True : Telenor Group Welcomes True Corp. Board and Executive Management team to Norway

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Telenor Group Welcomes True Corp. Board and Executive Management team to Norway

07 June 2024

Bangkok, June 7, 2024 - The Board of Directors and the Executive Management Team of True Corporation visited Telenor Group headquarters in Norway to study digital service innovations and how the latest technology advancements are implemented in the Nordic markets. Telenor together with CP Group are the largest shareholders in True Corporation with 30.1 percent ownership each.

The study trip agenda was designed to foster knowledge sharing and provide the participants with insights from operational use cases and deep dives in future networks, artificial intelligence, responsible business practices and opportunities beyond connectivity.

Suphachai Chearavanont, CEO of CP Group and Chair of True Corporation Board of Directors, and Sigve Brekke, President and CEO of Telenor Group also met with The Norwegian Ministry of Trade, Industry and Fisheries, and with the Norwegian Confederation of Enterprise (NHO) to exchange views on how to develop and strengthen business ties between Thailand and Norway.

"Thailand is undergoing significant digital transformation, where ecosystems are being created for digital technologies to thrive and help Thailand to become a regional digital hub. The global landscape is changing rapidly, in addition to digitalization, we are faced with challenges posed by deglobalization and decarbonization, or the so-called 3D challenges. Global telecom-tech leaders such as True Corporation must continuously evolve and be prepared for responding to these challenges effectively. We must identify practical and efficient digital solutions to support the national decarbonization needs, and to navigate Thailand through global supply chain realignment. On top of it all, we must work hard to deliver both innovative and sustainable new digital lifestyle to our customers. With Telenor as our industrial partner, this study visit is a good opportunity for True to tap into a vast library of international telecom experience and access its global base of over 250 technology use cases. I am confident that our strategic partnership with Telenor will foster growth of Thailand's digital economy," said Suphachai Chearavanont, CEO of CP Group and Chair of True Corporation's Board of Directors.

"Telenor is committed to bring learnings and experiences from our global operations to Thailand. True aims to be a digital frontrunner leading Thailand's digital transformation, and we believe that cross border collaboration will support the company in reaching its strategic ambition and provide inspiration for development of new services that benefit Thai customers and enterprises. I am pleased to host True at our offices in Norway for valuable and constructive exchange of ideas and insights," said Sigve Brekke, President and CEO of Telenor Group.

One year after the merger of True and dtac, True Corporation is emerging as the leading provider of 5G data services in Thailand. With its superior single-grid network, the company is modernising and optimising its infrastructure, providing a springboard for growth beyond connectivity, driving development in IoT, cybersecurity, and smart solutions for Thai enterprises and key industries.

To explore 5G enterprise opportunities, the True executive management visited Horten harbour for a showcase of how 5G deployed in the maritime sector enables autonomous ships. The delegation also visited the Radium Hospital, a top cancer treatment hospital, to witness how the integration of 5G and IoT can transform the healthcare sector with fast and reliable communication between medical personnel and healthcare equipment, also providing secure solutions for remote surgery, telemedicine and real time patient monitoring.

True Corporation has earlier this year announced ambitious plans for adopting Artificial Intelligence (AI) to build better customer experiences, improve service offerings and uplift Thailand's productivity. Telenor Group established its first AI Lab in 2012 and has contributed to drive the AI agenda in Europe and the Nordics. Recently, Telenor announced its AI First ambition and a collaboration with NVIDIA that enables the telecom group to become a sovereign AI cloud partner, leveraging NVIDIA's expertise in AI, cloud and network technologies.

About Telenor Group

Telenor Group is a leading telecommunications company across the Nordics and Asia with 158 million subscribers and annual sales of around USD 9.9 billion (2022). We are committed to responsible business conduct and driven by the ambition of empowering societies. Connectivity has been Telenor's domain for more than 165 years, and our purpose is to connect our customers to what matters most. Telenor is listed at Oslo Stock Exchange under the ticker TEL. For more information, seewww.telenor.com

About True Corporation

True Corporation's vision is to be Thailand's leading telecom-tech company, advancing the lives of Thai people sustainably and propelling businesses to the forefront of the digital economy. True Corporation empowers people and businesses with connected solutions that advance society sustainably. True's world-class voice and data services enable a lifestyle ecosystem of global entertainment, exclusive privileges, and seamless connectivity. Through our AI-augmented innovation, we contribute to a more productive, healthier, and safer world. True Corporation topped the Dow Jones Sustainability Indices (DJSI) 2023 with the world's highest score in the telecom industry category for the sixth consecutive year. This is why over 50 million customers trust True Corporation to stay connected and capture new opportunities at home, at work or on the go. For more information, see www.true.th

• Telenor Group

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