due to lower prices. Net debt to equity is at 0.99 times, well below IVL’s covenants, and supported by stronger operating cash flow. The dividend payout of THB 1.225/share for 2019 remains higher than

Net operating debt to equity at 0.61 times with strong operating cash flow. Dividend payout remain much higher than its stated policy of 30% of net profits. Perpetual debenture of THB 15b refinanced at

Baht 1,810 million last year mainly due to waiver of interest of Baht 5,506 from creditors consequent to conversion of the Debt to Equity, Gain from capital reduction in Subsidiary Baht 1,130 million and

offering1. In this regard, the Company shall disclose the following information: (1) Spending of the money obtained from each offering of equity or debt securities2. Spending Objectives Amount of Spent Money

Approval for Offering for Sale of Structured Notes and relevant notifications. - 4 - SEC Classification : ใชภ้ายใน (Internal) (1) Spending of the money obtained from each offering of equity or debt

accordingly (for year 2016: sale volumes and production volumes at 187,043 tons and 189,008 tons in accordingly) - Gain from debt restructuring was achieved of THB 110 million resulting from debt-to- equity

Greater China Investment Project, the Group nevertheless benefits from manufacturing and exporting our products to the People’s Republic of China for marketing for the purpose of further selling and

’ meeting No. 4/2560 held on 25 April 2017 to approve our withdrawal from the Greater China Investment Project, the Group nevertheless benefits from manufacturing and exporting our products to the

our withdrawal from the Greater China Investment Project, the Group nevertheless benefits from manufacturing and exporting our products to the People’s Republic of China for marketing for the purpose of

manufacturing process, rain-storage system, and water system installation and water treatment project, etc. However, when compared with the same period of previous year; it can be proved that there are special