O.Y. Nofar Energy 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	90.13	-26.91	-88.66	153.75	4.38
Depreciation & Amortization	127.83	96.97	80.23	14.7	6.75
Loss (Gain) From Sale of Assets	-235.9	-	-	-0.02	0.13
Asset Writedown & Restructuring Costs	22.36	2.76	33.08	-	-
Loss (Gain) From Sale of Investments	-4.4	-	-51.23	-209.89	-
Loss (Gain) on Equity Investments	21.2	-18.14	31.64	-9.37	0.21
Stock-Based Compensation	12.2	4.42	5.37	5.73	3.71
Other Operating Activities	-27.99	-89.88	16.2	-22.96	3.19
Change in Accounts Receivable	-22.84	31.32	-33.36	-165.93	-76.99
Change in Inventory	6.85	32.93	-6.38	4.94	9.06
Change in Accounts Payable	-35.17	23.84	-9.56	-26.79	-27.71
Change in Other Net Operating Assets	-105.29	15.2	-3.65	16.44	-23.7
Operating Cash Flow	-190.31	43.25	-65.64	-234.61	-101
Capital Expenditures	-1,156	-903.87	-308.75	-87.38	-22.05
Sale of Property, Plant & Equipment	-	-	-	0.13	1.53
Cash Acquisitions	-91.01	-108.54	-474.07	-95.35	-18.84
Divestitures	73.63	-	-	-	-
Investment in Securities	18.35	-53.22	230.48	-881.98	-320.86
Other Investing Activities	-116.83	-0.71	168.13	-1.8	2.21
Investing Cash Flow	-1,272	-1,066	-384.21	-1,066	-358
Short-Term Debt Issued	478.6	98.15	-	260.81	-
Long-Term Debt Issued	1,503	903.59	1,301	335.75	399.42
Total Debt Issued	1,982	1,002	1,301	596.55	399.42
Short-Term Debt Repaid	-	-	-305.92	-	-15.52
Long-Term Debt Repaid	-200.78	-213.02	-227.29	-12.98	-49.49
Total Debt Repaid	-200.78	-213.02	-533.21	-12.98	-65.01
Net Debt Issued (Repaid)	1,781	788.72	767.78	583.58	334.41
Issuance of Common Stock	-	-	147.56	-	554.49
Other Financing Activities	-65.51	-75.46	-24.62	18.91	-
Financing Cash Flow	1,716	713.26	890.72	602.48	888.89
Foreign Exchange Rate Adjustments	-3.72	11.07	-17.35	32.02	-9.18
Net Cash Flow	249.97	-298.75	423.52	-666.48	420.71
Free Cash Flow	-1,346	-860.62	-374.39	-321.99	-123.05
Free Cash Flow Margin	-423.94%	-269.58%	-115.78%	-96.93%	-34.11%
Free Cash Flow Per Share	-35.25	-24.21	-10.53	-9.57	-4.46
Cash Interest Paid	-	127.68	64.93	23.37	2.38
Cash Income Tax Paid	-	11.65	6.01	-0	1.37
Levered Free Cash Flow	-1,247	-875.65	-464.2	1.3	-90.78
Unlevered Free Cash Flow	-1,117	-763.21	-385.37	31.69	-82.18
Change in Working Capital	-195.75	74.02	-92.27	-166.55	-119.37

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