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Sustainability Report2024 Message
32IntroductionMessage from the CEO 6At-a-Glance 8About Us 9CST’s Sustainability Evolution 14Employee Well-BeingCST’s Workforce 17Health & Safety 18Environmental SustainabilityGreenhouse Gas Emissions 22Sustainable Operations 23Ethical GovernanceBoard of Directors 25Ethics and Compliance 26AppendixReferences 27Table of Contentscstindustries.com@cst-industries-inc @CSTIndustries
32IntroductionMessage from the CEO 6At-a-Glance 8About Us 9CST’s Sustainability Evolution 14Employee Well-BeingCST’s Workforce 17Health & Safety 18Environmental SustainabilityGreenhouse Gas Emissions 22Sustainable Operations 23Ethical GovernanceBoard of Directors 25Ethics and Compliance 26AppendixReferences 27Table of Contentscstindustries.com@cst-industries-inc @CSTIndustries
54Welcome to CST Industries’ (CST) inaugural Sustainability Report, which showcases CST’s commitment to environmental sustainability, our employees’ wellbeing, and responsible business practices. The data and insights included are intended to provide stakeholders with a clear understanding of where CST is on our sustainability journey and our ambitions as we continue to evolve in this area. All data featured in this report is companywide and for CST’s fiscal year 2024, from January 1, 2024 to December 31, 2024, except where otherwise noted. Purpose of the ReportIntroduction
54Welcome to CST Industries’ (CST) inaugural Sustainability Report, which showcases CST’s commitment to environmental sustainability, our employees’ wellbeing, and responsible business practices. The data and insights included are intended to provide stakeholders with a clear understanding of where CST is on our sustainability journey and our ambitions as we continue to evolve in this area. All data featured in this report is companywide and for CST’s fiscal year 2024, from January 1, 2024 to December 31, 2024, except where otherwise noted. Purpose of the ReportIntroduction
67Introduction Employee Well-Being Environmental Sustainability Ethical GovernanceThe year 2024 marked a pivotal chapter in CST Industries’ long and proud history as the Global Storage Product Leader. As the world continues to face environmental and social challenges, we formally embarked on a focused mission to integrate sustainability into the core of our business strategy. This sustainability report reflects our first comprehensive eort to measure, communicate, and drive progress in the areas that matter most to our team members, our stakeholders, our customers, and our planet. Message from the CEOFor over 130 years, CST brand has delivered engineered storage and cover solutions that support critical infrastructure across the globe. In 2024, we took deliberate steps to align our operations and services with a more sustainable future, enhancing eiciency across our manufacturing network, investing in cleaner technologies and strengthening our sustainable business practices, while collecting and analyzing our environmental, social and governance data.Our products—such as glass-fused-to-steel tanks, bolted and factory-welded tanks and aluminum geodesic domes—are built for longevity, recyclability, and low environmental impact. Just as we help our customers meet their sustainability goals, we are holding ourselves to the same high standards. Looking ahead, the world’s growing demand for solutions that enable clean water access, renewable energy, resilient agriculture, and even the infrastructure behind digital technologies like data centers, will only accelerate. CST is uniquely positioned to meet these challenges. But it will require strong partnerships with organizations that share our commitment to sustainable innovation, as well as a diversity of ideas and perspectives that fuel creativity and progress. Responsible Manufacturing Responsible manufacturing is central to CST’s sustainability mission and plays a critical role in reducing our environmental impact. Across our global network of facilities, we have made significant investments in energy eicient technologies to reduce our environmental footprint. We have also strengthened our supply chain partnerships to prioritize sustainable sourcing and increased our use of recycled and recyclable materials across our product lines. The way we manufacture and install our products reflects our commitment to environmental stewardship and operational excellence. This is why we have set an ambitious environmental strategy and are applying the investments, ingenuity, and determination needed to achieve them. We take pride in being an environmental leader in our industry, and we never lose sight of our most important responsibility: protecting the health, safety, and well-being of our employees and the planet at large. Ongoing Commitment As we move forward, our confidence in what we can accomplish together has never been stronger. I am honored to reairm our dedication to advancing sustainability and encourage you to review this report, which highlights the considerable progress we have made while recognizing the ongoing eorts required to reach our long-term objectives. This report provides an honest and transparent account of our collective eorts, presenting meaningful data that displays how far we have come and assists in guidance on the path ahead. I invite you to recognize these accomplishments with us and collaborate as we work toward a more sustainable future—for CST, our communities, and the planet we all depend on.I am genuinely proud of our team’s commitment as we embark on this important journey and remain confident that together, we will continue to advance with purpose and resolve. Jeff Mueller Chief Executive Oicer CST Industries, Inc.The future of CST Industries lies in building upon our legacy of durability while advancing our formal sustainability program.Jeff MuellerCEO““
