LS SECURITIES Cash Flow Statement

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

Millions KRW. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	22,950	16,620	28,661	29,709	160,830
Depreciation & Amortization, Total	18,281	16,512	14,870	13,171	11,765
Gain (Loss) On Sale of Investments	-90,284	-33,070	-36,449	-5,013	-19,764
Change in Accounts Receivable	-631,572	239,233	-558,274	733,148	832,878
Change in Other Net Operating Assets	1,412,860	-221,745	133,567	-1,049,447	-1,178,828
Other Operating Activities	-186,057	-200,103	-187,668	-141,181	-70,420
Operating Cash Flow	45,613	-743,667	-1,535,827	-44,211	-171,229
Capital Expenditures	-11,730	-8,333	-3,206	-3,271	-16,199
Sale (Purchase) of Intangibles	-6,779	-5,496	-5,592	-8,313	-3,697
Investment in Securities	-41,527	-10,844	-5,095	-468.86	-7,722
Other Investing Activities	-0.19	-41	99.89	-	2,018
Investing Cash Flow	-60,031	-24,668	-13,731	-11,985	-25,426
Short-Term Debt Issued	-	-	100,000	-	-
Long-Term Debt Issued	490,598	1,006,808	1,615,310	212,784	268,820
Total Debt Issued	490,598	1,006,808	1,715,310	212,784	268,820
Short-Term Debt Repaid	-	-100,000	-	-	-
Long-Term Debt Repaid	-510,494	-23,026	-95,853	-98,895	-140,469
Total Debt Repaid	-510,494	-123,026	-95,853	-98,895	-140,469
Net Debt Issued (Repaid)	-19,896	883,781	1,619,457	113,889	128,351
Issuance of Common Stock	-	-	-	-	59,016
Repurchase of Common Stock	-	-63,774	-	-	-
Dividends Paid	-14,718	-15,649	-10,617	-37,472	-32,143
Other Financing Activities	48,256	-3,024	-5,800	-4,475	-4,589
Financing Cash Flow	13,642	801,334	1,603,039	71,942	150,634
Foreign Exchange Rate Adjustments	858.35	1,995	-23.73	-777.44	1,128
Net Cash Flow	81.82	34,995	53,458	14,970	-44,893
Free Cash Flow	33,883	-752,000	-1,539,033	-47,482	-187,428
Free Cash Flow Margin	1.62%	-53.11%	-134.52%	-3.83%	-12.62%
Free Cash Flow Per Share	546.96	-11990.42	-22726.96	-941.99	-2798.47
Cash Interest Paid	184,736	206,709	163,346	65,633	33,276
Cash Income Tax Paid	7,002	9,381	10,745	60,334	66,016

Source: S&P Global Market Intelligence. Capital Markets template. Financial Sources.