Quarter 2018 MD&A 1 Indorama Ventures Public Company Ltd Management Discussion and Analysis 3rd Quarter 2018 Milestone Revenues and Earnings, Structural Improvements, Enhanced Portfolio and Geographic Reach
earnings on a YoY basis both in 4Q19 and 2019, driven mainly by a negative EBITDA contribution from IPA. This is in line with industry spreads, which were at an all-time low. IVL has launched a turnaround
earnings translation. US$ 155M lower EBITDA in LTM3Q19 and US$ 22M in 3Q19 due to unplanned shutdowns, catalysts change planned shurdown in EOEG assets in USA and one line conversion from PTA to IPA in USA
in Asia. Overall Sales have increased despite lockdown in various countries with COVID19 reinforcing essentials nature of our business. Lower oil prices have led to an improvement in earnings of our
audience. After all this time, MACO has been taking numerous steps to accommodate the growth of out-of-home media. These steps include an investment in Trans.Ad Solutions Co., Ltd. (“Trans.Ad”), – a
acquisition of Spindletop and startup of Lake Charles cracker did not provide us the typical earnings which we had built in our business case. Our strong balance sheet and the strategic fit of these gas based
related numerous documents and information. The SEC granted a 30-day extension ending 8 March 2017. KC must also disclose the amended financial statements and the results of the special audit via the SET
deadline of the special audit report to allow more time to complete the examination and review of all related numerous documents and information.The SEC granted a 30-day extension ending 8 March 2017. KC
leading to margin increase in all commodity products, supporting the increase in crude oil prices. All of this is translating into stronger than anticipated earnings in first half 2021. Transformation
of 3,600 tons per annum and having numerous industrial and non-industrial applications used by global leading brands. This acquisition will further enhance the HVA portfolio of IVL. The value of the