67Introduction Employee Well-Being Environmental Sustainability Ethical GovernanceThe year 2024 marked a pivotal chapter in CST Industries’ long and proud history as the Global Storage Product Leader. As the world continues to face environmental and social challenges, we formally embarked on a focused mission to integrate sustainability into the core of our business strategy. This sustainability report reflects our first comprehensive eort to measure, communicate, and drive progress in the areas that matter most to our team members, our stakeholders, our customers, and our planet. Message from the CEOFor over 130 years, CST brand has delivered engineered storage and cover solutions that support critical infrastructure across the globe. In 2024, we took deliberate steps to align our operations and services with a more sustainable future, enhancing eiciency across our manufacturing network, investing in cleaner technologies and strengthening our sustainable business practices, while collecting and analyzing our environmental, social and governance data.Our products—such as glass-fused-to-steel tanks, bolted and factory-welded tanks and aluminum geodesic domes—are built for longevity, recyclability, and low environmental impact. Just as we help our customers meet their sustainability goals, we are holding ourselves to the same high standards. Looking ahead, the world’s growing demand for solutions that enable clean water access, renewable energy, resilient agriculture, and even the infrastructure behind digital technologies like data centers, will only accelerate. CST is uniquely positioned to meet these challenges. But it will require strong partnerships with organizations that share our commitment to sustainable innovation, as well as a diversity of ideas and perspectives that fuel creativity and progress. Responsible Manufacturing Responsible manufacturing is central to CST’s sustainability mission and plays a critical role in reducing our environmental impact. Across our global network of facilities, we have made significant investments in energy eicient technologies to reduce our environmental footprint. We have also strengthened our supply chain partnerships to prioritize sustainable sourcing and increased our use of recycled and recyclable materials across our product lines. The way we manufacture and install our products reflects our commitment to environmental stewardship and operational excellence. This is why we have set an ambitious environmental strategy and are applying the investments, ingenuity, and determination needed to achieve them. We take pride in being an environmental leader in our industry, and we never lose sight of our most important responsibility: protecting the health, safety, and well-being of our employees and the planet at large. Ongoing Commitment As we move forward, our confidence in what we can accomplish together has never been stronger. I am honored to reairm our dedication to advancing sustainability and encourage you to review this report, which highlights the considerable progress we have made while recognizing the ongoing eorts required to reach our long-term objectives. This report provides an honest and transparent account of our collective eorts, presenting meaningful data that displays how far we have come and assists in guidance on the path ahead. I invite you to recognize these accomplishments with us and collaborate as we work toward a more sustainable future—for CST, our communities, and the planet we all depend on.I am genuinely proud of our team’s commitment as we embark on this important journey and remain confident that together, we will continue to advance with purpose and resolve. Jeff Mueller Chief Executive Oicer CST Industries, Inc.The future of CST Industries lies in building upon our legacy of durability while advancing our formal sustainability program.Jeff MuellerCEO““
89Introduction Employee Well-Being Environmental Sustainability Ethical GovernanceAt-a-GlancePlanning Our Future2,705Tons of Metal RecycledHigh priority topics identified to advance CST’s sustainability initiativesSustainability Steering Committee establishedEnergy efficiency studies being conducted5124%Employee Turnover Rate2.1Total Recordable Incident Rate (TRIR)132Years in Business7Manufacturing Facilities Worldwide125Countries ServedOver 384,000Bolted Storage TanksOver 22,000Aluminum Domes and CoversAbout Us CST’s products are designed to be easily CST Products Sold Since Our InceptionOur thoughtful approach extends the life of everything we make – resulting in savings for our customers and a boon to the planet.installed, modified, transported, and repaired.CST is a world-renowned manufacturer of industrial storage solutions with a legacy dating back to 1893. We have established ourselves as a global leader in the design, manufacturing, and construction of factory-coated metal storage tanks, silos, aluminum domes, and specialty covers. Our design has the added benefit of reducing the release of volatile organic compounds (VOCs) into the atmosphere. Our reputation is built on continuous innovation and dedication to durability. We serve a range of industries from water management to dry bulk and oer customized storage solutions designed to meet each application requirement while simultaneously providing superior products that are safe and sustainable. We have a comprehensive product portfolio and proudly manufacture an extensive range of storage solutions to address diverse industrial requirements.
89Introduction Employee Well-Being Environmental Sustainability Ethical GovernanceAt-a-GlancePlanning Our Future2,705Tons of Metal RecycledHigh priority topics identified to advance CST’s sustainability initiativesSustainability Steering Committee establishedEnergy efficiency studies being conducted5124%Employee Turnover Rate2.1Total Recordable Incident Rate (TRIR)132Years in Business7Manufacturing Facilities Worldwide125Countries ServedOver 384,000Bolted Storage TanksOver 22,000Aluminum Domes and CoversAbout Us CST’s products are designed to be easily CST Products Sold Since Our InceptionOur thoughtful approach extends the life of everything we make – resulting in savings for our customers and a boon to the planet.installed, modified, transported, and repaired.CST is a world-renowned manufacturer of industrial storage solutions with a legacy dating back to 1893. We have established ourselves as a global leader in the design, manufacturing, and construction of factory-coated metal storage tanks, silos, aluminum domes, and specialty covers. Our design has the added benefit of reducing the release of volatile organic compounds (VOCs) into the atmosphere. Our reputation is built on continuous innovation and dedication to durability. We serve a range of industries from water management to dry bulk and oer customized storage solutions designed to meet each application requirement while simultaneously providing superior products that are safe and sustainable. We have a comprehensive product portfolio and proudly manufacture an extensive range of storage solutions to address diverse industrial requirements.
