1H/2021. The increase was mainly due to a higher increase in total revenue than total expenses, as result of the Company’s efficient cost management. E B I T D A a n d E B I T D A M A R G I N : • The

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

" of the Securities and Exchange Commission (SEC). An English version of the MD&A has been prepared from the Thai version. In the event of a conflict or a difference in interpretation between the two

- 2020 Balance by Quarter Change Q2–20 Q1–20 Q2–19 Q2–20 VS Q1–20 Q2–20 VS Q2–19 (Million Baht: MB) (MB) % (MB) % Total Revenue 1,187.6 1,231.7 1,729.6 (44.1) (3.6) (542.0) (31.3) Total Operating Expenses

summarized as follows: 1) Profit & Loss Analysis: Q4 2021 (3 Months) (Unit: Million Baht unless otherwise stated) Q4 2021 Q4 2020 Change Amount % Change Total Revenues 5,849 5,834 15 0.25% Sales and service

reporting obligation: 3 September 2020 2.1 ( ) Acquisition (✓) Disposition ( ) Through the Stock Exchange of Thailand via a securities company: Thai Securities company Foreign Securities company Big lot

beverage sales 142.0 55.3 157% 127.9 11% Total 293.0 184.2 59% 283.4 3% Gross Profit (Loss) 60.9 52.0 17% 53.4 14% Net Profit/(Loss) for the Period (8.2) (68.1) 88% (88.8) 91% Net Profit/(Loss) from the

million which details are as following; (1) Revenue from sales In the second quarter of 2020, the Company and its subsidiaries had total revenue from sales at the amount of Baht 419.35 million, which

Company Limited (“BTS”) and Sino-Thai Engineering and Construction Public Company Limited ("STEC")), to submit a Public-Private Partnership proposal and to enter into a Public-Private Partnership Agreement

times its total foreign-currency-denominated debt. The Thai baht stood at 32.55 THB/USD at the end of 2018, easing by 0.75 percent from 32.31 THB/USD at the beginning of the year. On the domestic front