BVMF:TELB3 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	56.17	-66.57	-127.36	-168.46	-126.82	-106.23
Depreciation & Amortization	264.15	262.23	253.54	242.09	254.34	214.81
Other Amortization	14.71	7.81	-	-	-	-
Asset Writedown & Restructuring Costs	-1.37	2.67	0.38	16.64	-	-
Loss (Gain) on Equity Investments	0.63	1.01	2.25	6.5	6.27	3.62
Provision & Write-off of Bad Debts	2.32	2.75	1.31	-1.04	-0.52	-1.05
Other Operating Activities	-50.62	-74.28	70.08	98.25	75.5	38.37
Change in Accounts Receivable	-273.86	-59.17	-72.33	-18.39	8.75	-1.04
Change in Accounts Payable	57.66	1.3	-32.38	-38.49	-20.12	9.05
Change in Income Taxes	-13.15	-0.05	-12.09	-28.28	-15.08	-12.41
Change in Other Net Operating Assets	-11.63	43.94	43.8	-22.31	-30.44	-18.12
Operating Cash Flow	45.01	121.64	127.22	86.51	151.88	127.01
Operating Cash Flow Growth	-75.83%	-4.39%	47.05%	-43.04%	19.59%	-
Capital Expenditures	-27.07	-41.77	-77.84	-53.27	-40.01	-38.03
Investment in Securities	39.97	-	-	-	-	-822.35
Investing Cash Flow	12.9	-41.77	-77.84	-53.27	-40.01	-860.38
Long-Term Debt Repaid	-	-50.94	-51.22	-55.23	-54.84	-34.97
Net Debt Issued (Repaid)	-63.17	-50.94	-51.22	-55.23	-54.84	-34.97
Issuance of Common Stock	2.46	14.49	44.41	30.86	-	-
Other Financing Activities	58.2	1.26	-14.47	70.9	71.92	60.09
Financing Cash Flow	-2.51	-35.19	-21.29	46.53	17.08	25.12
Net Cash Flow	55.4	44.68	28.1	79.77	128.96	-708.25
Free Cash Flow	17.94	79.86	49.39	33.24	111.88	88.98
Free Cash Flow Growth	-85.81%	61.71%	48.56%	-70.28%	25.74%	-
Free Cash Flow Margin	3.88%	19.28%	11.85%	9.56%	39.17%	33.35%
Free Cash Flow Per Share	0.20	0.93	0.57	0.39	1.65	1.31
Cash Interest Paid	1.37	3.27	4.49	5.82	7.11	8.19
Cash Income Tax Paid	7.89	-	6.02	-	-	-
Levered Free Cash Flow	-117.42	21.05	-96.13	36.46	129.52	-708.31
Unlevered Free Cash Flow	37.65	150.49	40.54	168.31	192.33	-652.52
Change in Working Capital	-240.99	-13.98	-73	-107.47	-56.89	-22.51

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