Consumption_Water Average consumption of Water (CuM) Premises Types Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 HDB 1-Room 8.3 8.4 8.1 7.7 7.5 8.1 8.3 7.9 8.1 7.8 7.8 7.8 HDB 2-Room 9.7 10.0 9.5 8.7 8.7 9.4 9.5 9.2 9.3 9.0 9.0 9.1 HDB 3-Room 12.8 12.9 12.0 11.5 11.6 12.4 12.5 12.2 12.2 12.0 11.9 12.0 HDB 4-Room 16.2 16.3 15.3 14.7 14.6 15.6 15.7 15.3 15.5 15.1 14.9 15.2 HDB 5-Room 17.8 17.7 16.7 16.0 15.6 16.9 17.1 16.7 17.0 16.4 16.1 16.7 HDB Executive 19.9 19.7 18.6 17.7 17.7 18.8 19.1 18.5 18.8 18.1 17.9 18.7 Apartment 14.4 14.3 13.2 12.7 12.5 13.1 13.8 13.8 13.8 13.3 12.8 13.0 Terrace 28.0 28.4 24.2 24.1 24.7 25.7 26.7 25.9 26.2 25.6 24.7 25.7 Semi-Detached 34.9 34.6 30.2 28.3 30.0 31.5 33.4 31.4 32.2 30.9 30.4 30.6 Bungalow 59.5 58.1 50.4 42.1 49.6 48.1 54.7 52.4 52.4 50.2 49.8 49.4

Media Release Singapore Power Sets Up Singapore Institute Of Power And Gas To Provide Training To The Power And Gas Sector Singapore Power (SP) will set up the Singapore Institute of Power and Gas (SIPG) to provide training courses for the Power and Gas sector.   The setting up of SIPG is part of the industry-led efforts by SP, with support from the Government, to establish a one-stop training centre to meet the needs of the Power and Gas Sector.   SP has taken the initiative to follow up on the Power Sector Manpower Taskforce (PSMT)’s recommendations and support the manpower training needs in the Power and Gas Sector. Earlier in April 2014, a Memorandum of Understanding (MOU) was signed between key players in the Sector to come together on the Centralised Training Institute initiative. This was the precursor to the formation of SIPG.   Mr Quek Poh Huat, Senior Adviser of Singapore Power Limited expressed that: “The setting up of SIPG signals the importance that the industry places on the training of its workforce, and reflects the strong commitment of industry players to work together to provide relevant courses for the Sector. SIPG will place emphasis on retaining the expertise in the industry and transferring the know-how to the next generation of professionals. SIPG will also have the potential to develop into a regional training centre and sharing our knowledge with other countries in the region.”   The setting up of the SIPG is strongly supported by the government. The Energy Market Authority (EMA) will be co-funding the initial set-up of SIPG with a grant. This will go towards the setting-up and development of the initial courses for the industry, as well as in providing supporting facilities such as training equipment and tools.   Mr Chee Hong Tat, Chief Executive of EMA said: “The setting up of SIPG received strong support from power industry players. EMA will continue to work with the industry to build up a strong Singaporean core of technical professionals for the power sector.”   Targeted Launch Date for Courses SIPG plans to launch the first courses for the industry in 2015. The courses will be based on the National Energy Competency Framework which has been established by EMA. The courses will cover technical and in-depth training programmes on Power Plant Operations and Asset Management. Broad-based overview programmes for the industry are also being developed in consultation with the industry.   Issued by: Singapore Power Limited 10 Pasir Panjang Road #03-01 Mapletree Business City Singapore 117438 Co. Reg No : 199406577N www.singaporepower.com.sg   About Singapore Power Singapore Power Group (SP) is a leading energy utility group in the Asia Pacific. It owns and operates electricity and gas transmission and distribution businesses in Singapore and Australia. More than 1.4 million industrial, commercial and residential customers in Singapore benefit from SP's world-class transmission, distribution and market support services. The networks in Singapore are amongst the most reliable and cost-effective worldwide.

Singapore Power Group Contractor Performance Management System Frequently Asked Question Questions: General .......................................................................................................................................................................................... 6 1. How does your CPMS strengthen partnership and improve safety and performance standard? ... 6 2. Can I opt out from CPMS and choose to remain under the old CSM scheme? ...................................... 6 3. Will CPMS disadvantage or penalize contractors who have more contracts with SP? ......................... 6 4. We used to be able to get incentives for every contract. Now, I must be in the top 5 to get incentives, in fact you are actually not encouraging us to do the right things. Are we taking a step back? ...................................................................................................................................................................................... 7 5. Why do SP only reward top 5 contractors? In order to motivate us, you should reward whoever that meets certain cut off scores. Similarly, is it fair to suspend the bottom 2 contractors if they have done well but ranked last nonetheless? .................................................................................................................. 7 6. What is the purpose of suspending contractors if your objective is to partner us? ................................ 7 7. For those contractors who is just doing supplying of cables, how does it apply to this CPMS as cable supply category is not covered under CPMS? ......................................................................................... 8 8. Contractors may participate in various SP projects (i.e. Cable laying, milling-and-patching, buildingand-construction etc.) under a single company name and under different roles such as maincontractor and sub-contractor. Kindly confirm if only the main-contractors will be subjected to CPMS, please. .................................................................................................................................................................... 8 9. What happen to my current contracts? Will you make any changes to them? ...................................... 9 10. Are all my demerit points will be wiped clean from 1 Oct? ............................................................................. 9 11. How can I be assured that the demerit points will cease after 1 Oct given it is currently in our contracts? ............................................................................................................................................................................ 9 12. What about my safety incentives? Will it be void after 1 Oct? ...................................................................... 9 13. If I am issued with demerit points just before 1 Oct that cause me to exceed 100 points, will I still be suspended for next 3 months or will it be reset after 1 Oct? Likewise, how does it work if I am serving my suspension now that straddle into 1 Oct?....................................................................................... 10 14. I have many contracts with SP. Some still have quite runway to go while some have only a few months left and some just started less than one month before your quarter end or annual end. So which contracts will be caught under your CPMS for a particular quarter or year?.............................. 10 15. Does this mean that a contractor just gets a job with you at Q4 will have an unfair advantage over contractors who have been carrying out work over the entire year or have many jobs during the year since he has little chance to make mistakes? ............................................................................................. 10 16. How does your suspension work? Assuming I am suspended from Jan to end Mar. There is a tender published in Feb but close only in Apr. Can I participate? ............................................................... 11 17. Similarly, I have submitted my tender when it closed in Mar but you have not awarded yet. But I get suspended from Apr to end Jun, am I still considered for the tender?............................................... 11 18. If someone has already been suspended for the rest of the year already and also, score less than 50 for a quarter during the year or rank bottom 2 at end of year, how do all these overlapping suspension work? ............................................................................................................................................................ 11 19. What will happen to my existing contracts when I get suspended from tender? ................................. 11 Contractor Performance Assessment (CPA) ................................................................................................................... 12 20. What is the annual period of assessment for your CPMS? Given you have start only in 1 Oct 16, when will the first annual period end?.................................................................................................................... 12 21. For the first annual period starting 1 Oct 16, if it is going to be a shortened one instead of full 12 months, will the reward be prorated? Likewise, the suspension period? ............................................... 12 22. How is my reward computed, especially if I have many contracts with varied amounts and outstanding contract periods? ................................................................................................................................... 12 23. What happen if there is tied score that results in more than 5 contractors in Top 5? Likewise, what happen if same thing happens in bottom 2? ....................................................................................................... 12 24. How are you going to rank us? Given the nature of work are different across contractors, is it fair to rank us together? You have to agree that a small contractor is not comparable to a big one. Likewise, someone doing a simple job cannot be compared with another one doing a complex job. ........................................................................................................................................................................................ 13 25. If I happen to score less than 50 for Q4, will I get suspended in the next 3 months which is actually a new year or will this be wiped clean instead since you are starting a new year? ............................. 13 26. Kindly confirm if the bottom-two-annual-ranks and/or BUS suspension in one of the category of work where the non-conformance or violation is unique to the category of work, would affect tender participation in all categories or specific to the category where non-conformance or violation is found please .............................................................................................................................................. 13 27. Who will be assessing me? How do I know if it is an objective process? ............................................... 13 28. Will the CPMS scores be reset annually? ............................................................................................................... 14 29. Can I confirm that for each critical incident, points are deducted at my overall average quarterly score and not just for the contract in question? So, if I have three violations, there will be three points deduction? ........................................................................................................................................................... 14 30. For critical incidents, why are points deducted at contractor level and not only against the contract in question? Is this fair especially if the rest of the contracts are performing well? Should one poor contract wipe out all the other good work I have done? Again, this seems to put contractors with more contracts at a higher risk of scoring poorly. ............................................................................................. 14 31. Can you share with us the detailed scorecard and weightage you will be using to assess us? Just like exam, we must prepare ourselves. .................................................................................................................. 15 32. In the worst case, can a quarterly score go into negative range? ............................................................... 15 33. If I have just started work on a new contract a few weeks or days before the end of a quarter or my work is completed very shortly after the start of a quarter, how will I be scored for the quarter? ............................................................................................................................................................................................... 15 34. Do you tell us where we stand or will I know that I get suspended out of the blue after your end of year assessment or quarterly assessment and how do I know if I am suspended or win the reward? Will the public know who is suspended or rewarded? ................................................................ 15 Tender Evaluation Framework (TEF) .................................................................................................................................. 16 35. How do I know that the same standard will be applied to all of us when you carry out your SET assessment? Who will assess us? ............................................................................................................................ 