A. Libental Holdings 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
Period Ending	Jun '25 Jun 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
Net Income	21.6	-0.57	-18.84	-2.34	-1.71	-5.49
Depreciation & Amortization	0.18	0.29	0.54	0.9	0.82	0.66
Gain (Loss) on Sale of Assets	-	-	-0.05	-	-	-
Asset Writedown	0.56	0.56	0.05	0.43	-0.09	0.03
Income (Loss) on Equity Investments	-28.37	4.28	3.51	-2.06	-4.98	1.51
Change in Accounts Receivable	-8.72	10.35	14.68	-6.9	-14.52	15.47
Change in Accounts Payable	-2.25	-8.27	0.85	-3.33	4.85	-5
Change in Other Net Operating Assets	-7.99	-8.72	-22.47	-28.99	-22.84	-7.5
Other Operating Activities	-1.09	9.75	-0.83	0.19	7.1	2.43
Operating Cash Flow	-13.33	13.47	-9.6	-33.43	-17.93	-7.24
Acquisition of Real Estate Assets	-0.01	-0.01	-0.01	-0.19	-4.5	-2.11
Sale of Real Estate Assets	1.6	-	0.09	-	-	-
Net Sale / Acq. of Real Estate Assets	1.58	-0.01	0.08	-0.19	-4.5	-2.11
Cash Acquisition	-1.8	-	-	-	-	-
Other Investing Activities	-1.54	-0.34	1.39	5.2	-0.29	25.17
Investing Cash Flow	0.33	2.1	2.62	6.9	-31.06	23.06
Short-Term Debt Issued	-	-	6.12	17.59	25.43	-
Long-Term Debt Issued	-	62.91	24.93	13.16	110.1	34.87
Total Debt Issued	79.55	62.91	31.05	30.74	135.53	34.87
Short-Term Debt Repaid	-	-32.87	-	-	-	-10.27
Long-Term Debt Repaid	-	-37.88	-44.9	-30.17	-38.05	-42.31
Total Debt Repaid	-69.77	-70.75	-44.9	-30.17	-38.05	-52.58
Net Debt Issued (Repaid)	9.78	-7.84	-13.85	0.57	97.48	-17.71
Other Financing Activities	-5.14	-13.52	0.12	-8.26	3.44	-2.2
Miscellaneous Cash Flow Adjustments	-0.01	-	0	-	-	-
Net Cash Flow	-5.38	-5.8	-20.71	-34.22	51.93	-4.09
Cash Interest Paid	5.14	13.52	10.66	8.26	12.42	7.1
Levered Free Cash Flow	26.05	-2.73	17.94	0.53	-10.28	18.27
Unlevered Free Cash Flow	35.39	8.65	25.74	7.94	-4.59	23.56
Change in Working Capital	-6.21	-0.84	6.01	-30.55	-19.07	-6.38

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