NARASOFT Cash Flow Statement

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

Millions KRW. Fiscal year is Jan - Dec.

Fiscal Year	FY 2017	FY 2016
Period Ending	Dec '17 Dec 31, 2017	Dec '16 Dec 31, 2016
Net Income	736.34	-1,216
Depreciation & Amortization	294.29	204.07
Loss (Gain) From Sale of Assets	12.36	-
Provision & Write-off of Bad Debts	172.42	-
Other Operating Activities	21.72	-0
Change in Accounts Receivable	-1,565	-26.8
Change in Other Net Operating Assets	62.89	99.28
Operating Cash Flow	-265.25	-939.88
Capital Expenditures	-148.5	-450.66
Sale (Purchase) of Intangibles	-5.7	-48.65
Investment in Securities	36	-27
Other Investing Activities	244.55	-194.39
Investing Cash Flow	107.59	-747.98
Short-Term Debt Issued	878.98	893.85
Total Debt Issued	878.98	893.85
Short-Term Debt Repaid	-735.29	-458.26
Total Debt Repaid	-735.29	-458.26
Net Debt Issued (Repaid)	143.69	435.59
Issuance of Common Stock	-	1,257
Financing Cash Flow	143.69	1,693
Net Cash Flow	-13.97	4.74
Free Cash Flow	-413.75	-1,391
Free Cash Flow Margin	-14.91%	-134.97%
Free Cash Flow Per Share	-83.72	-488.12
Levered Free Cash Flow	-741.17	-
Unlevered Free Cash Flow	-694.66	-
Change in Working Capital	-1,502	72.48

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