1011Introduction Employee Well-Being Environmental Sustainability Ethical GovernanceCST has 7 manufacturing facilities in 4 countries and offices in 9 countries.Where We OperateMexicoVietnamJapanGermanyCanada ArgentinaUnited KingdomCST Industries KansasCST Industries IllinoisCST Industries TexasOfficeOffice and Manufacturing FacilityCST Industries TennesseeCST Corporate MissouriAustriaBolted Storage TanksCST’s bolted storage tanks support essential environmental services, including clean water storage, wastewater treatment, gray water storage, dry bulk material storage, industrial liquid storage, and facilities fire protection infrastructure while also serving industrial needs. By meeting or exceeding rigorous industry standards, we ensure lasting performance of our tanks. We precision-engineer each bolted tank to maximize the eicient use of raw materials while meeting site-specific requirements. Our modular design enables installation in environmentally sensitive areas where traditional construction methods aren’t viable, reducing site disruption while minimizing storage footprint and construction waste. Our factory-trained installation teams, authorized dealer network, and/or dedicated CST construction services team ensure proper assembly. This combination of advanced engineering, superior materials, and expert installation creates durable infrastructure that can serve communities for generations.CST designs and manufactures several types of industrial storage solutions.Aluminum CoversCST is the global pioneer in custom bolted aluminum covers and structures. Our comprehensive portfolio includes domes, vaults, extruded flat covers, formed flat panel covers, truss-supported covers, and space frames – all engineered to meet specific architectural, environmental, and industrial requirements.Operating from advanced manufacturing facilities and technical design centers in Conroe, Texas and Stralsund, Germany, we provide sustainable aluminum structural solutions that combine durability with versatility. Our custom-designed covers serve diverse applications, including the commercial, recreational and industrial sectors, demonstrating our commitment to innovative and adaptable infrastructure solutions. CST ProductsKey
1011Introduction Employee Well-Being Environmental Sustainability Ethical GovernanceCST has 7 manufacturing facilities in 4 countries and offices in 9 countries.Where We OperateMexicoVietnamJapanGermanyCanada ArgentinaUnited KingdomCST Industries KansasCST Industries IllinoisCST Industries TexasOfficeOffice and Manufacturing FacilityCST Industries TennesseeCST Corporate MissouriAustriaBolted Storage TanksCST’s bolted storage tanks support essential environmental services, including clean water storage, wastewater treatment, gray water storage, dry bulk material storage, industrial liquid storage, and facilities fire protection infrastructure while also serving industrial needs. By meeting or exceeding rigorous industry standards, we ensure lasting performance of our tanks. We precision-engineer each bolted tank to maximize the eicient use of raw materials while meeting site-specific requirements. Our modular design enables installation in environmentally sensitive areas where traditional construction methods aren’t viable, reducing site disruption while minimizing storage footprint and construction waste. Our factory-trained installation teams, authorized dealer network, and/or dedicated CST construction services team ensure proper assembly. This combination of advanced engineering, superior materials, and expert installation creates durable infrastructure that can serve communities for generations.CST designs and manufactures several types of industrial storage solutions.Aluminum CoversCST is the global pioneer in custom bolted aluminum covers and structures. Our comprehensive portfolio includes domes, vaults, extruded flat covers, formed flat panel covers, truss-supported covers, and space frames – all engineered to meet specific architectural, environmental, and industrial requirements.Operating from advanced manufacturing facilities and technical design centers in Conroe, Texas and Stralsund, Germany, we provide sustainable aluminum structural solutions that combine durability with versatility. Our custom-designed covers serve diverse applications, including the commercial, recreational and industrial sectors, demonstrating our commitment to innovative and adaptable infrastructure solutions. CST ProductsKey
1213Introduction Employee Well-Being Environmental Sustainability Ethical GovernanceCST’s Brand History1Bioenergy SolutionsAs the world’s only comprehensive provider of complete storage solutions for bioenergy applications, CST delivers integrated systems that support energy production through anaerobic digestion, biofuels storage, and biomass processing. Our oerings include advanced tank designs with a complete spectrum of cover technologies, ranging from glass-fused-to-steel tanks to dual membrane gas holders, and from epoxy-coated to stainless steel solutions. This unique ability to customize complete storage systems enables us to optimize solutions for any bioenergy process, supporting the transition to renewable energy sources.Aluminum DomesCST leads the industry in innovative aluminum structures. Our specialty covers and domes grace major hotels, theme parks, sports stadiums, airports, churches, and museums - combining architectural beauty with practical functionality. The choice of aluminum over steel provides a crucial advantage, oering superior strength-to-weight ratio and natural corrosion resistance while remaining virtually maintenance-free. The bolted design allows for easy repair. 1893CST (then named Columbian Steel Tank) began manufacturing horse-drawn tanker trucks1910sCST began manufacturing “horseless” tanker trucks1937CST was the primary manufacturer of iron lungs to treat polio1920sCST began manufacturing tanks and water towersApproximately 10% of CST’s annual production is bioenergy solutions.1939–1945During World War 2, CST manufactured bolted tanks for the United States government1962CST sells our first geodesic dome1971CST designs and installs the South Pole Station Dome2025Whiskey distiller, Jack Daniels relies on 29+ CST tanks for its processCase Study: CST Water Tanks Still Standing after Hurricane HeleneWhen Hurricane Helene hit in September 2024, our product design’s resilience was put to the ultimate test. 29 of our water storage tanks, located in the hurricane’s direct path, remained fully operational throughout the disaster. While most conventional water systems and water storage tanks failed as a result of the hurricane, CST’s tanks continued to provide fresh, clean drinking water to local residents. These tanks proved so dependable that they became lifelines not only for their intended communities but for neighboring areas whose water systems had failed as a result of the hurricane. This real-world stress test demonstrated how our commitment to manufacturing durable infrastructure, including aluminum-domed tanks, directly supports community resilience and wellbeing.
