Dusit Thani PLC Management Discussion and Analysis For 3Q19 and 9M19 P a g e | 1 Executive Summary In 9M19, Dusit Thani PLC (“The Company”) reported the net profit including attributable to non

profit including attributable to non- controlling interest of Baht 339 million, increased by 60.7% from 9M2018. The net profit attributable to owners of the parent was Baht 51 million, decreased by 70.0

: +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

% 63 (119) -290% Elimination (52) (3) (7) (99) (10) Profit attributable to owners of the Company 993 1,146 1,007 1% -12% 3,076 2,153 -30% Basic earnings per share (Baht) 0.72 0.83 0.73 2.23 1.56 Note: 1

31, 2018 as follows. The net profit of the Corporate Group for Year 2018 was Baht 422.85 million. In comparison with the previous year with the net profit of Baht 411.61 million, the net profit

March 31, 2018 as follows. The net profit of the Corporate Group for the 1st quarter 2018 was Baht 140 million. In comparison with the same period of previous year with the net profit of Baht 135.56

(down 40% yoy) because FA EBITDA margin was decreased from lower Market P2F margin. However, the company recognized profit of THB 27 million from investments in the Thai Ethoxylate Company Limited (TEX

company recognized profit of THB 46 million from investments in the Thai Ethoxylate Company Limited (TEX) which produces Fatty Alcohol Ethoxylate (Derivative Product of FA). Lastly, the company had gotten

Consolidated Separate Amount Change Amount Change Q1.2020 Q1.2019 Amount % Q1.2020 Q1.2019 Amount % Revenue from sale – net 289.72 352.86 -63.14 -17.89% 287.55 352.69 -65.14 -18.47% Profit from the exchange rate

2Q2020, although the Company's revenue decreased by 63.36 million baht from 2,164.94 million baht to 2,101.58 million baht or 2.93 percent dropped, gross profit increased 37.08 million baht to an amount of