16 36. If I fail your SET the first time, can I apply again to be reassessed? Is there a limit to the number of reassessment I can take in a year? ........................................................................................................................... 16 37. Will you be helping us to improve if I fail the first SET so that we can improve and ultimately qualify? ............................................................................................................................................................................................... 16 38. You say we will be assessed for the SET annually. Is your SET valid annually based on your year end or for one year from the date I am qualify? If it is the later, does it mean that I got cleared in Jan and because your year end is Mar, I must do one more assessment in again to be valid for Apr to Mar next year again? If so, this does not make sense and waste our time........................................ 17 39. How does Turnkey Contractor complete the SET questionnaire as they are mainly supplying cable? ............................................................................................................................................................................................... 17 40. If we understand your scheme correctly, there will not be past 2 years CPMS records for you to score us in the initial period. But if I have been doing a good job, you will agree that I should be given advantage over new ones at tender evaluation from 1 Oct? How will this be handled? ..... 18 41. What happen if there is a tie at your Q-P score stage? .................................................................................... 18 42. Kindly confirm if the weightage of CPMS to Quality score, and weightage of Quality score to Price score are transparent to contractors, please. ....................................................................................................... 18 Business under Surveillance (BUS) ...................................................................................................................................... 19 43. Does it apply by contract or by contractor? How does this work? ............................................................. 19 44. Why do you apply the BUS by contract but aggregate them at contractor level? Is this correct as the nature of work for each contract (or even work within same contract) can be different? ...... 19 45. The critical incidents are based on whose observations, project officers or safety officers’ inspections? ...................................................................................................................................................................... 19 46. What happens if a project officer on a routine site supervision basis identifies major nonconformances? Does it land us on BUS? ............................................................................................................... 19 47. How do you count the 3 major non-conformances? ......................................................................................... 20 48. If there are 2 or more major non-conformances observations during a safety inspection, is the number of non-conformance taken a 1 or based on the number of observations? Does the number of major non-conformances and number of bus get reset every quarter? ............................................ 20 49. How do you count the number of BUS? Is it one for safety and a separate one for operation violations? ......................................................................................................................................................................... 20 50. If I am on 2 BUS programmes for safety related violations, and I then have a BUS programme for cable damage, why should they be counted together? They are not related, is it fair and correct? ............................................................................................................................................................................................... 21 51. What happen if I get offloaded after 2 BUS programmes but before the quarter ends, I get another BUS programme, does this mean I am on 3 programmes now and will be suspended till end of the year? ............................................................................................................................................................................. 21 52. If I am on a BUS programme and another BUS programme is triggered, is it still counted as 1 st programme or the 2 nd programme will start and how will this work? Does this mean the total time for the 2 BUS programme s is now shorter than the standard 14 weeks? ................................................. 21 53. If I am on a BUS program and there are major non-conformances observed, does the counting for 3 major non-conformances start again; or am I given an amnesty since I am under rehabilitation? .................................................................................................................................................................. 22 54. If someone committed at the same time say two critical violations at the same time inspections, is the consequence one or two BUS programs? What about the point’s deduction? ........................... 22 55. If a safety major non-conformance or critical violation also results in cable damage, is the consequence one or two BUS programs? What about the point’s deduction? .................................. 22 56. How do you ascertain that I can or cannot be offloaded from the BUS after 5th week or 7th week? Who will do that? ........................................................................................................................................................... 23 57. What happen if I still cannot get offloaded after the 3rd BUS? .................................................................... 23 58. If someone got 3 BUS programs in Q1, he will be suspended till end of the year, i.e. for approx. 9 months. If someone gets only 3 BUS programs in Q4, he will only be suspended for a much shorter period. Is this fair? ......................................................................................................................................................... 23 59. If I am on a BUS program and it straddle across two quarters? Which quarter will this BUS be marked against? ............................................................................................................................................................. 23 60. If I am on a BUS program on Q1 and your week 5/7 straddles into Q2, and assuming I do not manage to get myself offloaded, you will put me on another BUS program again. Does this new BUS count as BUS program 2 for Q1 or program 1 for Q2? ............................................................................ 24 61. If I am on 2 BUS programs in Q2 and it happens that either one or both straddles into Q3? And I did not get myself offloaded in Q3 and need to trigger the next BUS, does it mean my 3rd BUS counts for Q2 or does it mean I am lucky and this will be counted as a fresh 1st BUS for Q3? ....... 24 62. You say that if I cannot get off the BUS after the 3rd time in a quarter, you will not want to spend time and resource with me anymore. Can I confirm this is the case? What about if I am on 3 BUS rides in Q1 already and either did not get myself offloaded or commit a violation that leads me to another BUS during the same quarter, do you mean there is no more BUS ride for me in the quarter? .............................................................................................................................................................................. 24 63. If I am on only 1 BUS for Q1, likewise for Q2 and Q3, will you still put me on a 4th BUS if I get myself a violation either in Q3 or Q4 again? ...................................................................................................................... 24 64. If you give up on a contractor after 3 BUS programs and not going to put him on another BUS, are you not encouraging “don’t care” attitude from those erroneous contractors and at the same time goes against the your aim to work with and help contractors improve? And it means you are not taking any more action against them, isn’t this unfair to the responsible ones? .................................... 25 65. If you mean that you will not trigger any more BUS only if a contractor cannot get himself offloaded after 3 BUS programs or trigger a 4th BUS in the same quarter and everything reset after end of each quarter, then does this mean that this contractor if a poor one, will require to be on BUS again if he commits violations in the next quarter? Doesn’t this go against your concept of not wanting to spend more time with contractors who do not want to change? ........................................................ 25 66. I have only one contract and one work site under it. What happen if I am already near the end of the site work and am put on BUS but the remaining work itself will not have sufficient time for me to complete the BUS ride? ......................................................................................................................................... 25 67. For cable damages, you mean we will be on BUS regardless whether it is our fault or not? .......... 26 68. Do you mean stop work on site or stop issuing new work orders? .......................................................... 26 69. When on BUS, are the stop work and other training measures applicable to only the site involved or for all sites under the same contract? How does it work? ....................................................................... 26 70. I have a few sites under a contract doing different work. I get onto BUS because of one violation in a particular site. Does it mean that if I do not have enough work for that site to complete the BUS program, my other sites will have to substitute for it despite of different nature? ..................... 26 71. Is it practical to impose stop work if the road is opened and need to be closed ASAP to meet regulatory requirements? Likewise, if it is a critical urgent work like supply restoration in the case of cable damage? .......................................................................................................................................................... 27 72. How does the BUS scheme help contractors instead of punishing them? In what way is it a partnership arrangement? .......................................................................................................................................... 27 73. Why need to suspend me if I am on more than 2 BUS in a quarter? ......................................................... 27 74. If you keep sending us on BUS, how do complete our work? ................................................................... 27 General 1. How does your CPMS strengthen partnership and improve safety and performance standard? CPMS adopts 3 main components to help SP work together with our contractors to improve both safety and quality standards: a. Contractor Performance Assessment helps to give our contractors timely feedback on their performance and identify areas where improvement is needed. It also includes an incentive scheme where top performers will receive a significant incentive at the end of each Assessment Year. b. The BUS programme is a stop and assist programme where SP deploys our personnel to help contractors identify root causes and mitigation measures when incidents occur in the course of their work. c. The new Tender Evaluation Framework that takes into account the contractor’s past CPMS scores will give due recognition to contractors who have consistently performed well by giving them an advantage in their tenders. 2. Can I opt out from CPMS and choose to remain under the old CSM scheme? No, this is a SP’s company policy that we will apply to all in the spirit of transparency and fairness. 3. Will CPMS disadvantage or penalize contractors who have more contracts with SP? No. SP awards multiple contracts to a contractor on the basis that the contractor must be able to cope with multiple contracts without compromise to safety or quality. Hence this system will not penalize those with more contracts if they can still manage them well. We discourage contractors bidding for new tenders that are beyond their capacity as it places lives in danger and the project at higher risk of failure. 4. We used to be able to get incentives for every contract. Now, I must be in the top 5 to get incentives, in fact you are actually not encouraging us to do the right things. Are we taking a step back? Safety and quality standards should be maintained consistently across all contracts. Hence a contractor level incentive scheme would better support this objective than the previous individual contract based incentive. In addition, the new incentive is now pegged at a higher quantum of 2% (capped at $100,000) of the contractor’s total contract value for the particular Assessment Year. This means that a typical contractor with Four (4) 2-year term contracts who perform consistently well may be able to get up to $200,000 over 2 years instead of up to $120,000 under the old scheme. 5. Why do SP only reward top 5 contractors? In order to motivate us, you should reward whoever that meets certain cut off scores. Similarly, is it fair to suspend the bottom 2 contractors if they have done well but ranked last nonetheless? As you know the Singapore environment is becoming increasingly more difficult to work with higher expectation from public and more congested site conditions. Hence CPMS seeks to establish a continuous improvement framework by on-going competition so that complacency will not set in. This allows us to provide a higher quantum for the incentive and also give contractors a higher level of achievement and reputation. 