Exhibit 99.4

PHOTRONICS,  INC.

Condensed Consolidated Statements of Cash Flows

(in thousands)

(Unaudited)

	Nine Months Ended
	July 30,			July 31,
	2023			2022
Cash flows from operating activities:
Net income	$	136,478		$	123,978
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation and amortization		59,523			61,210
Share-based compensation		5,874			4,623
Changes in operating assets, liabilities and other		(6,319	)		6,110
Net cash provided by operating activities		195,556			195,921
Cash flows from investing activities:
Purchases of property, plant and equipment		(78,813	)		(46,337	)
Purchases of available-for-sale debt securities		(9,837	)		-
Proceeds from maturity of available-for-sale debt securities		22,500			-
Government incentives		2,033			1,394
Other		(116	)		(179	)
Net cash used in investing activities		(64,233	)		(45,122	)
Cash flows from financing activities:
Repayments of debt		(16,351	)		(51,917	)
Purchases of treasury stock		-			(2,522	)
Contributions from noncontrolling interest		-			24,995
Proceeds from share-based arrangements		1,241			5,505
Net settlements of restricted stock awards		(1,292	)		(1,463	)
Net cash used in financing activities		(16,402	)		(25,402	)
Effects of exchange rate changes on cash, cash equivalents, and restricted cash		13,813			(21,308	)
Net increase in cash, cash equivalents, and restricted cash		128,734			104,089
Cash, cash equivalents, and restricted cash, beginning of period		322,409			279,680
Cash, cash equivalents, and restricted cash, end of period	$	451,143		$	383,769