EVENT

# CALL INVITE # CLIENT CALL with CFO of TRUE Nakul Sehgal

Date and Time
June 9, 2026 — 8am ES
Location
Virtual

We will be hosting a virtual meeting for NSR clients with the CFO of TRUE, Nakul Sehgal on 9th June, Tuesday. Format will be in a small group setting, with the focus on Q&A.

Despite Telenor’s exit, TRUE has been one of the best performing Emerging Market Telcos so far this year, with shareholder remuneration flowing well ahead of expectations. We still think the company has a long runway, as it continues to deliver on post-merger synergies and hands sharply growing cash flow back to shareholders. As performance improves, so should leverage given its capex discipline which should deliver more value to equity investors over time. The stock remains one of our Top Picks in this space.​​​​​

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