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...

1 (-Translation-) Ref. No. IRS.025/2019 October 31, 2019 Subject Acquisition of Shares in Hello Bangkok LED Co, Ltd., which is an Assets Acquisition Transaction of the Company, Issuance and Offering of the Newly Issued Ordinary Shares of the Company through a Private Placement which is a Connected Transaction, Capital Reduction, Capital Increase, Entering into the Right to Sell Advertising Media Agreement which is a Connected Transaction, Appointment of the Independent Financial Advisor and Call...

details of the capital increase in the Capital Increase Report Form (F53-4) (Enclosure 3). The Board of Directors has delegated the power to the Senior Accounting and Administration Manager and or any

your information accordingly, Respectfully Yours, (Dr. Ronnachit Mahattanapruet) SVP, Finance and Administration

but not yet redeemed; (b) system for administration, following up, and passing benefits arising from foreign securities to the holders of depositary receipts under the criteria in this Notification and

buy back shares for the purpose of financial administration in the case that the Company has retained earnings and excess liquidity, provided that such buyback of shares shall in no way give rise to any

view of such shareholder; (2) The Company may buy back shares for the purpose of financial administration in the case that the Company has retained earnings and excess liquidity, provided that such

retirement and medical fee, Information technology and other administration expenses which including sale promotion for Frequent Flyer Program (FFP), Corporate Social Responsibility program (CSR), outsources

retirement, medical fee and bonus, Information technology and other administration expenses which including sale promotion for Frequent Flyer Program (FFP), Corporate Social Responsibility program (CSR

quite a longer process of licenses than expected, e.g., import license and food serial number from the Food and Drug Administration (FDA). In addition, the Company is in the process of adjusting its