IST:OZSUB Cash Flow Statement

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

Millions TRY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021
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
Net Income	156.65	-113.39	-10.84	52.93	8.4
Depreciation & Amortization	60.01	56.25	46.56	22.72	3.27
Other Amortization	0.4	0.4	0.35	-	0.04
Loss (Gain) From Sale of Assets	-0.07	-1.24	-1.14	-3.56	-
Asset Writedown & Restructuring Costs	107.51	41.85	-5.69	-38.82	10.23
Loss (Gain) on Equity Investments	-2.94	-106.03	-43.29	1.7	-
Provision & Write-off of Bad Debts	0.23	-	-0.03	1.32	0.13
Other Operating Activities	248.51	47.66	6.88	70.74	22.35
Change in Accounts Receivable	437.81	167.09	-229.56	-	-11.56
Change in Inventory	-15.29	9.12	-7.06	-3.22	-2.64
Change in Accounts Payable	-602.73	-681.19	520.4	37.68	112.92
Change in Unearned Revenue	0.12	-0.11	-0.09	-0.85	-
Change in Income Taxes	16.24	-9.73	-0.34	3.18	0.06
Change in Other Net Operating Assets	388.25	284.49	-344.16	5.32	-113.27
Operating Cash Flow	794.69	-304.83	-68.02	149.12	29.91
Operating Cash Flow Growth	-	-	-	398.54%	-
Capital Expenditures	-94.79	-51.71	-81.84	-49.22	-5.27
Sale (Purchase) of Intangibles	-50.37	-50.37	-1.47	-0.25	-0.11
Investment in Securities	34.91	39.25	39.58	-71.98	-
Other Investing Activities	-0.61	-0.61	-	-	-0.09
Investing Cash Flow	-110.85	-63.44	-43.73	-121.46	-5.46
Short-Term Debt Issued	-	-	-	-	11.86
Long-Term Debt Issued	-	540.58	120.52	-	-
Total Debt Issued	1.96	540.58	120.52	-	11.86
Long-Term Debt Repaid	-	-0.36	-0.32	-119.87	-20.17
Net Debt Issued (Repaid)	-0.84	540.22	120.21	-119.87	-8.31
Issuance of Common Stock	-	-	-	266.69	-
Common Dividends Paid	-1.79	-1.79	-	-	-
Other Financing Activities	-304.14	-154.8	-136.78	-57.39	-14.34
Financing Cash Flow	-306.78	383.62	-16.58	89.42	-22.65
Miscellaneous Cash Flow Adjustments	-45.24	-3.93	-23.31	-22.65	-
Net Cash Flow	331.83	11.43	-151.64	94.44	1.8
Free Cash Flow	699.9	-356.54	-149.86	99.9	24.65
Free Cash Flow Growth	-	-	-	305.34%	-
Free Cash Flow Margin	32.00%	-13.85%	-6.85%	6.72%	5.63%
Free Cash Flow Per Share	6.87	-2.97	-1.25	1.11	0.62
Cash Interest Paid	307.03	156.67	104.78	60.8	14.34
Cash Income Tax Paid	-	-	28.88	-0.74	-
Levered Free Cash Flow	141	-315.9	-190.27	-237.62	-
Unlevered Free Cash Flow	333.23	-217.94	-124.74	-199.54	-
Change in Working Capital	224.39	-230.33	-60.82	42.11	-14.5

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