Management reporting

Balance sheet check - - -

ACT Previous month Last year

Income statement 6/30/2025 6/30/2024 6/30/2024
Revenues
Revenue type 1 40,500 45,560 45,560
Revenue type 2 3,500 3,500 3,500
Revenue type 3 3,500 3,500 3,500
Revenue type 4 6,500 6,800 6,800
Total revenues 54,000 59,360 59,360
Cost of sales
Cost of sales (COGS) 22,810 25,300 25,300
Gross profit 31,190 34,060 34,060
Operating expenses
Sales & marketing 3,400 3,760 3,760
Payroll 12,000 13,000 13,000
Distribution & transport 4,509 5,500 5,500
Rent 1,500 1,750 1,750
Office supplies and utilities 990 1,200 1,200
Software and licenses 1,500 1,600 1,600
Research & development 459 555 555
Maintainance and repairs 1,000 1,000 1,000
Depreciation and amortization 1,000 1,000 1,000
Other expenses 760 880 880
Operating expenes 27,118 30,245 30,245
Operating profit
Operating profit 4,072 3,815 3,815
Interest and financial expenses 150 170 170
Financial revenue 75 99 99
Income before tax 3,997 3,744 3,744
Income tax 600 700 700
Net income
Net inocme 3,397 3,044 3,044
EBITDA 4,681 4,568 4,568

BALANCE SHEET Last year Actual Actual

Assets
Cash 3,621 8,965 12,009
Account Receivables 20,000 22,000 22,000
Inventories 15,000 15,000 15,000
Prepaids and advances 3,500 3,500 3,500
PPE & Intangibles 45,000 45,000 45,000
Other assets 100 100 100
Total assets 87,221 94,565 97,609
Equity & Liabilities
Trade Payables 16,000 18,000 18,000
Short term debt 10,000 11,000 11,000
Other current liabilities 2,500 2,800 2,800
Long term debt 28,000 29,000 29,000
Capital 16,621 16,621 16,621
Retained earnings/ loss, net 14,100 17,144 20,188
Total Equity and liabilities 87,221 94,565 97,609

CASH FLOW STATEMENT Last year Actual Actual

Operating activities
Net income 3,397 3,044 3,044
Depreciation and amortization 459 555 555
(Incerease) or decrease in account receivables (260) (2,000) –
(Incerease) or decrease in inventories (315) – –
(Incerease) or decrease in prepaids (200) – –
(Incerease) or decrease in other assets (300) – –
Increase (decrease) in trade payables 150 2,000 –
Increase (decrease) in other c.liabilities – 300 –
Total operating cash flow 2,931 3,899 3,599
Investiing activities
Acquisition of PPE and Intangibles (450) (555) (555)
Total investing cash flow (450) (555) (555)
Financing activities
Increase (decrease) in financial liabilities 100 2,000 –
Increase (decrease) in equity – –
Financing cash flow 100 2,000 –
Total cash flow 2,581 5,344 3,044
Manual adjustment (buffer) – – –
Cash at the beginning of period 1,040 3,621 8,965
Cash at the end of period 3,621 8,965 12,009

RATIO ANALYSIS Last year Actual Actual

Profitability
Gross profit margin 58% 57% 57%
EBITDA margin 9% 8% 8%
Net profit margin 6% 5% 5%
Liquidity
Current assets - Current liabilities 13,621 17,665 20,709
Current ratio 1.5 1.6 1.7
Cash ratio 0.1 0.3 0.4
Quick ratio 1.0 1.1 1.2
Structure and solvency
Equity ratio 35% 36% 38%
Debt ratio 44% 42% 41%
Total cash in total assets 4% 9% 12%
Sales and markteting expenses in revenue 6% 6% 6%
Payroll in operating expesnes 44% 43% 43%
Covenants
Net financial position 34,379 31,035 27,991
Net working capital 20,000 19,700 19,700
Net working capital to Revenue 37% 33% 33%
Fixed Charge Coverage Ratio 0 0 0
 -

