before date of lodgment of registration statement. E. Subordination and Limitation of Rights 1. The ability of debt securities holders to enforce their rights as creditors of the issuer depends on whether

Limitation of Rights 1. The ability of debt securities holders to enforce their rights as creditors of the issuer depends on whether other security holders or creditors have claims that would be viewed as

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

be taken by all other creditors such as ACO I so it was limitation for the Company to procure funding sources from loan from financial institution to be used for business operation. Currently, the

insurance company under the law on life insurance; and (4) a financial institutions established under a specific law. Clause 4.7 Without the limitation or restriction to the power of the Board of directors of

the limitation of dividend payment. 10. Opinion of the Company’s Board of Directors Concerning the Transaction The Board of Directors unanimously approved the transaction due to its consideration and

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

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