1213Introduction Employee Well-Being Environmental Sustainability Ethical GovernanceCST’s Brand History1Bioenergy SolutionsAs the world’s only comprehensive provider of complete storage solutions for bioenergy applications, CST delivers integrated systems that support energy production through anaerobic digestion, biofuels storage, and biomass processing. Our oerings include advanced tank designs with a complete spectrum of cover technologies, ranging from glass-fused-to-steel tanks to dual membrane gas holders, and from epoxy-coated to stainless steel solutions. This unique ability to customize complete storage systems enables us to optimize solutions for any bioenergy process, supporting the transition to renewable energy sources.Aluminum DomesCST leads the industry in innovative aluminum structures. Our specialty covers and domes grace major hotels, theme parks, sports stadiums, airports, churches, and museums - combining architectural beauty with practical functionality. The choice of aluminum over steel provides a crucial advantage, oering superior strength-to-weight ratio and natural corrosion resistance while remaining virtually maintenance-free. The bolted design allows for easy repair. 1893CST (then named Columbian Steel Tank) began manufacturing horse-drawn tanker trucks1910sCST began manufacturing “horseless” tanker trucks1937CST was the primary manufacturer of iron lungs to treat polio1920sCST began manufacturing tanks and water towersApproximately 10% of CST’s annual production is bioenergy solutions.1939–1945During World War 2, CST manufactured bolted tanks for the United States government1962CST sells our first geodesic dome1971CST designs and installs the South Pole Station Dome2025Whiskey distiller, Jack Daniels relies on 29+ CST tanks for its processCase Study: CST Water Tanks Still Standing after Hurricane HeleneWhen Hurricane Helene hit in September 2024, our product design’s resilience was put to the ultimate test. 29 of our water storage tanks, located in the hurricane’s direct path, remained fully operational throughout the disaster. While most conventional water systems and water storage tanks failed as a result of the hurricane, CST’s tanks continued to provide fresh, clean drinking water to local residents. These tanks proved so dependable that they became lifelines not only for their intended communities but for neighboring areas whose water systems had failed as a result of the hurricane. This real-world stress test demonstrated how our commitment to manufacturing durable infrastructure, including aluminum-domed tanks, directly supports community resilience and wellbeing.
1718161312109867542211114151415Introduction Employee Well-Being Environmental Sustainability Ethical GovernanceCST’s Sustainability EvolutionCST’s commitment to sustainability has been woven into our design philosophy since the company’s founding. Through thoughtful material selection, eicient manufacturing processes, and an emphasis on product longevity, CST has consistently made choices that minimize environmental impact while maximizing value for our customers. This approach has manifested in everything from Commitment to Sustainabilityour early adoption of recycled materials to our longstanding focus on creating products that are both durable and repairable rather than disposable.Building on this foundation, CST is now taking our environmental stewardship to the next level by formalizing our sustainability program. CST has established a Sustainability Steering Committee made up of key executives to spearhead this new initiative. We have calculated our first greenhouse gas (GHG) inventory to understand our baseline emissions. We have also conducted our first materiality assessment to gain insight into what’s important to our internal and external stakeholders. We plan to continue this work and further mature our sustainability program in the years ahead.Materiality AssessmentTo bolster our sustainability eorts, we conducted our first comprehensive materiality assessment in the spring of 2025. This process involved identifying our top sustainability-related priorities by engaging with both internal and external stakeholders to evaluate the perceived internal and stakeholder impacts of each priority under consideration. We plan to utilize these results as we continue to build our sustainability program in the coming years.High ImportanceInternalExternalLow ImportanceSocial GovernanceKeyEnvironmentLow Importance High ImportanceBusiness Ethics/ Code of ConductCommunity Engagement/Relations/ImpactEmployment/Labor PracticesCustomer Health & SafetyWorking Conditions/Workforce Health & SafetyWorking Conditions/ Workforce Health & SafetyCustomer Health & SafetyEmployment/Labor PracticesCommunity Engagement/ Relations/ImpactBusiness Ethics/Code of ConductWaste & Hazardous Materials ManagementAir QualityEmployee Engagement, Well-being & RetentionWater Stress/Water & Wastewater ManagementSupply Chain ManagementBiodiversity/Ecosystem Impact/Resource UseGeopolitical issuesSustainable Products & ServicesGreenhouse Gas (GHG) EmissionsCircular EconomyEnergy Management & UsageClimate Risk & ResilienceClimate ChangeTop 5 Sustainability-Related Priorities
