(0) 2661-6664 2 INDORAMA VENTURES PUBLIC CO., LTD (SET: “IVL”) MANAGEMENT DISCUSSION AND ANALYSIS (MD&A) FOR THE YEAR ENDED DECEMBER 31, 2017 (CONSOLIDATED) Table 1: Financial Summary - Core Financials

. As of September 30, 2019, KBank and subsidiaries had total assets worth Baht 3,240,134 million, rising Baht 85,043 million or 2.70 percent from the end of 2018. The increase came mainly from rising net

processes at KBank and K Companies, these actions are consistent with economic circumstances and rapid changes in the prices of financial assets. We continue to emphasize proactive risk controls via the

company's true earnings from its normal operations. To exclude the assessment of the fair value of net assets and allocation of business acquisition costs as well as the effects of accounting standards, in

LIMITED AEROFLEX COMPANY LIMITED AEROFLEX INTERNATIONAL COMPANY LIMITED AEROFLEX POLYMER TECHNOLOGIES(SHANGHAI) CO.,LTD. AEROFLEX USA INC. AEROKLAS AUSTRALIA PTY LTD. AEROKLAS SHANGHAI CO.,LTD. AEROKLAS USA

guarantee assets at certain banks, however, banks’ performance was still under Thailand Economic Growth Sources: Office of the National Economic and Social Development Council and Ministry of Commerce

INSULATORS PUBLIC COMPANY LIMITED AIE: AI ENERGY PUBLIC COMPANY LIMITED AIRA: AIRA CAPITAL PUBLIC COMPANY LIMITED AIT: ADVANCED INFORMATION TECHNOLOGY PUBLIC CO.,LTD. AJ: A.J. PLAST PUBLIC COMPANY LIMITED AJA

directors of subsidiaries Attachment 3: Details of the Heads of the Internal Audit and Compliance Units Attachment 4: Assets for business undertaking and details of asset appraisal Attachment 5: Unabridged

coordination in case of a foreign company Attachment 2: Details of the directors of subsidiaries Attachment 3: Details of the Heads of the Internal Audit and Compliance Units Attachment 4: Assets for business

TECHNOLOGY PUBLIC CO.,LTD. AJ: A.J. PLAST PUBLIC COMPANY LIMITED AJA: AJ ADVANCE TECHNOLOGY PUBLIC COMPANY LIMITED AKP: AKKHIE PRAKARN PUBLIC COMPANY LIMITED AKR: EKARAT ENGINEERING PUBLIC COMPANY LIMITED AKS