Share Capital 1,250.47 1,169.75 1,250.47 1,250.47 Retained Earnings (Deficit) -3,444.25 -3,326.17 -3,191.40 -3,202.63 Treasury Stock - - - - Shares Of The Company Held By Subsidiaries - - - - Other

(Deficit) -2,815.32 -2,822.26 -2,769.01 -2,715.68 Treasury Stock - - - - Shares Of The Company Held By Subsidiaries - - - - Other Components Of Equity 67.24 67.24 67.24 67.24  - Surplus (Deficits

3,921.17 Authorized Capital 3,522.00 3,522.00 3,109.55 2,221.11 Paid-Up Capital 2,871.21 2,871.21 2,871.21 2,221.11 Premium (Discount) on Share Capital - 124.82 124.82 61.30 Retained Earnings (Deficit

(Discount) on Share Capital 724.76 724.76 724.76 724.76 Retained Earnings (Deficit) 2,707.01 2,361.18 2,254.43 2,172.07 Treasury Stock - - - - Shares Of The Company Held By Subsidiaries - - - - Other

Capital 1,315.44 1,315.44 1,315.44 1,315.44 Retained Earnings (Deficit) 340.91 365.78 484.01 505.80 Treasury Stock - - - - Shares Of The Company Held By Subsidiaries - - - - Other Components Of Equity -4.11

, and 3) non-controlling interests of Co-mass of THB 9mn in equity. 2) The Company recognised a deficit from the change in the ownership interests in Multi Sign of THB 173mn after MACO completely acquired

purpose of reducing the deficit in the separate financial statements of the Company. 5 November 2018: U City’s ordinary and preferred shares start trading at new par value. The reverse stock split which

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...

Advance payment for shares - 15,600,000.00 Retained earnings (deficit) Appropriated Legal reserve 527,573.34 527,573.34 Unappropriated 6,568,902.81 2,088,646.63 Other componants of shareholders' equity

reduction for the purpose of reducing the deficit in the separate financial statements of the Company. 5 November 2018: U City’s ordinary and preferred shares start trading at new par value. The reverse stock