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

What? We will be hosting a virtual meeting for NSR clients with the CFO of TRUE, Nakul Sehgal on 19th September, Friday. Format will be in a small group setting, with the focus on Q&A.

When? 19th September, Friday, 8am ET / 1pm UK

Why? TRUE had been one of the best performing beneficiaries of consolidation within Emerging Markets as shares doubled in 2024. Year to date however, the shares have barely moved over concerns related to the softer Thai economy and its mobile underperformance due to May's network outage. We still think the company has a long runway, set to benefit from the spectrum savings in the second half and is currently undergoing a growth-focused transformation to capture more of the Broadband and Enterprise market. As performance improves, so would leverage given its capex discipline which should deliver more value to equity investors over time. The stock remains as one of our Top Picks in this space.