BVMF:SCAR3 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	-61.15	-32.74	305.21	-80.24	30.44	87.33
Depreciation & Amortization	57.92	54.77	50.73	61.32	50.43	47.65
Gain (Loss) on Sale of Assets	-60.75	-60.75	-547.75	18.75	-	-
Gain (Loss) on Sale of Investments	18.61	-	-	-	-8.24	-69.16
Asset Writedown	23.51	23.51	12.78	7.96	-	-
Stock-Based Compensation	1.34	1.44	3.82	2.73	3.02	4.05
Income (Loss) on Equity Investments	-	-	-	-	-	-0.04
Change in Accounts Receivable	23.36	7.69	18.62	-83.38	-3.59	-4.17
Change in Accounts Payable	-	-	-	-6.1	3.31	-
Change in Other Net Operating Assets	-122.98	-163.1	-131.7	-202.52	-60.9	-114.49
Other Operating Activities	115.89	128.05	283.12	225.1	122.22	132.97
Operating Cash Flow	-36.25	-108.85	-7.84	-44.38	119.38	69.78
Operating Cash Flow Growth	-	-	-	-	71.09%	291.26%
Acquisition of Real Estate Assets	-63.88	-44.63	-72.37	-118.7	-773.17	-38.56
Sale of Real Estate Assets	-120.39	-	-	-	-	-
Net Sale / Acq. of Real Estate Assets	-184.26	-44.63	-72.37	-118.7	-773.17	-38.56
Cash Acquisition	2	2	-	1.3	-	-
Investment in Marketable & Equity Securities	499.62	488.22	527.93	10.72	-45.34	295.68
Other Investing Activities	-	-	-	-	-5	0.15
Investing Cash Flow	317.36	445.59	455.57	-106.68	-824.09	257.27
Long-Term Debt Issued	-	-	10.41	718.13	541.17	358.5
Long-Term Debt Repaid	-	-319.97	-344.75	-569.54	-192.94	-330.34
Net Debt Issued (Repaid)	-231.1	-319.97	-334.35	148.59	348.23	28.16
Issuance of Common Stock	-	-	-	8.49	8.49	10.8
Repurchase of Common Stock	-4.73	-2.52	-	-1.46	-22.43	-5.55
Common Dividends Paid	-99.5	-99.38	-	-8.18	-20.74	-3.56
Other Financing Activities	224.33	-34.26	-5.14	-	-	-
Net Cash Flow	170.11	-119.38	108.23	-3.63	-391.16	356.89
Cash Interest Paid	128.42	138.88	199.81	208.35	-	-
Cash Income Tax Paid	24.19	38.17	46.01	20.85	25.71	20.63
Levered Free Cash Flow	260.29	92.32	153.19	-109.19	-11.59	274.16
Unlevered Free Cash Flow	345.41	184.06	290.11	35.51	50.33	329.05
Change in Working Capital	-127.55	-219.84	-132.54	-274.57	-83.04	-132.67

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