Month over month

Budget vs Previous month vs Previous month % vs Budget % vs Budget

6/30/2025

46,016
3,552
3,552
6,868
59,989

25,568
34,421

3,800
13,138
5,558
1,769
1,213
1,617
561
1,011
1,011
889
30,565

3,855
172
100
3,784
568

3,216
4,616

1/31/2025
 11,918
22,233
15,159
3,537
45,477
101
98,425

18,191
11,116
2,830
29,307
16,621
20,360
98,425

1/31/2025

3,216
561
(233)
(159)
(37)
(1)
191
30
3,567

(1,037)
(1,037)

424
–
424
2,953
– – – – –
8,965
11,918

Year 1

57%
8%
5%
20,711
1.6
0.4
1.2

38%
41%
12%
6%
43%

28,505
19,909
33%
0
 - - -

Year to date

ACT Last period Budget vs Last period % vs Last period vs Budget

6/30/2025 6/30/2024 6/30/2025

47,884 48,363 48,846

3,770 3,827 3,884
3,770 3,827 3,884
7,147 7,218 7,291
62,572 63,235 63,906

26,669 26,952 27,238

35,903 36,284 36,668

3,963 4,005 4,048

13,703 13,849 13,996
5,798 5,859 5,921
1,845 1,864 1,884
1,265 1,278 1,292
1,687 1,704 1,723
585 591 598
1,054 1,065 1,077
1,054 1,065 1,077
928 937 947
31,882 32,220 32,561

4,021 4,064 4,107

179 181 183
104 105 107
3,947 3,988 4,031
592 598 605

3,355 3,390 3,426

4,815 4,866 4,918

5/31/2025 6/30/2025 7/31/2025

 24,048 27,161 30,307
23,190 23,436 23,685
15,812 15,979 16,149
3,689 3,728 3,768
47,435 47,938 48,446
105 107 108
114,280 118,349 122,462

18,974 19,175 19,378

11,595 11,718 11,842
2,952 2,983 3,014
30,569 30,893 31,221
16,621 16,621 16,621
33,569 36,959 40,385
114,280 118,349 122,462

5/31/2025 6/30/2025 7/31/2025

3,355 3,390 3,426

585 591 598
(243) (246) (249)
(166) (168) (169)
(39) (39) (40)
(1) (1) (1)
199 201 203
31 31 32
3,721 3,760 3,800

(1,083) (1,094) (1,106)

(1,083) (1,094) (1,106)

442 447 452

– – –
442 447 452
3,080 3,113 3,146
– – –
20,968 24,048 27,161
24,048 27,161 30,307

Year 5

57% 57% 57%

8% 8% 8%
5% 5% 5%
33,219 36,429 39,673
2.0 2.1 2.2
0.7 0.8 0.9
1.5 1.6 1.7

44% 45% 47%

37% 36% 35%
21% 23% 25%
6% 6% 6%
43% 43% 43%

18,116 15,450 12,756

20,766 20,986 21,209
33% 33% 33%
1 1 1
 - - -

Trailling 12 months

% vs Budget ACT Last period Budget vs Last period % vs Last period

6/30/2025 6/30/2024 6/30/2025

46,476 46,941 47,410

3,606 3,660 3,715
3,606 3,660 3,715
6,937 7,006 7,076
60,624 61,266 61,916

25,839 26,112 26,389

34,785 35,154 35,526

3,840 3,881 3,922

13,277 13,417 13,560
5,617 5,677 5,737
1,787 1,806 1,825
1,226 1,239 1,252
1,634 1,651 1,669
567 573 579
1,021 1,032 1,043
1,021 1,032 1,043
899 908 918
30,889 31,216 31,547

3,896 3,938 3,979

174 175 177
101 102 103
3,824 3,864 3,905
574 580 586

3,250 3,285 3,319

4,665 4,715 4,765

2/28/2025 3/31/2025 4/30/2025

 14,903 17,919 20,968
22,468 22,707 22,947
15,319 15,482 15,646
3,575 3,612 3,651
45,958 46,445 46,937
102 103 104
102,326 106,268 110,253

