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...

: The company is engaged in manufacturing operations for ladies’ apparel products, covering the range of ladies’ lingerie, ladies’ outerwear, and childrenwear, with ladies’ lingerie category serving as

personality, confidence and elegant beauty of the ladies. The Company has know-how and is specialize in this business filed. In order to give response to the demand consumers’ demand that have more variety