for the third consecutive year from mid-November to early December. The performance of the Company and its subsidiaries continued to grow, recording total revenue and profit at baht 64,234.49 million

sales 316.5 349.1 -9.3% 348.0 -9.0% Gross profit 355.9 421.0 -15.5% 455.2 -21.8% % 52.9% 54.7% 56.7% Other Income 9.1 4.3 110.6% 1.0 772.0% Total Revenue 681.6 774.5 -12.0% 804.3 -15.3% Selling and

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

earnings translation. US$ 155M lower EBITDA in LTM3Q19 and US$ 22M in 3Q19 due to unplanned shutdowns, catalysts change planned shurdown in EOEG assets in USA and one line conversion from PTA to IPA in USA

affected by the spread of COVID-19 as follows: Revenue Unit: Million Baht Q1/19 Q4/19 Q1/20 Consolidated Statement Revenue 194.29 222.62 167.85 Profit(loss) from exchange rate 0.54 0.35 0.20 Other Revenue

quarter driven by resilient sales and margins in Integrated PET, USA PX and PIA businesses. Core net profit grew to THB 1.6B • Core EBITDA grew in all segments and in all regions as our products primarily

2019 in order to enhance corporate efficiency and growth resulting in favourable operating results by achieving 12% gross profit margin in Q1-2020. UWC determined to continuously improve its strategic

Quarter 2018 MD&A 1 Indorama Ventures Public Company Ltd Management Discussion and Analysis 3rd Quarter 2018 Milestone Revenues and Earnings, Structural Improvements, Enhanced Portfolio and Geographic Reach

with business reorganization in order to enhance corporate efficiency and growth contributing to favourable operating results by achieving gross profit margin and EBITDA since Q1-2020. UWC Group’s

recorded income incurred from deferred tax for the amount of THB 28.6 million. The net amount after amortization was 27.6 million in the first 6-month period of 2017 Operation : Consolidated Profit & Loss