political unrest in Hong Kong and the United States, the "gilets jaunes" (yellow vests) movement in France and the on-going trade tensions between the United States, China and Europe, each of which could

MRT Pink Line Project and the MRT Yellow Line Project in the total amount of Baht 700 Million. 4.1.5 Assets of Mount Emerald Wind Farm Project and Collinsville Solar Power Project; projects of RATCH

party decreased in the amount of Baht 2,597.86 million. 4.1.5 The Company had invested in the MRT Pink Line Project and the MRT Yellow Line Project in the total amount of Baht 860 Million. Management

PTE. LTD. 15.59 Others 0.37 Total 4,735.47 3.1.4 The Company had invested in the MRT Pink Line Project and the MRT Yellow Line Project in the total amount of Baht 1,680 Million. 3.1.5 Financial lease

Advertising on Yellow Pages Business (YellowPages) YellowPages engage in commercial search provider and is the Thailand’s largest directory publisher. Its database consisted of all types of products and

Pink Line Project Technology Monorail Route Khae Rai-Min Buri Ownership 10% Contract Term 30 years COD 2022 Progress Civil Works = 60.31% Railway System = 53.91% MRT Yellow Line Project Technology

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...