INCAR FINANCIAL SERVICE 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	72,300	62,026	29,509	20,788	16,396
Depreciation & Amortization	16,323	13,407	12,330	11,009	8,725
Loss (Gain) From Sale of Assets	74.55	106.17	124.83	53.44	62.3
Asset Writedown & Restructuring Costs	549.05	-	-	-	-
Loss (Gain) From Sale of Investments	-3,808	-1,557	-519.74	778.89	-
Stock-Based Compensation	877.83	-	-	-	-
Provision & Write-off of Bad Debts	1,754	1,185	1,621	27.13	638.3
Other Operating Activities	14,740	17,852	11,807	5,997	4,592
Change in Income Taxes	-	-67.51	-175.52	8.42	-30.5
Change in Other Net Operating Assets	-46,637	-18,080	-46,000	-39,547	-30,932
Operating Cash Flow	56,175	74,872	8,697	-884.91	-549.5
Operating Cash Flow Growth	-24.97%	760.94%	-	-	-
Capital Expenditures	-977.54	-1,169	-459.07	-833.27	-1,284
Sale of Property, Plant & Equipment	-	-	16.73	56.83	-
Cash Acquisitions	-	-3,602	-	-	-
Divestitures	549.25	1.91	19.21	-	-
Sale (Purchase) of Intangibles	-1,312	-577.68	-1,617	-481.27	-310.52
Investment in Securities	-4,370	-27,654	-26,030	-243.09	15,803
Other Investing Activities	-2,985	-737.01	-2,598	-1,546	-2,084
Investing Cash Flow	-8,734	-31,878	-28,671	-2,949	8,939
Short-Term Debt Issued	-	-	-	15,000	1,000
Long-Term Debt Issued	10,550	-	49,318	-	-
Total Debt Issued	10,550	-	49,318	15,000	1,000
Short-Term Debt Repaid	-19,335	-6,537	-14,800	-13,250	-500
Long-Term Debt Repaid	-13,187	-11,413	-11,186	-9,899	-7,615
Total Debt Repaid	-32,521	-17,949	-25,986	-23,149	-8,115
Net Debt Issued (Repaid)	-21,971	-17,949	23,332	-8,149	-7,115
Issuance of Common Stock	-	-	-	11,144	-
Repurchase of Common Stock	-58.45	-6,920	-3,090	-	-
Dividends Paid	-4,866	-3,522	-3,083	-	-
Other Financing Activities	-306.38	-	-	-0	-
Financing Cash Flow	-27,202	-28,391	17,159	2,995	-7,115
Miscellaneous Cash Flow Adjustments	-	-	-	-0	-0
Net Cash Flow	20,238	14,604	-2,815	-839.43	1,275
Free Cash Flow	55,197	73,704	8,238	-1,718	-1,834
Free Cash Flow Growth	-25.11%	794.73%	-	-	-
Free Cash Flow Margin	5.40%	8.86%	1.48%	-0.43%	-0.58%
Free Cash Flow Per Share	1129.90	1497.21	160.62	-33.92	-40.80
Cash Interest Paid	4,038	8,837	7,671	616.32	451.28
Cash Income Tax Paid	9,341	1,226	4.3	-	582.27
Levered Free Cash Flow	109,375	89,120	10,381	-1,535	-3,722
Unlevered Free Cash Flow	112,038	94,801	15,923	-742.34	-3,188
Change in Working Capital	-46,637	-18,147	-46,175	-39,538	-30,963

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.