18,383 18,578 18,775

11,234 11,353 11,474
2,860 2,890 2,921
29,618 29,931 30,249
16,621 16,621 16,621
23,610 26,895 30,214
102,326 106,268 110,253

2/28/2025 3/31/2025 4/30/2025

3,250 3,285 3,319

567 573 579
(235) (238) (241)
(161) (162) (164)
(37) (38) (38)
(1) (1) (1)
193 195 197
30 30 31
3,605 3,643 3,682

(1,049) (1,060) (1,071)

(1,049) (1,060) (1,071)

428 433 438

– – –
428 433 438
2,985 3,016 3,048
– – – – –
11,918 14,903 17,919
14,903 17,919 20,968

Year 2 Year 3 Year 4

57% 57% 57%

8% 8% 8%
5% 5% 5%
23,788 26,899 30,042
1.7 1.8 1.9
0.5 0.5 0.6
1.3 1.3 1.4

39% 41% 42%

40% 39% 38%
15% 17% 19%
6% 6% 6%
43% 43% 43%

25,949 23,365 20,754

20,119 20,333 20,548
33% 33% 33%
1 1 1
 - - -

Full Year Forecast

ACT Last period Budget vs Last period % vs Last period vs Budget

12/31/2025 12/31/2025 12/31/2025

49,335 49,828 50,327

3,943 4,002 4,062
3,943 4,002 4,062
7,363 7,437 7,511
64,584 65,269 65,962

27,526 27,819 28,114

37,057 37,451 37,848

4,091 4,134 4,178

14,144 14,294 14,446
5,984 6,048 6,112
1,904 1,924 1,945
1,306 1,319 1,333
1,741 1,759 1,778
604 610 617
1,088 1,100 1,111
1,088 1,100 1,111
957 968 978
32,907 33,256 33,609

4,151 4,195 4,239

185 187 189
108 109 110
4,073 4,117 4,160
611 618 624

3,462 3,499 3,536

4,970 5,023 5,076

8/31/2025 9/30/2025 10/31/2025

 33,486 36,699 39,946
23,936 24,190 24,447
16,320 16,493 16,668
3,808 3,848 3,889
48,960 49,480 50,005
109 110 111
126,619 130,820 135,066

19,584 19,792 20,002

11,968 12,095 12,223
3,046 3,079 3,111
31,552 31,887 32,225
16,621 16,621 16,621
43,848 47,347 50,883
126,619 130,820 135,066

8/31/2025 9/30/2025 10/31/2025

3,462 3,499 3,536

604 610 617
(251) (254) (257)
(171) (173) (175)
(40) (40) (41)
(1) (1) (1)
206 208 210
32 32 33
3,840 3,881 3,922

(1,118) (1,130) (1,142)

(1,118) (1,130) (1,142)

457 462 467

– – –
457 462 467
3,179 3,213 3,247
– – –
30,307 33,486 36,699
33,486 36,699 39,946

57% 57% 57%

8% 8% 8%
5% 5% 5%
42,952 46,265 49,614
2.2 2.3 2.4
1.0 1.0 1.1
1.8 1.9 1.9

48% 49% 50%

34% 34% 33%
26% 28% 30%
6% 6% 6%
43% 43% 43%

10,034 7,283 4,503

21,434 21,661 21,891
33% 33% 33%
1 1 1
 - - -

% vs Budget
11/30/2025 12/31/2025 FY 2025

50,830 51,338 583,593

4,123 4,185 46,329
4,123 4,185 46,329
7,587 7,662 87,103
66,662 67,370 763,354

28,412 28,714 325,351

38,250 38,656 438,003

4,223 4,267 48,353

14,599 14,754 167,177
6,177 6,242 70,729
1,965 1,986 22,505
1,348 1,362 15,432
1,797 1,816 20,576
623 630 7,137
1,123 1,135 12,860
1,123 1,135 12,860
988 999 11,317
33,966 34,326 388,943

