: +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

: +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

other persons’ accounts in such a way as to take advantage of other persons by using non- public material information concerning the fact that SUPER would sell off its assets of all kinds in its core

foreign company. “holding company” means a foreign company whose core business is holding shares of other companies and none of significant manufacturing, distribution or service. “Thai company” means a

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

proportion in core business from the minimum of 75% of the total number of voting rights to that of 50%, strengthening investor protection by revising rules on holding company?s investment structure to ensure

a tangible approach to the debt repayments.  The SEC viewed that EARTH ' s core business is coal trading for which liquidity management is crucial. And in the past EARTH used loans from financial

relevant to its core or non-core businesses to enhance flexibility and efficiency of their business operations.  In principle, the business operators must have an apparent outsourcing policy, measure

Supervisory Board No. Tor Thor. 32/2559 Re: Rules, Conditions, and Procedures for Operation of Securities Clearing Houses and Central Securities Depositories By virtue of Section 16/6, Section 223/3, and

The Securities and Exchange Commission (SEC) welcomed a group of central and regional administrative case officers, senior professionals, under the Professional Level Administrative Case Officials