Mazor Robotics Ltd.

CONSOLIDATED CASH FLOW STATEMENTS

 (U.S. Dollars in thousands)

Three month period

ended March 31,

2018

(Unaudited)

2017

(Unaudited)

Cash flows from operating activities:

Loss for the period

$

(1,277)

$

(5,232)

Adjustments:

Depreciation and amortization

$

421

$

342

Finance income, net

$

(174)

$

(50)

Share-based payments

$

1,535

$

1,201

Income tax expense (tax benefit)

$

(1)

$

(243)

$

1,781

$

1,250

Change in inventory

$

(140)

$

(1,362)

Change in trade and other accounts receivable

$

3,534

$

4,771

Change in prepaid lease fees

$

5

$

(21)

Change in trade and other accounts payable

$

(1,524)

$

1,103

Change in employee benefits

$

58

$

78

$

1,933

$

4,569

Interest received

$

281

$

72

Income tax paid

$

(28)

$

-

$

253

$

72

Net cash provided by operating activities

$

2,690

$

659

Cash flows from investing activities:

Proceeds from (investment in) short-term investments, net

$

(2,244)

$

8,957

Investments in long-term investments

$

(3,354)

$

(98)

Purchase of property and equipment

$

(488)

$

(809)

Net cash provided by investing activities

$

(6,086)

$

8,050

Cash flows from financing activities:

Proceeds from exercise of share options by employees

$

4,122

$

2,259

Net cash provided by financing activities

$

4,122

$

2,259

Net increase in cash and cash equivalents

$

726

$

10,968

Cash and cash equivalents at the beginning of the period

$

46,376

$

14,954

Effect of exchange rate differences on balances of

 cash and cash equivalents

$

(99)

$

(26)

Cash and cash equivalents at the end of the period

$

47,003

$

25,896

Supplementary cash flows information:

Purchase of property and equipment in credit

$

(7)

$

(148)

Classification of inventory to fixed assets

$

50

$

300