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LG Chem, Ltd. and Subsidiaries Consolidated Interim Financial Statements June 30, 2019 and 2018

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LG Chem, Ltd. and Subsidiaries Consolidated Interim Financial Statements June 30, 2019 and 2018 LG Chem, Ltd. and Subsidiaries Consolidated Interim Financial Statements June 30, 2019 and 2018 WorldReginfo - 6e9c0a98-8c9a-4a85-b46b-f11dcb718c87 LG Chem, Ltd. and Subsidiaries Index June 30, 2019 and 2018 Page(s) Report on Review of Interim Financial Statements ................................................................... 1 - 2 Consolidated Interim Financial Statements Consolidated Interim Statements of Financial Position ................................................................. 3 - 4 Consolidated Interim Statements of Profit or Loss .............................................................................. 5 Consolidated Interim Statements of Comprehensive Income .............................................................. 6 Consolidated Interim Statements of Changes in Equity ....................................................................... 7 Consolidated Interim Statements of Cash Flows ................................................................................ 8 Notes to the Consolidated Interim Financial Statements ............................................................. 9 - 77 WorldReginfo - 6e9c0a98-8c9a-4a85-b46b-f11dcb718c87 Report on Review of Interim Financial Statements (English Translation of a Report Originally Issued in Korean) To the Shareholders and Board of Directors of LG Chem, Ltd. Reviewed Financial Statements We have reviewed the accompanying consolidated interim financial statements of LG Chem, Ltd. and its subsidiaries (collectively referred to as the “Group”). These financial statements consist of the consolidated interim statement of financial position of the Group as at June 30, 2019, and the related consolidated interim statements of profit or loss and comprehensive income for the three-month and six- month periods ended June 30, 2019 and 2018, and consolidated interim statements of changes in equity and cash flows for the six-month periods ended June 30, 2019 and 2018, and a summary of significant accounting policies and other explanatory notes, expressed in Korean won. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these consolidated interim financial statements in accordance with International Financial Reporting Standards as adopted by the Republic of Korea (Korean IFRS) 1034 Interim Financial Reporting, and for such internal control as management determines is necessary to enable the preparation of consolidated interim financial statements that are free from material misstatement, whether due to fraud or error. Auditor's Responsibility Our responsibility is to issue a report on these consolidated interim financial statements based on our review. We conducted our review in accordance with quarterly or semi-annual review standards established by the Securities and Futures Commission of the Republic of Korea. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Korean Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. WorldReginfo - 6e9c0a98-8c9a-4a85-b46b-f11dcb718c87 Conclusion Based on our review, nothing has come to our attention that causes us to believe the accompanying consolidated interim financial statements are not presented fairly, in all material respects, in accordance with Korean IFRS 1034 Interim Financial Reporting. Other Matters We have audited the consolidated statement of financial position of the Group as at December 31, 2018, and the related consolidated statements of profit or loss, comprehensive income, changes in equity and cash flows for the year then ended, in accordance with Korean Standards on Auditing. We expressed an unqualified opinion on those financial statements, not presented herein, in our audit report dated February 28, 2019. The consolidated statement of financial position as at December 31, 2018, presented herein for comparative purposes, is consistent, in all material respects, with the above audited statement of financial position as at December 31, 2018. Review standards and their application in practice vary among countries. The procedures and practices used in the Republic of Korea to review such financial statements may differ from those generally accepted and applied in other countries. August 14, 2019 Seoul, Korea This report is effective as of August 14, 2019, the review report date. Certain subsequent events or circumstances, which may occur between the review report date and the time of reading this report, could have a material impact on