Indorama Ventures Public Company Limited

Hello, on behalf of Indorama Ventures, I would like to thank all of you for participating in Opportunity Day today. We are very pleased to present the most recent results, including the implementation of the company's work, so that you have the information to support and evaluate the company's potential in the long term. You can ask your questions during the Q&A session after the presentation is over. Thank you. We have established an assumption and a plan for the future of some industries and businesses based on our analysis and information. Starting from March 1, 2016, to improve the reputation of Majestic EBITDA by increasing the impact from the environment to reflect the actual performance of the business. Thus, the comparison number for the year 2015-2017 has been renewed to show that the old improvement is not the same as the general guarantee. and set up to be used for analysis purposes only. It should not be used as a substitute for financial information under the relevant financial standards. The effect of IVL in the first trimester of 2018 was affected by the global economic crisis until the suspension of the supply chain according to the plan and the reduced CPEC profit. . . . . . . . . By the Indovindia Group, there is an adjusted EBITDA of $89 million, increased by 10% Q1Q and 18% year-on-year from the budget. As for the Fiber Group, it is still strong, with an adjusted EBITDA of $47 million, increased by 43% Q1Q and 22% year-on-year from the sales volume and higher margin. as well as sustainable financing management. For the Indovida Group, which is separated from CPET as a subsidiary, especially the adjusted EBITDA report, which accounts for 21 million dollars. The Indovida Group and Fiverr have grown strong, while Indovida has the potential to reduce the capital investment by about 30 million dollars from asset creation. The cash flow from the increase in employment is $416 million, helping to reduce the debt to $100 million. The cost of IVL in the first trimester of 2018 was affected by the global economic crisis, until the plan was stopped and the discounted CPEC was reduced to $3,500,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000. and 9% compared to the same rate as last year, or year-on-year, while adjusted EBITDA is at $276 million, down 23% Q1Q and 30% year-on-year. Most of it comes from CPETs that are affected by MTPE and PT space that are weak. to reduce energy consumption and increase energy consumption. However, the overall composition of the group is supported by the strong performance of the company's Indovigna and Fiber business. The Indovigna Group has adjusted EBITDA at $89 million, increased by 10% Q on Q and 18% Year on Year from the investment savings, while the Fiber Group dollar, 43% Q1Q and 22% year-on-year from the higher sales and margin, as well as continuous investment management for the Indovida Group, which is separated from CPET as a subsidiary, especially the adjusted EBITDA report, which is 21 million dollars. The Indovida and Fiber groups have grown strong while Indovida has the potential to save $30 million year-on-year from asset creation. The cash flow from operations has increased to $416 million, helping to reduce debt by $100 million, even though there is a cap-ex of $183 million. The digital age is still moving forward. The data is up to 95% and AI tools are used to help make better decisions in the field of purchasing and managing cash flow. Let's take a look at the results of the business-to-business division. CPET has been affected by the closure of the supply chain according to the plan. In addition, the production price has dropped and the ship price has dropped. Indovida has reduced $2 million Q on Q from the margin pressure that is related to the sales ratio, but it is still stable and stable. Indovida is better than the margin of HVA, which is stronger and more cost-effective. Fiber business is recovering in all sectors. Lifestyle has been benefited from capital gains. Hygiene has increased by 20% Q on Q, along with better ingredients. Mobility has been restored clearly from the demand in the motor group. In addition, the 4 weak tires have been adjusted to build capital and continue to support the margin. The implementation of IVL according to various living conditions in the US Europe Asia Fibers and lifestyles are doing well in the different prices of CPETs. However, even if we face challenges in each industry, IVL will still maintain the efficiency in manufacturing and the investment potential, especially in the US. . . . . . . $121 million in revenue, 28% Q1Q reduction from the lower-priced section, lower-priced shipping, and higher-priced energy investment. Immediate chemical of reduction of $4 million from $49 million from the closure of EOEG and Lake Charles. Special chemical reduction of $1 million mainly from The increase in NDC sales occurred only once in the first quarter. However, CPET remains stagnant and is expected to recover in the second trimester from a better price range and return to the normal level. Indovida, which is an IVL-based business separated from CPET Group, is an independent business. The adjusted EBITDA report at 21 million USD was sold at 6% from the previous quarter at 74,000 tons. Comparing with the previous year, EBITDA has been supported by the strong performance in the main market. to help reduce the impact of weaker products. The reduced factors in some sectors and the slowness of logistics, even some industries, are under pressure from the challenge of marketing and the market. But the demand in the future is expected to be the driving force for growth. As for the purchase of 24.9% shares in the EPL company, it is estimated that by the end of 2015, and open a new opportunity in the market for innovation and innovation. For Indovindia, it has a strong performance in the first trimester of 2018, with adjusted EBITDA at 89 million USD, increased by 10% from the previous trimester and 18% from the previous year, and received a boost from the change in capital at the time. The main amount increased by 3% from the previous year, HVA from 15% to 17% and Vida profit that has increased to 14%. Indovidya is still focused on innovation and global economy expansion and change. There is a way to grow together and build long-term value. In the first trimester of 2018, Indovindia's HVA value was at 78% and was thought to be 96% of Majestic Remeda, with a profit of 17% supported by the demand of the consumer. The Essential Group, which has a 22% share in HVA and is slowly recovering, Indovina has opened a world-class marketing and marketing platform to accelerate growth. ComEd Personal Care Group still has a stable demand. Crop Solutions Group has reached the end of the stock market in 2016 and has been able to increase the share of the stock market in the current industry. Energy Group And resource, uh, uh, uh, uh, uh. In the first trimester of 2018, Fiverr's growth was strong, with an adjusted EBITDA of 43% compared to the previous trimester and 22% compared to the previous year, reaching $47 million. Fiverr has been supported by oil, sales, and higher profits, as well as continuous financial management. Growth from marginal growth in the lifestyle group, strong sales volume in the hygiene group, and success in tax reduction, even with higher energy costs and high sales volume in Europe. Lifestyle has a profit of $22 million, increased by 38% Q1Q from better performance and different PSFs in the area. Hygiene has a profit of $12 million, an increase of 121% Q-on-Q from a better production and an increase of 20%. Mobility made $13 million, increased by 12% Q on Q from the increased demand for vehicles. Efficient management of vehicles helped reduce the cost of living by $12 million compared to the previous year. And it is still a plus from the recovery of sales and benefits from investing in the United States and Mexico. In the first trimester of 2018, IVL has an EBITDA of $275 million USD and a net profit of $416 million USD with a return of $100 million. . . . . . . . . focusing on creating a free cash flow and continuously reducing debt in 2018-2019, with the main support from the recovery of sales, the highest benefit from the management of the management, as well as some asset sales from the implementation in 2017, which is expected to receive revenue from land sales, around $150 to $200 million in the first half of 2018 to the first half of 2019. In March of 2018, the strength of the company was strong with fresh money and ready-to-use money 2,200 million dollars. The company has a balanced debt structure with 41% of the total interest rate and 59% of the total interest rate, which helps to benefit from the interest rate drop. The net debt equity ratio of the company is 1.39 times and the creditability ratio is 1.24 times. Refinancing of $2 billion in 2018 is according to the plan. Currently, there are loans that are related to sustainability or sustainability link. Considered to be 32% of the total debt. Reflects on the stability of IVL in fundraising with responsibility and the goal of long-term sustainability. The conclusion of the implementation of IVL in the first trimester of 2018 is different from the previous trimester due to the high economic pressure that still pressures the consumer goods market. At the same time, the suspension of maintenance according to the plan and the weather. and affected the production of olefin in the state, which is an important part of CPET business. However, according to the Indovigna, Fibers, and Indovida special business group, it will still have a satisfactory performance. We will continue to work with ourselves to build strength and make it more profitable for our black market. Uncertainty from the tax system that has caused the supply chain to fluctuate and affect the ability to compete with CPET and Fibers business is expected to improve in the second trimester of the year 2568, from higher amounts and better prices. . . . the implementation of the IVL 2.0 project, which will continue to move forward in the year 2018, by making clear and effective measures to improve the performance of the business and leadership in the industry, to take the initiative to change the structure in the long term, by reducing the cost of the construction of property and infrastructure, The fresh money from the operation has contributed to the ability to reduce debt by 100 million dollars in 2017. IVL's digital program is constantly improving, accepting AI and digital tools to raise the level of decision making on the supply chain, purchasing and managing cash flow. Moreover, the management team is still giving importance Thank you. Next, we will move on Q&A.

