% 36% 39% 37% 37% Europe 32% 33% 30% 32% 30% Rest of the World 7% 6% 7% 6% 7% Note: (1) Consolidated financials are based upon elimination of intra-company (or intra business segment) transactions (2

Ventures 2nd Quarter 2018 MD&A 1 Indorama Ventures Public Company Ltd Management Discussion and Analysis 2nd Quarter 2018 Structural Improvements Driving Earnings Momentum  2Q18 Core EBITDA up 63% YoY, 1H18

retained earnings under the Company's financial statement, to the shareholders, at an amount totaling THB 500,000,000 at the rate of THB 0.50 per share and set the record date on August 23, 2019; and to pay

increase of THB 2 million or 0.1%, comprised of the portion due within one year of THB 1,699 million and the rest of THB 1,089 million due in 2021. Shareholders' equity Total shareholders' equity as of

Huntsman assets. 1Consolidated financials are based upon elimination of intra-company or intra-business segment) transactions 2Total of each segment may not always tally with consolidated financials due to

6661 Fax: +662 661 6664 Indorama Ventures 2018 MD&A 1 Indorama Ventures Public Company Ltd Management Discussion and Analysis For the year ended December 31, 2018 Milestone Revenues and Earnings

38% 36% 36% 36% 38% Europe 26% 31% 33% 30% 32% Rest of the World 12% 7% 6% 8% 6% 1 Consolidated financials are based on elimination of intra-company (or intra-business segment) transactions 2 Breakup

disruption of cross border logistics ( that was an issue in Q2), or further large scale lockdowns, so no further one shot impact similar to April-May is projected. The cost saving measures will continue to

experience. Our all-out effort drove 5G adoption to achieve 5G subscribers in Sep-22 at 5.5mn or 12% of total subscribers, a high growth of 41% QoQ. The ARPU uplift of 5G subscribers stayed about 10-15%. FBB

-out effort drove 5G adoption to achieve 5G subscribers in Sep-22 at 5.5mn or 12% of total subscribers, a high growth of 41% QoQ. The ARPU uplift of 5G subscribers stayed about 10- 15%. FBB and