True : with Credit Rating ‘A+’ to Issue 5 New Tranches of Debentures with Coupon Ranging from 2.95% to 4.30% p.a. for tenors 1 Year 3 Months to 10 Years; Offerings Scheduled from May 23rd to May 27th, 2024

10 May 2024

Bangkok, May 10, 2024 - True Corporation Plc (TRUE), Thailand's leading telecom-tech company and ranked number one in the world for DJSI 2023 index in the telecommunications industry for the 6th consecutive year, announces the debentures issuance with fixed coupon rates between 2.95% to 4.30% per annum. The offering includes five tranches of debentures with tenors from 1 year 3 months to 10 years, designed to cater all groups of investors. The company's credit rating remains strong at "A+" with a "Stable" outlook, as rated by TRIS Rating, reflecting True Corporation's competitive edge in both telecommunications and digital technology businesses. The expected subscription period is from May 23rd to May 27th, 2024. Investors can subscribe through the Joint Lead Arrangers including Bangkok Bank, Kasikorn Bank, Siam Commercial Bank, CIMB Thai Bank, United Overseas Bank (Thai), Asia Plus Securities, and via the TrueMoney Wallet application.

True Corporation Plc has filed the registration statement and draft prospectus to the Office of the Securities and Exchange Commission (SEC) and aims to launch a public offering of these new sets of debentures. Which are unsubordinated and unsecured, with a debentureholders' representative. The subscription is expected to take place from May 23rd to May 27th, 2024. During Saturday, May 25th and Sunday, May 26th, 2024, the subscription will be available through online channels of Bangkok Bank and Siam Commercial Bank only. The minimum subscription amount is 100,000 baht, with multiple of 100,000 baht for retail investors .

Continuous Investment Opportunities Following Maturity of TRUE and TUC debentures on May 13th, 19th, and 24th.

Ms. Yupa Leewongcharoen, Chief Financial Officer (Co) of True Corporation Plc said that "The objective of this debenture offering is to repay matured debentures and/or fund the working capital to support the company's growth. The company plans to redeem its existing debentures due on May 13th, 2024, and those of True Move H Universal Communication Co., Ltd. (TUC), a wholly owned subsidiary of True Corporation, which is due on May 19th and 24th, 2024. and provide the opportunity for investors to reinvest by subscribing the new TRUE debentures, which is expected to open for subscription from May 23rd to 27th, 2024. The new TRUE debentures offer tenors ranging 1 year 3 months to 10 years to accommodate the preferences of all groups of investors. Short-term investors may prefer short tenors ranging from 1 year 3 months to 3 years 3 months, while medium-term option of 5 years 3 months is also available. For those seeking long-term investments and more interest income, the 10-year tenor could be more attractive due to its higher yield."

Moreover, debenture holders with maturing TRUE and TUC debentures in May 2024 would have the attractive opportunity to reinvest at potentially favorable rates. This opportunity arises because central banks like the Federal Reserve, the European Central Bank, and the Bank of England are still signaling interest rate cuts in response to slowing inflation. This makes fixed-return investments such as debentures to be more pleasant before the actual policy rates may be latterly cut.

TRUE Debenture Offering Presents an Attractive Investment Opportunity with Anticipated Strong Investors' Interest

The company believes the five tranches of debentures offering in this coming May 2024 will extract strong investors' response. This debenture offering highlights its appeal to investors seeking stable returns amidst the volatile bond market and the potential interest rate cuts in late 2024, presenting an opportunity to lock in long-term yields for the investors.

Both the company and its debentures have been rated "A+" with a "Stable" outlook by TRIS Rating on March 29th, 2024. This rating has proven the improvement in the financial risk status and the strengthened market position of the company in the mobile and broadband industries with nationwide network coverage upon a completed set of spectrums together with the trustworthy brand. Moreover, TRUE's diverse range of products and services, strong business partnerships, and the commitment to sustainability are all key and fundamental factors that promote TRUE being as the No. 1 telecom-tech company in Thailand.

The interest rates of the five new series of TRUE debentures are as follows:

1st Tranche: 1 year 3 months tenor with a fixed coupon rate of 2.95% per annum.

2nd Tranche: 2 years 6 months tenor with a fixed coupon rate of 3.51 % per annum.

3rd Tranche: 3 years 3 months tenor with a fixed coupon rate of 3.70% per annum.

4th Tranche: 5 years 3 months tenor with a fixed coupon rate of 4.00% per annum.

5th Tranche: 10 years tenor with a fixed coupon rate of 4.30% per annum, with a call option since 5^th year

True Corporation is currently in the process of filing a registration statement and the draft prospectus, which are not yet effective and are pending approval by the Securities and Exchange Commission (SEC). Interested investors can find more information in the draft prospectus at www.sec.or.th and are able to obtain further information from the Joint Lead Arrangers, including:

• Bangkok Bank Public Company Limited (except Micro Branch), or call 1333, or subscribe online via Bangkok Bank Mobile Banking.
• Kasikornbank Public Company Limited, or call 02 888 8888, press 819, or subscribe online at https://www.kasikornbank.com/kmyinvest (excluding foreigners and corporate customers, who can subscribe through main branches and branches). Kasikorn Securities Company Limited acts as the selling agent for Kasikornbank Public Company Limited.
• Siam Commercial Bank Public Company Limited, or call 02 777 6784, or subscribe online via the SCB EASY app. Innotech Securities Company Limited acts as the selling agent for Siam Commercial Bank Public Company Limited.
• CIMB Thai Bank Public Company Limited, or call 02 626 7777, or subscribe online via the CIMB Thai Digital Banking app.
• United Overseas Bank (Thai) Public Company Limited, or call 02 285 1555.
• Asia Plus Securities Company Limited, or call 02 680 4004.

For those interested in subscribing for debentures via the TrueMoney Wallet application, additional information on registration and subscription procedures can be found at www.truemoney.com or by contacting True Money Co., Ltd. at 1240, press 6.