Annual General Meeting 2026

‌A New Era of Collective Leadership and Radical Clarity‌

Annual General Meeting of Shareholders April 2026

‌A Global Moat Built on Local Integration

% of total coma

Americas EMEA Asia

36

Sites

~50%

of Total Revenue

59% 21% 20%

35

Sites

~20%

of Total Revenue

40

Sites

~30%

of Total Revenue

2

Purchased Intermediates End products

Note: Number of sites as of Mar 2026; Financial data as of financial year 2025

© Indorama Ventures 2026

‌The Unseen Value - Our Four Competitive Engines

Combined PET (CPET)

PET

producer

globally

Recycled

PET

producer globally

The only shale-

integrated

player in the West

Four engines are the bedrock of IVL's intrinsic value:

Engine #1:

Combined PET and the "Shale to PET" advantage

Indovida (Packaging)

Market position in ASEAN

Market

position in Africa

Packaging

leadership

in emerging markets

Engine #2:

Packaging federation and EPL-Indovida merger

Ethoxylation

#2globally

Indovinya

Non-ionic

surfactants Producer in Americas

Americas'

home care ingredients provider

Crop

solutions company

Americas

provider in

Engine #3:

Indovinya and the integrated value chain

Fibers

Lifestyle

PET staple fiber ASEAN

Hygiene

BiCo fiber

Technical Textiles

Airbag

yarn

Tire cord

fabric

Engine #4:

Our technical textiles platform

3

© Indorama Ventures 2026

‌The Americas - Our Unique Advantage

Integrated shale to PET business

Advantaged PX production

US shale gas advantage

$/T

US ethylene feedstock maintains a structural cost

$/T

MTBE is a proxy for MX

4

Note: (1) 0.58*22.046*0.422*Ethane (cpg); (2) ASP MEG - 0.58*22.046*0.422*Ethane (cpg); (3) ASP MEG - 0.58*NEA Naphtha; (4) US PET Import Parity - 0.34*ASP MEG - 0.86*0.67*0.925*PX 50:50;

(5) ASP PET - 0.34*ASP MEG) - 0.86*0.67*PX 50:50); (6) 0.345*methanol + Isobutane; (7) 0.925*PX US - MX US + MTBE US - MTBE feedstock cost; (8) PX 50:50 - Naphtha MOPJ

PTA

1,000

500

advantage vs. Asian peers

Naphtha

1,400

MX

900

-

$/T 600

400

200

-

$/T 900

600

300

© Indorama Ventures 2026

-

US Ethylene Feedstock Cost1

IVL US MEG benefits from shale gas advantage vs. Asia naphtha-based producers

US Int. MEG2

Asia Int. MEG3

US Int. PTA/PET maintains a premium to Asia,

supported by import parity pricing

US Int. PET4

Asia Int. PET5

400

$/T 1,300

800

300

$/T 700

500

300

100

MTBE

IVL US MTBE business advantaged feedstock cost vs. naphtha-based aromatics producers

Naphtha

MTBE

Feedstock

Cost6

Resulting in superior spread vs industry

IVL PX Spread7 Industry PX

Spread8

‌Our Operating Rhythm

6.0

6.5

6.9

4.6

103

4.7

4.5

100

89

68

66

64

Inventory (THB B) and Turnover (Times)

Improving Inventory Management

Real-Time Discipline

Optimize Supply Chain and Integrated Planning

Deploy Digital Tools

2023 2024 2025 2026 2027 2028

Commodity Inventory

Value-Added Inventory Inventory T/O

Challenge Slow Moving & Safety Stocks

5

Notes: Turnover on COGS

© Indorama Ventures 2026

IVL

‌The Financial Contract: Quality, Cash, and Deleveraging

Earnings quality, free cash flow, and deleveraging come first

6

Note: (1) FCF = Cash flows before Dividend and Growth;

(2) Debt to Reported EBITDA

© Indorama Ventures 2026

‌Thank you

© Indorama Ventures 202