4,284 4,330 49,060

191 193 2,186
111 112 1,273
4,205 4,249 48,147
631 637 7,222

3,574 3,612 40,925

5,130 5,184 58,743

11/30/2025 12/31/2025 FY 2025

 43,227 46,543 46,543
24,706 24,969 24,969
16,845 17,024 17,024
3,931 3,972 3,972
50,536 51,072 51,072
112 113 113
139,357 143,694 143,694
0
20,214 20,429 20,429
12,353 12,484 12,484
3,144 3,178 3,178
32,567 32,913 32,913
16,621 16,621 16,621
54,457 58,069 58,069
139,357 143,694 143,694

11/30/2025 12/31/2025

3,574 3,612 40,925

623 630 7,137
(260) (262) (2,969)
(177) (179) (2,024)
(41) (42) (472)
(1) (1) (13)
212 215 2,429
33 33 378
3,964 4,006 45,390

(1,154) (1,167) (13,209)

(1,154) (1,167) (13,209)

472 477 5,397

– – –
472 477 5,397
3,281 3,316 37,578
– – –
39,946 43,227 8,965
43,227 46,543 46,543

57% 57% 57%

8% 8% 8%
5% 5% 5%
52,998 56,417 56,417
2.5 2.6 2.6
1.2 1.3 1.3
2.0 2.1 2.1

51% 52% 52%

32% 32% 32%
31% 32% 32%
6% 6% 6%
43% 43% 43%

1,693 (1,146) (1,146)

22,123 22,358 22,358
33% 33% 3%
2 2 0
 Historical Targeted Historical % of
Driver / Link Applied value growth rate growth rate Revenue

Growth rate estimate 1.0% 1.0% 2.0%

Growth rate estimate 1.5% 1.5% 2.0%
Growth rate estimate 1.5% 1.5% 2.0%
Growth rate estimate 1.0% 1.0% 2.0%

Gross margin rate 57.4% n-a n-a

% of Revenue 6.3% 1.1% 2.0%

% of Revenue 21.9% 1.1% 2.0%
% of Revenue 9.3% 1.1% 2.0%
% of Revenue 2.9% 1.1% 2.0%
% of Revenue 2.0% 1.1% 2.0%
% of Revenue 2.7% 1.1% 2.0%
% of Revenue 0.9% 1.1% 2.0%
% of Revenue 1.7% 1.1% 2.0%
% of Revenue 1.7% 1.1% 2.0%
% of Revenue 1.5% 1.1% 2.0%

Percentage of total debt 0.4% 1.1% 2.0%

% of Revenue 0.2% 1.1% 2.0%

Effective tax rate 15.0% n-a n-a n-a

Link to CF statement
% of Revenue 37.1%
% of Revenue 25.3%
% of Revenue 5.9%
% of Revenue 75.8% 1.1% 2.0%
% of Revenue 0.2% 1.1% 2.0%

% of Revenue 30.3%
% of Revenue 18.5% 1.1% 2.0%
% of Revenue 4.7% 1.1% 2.0%
% of Revenue 48.9% 1.1% 2.0%
0.0% 2.0%

Link from IS
Link from IS
Link from BS
Link from BS

Link from BS

Link from BS
Targeted % of Historical Targeted gross Marginal Effective tax Historical Targeted % of
Revenue gross margin margin tax rate rate estimate % of Debt Debt

