Indorama Ventures 1st Quarter 2018 MD&A 2 1Q 2018 Summary Financials Table 1: Core Financials of Consolidated Business Quarterly Last Twelve Months $m 1Q18 4Q17 1Q17 1Q18 YoY LTM 1Q18 LTM 1Q17 LTM YoY

shutdown. Additionally, the company incurred opportunity loss due to loss in production and sale.  The production and sale volume recorded during the Quarter is summarized in below table: 1st Quarter 2019

and trust in supporting the Company’s business. 3. Management’s Message Management’s Discussion and Analysis (MD&A) for year 2017 4 Overview of World Steel Industry Chart of world crude steel production

World Steel Industry Chart of world crude steel production monthly, ending 31 December 2017 Source: World Steel Association According to the World Steel Association’s report on world crude steel

weak Core EBITDA down 37% YoY Volume growth 2% year-on-year (YoY) 2 cracker in the USA has also been completed and commenced operations on Jan 31st 2020. 2019 Summary Financials Table 1: Core Financials

. Management’s Message 4 G J Steel Public Limited Management’s Discussion and Analysis (MD&A) for year 2018 Overview of World Steel Industry Chart of world crude steel production monthly, ending 31 December 2018

positive at Baht 612 million in 2018. 3. Management’s Message 3 G J Steel Public Limited Management’s Discussion and Analysis (MD&A) for year 2018 (Revised) Overview of World Steel Industry Chart of world

Income as of 2018 to 2017 per following table: (THB) Million 2018 2017 % Change Total Revenues 538.96 559.95 (3.75) Total Expenses 488.86 501.54 (2.53) Shares of Profits 26.72 47.22 (43.41) EBT 76.82

Income for the year 2019 per following table: (THB) Million 2019 2018 Change %Change Total Revenues 531.73 538.96 (7.23) (1) Total Expenses (497.06) (488.86) 8.20 2 Shares of Profits (Loss) (46.23) 26.72

etc. 3. Table summarizing financial status and performance of IPO shares, before and after getting listed on the Exchange.  Further information as well as instructions for accessing the “IPO Fact Figure