1718161312109867542211114151415Introduction Employee Well-Being Environmental Sustainability Ethical GovernanceCST’s Sustainability EvolutionCST’s commitment to sustainability has been woven into our design philosophy since the company’s founding. Through thoughtful material selection, eicient manufacturing processes, and an emphasis on product longevity, CST has consistently made choices that minimize environmental impact while maximizing value for our customers. This approach has manifested in everything from Commitment to Sustainabilityour early adoption of recycled materials to our longstanding focus on creating products that are both durable and repairable rather than disposable.Building on this foundation, CST is now taking our environmental stewardship to the next level by formalizing our sustainability program. CST has established a Sustainability Steering Committee made up of key executives to spearhead this new initiative. We have calculated our first greenhouse gas (GHG) inventory to understand our baseline emissions. We have also conducted our first materiality assessment to gain insight into what’s important to our internal and external stakeholders. We plan to continue this work and further mature our sustainability program in the years ahead.Materiality AssessmentTo bolster our sustainability eorts, we conducted our first comprehensive materiality assessment in the spring of 2025. This process involved identifying our top sustainability-related priorities by engaging with both internal and external stakeholders to evaluate the perceived internal and stakeholder impacts of each priority under consideration. We plan to utilize these results as we continue to build our sustainability program in the coming years.High ImportanceInternalExternalLow ImportanceSocial GovernanceKeyEnvironmentLow Importance High ImportanceBusiness Ethics/ Code of ConductCommunity Engagement/Relations/ImpactEmployment/Labor PracticesCustomer Health & SafetyWorking Conditions/Workforce Health & SafetyWorking Conditions/ Workforce Health & SafetyCustomer Health & SafetyEmployment/Labor PracticesCommunity Engagement/ Relations/ImpactBusiness Ethics/Code of ConductWaste & Hazardous Materials ManagementAir QualityEmployee Engagement, Well-being & RetentionWater Stress/Water & Wastewater ManagementSupply Chain ManagementBiodiversity/Ecosystem Impact/Resource UseGeopolitical issuesSustainable Products & ServicesGreenhouse Gas (GHG) EmissionsCircular EconomyEnergy Management & UsageClimate Risk & ResilienceClimate ChangeTop 5 Sustainability-Related Priorities
17Introduction Ethical GovernanceEmployee Well-Being Environmental Sustainability16CST’s global success is built on the dedication and expertise of our skilled workforce - from our manufacturing teams and field technicians to our engineers and business professionals. We prioritize the wellbeing and development of our employees through competitive benefits, annual merit raises, comprehensive workplace safety programs, professional growth opportunities, and a collaborative culture that values innovation and excellence.CST’s workforce demographics are consistent with the talent pool where our facilities are located. We utilize fair hiring practices and remain committed to attracting diverse talent across our structural metal manufacturing operations. By maintaining recruitment strategies that reflect industry standards while continuously seeking opportunities to expand our talent pipeline, we ensure our teams benefit from varied perspectives that drive innovation in metal building design, manufacturing, and construction.In 2024, CST Industries maintained a notably low employee turnover rate of 4% compared to our industry average - reflecting our strong workplace culture and commitment to employee satisfaction.2Female Representation at CST Non-White Representation at CSTWhite77%Non-White23%Women18%Men82%Employee Well-beingCST’s Workforce
17Introduction Ethical GovernanceEmployee Well-Being Environmental Sustainability16CST’s global success is built on the dedication and expertise of our skilled workforce - from our manufacturing teams and field technicians to our engineers and business professionals. We prioritize the wellbeing and development of our employees through competitive benefits, annual merit raises, comprehensive workplace safety programs, professional growth opportunities, and a collaborative culture that values innovation and excellence.CST’s workforce demographics are consistent with the talent pool where our facilities are located. We utilize fair hiring practices and remain committed to attracting diverse talent across our structural metal manufacturing operations. By maintaining recruitment strategies that reflect industry standards while continuously seeking opportunities to expand our talent pipeline, we ensure our teams benefit from varied perspectives that drive innovation in metal building design, manufacturing, and construction.In 2024, CST Industries maintained a notably low employee turnover rate of 4% compared to our industry average - reflecting our strong workplace culture and commitment to employee satisfaction.2Female Representation at CST Non-White Representation at CSTWhite77%Non-White23%Women18%Men82%Employee Well-beingCST’s Workforce
