statements speak only as at the date of this presentation, and the Company does not undertake any duty or obligation to supplement, amend, update or revise any such statements. The Company does not make any
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) Comprises of total
any other 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
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
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