, Structural Improvements, Enhanced Portfolio, New Investment Strategy In 2018:  Revenue $10.7 billion, +27% YoY  Core EBITDA of $1.4 billion, +44% YoY, Core EBITDA margin 13%  Net Profit (after Tax/NCI) of

will be allowed to make investment without individual investment limit, similar to institutional investor, venture capital business, and private equity trust. Qualified /angel investor will be defined

Ventures 1st Quarter 2019 MD&A 1 Indorama Ventures Public Company Ltd Management Discussion and Analysis 1st Quarter 2019 Highlights  Revenue $3.0 billion (THB 95.8 billion), +26% YoY  Core EBITDA of $304

Indorama Ventures 1st Quarter 2019 MD&A 1 Indorama Ventures Public Company Ltd Management Discussion and Analysis 1st Quarter 2019 Highlights  Revenue $3.0 billion (THB 95.8 billion), +26% YoY  Core EBITDA

’ Life Platform of Choice”, we have upgraded our capability in data compilation and analytics, allowing us to understand and anticipate each individual customer’s needs under the “Segment of One” while

maintained its growth momentum. Similarly, Thailand’s major economic indicators continued to exhibit growth, as evidenced by brighter exports, government spending and private spending on certain items of

e-Wallets.  High Net Worth Individual Through our KBank Private Banking service, we were determined to act as a well-versed advisor for High Net Worth Individual clients in matters of saving and

economy, supported by increased stability, government stimulus, and tourism recovery, despite weaker consumer sentiment, lower private investment, and flood. AIS reported core service revenue of Bt40,799mn

phishing drill in order to effectively cope with fraudulent practices targeting customers’ personal information via internet and email. 10 3. Business Directions and Operations of Core Businesses 3.1

1 Forth Smart Service Public Company Limited (FSMART) FY18 Management Discussion and Analysis Operational Summary in FY18 2018 Operational Summary  Total revenue from core business was Bt3,339mn