to a 20% reduction in IVL’s core EBITDA. Operating cash flow through this period increased by 33% to $1.3B, as a result of lower prices and operational excellence. IVL has proposed a dividend of

: +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

investments of cash proceeds from the capital increase last quarter and majority settlement of receivables from last year’s disposal of subsidiaries owning land plots at Bangkrachao, (iv) an increase in land

EBITDA 50 41 Net Profit (Loss) (433) (311) H R C HRC Sales (k tons) 172,117 418,365 HRC Production Volume (k tons) 178,506 417,825 HRC Average Selling Price (THB./ton) 17,915 20,109 HRC Cash Margin (THB

3,952 million or 7% from 31 December 2017, mainly from the increase in cash and cash equivalents, the investments according to the additional paid up in the capital of GPSC’s associate, and the increase

Re: Allocation of Cash Flow under Securitization Program and Reporting on Transfer of the Remaining Assets and Benefits of Special Purpose Vehicles

Manila. Second, the impact from foreign currency translation of the financial statements as the THB appreciation against the USD and the Peso by 4% and 10%, respectively. Unit: THB mn 3Q17 3Q16 Var %Chg

Notes 20,538.01 Foreign Currency Bonds 103,007.18 Basel III Subordinated Debt) 10,000.00 IC Bond 2.Foreign Juristic Persons Foreign Juristic Persons Commercial Papers Long-term Bonds Structured Notes

increase in PP&E of THB 419.96 million and an increase in cash and cash equivalents of THB 381.68 million. Liabilities As at September 30, 2017, total liabilities of the Company and its subsidiaries was THB

Net operating debt to equity at 0.61 times with strong operating cash flow. Dividend payout remain much higher than its stated policy of 30% of net profits. Perpetual debenture of THB 15b refinanced at