MSM:AMAT Cash Flow Statement

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

Millions OMR. 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	4	0.58	1.43	1.06	0.95
Depreciation & Amortization	0.23	0.1	0.12	0.12	0.12
Gain (Loss) on Sale of Investments	-0.18	-0.17	0.13	0.09	-0.29
Change in Accounts Receivable	-0.81	-1.65	0.12	-2.17	-6.2
Reinsurance Recoverable	-6.7	1.02	-3.78	7.02	-17.55
Change in Accounts Payable	2.34	5.91	2.45	3.39	1.88
Change in Unearned Revenue	-	-	-0.05	0	0
Change in Insurance Reserves / Liabilities	10.71	-1.73	2.26	-7.34	18.22
Change in Other Net Operating Assets	-	-	0.04	-0.7	0.56
Other Operating Activities	-3.53	-1.29	-1.98	-6.8	-3.99
Operating Cash Flow	6.35	3.31	-2.5	0.33	-2.1
Operating Cash Flow Growth	91.53%	-	-	-	-
Capital Expenditures	-0.31	-0.01	-0.08	-0.05	-0.07
Investment in Securities	-1.71	-6.82	6.74	-0.58	2.44
Other Investing Activities	1.61	1.86	1.7	1.01	1.49
Investing Cash Flow	-0.41	-4.97	8.36	0.38	3.86
Common Dividends Paid	-1.23	-1.23	-1.23	-1.31	-1.75
Other Financing Activities	-0.16	-	-	-	-
Financing Cash Flow	-1.38	-1.23	-1.23	-1.31	-1.75
Net Cash Flow	4.55	-2.88	4.63	-0.6	0.01
Free Cash Flow	6.03	3.3	-2.57	0.29	-2.17
Free Cash Flow Growth	82.80%	-	-	-	-
Free Cash Flow Margin	14.15%	8.16%	-15.83%	1.74%	-13.37%
Free Cash Flow Per Share	0.03	0.02	-0.01	0.00	-0.01
Cash Interest Paid	0.16	-	-	-	-
Cash Income Tax Paid	0.28	0.26	0.24	0.28	0.35
Levered Free Cash Flow	19.3	-52.19	-2.64	6.59	0.91
Unlevered Free Cash Flow	19.3	-52.19	-2.64	6.59	0.91
Change in Working Capital	5.54	3.55	-2.32	5.74	0.29

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