July 14, 2017, at 4.30 p.m., which approved the capital increase of the Company by not more than THB 138,661,211,020, from the existing registered capital of THB 48,775,743,730, to the new registered

Board of Directors’ Meeting of G Steel Public Company Limited (the “Company”) No. 6/2017, held on July 14, 2017, at 4.30 p.m., which approved the capital increase of the Company by not more than THB

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...

targets, while we also gained wide acceptance and recognition at home and abroad, as reflected in the numerous awards we received in 2019. C Contents Page Executive Summary A 1. Overview of Operating

11 December 2019, the company was awarded an honorary award of Sustainability Disclosure Recognition, from Thaipat Institute, that enables stakeholders to grow alongside the company, and in respond to

the same period in 2016. This was due to the termination of the programmed co-production agreement before the due date at the beginning of 2016 but no revenue recognition from other business, which was

leasehold rights transaction was to reduce the cost of the Company incurred from the recognition of project cost since it entered into such lease agreement in 2014. Since then, Project MET has not started any

4 The objective of this termination of the leasehold rights transaction was to reduce the cost of the Company incurred from the recognition of project cost since it entered into such lease agreement

and satisfactory operating performance allowed KBank and K Companies to meet business targets and at the same time gain wide acceptance and recognition at home and abroad, as reflected in the numerous

10110 Tel. 0 2204 2601 Fax. 0 2204 2616 before the due date and no revenue recognition from other business, which was under the consideration of the investment information for the replacement. DCORP had