2019 in order to enhance corporate efficiency and growth resulting in favourable operating results by achieving 12% gross profit margin in Q1-2020. UWC determined to continuously improve its strategic

: +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

the resolutions as follows: 1. To dispose all investments in Nation U Co., Ltd. (“NU”) (a subsidiary of the Company holding the license and operating the Nation University business), i.e., disposing

Microsoft Word - 2018 Results Notification letter_English February 12, 2019 The Director and Manager The Stock Exchange of Thailand Re: Information concerning Fiscal Year 2018 Operating Results KCE

and the operating results of the Company for the year ended 31 December 2019. The conclusion was detailed as follows: The Company's operating results for the year 2019, had a net profit of 17.2 million

(EBITDA) 40.18 60.42 (33.51) 41.38 (2.90) 81.55 114.62 (28.86) Depreciation and amortization 13.92 9.98 39.48 13.21 5.37 27.12 19.80 36.97 Key financial ratio related with operating result (%) 2Q17 2Q16

operating income ratio 22.7% 21.2% 21.2% 1.5% 1.5% 22.6% 22.2% 0.4% Cost to income ratio 41.9% 45.3% 43.5% (3.3)% (1.6)% 43.3% 42.1% 1.2% Return on average assets * 1.17% 1.19% 1.14% (0.02)% 0.03% 1.18% 1.16

languages, the Thai version shall prevail. The objective of this MD&A is to present the information and the explanation of financial status and operating results as of the date hereof. However, the

/ Impact from the adoption of Thai Financial Reporting Standards 16 Leases (TFRS 16) since 1 January 2020 which caused higher depreciation and interest expenses (net after tax). Operating Highlights Q1/2019

employees’ retirement benefits according to New Labor Act and recorded loss on impairment of assets in the fourth quarter of 2018. In terms of proportion to total revenues, operating and administrative