CSU Digital 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	106.05	91.18	88.42	73.57	60.49
Depreciation & Amortization	36.29	39.98	39.79	35.86	34.45
Other Amortization	25.83	21.73	24.11	25.71	25.5
Asset Writedown & Restructuring Costs	1.31	0.81	0.65	0.97	0.05
Stock-Based Compensation	0.9	0.88	0.61	0.44	0.27
Provision & Write-off of Bad Debts	0.1	-0.95	-2.64	0.53	0.21
Other Operating Activities	-23.42	-23.89	-16.2	-22.73	-25.77
Change in Accounts Receivable	-14.96	-6.46	2.07	-9.24	-8.62
Change in Inventory	0.31	-0.93	1.14	-0.62	-0.46
Change in Accounts Payable	9.86	10.85	-3.41	6.63	-4.58
Change in Other Net Operating Assets	-9.67	42.98	17.64	20.44	34.58
Operating Cash Flow	132.59	176.17	152.19	131.57	116.11
Operating Cash Flow Growth	-24.73%	15.76%	15.67%	13.32%	-7.80%
Capital Expenditures	-8.21	-7	-4.14	-3.29	-3.43
Sale (Purchase) of Intangibles	-73.38	-67.46	-57.86	-52.34	-46.19
Investment in Securities	-	-	-	-	-10.54
Investing Cash Flow	-81.6	-74.47	-62	-55.63	-60.17
Long-Term Debt Issued	85.02	-	-	-	-
Long-Term Debt Repaid	-40.68	-45.9	-43.74	-42.58	-39.61
Net Debt Issued (Repaid)	44.35	-45.9	-43.74	-42.58	-39.61
Common Dividends Paid	-115.92	-34.52	-57.61	-30.2	-16.8
Other Financing Activities	-	-0	-	-	-
Financing Cash Flow	-71.58	-80.42	-101.36	-72.78	-56.41
Foreign Exchange Rate Adjustments	0.06	-0.38	-	-	-
Miscellaneous Cash Flow Adjustments	-	-	-0	-	-
Net Cash Flow	-20.52	20.91	-11.17	3.16	-0.47
Free Cash Flow	124.38	169.16	148.05	128.28	112.68
Free Cash Flow Growth	-26.47%	14.26%	15.41%	13.85%	-3.98%
Free Cash Flow Margin	19.95%	29.80%	27.92%	23.88%	21.92%
Free Cash Flow Per Share	3.02	4.11	3.60	3.14	2.75
Cash Interest Paid	1.81	4.67	9.45	7.88	8.1
Cash Income Tax Paid	27.92	27.26	19.39	25.01	26.1
Levered Free Cash Flow	0.78	88.76	47.26	69.28	59.87
Unlevered Free Cash Flow	5.03	94.24	53.49	75.49	65.18
Change in Working Capital	-14.47	46.44	17.44	17.21	20.92

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