Basic Information

STP&I Public Company Limited was established in 1975 and has over 51 years of experience in the steel fabrication business. Currently, the company operates in the fabrication and installation of steel structures, piping systems, and modules for the construction industry, basic infrastructure systems, power plants, oil refineries, gas separation plants, large industrial factories, buildings, and all types of demolition work related to the oil, natural gas, and petroleum industries, which are considered the company’s core businesses. Its main production bases include a steel structure fabrication plant in Chonburi Province, a steel structure fabrication plant in Rayong Province, a pipe fabrication plant in Si Racha District, and a module fabrication plant at Laem Chabang Port, Chonburi Province, with a total production capacity of approximately 100,000 tons/year. In 2025, the company utilized approximately 60% of its total production capacity.

Currently, the company is driving its group businesses with a sustainability concept, focusing on continuous revenue generation. Therefore, it has expanded into the real estate development and logistics business groups, focusing on commercial and industrial sectors. It has also invested in renewable energy businesses, namely wind and solar power. In 2025, the company’s revenue from electricity sales and related services, combined with revenue from property rentals, accounted for 15% of its total revenue. This represents an 85% increase in revenue compared to 2024, with a long-term upward trend.

To support the expansion of new businesses that will create sustainability for the organization, the company currently has a shareholding structure where it holds 14 subsidiaries, 2 joint ventures, and 1 associate company.

Mission

STP&I strongly engages in mega steel construction for construction business including machinery and equipment for construction business

Vision

To be a leader in steel construction module for export especially in energy sector and to continue sustainability growth which create value added to all parties

Corporate Objective / Goal

Operate the business with the aim of becoming a leader in the production of large-scale steel structure fabrication with international standards, to support large projects worldwide, by continuously focusing on competitiveness and development in various areas as follows:

1. To satisfy customer on production aspect;

• Standardized quality of products
• On time delivery
• Budget control
• Without loss time injury

2. Sustainable growth by seeking business opportunities with growth potential and the ability to generate continuous income.

• Focus on investing in energy businesses that provide stable and continuous returns.
• Focus on maximizing the management and development of the company’s real estate and investing in projects that generate continuous income.

3. Sustainable organizational development, focusing on economic, social, and governance aspects, including environmental considerations.

Strategy

The company’s strategies for sustainable and stable organizational growth are as follows:

1.Strengthening the core business: large-scale steel structure fabrication.

The company focuses on creating customer satisfaction in terms of both product quality and standardized services, ensuring on-time delivery, and emphasizing safety, accident-free operations (without lost-time incidents), a good environment, and social responsibility. It also efficiently manages project contracts and controls budgets, while maintaining financial stability.

2. Diversifying and ensuring continuous revenue streams.

The company aims to seek new business opportunities to generate continuous revenue by expanding its growth in renewable energy businesses and real estate development and logistics businesses to diversify business risks. This includes establishing dedicated subsidiaries for appropriate management tailored to each business type, and forming joint ventures with experienced companies in those respective businesses to collaboratively develop and continuously grow these ventures.

3. Sustainable organizational development focuses on economic, social, and corporate governance aspects, including emphasizing environmental concerns.

In addition to strengthening its economic position, the company emphasizes sustainable organizational development in environmental, social, and corporate governance aspects. This involves ensuring operations comply with environmental laws, promoting employee awareness of environmental and social issues, and fostering good corporate governance by communicating important policies to employees for their awareness and compliance.

By 2025, the company will be able to execute steel structure fabrication projects with quality in accordance with the standards specified by each client, without significant quality complaints. Work will be delivered within the agreed timeframe with clients, and workplace safety will be maintained with no lost-time incidents. The company will comply with all relevant laws and environmental regulations, engage in various activities with surrounding communities, and control project budgets as planned and appropriately, in order to sustain revenue growth and achieve target returns.

Furthermore, the company recognizes the importance of continuous revenue growth in its operations, as follows:

Investment in renewable energy businesses.

