-1- AIT (VP-SEC) 013E/2018 May 8, 2018 Subject: Management's Discussion and Analysis of Operating Results for Q1-2018 To: The President of The Stock Exchange of Thailand Summary of Operations Q3

- 1 - AIT (VP-SEC) 024E/2019 August 8, 2019 Subject: Management's Discussion and Analysis of Operating Results for Q2-2019 To: The President of The Stock Exchange of Thailand Summary of Operations Q2

however. With respect to our overseas operations, China has had a very strong year. In fact, this year has been the best performing year of our Chinese Subsidiary. Portugal, however, reported a volume

contribution from our subsidiaries outside Thailand. Revenue from Portugal operations increased slightly by 3.7%. China recorded a strong revenue growth of 24.3%. The company also recorded increase in revenue

CAPEX plan are carried out to maintain sufficient cash flow and liquidity to support ongoing operations Temporary closure of 34 shopping malls to control the COVID-19 outbreak. As per announcement of

- Translation - Management Discussion and Analysis for Interim Business Operations ผลการดําเนินงานสําหรับงวด 3 เดือน สินสุดวันที 30 มิถุนายน 2560 ( หน่วย : ล้านบาท ) 2560 2559 เพิม/(ลด) % รายได้จาก

growing by 16.30mb or 9.7% and recurring revenue from Financial Solutions increasing by 4.77mb or 16.5% . However, the growth in recurring revenue was partially offset by the reduction in non-recurring

growing by 18.46mb or 11.1% and recurring revenue from Financial Solutions increasing by 4.82mb or 16.7% . However, the growth in recurring revenue was partially offset by the reduction in non-recurring

to a 20% reduction in IVL’s core EBITDA. Operating cash flow through this period increased by 33% to $1.3B, as a result of lower prices and operational excellence. IVL has proposed a dividend of

fiscal standing through the implementation of relief measures to help sustain crisis-hit businesses and cash-strapped workers, after many businesses were ordered to suspend operations in line with the