TLV:RTSN 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	74.69	61.98	58.7	31.19	28.42
Depreciation & Amortization	0.81	0.81	0.84	0.5	0.8
Loss (Gain) on Equity Investments	0.04	0.1	0.09	0.09	0.04
Stock-Based Compensation	0.73	1.55	1.87	-	-
Other Operating Activities	-214.38	-6.88	-51.01	7.71	22.57
Change in Accounts Receivable	128.17	-147.74	-37.66	90.48	-68.96
Change in Inventory	11.78	59.44	25.57	2.78	75.59
Change in Accounts Payable	2.7	-3.68	0.91	3.24	2.55
Change in Unearned Revenue	-43.02	-61.31	-77.74	-81.53	-89.16
Change in Other Net Operating Assets	-12.3	-6.57	-32.44	7.93	21.27
Operating Cash Flow	-50.79	-102.31	-110.88	62.39	-6.86
Capital Expenditures	-0.44	-0.09	-0.09	-0.12	-0.19
Investment in Securities	22.24	29.04	-47.86	-	-4
Other Investing Activities	-23.85	-19.08	106.37	-51.5	-21.31
Investing Cash Flow	-42.74	2.7	65.4	-116.71	-34.76
Short-Term Debt Issued	-	-	-	-	21.48
Long-Term Debt Issued	360.37	207.07	101.4	83.82	100.01
Total Debt Issued	360.37	207.07	101.4	83.82	121.49
Short-Term Debt Repaid	-	-	-	-	-71.43
Long-Term Debt Repaid	-212.72	-50.67	-46.08	-32.37	-9.45
Total Debt Repaid	-212.72	-50.67	-46.08	-32.37	-80.88
Net Debt Issued (Repaid)	147.65	156.4	55.32	51.45	40.61
Issuance of Common Stock	1.23	-	-	14.29	41.56
Repurchase of Common Stock	-1.7	-	-	-	-
Common Dividends Paid	-15	-15	-	-	-
Other Financing Activities	-30.5	-11.95	-12.44	-5.7	-22.66
Financing Cash Flow	101.69	129.45	42.87	60.04	59.52
Net Cash Flow	8.15	29.84	-2.6	5.71	17.9
Free Cash Flow	-51.23	-102.4	-110.97	62.26	-7.06
Free Cash Flow Margin	-18.21%	-24.50%	-39.51%	21.48%	-1.96%
Free Cash Flow Per Share	-3.18	-6.40	-7.34	4.12	-0.47
Cash Interest Paid	30.5	16.28	12.44	5.7	25.51
Cash Income Tax Paid	30.06	6.94	7.93	9.24	1.42
Levered Free Cash Flow	98.52	-104.06	11.91	49.41	-40.86
Unlevered Free Cash Flow	112.98	-92.22	20.87	54.18	-37.64
Change in Working Capital	87.33	-159.87	-121.37	22.91	-58.7

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