Management Discussion and Analysis for Interim Business Operations Financial Performance for the year ended December 31 , 2018 (Unit : M ill ion Baht) 2018 2017 Inc./(Dec.) % Construction income

- Translation - Management Discussion and Analysis for Interim Business Operations Financial Performance for the period ended M arch 31 , 2018 (Unit : M ill ion Baht) 2018 2017 Inc. / (Dec

. Unit : Million Baht For the three-months ended 31 March Items Increased (Decreased) 2018 2017 Amount Percentage 1 Revenue from steel tower manufacturing 177.01 249.73 (72.72) (29.12) 2 Revenue from sale

year 2016 is shown in table 1 below. Table 1 provides an overview of performance. Unit : Million Baht For the three-months ended 30 June Transaction Increased (Decreased) 2018 2017 Amount Percentage 1

Transferred Value (MB) in 2017 Start of Transfer in Year No. of Sold Units Million Baht % (unit) MahaNakhon - The Ritz-Carlton Residences, Bangkok Pace Project Two 15,000 209 157* 10,083 75 4,796.1** April 2016

Start of Transfer in Year No. of Sold Units Million Baht % (unit) MahaNakhon - The Ritz-Carlton Residences, Bangkok Pace Project Two 15,000 209 157* 10,083 75 4,796.1** April 2016 MahaSamutr - Villa

million or 75.16% up from 1Q2019 mainly from higher production capacity of cooked chicken products from new further processing factory. Financial Costs Financial costs of the group include the interest paid

Performance of the Company and its Subsidiaries for the Year 2019 Ended on December 31st, 2019 is as follows: Performance (Unit: Million Baht) 2019 Proportion (%) 2018 Proportion (%) Income from program co

hygiene markets Production capacity 203,000 Metric Tons per annum Production Sites Total six sites located in Israel, USA, Russia, China and India INDORAMA VENTURES PUBLIC COMPANY LIMITED 75/102 Ocean Tower

with details as follow; unit: million baht Items 3-month periods ended 30 September changes 2017 2018 Amount % Amount % Amount % Revenue from sales of goods 70.78 100 63.07 100 (7.71) (10.89) Cost of