us to continue to sell at all times and create a steady stream of operating cash flows. 1Q 2020 Summary Financials Table 1: Core Financials of Consolidated Business $million (except where stated

2017. TRIS Rating, an associate of S&P in Thailand has affirmed the Company’s rating of “A+” and revised upwards its outlook to ‘Positive’ from an earlier ‘Stable’. From a performance perspective, this

changes over the past few years. Traditional media such as television, newspaper, magazine and radio has been in steady decline, while Out-of-Home (“OOH”) and online/digital media have become the go-to

strategic integration. Our diversified portfolio provides an earnings mix that combines the higher-volume Necessities (80% of 2Q 2018 LTM volume), now with improving margins, and stable-margins HVA business

warrants exercise  LTM 3Q18 Operating Cash Flow of $1,037 million  Net Operating D/E ratio 0.53x; Rating Upgrade to AA- with “Stable Outlook”  2019 Guidance reaffirmed; attractive and accretive production

per ton (YoY) in an otherwise strong season. Figure 1: IVL Quarterly Core EBITDA (LTM) The steady improvement seen in IVL’s core earn- ings follows on from IVL’s consistent strategy of prudent

using the company’s engineering knowledge to be used in creating new products and services. 8.2 A source of long steady stream of revenue with low risk. The management of the company is expecting to start

integration of acquired businesses, the start of earning recovery in our high-volume Necessities business and our stable but higher-margin HVA business. We delivered record earnings and cash flows and expect

accommodate domestic economic activity, which is continuing along a stable recovery path. 1.2 Banking Industry, Competition and Emerging Risks  Banking Industry and Competition Commercial banks’ overall

Page 1 of 4 Form 69 – CIS material update Checklist for Registration Statement for an offer for sale of units of foreign collective investment scheme Form 69 – CIS material update [ ] 1. The Update