Indorama Ventures PCL

Indorama Ventures' 2023 Advocacy Transparency Report underscores our commitment to transparency and active engagement with lawmakers, policymakers, and industry associations. The report details our efforts to promote plastics recycling, circularity, and support the transition to a low-carbon economy in alignment with the Paris Agreement. At Indorama Ventures, our vision is 'To be a world-class sustainable chemical company producing indispensable chemistry that touches billions of lives every day.' We emphasize the importance of sustainability and climate issues in our operations, impacting customers, suppliers, and stakeholders. This commitment drives our focus on enhancing material circularity and global plastics recycling to achieve long-term climate goals. The program covers all jurisdictions where we have operations.

### INTERNAL GOVERNANCE ON ADVOCACY

#### • Structure of Advocacy Governance

There are multiple internal governing bodies established at Indorama Ventures. Here are the bodies responsible for supervising overall activities related to promotion of our sustainability, and advocacy activities:

|Governance Body Scope of Duties Members|Col2|Col3|
|---|---|---|
|Sustainability and Risk Management Commitet e (SRMC)|The SRMC plays a crucial role in embedding sustainability and risk management into our core operatoi ns, driving value creatoi n, and ensuring we operate responsibly and sustainably. The body consists of senior management from the department of Sustainability, Environment, Health, and Safety (EHS), and Risk Management. Global Head of Advocacy usually informs of legislatvi e changes and matet rs related to global climate policy in the SRMC quarterly meetni gs.|• Group CEO • Deputy Group CEO • Chief Financial Officer • Lead Independent Director • Independent Director • Executive Director • Chief Strategy & Transformation Officer • Executive President – Fibers • Executive President – IOD Business • Business Head – Integrated PET, Americas|
|Indorama Management Council (IMC)|The IMC also plays a strategic and managerial role in overall business operatoi ns globally. The Global Head of Advocacy will provide the key updates on legislatvi e changes, global climate trends, and relevant actvi itei s in the public and private sectors that may impact our business and the industry, inform about significant external engagements, and consult the IMC for approval.|• Group CEO • Deputy Group CEO • Chief Financial Officer • Executive President – IOD Business • Executive President – Fibers • Executive President – CPET • Chief Strategy & Transformation Officer • Chief Human Resources Officer|
|Deputy Group CEO|The deputy Group CEO supervises the overall directoi n of the department, approves the department's annual budget, and is consulted, and reported to, by the Advocacy Department.|-|
|Advocacy Team|Advocacy Team is led by the Global Head and consists Regional Heads for the Europe, the Middle East, and Africa (EMEA), the Americas, and Thailand (Head Office), as well as team members in Mexico and Thailand. Together, we monitor and communicate internally, including reportni g to senior management, about policy and legislatvi e changes at global, regional, and natoi nal levels on a weekly basis, or more frequently if needed. Our advocacy strategies and initai tvi es are discussed and agreed within the department.|• Global Head of Advocacy and Education • Head of Advocacy, Americas • Advocacy Coordinator, Mexico • Head of Advocacy, EMEA • Head of Advocacy, Thailand (Head Office) • Advocacy Coordinator, Thailand|

#### • Structure of Advocacy Team

The Advocacy Team is responsible for promoting and representing the organization's interests to policymakers, stakeholders, and the public. This includes strategically advocating for evidence-based and inclusive legislation, building relationships with key influencers, conducting research and analysis to support policy positions, coordinating public campaigns, and ensuring the company's voice is heard in relevant policy debates and discussions.

Our team comprises of dedicated members with diverse regional expertise, in-depth knowledge of the public policy landscape, and professional experiences as follows:

|Team Member Scope of Dutei s|Col2|
|---|---|
|Global Head of Advocacy and Education|‒ Represent the company at global events to communicate our messages and positoi ns to the public ‒ Report to senior management legislatvi e changes and issues that may impact our business and industry globally ‒ Supervise the overall work directoi n and actoi n plan of the Advocacy department ‒ Manage and approve the team's budget spending|
|Regional Heads 1. Head of Advocacy, Americas 2. Head of Advocacy, EMEA 3. Head of Advocacy, Thailand|‒ Monitor and assess the legislatvi e and policy changes in each region and communicate internally with the team ‒ Engage with stakeholders, policymakers, NGOs, trade associatoi ns, and other key players at local level ‒ Build up and maintain positvi e relatoi nships with key players in the public and private sectors ‒ Represent the company at meetni gs and events as appropriate ‒ Report and communicate internally on regional-specific issues that may impact the company|
|Advocacy Coordinator|‒ Coordinate and communicate internally and externally ‒ Monitor and analyze policy developments related to business priority areas globally ‒ Research, and report on legislatvi e changes, politci al and governmental actvi itei s ‒ Facilitate overall advocacy actvi itei s and initai tvi es ‒ Support the team on presentatoi ns, reports, budget tracking, etc.|

### PRINCIPLES FOR RESPONSIBLE ADVOCACY

1. **Legal and Regulatory Compliance: We are actively working to ensure that our activities**

adhere to all relevant national and international laws, regulations, and ethical standards
governing advocacy and lobbying activities. This includes anti-corruption laws, advocacy
disclosure requirements, and other relevant regulations.

