: +662 661 6664 Indorama Ventures 2nd Quarter 2020 MD&A 1 Executive Summary 2Q 2020 Financial Results • IVL achieved a core EBITDA of US$305M and an operating cash flow of US$300M. Core net profit grew to

other persons’ accounts in such a way as to take advantage of other persons by using non- public material information concerning the fact that SUPER would sell off its assets of all kinds in its core

with its strategies and policies to engage in the core business of media and content, in which it has expertise, i.e. the production of media business, television media business, and news contents. The

(0) 2661-6664 2 INDORAMA VENTURES PUBLIC CO., LTD (SET: “IVL”) MANAGEMENT DISCUSSION AND ANALYSIS (MD&A) FOR THE PERIOD OF 2Q 2017 (CONSOLIDATED) Table 1: Financial Summary - Core Financials of

proportion in core business from the minimum of 75% of the total number of voting rights to that of 50%, strengthening investor protection by revising rules on holding company?s investment structure to ensure

a tangible approach to the debt repayments.  The SEC viewed that EARTH ' s core business is coal trading for which liquidity management is crucial. And in the past EARTH used loans from financial

relevant to its core or non-core businesses to enhance flexibility and efficiency of their business operations.  In principle, the business operators must have an apparent outsourcing policy, measure

terms of % to revenue improved from 7.5% in Q4 2021 to 5.9% in Q4 2022. Core operating profit (defined as Earnings before Interests and Taxes exclude interest income, gain (loss) on exchange rate and

sector for the private (Translation) 3 sector’s bidding, both rail and expressway systems, which are the Company’s core businesses, including as the Company’s working capital. The deposition of such shares

company under the laws of Singapore.The company was established on August 25, 2016 with registration number 201623193M and head office is located at 1 Pemimpin Drive # 03-06 One Pemimpin, Singapore ES is