: +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

192.48 210.45 (17.97) (8.54%) 3 - Testing and Inspection 16.83 14.42 2.41 16.71% 4 Cost of sales and services (362.98) (423.61) (60.63) (14.31%) Gross Profit 44.38 47.63 (3.25) (6.82%) Other income 3.28

trade. The Company therefore gain support constantly from them and the bottom line is the growth for both revenue and profit. The Company would like to clarify operating performance for the Quarter 3/2020

and services income, net 1,275,577 1,130,742 144,835 12.8 Gain on financial liabilities designated at fair value through profit or loss, net 459,381 0 459,381 n.a. Gain on trading and foreign exchange

mainly to decrease in revenue from sale of properties. The Company’s net profit margins for the 3-month period ended 31 March 2019 are 9.04% and 5.79% respectively. Financial Position For the 3-month

. Financial ratio highlight as follow Q3/2018 Q3/2017 YEAR2016 Gross profit margin (%) 33.80 31.00 31.67 EBIT Margin (%) 41.80 39.75 33.64 Net profit margin (%) 36.94 34.28 27.64 Return on equity (%) 10.81 9.77

to decrease in revenue from sale of properties. The Company’s net profit margins for the 6-month period ended 30 June 2019 are 12.31% and 4.72% respectively. Financial Position For the 6-month period

Baht 0.3 million from LQSF in proportion of 65%), a decrease from net profit of Baht 61 million in Q2/2017, mainly due to 1) a one-time cost of financial advisory fees and legal consultant fees of Baht

relevant law and regulation in the countries where the hotels operate. With regards to the Company’s financial status, the Company emphasizes first and foremost on effective cash management. In the meantime

1 1. ANALYSIS OF FINANCIAL PERFORMANCE For 9M/2017, East Water Group had total consolidated sales and services income of 3,268.14 million Baht, decreased by 64.83 million Baht or 1.95% (Total