granted for Power Purchase Agreement (“PPA”) from biomass of Pracharath project in 3 Southern provinces. The investment is classified as Asset Acquisition. The calculation basis is based on the Acquisition

value of consideration basis and having the highest transaction value of assets disposal of 34.571 percent according to the value of consideration basis, the calculation is based on the Company's reviewed

amended) (the “Acquisition and Disposition Notifications”). The transaction size of the Transaction is equivalent to 31.108 percent as calculated based on the total value of consideration criteria, which

]. Clause 4 A licensee shall pay to the SEC Office a fee according to the obtained license at a rate varies based on business volume or at the fixed rates set out in this Notification. In the case where a

16% 0.87 0.71 0.75 16% 1Consolidated financials are based upon elimination of intra-company (or intra-business segment) transactions 2Total of each segment may not always tally with consolidated

2.03 27% Core EBITDA/t (US$/t)) 107 100 94 14% 97 86 13% Net Operating Debt to Equity 0.84 0.80 0.99 0.84 0.99 Note: (1) Consolidated financials are based upon elimination of intra-company (or intra

downstream business in Integrated Oxides and Derivatives based out of advantaged Gulf Coast USA. Indorama Ventures 2nd Quarter 2019 MD&A 2 2Q 2019 Summary Financials Table 1: Core Financials of Consolidated

of consideration based on the Company’s consolidated financial statements as of 31 December 2019 audited by the certified auditor. There is no acquisition transaction to be incurred in the past 6

Listed Companies Concerning the Acquisition and Disposition of Assets, 2004 (collectively, the “Notifications on Acquisition or Disposal”) The maximum transaction value calculated based on consolidated

Operating Debt to Equity (times) 0.39 0.54 0.80 (51)% 0.39 0.80 (51)% 1Consolidated financials are based upon elimination of intra-company (or intra-business segment) transactions 2Total of each segment may