/(losses) and one-time extraordinary items. 5Operating Cash Flow is after changes in net working capital and cash tax, before maintenance capex. Indorama Ventures 1st Quarter 2020 MD&A 3 Business Segments

. Meanwhile, domestic branded sales slightly increased.  Net loss in Q2/2018 was Baht 15 million, a decrease due to 1) a one-time cost of financial advisory fees and legal consultant fees of Baht 22 million

management continued resulting in controlled network OPEX. SG&A rose in the quarter to support customer acquisition and the one- time expense of Bt134mn on withholding tax. As a result, normalizing the one

declined SGA (-15% yoy, -6% qoq). Our reported NPAT was 7bn, +0.6% yoy and +6% qoq. Excluding one-time items, normalized NPAT was 6.6bn, -5%yoy and flat qoq. Focused on 5G leadership in network and customer

, sales & marketing expenses for the launch of new residential projects, write-off/impairment of asset, one-time income/expense, etc. Residential Business As the Company’s high-rise projects – namely ‘The

and Administrative expenses Selling and administrative expenses increased year-on-year, mainly due to one-time expenses related to the acquisition of Sakthi Global Auto Holdings Limited (SGAH). Net

foreign currency exchange rate increased, mainly due to appreciation of THB against USD which affected loan given to SGAH, amounting to Baht 189 million. Other expenses included several one-time expenses

. For Q1 2018, we have booked one-time expenses related to reinstatement of the offices before we returned our former offices to the landlords. Net profit after Tax The net profit after tax closed at

Act that requires companies to pay severance payment of 400 days of wages for an employee who is terminated and have services year more than 20 years. This was one-time expense in the Income Statement

non-recurring income of 0.27mb or 1.3%. Adjusting the one-time recognition of 12mb non-recurring revenue in Q1 2018, the total revenue should have improved by 13% YoY. This 12mb revenue booked in Q1