days to less than 10 days more recently. Lower inventory levels of PTA, higher demand growth and lesser capacity addition cre- ate a positive outlook for the Asian PTA industry. IVL has seen the

Analysis For 4Q19 and FY2019 P a g e | 2 Despite the lower hotel revenue from the closure of Dusit Thani Hotel Bangkok at the beginning of the year with carrying hotel staff cost, the Company reported the

financial due diligence of SUTG and do not found the material adverse effect to the business transfer transaction and as of the business transfer date and there is no any event, circumstance or change that

business operations of its particular bank and its financial conglomerate, transaction volume and related risks and must be reviewed at least once a year and upon any significant change. In addition, close

change in net working capital and cash tax, before maintenance capex Indorama Ventures 2nd Quarter 2019 MD&A 3 Summary 2Q19 results IVL’s performance for the first half and ongoing progress give us the

found the material adverse effect to the business transfer transaction and as of the business transfer date and there is no any event, circumstance or change that has or reasonably likely to have a

Cash Flow is after change in net working capital and cash tax, before maintenance capex Indorama Ventures 2018 MD&A 3 FY 2018/4Q 2018 Performance Highlights  FY18 core EBITDA increased by 44% YoY to

% Net profit margin attributable to owners of the parent 13.2% 13.1% 0.1% 12.8% 12.3% 0.5% Key Change in Segment Grouping In 2019, the Company has changed reportable segments. The strategic divisions

155.6%, arising from increase in available payment from GHECO-One, according to the Power Purchase Agreement (“PPA”) which is based on the principle that annual Availability Payment (“AP”) will not lower

fee and 3) impact from political unrest in Hong Kong created change in plans for some Chinese tourists to visit Thailand instead. For the last quarter of 2019, the Thai economy is expected to continue