Companies; (2) “securities” means any securities which are not debt instruments or investment units; (3) “securities company” means a company licensed to undertake securities business in the category of

Funds to finance the Tender Offer In the event that all shareholders express their intention to sell all of their shares of the Business pursuant to the Tender Offer, the Tender Offeror shall make the

: +662 661 6664 1 3Q19 IVL Performance Summary IVL reported 3.3 mmt of production volume (5% organic and 18% inorganic growth yoy). Organic growth reinforces the demand growth in our business. Inorganic

FY21 MD&A Advanced Info Service Plc. Executive Summary Maintained leadership in mobile business The COVID-19 has induced an economic slowdown and limited business activities, affecting weak consumer

Equity Branches at Period End (1) (Branch) 101 129 Number of Franchise Branches at Period End (Branch) 136 146 Sales from Restaurant Business During the Period (THB Mn) 1,336.1 1,345.3 Same-Store Sales

future. Business wise H1 2019 was challenging particularly in the most recent quarter. Business sentiment in multiple industrial segments important to us has been impacted by the macro economy and the

% 31% SG&A 51.73 44.75 6.98 16% EBITDA 67.69 50.15 17.54 35% EBITDA margin 23% 22% Depreciation and amortization 31.94 21.36 10.58 50% EBIT 35.76 28.79 6.97 24% Finance cost -5.22 -0.73 4.49 611% Income

. Finance cost The Company and subsidiary had total finance cost of Baht 244 million which decreased by Baht 52 million or 18% YoY. Total finance cost decreased post DE Conversion program in Dec19 partly

Restaurant Business During the Period (THB Mn) 2,020.0 2,046.5 Same-Store Sales Growth: SSSG (%) (2) 7.4% -5.3% Growth of Revenue from Restaurant Business (%) 19.7% 1.3% Remark: (1) Outlets owned by the Group

pipeline into 2019 Indorama Ventures 3rd Quarter 2018 MD&A 2 3Q 2018 Summary Financials Table 1: Core Financials of Consolidated Business Quarterly Last Twelve Months $m 3Q18 2Q18 3Q17 3Q18 YoY LTM 3Q18 LTM