December 2018 thanks to strong support from our shareholders. In May 2018, BGRIM was also selected to be in the ESG100 list (Environmental, Social and Governance) by Thaipat Institute to reflect the company

1,146 -45% -17% Basic earnings per share (Baht) 1.51 1.01 0.83 Note: 1/ EBITDA from Refinery Business of the Company, BCP Trading Pte. Ltd. and Bongkot Marine Services Co., Ltd. 2/ EBITDA from Marketing

) expects the Thai economy to contract by 6.7 percent. The main factors driving the economic downturn are the contraction in exports of services, predominantly tourism revenues following the sharp fall in the

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...

subsidiaries earned revenue from rendering goods and services THB 93,861 million (+5% YoY), recorded EBITDA THB 4,147 million (-35% YoY), and a net profit of THB 1,070 million, of which the net profit

general, or the investors may not have received correct or sufficient information to support their investment decision making. Clause 13 If any one of the following characteristics is met, the SEC Office

Capital Services Co., Ltd. as IFA. Nonetheless, the Company has no other connected transaction with the same connected person or related person or close relatives subjected to the connected person, within 6

digital services and platforms to both consumers and enterprise. Continue growing core revenue with controlled marketing expenses In 1Q18, AIS reported service revenue of Bt34,565mn, +6.5% YoY and +2.5% QoQ

PEA 10 0% 35 0% 241.2% Electricity sales 13,143 96% 14,894 95% 13.3% Steam sales 283 2% 258 2% -9.0% Others 183 1% 463 3% 153.2% Sales and services income 13,609 99% 15,615 100% 14.7% Other revenues 113

collaboration will support the Company in developing business operation, products and services to the maximize customer and stakeholders satisfaction. 9. Conditions Precedent The Conditions Precedent of the