• Investments in solar power generation, both in the form of Power Purchase Agreements (PPA) and Engineering, Procurement, and Construction (EPC) contracts, have also seen increased revenue growth.
• Wind energy, with a 15% investment in the 600 MW MONSOON wind power plant, has been able to sell electricity since the end of Q3/2025, allowing the company to start receiving returns from this investment.

Investment in real estate development and logistics businesses.

• This will focus on expanding warehouses with long-term lease agreements that meet customer needs, which have seen only slight expansion.

The company also emphasizes maximizing the utility of its existing land by studying business segments that offer appropriate returns on investment given the current competitive landscape. Therefore, the company has conducted a detailed study on the data center business, which combines the development of its existing land with a globally trending business, along with opportunities in renewable energy. Greater clarity on this will be seen in 2026.

Business Goal, Environmental and Social Goal

The company is aware of its operations. to have continuous income growth Including expanding investment in new businesses to diversify business risks and create continuous income and to have operations that focus on safety, the environment, and good society Policy, guidelines, follow-up and development in safety are established. Environment and Society Provide knowledge and training on safety and the environment Campaigning for everyone to participate in reducing environmental impacts.

In 2023, the company continues to be a leader in the large steel structure fabrication business by continuously receiving project work and has continued income until the present. In addition, the company has implemented its goals and strategies. in expanding business to the renewable energy business and property development and logistics businesses. It is considered a risk distribution for the group of companies as well as effectively maintaining the company’s financial liquidity.  Since the company has established 3 subsidiaries in overseato support investment in the MONSOON wind power plant 600 megawatts, and establish a company in 2023 and invest in the business of producing electricity from solar energy in Thailand. In addition, there is an expansion of Ready Built warehouse rental space in Khon Kaen province. Details as shown in the topic important changes and developments in 2022-2023.

Information on products and services

Product/service information and business innovation development

1.Steel Structure Fabrication

• Fabrication Structure Steel (Contract Manufacturing)

The company’s business involves the fabrication and construction of steel structures in large industrial plants, gas separation plants, oil refineries, high-rise buildings, airports, and bridges, among others. The scope of work can be categorized into 3 main types as follows:

1. Engineering Service:  The Company provides engineering services for detail design of steel-to-steel connection, shop drawing for steel structure, spool drawing, and erection drawings by various special softwares. All the engineering works are performed by the in-house professional and experienced engineers.

2. Fabrication:  The Company provides fabrication services and has the capability to fabricate steel structure and pipe spool in workshop which equipped with state of the art equipment and CNC machines to ensure the high quality & efficiency of fabrication processes, including the cost effective.

3. Construction: STP&I’s construction works include Steel Structure, Piping and mechanical equipment installation and erection for various manufacturing plants. The Company performs construction works at the client’s project site and also module construction at the Company’s facilities prior transportation to the client’s project site.

Company Products can be categorized into 3 groups.

1. Steel Structure

Company provides the fabrication and erection of Steel Structure made from steel plates and steel sections which procured from both domestic mills and import from overseas. Main products are the heavy fabricated structure such as.

1.1 Steel structures for the medium-scale and large-scale  industrial plants such as gas separation plant, power plant, oil refinery and petrochemical plant, etc. including the steel structure which are installed as a part of Module.

1.2 Steel Structure for building such as high–rise building, airport terminal, gymnasium  and roof structure.

1.3 Steel Structure for infrastructure such as bridge, elevated road, railway, monorail etc.

2. Piping: STP&I has expertise in piping fabrication which are essential parts in the production process of industrial plants such as power plants, oil refineries, petrochemical plants, offshore process plants, etc.. The pipe spool fabrication is carried out at the Company’s facilities, then the pipe spool will be transported to the project site for installation or transported to STP&I’s Laem Chabang Assembly yard to be installed in the Module. Company supply pipe spool for various projects both in Thailand and overseas.
3. Module: STP&I expands its business to Process Module assembly. The Company’s assembly yard location is nearby the sea port which is convenient for the transportation by sea of the large module to the project site in both domestic and overseas. Module is a large-unit structure comprises steel structure, piping system, equipment such as boiler, pressure vessels, machinery, includes electrical and controlling system for various industries. Module mostly used in both onshore and offshore construction such as oil and gas platform or large projects that have limitation on working area or high labor cost or time constraint.

