KB STAR REIT Cash Flow Statement

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

Millions KRW. Fiscal year is Feb - Jan.

Fiscal Year	FY 2026	FY 2025	FY 2025	FY 2024	FY 2024
Period Ending	Jan '26 Jan 31, 2026	Jul '25 Jul 31, 2025	Jan '25 Jan 31, 2025	Jul '24 Jul 31, 2024	Jan '24 Jan 31, 2024
Net Income	-42,124	-198,825	37,929	-63,583	102,110
Depreciation & Amortization	15,660	16,241	15,294	15,911	14,749
Gain (Loss) on Sale of Investments	40,723	4,392	-17,872	-2,755	212.7
Asset Writedown	-	175,716	-	88,285	-79,436
Change in Accounts Payable	-	-	-526.2	120.11	-11,303
Change in Other Net Operating Assets	1,747	-2,378	11,215	-9,218	831.78
Other Operating Activities	37,130	35,355	-683.1	647.55	4,487
Operating Cash Flow	43,181	27,550	35,427	27,470	23,573
Operating Cash Flow Growth	56.74%	-22.23%	28.97%	16.53%	122.50%
Acquisition of Real Estate Assets	-	-	-	-89.6	-
Net Sale / Acq. of Real Estate Assets	-	-	-	-89.6	-
Cash Acquisition	-	-	-	-148,739	-
Investment in Marketable & Equity Securities	-28,425	-60,034	-9,391	8,571	-41,000
Other Investing Activities	-0	-133,902	-	-0	-
Investing Cash Flow	-28,425	-193,936	-9,391	-140,257	-41,000
Total Debt Issued	720,000	300,000	-	120,000	50,000
Total Debt Repaid	-695,500	-120,000	-3,861	-	-
Net Debt Issued (Repaid)	24,500	180,000	-3,861	120,000	50,000
Common & Preferred Dividends Paid	-34,481	-36,509	-38,132	-38,132	-38,132
Total Dividends Paid	-34,481	-36,509	-38,132	-38,132	-38,132
Other Financing Activities	-5,244	-2,793	-	-504.48	-165.94
Foreign Exchange Rate Adjustments	14,396	10,095	5,771	5,952	2,866
Net Cash Flow	13,927	-15,593	-10,186	-25,471	-2,858
Cash Interest Paid	21,170	26,875	21,020	16,907	6,614
Cash Income Tax Paid	-13,716	4,763	4,278	1.73	11,972
Levered Free Cash Flow	-1,950	-136,821	69,809	346.01	73,867
Unlevered Free Cash Flow	15,807	-116,558	85,106	13,086	83,706
Change in Working Capital	-8,208	-5,329	758.76	-11,036	-18,550

Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.