ก () (LPN https://market.sec.or.th/PUBLIC/MRAP/MRAPFile.aspx?FILESEQUENCE=0&FUNDNAME=TISESG&FUNDCOMPRUNCODE=MF... 22012327.pdf ., manufacturing, property , and logistics. EBITDA expands in low-single

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...

of the Company which are different from the opinions of the Board of Directors’ opinion -None- 4 2. Servicing Space for Waste of the Manufacturing (Service Agreement) 2.1 Date of transaction September

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

, operates the business of manufacturing and distribution of dialysis and medical equipment, later in February 2018, NCLpurchased some shares from a shareholder, making it the major shareholder with 52.80% of

overview of performance. Unit : Million Baht For the three-months ended 31 March Items Increased (Decreased) 2019 2018 Amount Percentage 1 Revenue from steel tower manufacturing 226.94 177.01 49.93 28.21 2

. Unit : Million Baht For the three-months ended 31 March Items Increased (Decreased) 2018 2017 Amount Percentage 1 Revenue from steel tower manufacturing 177.01 249.73 (72.72) (29.12) 2 Revenue from sale

solution and other medical product manufacturing and trading business. Previously the company held 44% of all shares. Later in February 2018, the company acquired additional shares from one of the

% % 2020 % 2019 % % Revenue from sale 272.47 41.07% 389.02 71.31% -29.96% 600.81 60.91% 795.91 66.61% -24.51% Revenue from manufacturing and service 105.03 15.83% 147.41 27.02% -28.75% 216.52 21.95% 376.15

in quarter 3/2020.  Revenue from manufacturing and service of 419.16 million baht as 227.84 million baht decreased or 35.21 percent when compared to the same period of previous year of 647 million