2. **Transparency: Advocacy activities will be presented in our advocacy transparency report**

annually, with clear disclosure. Our advocacy activities in the report will be publicly
disclosed on the company website to ensure that this information is available to our
investors, stakeholders, and the public.

3. **Fairness and Respect: Our employees and third-party lobbyists should engage with**

policymakers and stakeholders respectfully and fairly, avoiding undue influence or
pressure. This includes recognizing and addressing conflicts of interest.

4. **Social Responsibility: "Customer is why we exist" is one of our core values. To be a**

responsible business, we are committed to doing things the right way: economically,
socially, and environmentally - with health and safety at the heart of what we do. As a
result, our advocacy efforts also consider the broader social and environmental impacts,
promoting policies that contribute to the public good and sustainable development.

5. **Collaboration and Inclusiveness: Engaging a diverse range of stakeholders, including those**

who may be affected by the outcomes of advocacy efforts, ensures a more balanced and
inclusive approach. This involves seeking input from like-minded and different businesses
in the industry and coalitions. We respect all the opinions from stakeholders, and, at the
same time, we also communicate our positions and rationale while advocating for the
most practical policies and instruments taking economic incentives and existing challenges
into account.

### CRITERIA FOR PARTICIPATION

Our involvement in external organizations aligns with Indorama Ventures' strategic
objectives, supports our sustainability goals, and maximizes the impact of our participation.
When considering participation in, or sponsorship of, any organization, including trade
associations and non-governmental organizations, here are the criteria we consider:

1. **Alignment with Our Positions and Global Climate Goals: The organization's public**

positions on global climate issues must align with our own position and the goals
outlined in the Paris Agreement. We assess whether the organization advocates for, or
contributes to, critical topics such as the green transition, net-zero targets, material
circularity, plastics collection and recycling, and Extended Producer Responsibility.

2. **Relevance to Our Business: We consider the potential impact of the organization's**

activities on our business, ensuring relevance to our industry and operations. Most
associations and coalitions where we are engaged were established for recycling
businesses, plastics manufacturers, and packaging producers.

3. **Infuence on Lawmakers and Policymakersl** : We strive to study and evaluate the

organization's ability to inform and educate decisionmakers, determining how
effectively it can advocate for issues that are pertinent to our business and global
climate objectives. Their non-professional and professional connections with key
stakeholders are also included in our evaluation.

4. **Public Engagement: The presence and actions of how the organization communicates**

with targeted audiences and the public on issues related to our business and the global
climate are also taken into consideration.

5. **Cost of Participatoni** : We review the costs associated with participation, including

membership or sponsorship fees, and the terms of payment, whether they are onceoff, quarterly, or annually.

### MEASURES FOR MISALIGNMENT

We are working to identify potential misalignments with our trade associations and
chambers of commerce. However, we are committed to rigorously monitoring these
associations to identify misalignment in time. By creating the measures for misalignment,
Indorama Ventures is dedicated to ensuring that our participation in trade associations
consistently aligns with the Paris Agreement, and the company's goals and commitment to
sustainability. If misalignment is identified, we will employ the following measures:

#### • Escalation Process

1. **Initial Review: Conduct an initial assessment to identify specific areas of**

misalignment.
2. **Dialogue: Engage in discussions with the association to address concerns, providing**

clear feedback and expectations for alignment.
3. **Timeline for Actoni** : Establish a timeline for the association to make necessary

adjustments, typically within a defined period (e.g., 3-6 months).
4. **Progress Monitoring: Regularly monitor the association's progress and maintain**

open communication to ensure corrective actions are being implemented.
**5.** **Escalation: If the association fails to address the misalignment within the agreed**

timeline, escalate the issue to higher levels of management within both
organizations, outlining potential consequences.

#### • Leaving Trade Associations

1. **Final Review: Conduct a final review to confirm ongoing misalignment and evaluate**

the impact of continued membership.
2. **Decision Making: If misalignment persists, present findings and recommendations to**

Indorama Ventures' senior management for a final decision.
3. **Formal Notifcati** **ion: Provide formal notification to the trade association of our**

intention to withdraw membership, citing specific reasons related to misalignment.
4. **Transition Plan: Develop a transition plan to manage the exit process smoothly,**

ensuring minimal disruption to ongoing operations and stakeholder relationships.