n-a n-a
n-a n-a
n-a n-a
n-a n-a

58% 60% n-a n-a

n-a n-a
n-a n-a
n-a n-a
n-a n-a
n-a n-a
n-a n-a
n-a n-a
n-a n-a
n-a n-a
n-a n-a

n-a n-a 0.4% 0.5%

n-a n-a

n-a n-a n-a 17% 17% n-a n-a

Annual budget

Balance sheet check - - -

Average Historic Historic

Income statement AVG 2024 12/31/2023 11/30/2024
Revenues
Revenue type 1 40,500 40,500 40,500
Revenue type 2 3,500 3,500 3,500
Revenue type 3 3,500 3,500 3,500
Revenue type 4 6,500 6,500 6,500
Total revenues 54,000 54,000 54,000
Cost of sales
Cost of sales (COGS) 22,810 22,810 22,810
Gross profit 31,190 31,190 31,190
Operating expenses
Sales & marketing 3,400 3,400 3,400
Payroll 12,000 12,000 12,000
Distribution & transport 4,509 4,509 4,509
Rent 1,500 1,500 1,500
Office supplies and utilities 990 990 990
Software and licenses 1,500 1,500 1,500
Research & development 459 459 459
Maintainance and repairs 1,000 1,000 1,000
Depreciation and amortization 1,000 1,000 1,000
Other expenses 760 760 760
Operating expenes 27,118 27,118 27,118
Operating profit
Operating profit 4,072 4,072 4,072
Interest and financial expenses 150 150 150
Financial revenue 75 75 75
Income before tax 3,997 3,997 3,997
Income tax 600 600 600
Net income
Net inocme 3,397 3,397 3,397
EBITDA 4,681 4,681 4,681

BALANCE SHEET Last year Last year Last year

Assets
Cash 3,621 3,621 3,621
Account Receivables 20,000 20,000 20,000
Inventories 15,000 15,000 15,000
Prepaids and advances 3,500 3,500 3,500
PPE & Intangibles 45,000 45,000 45,000
Other assets 100 100 100
Total assets 87,221 87,221 87,221
Equity & Liabilities
Trade Payables 16,000 16,000 16,000
Short term debt 10,000 10,000 10,000
Other current liabilities 2,500 2,500 2,500
Long term debt 28,000 28,000 28,000
Capital 16,621 16,621 16,621
Retained earnings/ loss, net 14,100 14,100 14,100
Total Equity and liabilities 87,221 87,221 87,221

CASH FLOW STATEMENT Last year Last year Last year

Operating activities
Net income 3,397 3,397 3,397
Depreciation and amortization 459 459 459
(Incerease) or decrease in account receivables (260) (260) (260)
(Incerease) or decrease in inventories (315) (315) (315)
(Incerease) or decrease in prepaids (200) (200) (200)
(Incerease) or decrease in other assets (300) (300) (300)
Increase (decrease) in trade payables 150 150 150
Increase (decrease) in other c.liabilities – – –
Total operating cash flow 2,931 2,931 2,931
Investiing activities
Acquisition of PPE and Intangibles (450) (450) (450)
Total investing cash flow (450) (450) (450)
Financing activities
Increase (decrease) in financial liabilities 100 100 100
Increase (decrease) in equity
Financing cash flow 100 100 100
Total cash flow 2,581 2,581 2,581
Manual adjustment – – –
Cash at the beginning of period 1,040 1,040 1,040
Cash at the end of period 3,621 3,621 3,621

RATIO ANALYSIS Last year Last year Last year

Profitability
Gross profit margin 58% 58% 58%
EBITDA margin 9% 9% 9%
Net profit margin 6% 6% 6%
Liquidity
Current assets - Current liabilities 13,621 13,621 13,621
Current ratio 1.5 1.5 1.5
Cash ratio 0.1 0.1 0.1
Quick ratio 1.0 1.0 1.0
Structure and solvency
Equity ratio 35% 35% 35%
Debt ratio 44% 44% 44%
Total cash in total assets 4% 4% 4%
Sales and markteting expenses in revenue 6% 6% 6%
Payroll in operating expesnes 44% 44% 44%
Covenants
Net financial position 34,379 34,379 34,379
Net working capital 20,000 20,000 20,000
Net working capital to Revenue 37% 37% 37%
Fixed Charge Coverage Ratio 0 0 0
 - - - - - -

