cash flow from operating activities. Since there are various calculation methods, its presentation may not be comparable to similarly titled measures used by other companies. (3) Comprises of total
positively to the growth in EBITDA in 2019. As highlighted in the 2019 Capital Market Day presentation, IVL foresees the ability to invest $3 to 4 billion of projected free cash flow over the next 3-4 years
of which are contributing positively to the growth in EBITDA in 2019. As highlighted in the 2019 Capital Market Day presentation, IVL foresees the ability to invest $3 to 4 billion of projected free
performance measure or as an alternative to cash flow from operating activities. Since there are various calculation methods, its presentation may not be comparable to similarly titled measures used by other
billion In the beginning of 2018 we provided a strategic update for the company as part of 4Q17 and FY2017 results presentation. Based on our, then, view on business environment and ongoing projects, we saw
activities. Since there are various calculation methods, its presentation may not be comparable to similarly titled measures used by other companies. (3) Comprises of total revenue net dividend income, gain on
from operating activities. Since there are various calculation methods, its presentation may not be comparable to similarly titled measures used by other companies. (3) Deduct loss on foreign exchange (4