The board of directors plays a crucial role in climate governance by ensuring that the decarbonization strategies of the company is integrated and aligned with the overall business strategy. The board meets on a quarterly basis where climate-related issue are discussed. Three sub-committees are appointed by the board: Sustainability and Risk Management Committee (SRMC), Nomination, Compensation, and Corporate Governance Committee (NCCG), and the Audit Committee. The SRMC approves and reviews the implementation of sustainability strategies, monitors physical and transitional risks, and reviews risk mitigation plans and scenario analyses. Meeting quarterly, the SRMC is chaired by the Group CEO and includes the Deputy Group CEO and Chief Financial Officer, Chief Strategy and Transformation Officer, Chairman of the ESG Council, two independent directors, executive president of three business segments (CPET, Fibers, and Indovinya). The nine members of the SRMC work with all key functions of the organization including Advocacy, Risk Management, Strategy, Environment, Health & Safety (EHS), and Sustainability, reflecting the broad and multidisciplinary nature of sustainability. More [information on the SRMC is available here.](https://sustainability.indoramaventures.com/en/our-sustainability/sustainability-governing-structure) [...] ESG council is a governing body which sets and advocates high level policy and strategy on ESG matters for Indorama Ventures. It consists of 15 senior leaders across different functions to discuss the implementation of key ESG programs. Environmental and climate issues are discussed quarterly to determine the appropriate solutions to navigate [...] The MEC has the responsibility to execute and roll out sustainability initiatives in Indorama Ventures' operating sites. The council consists of 7 senior executives from different departments to steer concerted efforts towards more climate sustainable manufacturing. In addition, the MEC also appoints the Decarbonization Committee, which is tasked to identify available technological opportunities, assess financial investment costs for transition, and implement Green Projects to lower Indorama Ventures climate footprint. In 2021, the Decarbonization Committee published a "decarb" playbook, which is a document that details the key technological options for Indorama Ventures sites to reduce greenhouse gas emissions and optimize energy consumption.

IVL is an active member of the American Chemistry Council (ACC) and our GCEO, Mr. Aloke Lohia, is on the ACC board, which focuses on setting organizational policies, approving the budget, determining advocacy priorities, and providing overall strategic direction for ACC. This forum focuses on sustainability, energy, process safety, product stewardship, and security and provides a platform from which to collaboratively address environmental and social concerns. We continue to provide insights and advocacy on key issues through our involvement in these ACC committees which help protect and ensure greater sustainability of our integrated US supply chains. [...] The SRMC, which oversees sustainability governance, guides IVL's journey to further embed sustainability considerations in our business. As the organization's second highest authority on sustainability, the SRMC reports directly to the Board ensuring that this priority is integral in the day-to-day business decisions across our operations and the SRMC Charter is being observed. [...] Formation of the ESG Council In 2021, the Indorama Management Council (IMC) established the ESG Council, a new sustainability advisory committee whose purview covers sustainability-related environmental, social and governance aspects. The ESG Council is a valuable addition to our efforts to strengthen our sustainability capabilities and performance. The Council is also required to provide guidance, utilizing the expertise of its members, in performing its assigned duties and is composed of designated multi-functional senior executives who are experienced in sustainability issues and meet on a quarterly basis.

Our directors and management keep abreast of all developments and updates on Climate Change. They educate themselves and also through attending high profile conferences such as World Economic Forum, conferences, seminars. Further, the Sustainability Department, Climate Strategy team, Business Heads, internal subject matter experts keep updating the management on industry trends, emerging risks, new regulations and various other issues that could impact the business operations in long term and short term.

They also regularly approve, supervise the conduct of the company's engagement in industry and public policy making, maintain its awareness about good climate-governance practices and encourage climate dialogue and methodology sharing among industry peers, investors, regulators and other stakeholders.

Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]By adhering to IVL's climate change strategy and to align IVL's target to keep global temperature well below 1.5 degree Celsius. IVL has given SBTi commitment in May,2022 and get a two years span to set a target and get it approved.
IVL has a publicly reported climate strategy with our targets including our actions to mitigate climate change risks and innovate to find solutions.

For example, our association with WEF to explore new ERA "How sustainability will drive growth in the packaging industry" and the coming decade will see collection of post-consumer beverage bottles reach close to 100%. Recycling is critical to our sustainable future as it delivers fewer greenhouse gases and less waste.

Lastly our collaboration with other trade association is to curb plastic pollutions.

Does your organization have a public commitment or position statement to conduct your engagement activities in line with the goals of the Paris Agreement?[…]Yes