True : 700 MHz Spectrum Lice

(Translation)

Ref: TRUE-SEC 037/2563

24th December 2020

President of the Stock Exchange of Thailand

The Stock Exchange of Thailand

Subject: 700 MHz Spectrum License

Reference: Letter of the Company No. TRUE-SEC 029/2562 dated 19th June 2019

As True Move H Universal Communication Company Limited ("TUC"), a 99.99% subsidiary of True Corporation Public Company Limited (the "Company"), received the allocation of the 700 MHz Spectrum of one slot in the bands of 703-713MHz paired with 758-768MHz, with 2 x 10 MHz bandwidth at the Spectrum Licensing price of total Baht 17,584 million on 19th June 2019. The license term will be valid for 15 years with the term of payment of 10 equal installments every year, details are as appeared in the Reference Letter.

The Company would like to notify you that TUC has paid the first installment of the Spectrum License fee in the amount of 10 percent of the Spectrum Licensing price, equal to Baht 1,758.40 million (excluded VAT) and completely fulfilled the conditions precedent as determined by the Office of the National Broadcasting and Telecommunications Commission (the "NBTC"). In this regard, the NBTC would issue the 700 MHz Spectrum License for TUC accordingly.

Please be informed accordingly.

Respectfully yours,

- Signature -

Ms. Yupa Leewongcharoen

Group Chief Financial Officer