HRC Average Selling Price (Bht./Ton) 18,108 15,709 HRC Cash Margin (Bht./Ton) 1,223 1,334 Unit: million Baht 3rd Quarter 2017 Year-end 2016 Fin an ce S ta tu s Total Assets 31,907 32,615 Total

% Core EBITDA/ton ($) 102 113 140 (27%) 128 120 7% Operating Cash Flow5 261 250 241 8% 1,010 872 16% Net Debt to Equity (times) 0.92 0.87 0.61 51% 0.92 0.61 51% 1Consolidated financials are based upon

Cash Flow of $261 million (THB 8.3 billion) Indorama Ventures 1st Quarter 2019 MD&A 2 1Q 2019 Summary Financials Table 1: Core Financials of Consolidated Business Quarterly Last Twelve Months $million

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

consideration including with the cash loans, guarantees, and other liabilities will affect highest of disposed transaction value at 60.99 percent of total assets based on the consolidated financial statement as

FY2019 Bangchak Corporation Plc. | 03 Table of Contents 06 09 29 25 27 31 Executive Important Events Summary Business Performance 11 - Refinery & Trading 16 - Marketing 19 - Power Plant 21 - Bio-based

Baht 321 million comparing to Q1/2019, mainly due to a decrease in the recognition of the operating results of Paju ES, caused by the seasonal electricity usage. 4. Cash Flow Analysis As of June 30, 2019

Parliament Project in Information and Communication Technology, the D–ticket Project of State Railway of Thailand, the High–Speed Internet Service Project in Remote Area (USO), the IT Infrastructure Design and

equity ratio have increased from 0.49 : 1 to 0.50 : 1 and from 0.69 : 1 to 0.79 : 1 as of 31 December 2017 and 30 March 2018 respectively. Cash flow statement The cash flow statement as of 31 March 2018

company and its subsidiaries had net cash received for Baht 1,752 million. The details are as follows: • Net cash flow from operating activities of Baht 6,108 million. • Net cash used in investing