(0) 2661-6664 2 INDORAMA VENTURES PUBLIC CO., LTD (SET: “IVL”) MANAGEMENT DISCUSSION AND ANALYSIS (MD&A) FOR THE PERIOD OF 2Q 2017 (CONSOLIDATED) Table 1: Financial Summary - Core Financials of

1st quarter of 2016 to 3-in- 1 and RTD Coffee marketed since the 2nd half of 2016. Product strategies also include the shaping up of additional revenue stream from distribution of diversified set of 3rd

percent or more but lower than 50 percent . On that basis, the Company is obligated to disclose information pertaining to the Class 2 transaction to the Stock Exchange of Thailand (“the SET”) as follows

, the Company is obligated to disclose information pertaining to the Class 2 transaction to the Stock Exchange of Thailand (“the SET”) as follows. Ref. WINNER 0009/20108 Page 2 of 8 1. The date on which

accordance with 15 percent or more but lower than 50 percent . On that basis, the Company is obligated to disclose information pertaining to the Class 2 transaction to the Stock Exchange of Thailand (“the SET

and doubtful account as well as the Company recorded extra revenue from gain on sales of written-off account receivable an amount of 346 million baht in this quarter. However, the Company has set aside

% compared to the revenue of the prior year. It results from the increase in sale of set- top box which has been started since the end of 1Q17. Related technology business In 2Q17, the Group generates revenue

เทียบกบัปีก่อนซึงมีจาํนวน 264 ลา้นบาท โดยมีสาเหตุจากการเพิมขึนของรายไดจ้ากการขายผลิตภณัฑ ์ Set-top box และอุปกรณ์โทรคมนาคม รวมถึงรายไดจ้ากงานติดตังเสาอากาศ Indoor WIFI ธุรกจิเทคโนโลยทีีเกียวข้อง บริษทัมี

(“Partial Business Transfer”). The value of such Partial Business Transfer will equal to book value as at the transfer date. The Partial Business Transfer to its subsidiary planned to set the business

the Capital Market Supervisory Commission No. Tor Chor 21/2551 Re: Rules on Connected Transactions and the Notification of the Board of Governors of the Stock Exchange of Thailand (SET) Re: Disclosure