-ups in Egypt and Portugal and significantly higher crude oil environment. Indorama Ventures 3rd Quarter 2018 MD&A 4 Strategic Progress Structural Change in Industry and IVL initiatives 2018-2019

global economic slowdown, the coronavirus disease (COVID-19) pandemic severely affects the tourism industry. The World Tourism Organization has assessed the likely impact of the COVID-19 that international

to earn a premium to industry benchmark in this over-supplied region. Given IVL’s vast geographical footprint, its integrated business model, its proven ability to benefit from local market dynamics

first 9 months 2018, the overall global aviation industry continued to grow in terms of passenger traffic and travel demand. However, the growth had declined from the same period last year. The main

benefits which has increased from the market transition to Low Sulphur Fuel Oil for the shipping industry (Sulphur content not exceeding 0.5%) under the IMO mandate which will be in effect from 2020 onwards

Telecommunications Limited (“SingTel”); and (3) 43.79 percent of the total issued shares held by the minority shareholders of CSL (the “VTO”), in accordance with the Notification of the Capital Market Supervisory

Capital Market Supervisory Board No. TorChor. 20/2551 Re: Rules on Entering into Material Transactions Deemed as Acquisition or Disposal of Assets, and the Notification of the Board of Governors of the

company and/or subsidiary company pursuant to the Notification of Capital Market Supervisory Board Ref. No. TorJor. 20/2551 Subject : Rules for entering into Material Transaction Deemed as Acquisition of

listed company and/or subsidiary company pursuant to the Notification of Capital Market Supervisory Board Ref. No. TorJor. 20/2551 Subject : Rules for entering into Material Transaction Deemed as

economic slowdown. According to the Bank of Thailand data, at the end of December 2019, the credit card industry reported the total numbers of credit card industry amounted to 23.6 million cards, has grown