Reit Azorim - H.F Living Cash Flow Statement

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

Millions ILS. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2016 - 2019
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	2016 - 2019
Net Income	-53.96	-37.66	-75.16	-51.9	250.83	69.18	Upgrade
Asset Writedown	14.24	7.25	46.07	-8.03	-259.82	-69.6	Upgrade
Stock-Based Compensation	1.66	1.63	-	2.94	-	-	Upgrade
Change in Accounts Receivable	-1.9	-1.01	-1.14	-0.67	-0.09	-0.07	Upgrade
Change in Accounts Payable	-0.44	2.37	0.01	0.13	1.25	1.26	Upgrade
Change in Other Net Operating Assets	1.38	-1.71	-0.61	4.95	9.17	1.19	Upgrade
Other Operating Activities	75.2	61.65	52.83	72.84	8.21	2.24	Upgrade
Operating Cash Flow	36.17	32.52	22	20.27	9.55	4.2	Upgrade
Operating Cash Flow Growth	56.76%	47.80%	8.55%	112.21%	127.68%	-27.21%	Upgrade
Acquisition of Real Estate Assets	-109.73	-121.5	-137.18	-1,109	-541.47	-380.89	Upgrade
Sale of Real Estate Assets	214.12	51.95	-	-	-	-	Upgrade
Net Sale / Acq. of Real Estate Assets	104.39	-69.55	-137.18	-1,109	-541.47	-380.89	Upgrade
Other Investing Activities	83.47	7.01	68.51	-37.08	-19.27	-3.24	Upgrade
Investing Cash Flow	187.86	-62.54	-68.68	-1,146	-560.74	-384.13	Upgrade
Short-Term Debt Issued	-	-	-	-	99.4	-	Upgrade
Long-Term Debt Issued	-	130.09	161.49	1,240	273.26	422	Upgrade
Total Debt Issued	578.69	130.09	161.49	1,240	372.66	422	Upgrade
Short-Term Debt Repaid	-	-7.43	-	-	-	-72.52	Upgrade
Long-Term Debt Repaid	-	-16.87	-224.42	-4.61	-1.41	-69.79	Upgrade
Total Debt Repaid	-546.88	-24.3	-224.42	-4.61	-1.41	-142.31	Upgrade
Net Debt Issued (Repaid)	31.81	105.79	-62.93	1,235	371.25	279.69	Upgrade
Issuance of Common Stock	69.45	69.45	93.34	92.37	-	387.53	Upgrade
Other Financing Activities	-78.15	-72.55	-81.7	-35.35	-11.63	-6.22	Upgrade
Net Cash Flow	247.13	72.66	-97.96	166.13	-191.56	281.06	Upgrade
Cash Interest Paid	72.55	72.55	81.7	35.35	11.63	6.22	Upgrade
Levered Free Cash Flow	41.64	-109.15	-5.04	-75.09	-40.01	30.64	Upgrade
Unlevered Free Cash Flow	89.57	-68.12	32.04	-27.13	-34.79	30.64	Upgrade
Change in Working Capital	-0.96	-0.35	-1.74	4.41	10.33	2.38	Upgrade

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