not always tally with consolidated financials due to elimination of Intra-company. 3Core EBITDA is Reported EBITDA less Inventory gains/(losses). 7 4Q19 Segment Analysis Integrated PET The overall

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

200 basis points lower. TRIS has reaffirmed IVL’s AA- rating, with Spindletop (part of Huntsman’s assets) factored in. Industry spreads lower in Integrated PET, MEG, IPA, and Lifestyle fibers vertical

leading integrated margins at scale. Our advantaged portfolio across the three business segments, supported by our transformation programs, is expected to yield in our 2023 business plan superior ROCE in

promising opportunities in new growth segments, supported by well- established positions of Integrated PET and Fibers, IVL portfolio is poised for growth and accordingly, we remain confident to double our

. Overall, we believe that with promising opportunities in new growth segments, supported by well- established positions of Integrated PET and Fibers, IVL portfolio is poised for growth and accordingly, we

and Recycling) Integrated PET production in 2018 was 7.8 million tons, up 14% YoY, supported by higher PET volume contributions from Brazil (since 2Q18), Egypt (since 3Q18) and debottlenecking in China

661 6664-5 www.indoramaventures.com Ref.No.IVL001/01/2020 6th January 2020 President The Stock Exchange of Thailand Subject: Report on the Completion of the Acquisition of the Integrated Oxides and

$150, up 23% YoY, supported by strong momentum across our geographically diversified, integrated PET portfolio, while HVA business had mixed results, with gains in PEO and Packaging, offset by negative

intra-company (or intra-business segment) transactions 2Total of each segment may not always tally with consolidated financials due to holding segment 3Excludes price adjustment for captive sales on