million from long-term loan used for loan repayment and also investment in any project. Dusit Thani PLC Management Discussion and Analysis For 4Q19 and FY2019 P a g e | 7 Shareholders’ Equity As of 31

analysis, our cash flow is expected to remain strong with no impact on debt repayment and CAPEX plan. Furthermore, the company is receiving additional working capital facilities by approximately THB 4

, amount and value that have not yet redeemed, maturity date of the collateral, other material conditions on financial year-end date, and latest credit rating of REIT bond, or guarantor of debt repayment

order to meet long-term future demand. For 9M/2017 the liquidity analysis; current ratio, quick ratio, and cash flow ratio improved. Debt to equity ratio improved to 0.93 times due to the repayment of

, quick ratio, and cash flow ratio improved. Debt to equity ratio improved to 0.88 times due to the repayment of long term debt. Debt service coverage ratio (DSCR) remained strong at 2.26 times

Figures Figure 1 Repayment Schedule of Long Term Debt 12 11 Table 4: Cash Flow Statement $million 1Q21 4Q20 1Q20 Remarks Profit for the period after Tax and NCI 198 42 18 Add: NCI 17 9 (1) Add: Depreciation

Table 10 IVL Consolidated Statement of Financial Position 19 List of Figures Figure 1 PTA-PET Integrated Margin ($/MT) 7 Figure 2 Regional Performance 10 Figure3 Repayment Schedule of Long Term Debt 17

with fixed interest % 66% 58% Credit Rating by TRIS AA- A+ 1 Net debt after debt for capex and investments in progress that are not generating revenue and earnings as on date given Figure 7: Repayment

Repayment Schedule of Long Term Debt 15 Table 4: Segment Results (Old segment) Indorama Ventures 1st Quarter 2019 MD&A 13 Table 5: Regional Revenue Breakdown Quarterly Last Twelve Months 1Q19 4Q18 1Q18 1Q19

Integrated Margin ($/MT) 7 Figure 3 Repayment Schedule of Long Term Debt 15 Indorama Ventures 1st Quarter 2019 MD&A 13 Table 4: Segment Results (Old segment) Table 5: Regional Revenue Breakdown Quarterly Last