IVL as a whole in 2019. o Sharp decline in crude prices (high of $ 83/bbl in 3Q18 versus low of 54/bbl in 4Q18) as we entered in to the weak season led to accelerated destocking in the integrated PET

Thailand’s overall economic growth accelerated, the benefits of growth were not distributed equally among sectors. Consequently, commercial banks were limited in their ability to increase their lending. At the

: • Steam sales volume of Rayong Central Utility Plants (CUP) decreased. • Revenue and cost of electricity and steam accelerated in parallel to the increase in natural gas price, where Ft rate slightly