BVMF:CXSE3 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	4,387	3,765	3,582	3,009	1,896	1,769	Upgrade
Depreciation & Amortization	0.6	0.02	0	0.01	0.03	0.02	Upgrade
Loss (Gain) on Equity Investments	-2,655	-2,683	-2,669	-2,041	-1,328	-1,271	Upgrade
Other Operating Activities	1,845	2,418	1,914	1,346	1,017	2,530	Upgrade
Change in Accounts Receivable	-3.67	-0.82	-46.81	59.37	-27.96	-10.51	Upgrade
Change in Accounts Payable	-8.95	28.22	-1.42	34.39	25.48	-98.27	Upgrade
Change in Income Taxes	6.88	24.98	18.27	-7.54	19.2	42.02	Upgrade
Change in Other Net Operating Assets	-2.87	47.07	30.83	15.93	-16.91	0.01	Upgrade
Operating Cash Flow	3,578	3,600	2,827	2,416	1,585	2,962	Upgrade
Operating Cash Flow Growth	11.29%	27.31%	17.02%	52.42%	-46.48%	147.47%	Upgrade
Investment in Securities	-49.85	-358.69	202.65	-425.36	411.48	-773.38	Upgrade
Other Investing Activities	-	-	-	-45	-161.25	-845.97	Upgrade
Investing Cash Flow	-49.85	-358.69	202.65	-470.36	250.23	-1,619	Upgrade
Common Dividends Paid	-3,527	-3,241	-3,030	-1,946	-1,835	-1,844	Upgrade
Financing Cash Flow	-3,528	-3,241	-3,030	-1,946	-1,835	-1,844	Upgrade
Net Cash Flow	-0.3	0.01	-0.29	0.25	0.43	-501.68	Upgrade
Levered Free Cash Flow	2,799	2,143	3,138	2,508	563.47	1,610	Upgrade
Unlevered Free Cash Flow	2,800	2,144	3,138	2,508	563.47	1,610	Upgrade
Change in Working Capital	0.37	99.58	0.88	102.15	-0.19	-66.75	Upgrade

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