) 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

: +662 661 6664 Indorama Ventures 1st Quarter 2020 MD&A 1 Executive Summary 1Q 2020 Financial Results • IVL achieved a core EBITDA of US$304M and an operating cash flow of US$340M, an increase quarter on

the declaration of emergency in the notification of the temporary prohibition of aircraft from flying into Thailand , causing the customers of the project which are foreigners cannot transfer the

: +662 661 6664 Indorama Ventures 2nd Quarter 2020 MD&A 1 Executive Summary 2Q 2020 Financial Results • IVL achieved a core EBITDA of US$305M and an operating cash flow of US$300M. Core net profit grew to

declare the corporate intent to serve the public and capital market stakeholders with integrity, transparency and corporate governance, on 8 May 2019. The SEC Declaration of Intent is in compliance with

Quarter 2018 MD&A 1 Indorama Ventures Public Company Ltd Management Discussion and Analysis 1st Quarter 2018 Best Performance Since IPO  Core EBITDA of $326 million – 49% increase year-on-year  Core

specific 5G industrial use cases. Manage cost amidst pandemic to sustain profit In 2Q20, core service revenue was Bt32,285mn, -6.4%YoY and -2.4%QoQ mainly from COVID-19. Total cost amounted to Bt32,831mn

downstream business in Integrated Oxides and Derivatives based out of advantaged Gulf Coast USA. Indorama Ventures 2nd Quarter 2019 MD&A 2 2Q 2019 Summary Financials Table 1: Core Financials of Consolidated

relevant to its core or non-core businesses upon conditions that they have an apparent outsourcing policy, measures, criteria, and service provider control system.  Outsourcing however does not discharge

system and IT security. Guidelines for operating non-core businesses are also open to public comments.The consultation paper is available at www.sec.or.th. Stakeholders and interested parties are welcome