projects and 8 project is pending so the SUTG company value decreases to 250.05 million baht by discounted cash flow method which is lower than offer to buy so that this offer is suitable and lower risk of

the condition of the decrease of income. In addition, the company is better aware during times of crisis. Cash flow in operations is important to business operations. The Company has negotiated with

and did not affect the Company’s cash flow or its operating performance. KEY HIGHLIGHTS • Total revenue and share of profit from investments in associates decreased by 6.3%. However, if excluding the FX

market players. However, as more capacity returns price pressure will impact on certain segments of the market. An increase in volumes due to the addition of the Hua Pha Way new production site of Golden

standalone with a further 26kMt coming from Saraburi Quicklime. This revenue was generated from the nearly full utilization of the additional 50,000 Mt of capacity (new Kiln 7 started in Hua Pha Way in Q1) and

capacity (new Kiln 7 started in Hua Pha Way in Q1) and the full effect of Saraburi Quicklime. Similar to Q2 2018, the revenue was primarily from core business without significant contribution from

the Discounted Cash Flow and the Precedent Transaction Comparables. The preliminary assumptions used in the valuation based on the Discounted Cash Flow are as follows: 8 Number of years used for

cash flow or its operating performance. KEY HIGHLIGHTS • Total revenue and share of profit from investments in associates increased by 4.4%. However, if excluding the FX impact and one-time loss items

Page 6/ 7 Jaymart Public Company Limited decline. In addition, JAS Asset is aware of the period of crisis. Cash flow in operations is important to business operations. JAS Asset has conducted

: +662 661 6664 Indorama Ventures 1st Quarter 2020 MD&A 1 Executive Summary 1Q 2020 Financial Results • IVL achieved a core EBITDA of US$304M and an operating cash flow of US$340M, an increase quarter on