beneficial to the shareholders. 3. Entering into Business Assistant Agreement with AM: IFA is of view that having considered the overview and reducing estimated cost in comparison to management fee payable to

tax payable 5.3 53.3 (48.0) (90.1) Other current financial liabilities - 11.7 (11.7) (100.0) Other current liabilities 112.6 66.7 45.9 68.8 Liabilities under financial arrangement agreements - net of

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...

lower long term borrowing from debt repayment and lower spectrum payable and lease liability. Interest-bearing debt stood at Bt116,749mn, decreasing by -8.2%. Total equity was at Bt88,278mn, decreasing

PUBLIC COMPANY LIMITED TNR: THAI NIPPON RUBBER INDUSTRY PUBLIC COMPANY LIMITED TPLAS: THAI PLASTIC INDUSTRIAL (1994) PUBLIC COMPANY LIMITED TTI: THAI TEXTILE INDUSTRY PUBLIC COMPANY LIMITED UMI: THE UNION

38.97 million or 3.81 percent, due to the increase in trade accounts payable and other accounts payable of Baht 46.56 million, increase in other current liabilities of Baht 4.51 million and increase in

to the increase in current income tax payable of Baht 15.15 million, increase in other current liabilities of Baht 9.11 million and increase in provision for post- employment benefits obligation of

income tax payable of Baht 3.09 million, but there were increase in trade accounts payable and other accounts payable of Baht 67.06 - 5 - million, increase in other current liabilities of Baht 1.02 million

lockdown offset by improving bad debt expense. Net FX loss was Bt181mn in 3Q20, turned negative, compared to FX gain of Bt344mn in 2Q20 as THB had depreciated against USD and increased capex payable. Finance

liabilities of Baht 1.67 million but there was an increase in trade accounts - 5 - payable and other accounts payable of Baht 71.68 million, increase in current income tax payable of Baht 52.51 million