(0) 2661-6664 2 INDORAMA VENTURES PUBLIC CO., LTD (SET: “IVL”) MANAGEMENT DISCUSSION AND ANALYSIS (MD&A) FOR THE YEAR ENDED DECEMBER 31, 2017 (CONSOLIDATED) Table 1: Financial Summary - Core Financials

Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 1 of 15 Executive Summary CPN’s revenues continues to grow according to its business plan. In 1Q19, the Thai

Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 1 of 14 Executive Summary CPN’s revenues continues to grow primarily from strong shopping mall performance

Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 1 of 16 Executive Summary The Company implemented proactive measures to timely manage the situation rapidly

Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 1 of 15 Executive Summary The Company implemented proactive measures to timely manage the situation rapidly

Management Discussion & Analysis (MD&A) Q3/2018 Executive Summary Executive Summary For Q3/2018, Global Power Synergy Public Company Limited (GPSC) (“the company”) earned a net profit of Baht 899 million

. Executive Summary Operating Highlights in Q1/2019 1 Q1/18 Q4/18 Q1/19 Changes +/(-) (Unit: Million Baht) QoQ YoY Operating revenue 5,743 5,863 9,067 55% 58% Gross Profit 1,648 1,265 2,493 97% 51% EBITDA 1,483

million or 21% from 1H/2018 mainly due to recognition of GLOW’s performance following the acquisition of GLOW. Executive Summary Q2/2019 Operating Highlights On the 14th March 2019, Global Power Synergy

Management Discussion & Analysis (MD&A) Q1/2018 Executive Summary Executive Summary 1 For Q1/2018, Global Power Synergy Public Company Limited (GPSC) (“the company”) had a net profit of Baht 922 million

& Analysis Management Discussion & Analysis (MD&A) Q4/2017 and FY2017 Executive Summary Executive Summary 1 For 2017, Global Power Synergy Public Company Limited (GPSC) (“the company”) had a net profit of Baht