EXHIBIT 5.21A Aritzia Inc.'s 2020 Statements of Cash Flows ARITZIA INC. Consolidated Statements of Cash Flows For the years ended March 1, 2020 and March 3, 2019 (in thousands of Canadian dollars) Operating activities Net income for the year Adjustments for: Note March 1, March 3, 2020 2019 $90,594 $78,728 Depreciation and amortization 6,7,8 93,502 27,065 Finance expense 16 28,319 4,821 Stock-based compensation expense 14 7,790 11,540 Amortization of deferred rent and deferred lease inducements (652) (905) Unrealized foreign exchange loss on forward contracts 12 415 Unrealized gain on equity derivative contracts 12 (650) Other (37) Income tax expense 17 35,544 32,922 Proceeds from lease incentives 11,537 12,148 Cash generated before non-cash working capital balances and interest and income taxes 265,947 166,734 Net change in non-cash working capital balances 21 18,625 (39,616) Cash generated before interest and income taxes 284,572 127,118 Interest paid (4,429) (4,709) Interest paid on lease liabilities Income taxes paid (23,763) (34,304) (26,234) Net cash generated from operating activities 222,076 96,175 Financing activities Repayment of principle on lease liabilities 8 (61,469) (454) Proceeds from options exercised 14 11,627 8,057 Shares repurchased for cancellation 13 (107,560) (9,391) Repayment of long-term debt 11 (43,738) Payment of financing fees 11 (667) Net cash used in financing activities Investing activities Purchase of property and equipment Purchase of intangible assets Net cash used in investing activities Effect of exchange rate changes on cash and cash equivalents (157,402) (46,193) 6 (45,591) (56,425) 7 (2,199) (5,585) (47,790) (62,010) (31) 450 Effect of exchange rate changes on cash and cash equivalents Increase (decrease) in cash and cash equivalents Cash and cash equivalents - Beginning of year Cash and cash equivalents - End of year Supplemental cash flow information (note 21) (31) 450 16,853 (11,578) 100,897 112,475 $117,750 $100,897 EXHIBIT 5.21B Excerpt from Arizia Inc.'s 2020 Annual Report ARITZIA INC. Noted to Consolidated Financial Statements March 1, 2020 and March 3, 2019 (in thousands of Canadian dollars, unless otherwise notes) 21 Supplemental cash flow information Net change in non-cash working capital balances March 1, March 3, 2020 2029 Accounts receivable $ 82 (1,545) Inventory 18,462 (34,457) Prepaid expenses and other current assets (1,351) (1,714) Other assets (2,186) (217) Accounts payable and accrued liabilities (1,444) (6,181) Deferred revenue 5,062 4,498 $18,625 $(39,616) Your answer is correct. In total, how much did Aritzia's cash and cash equivalents change during 2020? Was this an increase or a decrease? (Enter amounts in thousands.) In 2020, Aritzia had a net cash increase of $ 16,853 How did this compare with the previous year? (Enter amounts in thousands.) In 2019, the company had a net cash decrease of $ 11,578 Mi Did Aritzia have net income or a net loss in 2020? How did this compare with the cash flows from operating activities? (Enter amounts in thousands.) In 2020, Aritzia had a of $ For the same period cash flows from operating activities was a amount of $ What was the largest difference between these two amounts? (Enter amounts in thousands.) The difference between these two was primarily due to a of $ net income net loss positive negative deposits from franchisees & change in restricted cash depreciation and amortization gift card liability income taxes inventories other liabilities prepaid expenses and other assets provisions trade and other receivables