12% as compared to the same period last year of 224 million Baht. The decrease in the finance costs was from a result of loan repayment regarding the capital increase in Q1 2018 and cash flow received

1,487 million. The details are as follow: • Net cash flow from operating activities of Baht 2,962 million from power plants operation in 1H/2018. • Net cash flow from investing activities of Baht 2,169

$819 million, up 33% YoY  Earnings Per Share of THB 4.61, +16% YoY  Operating Cash Flow of $1.0 billion  2019 Earnings Guidance reaffirmed Indorama Ventures 2018 MD&A 2 2018 Summary Financials Table 1

million baht. Cash Flow The Company’s net operating cash flow dropped by 24.32 million baht. The net cash flow used for investment activities fell by 4.70 million baht, while the net cash flow from

first half of 2019. On the costs side SG&A has again shown further improvement and versus 2017 overall dropped 1% as a percentage of revenue as the synergies of integrating Saraburi Quicklime impact

international HRC prices also impacted the margins with gradual improvement witnessed during the quarter.  The reported quarter thus, resulted in reduced Shipment volume and EBITDA loss and Net Loss of THB 228

improvement from 0.55 times at the end of last year. Current ratio as at the same date and period stood at 2.47 times SIGNIFICANT EVENTS 7 January 2019: Vienna International Hotelmanagement AG (VI) acquired 100

 Net debt to equity ratio as of 31 March 2018 stood at 0.34x, an improvement from 0.93x in 31 December 2017. Current ratio as of the same date stood at 3.09x, a significant improvement from 1.70x, both

2018, total equity attributable to owners of the Company stood at THB 1,306mn and non-controlling interests of the subsidiaries at THB 72mn. CASH FLOW For the six months ended 30 June 2018, cash and cash

of 30 June 2018 stood at 0.57x, an improvement from 0.93x in 31 December 2017. Current ratio as of the same date stood at 2.81x, a significant improvement from 1.69x, both mainly as a result of the