19Introduction Ethical GovernanceEmployee Well-Being Environmental Sustainability18Health & SafetyCST is committed to health and safety in every aspect of our operations. We maintain comprehensive safety protocols across our manufacturing facilities, construction sites, and oices to protect our employees. Our commitment includes ongoing safety training, regular workplace assessments, proper protective equipment provisions, and continuous improvement * CST safety data reflects U.S. operations only. Global subsidiary data will be integrated in future reporting.U.S. Safety Statistics*of our safety programs. We foster a culture where every employee is empowered to identify and address potential safety concerns, ensuring that workplace safety remains a shared responsibility. Through proactive risk management and adherence to stringent safety standards, we can keep our incident rates low while we continue to strive to maintain an injury-free workplace.2.1 0.46 0TRIR Lost Time Incident Rate FatalitiesCST’s Safety Forward Program – A Culture in MotionCST’s Safety Forward Program (Safety Forward) is rooted in our ambition to care for our employees while designing safety systems that anticipate mistakes and prevent harm. Safety Forward is focused on CST’s Six Pillars of Safety—the core practices that will enable CST to prioritize workforce safety and continue to advance towards an even safer workplace.Six Pillars of SafetyTrainingRole-specific instruction and skills developmentEnvironmental Health & Safety EngagementTwo-way safety dialogues fostering collective ownershipPolicies and ProceduresPrecise site-specific safety protocols and standardsIncident ManagementSolutions-focused response emphasizing prevention and educationHazard Identification and ControlProactive risk identification and strategic mitigation measuresInspectionsSystemic evaluations conducted with purpose and regularity
19Introduction Ethical GovernanceEmployee Well-Being Environmental Sustainability18Health & SafetyCST is committed to health and safety in every aspect of our operations. We maintain comprehensive safety protocols across our manufacturing facilities, construction sites, and oices to protect our employees. Our commitment includes ongoing safety training, regular workplace assessments, proper protective equipment provisions, and continuous improvement * CST safety data reflects U.S. operations only. Global subsidiary data will be integrated in future reporting.U.S. Safety Statistics*of our safety programs. We foster a culture where every employee is empowered to identify and address potential safety concerns, ensuring that workplace safety remains a shared responsibility. Through proactive risk management and adherence to stringent safety standards, we can keep our incident rates low while we continue to strive to maintain an injury-free workplace.2.1 0.46 0TRIR Lost Time Incident Rate FatalitiesCST’s Safety Forward Program – A Culture in MotionCST’s Safety Forward Program (Safety Forward) is rooted in our ambition to care for our employees while designing safety systems that anticipate mistakes and prevent harm. Safety Forward is focused on CST’s Six Pillars of Safety—the core practices that will enable CST to prioritize workforce safety and continue to advance towards an even safer workplace.Six Pillars of SafetyTrainingRole-specific instruction and skills developmentEnvironmental Health & Safety EngagementTwo-way safety dialogues fostering collective ownershipPolicies and ProceduresPrecise site-specific safety protocols and standardsIncident ManagementSolutions-focused response emphasizing prevention and educationHazard Identification and ControlProactive risk identification and strategic mitigation measuresInspectionsSystemic evaluations conducted with purpose and regularity
2120Case Study: CST’s Safety CommitteesCST has Safety Committees at all U.S. manufacturing facilities. Made up of representatives from a broad range of departments, the Safety Committees review and assess CST’s safety policies and procedures and work to actively identify and address safety hazards, implement preventative measures, and foster a culture of safety awareness among all CST employees.CST’s Roadmap to a Safer WorkplaceNear Miss ProgramIn addition to Safety Forward, CST has a stringent Near Miss Program at our U.S. facilities, which requires all employees and third parties involved in any aspect of CST operations to immediately report any workplace incidents or hazards that they believe could have caused injury but didn’t, enabling management to investigate and take proactive action.2023• Trained Environmental Health & Safety Coordinators • Strengthened hazard control programs and KPIs2024• Refreshed CST’s hazard identification and incident management systems• Updated safety policies• Launched executive-level safety training and quarterly reviews2025 Efforts• Strengthen our plant-level inspection protocols and supervisor training• Continue to embed Environmental Health & Safety into daily operationsEnvironmental Sustainability
2120Case Study: CST’s Safety CommitteesCST has Safety Committees at all U.S. manufacturing facilities. Made up of representatives from a broad range of departments, the Safety Committees review and assess CST’s safety policies and procedures and work to actively identify and address safety hazards, implement preventative measures, and foster a culture of safety awareness among all CST employees.CST’s Roadmap to a Safer WorkplaceNear Miss ProgramIn addition to Safety Forward, CST has a stringent Near Miss Program at our U.S. facilities, which requires all employees and third parties involved in any aspect of CST operations to immediately report any workplace incidents or hazards that they believe could have caused injury but didn’t, enabling management to investigate and take proactive action.2023• Trained Environmental Health & Safety Coordinators • Strengthened hazard control programs and KPIs2024• Refreshed CST’s hazard identification and incident management systems• Updated safety policies• Launched executive-level safety training and quarterly reviews2025 Efforts• Strengthen our plant-level inspection protocols and supervisor training• Continue to embed Environmental Health & Safety into daily operationsEnvironmental Sustainability
