Chairman 4. Mr. Mitsuru Sekiguchi Director Director (9) Opinion by The Board of Directors : The Board of Directors supported the resolution authorizing the company to enter said transactions to provide

Committee Member and Executive Director 3. Mr. Kazuhiro Shibahara Director 4. Mr. Mitsuru Sekiguchi Director …/2 Translation - 2 - 5. Dr. Kulpatra Sirodom Independent Director, Chairman of The Audit Committee

Director 8. Mrs. Onanong Saengpumpong Director 9. Mr. Kazuhiro Shibahara Director 10. Mr. Mitsuru Sekiguchi Director 11. Dr. Kulpatra Sirodom Independent Director 12. Mrs. Punnee Worawuthichongsathit

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...