6. What is the purpose of suspending contractors if your objective is to partner us? Suspension is only a temporary break from giving more contracts and is only applied if the contractor in question is facing serious issues or persistently unable to fix the current issues. Hence the temporary break is important to allow such contractors to focus in getting their fundamentals correct and not aggravate their situation by overstretching their capacity to take on more work. 7. For those contractors who is just doing supplying of cables, how does it apply to this CPMS as cable supply category is not covered under CPMS? For tenders where the scope of work is only for the supply of cables, CPMS does not apply. Hence companies that only engage in the supply of cables can participate. For tenders where the scope of work is for the supply AND installation of cables, CPMS will apply. All companies bidding for such jobs would require to be SET pre-qualified. Companies that only supply cables can participate through one of the following ways: a. Participate in the bid through a local installation contractor that is SET Prequalify b. Participate in the bid themselves by obtaining SET pre-qualification for their company. During the initial implementation of the CPMS, an exception may be granted on a case-by-case basis to companies that are not able to participate through either methods explained above. The exception may be granted if the company fulfills the following criteria: � � � Company is a pure supplier that does not carry out any Construction- Related work Appoints a sub-contractor that undertakes ALL installation and construction work under the contract. The appointed sub-contractor must be a SET qualified Subcontractor 8. Contractors may participate in various SP projects (i.e. Cable laying, milling-andpatching, building-and-construction etc.) under a single company name and under different roles such as main-contractor and sub-contractor. Kindly confirm if only the main-contractors will be subjected to CPMS, please. CPMS is applicable to the Main-Contractor. However, it must be noted that the Main Contractor is also responsible for their sub-contractors performance. During the initial implementation of the CPMS, an exception may be granted on a case-by-case basis to apply CPMS to the sub-contractor if the Main Contractor fulfills the following criteria: � � � Main Contractor is a pure supplier that does not carry out any Construction-Related work Appoints a sub-contractor that undertakes ALL installation and construction work under the contract. The appointed sub-contractor must be a SET qualified Subcontractor 9. What happen to my current contracts? Will you make any changes to them? For any existing contract that CPMS will apply, their demerit point scheme will be discontinued with effect from 1 Oct 2016. Incentive Scheme will continue for current contracts. 10. Are all my demerit points will be wiped clean from 1 Oct? Yes. 11. How can I be assured that the demerit points will cease after 1 Oct given it is currently in our contracts? We will be sending a letter to contractors with on-going contract to formalize the removal of the demerit point scheme. 12. What about my safety incentives? Will it be void after 1 Oct? As the main objective of the CPMS is about improvement and raising standards, any incentive scheme that is already incorporated into existing contracts will be honored by SP if one meets the criteria. At the same time the same work will also be eligible for incentive under the new CPMS. 13. If I am issued with demerit points just before 1 Oct that cause me to exceed 100 points, will I still be suspended for next 3 months or will it be reset after 1 Oct? Likewise, how does it work if I am serving my suspension now that straddle into 1 Oct? Any Suspension imposed under the current demerit point scheme before 1 Oct 2016 will continue to apply accordingly until its expiry. 14. I have many contracts with SP. Some still have quite runway to go while some have only a few months left and some just started less than one month before your quarter end or annual end. So which contracts will be caught under your CPMS for a particular quarter or year? Any contract (under the CPMS eligible categories) that are still valid as of 1 Oct 2016 will fall under the new CPMS. This means that the BUS programme will apply to them until the expiry of the contract. For CPMS Score, any contract that have works carried out in that quarter or part thereof will be scored at the end of that quarter. Annual assessment will only apply for Contractors who have at least 2 quarterly scores. 15. Does this mean that a contractor just gets a job with you at Q4 will have an unfair advantage over contractors who have been carrying out work over the entire year or have many jobs during the year since he has little chance to make mistakes? No, he will only get a score for Q4 based on that one job in Q4 but will not be eligible for the annual assessment if there are no other scores in Q1 – Q3. 16. How does your suspension work? Assuming I am suspended from Jan to end Mar. There is a tender published in Feb but close only in Apr. Can I participate? Suspension is placed on the contractor’s ability to submit a tender. Hence if the tender only closes in April after the suspension has been lifted, then the contractor can still participate. 17. Similarly, I have submitted my tender when it closed in Mar but you have not awarded yet. But I get suspended from Apr to end Jun, am I still considered for the tender? You can be considered for the tender however we will take into account the reasons for the Apr – Jun suspension when evaluating your tender. 18. If someone has already been suspended for the rest of the year already and also, score less than 50 for a quarter during the year or rank bottom 2 at end of year, how do all these overlapping suspension work? Suspension will run concurrently until the end of the longer suspension period. 19. What will happen to my existing contracts when I get suspended from tender? Your existing contract will continue till the end date. But if one continues to perform poorly such as continued to have occurrence of critical incidents, we need to consider whether he is even fit to continue to carry out work for SP under existing contracts. Contractor Performance Assessment (CPA) 20. What is the annual period of assessment for your CPMS? Given you have start only in 1 Oct 16, when will the first annual period end? The annual assessment period will start from 1 Apr and end on 31 Mar the next year. The first annual assessment will be carried out in March 2017 but will only apply for contractors that have scores in at least 2 quarters. 21. For the first annual period starting 1 Oct 16, if it is going to be a shortened one instead of full 12 months, will the reward be prorated? Likewise, the suspension period? The reward will be contract value based on the 6 month period from 1 Oct 16 to 31 Mar 17 and the suspension period will remain the same. 22. How is my reward computed, especially if I have many contracts with varied amounts and outstanding contract periods? Reward = 2 % of Sum of Annual value of the each contracts (cap at $100K) Annual Value of each contract is calculated by: Contract Sum / Contract Period (weeks) x No. of weeks (or part thereof) of works were carried out in that year. 23. What happen if there is tied score that results in more than 5 contractors in Top 5? Likewise, what happen if same thing happens in bottom 2? We will rank out all the contractors based on their score. The first 5 will get the reward and if the 6th or subsequent position contractor has the same score as the one in the 5th position, they will all get the same reward. For the bottom 2, we will use the no. of critical incidents and major non-conformances to determine the one to suspend. 24. How are you going to rank us? Given the nature of work are different across contractors, is it fair to rank us together? You have to agree that a small contractor is not comparable to a big one. Likewise, someone doing a simple job cannot be compared with another one doing a complex job. Although different contractors may carry out different works, all contractors under CPMS carry out physical construction or civil work where safety and quality plays a critical role regardless of the job’s size and complexity. A simple job can easily cause fatality if safe work procedures are not used as a complex job. And a complex job means that the risk are even higher and hence all the more important to carry out the work safely. 25. If I happen to score less than 50 for Q4, will I get suspended in the next 3 months which is actually a new year or will this be wiped clean instead since you are starting a new year? No. Quarter to Quarter suspension will still continue across the New Year. 26. Kindly confirm if the bottom-two-annual-ranks and/or BUS suspension in one of the category of work where the non-conformance or violation is unique to the category of work, would affect tender participation in all categories or specific to the category where non-conformance or violation is found please Any suspension imposed under CPMS will be applied across all categories. 27. Who will be assessing me? How do I know if it is an objective process? Scoring will be done by the relevant sections together with our Group Safety. No one individual can determine the CPMS score so that there is a check and balance in the process to ensure objectivity. 28. Will the CPMS scores be reset annually? Each annual assessment will only take into account the scores for that particular year. However, all quarterly Contractor performance score will be kept in our database for reference in evaluating new tenders. 29. Can I confirm that for each critical incident, points are deducted at my overall average quarterly score and not just for the contract in question? So, if I have three violations, there will be three points deduction? Critical Incidents are taken into account at the Contractor level as these are very serious incidents. Each violation will result in its own reduction in score. 30. For critical incidents, why are points deducted at contractor level and not only against the contract in question? Is this fair especially if the rest of the contracts are performing well? Should one poor contract wipe out all the other good work I have done? Again, this seems to put contractors with more contracts at a higher risk of scoring poorly. These are very serious incidents that reflect breaches in very fundamental procedures and mindsets which mean a breach in one contract can also happen in others. Moreover these incidents can have very dire consequences of one or multiple fatalities. Multiple contracts does not necessarily mean higher risk if the fundamental preventive measures are effectively in place. It usually happens if the contractor has overstretched his resources and cannot cope hence resulting in these serious lapses. 31. Can you share with us the detailed scorecard and weightage you will be using to assess us? Just like exam, we must prepare ourselves. The detailed scorecard is based on the specific requirements of the contract where the broad areas of focus have been explained. However, the specific questions in the scorecard is confidential to SP. 32. In the worst case, can a quarterly score go into negative range? No. The lowest score is zero. 33. If I have just started work on a new contract a few weeks or days before the end of a quarter or my work is completed very shortly after the start of a quarter, how will I be scored for the quarter? If the initial period is not sufficient for scoring for new contracts, the sections carrying out the scoring can defer it to the next quarter. For expiring contracts, any remaining contract period in a quarter will be scored accordingly. If any scoring criteria is not applicable, it will not be considered for scoring. 34. Do you tell us where we stand or will I know that I get suspended out of the blue after your end of year assessment or quarterly assessment and how do I know if I am suspended or win the reward? Will the public know who is suspended or rewarded? At the end of each quarter, contractors will be given a grade that reflects their performance in the past quarter. At the end of each Assessment Year, the top 5 contractors that obtain the incentive will be announced publicly. In the spirit of full transparency, SP Group will publish the identities of contractors in each grade from next quarter onwards FY16/17 Q2. The contractors who are being suspended will be informed directly and published in our website. Tender Evaluation Framework (TEF) 35. How do I know that the same standard will be applied to all of us when you carry out your SET assessment? Who will assess us? The SET assessment will be carried out by a committee to ensure a consistent and robust assessment process. 36. If I fail your SET the first time, can I apply again to be reassessed? Is there a limit to the number of reassessment I can take in a year? If you fail the first time, you can apply to be reassessed from the beginning of the next calendar quarter. The prequalification is required for each financial year (Apr-Mar) and is valid till the end of the financial year. Note: in the first year of CPMS, the prequalification is valid up to end March 2018. During the FY, SP can demand prequalified contractor for prequalification again when there are significant changes on the safety background (e.g. if the contractor committed a serious incident at either SP’s site or other client’s site or under MOM stop work order etc) 37. Will you be helping us to improve if I fail the first SET so that we can improve and ultimately qualify? SP will help you identify the areas that require improvement but it will be up to the individual companies to take the necessary actions. 