2024Scope Type Emissions Category Metric tons of carbon dioxide equivalentScope 1 Direct Fuel 531Direct Stationary Combustion 8,369Direct Fugitive Emissions 76Total Scope 1 8,976Scope 2 Indirect Purchased Electricity 3,324Total Scope 2 3,324Total Scope 1 & 2 Emissions 12,3002223Introduction Ethical GovernanceEmployee Well-Being Environmental SustainabilityCST enlisted a third party to help us calculate our first greenhouse gas (GHG) emissions inventory for calendar year 2024. This inventory will serve as our baseline going forward and inform our eorts to increase our energy eiciency so we can not only decrease our carbon footprint but also benefit our bottom line through cost savings. We are in the process of conducting energy audits at our U.S. facilities and heat loss studies on our U.S. furnaces and look forward to sharing progress in future reports. In 2024, 66% of the energy CST consumed came from carbon-free sources. The majority of CST’s emissions come from our manufacturing process and our electricity usage.Greenhouse Gas EmissionsKeyScope 1Direct emissions from operationsScope 2Indirect emissions from purchased electricity Case Study: Solar Panel Installation in CST’s Austrian facilityIn 2023, CST completed installation of three solar panel systems capable of generating up to 348.6 kilowatts of power under peak conditions at our manufacturing facility in Heidenreichstein, Austria. In 2024, this facility generated 24% of the energy it consumed from the sun. We are currently exploring adding battery storage to maximize our renewable energy utilization during non-peak solar hours and provide backup power capacity for critical operations.Metals Recycling at Our FacilitiesAt CST Industries’ manufacturing facilities, sustainability and financial eiciency converge through our comprehensive metal recycling program. Our production teams meticulously collect and sort nearly 100% of the metal byproducts generated during the fabrication process, including steel trimmings, aluminum scraps, and various metal ocuts. Through strategic partnerships with specialized recycling vendors who provide competitive market rates, CST has transformed what was previously a disposal expense into meaningful income that osets raw material costs. Beyond the financial benefits, this closed-loop approach significantly reduces our environmental footprint and reinforces our commitment to responsible manufacturing practices.Sustainable OperationsCST has always prioritized sustainability and has invested in multiple projects to decrease our carbon footprint. In 2024, our facilities recycled 2,705 tons of metal - the weight of roughly 492 male African elephants.3Tons 1,726 584 19 337 2,70539Carbon Iron Stainless Steel MixedAluminum TotalPowering Our Austrian Facility with BioenergyWhile CST manufactures bioenergy solutions for our customers, our Austrian facility is also powered with energy produced from that same bioenergy product – replacing grid electricity with a local renewable resource.Energy Efficiency ImprovementsEnergy Efficient Lighting InstallationUltra-high efficiency Heating and Air Conditioning SystemDekalb, IL FacilityParsons, KS Facility68% Scope 1Manufacturing Process27% Scope 2Electricity0.6% Scope 1Fugitive Emissions4.3% Scope 1Fuel
2024Scope Type Emissions Category Metric tons of carbon dioxide equivalentScope 1 Direct Fuel 531Direct Stationary Combustion 8,369Direct Fugitive Emissions 76Total Scope 1 8,976Scope 2 Indirect Purchased Electricity 3,324Total Scope 2 3,324Total Scope 1 & 2 Emissions 12,3002223Introduction Ethical GovernanceEmployee Well-Being Environmental SustainabilityCST enlisted a third party to help us calculate our first greenhouse gas (GHG) emissions inventory for calendar year 2024. This inventory will serve as our baseline going forward and inform our eorts to increase our energy eiciency so we can not only decrease our carbon footprint but also benefit our bottom line through cost savings. We are in the process of conducting energy audits at our U.S. facilities and heat loss studies on our U.S. furnaces and look forward to sharing progress in future reports. In 2024, 66% of the energy CST consumed came from carbon-free sources. The majority of CST’s emissions come from our manufacturing process and our electricity usage.Greenhouse Gas EmissionsKeyScope 1Direct emissions from operationsScope 2Indirect emissions from purchased electricity Case Study: Solar Panel Installation in CST’s Austrian facilityIn 2023, CST completed installation of three solar panel systems capable of generating up to 348.6 kilowatts of power under peak conditions at our manufacturing facility in Heidenreichstein, Austria. In 2024, this facility generated 24% of the energy it consumed from the sun. We are currently exploring adding battery storage to maximize our renewable energy utilization during non-peak solar hours and provide backup power capacity for critical operations.Metals Recycling at Our FacilitiesAt CST Industries’ manufacturing facilities, sustainability and financial eiciency converge through our comprehensive metal recycling program. Our production teams meticulously collect and sort nearly 100% of the metal byproducts generated during the fabrication process, including steel trimmings, aluminum scraps, and various metal ocuts. Through strategic partnerships with specialized recycling vendors who provide competitive market rates, CST has transformed what was previously a disposal expense into meaningful income that osets raw material costs. Beyond the financial benefits, this closed-loop approach significantly reduces our environmental footprint and reinforces our commitment