structural change in the business outlook of PET, and is an oppor- tunity for well-managed and committed PET producers like IVL to align supply reliability to customers. We benefitted from the instability

structural change in the business outlook of PET, and is an oppor- tunity for well-managed and committed PET producers like IVL to align supply reliability to customers. We benefitted from the instability

reduction of risks of the loss arising from instability of utility systems for the industrial users. 7.5 The Company will be able to effectively improve the overall operating performance (operation synergy

reduction of risks of the loss arising from instability of utility systems for the industrial users. 7.5 The Company will be able to effectively improve the overall operating performance (operation synergy

areas in which the Company provides services, resulting in the reduction of risks of the loss arising from instability of utility systems for the industrial users. 7.5 The Company will be able to

political, economic and currency risks and differences in accounting methods. Investing in emerging markets may entail special risks relating to potential economic, political or social instability and the

centre of its changing organisational environment Credit Suisse ESG Research, APAC4 Modern slavery Regional instability / migration Demographic shifts: e.g. population aging; Millennials Widening income

1 (-Translation-) Ref. No. IRS.025/2019 October 31, 2019 Subject Acquisition of Shares in Hello Bangkok LED Co, Ltd., which is an Assets Acquisition Transaction of the Company, Issuance and Offering of the Newly Issued Ordinary Shares of the Company through a Private Placement which is a Connected Transaction, Capital Reduction, Capital Increase, Entering into the Right to Sell Advertising Media Agreement which is a Connected Transaction, Appointment of the Independent Financial Advisor and Call...

1 (-Translation-) Ref. No. IRS.025/2019 October 31, 2019 Subject Acquisition of Shares in Hello Bangkok LED Co, Ltd., which is an Assets Acquisition Transaction of the Company, Issuance and Offering of the Newly Issued Ordinary Shares of the Company through a Private Placement which is a Connected Transaction, Capital Reduction, Capital Increase, Entering into the Right to Sell Advertising Media Agreement which is a Connected Transaction, Appointment of the Independent Financial Advisor and Call...

1 (-Translation-) Ref. No. IRS.025/2019 October 31, 2019 Subject Acquisition of Shares in Hello Bangkok LED Co, Ltd., which is an Assets Acquisition Transaction of the Company, Issuance and Offering of the Newly Issued Ordinary Shares of the Company through a Private Placement which is a Connected Transaction, Capital Reduction, Capital Increase, Entering into the Right to Sell Advertising Media Agreement which is a Connected Transaction, Appointment of the Independent Financial Advisor and Call...