38. You say we will be assessed for the SET annually. Is your SET valid annually based on your year end or for one year from the date I am qualify? If it is the later, does it mean that I got cleared in Jan and because your year end is Mar, I must do one more assessment in again to be valid for Apr to Mar next year again? If so, this does not make sense and waste our time. The Annual SET assessment will be conducted from 1 Feb to 31 Mar that will grant SET qualification that is valid for 1 year starting from 1 Apr. If the application by the contractor overlaps with the annual SET assessment period, then the validity period shall commence from the date of grant until the end of the next assessment year (i.e. 1 Apr – 31 Mar). Any application outside of the annual assessment period will take up to 2 months to process and hence contractors are strongly advised to apply early. 39. How does Turnkey Contractor complete the SET questionnaire as they are mainly supplying cable? SET aims to inculcate a mindset of safety being the highest priority among our contractors, hence any company that wishes to assume the role of the main contracting party with SP must meet the requirements of SET pre-qualification. During the initial implementation of the CPMS, an exception may be granted on a case-by-case basis to apply CPMS to the sub-contractor if the Main Contractor fulfills the following criteria: � � � Main Contractor is a pure supplier that does not carry out any Construction-Related work Appoints a sub-contractor that undertakes ALL installation and construction work under the contract. The appointed sub-contractor must be a SET qualified Subcontractor 40. If we understand your scheme correctly, there will not be past 2 years CPMS records for you to score us in the initial period. But if I have been doing a good job, you will agree that I should be given advantage over new ones at tender evaluation from 1 Oct? How will this be handled? In the initial launch of CPMS, all contractors new or old would start afresh as it would not be fair to measure anyone since the system have not been made known previously. However, over time with the passing of each quarter, your actual CPMS score will be taken into account which will start giving good performing contractors the advantage over poor performing and new contractors. 41. What happen if there is a tie at your Q-P score stage? SP will take all other relevant factors into consideration before making a choice. 42. Kindly confirm if the weightage of CPMS to Quality score, and weightage of Quality score to Price score are transparent to contractors, please. Both Price and Quality is important to SP. The weightage for each may vary depending on the nature of works involved. The specific weightage for each tender is however confidential and will not be made known to Contractors. Business under Surveillance (BUS) 43. Does it apply by contract or by contractor? How does this work? The BUS program applies at the contract level. It is activated when there are occurrences of critical incidents or frequent major non-conformances. Frequent major NCs means 3 or more inspections in a quarter for the same contract was found to have major NCs. 44. Why do you apply the BUS by contract but aggregate them at contractor level? Is this correct as the nature of work for each contract (or even work within same contract) can be different? The no of BUS program aggregated at the contractor level reflect the overall safety performance of the contractor. While the nature of work may vary from one contract to another, the safety management practices are very much the same. 45. The critical incidents are based on whose observations, project officers or safety officers’ inspections? Critical incidents can be identified by any SP personnel (not limited to only those from projects or GS&H) and members of public. For major NCs, only those identified by GS&H will be counted for the purposes of activating the BUS program. 46. What happens if a project officer on a routine site supervision basis identifies major non-conformances? Does it land us on BUS? For major NCs, only those identified by GS&H will be counted for the purposes of activating the BUS program. However, for any issues discovered by project officers, GS&H will follow up with the project officers to work with the contractor on corrective actions. 47. How do you count the 3 major non-conformances? When one or more major non-conformances areas spotted in three separate safety inspection, the BUS program will be activated for that contract. However, the total number of non-conformances from the three inspections will be used in the quarterly CPMS Safety Evaluation, which measures the quarterly safety performance. 48. If there are 2 or more major non-conformances observations during a safety inspection, is the number of non-conformance taken a 1 or based on the number of observations? Does the number of major non-conformances and number of bus get reset every quarter? It will be taken as 1 for the purposes of the BUS program. However, the total number of non-conformances from the three inspections will be used in the quarterly CPMS Safety Evaluation, which measures the quarterly safety performance. Yes, the number of non-conformances for BUS program purpose is reset in the new quarter. 49. How do you count the number of BUS? Is it one for safety and a separate one for operation violations? In a calendar quarter, a BUS will be computed as on the start date of the BUS and not its completion date. If, arising from the first BUS, a contractor is required to attend a second BUS and the second BUS starts within the same calendar quarter, this will count as 2 BUS programmes for that calendar quarter. If the second BUS starts on the next quarter, then the computation will be one (1) BUS programme for each of the two calendar quarters. The Conditions on BUS (Safety) and BUS (Quality) are different. When counting the no of BUS at contractor level, we will include all types of BUS programmes activated. 50. If I am on 2 BUS programmes for safety related violations, and I then have a BUS programme for cable damage, why should they be counted together? They are not related, is it fair and correct? The aggregation of BUS programmes at the contractor is a reflection of overall contractor performance. Both Safety and Quality is important to SP. 51. What happen if I get offloaded after 2 BUS programmes but before the quarter ends, I get another BUS programme, does this mean I am on 3 programmes now and will be suspended till end of the year? Yes. Any contractors who have more than two BUS programmes activated within a quarter will be suspended from further tender till the end of the Assessment Year. 52. If I am on a BUS programme and another BUS programme is triggered, is it still counted as 1 st programme or the 2 nd programme will start and how will this work? Does this mean the total time for the 2 BUS programme s is now shorter than the standard 14 weeks? If you are on the BUS program and another BUS program is activated for nonrelated issues, then both BUS programs will run concurrently to address the different problems. If Both BUS programs are activated for the same reason, then the current BUS is superseded by the 2nd BUS. During the BUS period, Contractor is expected to stay more vigilant on safety during the BUS Period. 53. If I am on a BUS program and there are major non-conformances observed, does the counting for 3 major non-conformances start again; or am I given an amnesty since I am under rehabilitation? During the BUS program, if new major safety non-conformance was spotted that meets the condition of BUS, the 2nd BUS program will be activated. Likewise, if a contractor commits a critical violation during a BUS program before he gets offloaded, the contractor will have a new BUS program activated immediately. 54. If someone committed at the same time say two critical violations at the same time inspections, is the consequence one or two BUS programs? What about the point’s deduction? If they were different critical violations then two separate BUS programs will be activated to address the different issues. If they are the same type of critical violation then only 1 BUS program will be activated. However, the two critical violations will be counted in the quarterly CPMS evaluation and each will be subject to point’s deduction. 55. If a safety major non-conformance or critical violation also results in cable damage, is the consequence one or two BUS programs? What about the point’s deduction? 1 BUS program will be activated if the cause for both violations are is due to the same incident. However, the separate violations will result in separate point reductions accordingly. 56. How do you ascertain that I can or cannot be offloaded from the BUS after 5th week or 7th week? Who will do that? At the end of the 5th or the 7th week, GS&H or Operation Audit (whichever is relevant) will carry out the inspection. The contractor will be offloaded when mitigation measures have been properly implemented and there is no further non-conformance spotted. 57. What happen if I still cannot get offloaded after the 3rd BUS? Firstly, any contractor who is on board BUS more than two times in a quarter will be suspended from future tender till the end of Assessment Year. For a contractor who can’t be offloaded after the 3rd BUS, we will review on case by case whether the contractor is still suitable to work in SP environment. 58. If someone got 3 BUS programs in Q1, he will be suspended till end of the year, i.e. for approx. 9 months. If someone gets only 3 BUS programs in Q4, he will only be suspended for a much shorter period. Is this fair? Suspension is for the purpose of allowing contractor time to focus on fixing the problems at hand so that he does not continue to perpetuate the same problems further in new contracts which may aggravate the problem and result in more serious consequences such as debarment or termination. 59. If I am on a BUS program and it straddle across two quarters? Which quarter will this BUS be marked against? The BUS is counted on the starting date. 60. If I am on a BUS program on Q1 and your week 5/7 straddles into Q2, and assuming I do not manage to get myself offloaded, you will put me on another BUS program again. Does this new BUS count as BUS program 2 for Q1 or program 1 for Q2? The new BUS is counted in Q2. 61. If I am on 2 BUS programs in Q2 and it happens that either one or both straddles into Q3? And I did not get myself offloaded in Q3 and need to trigger the next BUS, does it mean my 3rd BUS counts for Q2 or does it mean I am lucky and this will be counted as a fresh 1st BUS for Q3? The BUS program is counted from the start of the program. Hence the last BUS will be counted as in Q3. 62. You say that if I cannot get off the BUS after the 3rd time in a quarter, you will not want to spend time and resource with me anymore. Can I confirm this is the case? What about if I am on 3 BUS rides in Q1 already and either did not get myself offloaded or commit a violation that leads me to another BUS during the same quarter, do you mean there is no more BUS ride for me in the quarter? It is unlikely to get more than 2 BUS in a quarter. If it happened, the contractor will be suspended from future tender till the end of Assessment Year. The contractor will also be under closely monitored to determine his suitability to continue working for SP even under existing contracts. 63. If I am on only 1 BUS for Q1, likewise for Q2 and Q3, will you still put me on a 4th BUS if I get myself a violation either in Q3 or Q4 again? Yes, because this will only be the 2nd BUS in Q3 or 1st BUS in Q4 given number of BUS is reset every quarter. Under this situation, we will review whether you are still the suitable contractor to SP and work in SP environment. 64. If you give up on a contractor after 3 BUS programs and not going to put him on another BUS, are you not encouraging “don’t care” attitude from those erroneous contractors and at the same time goes against the your aim to work with and help contractors improve? And it means you are not taking any more action against them, isn’t this unfair to the responsible ones? For this situation, the contractor will be closely monitored by SP and we will review case by case whether you are still the suitable contractor to SP and work in SP environment. Our main concern here is safety of the workers. If the contractor is found to be no longer suitable to carry out works safely, his current contracts may also be terminated. 65. If you mean that you will not trigger any more BUS only if a contractor cannot get himself offloaded after 3 BUS programs or trigger a 4th BUS in the same quarter and everything reset after end of each quarter, then does this mean that this contractor if a poor one, will require to be on BUS again if he commits violations in the next quarter? Doesn’t this go against your concept of not wanting to spend more time with contractors who do not want to change? For this situation, the contractor will be closely monitored by SP and we will review case by case whether you are still the suitable contractor to SP and work in SP environment. Our main concern here is safety of the workers. If the contractor is found to be no longer suitable to carry out works safely, his current contracts may also be terminated. 