branches. In addition, there was growth in sales through modern trade channels, particularly convenience stores such as 7-Eleven, which began product distribution in July 2024. R E V EN UE : • The Company’s

3,587.58 100.00% 3,748.57 100.00% 160.99 4.49% Distribution costs 159.17 4.44% 156.53 4.18% (2.63) (2.04%) Administrative expenses 88.27 2.46% 105.82 2.82% 17.55 19.88% Profit from operating activities 68.39

: SIAM WELLNESS GROUP PUBLIC COMPANY LIMITED SPALI: SUPALAI PUBLIC COMPANY LIMITED SPG: THE SIAM PAN GROUP PUBLIC COMPANY LIMITED SPREME: Supreme Distribution Public Company Limited STECON: STECON GROUP

PUBLIC COMPANY LIMITED SPA: SIAM WELLNESS GROUP PUBLIC COMPANY LIMITED SPALI: SUPALAI PUBLIC COMPANY LIMITED SPG: THE SIAM PAN GROUP PUBLIC COMPANY LIMITED SPREME: Supreme Distribution Public Company

distribution for investors and issuers respectively. The framework enables fund managers operating in a member jurisdiction to offer a CIS constituted and authorised in that jurisdiction to retail investors

employment rate, and income distribution throughout the country. The Ministry of Interior strongly supports this project and will help disseminate the information to entrepreneurs nationwide with the help of

profile. This would allow them to have sufficient assets to meet their needs for long-term living. Besides the existing channels for financial products distribution, the SEC has initiated a new license

persons of the REIT manager; (11/1) transactions being conflict of interest between the REIT and a trustee; (12) disclosure of information of the REIT; (13) payment of distribution to unitholders; (14

appraisa t appropriate iscount not praiser, and he asset app Value Ap Financia and/o Appraise 3 65 5 2 1,3 s in subsidiari nately in acco s, not include the f 30 Septembe will require the ny. ed on average

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...