; (3) the applicant has or will have an operating system which is fit and proper for operating as a REIT manager and at least provide the systems as stipulated in Clause 21; (4) the applicant has or will

Narathiwat province or in one of the 4 districts in Songkla province (Chana, Thepa, Saba Yoi, Na thawi) with targeted capacity of 8 megawatts under Feed in Tariff (FiT) scheme. Competitive bidding system is

(118 MW – Adder 8 THB ) 61.52 64.53 63.58 3% -1% Cooperative Solar (12 MW – FIT 5.66 THB) 4.51 4.89 4.49 -0.5% -8% Government Solar (8.94 MW – FIT 4.12 THB) N/A 3.55 3.54 N/A -0.3% Solar rooftop (0.80 MW

THB ) 60.69 61.77 57.08 -6% -8% 186.70 180.37 -3% Cooperative Solar (12 MW – FIT 5.66 THB) 4.69 4.92 4.52 -4% -8% 12.75 13.96 9% Government Solar (8.94 MW – FIT 4.12 THB) N/A N/A 2.65 N/A N/A N/A 2.65 N

: Acquisitions Announced but not Yet Completed Acquisition Strategic Rationale Timelines DuPont Teijin Films  Attractive HVA BOPET film segment  Strategic fit with synergies and value creation potential  Strong

complete by 1Q20. Adjusted EBITDA in IVL definition for these assets for 3Q19 is US$122M and LTM3Q19 is US$360M. The acquisition strategically fit with IVL’s US gas cracker and oxides investment as it

acquisition of Spindletop and startup of Lake Charles cracker did not provide us the typical earnings which we had built in our business case. Our strong balance sheet and the strategic fit of these gas based

- tions making it a leading fiber partner for the automotive industry. The recent acquisition of Glanzstoff provides a strategic fit to the automotive segment in the HVA portfolio.  Final phase of the

historical are restated accordingly Strategic fit 10  EMEA contributed 36% of the Company’s core EBITDA.  On a LTM basis, produc- tion in EMEA has increased as a result of the full year benefit of PTA, IPA

E_1 Legal_FA_2015_12_29-c A WWCCoorrppLL44..11hhiigg A Executive Summary 1 Management Discussion and Analysis For the Year Ended December 31, 2017 In 2017, Thai economic growth gained traction, buoyed by strong recoveries in tourism and exports. This growth momentum is expected to carry on into 2018, especially amid a brighter outlook in public and private investment. Nonetheless, the business sector remained challenged by new modes of competition in a broader marketplace amid the advancing digi...