66. I have only one contract and one work site under it. What happen if I am already near the end of the site work and am put on BUS but the remaining work itself will not have sufficient time for me to complete the BUS ride? Under such unique situation, we will modify the Bus Programme as deemed appropriate. 67. For cable damages, you mean we will be on BUS regardless whether it is our fault or not? Considering the protection measures already put in place for cables and gas pipes and there should be cable/pipes detection conducted before starting work, any damage is likely to be due to some non-conformances to requirements or work processes. The BUS program will not be activated if indeed it was found that it was wholly not contractor’s fault. 68. Do you mean stop work on site or stop issuing new work orders? It means stop the work at site. 69. When on BUS, are the stop work and other training measures applicable to only the site involved or for all sites under the same contract? How does it work? Only the affected worksite will be required to stop work to prevent further aggravation. In other words, the workers of these sites are required to attend Safety@SPPG as refresher, and project/safety people of contractor for this contract are required to attend project safety management training as refresher. 70. I have a few sites under a contract doing different work. I get onto BUS because of one violation in a particular site. Does it mean that if I do not have enough work for that site to complete the BUS program, my other sites will have to substitute for it despite of different nature? Only other sites with similar nature of work will be considered as substitutes for the BUS program. However, under such situation, we will modify the Bus Programme as deemed appropriate. 71. Is it practical to impose stop work if the road is opened and need to be closed ASAP to meet regulatory requirements? Likewise, if it is a critical urgent work like supply restoration in the case of cable damage? We will review this on case by case basis if the work has to complete on time to meet regulatory requirement. 72. How does the BUS scheme help contractors instead of punishing them? In what way is it a partnership arrangement? The approach of BUS programme is correctional first. Contractors are will not put on BUS immediately. If they commit minor non-conformance, we will work with them to fix it on the spot. When committing major non-conformance, we will activate a safety pause with the aim to fix the non-conformance and educate their workers of the safe work procedures. In other words, contractors are given opportunities to make correction on the non-conformance. Our aim is to work with them to make their work safe. Only contractors who have repeatedly commit major non-conformance or critical violation will be put on BUS. 73. Why need to suspend me if I am on more than 2 BUS in a quarter? When a contractor is on BUS more than two times, it indicates that their safety capability or/and work quality is weak and so they may not be suitable to be our contractor. The suspension provides an opportunity to improve on their safety and work capability to make them a suitable contractor to SP. 74. If you keep sending us on BUS, how do complete our work? You cannot finish work when your execution is not safe. To be able to complete on time, one must make sure that the work is executed safely. The BUS program helps contractor fix the lapse when spotted and before next incident occurs.

Search Reliabilityhttps://www.spgroup.com.sg/about-us/media-resources/energy-hub/reliability/Empowering-talent SP Energy HubAnnual ReportReliabilitySustainabilityInnovation Empowering talent RELIABILITY With a staff strength of more than 3,700, how do the People of SP stay connected and build a collaborative culture to achieve synergistic outcomes? We speak to Benjamin Festin, Vice President of Human Category: Reliability Reliabilityhttps://www.spgroup.com.sg/about-us/media-resources/energy-hub/reliability/always-here-for-you SP Energy HubAnnual ReportReliabilitySustainabilityInnovation Always Here for You RELIABILITY Life should be free of interruption. But when it happens, we know what it means for you to have things back to normal without delay. Our officers stand by 24/7 to respond immediately, should electricity Category: Reliability Reliabilityhttps://www.spgroup.com.sg/about-us/media-resources/energy-hub/reliability/best-in-class-customer-experience-with-a-personal-touch SP Energy HubAnnual ReportReliabilitySustainabilityInnovation Best-in-class customer experience, with a personal touch RELIABILITY Our colleagues inspire us with their talent, dedication and capacity to juggle many hats in their profession, family and the community. Meet Jacqueline Chew as she Category: Reliability Reliabilityhttps://www.spgroup.com.sg/about-us/media-resources/energy-hub/reliability/electricitys-first-responders SP Energy HubAnnual ReportReliabilitySustainabilityInnovation Electricity’s First Responders RELIABILITY SP Group’s Principal Engineer Jerome Choong is one of the first at the scene should an electricity disruption happen. Five-year-old Jovan thinks his father Jerome Choong, an SP Group Principal Category: Reliability Reliabilityhttps://www.spgroup.com.sg/about-us/media-resources/energy-hub/reliability/partnership-with-pub-in-ema-demand-response-and-interruptible-load-programmes SP Energy HubAnnual ReportReliabilitySustainabilityInnovation Partnership with PUB in EMA’s Demand Response and Interruptible Load programmes RELIABILITY (from left) Stanley Huang, Group CEO, SP Group;S Harsha, Managing Director, Sustainable Energy Solutions, SP Group; Harry Seah, Deputy Chief Category: Reliability Reliabilityhttps://www.spgroup.com.sg/about-us/media-resources/energy-hub/reliability/Faster-repairs-fewer-disruptions-Meet-the-innovative-teams-using-smart-tech-to-keep-your-piped-gas-supply-flowing Faster repairs, fewer disruptions: Meet the innovative teams using smart tech to keep your piped gas supply flowing RELIABILITY Louis Ang and Muhammad Hadi Abu Bakar from Gas Operations in SP Group. SP Group's gas operations team employs cutting-edge technology to ensure a steady gas supply. Louis Category: Reliability Reliabilityhttps://www.spgroup.com.sg/about-us/media-resources/energy-hub/reliability/pushing-boundaries-to-impact-future-generations SP Energy HubAnnual ReportReliabilitySustainabilityInnovation Pushing boundaries to impact future generations RELIABILITY Managing high voltage equipment is all in a day’s work for our senior engineer Tan Jie Yi. She works in the Transmission Operation and Maintenance team, part of the 24/7 Category: Reliability Reliabilityhttps://www.spgroup.com.sg/about-us/media-resources/energy-hub/reliability/mobile-generators-powering-continuity SP Energy HubAnnual ReportReliabilitySustainabilityInnovation Mobile Generators: Powering Continuity RELIABILITY Mohamed Nasir bin Mohamed Ismail, Technical Officer, Electricity Operations (center) together with Ismet Imran bin Chuma'ing, Senior Technician, Electricity Operations (left Category: Reliability Reliabilityhttps://www.spgroup.com.sg/about-us/media-resources/energy-hub/reliability/eye-on-the-grid SP Energy HubAnnual ReportReliabilitySustainabilityInnovation Eye on the Grid RELIABILITY Mr Tan Teck Wee, Head, Distribution Control & Customer Service (standing), with Principal Operation Officer Ghazali Bin Mohamed Rahim in the Distribution Control Centre. The ringing of Tan Teck Wee’s phone Category: Reliability Reliabilityhttps://www.spgroup.com.sg/about-us/media-resources/energy-hub/reliability/not-leaving-gas-safety-to-chance SP Energy HubAnnual ReportReliabilitySustainabilityInnovation Not Leaving Gas Safety to Chance RELIABILITY SP’s gas safety ambassadors: (from left) Technician Roslee bin Mohamed Moksin, Engineer Lydia Koh and Technical Officer Muhammad Rezduan bin Abdullah. Gas Engineer Lydia Koh, 24, had just Category: Reliability Reliabilityhttps://www.spgroup.com.sg/about-us/media-resources/energy-hub/reliability/transforming-to-serve-you-better SP Energy HubAnnual ReportReliabilitySustainabilityInnovation Transforming to Serve You Better RELIABILITY In providing customers greater convenience, we aim to deliver a more unified, seamless experience, bringing savings in energy, time and cost. Instrumental in making these possible are digital Category: Reliability Reliabilityhttps://www.spgroup.com.sg/about-us/media-resources/energy-hub/reliability SP Energy HubAnnual ReportReliabilitySustainabilityInnovation RELIABILITY We invest in infrastructure, technology and manpower, and make long-term plans to renew aging assets, so that we can continue to provide our customers with efficient and reliable power supply. Engineer, 27, shares how she 1 2 3 4 5 ..... 21

Search Average-Water-Consumption--CuM-_Jan-24-to-Dec-24.xlsxhttps://www.spgroup.com.sg/dam/spgroup/docs/our-services/utilities/tariff-information/Average-Water-Consumption--CuM-_Jan-24-to-Dec-24.xlsx Consumption_Water Average consumption of Water (CuM) Premises Types Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 HDB 1-Room 7.8 8.0 8.3 8.4 8.1 7.7 7.5 8.1 8.3 7.9 8.1 7.8 HDB 2-Room 9.3 9.3 9.7 10.0 9.5 8.7 8.7 9.4 9.5 9.2 9.3 9.0 HDB 3-Room 12.0 12.2 12.8 12.9 12.0 11.5 11.6 12.4 12.5 12.2 12.2 12.0 HDB 4-Room 15.0 15.5 16.2 16.3 15.3 14.7 14.6 15.6 15.7 15.3 15.5 15.1 HDB 5-Room 16.1 16.7 17.8 17.7 16.7 16.0 15.6 16.9 17.1 16.7 17.0 16.4 HDB Executive 18.1 18.8 19.9 19.7 18.6 17.7 17.7 18.8 19.1 18.5 18.8 18.1 Apartment 12.8 13.1 14.4 14.3 13.2 12.7 12.5 13.1 13.8 13.8 13.8 13.3 Terrace 24.3 25.8 28.0 28.4 24.2 24.1 24.7 25.7 26.7 25.9 26.2 25.6 Semi-Detached 30.0 30.7 34.9 34.6 30.2 28.3 30.0 31.5 33.4 31.4 32.2 30.9 Bungalow 49.4 46.3 59.5 58.1 50.4 42.1 49.6 48.1 54.7 52.4 52.4 50.2 FAQs eBusiness Portal.pdfhttps://www.spgroup.com.sg/dam/jcr:4a47af05-b5ec-480a-b47a-e45daac8932f/FAQs%20eBusiness%20Portal.pdf FAQs eBusiness Portal 1. Do I need to personally submit documents to SP Group? All supporting documents required for your requests/applications are to be uploaded onto the eBusiness portal. You need not visit SP Group personally to submit documents. 2. Can I access the portal without creating a user account? No, you need a valid user account to access the portal. 3. How many user accounts can I create? You can only create one user account per email address (For LEWs accounts, there can only be one account per LEW licence number). To create a new account, go to the eBusiness portal login page and click “Create new account”. 4. How will I know that my user registration is successful? You will receive a confirmation email containing a link to reset your password if your registration is successful. If you do not receive the email in your inbox, please check your "spam" or "junk" folder. 5. Is the SP eBusiness Portal free to use? Yes, it is. 6. Am I able to delete my user account after creation? No, user accounts cannot be deleted once created. 7. Why is my user account locked? After your account has been activated, your account will be locked if you entered your password wrongly five times. 8. How I do unlock my account? You can reactivate your account by going to the eBusiness portal login page and click “Account login issues”. Select “My account is locked – unlock my account” option. Follow the on-screen instructions and you will receive an email containing a link to reset your password. 9. What should I do if I forget my username and password? Go to the eBusiness Portal login page and click “Account login issues”. Select “Forget User ID / Password” option. Follow the on-screen instructions and you will receive an email containing a link to reset your password. 10. What are the functionalities of the dashboard? You can submit new applications and requests, view progress, upload documents, view/edit applications and download forms in PDF (entering equipment data and submitting claims for SP Contractors/Consultants). 