ITF

for the year ended 31 December 2020 Note(s) 2020 2019 $000 $000 Cash flows from operating activities (Deficit) / surplus for the year before taxation (7,554) 6,617 Adjustments for: Depreciation and amortisation 23, 24, 26 2,857 2,561 Increase in value of investments (2,337) (7,745) Gain on sale of investments 20 (1,953) (416) Financial income 20, 21 (51) (481) Finance costs 18 65 Foreign exchange gain (95) (630) (9,115) (29) Decrease / (increase) in trade and other receivables 14,165 (11,745) Increase in restricted cash (158) (25,219) (Increase) / decrease in inventories (404) 190 (Decrease) / increase in trade and other payables (10,517) 3,079 Decrease in deferred income (1,791) (18,957) Increase in long-term security deposit 158 25,219 (7,662) (27,462) Interest received 22 150 Tax paid (84) (728) Net cash used in operating activities (7,724) (28,040) Cash flows from investing activities Proceeds from sale of investments 17,012 11,515 Interest and dividends received 20, 21 29 331 Acquisition of intangible assets 23 (1,862) (2,531) Acquisition of property, plant and equipment 24 (151) (331) Disposal of short term investments (Olympics) 7,000 6,000 Acquisition of investments (5,000) (7,335) Net cash from investing activities 17,028 7,649 Cash flows from financing activities Proceeds from borrowings 3,000 - Principal elements of lease payments 40 (541) (714) Net cash from financing activities 2,459 (714) Net increase / (decrease) in cash and cash equivalents 11,763 (21,105) Cash and cash equivalents at 1 January 8,376 28,818 Effects of exchange rate fluctuations on cash held 288 663 Cash and cash equivalents at 31 December 20,427 8,376 Being: Cash and cash equivalents per the balance sheet 14,225 5,543 Other short term deposits 29 6,202 2,833 Cash and cash equivalents at 31 December 20,427 8,376 The notes on pages 14 to 33 are an integral part of these consolidated financial statements. CONSOLIDATED CASH FLOWS STATEMENT 13

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