TLV:RLRE 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
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	244.99	154.73	107.85	44.9
Depreciation & Amortization	0.7	0.46	0.5	0.25
Gain (Loss) on Sale of Investments	-82.19	-23.44	28.51	161.3
Asset Writedown	-149.41	-104.78	-62.89	-68.22
Income (Loss) on Equity Investments	-30.8	-24.16	-45.12	-59.69
Change in Accounts Receivable	-14.31	-25.08	-2.11	-2.49
Change in Accounts Payable	10.23	0.09	-0.63	1.96
Change in Other Net Operating Assets	-5.06	-1.72	-1.85	2.78
Other Operating Activities	8.29	6.27	0.13	-3.49
Operating Cash Flow	-35.19	-54.83	-67.35	-13.39
Acquisition of Real Estate Assets	-170.76	-115.79	-106.22	-78.9
Sale of Real Estate Assets	0.92	-	1	20.01
Net Sale / Acq. of Real Estate Assets	-169.84	-115.79	-105.22	-58.89
Investment in Marketable & Equity Securities	4.69	16.91	45.62	-36.64
Other Investing Activities	28.92	0.65	4.02	-36.04
Investing Cash Flow	-138.54	-95.87	-55.35	-131.48
Short-Term Debt Issued	119.49	59.74	45.1	75.94
Long-Term Debt Issued	109.75	31.03	24.37	54.2
Total Debt Issued	229.24	90.77	69.47	130.14
Long-Term Debt Repaid	-65.82	-29.66	-17.42	-4.74
Net Debt Issued (Repaid)	163.42	61.11	52.05	125.4
Issuance of Common Stock	-	3.45	-	2.95
Repurchase of Common Stock	-7.06	-	-2.47	-
Common Dividends Paid	-	-	-	-6.32
Other Financing Activities	31.25	85.02	46.37	27.06
Net Cash Flow	13.88	-1.12	-26.75	4.24
Cash Income Tax Paid	-	-	-	3.69
Levered Free Cash Flow	10.66	-35.67	-	-
Unlevered Free Cash Flow	29.75	-24.45	-	-
Change in Working Capital	-26.79	-63.91	-96.32	-88.44

Source: S&P Capital IQ. Real Estate template. Financial Sources.