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...

, attributed to a decline in share of profit from operations, mainly due to seasonal influence. Q2/2019 is off-monsoon season, reducing wind speed, whereas in Q1/2019 would encounter monsoons and depressions

, coupled with loan extension in the Thai banking system, may influence the setting of the deposit rates, going forward. We are therefore keeping a close watch on the situation, while analyzing the course of