11. The eBusiness portal login page looks quite odd on my computer screen. This website is best experienced on Google Chrome, and Microsoft Edge. National-Average-Household-Consumption----_Nov-23-to-Oct-24.xlsxhttps://www.spgroup.com.sg/dam/spgroup/docs/our-services/utilities/National-Average-Household-Consumption----_Nov-23-to-Oct-24.xlsx Utility Bill Avg_With Gas Utility Bill Average ($) for households with gas Premises Types Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 HDB 1-Room 80.39 77.86 77.18 78.99 81.28 87.54 87.29 84.83 81.86 87.86 87.69 83.11 HDB 2-Room 94.79 90.73 89.63 91.78 94.78 103.49 102.84 98.53 96.07 102.96 101.39 96.90 HDB 3-Room 118.49 112.22 112.11 115.94 120.33 132.29 128.10 124.29 121.74 129.94 128.83 123.83 HDB 4-Room 140.04 133.47 131.31 137.04 142.66 156.01 153.34 147.42 143.11 152.92 152.86 146.17 HDB 5-Room 148.87 141.61 136.79 144.16 151.97 165.19 162.85 156.27 149.96 161.67 162.41 156.08 HDB Executive 164.43 154.00 153.21 160.98 168.72 184.59 180.19 172.48 168.80 178.86 180.50 172.04 Apartment 177.46 164.16 156.19 163.04 179.66 198.71 191.52 184.01 175.50 181.94 191.11 186.36 Terrace 276.46 260.00 252.25 270.34 290.38 311.38 286.03 283.33 283.80 289.68 301.49 291.00 Semi-Detached 349.78 325.65 324.20 335.52 370.67 392.95 372.29 354.71 361.00 367.73 385.46 366.17 Bungalow 699.45 627.26 650.18 619.13 718.02 776.44 731.30 675.72 711.32 685.95 762.28 719.32 Note: The figures exclude electricity charges for PAYU customers and customers who are not purchasing electricity at the regulated tariff. Utility Bill Avg_WO Gas Utility Bill Average ($) for households without gas Premises Types Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 HDB 1-Room 71.86 69.16 67.69 69.30 71.92 78.05 78.52 76.28 73.55 78.77 78.62 74.36 HDB 2-Room 85.94 81.99 80.46 82.23 85.21 93.42 93.59 89.84 87.41 93.80 92.26 88.22 HDB 3-Room 106.15 100.27 99.66 102.84 107.06 118.11 115.38 112.09 109.70 116.95 115.78 111.35 HDB 4-Room 124.99 118.78 116.20 120.97 126.03 138.53 137.64 132.74 128.46 137.02 136.76 130.76 HDB 5-Room 132.27 125.43 120.56 126.60 133.43 145.81 145.63 140.07 134.00 144.16 144.59 138.87 HDB Executive 146.81 137.03 135.88 142.35 149.14 163.91 161.79 155.45 151.54 160.36 161.59 153.95 Apartment 156.79 144.07 135.03 140.09 155.96 175.31 171.33 164.80 156.02 161.06 169.18 164.23 Terrace 251.12 235.05 227.31 243.21 259.98 282.50 262.69 259.01 258.83 264.59 274.69 263.93 Semi-Detached 319.99 297.18 295.56 305.12 337.24 359.90 342.81 328.12 331.78 338.46 354.82 336.52 Bungalow 650.72 578.80 597.47 570.77 662.48 717.39 678.65 633.29 661.40 638.62 711.71 667.03 Note: The figures exclude electricity charges for PAYU customers and customers who are not purchasing electricity at the regulated tariff. [20181102]+Media+Release+-+SP+Develops+Future+Energy+Leaders+Through+First+Energy+Managers+Programme+And+Industry+Scholarships.pdfhttps://www.spgroup.com.sg/dam/spgroup/wcm/connect/spgrp/eb336278-8c06-4ff2-8f90-5bb0b99e6533/%5B20181102%5D+Media+Release+-+SP+Develops+Future+Energy+Leaders+Through+First+Energy+Managers+Programme+And+Industry+Scholarships.pdf?MOD=AJPERES&CVID= News Release SP DEVELOPS FUTURE ENERGY LEADERS THROUGH FIRST ENERGY MANAGERS PROGRAMME AND INDUSTRY SCHOLARSHIPS Singapore, 2 November 2018 – Singapore Institute of Power and Gas (SIPG), as the centralised training institute for the power and gas sectors, announced today the successful completion of its first Energy Managers Programme (EMP). The pioneer cohort of 19 energy sector professionals was recognised in a ceremony during Singapore International Energy Week 2018, witnessed by Dr Tan Wu Meng, Senior Parliamentary Secretary, Ministry of Trade and Industry and Ministry of Foreign Affairs. The programme, which is under the SkillsFuture Leadership Development Initiative, is designed to build a pipeline of strong leaders for the energy sector as they address issues and opportunities in today’s transforming and disruptive landscape. Building on its inaugural run, SIPG is opening its programme to participants from ASEAN utilities and other international companies in the energy value chain, curating a broader range of experiences, perspectives and real-world applications. Mr Peter Leong, Principal of SIPG, said, “We customised this programme to help energy industry managers hone their well-rounded leadership skills through blended learning in the classroom and field trips to companies in Singapore and overseas. They have personally benefitted from networking with peers from across the value chain. They have also gleaned insights on driving advancement and innovation amidst the rapid industry disruption, in order to serve all consumers better.” Spanning five months from February this year, the programme’s first participants were emerging leaders from generation companies and SP Group. Through workshops, dialogues with senior leaders from the energy sector and government, as well as a learning trip to China, the participants were exposed to pertinent challenges the industry faces, in Singapore and around the region. They also gained valuable insights from individual coaching sessions and working on action projects. Mr Neo Bing Hui, Senior Operations Engineer, YTL PowerSeraya Ltd, said, “The Energy Managers Programme (EMP) has helped broaden my views of the industry in general, providing a different perspective of how challenges can be viewed in the energy sector. After going through EMP, I have gleaned more insights on my leadership style and how I can effectively improve communication with my team mates. I am excited to start applying what I've learnt from this programme.” The pressing need to inspire the energy sector to groom the next generation of energy leaders is why the Energy Market Authority is supporting the programme. Its Chief Executive, Mr Ngiam Shih Chun, said: “For the energy sector to embrace new opportunities and challenges, there is a need to engage and develop tomorrow's energy leaders. They will need to be agile and adopt a growth mindset to lead their organisations forward. EMA supports SIPG in playing a crucial role in providing a programme to grow our future energy leaders.” Nurturing engineering talent In developing future engineering talent, SP Group also awarded two Energy-Industry Scholarships to students from institutions of higher learning – Ms Choo Wei Ming, 19, from Ngee Ann Polytechnic and Mr Muhammad Syahiran bin Jamal, 20, from Singapore Polytechnic. SP Group’s Chief Human Resource Officer, Mr Ng Seng Huwi, presented the scholarships to Wei Ming and Muhammad Syahiran, at a ceremony during the Youth@SIEW event earlier today. The scholarship serves to nurture talent for the energy sector and support students with a passion for engineering in achieving academic and career aspirations. They will join SP Group when they complete their studies. About SP Group SP Group is a leading energy utilities group in the Asia Pacific. It owns and operates electricity and gas transmission and distribution businesses in Singapore and Australia, and district cooling businesses in Singapore and China. SP Group is committed to providing customers with reliable and efficient energy utilities services. About 1.5 million industrial, commercial and residential customers in Singapore benefit from SP Group’s world-class transmission, distribution and market support services. These networks are amongst the most reliable and cost-effective world-wide. SP Group also drives digital solutions to empower customers to manage their utilities, reduce consumption and save cost. For more information, please visit spgroup.com.sg or for follow us on Facebook at fb.com/SPGroupSG and on Twitter @SPGroupSG. Commercial Utilities Guide | SP Grouphttps://www.spgroup.com.sg/our-services/utilities/quick-guide-to-your-utilities-commercial OverviewUtilities Quick Guide ResidentialUtilities Quick Guide CommercialGo green, go paperlessTariff informationOpen Electricity MarketFAQsForm & ResourcesChat with Us Utilities Quick Guide Commercial Getting Started for Your Commercial Utilities Account Determine the Use of your Premises Residential – Domestic Use:                   For premises that are used exclusively for residential purposes. Commercial – Non-Domestic Use:        For premises that are used for the purpose of, or in connection with any trade, business or profession. Note: It is important to declare the use of premises correctly as it is an offence under the Public Utilities Act (Cap. 261) to make any false statement, representation or declaration in connection with the application for water supplied by the Public Utilities Board (PUB).     Choose the Type of Supply required Permanent Supply: Application for any residential, trade, business or professional use. Temporary Supply: Application for the following types of premises.              (a) Construction Site              (b) Street Opera (e.g., Wayang)              (c) Site Office              (d) Gondola Security Deposit & Supply Capacity for Permanent Supply Security Deposit for Temporary Supply Opening Your Commercial Utilities Account Application Channels SP app - iOS and Android SP Group Website Customer Service Centre   Required Documents Under Personal Name  Application form (Completed and signed) Valid identification document Documentary proof of occupancy Security deposit Under Company Name Application form (Completed and signed by director listed in business profile document) Latest ACRA with detailed business profile or Bizfile Documentary proof of occupancy Acknowledgement of Electrical Installation Licence Requirement Form (EIL Form) (for premises with electricity load more than 45kVA) Security deposit Documents required upon request Copy of Director's NRIC/FIN card [Front and Back] Letter of Authorization^ – if signatory is not a Director according to ACRA listing ^Letter with company letterhead indicating its representative's name and identification number Additional Documents for Temporary Supply Quotation for Electricity Supply Connection and LEI issued by EMA Water quotation from PUB When can Supplies be Turned on? Express Turn-On Requirements Same-day express turn-on service is subject to availability and an express service charge fee. Please note that express service is unavailable for premises with: Electricity supply capacity exceeding 45kVA Water meters exceeding 25mm Commercial gas Electricity currently supplied from the Open Electricity Market (OEM) via a licensed electricity retailer or SP Group at the wholesale electricity price   Managing Your Commercial Utilities Account SP app or SP Utilities Portal Sign up for an e-account to manage your utilities account.  An e-account allows you to easily access your utilities account information. You can view and pay your bills, monitor your consumption and perform self-help transactions. Submit Meter Readings Meter readings are taken once every two months. On months where meters are not read, your bill will be estimated based on the average daily usage between your last two actual reads. Your bill will be adjusted when your meters are next read. To avoid bill estimation, we strongly encourage customers to make use of the following services available for submission of meter readings: SP Utilities Portal Submit your reading online via the Utilities Portal and learn tips on how you can better manage your utility consumption. Note: An SP Utilities Portal account is required to use this service. This service is applicable for residential accounts under Personal Name. Please note that if there is more than 1 electricity meter registered to the account, this service is not applicable. SP app Email Email a photo of your meter clearly showing the meter reading and meter number to customerreading@spgroup.com.sg. Important Note: For meter reading submissions due on weekends and public holiday, kindly use the SP Utilities Portal or SP app modes. Paying Your Utilities Bills Pay your utilities bills via the following convenient methods: eGIRO ​Apply online via SP Utilities Portal or SP App Approval is within 48 hours Status of application can be checked via SP Utilities Portal or SP App Other Payment Modes PayNow QR on the SP app and SP Utilities Portal Internet Banking AXS stations 7-Eleven stores (not available for account numbers starting with ‘93’) DBS/POSB/OCBC Automated Teller Machines (ATMs) Note: Pink notices are issued as a reminder when payments are not made by the due date. A fee of $0.55 (inclusive of GST) applies and will be reflected in the next bill. If no payment is received after the reminder, a late payment charge of 1% will be imposed on any outstanding balance in the subsequent bill. Cessation of card payment for non-domestic SP Utilities bills  Kindly note that we will no longer accept credit and debit card payments for non-domestic SP Utilities bills from 1 Nov 2025.  Existing recurring card deductions on the SP app will cease from Nov 2025 bills onwards.  Please apply for eGIRO or pay by other payment modes. Learn more     Closing Your Utilities Account Required Documents Under Personal Name NRIC/FIN (Front and back) Under Company Name Latest ACRA with detailed business profile or Bizfile Documents required upon request Copy of Director's NRIC/FIN card [Front and Back] Letter of Authorisation^ – if signatory is not a Director according to ACRA listing ^To be authorised by the Director listed in the recent ACRA detailed Business Profile/ Bizfile on the letterhead issued by the company, indicating its representative's name and identification number, i.e. NRIC or FIN. Channels available to close your account ​ SP app - iOS and Android SP Group Website Customer Service Centre Things to note after closing your utilities account Refund of Security Deposit The security deposit will be used to offset the final charges. Any credit balance may be transferred to other accounts under your name. If there is any balance, it will be refunded to your GIRO account or mailed to you by cheque between 4 – 6 weeks. GIRO arrangement will automatically be terminated after the final charges have been deducted from your GIRO account. Termination of Gas Supply  For termination of gas supply, City Energy charges a termination fee for commercial premises. Separate gas appliance disconnection fee is chargeable if required. Please refer to www.cityenergy.com.sg for more information. [20191230] Media Release - Electricity Tariff Revision For The Period 1 Jan - 31 Mar 2020https://www.spgroup.com.sg/dam/spgroup/wcm/connect/spgrp/09726f6b-7280-4049-a757-b9bb75f312d1/%5B20191230%5D+Media+Release+-+Electricity+Tariff+Revision+For+The+Period+1+January+to+31+March.pdf?MOD=AJPERES&CVID= MEDIA RELEASE ELECTRICITY TARIFF REVISION FOR THE PERIOD 1 JANUARY TO 31 MARCH 2020 Singapore, 30 December 2019 – For the period from 1 January to 31 March 2020, electricity tariffs (before 7% GST) will increase by an average of 3.5% or 0.81 cent per kWh compared with the previous quarter. This is due to higher energy cost compared with the previous quarter. For households, the electricity tariff (before 7% GST) will increase from 23.43 to 24.24 cents per kWh for 1 January to 31 March 2020. The average monthly electricity bill for families living in four-room HDB flats will increase by $2.76 (before 7% GST) (see Appendix 3 for the