Baseline
12/31/2024 1/31/2025 2/28/2025 3/31/2025 4/30/2025 5/31/2025

45,560 46,016 46,476 46,941 47,410 47,884

3,500 3,552 3,606 3,660 3,715 3,770
3,500 3,552 3,606 3,660 3,715 3,770
6,800 6,868 6,937 7,006 7,076 7,147
59,360 59,989 60,624 61,266 61,916 62,572

25,300 25,568 25,839 26,112 26,389 26,669

34,060 34,421 34,785 35,154 35,526 35,903

3,760 3,800 3,840 3,881 3,922 3,963

13,000 13,138 13,277 13,417 13,560 13,703
5,500 5,558 5,617 5,677 5,737 5,798
1,750 1,769 1,787 1,806 1,825 1,845
1,200 1,213 1,226 1,239 1,252 1,265
1,600 1,617 1,634 1,651 1,669 1,687
555 561 567 573 579 585
1,000 1,011 1,021 1,032 1,043 1,054
1,000 1,011 1,021 1,032 1,043 1,054
880 889 899 908 918 928
30,245 30,565 30,889 31,216 31,547 31,882

3,815 3,855 3,896 3,938 3,979 4,021

170 172 174 175 177 179
99 100 101 102 103 104
3,744 3,784 3,824 3,864 3,905 3,947
700 568 574 580 586 592

3,044 3,216 3,250 3,285 3,319 3,355

4,568 4,616 4,665 4,715 4,765 4,815

Actual 1/31/2025 2/28/2025 3/31/2025 4/30/2025 5/31/2025

8,965 11,918 14,903 17,919 20,968 24,048

22,000 22,233 22,468 22,707 22,947 23,190
15,000 15,159 15,319 15,482 15,646 15,812
3,500 3,537 3,575 3,612 3,651 3,689
45,000 45,477 45,958 46,445 46,937 47,435
100 101 102 103 104 105
94,565 98,425 102,326 106,268 110,253 114,280

18,000 18,191 18,383 18,578 18,775 18,974

11,000 11,116 11,234 11,353 11,474 11,595
2,800 2,830 2,860 2,890 2,921 2,952
29,000 29,307 29,618 29,931 30,249 30,569
16,621 16,621 16,621 16,621 16,621 16,621
17,144 20,360 23,610 26,895 30,214 33,569
94,565 98,425 102,326 106,268 110,253 114,280

Actual 1/31/2025 2/28/2025 3/31/2025 4/30/2025 5/31/2025

3,044 3,216 3,250 3,285 3,319 3,355

555 561 567 573 579 585
(2,000) (233) (235) (238) (241) (243)
– (159) (161) (162) (164) (166)
– (37) (37) (38) (38) (39)
– (1) (1) (1) (1) (1)
2,000 191 193 195 197 199
300 30 30 30 31 31
3,899 3,567 3,605 3,643 3,682 3,721

(555) (1,037) (1,049) (1,060) (1,071) (1,083)

(555) (1,037) (1,049) (1,060) (1,071) (1,083)

2,000 424 428 433 438 442

– – – – – –
2,000 424 428 433 438 442
5,344 2,953 2,985 3,016 3,048 3,080
– – – – – –
3,621 8,965 11,918 14,903 17,919 20,968
8,965 11,918 14,903 17,919 20,968 24,048

Actual Year 1 Year 2 Year 3 Year 4 Year 5

57% 57% 57% 57% 57% 57%

8% 8% 8% 8% 8% 8%
5% 5% 5% 5% 5% 5%

17,665 20,711 23,788 26,899 30,042 33,219

 1.6 1.6 1.7 1.8 1.9 2.0
0.3 0.4 0.5 0.5 0.6 0.7
1.1 1.2 1.3 1.3 1.4 1.5

36% 38% 39% 41% 42% 44%

42% 41% 40% 39% 38% 37%
9% 12% 15% 17% 19% 21%
6% 6% 6% 6% 6% 6%
43% 43% 43% 43% 43% 43%

