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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

boost up the remaining residences of MahaNakhon project for sale which are expected to transfer by Q1 2018. Nimit Langsuan Project: Currently, the tower core slip form casting has already passed level 5

MahaNakhon project for sale which are expected to transfer by Q1 2018. Nimit Langsuan Project: Currently, the tower core slip form casting has already passed level 5. Level 2 of the floor slab is fully

terms of % to revenue improved from 7.5% in Q4 2021 to 5.9% in Q4 2022. Core operating profit (defined as Earnings before Interests and Taxes exclude interest income, gain (loss) on exchange rate and

Dusit Thani Bangkok hotel and THB 3 million net increase from new investments. The Company still maintains core revenue growth forecast at 8-10% and plans to sell investment in subsidiary to alleviate

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