February 28, 2020 Ref: SET-2020-003 Re: Management Discussion and Analysis for the year 2019 Attn. to: President The Stock Exchange of Thailand Filter Vision Public Company Limited and its

Nation Multimedia Group Public Co., Ltd. 1858/121-122, 1858/125-128 28th, 30th, 31st Floor, Debaratna Road, Bangna-Tai Sub-District, Bangna District, Bangkok 10260 Tel: 0-2-338-3333 Call Center: 0

is based on revenue of OOH listed companies in SET Index. 2 Shopee replaced COMICO brand at Victory Monument station after the contract expired in January 2018. The fourth quarter of 2017/18 (ended 31

ended December 31, 2018 (a copy in Thai and English) Please be informed accordingly. Sincerely yours, (Mr. Aloke Lohia) Group CEO Indorama Ventures Public Company Limited Company Secretary Tel: +662 661

competitions by manufacturers in the second half of the year. In the equity market, the average daily turnover (SET and mai) for 2Q19 increased by 17.6% from Baht 45,739 million in 1Q19 to Baht 53,799 million

saturation and could potentially lead to price competitions by manufacturers in the second half of the year. In the equity market, the average daily turnover (SET and mai) for 2Q19 increased by 17.6% from Baht

growth is consistent with the economic slow down and credit tightening of financial institutions after signs of deterioration in loans. In the equity market, the average daily turnover (SET and mai) for

consistent with the economic slowdown and credit tightening of financial institutions after signs of deterioration in loans. In the equity market, the average daily turnover (SET and mai) for 3Q19 increased by

578,108 578,108 0 -8-   (4) Investment in associated company The Company has entered into a joint venture agreement with Otani (s) Pte. Ltd to set up a company called “Genco Otani Company Limited”(GO) in

doubtful accounts and loss on debt restructuring totaled Baht 763 million, a considerable decline from Baht 2,313 million in 2016, which during 2016 the Bank had set up a general reserve in the amount of