31,035 28,505 25,949 23,365 20,754 18,116

19,700 19,909 20,119 20,333 20,548 20,766
33% 33% 33% 33% 33% 33%
0 0 1 1 1 1
 - - - - - -

6/30/2025 7/31/2025 8/31/2025 9/30/2025 10/31/2025 11/30/2025

48,363 48,846 49,335 49,828 50,327 50,830

3,827 3,884 3,943 4,002 4,062 4,123
3,827 3,884 3,943 4,002 4,062 4,123
7,218 7,291 7,363 7,437 7,511 7,587
63,235 63,906 64,584 65,269 65,962 66,662

26,952 27,238 27,526 27,819 28,114 28,412

36,284 36,668 37,057 37,451 37,848 38,250

4,005 4,048 4,091 4,134 4,178 4,223

13,849 13,996 14,144 14,294 14,446 14,599
5,859 5,921 5,984 6,048 6,112 6,177
1,864 1,884 1,904 1,924 1,945 1,965
1,278 1,292 1,306 1,319 1,333 1,348
1,704 1,723 1,741 1,759 1,778 1,797
591 598 604 610 617 623
1,065 1,077 1,088 1,100 1,111 1,123
1,065 1,077 1,088 1,100 1,111 1,123
937 947 957 968 978 988
32,220 32,561 32,907 33,256 33,609 33,966

4,064 4,107 4,151 4,195 4,239 4,284

181 183 185 187 189 191
105 107 108 109 110 111
3,988 4,031 4,073 4,117 4,160 4,205
598 605 611 618 624 631

3,390 3,426 3,462 3,499 3,536 3,574

4,866 4,918 4,970 5,023 5,076 5,130

6/30/2025 7/31/2025 8/31/2025 9/30/2025 10/31/2025 11/30/2025

27,161 30,307 33,486 36,699 39,946 43,227

23,436 23,685 23,936 24,190 24,447 24,706
 15,979 16,149 16,320 16,493 16,668 16,845
3,728 3,768 3,808 3,848 3,889 3,931
47,938 48,446 48,960 49,480 50,005 50,536
107 108 109 110 111 112
118,349 122,462 126,619 130,820 135,066 139,357

19,175 19,378 19,584 19,792 20,002 20,214

11,718 11,842 11,968 12,095 12,223 12,353
2,983 3,014 3,046 3,079 3,111 3,144
30,893 31,221 31,552 31,887 32,225 32,567
16,621 16,621 16,621 16,621 16,621 16,621
36,959 40,385 43,848 47,347 50,883 54,457
118,349 122,462 126,619 130,820 135,066 139,357

6/30/2025 7/31/2025 8/31/2025 9/30/2025 10/31/2025 11/30/2025

3,390 3,426 3,462 3,499 3,536 3,574

591 598 604 610 617 623
(246) (249) (251) (254) (257) (260)
(168) (169) (171) (173) (175) (177)
(39) (40) (40) (40) (41) (41)
(1) (1) (1) (1) (1) (1)
201 203 206 208 210 212
31 32 32 32 33 33
3,760 3,800 3,840 3,881 3,922 3,964

(1,094) (1,106) (1,118) (1,130) (1,142) (1,154)

(1,094) (1,106) (1,118) (1,130) (1,142) (1,154)

447 452 457 462 467 472

– – – – – –
447 452 457 462 467 472
3,113 3,146 3,179 3,213 3,247 3,281
– – – – – –
24,048 27,161 30,307 33,486 36,699 39,946
27,161 30,307 33,486 36,699 39,946 43,227

57% 57% 57% 57% 57% 57%

8% 8% 8% 8% 8% 8%
5% 5% 5% 5% 5% 5%

36,429 39,673 42,952 46,265 49,614 52,998

 2.1 2.2 2.2 2.3 2.4 2.5
0.8 0.9 1.0 1.0 1.1 1.2
1.6 1.7 1.8 1.9 1.9 2.0

45% 47% 48% 49% 50% 51%

36% 35% 34% 34% 33% 32%
23% 25% 26% 28% 30% 31%
6% 6% 6% 6% 6% 6%
43% 43% 43% 43% 43% 43%

