Itaúsa 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	16,487	14,778	13,466	13,674	12,200
Depreciation & Amortization	1,234	1,207	1,129	836	708
Other Amortization	27	24	47	19	14
Loss (Gain) From Sale of Assets	7	-121	-	-	-
Asset Writedown & Restructuring Costs	-204	-520	-769	-598	-129
Loss (Gain) From Sale of Investments	31	129	-1,526	-3,040	-903
Loss (Gain) on Equity Investments	-17,508	-15,369	-12,330	-11,479	-10,397
Provision & Write-off of Bad Debts	20	8	25	27	21
Other Operating Activities	570	670	366	1,450	6
Change in Accounts Receivable	134	-147	259	-12	-216
Change in Inventory	-258	-74	112	-267	-540
Change in Accounts Payable	-156	127	-58	-442	549
Change in Other Net Operating Assets	-218	-99	-423	-302	67
Operating Cash Flow	166	613	298	-134	1,380
Operating Cash Flow Growth	-72.92%	105.70%	-	-	2.53%
Capital Expenditures	-931	-1,355	-1,263	-1,215	-870
Sale of Property, Plant & Equipment	80	50	34	11	34
Cash Acquisitions	-87	-	-	7	-
Investment in Securities	334	-650	3,759	558	-1,541
Other Investing Activities	18,640	8,344	4,098	2,771	2,476
Investing Cash Flow	18,036	6,389	6,628	2,132	99
Long-Term Debt Issued	4,436	2,439	3,703	5,993	3,404
Long-Term Debt Repaid	-5,040	-2,435	-4,824	-3,163	-376
Net Debt Issued (Repaid)	-604	4	-1,121	2,830	3,028
Issuance of Common Stock	483	-	433	-	-
Repurchase of Common Stock	-	-33	-	-311	-179
Common Dividends Paid	-13,418	-3,141	-	-3,851	-3,335
Other Financing Activities	-5,483	-4,983	-4,743	-38	-
Financing Cash Flow	-19,022	-8,153	-5,431	-1,370	-486
Foreign Exchange Rate Adjustments	7	26	10	-32	-4
Net Cash Flow	-813	-1,125	1,505	596	989
Free Cash Flow	-765	-742	-965	-1,349	510
Free Cash Flow Growth	-	-	-	-	-40.00%
Free Cash Flow Margin	-9.27%	-9.01%	-13.07%	-15.90%	6.24%
Free Cash Flow Per Share	-0.07	-0.07	-0.09	-0.12	0.05
Cash Interest Paid	1,155	1,150	1,747	1,140	335
Cash Income Tax Paid	108	115	89	54	345
Levered Free Cash Flow	-1,781	-164.5	-3,120	585.13	1,456
Unlevered Free Cash Flow	-848.5	693.63	-2,139	1,481	1,740
Change in Working Capital	-498	-193	-110	-1,023	-140

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