Microsoft Word - 61-01_E_Explanation of overall operation for 2017.DOC FANCY WOOD INDUSTRIES PUBLIC CO.,LTD. 257 MU 1 SOI HYLAND, SUKSAWAT RD., PRASAMUTJADEE, SAMUTPRAKARN 10290, THAILAND TEL : (662

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

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

THB 2.6B. • Strong performance for Combined PET, given COVID disruption, driven by strong PET demand, higher Integrated PET spread, lower costs, improved PIA margin. • Integrated Oxides & Derivatives

quarter driven by resilient sales and margins in Integrated PET, USA PX and PIA businesses. Core net profit grew to THB 1.6B • Core EBITDA grew in all segments and in all regions as our products primarily

production volume and higher overall earnings as assets acquired in 2018 and the consolidations of 2018/19 were successfully integrated. These include acquisitions of PTA Portugal, PET (Egypt and Brazil), and

benefitted from higher production volume and higher overall earnings as assets acquired in 2018 and the consolidations of 2018/19 were successfully integrated. These include acquisitions of PTA Portugal, PET

under one global CEO, demonstrated deftness and agility in keeping our supply chains functioning with minimal disturbance to cater to strong customer demand. IVL’s regionally integrated business model has

178 116 18% New Segments Integrated PET 791 414 91% 171 256 114 51% Olefins 232 145 60% 50 52 53 (4)% Fibers 211 181 17% 64 49 47 36% Packaging 48 37 29% 13 11 10 29% Specialty Chemicals 158 229 (31

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