materiality. TRIS informed RML that TRIS downgraded the RML credit rating to "BB+" (Double B Plus) from "BBB-" (Triple B Minus) and the rating outlook is revised to "Negative" from

-China trade negotiations and Brexit risks. The World Economic Outlook of the International Monetary Fund revised downward its global economic growth projection for 2019, to 3.3 percent from the previous

MANAGEMENT OUTLOOK In 3Q 2017, we successfully accomplished the Company’s roadmaps by once again delivering highest top-line and bottom-line results in the Company's history. Our 4Q 2017 performance is

since 2016, while the Indonesia market also began to generate early profit. Despite the positive sentiment in the oversea markets, the Company’s faced challenges from the sluggish performance in the

carried out in Q2/2020. Management Discussion & Analysis Q1/2020 Positive signal from Mikka Coffee Stand amidst the pandemic In Q1/2020, After You introduced and piloted new coffee stands under the brand

Company expects to receive new fresh funds as CAPEX and Working Capital. With the support from the new Shareholder, we are positive to be more competitive in term of cost resulting the positive bottom line

whether or not there would be any proposals for such Trade Debt as mentioned above to SSG Group. On 4 October 2017, 2. Business Outlook on Q4/2017 Management’s Discussion and Analysis (MD&A) For Q3/2017 3

(BGRIM) at “A” with “stable” outlook. The rating reflects the company’s position as one of the leading private power producers in Thailand, its well-diversified portfolio of cogeneration power units under

remained resilient, despite a global slow-down in demand and weak outlook for automobiles. Lifestyle, on the other hand, has been adversely impacted due to stocks overhang and impacted by US- China trade

: 367 kta PTA: 433 kta Double digit ROCE 700-800 (till Jun’20: 402) Recycling projects PET recycling 2020-2023 ~600kta ROCE 12-14% 700-800 Indorama Ventures 2nd Quarter 2020 MD&A 7 2020 outlook Under the