) 2661-6664 2 INDORAMA VENTURES PUBLIC CO., LTD (SET: “IVL”) MANAGEMENT DISCUSSION AND ANALYSIS (MD&A) FOR THE PERIOD OF 3Q 2017 (CONSOLIDATED) Table 1: Financial Summary - Core Financials of Consolidated
LTM 3Q18 Revenue $10.1 billion, +24% YoY, Core EBITDA margin 13.7% Core EBITDA of $409m in 3Q18, +40% YoY; $1,379m LTM 3Q18 (45% YoY) LTM 3Q18 Core EPS THB 4.49, +65% post 11.1% dilution from
reference. The SEC, Thailand can neither undertake any responsibility for its accuracy, nor be held liable for any loss or damages arising from or related to its use. ---------------------- Notification of
translation is strictly for reference. 6 Notification of the Capital Market Supervisory Board No. TorThor. 23/2553 Re: Rules for Undertaking Derivatives Business for Licensed Derivatives Dealers By
translation is strictly for reference. Notification of the Capital Market Supervisory Board No. TorThor. 23/2553 Re: Rules for Undertaking Derivatives Business for Licensed Derivatives Dealers By virtue of
Ventures 2nd Quarter 2018 MD&A 1 Indorama Ventures Public Company Ltd Management Discussion and Analysis 2nd Quarter 2018 Structural Improvements Driving Earnings Momentum 2Q18 Core EBITDA up 63% YoY, 1H18
Cathleen Maleenont, who is the director and the major shareholder of the Company (“Transaction”). The disposal of shares of TSE pursuant to the Notification of Capital Market Supervisory Board No. Tor. Jor
reference. Notification of the Capital Market Supervisory Board No. Tor Thor. 1/2560 Re: Provision of Services to Clients regarding Investment in Capital Market Products Denominated in Foreign Currency
Commission Notification of the Securities and Exchange Commission No. Kor Thor. 65/2547 Re: Rules for Undertaking Derivatives Business for Licensed Derivatives Broker _____________ By virtue of Section 9 and