advantaged shale gas components of ethane, butane and methanol. With the acquisition of Spindletop’s (IVOX) MTBE assets in the US, IVL has a unique position in North America. Between the selling of MTBE and

mainly from higher methanol price in 1Q2018. Global Green Chemicals Public Company Limited Management’s Discussion and Analysis | 5 Fatty Alcohols Exhibit 4 : Products and Feedstocks’ prices Average Price

. Compare to 4Q2018, it was reduced by 0.35 Baht/kg or down 7%. These were mainly resulted from the decreasing of methanol price which was a factor in the ME EPPO price formula. Fatty Alcohols Exhibit 4

difference between ME EPPO price and mixed feedstock prices) was at 4.49 Baht/kg., decreased by 8% compared to 1Q2019 because the methanol price which is a factor in the ME EPPO price formula declined, while

difference between ME EPPO price and mixed feedstock prices) was at 4.83 Baht/kg, decreased by 0.46 Baht/kg or 9% from 3Q/2018 because the methanol price Global Green Chemicals Public Company Limited

/kg., down by 9% from 1H2019 because the methanol price which is a factor in the ME EPPO price formula dramatically declined. P a g e | 8 - Management Discussion and Analysis 2Q2020 - Fatty Alcohols (FA

and mixed feedstock prices) was at 4. 52 Baht/ kg, decreased by 13% and 6% compared to 4Q2018 and 3Q2019 respectively because the methanol price which is a factor in the ME EPPO price formula