LS SECURITIES Cash Flow Statement

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

Millions KRW. 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	26,968	16,620	28,661	29,709	160,830	126,030
Depreciation & Amortization, Total	17,598	16,512	14,870	13,171	11,765	7,608
Gain (Loss) On Sale of Investments	-80,725	-33,070	-36,449	-5,013	-19,764	-4,580
Change in Accounts Receivable	177,033	239,233	-558,274	733,148	832,878	-1,829,369
Change in Other Net Operating Assets	-576,706	-221,745	133,567	-1,049,447	-1,178,828	2,171,413
Other Operating Activities	-188,009	-200,103	-187,668	-141,181	-70,420	-62,663
Operating Cash Flow	173,782	-743,667	-1,535,827	-44,211	-171,229	-65,767
Capital Expenditures	-6,382	-8,333	-3,206	-3,271	-16,199	-2,305
Sale (Purchase) of Intangibles	-6,794	-5,496	-5,592	-8,313	-3,697	-11,507
Investment in Securities	-41,997	-10,844	-5,095	-468.86	-7,722	-5,909
Other Investing Activities	-121	-41	99.89	-	2,018	-260
Investing Cash Flow	-55,293	-24,668	-13,731	-11,985	-25,426	-19,741
Short-Term Debt Issued	-	-	100,000	-	-	-
Long-Term Debt Issued	-	1,006,808	1,615,310	212,784	268,820	206,049
Total Debt Issued	194,697	1,006,808	1,715,310	212,784	268,820	206,049
Short-Term Debt Repaid	-	-100,000	-	-	-	-
Long-Term Debt Repaid	-	-23,026	-95,853	-98,895	-140,469	-155,194
Total Debt Repaid	-325,692	-123,026	-95,853	-98,895	-140,469	-155,194
Net Debt Issued (Repaid)	-130,994	883,781	1,619,457	113,889	128,351	50,855
Issuance of Common Stock	-	-	-	-	59,016	118,038
Repurchase of Common Stock	-	-63,774	-	-	-	-
Dividends Paid	-14,718	-15,649	-10,617	-37,472	-32,143	-17,390
Other Financing Activities	51,170	-3,024	-5,800	-4,475	-4,589	-3,772
Financing Cash Flow	-94,543	801,334	1,603,039	71,942	150,634	147,730
Foreign Exchange Rate Adjustments	2,169	1,995	-23.73	-777.44	1,128	-784.95
Net Cash Flow	26,116	34,995	53,458	14,970	-44,893	61,437
Free Cash Flow	167,401	-752,000	-1,539,033	-47,482	-187,428	-68,072
Free Cash Flow Margin	10.86%	-53.11%	-134.52%	-3.83%	-12.62%	-3.50%
Free Cash Flow Per Share	2737.25	-12001.85	-22726.96	-941.99	-2798.47	-1124.04
Cash Interest Paid	191,412	206,709	163,346	65,633	33,276	33,005
Cash Income Tax Paid	6,564	9,381	10,745	60,334	66,016	24,460

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