TPL Announces Strategic Project Synergy Move to Transform into a Nationwide Integrated Mobility Platform

Bangkok, May 28, 2025 – Thai Parcel Public Company Limited (TPL) announced the resolutions of its Board of Directors' Meeting No. 5/2025, held on May 28, 2025, to the Stock Exchange of Thailand. The key agenda focused on the launch of Project Synergy Move, a major strategic initiative aimed at elevating TPL from a traditional parcel delivery service provider into an integrated transport and mobility platform. This transformation is achieved through strategic partnerships with two key allies: First Transport Group (FT) and Chalermpat Corporation Co., Ltd. (CPC). The goal of this initiative is to create a unified system that connects personnel and services across the industrial, tourism, and parcel delivery sectors under a single mobility infrastructure. First Transport Group (FT) is a comprehensive tourism and transport service operator, providing offerings such as car rental, coach services, GPS systems, and maintenance centers. FT is well-positioned for future growth, with infrastructure such as the YUTONG Service Center and a centralized data platform. Meanwhile, Chalermpat Corporation (CPC) specializes in long-established employee shuttle services within industrial estates, with a steady income stream from long-term contracts. Mr. Chaiphiphat Kaewtrairat, Chief Executive Officer of TPL, stated, “Project Synergy Move represents a strategic advancement that integrates the strengths of all parties—transport technology, service networks, human resources, and customer bases—into a new platform that fully serves the needs of parcel delivery, employee transportation in the industrial sector, and both B2B and B2C mobility solutions.” “TPL is evolving beyond traditional large-parcel logistics into a new identity: ‘Smart Logistics + Human Mobility + Digital Transport’—a fully integrated ecosystem of platforms, services, and infrastructure under one group, ready to support the future of transportation in every dimension.” By combining TPL’s existing network with its strategic partners, the group will operate over 1,500 service vehicles and employ more than 1,000 personnel, supported by advanced maintenance facilities, electric vehicle (EV) systems, artificial intelligence (AI) capabilities, and a centralized data hub. This synergy is expected to enhance internal capabilities and contribute an EBITDA of no less than THB 340 million per year. It will also allow TPL to expand its customer base, penetrate new industrial sectors, and support long-term, sustainable growth. The company estimates that Project Synergy Move will increase TPL’s Enterprise Value to approximately THB 2.89 billion, driven by the expanded fleet of over 1,500 passenger transport vehicles. This consolidation will enhance bargaining power in fuel procurement, spare parts, insurance, and enable efficient sharing of maintenance resources. As a result, TPL projects annual revenue to exceed THB 2 billion, with a target EBITDA of around THB 340 million within two years. “‘TPL powers every movement in life’ is not just a slogan—it defines our renewed vision to become Thailand’s national platform for transport and human mobility. We aim to sustainably connect the industrial, tourism, and logistics sectors through cutting-edge technology and data integration,” Mr. Chaiphiphat emphasized. To support this transformation, the Board of Directors has resolved to propose the matter to the Extraordinary General Meeting of Shareholders No. 1/2025, scheduled for August 15, 2025, seeking shareholder approval for the acquisition and related funding preparation. Capital will be raised through two channels: a Rights Offering to existing shareholders and a Private Placement, alongside a Share Swap arrangement to fund Project Synergy Move. These measures aim to reinforce the company’s financial strength and support sustainable and efficient growth of the new platform—contributing to long-term stability in Thailand’s transport and logistics sector. The allocation will be divided into three main groups: 1.) Rights Offering (RO): A total of 436,666,670 shares will be allocated to existing shareholders in proportion to their current holdings. Additionally, 249,523,812 units of free warrants (TPL-W1) will be issued to give existing shareholders the right to purchase additional shares in the future. This results in a total of 686,190,482 shares from the Rights Offering, including the warrant rights. 2.) Private Placement (PP): A total of 373,500,000 shares will be allocated to specific individuals, divided as follows: Mr. Warunchai Leekanjanakor: 190,000,000 shares, along with 108,571,429 units of free warrants (TPL-W2) and Mrs. Phantipa Thongjindawong: 183,500,000 shares, along with 104,857,143 units of free warrants (TPL-W3) This results in a total of 586,928,572 shares, including the warrants from the Private Placement. 3.) Share Swap: A total of 584,500,000 shares will be allocated for payment in a share swap transaction, to be given to AQUA and CPC 2022 as compensation for the shares of CPC that will be merged with TPL.