existing shareholders. As a result of this transaction, the Company’s shareholding in BMN increased from 69.67 percent to 89.67 percent. 2. Dividend payment On April 26, 2019, the 2019 Annual General Meeting

attributable to the equity holders of the Company decreased by 30.2% from THB 53mn to THB 37mn with a decline of Net profit margin of 5.4% from 19.1% in 1Q 2018. The lower-than-expected net profit’s performance

short-term investments decreased. As the growth rate of total revenue was lower than the growth rate of total expenses, then the Net profit attributable to Equity holders of the Company in Q2/2018 and of

short-term investments decreased. As the growth rate of total revenue was lower than the growth rate of total expenses, then the Net profit attributable to Equity holders of the Company in Q2/2018 and of

until the situation is well. Moreover, in order to reduce the effect on the shareholders from the postponement of the 2020 Annual General Meeting, the Board of Directors Meeting on April 9, 2020 had a

holders of the Company/ operating revenue 3 Net Profit (Annualised) / Average Total Shareholders’ equity (average of outstanding at end of the previous year and at end of this year) 4 Earnings before

1. Dividend payment On April 26, 2019, the 2019 Annual General Meeting of the Company’s shareholders had a resolution to approve a dividend payment from 2018 operating results of Baht 0.15 per share

of the subsidiaries (1.24) -0.2% (0.64) -0.1% (0.40) -0.1% 100.0% 100.0% Net profit - Equity holders of the Company 145.01 17.2% 142.28 17.4% 149.51 18.7% 5.1% 3.1% %YoYIncome Statement Q1/2018 Q4/2018

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

1 25 July 2019 Subject: Notification of the Postponement of the Extraordinary General Meeting of Shareholders No. 1/2019 and the change of the date on which the names of recorded shareholders are