to responsible manufacturing practices.Sustainable OperationsCST has always prioritized sustainability and has invested in multiple projects to decrease our carbon footprint. In 2024, our facilities recycled 2,705 tons of metal - the weight of roughly 492 male African elephants.3Tons 1,726 584 19 337 2,70539Carbon Iron Stainless Steel MixedAluminum TotalPowering Our Austrian Facility with BioenergyWhile CST manufactures bioenergy solutions for our customers, our Austrian facility is also powered with energy produced from that same bioenergy product – replacing grid electricity with a local renewable resource.Energy Efficiency ImprovementsEnergy Efficient Lighting InstallationUltra-high efficiency Heating and Air Conditioning SystemDekalb, IL FacilityParsons, KS Facility68% Scope 1Manufacturing Process27% Scope 2Electricity0.6% Scope 1Fugitive Emissions4.3% Scope 1Fuel
25Introduction Ethical GovernanceEmployee Well-Being Environmental Sustainability24Jeff MuellerCEOCSTChris BrothersManaging PartnerSolace Capital PartnersDavid EastmanOperating AdvisorAOR ConsultingAndrew MorrisManaging DirectorSolace Capital PartnersBoard of DirectorsCST’s Board of Directors provides strategic oversight and governance to CST’s daily operations, helping guide the company’s long-term vision while ensuring responsible management of stakeholder interests. Our Board consists of our CEO, executives from our private equity partner, and one independent adviser. The average tenure of our Board members is 6 years. Members of CST BoardEthical Governance
25Introduction Ethical GovernanceEmployee Well-Being Environmental Sustainability24Jeff MuellerCEOCSTChris BrothersManaging PartnerSolace Capital PartnersDavid EastmanOperating AdvisorAOR ConsultingAndrew MorrisManaging DirectorSolace Capital PartnersBoard of DirectorsCST’s Board of Directors provides strategic oversight and governance to CST’s daily operations, helping guide the company’s long-term vision while ensuring responsible management of stakeholder interests. Our Board consists of our CEO, executives from our private equity partner, and one independent adviser. The average tenure of our Board members is 6 years. Members of CST BoardEthical Governance
!2627Introduction Ethical GovernanceEmployee Well-Being Environmental SustainabilityEthics and ComplianceCode of ConductCST maintains a comprehensive Code of Conduct (The Code) that sets rigorous standards for ethical business practices and corporate responsibility. The Code, updated in April 2024, reflects our commitment to operating with integrity across all aspects of our business. It establishes clear guidelines for workplace respect, environmental responsibility, and fair business practices while emphasizing our zero-tolerance approach to discrimination, harassment, and retaliation.The Code guides our associates in areas including environmental stewardship, workplace safety, protection of company assets, and fair dealing with stakeholders. It provides detailed frameworks for managing conflicts of interest, protecting confidential information, and ensuring accurate record-keeping. Notably, the Code emphasizes our commitment to maintaining safe and healthy work environments, protecting intellectual property, and fostering open communication channels for reporting concerns without fear of retaliation.Safety PolicyAdditional Formal Policies in PlaceSubstance Abuse & Prevention PolicyHarassment & Discrimination PolicyForeign Corrupt Practices Act (FCPA) PolicyEnvironmental PolicyTravel & Entertainment Policy1 In 2017, Solace Capital acquired CST’s assets, designs, and operations, beginning a new era.2 U.S. Bureau of Labor Statistics. (2024). Job Openings and Labor Turnover. https://www.bls.gov/news.release/jolts.t16.htm3 Britannica. (2025). How Much Do Elephants Weigh? https://www.britannica.com/science/How-Much-Does-an-Elephant-WeighReferencesAppendix
!2627Introduction Ethical GovernanceEmployee Well-Being Environmental SustainabilityEthics and ComplianceCode of ConductCST maintains a comprehensive Code of Conduct (The Code) that sets rigorous standards for ethical business practices and corporate responsibility. The Code, updated in April 2024, reflects our commitment to operating with integrity across all aspects of our business. It establishes clear guidelines for workplace respect, environmental responsibility, and fair business practices while emphasizing our zero-tolerance approach to discrimination, harassment, and retaliation.The Code guides our associates in areas including environmental stewardship, workplace safety, protection of company assets, and fair dealing with stakeholders. It provides detailed frameworks for managing conflicts of interest, protecting confidential information, and ensuring accurate record-keeping. Notably, the Code emphasizes our commitment to maintaining safe and healthy work environments, protecting intellectual property, and fostering open communication channels for reporting concerns without fear of retaliation.Safety PolicyAdditional Formal Policies in PlaceSubstance Abuse & Prevention PolicyHarassment & Discrimination PolicyForeign Corrupt Practices Act (FCPA) PolicyEnvironmental PolicyTravel & Entertainment Policy1 In 2017, Solace Capital acquired CST’s assets, designs, and operations, beginning a new era.2 U.S. Bureau of Labor Statistics. (2024). Job Openings and Labor Turnover. https://www.bls.gov/news.release/jolts.t16.htm3 Britannica. (2025). How Much Do Elephants Weigh? https://www.britannica.com/science/How-Much-Does-an-Elephant-WeighReferencesAppendix
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