Odontoprev 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
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
Net Income	574.51	539.24	511.39	365.86	380.36	361.13
Depreciation & Amortization	-10.07	18.39	55.82	37.02	63.58	29.96
Other Amortization	72.46	37.77	-	-	-	-
Gain (Loss) on Sale of Assets	2.6	0.88	1.98	6.64	1.12	-0.14
Change in Accounts Receivable	-46.36	-13.38	16.03	104.78	-59.44	-33.67
Change in Accounts Payable	4.62	4.62	1.63	5.3	-2.38	-3
Change in Income Taxes	-244.22	-225.22	-220.54	-177.19	-143.46	-132.22
Change in Insurance Reserves / Liabilities	-	-	-	-	-18.62	23.92
Change in Other Net Operating Assets	-51.26	29.94	-51.92	-39.96	-8.94	31.16
Other Operating Activities	258.51	225.58	173.38	171.1	217.52	171.38
Operating Cash Flow	535.92	604.99	414.56	694.58	858.42	305.27
Operating Cash Flow Growth	41.32%	45.93%	-40.31%	-19.09%	181.20%	-1.14%
Capital Expenditures	-6.18	-10.55	-7.6	-8.4	-5.55	-9.93
Sale of Property, Plant & Equipment	0.17	0.17	-	-	-	-
Purchase / Sale of Intangible Assets	-78.32	-82	-87.66	-62.99	-46.49	-25.33
Cash Acquisitions	-	-	-21.31	-44.82	-	-
Investment in Securities	119.26	95.12	-125.05	-244.32	-400.36	-2.71
Other Investing Activities	6.81	6.33	8.5	5.17	5.53	5.33
Investing Cash Flow	41.74	9.06	-233.11	-355.35	-446.87	-32.63
Issuance of Common Stock	-	-	-	0.05	1.19	5.37
Repurchases of Common Stock	-22.37	-69.15	-	-170.09	-170.01	-
Common Dividends Paid	-471.58	-542.76	-182.89	-100.52	-261.16	-270.22
Other Financing Activities	-77.62	-	-	-69.26	-	-
Financing Cash Flow	-571.02	-611.91	-182.89	-339.82	-429.98	-264.85
Net Cash Flow	6.64	2.14	-1.45	-0.59	-18.43	7.78
Free Cash Flow	529.75	594.44	406.96	686.19	852.87	295.34
Free Cash Flow Growth	43.13%	46.07%	-40.69%	-19.54%	188.78%	-0.82%
Free Cash Flow Margin	20.91%	24.47%	18.00%	35.04%	42.78%	15.69%
Free Cash Flow Per Share	0.97	1.09	0.74	1.24	1.47	0.51
Cash Income Tax Paid	236.83	219.58	213.36	168.54	166.92	150.21
Levered Free Cash Flow	393.08	596.35	251.42	604.01	792.81	203.42
Unlevered Free Cash Flow	418.82	619.13	272.39	607.81	794.49	205.18
Change in Working Capital	-353.52	-216.91	-324.77	72.14	153.48	-299.05

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