Baht, increased 1,001.9 Million Baht or 215.8% from Q2 2016. Country Company-operated Stores Licensed Stores Total United States 10 - 10 United States (Hawaii) - 1 1 Thailand 13 - 13 Japan 15 (50% JV) 16

The opinions of the Independent Financial Advisor on the connected transaction (For the purpose of translation only) 0 The opinions of the Independent Financial Advisor on the connected transaction by Thai Wacoal Public Company Limited Presented to Shareholders of Thai Wacoal Public Company Limited Prepared by 8 March 2019 This English report of the Independent Financial Advisor’s Opinions has been prepared solely for the convenience of foreign shareholders of Thai Wacoal Public Company Limited...

Financial Report Standard (IFRS) หรือ 2) Financial Accounting Standards (FAS) หรือ 3) United States Generally Accepted Accounting Principles (US GAAP) หรือ 4) มาตรฐานการบญัชีอ่ืนที่สํานักงานยอมรับ แนวทางแกไข

result of lower-than-normal production capacity. Sales volume (Ton) - Euro 356 623 75.00% - United States dollar 875 927 5.94% - Thailand baht 2,345 2,216 -5.50% Total sales volume (Ton) 3,576 3,766 5.31

a customer, and the reclassification of fixed costs at the new factory which incurred as a result of lower-than-normal production capacity. Sales volume (Ton) - Euro 1,377 2,146 55.85% - United States

-53.56% Basic Earnings per Share 0.35 0.25 (0.002) 0.23 1.79 0.83 -53.56% Performance Report Issue of trade war between the United States and China affected the overall global economy as well as the

costs, written off withholding tax, travelling expenses and depreciation expenses. Sales volume (Ton) - Euro 2,146 1,190 -44.55% - United States dollar 4,646 2,432 -47.65% - Thailand baht 8,389 9,136 8.90

of Fancy Wood International, LLC (a subsidiary of Fancy Wood International Co., Ltd.), which operated the golf course business in the United States in May 2017, resulted in profit of 70.27 million Baht

United Kingdom, Myanmar, Vietnam, Philippines. Also, the transportation expense was increased. The administration cost was 8.87 million baht, as increased of 0.13 million baht or 1.46%, compared to same

19.42 million and claim expenses from a customer in the amount of Baht 6.47 million. Sales volume (Ton) - Euro 1,299 1,377 6.00% - United States dollar 4,630 4,357 -5.90% - Thailand baht 6,887 7,830 13.69