average monthly electricity bill for different household types). Cents/kWh 25.00 24.00 23.00 22.00 21.00 20.00 19.00 18.00 17.00 16.00 15.00 Quarterly Household Electricity Tariff* 24.13 23.65 23.85 24.22 24.24 23.43 22.79 22.15 Apr - Jun '18 Jul - Sep '18 Oct - Dec '18Jan - Mar '19 Apr - Jun '19 Jul - Sep '19 Oct - Dec '19Jan - Mar '20 *before 7% GST SP Group reviews the electricity tariffs quarterly based on guidelines set by the Energy Market Authority (EMA), the electricity industry regulator. The tariffs given in Appendix 1 have been approved by the EMA. Issued by: SP Group 2 Kallang Sector Singapore 349277 www.spgroup.com.sg Appendix 1 ELECTRICITY TARIFFS FROM 1 JANUARY 2020 LOW TENSION SUPPLIES, DOMESTIC All units, ¢/kWh LOW TENSION SUPPLIES, NON-DOMESTIC All units, ¢/kWh HIGH TENSION SMALL (HTS) SUPPLIES Contracted Capacity Charge $/kW/month Uncontracted Capacity Charge $/chargeable kW/month kWh charge, ¢/kWh Peak period (7.00am to 11.00pm) Off-peak period (11.00pm to 7.00am) Reactive power Charge ¢/chargeable kVARh HIGH TENSION LARGE (HTL) SUPPLIES Contracted Capacity Charge $/kW/month Uncontracted Capacity Charge $/chargeable kW/month kWh charge, ¢/kWh Peak period (7.00am to 11.00pm) Off-peak period (11.00pm to 7.00am) Reactive power Charge ¢/chargeable kVARh EXTRA HIGH TENSION (EHT) SUPPLIES Contracted Capacity Charge $/kW/month Uncontracted Capacity Charge $/chargeable kW/month kWh charge, ¢/kWh Peak period (7.00am to 11.00pm) Off-peak period (11.00pm to 7.00am) Reactive power Charge ¢/chargeable kVARh Existing Tariff (without GST) New Tariff (without 7% GST) New Tariff (with 7% GST) 23.43 24.24 25.94 23.43 24.24 25.94 8.90 8.90 9.52 13.35 13.35 14.28 20.85 21.76 23.28 12.71 13.28 14.21 0.59 0.59 0.63 8.90 8.90 9.52 13.35 13.35 14.28 20.63 21.54 23.05 12.70 13.27 14.20 0.59 0.59 0.63 7.87 7.87 8.42 11.81 11.81 12.64 19.72 20.62 22.06 12.60 13.16 14.08 0.48 0.48 0.51 Appendix 2 BREAKDOWN OF ELECTRICITY TARIFF 1. The electricity tariff consists of the following four components: a) Energy costs (paid to the generation companies): This component is adjusted quarterly to reflect changes in the cost of fuel and power generation. The fuel cost is the cost of imported natural gas, which is tied to oil prices by commercial contracts. The cost of power generation covers mainly the costs of operating the power stations, such as the manpower and maintenance costs, as well as the capital cost of the stations. b) Network costs (paid to SP PowerAssets): This fee is reviewed annually. This is to recover the cost of transporting electricity through the power grid. c) Market Support Services Fee (paid to SP Services): This fee is reviewed annually. This is to recover the costs of billing and meter reading, data management, retail market systems as well as for market development initiatives. d) Market Administration and Power System Operation Fee (paid to Energy Market Company and Power System Operator): This fee is reviewed annually to recover the costs of operating the electricity wholesale market and power system. Q1 2020 TARIFF (before 7% GST) Market Admin & PSO Fee (No Change) 0.06¢/kWh (<1%) MSS Fee (No Change) 0.40¢/kWh (1.7%) %) Network Costs (No Change) 5.44¢/kWh (22.4%) Energy Costs (Increase by 0.81¢/kWh) 18.34¢/kWh (75.7%) Appendix 3 AVERAGE MONTHLY ELECTRICITY BILLS OF DOMESTIC CUSTOMERS (TARIFF WEF 1 JANUARY 2020) (before 7% GST) Types of Premises Average monthly consumption per Customer Average Monthly Bill New Average Monthly Bill Average Change in Monthly Bill kWh $(a) $(b) $(b-a) % HDB 1 Room 125.84 29.48 30.50 1.02 3.5 HDB 2 Room 168.47 39.47 40.84 1.37 3.5 HDB 3 Room 249.72 58.51 60.53 2.02 3.5 HDB 4 Room 340.08 79.68 82.44 2.76 3.5 HDB 5 Room 395.84 92.75 95.95 3.20 3.5 HDB Executive 485.11 113.66 117.59 3.93 3.5 Apartment 530.96 124.40 128.70 4.30 3.5 Terrace 803.92 188.36 194.87 6.51 3.5 Semi-Detached 1,084.08 254.00 262.78 8.78 3.5 Bungalow 2,254.95 528.33 546.60 18.27 3.5 Average 396.44 92.89 96.10 3.21 3.5 SPGroup-Financial-Statements-FY2122.pdfhttps://www.spgroup.com.sg/dam/spgroup/pdf/about-us/investor-relations/overview/SPGroup-Financial-Statements-FY2122.pdf ANNUAL REPORT TABLE OF CONTENTS Singapore Power Limited and its subsidiaries Annual Report Year ended 31 March 2022 Table of Contents Directors’ statement 1 Independent Auditor’s Report Balance sheets 7 10 Income statements 11 Statements of comprehensive income 12 Statements of changes in equity 13 Consolidated statement of cash flows 16 Notes to the financial statements 18 1 Domicile and activities 18 2 Basis of preparation 18 2.1 Statement of compliance 18 2.2 Basis of measurement 18 2.3 Functional and presentation currency 18 2.4 Use of estimates and judgements 19 2.5 Changes in accounting policies 20 3 Significant accounting policies 21 3.1 Basis of consolidation 21 3.2 Foreign currencies 23 3.3 Property, plant and equipment 24 3.4 Intangible assets 25 3.5 Investment property under development 26 3.6 Financial instruments 27 3.7 Impairment 32 3.8 Inventories 34 3.9 Accrued revenue 34 3.10 Contract balances 34 3.11 Employee benefits 34 3.12 Provisions 35 3.13 Government grant 35 3.14 Deferred construction cost compensation 35 3.15 Deferred income 36 3.16 Regulatory deferral account (“RDA”) debit or credit balances 36 Singapore Power Limited and its subsidiaries Annual Report Year ended 31 March 2022 Table of Contents 3.17 Price regulation and licence 36 3.18 Revenue recognition 37 3.19 Leases 38 3.20 Finance income and costs 40 3.21 Tax expense 40 3.22 Segment reporting 41 3.23 New standards and interpretations not yet adopted 41 4 Property, plant and equipment 42 5 Right-of-use assets / Lease liabilities 44 6 Intangible assets 46 7 Investment property under development 48 8 Subsidiaries 48 9 Associates and joint ventures 50 10 Other non-current assets 54 11 Deferred taxation 56 12 Derivative assets and liabilities 58 13 Investments in debt and equity securities 64 14 Inventories 64 15 Trade and other receivables 65 15a Trade receivables 65 15b Other receivables, deposits and prepayments 67 15c Balances with subsidiaries, associate and joint venture (non-trade) 68 16 Cash and cash equivalents 68 17 Regulatory deferral accounts 69 18 Share capital 71 19 Reserves 71 20 Debt obligations 73 21 Other non-current liabilities 75 21a Deferred income 75 21b Deferred construction cost compensation 76 21c Provisions 76 22 Trade and other payables 77 22a Other payables and accruals 77 23 Revenue 78 Singapore Power Limited and its subsidiaries Annual Report Year ended 31 March 2022 Table of Contents 24 Other income 25 Finance income 26 Finance costs 27 Tax expense 28 Profit for the year 29 Related parties 30 Operating segments 31 Financial risk management 32 Fair values 33 Commitments 34 Dividends 79 79 80 81 82 83 84 87 97 100 101 Singapore Power Limited and its subsidiaries Directors’ statement Year ended 31 March 2022 1 Directors’ statement We are pleased to submit this annual report to the member of Singapore Power Limited (the “Company”) together with the audited financial statements for the financial year ended 31 March 2022. Opinion of the Directors In our opinion, (a) (b) the financial statements are drawn up so as to give a true and fair view of the financial position of the Company and its subsidiaries (the “Group”) as at 31 March 2022 and the financial performance, changes in equity and cash flows of the Group and of the financial performance and changes in equity of the Company for the year ended on that date in accordance with the provisions of the Companies Act 1967 (the “Act”) and Singapore Financial Reporting Standards (International) (“SFRS(I)”); and at the date of this statement, there are reasonable grounds to believe that the Company will be able to pay its debts as and when they fall due. Directors The directors in office at the date of this statement are as follows: Tan Sri Mohd Hassan Marican Ms Leong Wai Leng Mr Ong Yew Huat Mr Timothy Chia Chee Ming Mr Ng Kwan Meng Ms Goh Swee Chen Mr Lee Kim Shin Prof Yaacob Bin Ibrahim (appointed on 1 September 2021) Mr Stanley Huang Tian Guan Directors’ interests According to the register kept by the Company for the purposes of Section 164 of the Act, particulars of interests of directors who held office at the end of the financial year (including those held by their spouses and infant children) in shares, debentures, warrants and share options in the Company and in related corporations are as follows: Singapore Power Limited and its subsidiaries Directors’ statement Year ended 31 March 2022 2 Name of director and related corporations in which interests (fully paid ordinary shares unless otherwise stated) are held Holdings at beginning of the year / date of appointment Holdings at end of the year Tan Sri Mohd Hassan Marican Singapore Airlines Limited - 3.13% Notes due 2026 CapitaLand Treasury Limited - 4.076% Notes due 20 September 2022 Sembcorp Marine Ltd # CapitaLand Integrated Commercial Trust – units Mapletree Commercial Trust – units S$250,000 USD200,000 – – – S$250,000 USD200,000 9,694,126 1 41,976 62,653 Ms Leong Wai Leng CapitaLand Limited CapitaLand Investment Limited CapitaLand Integrated Commercial Trust – units Mapletree Commercial Trust – units Mapletree Commercial Trust - 3.11% Notes due 24 August 2026 Mapletree Industrial Trust – units Mapletree Real Estate Advisors Pte. Ltd. – units - Great Cities Logistics (US) Trust - Great Cities Logistics (Europe) Trust - Mapletree Global Student Accommodation Pte Trust - USD – Class A units - GBP – Class B units 40,000 – 689,700 39,057 S$250,000 –* 40,000* 695,886* 39,057 S$250,000 450 500 371 371 371 371 1,685 1,685 1,685 1,685 Mapletree Treasury Services Limited - 3.58% Bonds due 2029 - 3.15% Notes due 3 September 2031 S$250,000 S$250,000 S$250,000 S$250,000 1 The shares are held in the name of Credit Suisse AG Singapore Singapore Power Limited and its subsidiaries Directors’ statement Year ended 31 March 2022 3 Name of director and related corporations in which interests (fully paid ordinary shares unless otherwise stated) are held Holdings at beginning of the year / date of appointment Holdings at end of the year Singapore Airlines Limited 9,800 9,800 Singapore Airlines Limited - Mandatory Convertible Bonds SIA MCBZ300608 - SIA MCBZ 2021 Singapore Airlines Limited - 3.145% Notes due 8 April 2021 - 3.16% Notes due 2023 Singapore Technologies Engineering Ltd Singapore Technologies Telemedia Pte Ltd - 4.05% Notes due 2 December 2025 - STT GDC 3.13% Bonds due 28 July 2028 Singapore Telecommunications Limited StarHub Limited Altrium Private Equity Fund I GP Limited - Interest as limited partner in the Altrium PE Fund I F&F L.P. Fund Altrium Private Equity Fund II GP Limited - Interest as limited partner in the Altrium PE Fund II F&F L.P. Fund Vertex Master Fund II (GP) Pte. Ltd. - Interest as limited partner in Vertex Master Fund II Ascendas Real Estate Investment Trust - 2.47% Notes due 10 August 2023 2 Astrea IV Pte. Ltd. - 4.35% Class-A1 Secured Bonds due 14 June 2028 - 6.75% Class-B Secured Bonds due 14 June 2028 Astrea V Pte. Ltd. - 3.85% Class-A1 Secured Bonds due 20 June 2029 - 4.50% Class-A2 Secured Bonds due 20 June 2029 17,000 – S$250,000 S$250,000 41,000 S$250,000 S$500,000 22,027 36,000 36,000 Commitment amount of USD500,000 – Commitment amount of USD500,000 S$250,000 S$336,000 USD200,000 S$214,000 USD200,000 17,000 20,482 – S$250,000 – S$250,000 S$500,000 22,027 Commitment amount of USD500,000 Commitment amount of USD1,000,000 Commitment amount of USD500,000 S$250,000 S$336,000 USD200,000 S$214,000 USD200,000 2 Held jointly with spouse. Singapore Power Limited and its subsidiaries Directors’ statement Year ended 31 March 2022 4 Name of director and related corporations in which interests (fully paid ordinary shares unless otherwise stated) are held Holdings at beginning of the year / date of appointment Holdings at end of the year Astrea VI Pte. Ltd. - 3.00% Class-A1 Secured Bonds due 18 March 2031 - 3.25% Class-A2 Secured Bonds due 18 March 2031 - 4.35% Class-B Secured Bonds due 18 March 2031 S$105,000 USD200,000 USD400,000 S$105,000 USD200,000 USD400,000 Fullerton Fund Management Company Ltd - Fullerton Optimised Alpha Fund Class A USD – units - Fullerton USD Income Fund Class A (SGD hedged) – – 5,000 S$500,000 Temasek Financial (IV) (Private) Limited - 1.8% 5-years T2026 S$ Temasek Bond – S$30,000 Mr Ong Yew Huat Sembcorp Marine Ltd # – 500,000 Mr Timothy Chia Chee Ming Singapore Telecommunications Limited Vertex Master Fund II (GP) Pte. Ltd. - Interest as limited partner in VMII Affiliates Fund LP Vertex Venture Holdings Ltd Commitment amount of USD250,000 2,070 2,070 Commitment amount of USD250,000 - 3.30% Notes due 2028 – S$250,000 Mr Ng Kwan Meng Singapore Telecommunications Limited Singapore Technologies Engineering Ltd Starhub Limited Mapletree North Asia Commercial Trust – units Sembcorp Marine Ltd # CapitaLand Integrated Commercial Trust – units CapitaLand Limited CapitaLand Investment Limited 85,350 25,000 6,000 22,000 – 153,184 61,000 – 85,350 5,000 6,000 – 1,720,000 162,618* –* 61,000* Singapore Power Limited and its subsidiaries Directors’ statement Year ended 31 March 2022 5 Name of director and related corporations in which interests (fully paid ordinary shares unless otherwise stated) are held Holdings at beginning of the year / date of appointment Holdings at end of the year Ms Goh Swee Chen CapitaLand Limited CapitaLand Investment Limited CapitaLand Integrated Commercial Trust – units Singapore Telecommunications Limited Singapore Airlines Limited Singapore Airlines Limited - Mandatory Convertible Bond SIA MCBZ300608 34,592 – – 5,000 18,550 3,835 –* 46,709* 7,224* 5,000 18,550 42,604 Mr Lee Kim Shin