BVMF:EVEN3 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	237.69	42.11	216	104.38	231.21
Depreciation & Amortization	4.13	4.13	5.26	9.12	8.35
Loss (Gain) From Sale of Investments	-	116.07	-	-	-
Loss (Gain) on Equity Investments	-24.21	-3.61	-6.25	3.21	-0.24
Other Operating Activities	-36.6	696.85	616.31	-13.4	-38.01
Change in Accounts Receivable	-263.6	-76.11	-437.61	-32.48	-280.66
Change in Inventory	572.32	10.99	3.4	-807.47	-791.11
Change in Accounts Payable	-5.62	-17.65	-2.6	51.42	19.39
Change in Unearned Revenue	-57.63	79.42	-171.62	180.37	276.06
Change in Other Net Operating Assets	-337.64	-1,034	-679.64	82.67	533.64
Operating Cash Flow	88.84	-182.03	-456.76	-422.17	-41.37
Capital Expenditures	-	-	-35.5	-4.82	-9.4
Sale of Property, Plant & Equipment	12.62	6.25	-	-	-
Divestitures	-	142.68	-	-	-
Investment in Securities	-180.08	8.31	249.19	40.32	67.84
Other Investing Activities	1.36	23.79	42.28	-	9.78
Investing Cash Flow	-166.1	181.02	255.97	35.5	68.22
Long-Term Debt Issued	805.87	520.75	588.83	840.55	235.82
Long-Term Debt Repaid	-510.08	-400.48	-143.13	-384.19	-378.64
Net Debt Issued (Repaid)	295.79	120.28	445.7	456.36	-142.81
Repurchase of Common Stock	-20.38	-28.42	-	-	-
Common Dividends Paid	-149.99	-229.54	-81	-	-171.78
Other Financing Activities	-55.47	127.54	-148.06	-79.86	-30.01
Financing Cash Flow	69.96	-10.15	216.64	376.49	-344.6
Net Cash Flow	-7.3	-11.16	15.85	-10.18	-317.75
Free Cash Flow	88.84	-182.03	-492.26	-426.99	-50.77
Free Cash Flow Margin	4.63%	-8.44%	-27.50%	-18.42%	-2.23%
Free Cash Flow Per Share	0.45	-0.93	-2.87	-2.02	-0.25
Cash Interest Paid	136.55	121.56	85.38	49.98	18.36
Cash Income Tax Paid	49	38.24	30.8	56.95	49.7
Levered Free Cash Flow	665.07	523.45	-818.1	-364.7	-541.93
Unlevered Free Cash Flow	687.18	546.65	-781.29	-349.53	-518.16
Change in Working Capital	-92.17	-1,038	-1,288	-525.49	-242.68

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