True : Appendix 4 Operating Assets and Overview of Allocation of Income, Taxes and Business Activities by Tax Jurisdiction

True Corporation Public Company Limited

Annual Report 2023 (Form 56-1 One Report)

Appendix 4 Operating Assets and Overview of Allocation of Income, Taxes and Business Activities by Tax Jurisdiction

1. The Company and Subsidiaries' Major Assets

1.1 Property, plant and equipment

As at 31 December 2023, the Group have property, buildings and equipments used in business operations divided into 9 types.

Property, plant and equipment according to the consolidated financial statements amounting Baht 222,628 million or 29.89% of total assets. The details are as follows:

		Net Book Value as at
	List of assets	31 December 2023	Nature of holding	Commitment
		(Baht Million)
1.	Land and land improvement	2,389	Ownership	Nil
2.	Building and improvement	2,474	Ownership	Nil
3.	Wireless network equipment	110,253	Ownership	Nil
4.	Multimedia network equipment	55,469	Ownership	Nil
5.	Power supply and computers	1,424	Ownership	Nil
6.	Pay - TV	918	Ownership	Nil
7. Furniture, fixtures and equipment	1,349	Ownership	Nil
8.	Vehicles	6	Ownership	Nil
9.	Work in progress	48,346	Ownership	Nil
	Total	222,628

1.2 Right-of-use assets

As at 31 December 2023, the Group have right-of-use assets used in business operations divided into 4 types.

Right-of-use assets according to the consolidated financial statements amounting Baht

99,578 million or 13.37% of total assets. The details are as follows:

		Net Book Value as at
	List of assets	31 December 2023
		(Baht Million)
1.	Properties	4,389
2.	Network equipment	93,700
3.	Lease transponder	174
4.	Vehicles	1,316
	Total	99,578

Appendix 4	Operating Assets and	Page 1
	Overview of Allocation of Income, Taxes and Business Activities by Tax Jurisdiction

True Corporation Public Company Limited

Annual Report 2023 (Form 56-1 One Report)

1.3 Intangible assets

As at 31 December 2023, the Group have intangible assets used in business operations divided into 6 types.

Intangible assets according to the consolidated financial statement amounting Baht

142,850 million or 18.44% of total assets. The details are as follows:

		Net Book Value as at
	List of assets	31 December 2022
		(Baht Million)
1.	Cost of Computer Software	17,962
2.	Trademark, Right and Licence	112,604
3.	Film and Program right	1,792
4.	Customer relationships	5,571
5.	Branding	2,229
6.	Work in progress	2,692
	Total	142,850

Trademark, Right and license mainly consisting of

Spectrum License

As at 31 December 2023, the net book value of spectrum licence according to the consolidated financial statement amounting to Baht 107,988 million.

Rights

As at 31 December 2023, the net book value of rights according to the consolidated financial statement amounting to Baht 4,616 million, which right consist of trademark, etc.

2. Policy for Investment in Subsidiaries and Associated Companies

The Company has an investment policy to directly invest in subsidiaries and associated companies as a major shareholder or invest through a subsidiary owned more than 90% of the total issued shares and/or have controlling power in those invested entities. In case conditions, competition in the market does not allow the Company to do so or the business operation need support from business partner, the Company will invest in the form of associated company. In this regard, the Board of Directors has mechanisms to supervise the business operation of subsidiaries and associated companies in order to preserve the interests in the investments as disclosed in "Report on Key Operating Results on Corporate Governance" under the topic of "Monitoring of the Operation of the Company's Subsidiaries and Affiliates".

Appendix 4	Operating Assets and	Page 2
	Overview of Allocation of Income, Taxes and Business Activities by Tax Jurisdiction

True Corporation Public Company Limited

Annual Report 2023 (Form 56-1 One Report)

Overview of allocation of income, taxes and business activities by tax jurisdiction

For the period from 1 March 2023 (Date of amalgamation) to 31 December 2023

		Currency: Baht Million
Tax Jurisdiction	Revenues	Profit (Loss) Before	Income Tax Paid	Income Tax
	Income Tax	(on cash basis)	Accrued - Current Year

Number of Employees *

Thailand		168,529		(12,551)		1,922		852			9,074
Foreign entities	545	(177)	4	-			267
* Number of full-time employees for True Corporation Public Company Limited and its subsidiaries as at 31 December 2023

Appendix 4	Operating Assets and	Page 3
	Overview of Allocation of Income, Taxes and Business Activities by Tax Jurisdiction