15,450 12,756 10,034 7,283 4,503 1,693

20,986 21,209 21,434 21,661 21,891 22,123
33% 33% 33% 33% 33% 33%
1 1 1 1 1 2
 - -

Driver / Link Applied value

12/31/2025 FY 2025

51,338 583,593 Growth rate estimate 1.0%

4,185 46,329 Growth rate estimate 1.5%
4,185 46,329 Growth rate estimate 1.5%
7,662 87,103 Growth rate estimate 1.0%
67,370 763,354

28,714 325,351 Gross margin rate 57.4%

38,656 438,003

4,267 48,353 % of Revenue 6.3%

14,754 167,177 % of Revenue 21.9%
6,242 70,729 % of Revenue 9.3%
1,986 22,505 % of Revenue 2.9%
1,362 15,432 % of Revenue 2.0%
1,816 20,576 % of Revenue 2.7%
630 7,137 % of Revenue 0.9%
1,135 12,860 % of Revenue 1.7%
1,135 12,860 % of Revenue 1.7%
999 11,317 % of Revenue 1.5%
34,326 388,943

4,330 49,060
193 2,186 Percentage of total debt 0.4%
112 1,273 % of Revenue 0.2%
4,249 48,147
637 7,222 Effective tax rate 15.0%

3,612 40,925
5,184 58,743

12/31/2025 FY 2025

46,543 46,543 Link to CF statement

24,969 24,969 % of Revenue 37.1%
 17,024 17,024 % of Revenue 25.3%
3,972 3,972 % of Revenue 5.9%
51,072 51,072 % of Revenue 75.8%
113 113 % of Revenue 0.2%
143,694 143,694
0
20,429 20,429 % of Revenue 30.3%
12,484 12,484 % of Revenue 18.5%
3,178 3,178 % of Revenue 4.7%
32,913 32,913 % of Revenue 48.9%
16,621 16,621
58,069 58,069
143,694 143,694

12/31/2025

3,612 40,925 Link from IS

630 7,137 Link from IS
(262) (2,969) Link from BS
(179) (2,024) Link from BS
(42) (472)
(1) (13)
215 2,429 Link from BS
33 378
4,006 45,390

(1,167) (13,209)
(1,167) (13,209)

477 5,397 Link from BS

– –
477 5,397
3,316 37,578
– –
43,227 8,965
46,543 46,543

57% 57%
8% 8%
5% 5%

56,417 56,417
 2.6 2.6
1.3 1.3
2.1 2.1

52% 52%
32% 32%
32% 32%
6% 6%
43% 43%

(1,146) (1,146)
22,358 22,358
33% 3%
2 0
Historical Targeted Historical % of Targeted % of Historical Targeted gross Marginal
growth rate growth rate Revenue Revenue gross margin margin tax rate

1.0% 2.0% n-a

1.5% 2.0% n-a
1.5% 2.0% n-a
1.0% 2.0% n-a

n-a n-a 58% 60% n-a

1.1% 2.0% n-a

1.1% 2.0% n-a
1.1% 2.0% n-a
1.1% 2.0% n-a
1.1% 2.0% n-a
1.1% 2.0% n-a
1.1% 2.0% n-a
1.1% 2.0% n-a
1.1% 2.0% n-a
1.1% 2.0% n-a

1.1% 2.0% n-a

1.1% 2.0% n-a

n-a n-a n-a n-a n-a n-a 17%

1.1% 2.0%
1.1% 2.0%

1.1% 2.0%
1.1% 2.0%
1.1% 2.0%
0.0% 2.0%
Effective tax Historical Targeted % of
rate estimate % of Debt Debt

n-a
n-a
n-a
n-a

n-a

n-a
n-a
n-a
n-a
n-a
n-a
n-a
n-a
n-a
n-a

n-a 0.4% 0.5%

n-a

16% n-a n-a