driven by lower industry-wide Integrated PET spreads. Going forward, management will focus on cost management initiatives, drive operational excellence, and working capital optimization in parallel with

N.A.(>100) N.A.(>100) - 2.2 N.A.(>100) Other income 1.8 0.9 3.0 233.3% 66.7% 26.9 176.9 557.6% Profit before expenses 420.8 388.3 505.9 30.3% 20.2% 1,144.6 1,607.3 40.4% Gain (loss) on forward contracts

next wave of growth in the Americas 2018 Corpus Christi (1/3 ownership in JV)  Significant step forward in IVL value- creating strategy underpinning strong growth momentum  Creates new and exciting

-2023 PET: 367 kta PTA: 433 kta Double digit ROCE 700-800 (till Dec’19: 381) Recycling projects PET recycling 2020-2023 ~600kta ROCE 12-14% 700-800 9 IVL Strategic Priorities Going Forward IVL remains

Quarter 2020 MD&A 8 IVL Strategic Priorities Going Forward IVL remains focused on its financial objective for 2023 - to achieve double-digit ROCE in each of its core businesses; top decile total shareholder

 Working capital and inventory management IVL Strategic Priorities Going Forward IVL remains focused on its financial objective for 2023 - to achieve double-digit ROCE in each of its core businesses; top

55.98% and 56.10% respectively which is resulting from the proper management of manpower at stores and back office including the better results from the process improvement project and more staff training

of lower property development operations selling expenses.  Administrative expenses decreased by Baht 71 million due mainly to a decrease in staff costs, loss on exchange rate, training & recruitment

https://www.sec.or.th/TH/Pages/AboutUs/HR-ManagePolicy-Operation-2565.aspx Thai HR-ManagePolicy-operation-2566-Q1 Training) เพื่อพัฒนาความรู้ด้านสินทรัพย์ดิจิทัล ให้แก่ผู้ที่ปฏิบัติงานด้านกำกับดูแล

institution, insurance, construction, digital assets) obtain/maintain the required specialist knowledge? Does the firm have special training/or tailor-made programs for specific client industries? 15 Do the