Syn Prop & Tech Cash Flow Statement

Financials in millions BRL. Fiscal year is January - December.

Millions BRL. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	65.6	64.63	546.26	-10.04	-57	1,287
Depreciation & Amortization	39.36	41.09	79.37	60.82	61.79	68.76
Other Amortization	1.65	1.77	1.46	1.17	4.39	4.54
Gain (Loss) on Sale of Assets	0.17	0.17	-475.44	2.56	-	-
Gain (Loss) on Sale of Investments	-2.66	-15.21	-337.3	-	-	-
Asset Writedown	-3.26	-1.37	-4.34	-0.34	3.06	9.19
Income (Loss) on Equity Investments	-1.38	-0.4	-1.95	2.53	2.82	-6.99
Change in Accounts Receivable	2.58	-19.15	-35.1	0.95	-0.98	9.51
Change in Accounts Payable	3.88	2.9	1.9	-17.29	12.19	9.73
Change in Other Net Operating Assets	-9.78	-1.56	11.88	1.39	-17.65	-131.34
Other Operating Activities	-14.88	-2.01	243.08	61.51	28.65	1,038
Operating Cash Flow	66.47	50.09	91.26	74.19	17.62	2,202
Operating Cash Flow Growth	3.89%	-45.12%	23.01%	321.09%	-99.20%	1729.72%
Acquisition of Real Estate Assets	-0	-3.75	-8.89	-25.38	-73.01	-2.64
Sale of Real Estate Assets	-	-	-	-	-	629.45
Net Sale / Acq. of Real Estate Assets	-0	-3.75	-8.89	-25.38	-73.01	626.81
Investment in Marketable & Equity Securities	193.12	216.15	1,079	64.03	433.89	-1,025
Other Investing Activities	582.51	582.51	503.18	-	-	-
Investing Cash Flow	775.63	794.9	1,574	38.66	359.32	-398.02
Long-Term Debt Issued	-	-	-	-	-	300
Long-Term Debt Repaid	-	-373.75	-165.85	-65.25	-602.03	-240.74
Net Debt Issued (Repaid)	-373.75	-373.75	-165.85	-65.25	-602.03	59.26
Repurchase of Common Stock	-329.97	-330	-560	-	-	-
Common Dividends Paid	-134	-134	-440	-	-80	-1,250
Other Financing Activities	-144.76	-107.14	-396.85	-14.51	-9.53	-322.5
Foreign Exchange Rate Adjustments	-0.8	-0.8	0.97	-0.14	-	-
Net Cash Flow	-141.18	-100.71	103.24	32.95	-314.63	290.95
Cash Interest Paid	105.95	105.95	144.02	171.12	194.82	84.35
Cash Income Tax Paid	-	-	-	11.1	23.47	24.82
Levered Free Cash Flow	884.98	728.07	-321.28	39.37	35.37	948.58
Unlevered Free Cash Flow	949.7	804.05	-225.28	159.05	168.49	1,047
Change in Working Capital	-18.7	-38.99	36.27	-41.39	-29.39	-194.5

Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.