60%	81.98%	-58.70%
Free Cash Flow Margin	7.90%	12.12%	15.11%	18.49%	10.41%
Free Cash Flow Per Share	1.18	1.69	1.95	2.23	1.22
Cash Interest Paid	7.25	6.31	1,031	1,014	1,593
Cash Income Tax Paid	735.91	1,136	600.84	704.17	500.41
Levered Free Cash Flow	-3,585	-511.42	1,081	43.83	1,689
Unlevered Free Cash Flow	-2,656	100.09	1,709	1,953	3,604
Change in Working Capital	-163.41	454.08	1,654	3,776	3,218

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