…………………………………………………………………… Representative of Debt Securities Holders………………………… Registrar and Paying Agent…………………………………….……… Warnings: “Prior to making an investment decision, investors should exercise their own judgment when considering

million settlement in insurance claim arising out of business interruption in prior period. The segment benefitted strongly from the West Feedstocks portfolio with higher volumes and margins in EOEG

of Debt Securities Holders…………………………. Registrar and Paying Agent…..………………………………….……… Warnings: “Prior to making an investment decision, investors should exercise their own judgment when considering

……………………………………………… Size of MTN Program…………………………………………………… Financial Adviser………………………………………………………… Underwriter………………………………………………………………… Representative of Debt Securities Holders………………………… Warnings: “Prior to making an

/(losses) and one-time extraordinary items. 5Operating Cash Flow is after changes in net working capital and cash tax, before maintenance capex. Indorama Ventures 1st Quarter 2020 MD&A 3 Business Segments

Profit less Inventory gains/(losses) and one-time extraordinary items. 5Operating Cash Flow is after changes in net working capital and cash tax, before maintenance capex. 4 Business Segments Definitions

capital and cash tax, before maintenance capex. 3 Business Segments Definitions IVL categorizes its business into five business segments. The purpose of this section of the document is to discuss the

extraordinary items. 5Operating Cash Flow is after changes in net working capital and cash tax, before maintenance capex. Indorama Ventures 2nd Quarter 2020 MD&A 3 Business Segments Definitions IVL now

Inventory gains/(losses) 4Core Net Profit is Reported Net Profit less Inventory gains/(losses) one-time extraordinary items 5Operating Cash Flow is after change in net working capital and cash tax, before

tax, before maintenance capex Indorama Ventures 1st Quarter 2019 MD&A 3 Summary In 1Q19, IVL achieved an aggregate production of 3 million tons, with operating rate of 85%. Our core EBITDA was $304