ITF

ITF Trust Annual Report and Financial Statements 2021 15 Statement con nues over the page. Note(s) 2021 $000 2020 $000 Cash flows from opera ng ac vi es Deficit for the year before taxa on (5,983) (7,554) Adjustments for: Deprecia on and amor sa on 23, 24, 26 2,824 2,857 Increase in value of investments (864) (2,337) Gain on sale of investments 20 (3,288) (1,953) Financial income 20, 21 (1) (51) Finance costs 25 18 Foreign exchange gain 125 (95) (7,162) (9,115) (Increase) / decrease in trade and other receivables (4,628) 14,165 Increase in restricted cash (2) (158) Decrease / (increase) in inventories 263 (404) Increase / (decrease) in trade and other payables 14,893 (10,517) Increase / (decrease) in deferred income 14,069 (1,791) Increase in long-term security deposit 2 158 17,435 (7,662) Interest received - 22 Tax paid 219 (84) Net cash generated from / (used in) opera ng ac vi es 17,654 (7,724) Cash flows from inves ng ac vi es Proceeds from sale of investments 12,083 17,012 Interest and dividends received 20, 21 1 29 Acquisi on of intangible assets 23 (1,316) (1,862) Acquisi on of property, plant and equipment 24 (139) (151) Disposal of short term investments (Olympics) - 7,000 Amounts placed on deposit (Olympics) (3,116) - Acquisi on of investments (1,000) (5,000) Net cash (used in) / from inves ng ac vi es 6,513 17,028 Cash flows from financing ac vi es Proceeds from borrowing - 3,000 Repayment of borrowing (3,000) - Principal elements of lease payments 41 (669) (541) Net cash (used in) / from financing ac vi es (3,669) 2,459 for the year ended 31 December 2021 Consolidated Cash Flow Statement

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