Malee Group Public Company Limited and Its Subsidiaries Management Discussion and Analysis For the Second Quarter and Six-Month Period Ended 30 June 2018 1. Q2/2018 Highlights Figure 1: Quarterly

the year ended 31 December 2017 and 2018 was THB 580.91 million and THB 510.49 million respectively. This is equivalent to a modest decline of 12.12% compared to the same period last year. This figure

elimination of Intra-company 3Core EBITDA is Reported EBITDA less Inventory gains/(losses) Indorama Ventures 2018 MD&A 13 Figure 1: Regional Performance 2018 Performance Analysis Integrated PET (PX, PTA, PET

same period last year. This figure shows that the Company significantly cut on sales expenses from the previous year according to the drop in sales revenue. However, sales expenses to sales revenue ratio

by 4.8% from the same period of previous year; where China alone had crude steel production for June 2017 was 73.2 million tons, as top rank of the world, increase by 5.7% compared to June 2016. The

2016. The region with most production was Asia (including China, but not including the Middle East) 876.3 million tons, an increase by 5.6% from the same period of previous year; where China alone had

most production in 2017 was Asia (including China, but not including the Middle East) 1,162.5 million tons; where China alone had crude steel production for 2017 was 831.7 million tons, as top rank of

% compared to 2016. The region with most production in 2017 was Asia (including China, but not including the Middle East) 1,162.5 million tons; where China alone had crude steel production for 2017 was 831.7

tons, significant increase by 4.6% compared to 2017. The region with most production in 2018 was Asia (including China, but not including the Middle East) 1,271.1 million tons; where China alone had

Middle East) 1,271.1 million tons; where China alone had crude steel production for 2018 was 928.3 million tons, as top rank of the world, increase by 6.6% compared to 2017. The second and Third most