ITF

15 ITF Annual Report and Financial Statements 2023 Statement con nues over the page. Note(s) 2023 $000 2022 $000 Cash flows from opera ng ac vi es Deficit for the year before taxa on 373 (2,396) Adjustments for: Non cash item of joint venture IP valua on (2,468) - Deprecia on and amor sa on 23, 24, 27 1,689 2,519 (Increase) / decrease in value of investments (4,745) 5,768 (Gain) / loss on sale of investments 20 1,087 (1,042) Financial income 21 (48) (10) Finance costs - 10 Foreign exchange gain (916) (275) (5,028) 4,574 Increase in trade and other receivables (28,091) (14,158) (Increase) / decrease in inventories (49) 175 Increase in trade and other payables 11,438 4,214 (Decrease) in contract liabili es (11,150) (8,468) Decrese in provisions - (319) (32,881) (13,982) Interest received 48 14 Tax received 402 487 Net cash (used in) / generated from opera ng ac vi es (32,431) (13,481) Cash flows from inves ng ac vi es Proceeds from sale of investments 10,041 6,581 Interest recieved / (paid) - (4) Acquisi on of intangible assets 23 (1,806) (1,251) Acquisi on of property, plant and equipment 24 (209) (232) Disposal of short term investments (Olympics) 7,501 4,480 Amounts placed on deposit (Olympics) - (8,342) Acquisi on of investments - (2,500) Invetsment in joint venture 26 (3,305) - Net cash (used in) / generated from inves ng ac vi es (12,222) (1,268) Cash flows from financing ac vi es Principal elements of lease payments 42 (75) (712) Net cash used in financing ac vi es (75) (712) CONSOLIDATED CASH FLOW STATEMENT for the year ended 31 December 2023

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