related to the Annual General Meeting (AGM) and securities depository fees and expenses related to the analysis and audit for production to comply with the HACCP and GMP standard that the Company received

-2017 were nearly to Q3-2016 by which in year 2017 there were the sale volumes and production volumes at Management’s Discussion and Analysis (MD&A) For Q3/2017 2 182,095 tons and 190,389 tons in

year 2018 was Baht 422.85 million, which increased from the previous year by 2.73 percent, due to effective management of production cost and selling expenses. (2) Analysis of Operating Results and

increase of 11.57 percent from the same period of previous year, due to effective management of production cost and selling expenses. (2) Analysis of Operating Results and Profitability (2.1) Revenues from

% Feedstock 153 134 144 6% 137 120 14% West Feedstock 174 168 195 (11)% 176 162 9% Asia PTA 92 55 16 493% 41 20 105% Indorama Ventures 3rd Quarter 2018 MD&A 8 Analysis of Production for 3Q18 versus 3Q17 3Q 2018

29.40 million or an increase of 13.20 percent from the same period of previous year, due to effective management of production cost and selling expenses. (2) Analysis of Operating Results and

production cost and selling expenses. (2) Analysis of Operating Results and Profitability (2.1) Revenues from Sales and Services Description Year 2017 Year 2016 Increase / (Decrease) Million Baht % of Total

from the Asia and Middle East electricity production sector decreasing. Management Discussion and Analysis of Business Operation for 2Q/2018 Bangchak Corporation Plc. I 10 Fuel Oil / Dubai crack spread

stability of VCM production, and more balance of ECH market. Analysis of Cost and Expenses 1. In Q1 2018, Cost of sales was 4,159 MTHB, increased by 485 MTHB comparing to 2017 or 13.2% due to the increase of

Management’s Discussion and Analysis (MD&A) for year 2017 2 12.5% for sale volumes and increasing by 19.4% for production volumes. This mainly due to the Tolling agreement with G Steel for producing of HRC to