May 2019 thereby losing production and commensurate earnings for over a month for 2Q19 and for a further 2 months in 1Q19 thereby impacting both quarters and the YoY performance. Consequently, earnings

, force majeure by one of its suppliers (impacting PHP) and the start-up impact of recently acquired assets including Durafiber, Avgol and Kordana resulted in this segment earning a core EBITDA margin of 8

announced in many countries, severely impacting both the tourism service sector and related businesses. Meanwhile, merchandise exports shrank as the global demand weakened due to lockdown measures and supply

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...

environment, thus impacting the banking industry’s core businesses. As a result, banks had to set aside a higher expected credit loss (ECL) under the Thai Financial Reporting Standards (TFRS 9): Financial