the accompanying consolidated interim financial statements and notes thereto. Accordingly, the readers of the review report should understand that there is a possibility that the above review report may have to be revised to reflect the impact of such subsequent events or circumstances, if any. 2 WorldReginfo - 6e9c0a98-8c9a-4a85-b46b-f11dcb718c87 LG Chem, Ltd. and Subsidiaries Consolidated Interim Statements of Financial Position June 30, 2019 (Unaudited) and December 31, 2018 (in millions of Korean won) June 30, 2019 December 31, 2018 Notes (Unaudited) Assets Current assets Cash and cash equivalents 3, 5, 6 2,631,013 2,513,702 Trade receivables 3, 5, 7, 31 4,738,091 4,381,199 Other receivables 3, 5, 7, 31 301,142 326,093 Other current financial assets 3, 5, 8 418 - Prepaid income taxes 568 1,831 Other current assets 13 850,830 573,460 Inventories 9 4,770,886 4,289,463 Assets held for sale 35 8,239 2,764 Total current assets 13,301,187 12,088,512 Non-current assets Other receivables 3, 5, 7 183,954 129,251 Other non-current financial assets 3, 5, 8 102,283 93,350 Investments in associates and joint ventures 1, 10, 33 295,325 266,122 Deferred tax assets 28 480,609 408,136 Property, plant and equipment 11 15,863,283 13,839,198 Intangible assets 12 2,129,578 2,006,238 Investment properties 941 950 Other non-current assets 13 78,387 112,380 Total non-current assets 19,134,360 16,855,625 Total assets 32,435,547 28,944,137 Liabilities Current liabilities Trade payables 3, 5, 31 2,548,447 2,165,969 Other payables 3, 5, 31 2,385,162 2,551,476 Borrowings 3, 5, 14 1,431,852 1,613,146 Other current fiancial liabilities 3, 5, 8 356 18,477 Provisions 15 234,578 119,366 Income tax payables 28 204,133 247,787 Other current liabilities 3, 5, 17 557,701 557,313 Total current liabilities 7,362,229 7,273,534 Non-current liabilities Other payables 3, 5 9,793 9,984 Borrowings 3, 5, 14 7,048,585 3,708,001 Other non-current financial liabilities 3, 5, 8 18,138 30,384 Provisions 15 249,450 218,287 Net defined benefit liabilities 16 310,210 227,544 Deferred tax liabilities 28 51,771 57,856 Other non-current liabilities 17 106,516 96,419 Total non-current liabilities 7,794,463 4,348,475 Total liabilities 15,156,692 11,622,009 3 WorldReginfo - 6e9c0a98-8c9a-4a85-b46b-f11dcb718c87 LG Chem, Ltd. and Subsidiaries Consolidated Interim Statements of Financial Position June 30, 2019 (Unaudited) and December 31, 2018 (in millions of Korean won) June 30, 2019 December 31, 2018 Notes (Unaudited) Equity Share capital 1, 19 391,406 391,406 Capital surplus 2,274,623 2,274,623 Other components of equity 21 (374,243) (374,243) Accumulated other comprehensive income (61,559) (202,994) Retained earnings 20 14,791,622 14,994,252 Equity attributable to owners of the Parent Company 17,021,849 17,083,044 Non-controlling interest 257,006 239,084 Total equity 17,278,855 17,322,128 Total liabilities and equity 32,435,547 28,944,137 The above consolidated interim statements of financial position should be read in conjunction with the accompanying notes. 4 WorldReginfo - 6e9c0a98-8c9a-4a85-b46b-f11dcb718c87 LG Chem, Ltd. and Subsidiaries Consolidated Interim Statements of Profit or Loss Three-Month and Six-Month Periods Ended June 30, 2019 and 2018 (Unaudited) Period Ended June 30 (in millions of Korean won, except per share amounts) 2019 2018 (Unaudited) (Unaudited) Notes Three months Six months Three months Six months Revenue 31, 33 7,177,444 13,816,517 7,051,853 13,605,443 Cost of sales 23, 31 (6,029,442) (11,498,537) (5,580,273) (10,792,302) Gross profit 1,148,002 2,317,980 1,471,580 2,813,141 Selling and administrative expenses 22, 23, 31 (880,487) (1,775,098) (768,289) (1,459,009) Operating profit 33 267,515 542,882 703,291 1,354,132 Finance income 5, 25 84,538 154,773 70,032 117,859 Finance costs 5, 25 (146,715) (220,987) (146,313) (180,223) Share of net profit of associates and joint ventures accounted for using the equity method 10 3,710 10,270 (1,200) (457) Other non-operating income 5, 26 143,263 229,945 179,852 243,804 Other non-operating expenses 5, 27, 36 (159,366) (244,356) (161,410) (237,667) Profit before income tax 32 192,945 472,527 644,252 1,297,448 Income tax expense 28 (109,122) (176,766) (150,857) (251,309) Profit for the period 83,823 295,761 493,395 1,046,139 Profit is attributable to: Owners of the Parent Company 68,088 262,575 477,724 1,009,073 Non-controlling interests 15,735 33,186 15,671 37,066 Earnings per share attributable to the equity holders of the Parent Company (in won) 29 Basic earnings per ordinary share 887 3,425 6,234 13,169 Basic earnings per preferred share 900 3,450 6,247 13,194 Diluted earnings per ordinary
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