% Debt to Equity ratio 0.10 0.11 Earnings per share 0.46 0.80 ROA 11.0% 19.8% ROE 10.9% 20.8%

tax (13.42) (17.15) (3.73) (21.7) Net profit 34.37 65.76 (31.39) (47.7) Gross Profit Margin 47.8% 49.7% Earnings before interest and taxes 18.1% 20.2% Earnings before taxes 10.4% 16.1% Net Profit Margin

faithfully, (Mr. Hiroaki Sano) Managing Director Financial Ratios Q2 2019 Q2 2018 Gross profit margin 20.7% 18.8% Net profit margin 14.3% 12.0% Debt to Equity ratio 0.10 0.10 Earnings per share 0.57 0.43 ROA

Equity Yours faithfully, Mr. Hiroaki Sano Managing Director Financial Ratios Q2 2018 Q2 2017 Gross profit margin 19.2% 20.1% Net profit margin 12.0% 8.4% Debt to Equity ratio 0.11 0.14 Earnings per share

million baht to 67.4 million baht. Earnings per share decreased from 4.78 baht to 3.78 baht. Please be informed accordingly. Yours sincerely, Araya Tejanant Managing Director

Profit Margin 45.0% 45.4% Earnings before interest and taxes 16.5% 16.0% Earnings before taxes 11.2% 11.1% Net Profit Margin 8.6% 9.5% (million) 2018 2017 increase (decrease) 1.2 Report and analysis of

. Discussion and Analysis of the Company and its subsidiaries Operational Results in Q3/2018 and Q3/2017 Corporate Revenue In Q3/2018 the Company and its subsidiaries’ total earnings amounted to 335 million Baht

Quarter 2018 MD&A 1 Indorama Ventures Public Company Ltd Management Discussion and Analysis 3rd Quarter 2018 Milestone Revenues and Earnings, Structural Improvements, Enhanced Portfolio and Geographic Reach

.  Shareholders’ equity The total shareholders’ equity increased by 46 million Baht, main reason came from the Company had unappropriated retained earnings during the nine-month period ended 30 September 2018

3% from the same period last, from105.5 million baht to 102.7 million baht. Earnings per share dropped from 5.91 baht to 5.76 baht. Please be informed accordingly. Yours sincerely, Araya Tejanant