Good afternoon. Got any questions? The 1 question I can see somebody asking that if the spread goes up in 2nd, quarter 25. How does the performance go compared to 1st quarter 25? How much is a good in 2025? And we're getting China and US trade boy issue. How does it impact? So these are 3 questions I can see so far. Uh, yeah, so if you go to the outside on the previous side, the key take away. And if you go back. The previous slide. Yeah. So, as you can see that we have already mentioned to you as concerns, like, explain to you that 2nd, quarter results, we expect some improvement from the normalization of the turnaround of and some seasonality. And also there are some improvement in the industry spreads and because of seasonality demand. So we expect our separate segments to to perform better. uh from turnaround normalization industry margins and also seasonality fibers also we expect some improvement from management actions and uh on the second question on how much is the gold paybacks in 2025 so it is pretty much uh quite quite similar to uh what we have in uh capital markets day so we have already given out uh our our program capex program for 2025 so i think uh uh we have a maintenance capex and gold capex together it's about 800 million dollars and uh gold capex is about uh 600 million dollars roughly which includes uh the epl acquisition of 24.9 percent uh payment also So next year we expect our capex would be lower as per the plan that we have. The third question on China and US trade war issue and how does it impact? So if you can see the point number five, as concerns, I can explain to you that ideal local to local model, it provides resilience due to this trade uncertainty. So this is a very important factor for ideal because we produce and sell in the same country or in the same geography. And they also benefit from the framework in US, Mexico and Canada framework. So that is also helping us because we manufacture in US and also in Mexico and also our recent expansion of hygiene fiber business in North Carolina and Maxwell. and our autofibers for airbag yarns in Mexico is quite timely because it will not have, it will be benefiting from the USMCA framework.

Yeah, thank you.