Position Analysis 22 4.3 Loans and Deposits 24 4.4 Treasury Operations 28 4.5 Operating Performances of K Companies and Muang Thai Life Assurance PCL 29 4.6 Capital Requirements 30 4.7 Credit Ratings 31 5

Bank Plc.** 4,679,400 3.90 7. I.D.F. Co., Ltd. 4,492,000 3.74 8. Sariraporn Co., Ltd. 2,618,940 2.18 9. Bangkok Life Assurance Plc.** 1,696,500 1.41 10. Thanulux Plc.** 1,670,200 1.39 Top 10 major

have focused on collaboration and synergy with other companies within KASIKORNBANK FINANCIAL CONGLOMERATE, Muang Thai Life Assurance Public Company Limited and our business partners, for service quality

Companies; Chairman, Securities Analysts Association; Chairman, the Thai Life Assurance Association; Secretary General, the Thai Bankers’ Association; and Secretary General, the Foreign Banks’ Association

; Chairman, Association of Investment Management Companies; Chairman, Securities Analysts Association; Chairman, the Thai Life Assurance Association; Secretary General, the Thai Bankers’ Association; and

time, we have focused on collaboration and synergy with other companies within KASIKORNBANK FINANCIAL CONGLOMERATE, Muang Thai Life Assurance Public Company Limited and our business partners, for service

Performances of K Companies and Muang Thai Life Assurance PCL 28 4.6 Capital Requirements 29 4.7 Credit Ratings 30 5. Operations of Support Groups 32 5.1 Human Resource Management 32 5.2 IT Management 34 1 1

the Bangkok Life Assurance SMART Hospital Awards 2019 organized by Bangkok Life Assurance Public Company Limited. Kasemrad International Hospital Rattanathibeth opened a new dental department, providing

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...

, The Thai Life Assurance Association; Secretary General, The Thai Bankers’ Association; Secretary General, The Foreign Banks’ Association