—driven by strong polyester demand growth, capacity balancing and superior supplier discipline—we expect recovery in Asian PTA earnings in the quarters to come. Indorama Ventures 1st Quarter 2018 MD&A 7

or markets  Trackers: low-cost investment  Strategic Beta: beyond cap-weighting 20 Outlines 21 Global equity mutual fund flows from active to passive Share of passively-managed equities Source: EPFR

to deliver a superior customer experience. Our effort to drive 5G adoption drove 5G subscribers to 3.9mn or 8.6% of total subscribers with the ARPU uplift of around 10-15%. Broadband and Enterprise

Checklist คุณสมบัติตามเกณฑ์ share swap

% Share of profit of associates and joint ventures (6) 0.0% 119 0.2% (125) (105.2%) Profit (loss) before finance cost and tax expense (2,569) -6.2% 2,668 5.1% (5,236) (196.3%) Finance costs 790 1.9% 292 0.6

3,001 6.3% 4,073 7.6% (1,072) -26.3% Profit from operating activities 1,681 3.5% 2,398 4.5% (717) -29.9% Finance costs (771) -1.6% (284) -0.5% (487) 171.4% Share of profit of associates and joint ventures

Profit 142 55 251 76% 359% 937 521 -44% EPS (Baht/Share) 0.19 0.05 0.24 27% 359% 1.27 0.56 -56% Stock Gain/(Loss) & NRV 49 -143 -62 -227% -57% 356 -664 -286% Adjusted EBITDA (1) 224 354 449 101% 27% 1,104

1,146 -45% -17% Basic earnings per share (Baht) 1.51 1.01 0.83 Note: 1/ EBITDA from Refinery Business of the Company, BCP Trading Pte. Ltd. and Bongkot Marine Services Co., Ltd. 2/ EBITDA from Marketing

, our fixed broadband business (FBB), grew strongly achieving the target of 1 million subscribers in FY19 and increased subscriber market share to 10% from 8% in FY18. The solid growth was driven by a

increase of 21% from Baht 3,640 million as at 31 December 2016. This was mainly due to increased inventories from higher stock level of branded canned fruit than last year preparing for sale until the next