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

”) in the amount of 132,000 shares with a par value of THB 100 per share or representing 66 percent of all shares of SUTG to Mr. Suparuek Na Songkhla (“Mr. Suparuek”), Mr. Inthidej Pala-in and Miss

(Khae Rai – Min Buri) and the MRT Yellow Line (Lat Phrao – Samrong) As the Company together with BTS Group Holding Public Company Limited (“BTS”) and Sino-Thai Engineering & Construction Public Company

Company’s shares, is the ownership of the Title Deed No. 348823, Parcel No. 282, Sub-District No. 27167 and the Title Deed No. 348451, Parcel No. 281, Sub-District No. 27141. The details of land assessment as

funds for foreign investors (Thai Trust Fund) and the Non-Voting Depository Receipts (NVDR), specify the number of shares and the number of the underlying shares of the convertible securities which are

-ร่าง- UNOFFICIAL TRANSLATION Codified up to No. 3 As of 22 December 2016 Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for

Meeting No.1/2017, the shareholders approved the reduction the Company’s registered capital by cancelling 10.1 million shares and increase the Company’s registered capital by issuing new ordinary shares of

Offering at the ratio of 5:2 4.2 Issuance of warrant at the ratio of 3:1. 5. Determined the 2020 Annual General Shareholders’ Meeting to be on April 30th, 2020 at 09.00 am. To be held at the Thai Army Club

invitation Attachment : 1. Information Memorandum on Asset Disposition and Connected Transaction Dear Sir, The meeting of The Board of Directors of Thai Wacoal Public Company Limited no. 8/2018, held on March

% or THB 13,902mn from 31 December 2017, mostly from the EBT of UE, which was funded by a capital increase via issuance of preferred shares in the first quarter  Net debt to equity ratio as of 31