• Fabrication Structure Steel (Sales and Services related to Steel Structure Fabrication)

1. Demolition of all types of structures related to the oil industry. Natural gas and petroleum, such as offshore structures, onshore structures, pipelines, petroleum storage facilities, amenities, equipment, and any other materials used in the exploration, production, storage, transportation, sale, or distribution of petroleum.

2. Renewable Energy Business

Currently, the company has expanded its investments in community waste-to-energy, wind power, and solar power businesses as follows:

• Community Waste-to-Energy Power Plant under WPGE Phetchaburi Co., Ltd.

Community Waste-to-Energy Power Plant, located in Tha Laeng Subdistrict, Tha Yang District, Phetchaburi Province, with an approximate generating capacity of 7.9   megawatts, with a project value of approximately 1,800 million Baht. A power purchase agreement was signed with the Provincial Electricity Authority for 5.99   megawatts. The standard contract is renewed every   5   years, receiving an electricity tariff with an Adder of 3.50   Baht/kWh for a period of 7 years.

During 2019   construction of the power plant was temporarily halted due to a dispute with the power plant’s design and construction contractor. This dispute was resolved in 2023. Currently, the power plant is undergoing renovation to be operational as intended, with commercial operation and electricity sales expected to commence by 2026.

• Wind Power Plant under investment through Impact Monsoon Holdings Limited (“IMH”)

Project Monsoon  with a generating capacity of 600 megawatts, is the largest wind power plant project in Southeast Asia and the first cross-border power plant in Asia. It is located in Sekong and Attapeu provinces in southern Lao PDR, producing and selling electricity to Electricity of Vietnam (EVN) in Vietnam. The company has invested indirectly through IMH.   in the amount of USD 44.2 million, or equivalent to 1,531   million Baht and equivalent to being the ultimate shareholder.   (Ultimate Shareholder)   a proportion of 15.87 percent   of the paid-up registered capital, and has commenced commercial operation since August 22, 2025.   Contract period: 25   years

• Solar Power Plant under investment through  2 subsidiaries, namely Impact Solar Group (Thailand) Co., Ltd. (ISGT) and Impact Solar Co., Ltd. (ISL), and 1 associate company, namely Sinopower Co., Ltd. (SP)

– operates a business producing and selling electricity from rooftop solar power (Solar Rooftop) to private entities (Private Power Purchase Agreement). This model involves installing solar cells on rooftops where electricity users do not need to invest in the installation themselves. The service provider will invest, design, install, and maintain the entire system. The building owner’s only responsibility is to provide roof space and enter into a long-term agreement to purchase the generated electricity at a pre-agreed price (often lower than normal electricity rates), for example, 10–25 years. Upon contract completion, the electricity user may have the right to purchase the system at an agreed price or extend the contract, depending on the terms specified in the agreement.

– contracting for the installation of solar power generation systems on rooftops (Solar Rooftop) and Solar Farms

3. Real Estate Development and Logistics Business

The company operates in real estate development for rent and services through investments in 4 subsidiaries and 1 associate company.   locations as follows:

Projects and land for development under the management of the subsidiary, ST Property and Logistics Company Limited.

• Lam Luk Ka Factory and Warehouse is a factory and warehouse built to construction standards and custom-designed to meet specific requirements, with a total leasable area of 30,189 square meters, located in Lam Luk Ka District, Pathum Thani Province.
• Bang Na Km. 19 is a vacant land awaiting development, privately owned with a land use plan designated for industrial use, suitable for factory and industrial construction. It has an area of approximately 10 rai, located in Bang Chalong Subdistrict, Bang Phli District, Samut Prakan Province.
• Bang Na Km. 22 is a vacant land awaiting development, under a 30-year leasehold right, with a land use plan designated for industrial use, suitable for factory and industrial construction. It has an area of approximately 27 rai, located in Bang Sao Thong Subdistrict, Bang Sao Thong District, Samut Prakan Province.

Development projects under the management of a subsidiary of ST Property and Logistics Company Limited, namely Growth Warehouse Company Limited.

