I.B.I. Investment House Cash Flow Statement

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

Millions ILS. 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	174.59	178.14	156.46	90.76	139.58
Depreciation & Amortization	61.16	45.64	30.13	23.39	19.72
Other Amortization	8.23	4.98	-	-	-
Loss (Gain) From Sale of Assets	-13.58	-24	-	-	-
Loss (Gain) From Sale of Investments	-48.65	-20.91	-12.02	23.65	-72.39
Loss (Gain) on Equity Investments	-22.45	-15.18	-14.19	-7.6	-9.12
Stock-Based Compensation	12.55	6.23	7.52	8.99	1.29
Other Operating Activities	84.46	42.76	54.26	28.87	28.29
Change in Accounts Receivable	-11.79	-8.33	-1.96	-3.18	-1.74
Change in Other Net Operating Assets	-16.65	39.95	49.45	-103.77	82.87
Operating Cash Flow	227.87	249.28	269.65	61.11	188.49
Operating Cash Flow Growth	-8.59%	-7.55%	341.23%	-67.58%	137.88%
Capital Expenditures	-17.29	-13.71	-26.93	-10.82	-6.94
Cash Acquisitions	-43.5	-175.68	-1.55	-4.32	-13.35
Sale (Purchase) of Intangibles	-15.92	-17.22	-35.15	-5.06	-
Investment in Securities	-61.3	137.26	-125	-59.57	178.71
Other Investing Activities	50.38	-28.52	-80.73	35.7	-112.46
Investing Cash Flow	-87.63	-97.88	-269.38	-44.08	45.96
Short-Term Debt Issued	56.56	21.16	-	44.98	-
Long-Term Debt Issued	54	9.58	151.84	-	-
Total Debt Issued	110.56	30.74	151.84	44.98	-
Short-Term Debt Repaid	-	-	-1.56	-	-
Long-Term Debt Repaid	-67.12	-47.39	-35.05	-62.53	-60.82
Total Debt Repaid	-67.12	-47.39	-36.61	-62.53	-60.82
Net Debt Issued (Repaid)	43.44	-16.65	115.23	-17.54	-60.82
Issuance of Common Stock	-	100.62	-	-	-
Common Dividends Paid	-160	-81	-118	-37.9	-76.5
Other Financing Activities	-61.39	-3.11	-34.71	-25.32	-59.05
Financing Cash Flow	-177.95	-0.14	-37.48	-80.76	-196.36
Net Cash Flow	-37.71	151.26	-37.21	-63.73	38.09
Free Cash Flow	210.58	235.57	242.72	50.29	181.55
Free Cash Flow Growth	-10.61%	-2.94%	382.64%	-72.30%	164.25%
Free Cash Flow Margin	14.02%	22.34%	30.04%	7.67%	31.13%
Free Cash Flow Per Share	14.65	16.79	18.63	3.86	14.33
Cash Interest Paid	21.47	19.44	7.26	6.18	4.69
Cash Income Tax Paid	113.56	78.73	55.72	65.97	36.23
Levered Free Cash Flow	368.47	215.96	97.93	-72.27	154.55
Unlevered Free Cash Flow	394.27	228.9	103.17	-69.38	157.25
Change in Working Capital	-28.44	31.61	47.49	-106.96	81.13

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