Exhibit 99.4

PHOTRONICS,  INC.

Condensed Consolidated Statements of Cash Flows

(in thousands)

(Unaudited)

	Six Months Ended
	April 30, 2023			May 1, 2022
Cash flows from operating activities:
Net income	$	88,223		$	74,755
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		39,085			41,405
Share-based compensation		3,830			3,041
Changes in operating assets, liabilities and other		(21,461	)		(15,912	)
Net cash provided by operating activities		109,677			103,289
Cash flows from investing activities:
Purchases of property, plant and equipment		(57,728	)		(34,809	)
Purchases of available-for-sale debt securities		(9,837	)		0
Proceeds from maturity of available-for-sale debt securities		4,000			0
Government incentives		1,393			1,394
Other		(88	)		(199	)
Net cash used in investing activities		(62,260	)		(33,614	)
Cash flows from financing activities:
Repayments of debt		(14,720	)		(27,571	)
Purchases of treasury stock		-			(2,522	)
Contributions from noncontrolling interest		-			24,995
Proceeds from share-based arrangements		730			4,384
Net settlements of restricted stock awards		(1,252	)		(1,452	)
Net cash used in financing activities		(15,242	)		(2,166	)
Effects of exchange rate changes on cash, cash equivalents, and restricted cash		15,621			(14,917	)
Net increase in cash, cash equivalents, and restricted cash		47,796			52,592
Cash, cash equivalents, and restricted cash, beginning of period		322,409			279,680
Cash, cash equivalents, and restricted cash, end of period	$	370,205		$	332,272