incoming tourists due to the relaxation of government measures against COVID-19, as a result more customers are eating-out and having desserts. R E V E N U E : • The Company’s Gross Profit in Q4/2022 and

customers, the new store can also adjust the concept of After You, which formerly is a dessert shop that focuses on sitting and eating, into a new store concept that encourage customers to walk around and

of dessert cafés, which accounts for the largest share of revenue. The growth in sales of dessert cafés was mainly due to the improving COVID-19 situation, as a result more customers were eating-out

eating-out and having desserts. The increase was also due to the growth in the number of branches and the recovery of incoming tourists. R E V E N U E : • The Company’s Gross Profit in Q3/2022 and 9M/2022

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...