Karsten Balance Sheet

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
Cash & Equivalents	14.34	10.65	6.16	5.72	6.29
Short-Term Investments	51.99	56.64	49.11	14.03	5.78
Cash & Short-Term Investments	66.32	67.29	55.26	19.75	12.07
Cash Growth	-1.44%	21.76%	179.80%	63.62%	-73.40%
Accounts Receivable	204.68	198.36	193.44	177.15	155.52
Other Receivables	17.58	20.69	23.07	13.55	48.48
Receivables	222.26	219.05	216.51	190.7	204
Inventory	203.6	177.91	179.1	198.75	230.77
Total Current Assets	492.18	464.25	450.87	409.2	446.84
Property, Plant & Equipment	185.02	180.52	175.63	176.28	167.84
Other Intangible Assets	12.42	11.27	11.28	11.64	11.35
Other Long-Term Assets	47.33	50.49	7.69	5.2	4.55
Total Assets	736.95	706.53	645.47	602.33	630.58
Accounts Payable	97.44	105.89	95.29	65.71	69.05
Accrued Expenses	63.63	66.63	53.55	36.8	40.93
Current Portion of Long-Term Debt	29.84	35.06	49.48	99.65	61.45
Current Portion of Leases	4.02	6.15	14.18	19.28	24.74
Current Income Taxes Payable	4.45	3.83	7.58	7.1	5.28
Other Current Liabilities	49.06	49.31	43.98	31.98	58.08
Total Current Liabilities	248.44	266.88	264.06	260.53	259.52
Long-Term Debt	379.04	400.32	441.13	445.22	474.93
Long-Term Leases	5.76	2.16	4.92	3.87	5.07
Long-Term Deferred Tax Liabilities	12.25	12.25	12.25	12.25	12.25
Other Long-Term Liabilities	15.46	19.46	36.06	35.56	12.76
Total Liabilities	660.94	701.06	758.41	757.43	764.53
Common Stock	100.02	100.02	100.02	100.02	100.02
Retained Earnings	-47.79	-118.33	-236.73	-278.89	-257.75
Comprehensive Income & Other	23.77	23.77	23.77	23.77	23.77
Shareholders' Equity	76.01	5.47	-112.94	-155.1	-133.95
Total Liabilities & Equity	736.95	706.53	645.47	602.33	630.58
Total Debt	418.66	443.69	509.7	568.03	566.19
Net Cash (Debt)	-352.34	-376.41	-454.44	-548.27	-554.12
Net Cash Per Share	-56.78	-60.66	-73.24	-88.36	-89.30
Filing Date Shares Outstanding	6.21	6.21	6.21	6.21	6.21
Total Common Shares Outstanding	6.21	6.21	6.21	6.21	6.21
Working Capital	243.75	197.37	186.81	148.67	187.32
Book Value Per Share	12.25	0.88	-18.20	-24.99	-21.59
Tangible Book Value	63.59	-5.8	-124.22	-166.74	-145.3
Tangible Book Value Per Share	10.25	-0.93	-20.02	-26.87	-23.42

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