Operates in real estate for warehouse rental as a distribution center, supporting E-Commerce businesses in Khon Kaen Province, Northeastern Thailand. Total leasable area of 38,448 square meters, located at 1) Samran Subdistrict, Mueang District, Khon Kaen Province, 2) Samran Subdistrict, Mueang District, Khon Kaen Province, and 3) Nong Nam Sai Subdistrict, Ban Phai District, Khon Kaen Province. Currently, additional warehouses for rent are under construction in Nong Ngu Lueam Subdistrict, Chaloem Phra Kiat District, Nakhon Ratchasima Province, with a leasable area of 15,120 square meters. Rental income is expected to be recognized starting from Q3 2026 onwards.

Projects under the management of an associate company, KTBST Mixed Real Estate Investment Trust and Leasehold Rights (“KTBSTMR”). as follows:

Provides project management services by ST Property and Logistics Company Limited.

• ST Bang Pa-in Warehouse: Factory and warehouse for rent, available in various sizes, with a total leasable area of 43,270 square meters, located in Bang Pa-in District, Phra Nakhon Si Ayutthaya Province.
• ST Bang Bo Warehouse: Warehouse for rent, available in various sizes, with a total leasable area of 37,656 square meters, located in Bang Bo District, Samut Prakan Province.

Managed by ST Hill Company Limited.

• The Summer Hill Project is a Community Mall (Summer Hill), a hub for various lifestyle shops such as coffee shops, restaurants, fitness centers, etc., with a total leasable area of 4,988 square meters, Khlong Toei District, Bangkok. Location: Summer Hill Project: 1106 Sukhumvit Road, Phra Khanong, Khlong Toei, Bangkok 10110 Tel: +66(0) 2392-6810

Provides project management services by ST Hub Company Limited.

• The Summer Hub Project is an office building (Summer Hub), a 6-story contemporary office building with a total leasable area of 5,147 square meters, located at the intersection of Sukhumvit Road and Rama IV Road, near Phra Khanong BTS Skytrain Station. Summer Hub Project: 1778 Sukhumvit Road, Phra Khanong, Khlong Toei, Bangkok 10110 Tel: +66(0) 2392-6810

The company’s research and development policies:

Given that the company’s work involves manufacturing and providing services according to diverse customer requirements, without a clear product format, the company therefore focuses on developing its operational processes, starting from:

– Procurement of raw materials and equipment: Establishing a team to study and procure sufficient and high-quality raw materials and equipment for operations, ensuring quality products, timely delivery, and appropriate pricing.

– Reducing work steps and duration by applying lessons learned from past projects to study and identify improvements for future projects, and communicating these with relevant stakeholders.

– Focusing on personnel development, especially for skilled operational labor positions, to enhance their versatility. This aims to support departments that may require short-term labor, thereby reducing the need for additional new hires, which would incur higher costs.

Given the nature of the company’s main products, which include steel structures, pipe fabrication, and modular plants, there is no fixed design. Products are manufactured according to customer designs, which depend on the type of customer project, such as steel structures for high-rise building projects, bridge construction projects, piping for gas or oil pipeline systems in petrochemical plants, or modular plants for liquefied natural gas (LNG) production, hydrogen production, or ammonia production processes, among others. In this business, customers select contractors based on their ability to successfully complete work and pass quality inspections, the company’s experience, personnel experience, labor skills, production capacity, and safety standards, rather than solely on the product itself. The company has presented the aforementioned information, along with all services it can provide, on its website. Customers can access this information and contact the company’s marketing department via the contact person listed on the website to request further details as needed, such as production capacity, ability to procure raw materials according to project specifications (as defined by the customer), workspace and machinery capable of supporting customer projects, experience, and past performance. The marketing department will then provide additional information in document files to customers based on the project type and customer requirements.

Furthermore, most of the company’s clients are repeat customers with whom we have previously collaborated, or who know the company through its reputation and experience from projects delivered worldwide. Consequently, the marketing department often receives direct contact from clients when new projects arise, given that the company’s work involves manufacturing and providing services according to diverse customer requirements, without a clear product format.