The Board of Directors' meeting of STP&I Public Company Limited (the "Company" or "STPI") No. 3/2022 held on May 18th, 2022 has resolved to approve the establishment of a joint venture company is Sino Power Co. Ltd. registered capital amount THB 60 million by investing in cooperation with PowerVault (Thailand) Co.

Ltd. ("PV") in the proportion of 60:40% of the total shares. To expand the investment scope to support the growth of the renewable energy-related market such as PPA of Solar Roof and Solar Farm and leverage the risks of the company's operations Details are as follows: The Board of Directors has resolved to approve held on May 18th, 2022 and expected to register the company establishment within May 2022. Name of company to be invested in: Sino Power Co.

Ltd.