True Corporation Offers New Debentures with Interest Rates of [2.85 - 4.30]%, Maintains Strong "A+" Credit Rating; Subscription during August 27-29, 2024

Ms. Yupa Leewongcharoen, Chief Financial Officer (Co) of True Corporation Plc, mentioned that "The company's operations in the first quarter of 2024, following the amalgamation into a new company, has surpassed expectations, focusing on sustainable profitability growth. The company is accelerating synergies from the amalgamation while promoting an organizational culture that enhances operational efficiency and revenue growth. Moreover, stronger revenue streams from mobile, online, and pay-TV services drove improvement in the financial performance when recognizing the benefits from the amalgamation and structural efficiency improvements has positively impacted to operational expenses. Our EBITDA has shown continuous growth for five consecutive quarters, with the first three months of 2024 showing a 21.3% increase compared to the same period last year and a 4.8% increase from the previous quarter. As a result, the company achieved a normalized net profit of 802 million baht in the first quarter of 2024."

True Corporation has 51.1 million mobile subscribers, with 11 million users on 5G, marking a 4.7% increase quarter-on-quarter. It is the largest 5G network provider in Thailand, covering as much as 99% of Bangkok, its metropolitan area, and the Eastern Economic Corridor (EEC), and covering 90% nationwide. This is showcasing continuous modernization efforts not only to enhance service quality but also to optimize energy consumption. This could contribute to achieving climate resilience target which is one important component of the company's sustainability framework solidifying True Corporation's position as Thailand's leading sustainable telecommunications company, ranking the first globally in the DJSI 2023 for the sixth consecutive year in the telecommunications industry category.

The company and its debentures have maintained an "A+" credit rating with a "Stable" outlook from TRIS Rating Co., Ltd., as of July 11, 2024. This reflects its market leadership in the mobile and broadband internet sectors, bolstered by a nationwide network, comprehensive frequency bands, and a well-established brand name. Additional benefits are anticipated from post-amalgamation synergies, enhancing operational efficiency and positioning the company for further improvement in the future.

This debenture is public offering, with maturities ranging from 1 year 3 months to 10 years, catering to investors across all groups. The objectives of this issuance include using the funds raised to repay outstanding debts. The debentures are unsubordinated and unsecured with a debentureholders' representative, and coupons are payable every 3 months. The debenture subscription period is scheduled to be during August 27-29, 2024, with a minimum subscription amount of 100,000 baht and increments of 100,000 baht. The issuance consists of 5 tranches as follows:

• 1st Tranche: 1 year 3 months tenor with a fixed interest rate of [2.85 - 2.95]% per annum.
• 2nd Tranche: 2 years 5 months 29 days tenor with a fixed interest rate of [3.45 - 3.55]% per annum.
• 3rd Tranche: 3 years 3 months tenor with a fixed interest rate of [3.65 - 3.75]% per annum.
• 4th Tranche: 5 years 3 months tenor with a fixed interest rate of [3.95 - 4.05]% per annum.
• 5th Tranche: 10 years tenor with a fixed interest rate of [4.15 - 4.30]% per annum, with a call option since the 5th year.

The company is currently in the process of filing a registration statement and draft prospectus, which are not yet effective and are pending approval by the Securities and Exchange Commission (SEC). Interested investors can find more details about the debenture offering and draft prospectus at www.sec.or.th. For additional information, please contact the seven joint lead arrangers listed below:

• Bangkok Bank Plc, all branches (excluding Micro Branch), or call 1333, or book online via Bangkok Bank Mobile Banking.
• Kasikornbank Plc, all branches, call 02 888 8888 ext. 869, or book online via Kasikornbank (excluding foreign nationals and legal entities; available through main and branch offices of Kasikorn Securities Plc).
• Siam Commercial Bank Plc, all branches, call 02 777 6784, or book online via SCB EASY app, including InnovestX Securities Co.,Ltd as an agent of Siam Commercial Bank Plc.
• CIMB Thai Bank Plc, all branches, call 02 626 7777, or book online via CIMB Thai app.
• United Overseas Bank (Thai) Plc, all branches, call 02 285 1555.
• Asia Plus Securities Co.,Ltd., call 02 680 4004.
• Kiatnakin Phatra Securities Plc, call 02 165 5555, or book online via Dime! app, including Kiatnakin Phatra Bank Plc as an agent of Kiatnakin Phatra Securities Plc.

For those interested in subscribing via the TrueMoney Wallet, more information and instructions on how to apply for the TrueMoney Wallet Application and how to subscribe debentures can be found at www.truemoney.com. For assistance with the application process, contact the staff of True Money Co., Ltd. at Tel. 1240, press 6.

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