benefit from structurally improving margins and capturing the volume opportunities. IVL has achieved notable progress on multiple strategic fronts and is increasingly well positioned to deliver sustainable

-ups in Egypt and Portugal and significantly higher crude oil environment. Indorama Ventures 3rd Quarter 2018 MD&A 4 Strategic Progress Structural Change in Industry and IVL initiatives 2018-2019

to suit the changing environment, is committed to support its tenants and business partners to ensure their viability in this situation, as well as progress with its cost reduction initiatives, to

committed to support its tenants and business partners to ensure their viability in this situation, as well as progress with its cost reduction initiatives, to mitigate the impact of the absence of revenue

well as progress with its cost reduction initiatives, to mitigate the impact of the absence of revenue towards its profitability performance in the best possible manner. Five-Year Business Plan The

land with notice of offer to purchase”) at the price of THB 924.90 million. Whereas the Company desires to sell the land with notice of offer to purchase in order to use the acquired cash to develop its

reserved for financial management. Furthermore, a committee of Innovation Continuity Task Force was set up to brainstorm ideas from employees in order to further develop the incumbent business or devise ways

Remuneration Committee is in the process of nomination of a qualified and appropriate person to be a director for a vacant position. If there is any progress, the Company shall further inform the shareholders. 2

Page 2 Management Discussion and Analysis 1. Significant events in the first Quarter of 2018 1.1 The progress in construction projects 1.1.1 Process of construction - Xayaburi Project, a project of the

equipments - Land and improvements, building, machinery, office equipments, vehicles and work on progress of construction: As at 31st December and 31st March 2018, the Company and its subsidiaries had Land