Indorama Ventures 1st Quarter 2019 MD&A 1 Indorama Ventures Public Company Ltd Management Discussion and Analysis 1st Quarter 2019 Highlights Revenue $3.0 billion (THB 95.8 billion), +26% YoY Core EBITDA
society and communities forward. The acquisition of shares in Grand Canal Land Public Company Limited or “GLAND” with details to the transactions as follow • On September 12, 2018, CPN Pattaya Co., Ltd
6661 Fax: +662 661 6664 Indorama Ventures 2018 MD&A 1 Indorama Ventures Public Company Ltd Management Discussion and Analysis For the year ended December 31, 2018 Milestone Revenues and Earnings
approved the transaction in principle. The approval of ERC is granted subject to a condition precedent that GLOW must sell Glow SPP 1 Co., Ltd. (SPP1) before or at the same time as the merger of the company
newly issued ordinary shares of the Company this time with the same allocation ratio, at the offering price of THB 0.30 per share after completion of the issuance and offering of newly issued ordinary
Capital Services Co., Ltd. as IFA. Nonetheless, the Company has no other connected transaction with the same connected person or related person or close relatives subjected to the connected person, within 6
independent financial adviser (IFA) to provide an opinion pursuant to the Notification of Connected transactions, which the Company appointed Advance Capital Services Co., Ltd. as IFA. Nonetheless, the Company
(as amended) (the “Connected Transaction Notifications”). Upon the completion of the Entire Business Transfer Transaction, SUTGH shall hold 24.84 percent shares of the total Company’s issued shares
Transaction, at an offering price of THB 7.28 per share, totaling THB 885,091,662 subjecting to the significant conditions as follows: a) the completion of the Kerry Shares Acquisition Transaction; b) the