MANAGEMENT DISCUSSION & ANALYSIS 3Q 2019 6 NOV 2019 MASTER AD PUBLIC COMPANY LIMITED 1 13 May 2019 QUARTERLY BUSINESS REVIEW – 3Q 2019  Consolidated revenue increased by 54.0% YoY to THB 748mn o

opportunity for any investors to become one of the owners of the Mikka Café franchise in Bangkok and other major cities. After You’s Policies in response to new COVID-19 outbreak AU Business Operation Corporate

mainly due to the new business in the form of In-store radio advertisement, events promotion and online content production. There was also sales of hinoki wood products of THB 8.26 million. When deducted

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

Group. For the income proportion separating by business structure consisted of Aviation refueling services at 81% and Fuel pipeline transportation services at 19% respectively. 1.1.2 Others Income Others

of New Branches Opened (1) (Branch) 14 8 Number of Branches at Period End (1) (Branch) 102 110 Number of Franchise Branches at Period End (1) (Branch) 127 145 Sales from Restaurant Business During the

. For the income proportion separating by business structure consisted of Aviation refueling services at 81% and Fuel pipeline transportation services at 19% respectively. 1.1.2 Others Income Others

Group. Page 3 of 6 For the income proportion separating by business structure consisted of Aviation refueling services at 82% and Fuel pipeline transportation services at 18% respectively. 1.1.2 Others

Analysis Report of the Financial Positions and Result of Business Operations. To : President of The Stock Exchange of Thailand The Explanation and Analysis Report of the Financial Positions and Result of

Analysis Report of the Financial Positions and Result of Business Operations. (Revise) To : President of The Stock Exchange of Thailand The Explanation and Analysis Report of the Financial Positions and