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...

existing shareholders who get permission from Hero Venture. (4) Summary of financial status Financial information as of December 31, 2016 of Hero Experience, which has been audited by its auditor, are as

defects in its qualifications within the time period specified in paragraph two, the mutual fund management company shall request the SEC Office’s permission to change the mutual fund supervisor within 15

preventing of malfunction. [A] · Asking permission for use preserved information media, it shall be done by given approval by the authorised person and preparing a register of receiving and sending of

preventing of malfunction. [A] o Asking permission for use preserved information media, it shall be done by given approval by the authorised person and preparing a register of receiving and sending of

execution of relevant documents and agreements, as well as taking any actions in connection with the allocation of such newly issued ordinary shares; and (3) to execute applications for permission and waiver

applications for permission and waiver, and necessary evidence in connection with the allocation of such newly issued ordinary shares, including the arrangement and submission of applications for such permission

the allocation of such newly issued ordinary shares; and 3) to execute applications for permission and waiver, and necessary evidence in connection with the allocation of such newly issued ordinary

, Permission by Registration and All Applications for Obtaining Approval to the SEC Office on the date when the complete and accurate application together with the evidentiary documentation have been submitted

shareholders’ meeting pursuant to the Notification of the Capital Market Supervisory Board No. TorChor. 72/2558 Re: Permission for Listed Companies to Offer Newly Issued Ordinary Shares to Specific Investors (as