Metev Case in Equity Topic Test

Hi guys

A quick question on Metev Case in CFAI’s Equity Topic Test. For Question 3, the answer says EBITDA overestimates cash flow from operations if working capital is growing. Why so?

Thanks.

Discussed here

http://www.analystforum.com/forums/cfa-forums/cfa-level-ii-forum/91333103

Thanks for directing me to the post, it’s quite useful discussion!