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...

same period last year by 1.51 Million Baht or 46.61%. The primary cause is the cost of merchandise display and costs in the booth, according to various event to make the Day Break Brand’s shoes & bags

project in Patong Phuket Patong project in Patong Phuket is worth Baht 1,800 million. The Company has the idea of developing land and utilities, roads, water systems, electricity and recreation in this

and utilities, roads, water systems, electricity and recreation in this large area. (Which is under construction and design) to become a tourist center. There will be land and utilities development by

, Pattaya, Krabi, etc. and the utilization rate is quite high. Thus, the Company is looking to search new additional areas covering Thailand such as beach view or tourist attractions, together recreation

, mountain view or tourist attractions, together recreation activities, for example, water sports, mountain bike, trail, etc, Moreover, the Company is committed to driving sustainability since the Company use

tires and tires, rubber products including import and distribution of shoes and also no investments in other businesses that have conflict of interest with NDR. 6. Listed company is qualified in terms of

distribution of shoes and also no investments in other businesses that have conflict of interest with NDR. 6. Listed company is qualified in terms of free float distribution, with no less than 150 retail

transaction is completed, does not have any investment in the manufacturing and distribution of motorcycle tires and tires, rubber products including import and distribution of shoes and also no investments in

and distribution of motorcycle tires and tires, rubber products including import and distribution of shoes and also no investments in other businesses that have conflict of interest with NDR. 9 Criteria