Singapore Telecommunications Limited Singapore Airlines Limited Singapore Airlines Limited - SIA MCBZ 2021 Ascott Residence Trust – units 190 19,800 – 4,644 190 26,000 41,382 4,644 Prof Yaacob Bin Ibrahim Ascendas India Trust – units Ascott Residence Trust – units Singapore Airlines Limited 100,000 26,208 5,000 100,000 26,208 5,000 # Related corporation with effect from 11 November 2021 * Scheme of arrangement by CapitaLand Limited (“CapitaLand”), pursuant to which every 1 CapitaLand Limited share was exchanged for 1 share in CapitaLand Investment Limited, 0.154672686 unit in CapitaLand Integrated Commercial Trust, and S$0.951 in cash. Singapore Power Limited and its subsidiaries Directors’ statement Year ended 31 March 2022 6 Except as disclosed in this statement, no director who held office at the end of the financial year had interests in shares, debentures, warrants or share options of the Company, or of related corporations, either at the beginning of the financial year, or at the end of the financial year. Neither at the end of, nor at any time during the financial year, was the Company a party to any arrangement whose objects are, or one of whose objects is, to enable the directors of the Company to acquire benefits by means of the acquisition of shares or debentures of the Company or any other body corporate. Share Options During the financial year, there were: (i) (ii) no options granted by the Company or its subsidiaries to any person to take up unissued shares in the Company; and no shares issued by virtue of any exercise of option to take up unissued shares of the Company or its subsidiaries. As at the end of the financial year, there were no unissued shares of the Company or its subsidiaries under option. On behalf of the Board of Directors TAN SRI MOHD HASSAN MARICAN Chairman MR STANLEY HUANG TIAN GUAN Director / Group Chief Executive Officer 2 June 2022 Singapore Power Limited and its subsidiaries Independent auditor’s report Year ended 31 March 2022 7 Independent Auditor’s Report to the Member of Singapore Power Limited Opinion Independent Auditor’s Report For the financial year ended 31 March 2022 Report on the Audit of the Financial Statements We have audited the accompanying financial statements of Singapore Power Limited (the “Company”) and its subsidiaries (the “Group”), which comprise the balance sheets of the Group and the Company as at 31 March 2022, the income statements, statements of comprehensive income, statements of changes in equity of the Group and the Company and statement of cash flows of the Group for the financial year then ended, and notes to the financial statements, including a summary of significant accounting policies. In our opinion, the accompanying consolidated financial statements of the Group, the balance sheet, income statement, statement of comprehensive income and statement of changes in equity of the Company are properly drawn up in accordance with the provisions of the Companies Act 1967 (the “Act”) and Singapore Financial Reporting Standards (International) (“SFRS(I)”) so as to give a true and fair view of the financial position of the Group and of the Company as at 31 March 2022 and of the financial performance, changes in equity of the Group and the Company and consolidated cash flows of the Group for the year ended on that date. Basis for Opinion We conducted our audit in accordance with Singapore Standards on Auditing (“SSAs”). Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Group in accordance with the Accounting and Corporate Regulatory Authority (“ACRA”) Code of Professional Conduct and Ethics for Public Accountants and Accounting Entities (“ACRA Code”) together with the ethical requirements that are relevant to our audit of the financial statements in Singapore, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ACRA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Other Information Management is responsible for other information. The other information comprises the directors’ statement. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Singapore Power Limited and its subsidiaries Independent auditor’s report Year ended 31 March 2022 8 Responsibilities of Management and Directors for the Financial Statements Management is responsible for the preparation of financial statements that give a true and fair view in accordance with the provisions of the Act and SFRS(I), and for devising and maintaining a system of internal accounting controls sufficient to provide a reasonable assurance that assets are safeguarded against loss from unauthorised use or disposition; and transactions are properly authorised and that they are recorded as necessary to permit the preparation of true and fair financial statements and to maintain accountability of assets. In preparing the financial statements, management is responsible for assessing the Group’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so. The directors’ responsibilities include overseeing the Group’s financial reporting process. Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SSAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. As part of an audit in accordance with SSAs, we exercise professional judgement and maintain professional scepticism throughout the audit. We also: • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group’s internal control. • Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management. • Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Group to cease to continue as a going concern. Singapore Power Limited and its subsidiaries Independent auditor’s report Year ended 31 March 2022 9 • Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. • Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion. We communicate with the directors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Report on Other Legal and Regulatory Requirements In our opinion, the accounting and other records required by the Act to be kept by the Company and by those subsidiaries incorporated in Singapore of which we are the auditors have been properly kept in accordance with the provisions of the Act. Ernst & Young LLP Public Accountants and Chartered Accountants Singapore 2 June 2022 Singapore Power Limited and its subsidiaries Financial statements Year ended 31 March 2022 10 Balance sheets As at 31 March 2022 Group Company Non-current assets Property, plant and equipment Intangible assets Investment property under development Subsidiaries Associates and joint ventures Other non-current assets Deferred tax assets Derivative assets Investments in debt and equity securities Current assets Inventories Trade and other receivables Derivative assets Cash and cash equivalents Investments in debt and equity securities Total assets Regulatory deferral accounts (“RDA”) debit balances and related deferred tax assets Total assets and RDA debit balances Note 4 6 7 8 9 10 11 12 13 14 15 12 16 13 17 2022 $ million 13,828.7 111.3 765.0 – 1,622.3 343.7 21.7 133.6 56.0 16,882.3 47.4 795.7 113.6 4,207.8 413.9 5,578.4 22,460.7 499.5 22,960.2 2021 $ million 13,693.2 150.9 728.2 – 2,907.2 337.9 100.5 256.2 29.7 18,203.8 46.7 462.2 3.5 1,187.2 – 1,699.6 19,903.4 454.7 20,358.1 2022 $ million 23.4 14.9 – 5,043.7 45.4 – – – # – 5,127.4 – 4,095.2 5.0 1.3 – 4,101.5 9,228.9 – 9,228.9 2021 $ million 16.3 16.2 – 5,524.6 45.4 – – – # – 5,602.5 – 3,070.4 – # 0.8 – 3,071.2 8,673.7 – 8,673.7 Equity Share capital Reserves Accumulated profits Total equity, attributable to owner of the Company 18 19 2,911.9 (97.2) 11,143.9 2,911.9 (424.3) 9,491.4 2,911.9 – # 6,246.6 2,911.9 – 5,712.8 13,958.6 11,979.0 9,158.5 8,624.7 Non-current liabilities Debt obligations Derivative liabilities Deferred tax liabilities Other non-current liabilities Lease liabilities Current liabilities Debt obligations Derivative liabilities Current tax payable Trade and other payables Lease liabilities Total liabilities Total equity and liabilities RDA credit balances and related deferred tax liabilities Total equity, liabilities and RDA credit balances 20 12 11 21 5 20 12 22 5 17 3,377.9 160.5 1,699.7 479.7 32.2 5,750.0 908.2 143.0 645.6 1,484.6 5.8 3,187.2 8,937.2 22,895.8 64.4 22,960.2 4,369.7 101.3 1,748.4 498.8 34.9 6,753.1 173.6 7.6 67.0 1,314.4 5.9 1,568.5 8,321.6 20,300.6 57.5 20,358.1 – – # 1.4 – – 1.4 – 5.1 0.4 57.6 5.9 70.4 9,228.9 – 9,228.9 – – 1.4 – – 1.4 – – 0.6 47.0 – 69.0 47.6 49.0 8,673.7 – 8,673.7 # Amount is less than $0.1 million The accompanying notes form an integral part of these financial statements. Singapore Power Limited and its subsidiaries Financial statements Year ended 31 March 2022 11 Income statements As at 31 March 2022 Group Company Note 2022 $ million 2021 $ million 2022 $ million 2021 $ million Revenue Other income Expenses - Purchased power - Depreciation of property, plant and equipment - Amortisation of intangible assets - Maintenance - Staff costs - Property taxes - Other operating expenses Operating profit Finance income Finance costs Share of profits of associates, net of tax Share of losses of joint ventures, net of tax Profit before taxation Tax (expense) / credit Profit for the year attributable to owner of the Company Net movement in RDA balances related to profit or loss and the related deferred tax movement Profit for the year and net movements in RDA balances, attributable to owner of the Company 23 24 5,213.5 1,683.7 (2,806.7) 3,574.1 188.9 (1,473.1) 1,040.1 11.0 – 754.8 9.5 – 4 (790.3) (757.4) (9.9) (8.3) 6 (55.7) (56.1) (5.6) (3.5) (141.1) (126.4) (10.5) (9.0) (324.7) (319.9) (73.9) (72.7) (93.9) (99.2) (0.3) (0.3) (191.4) (145.3) (37.2) (61.0) 2,493.4 785.6 903.7 609.5 25 26 58.6 (85.0) 164.0 45.3 (79.7) 180.0 19.4 (0.1) – 33.9 (0.1) – (5.7) (6.0) – – 2,625.3 925.2 923.0 643.3 27 28 17 (660.3) 1,965.0 37.9 (197.8) 727.4 249.3 0.8 923.8 – 5.3 648.6 – 2,002.9 976.7 923.8 648.6 The accompanying notes form an integral part of these financial statements. Singapore Power Limited and its subsidiaries Financial statements Year ended 31 March 2022 12 Statements of comprehensive income Year ended 31 March 2022 Group Company 2022 $ million 2021 $ million 2022 $ million 2021 $ million Profit for the year and net movements in RDA balances 2,002.9 976.7 923.8 648.6 Other comprehensive income Items that will not be reclassified to profit or loss: Share of defined benefit plan remeasurements of associates 10.1 10.1 9.3 – – 9.3 – – Items that are or may be reclassified subsequently to profit or loss: Translation differences relating to financial statements of foreign operations (86.7) 446.7 – – Effective portion of changes in fair value of cash flow hedges, net of tax 41.0 31.7 – # (0.2) Net change in fair value of: - Cash flow hedges reclassified to profit or loss, net of tax (5.3) 10.2 – – - Cash flow hedges on recognition of the hedged items on balance sheet, net of tax 0.6 2.1 – # (0.1) Share of hedging reserves of associates Disposal of interest in an associate Other comprehensive income for 211.1 148.9 – – 195.9 – – – 356.6 639.6 – # (0.3) the year, net of tax 366.7 648.9 – # (0.3) Total comprehensive income for the year, attributable to owner of the Company 2,369.6 1,625.6 923.8 648.3 # Amount is less than $0.1 million The accompanying notes form an integral part of these financial statements. Singapore Power Limited and its subsidiaries Financial statements Year ended 31 March 2022 13 Statements of changes in equity Year ended 31 March 2022 Group Share capital $ million Currency translation reserve $ million Hedging reserve $ million Other reserves $ million Accumulated profits $ million Total equity, attributable to owner of the Company $ million At 1 April 2020 Total comprehensive income for the year Profit for the year and net movement in RDA balances Other comprehensive income Translation differences relating to financial statements of foreign operations Effective portion of changes in fair value of cash flow hedges, net of tax Net change in fair value of: - Cash flow hedges reclassified to profit or loss, net of tax - Cash flow hedges on recognition of the hedged items on balance sheet, net of tax Share of other comprehensive income of associates Total other comprehensive income Total comprehensive income for the year 2,911.9 (810.1) (282.7) 19.6 8,920.7 10,759.4 – – – – 976.7 976.7 – 446.7 – – – 446.7 – – 31.7 – – 31.7 – – 10.2 – – 10.2 – – 2.1 – – 2.1 – – 148.9 9.3 – 158.2 – 446.7 192.9 9.3 – 648.9 – 446.7 192.9 9.3 976.7 1,625.6 Transactions with owner, recognised directly in equity Distribution to owner Dividends declared (Note 34) Total transactions with owner At 31 March 2021 – – – – (406.0) (406.0) – – – – (406.0) (406.0) 2,911.9 (363.4) (89.9) 28.9 9,491.4 11,979.0 # Amount is less than $0.1 million The accompanying notes form an integral part of these financial statements. Singapore Power Limited and its subsidiaries Financial statements Year ended 31 March 2022 14 Statements of changes in equity Year ended 31 March 2022 Group Share capital $ million Currency translation reserve $ million Hedging reserve $ million Other reserves $ million Accumulated profits $ million Total equity, attributable to owner of the Company $ million At 1 April 2021 2,911.9 (363.4) (89.8) 28.9 9,491.4 11,979.0 Total comprehensive income for the year Profit for the year and net movement in RDA balances – – – – 2,002.9 2,002.9 Other comprehensive income Translation differences relating to financial statements of foreign operations – (86.7) – – – (86.7) Effective portion of changes in fair value of cash flow hedges, net of tax Net change in fair value of: – – 41.0 – – 41.0 - Cash flow hedges reclassified to profit or loss, net of tax – – (5.3) – – (5.3) - Cash flow hedges on recognition of the hedged items on balance sheet, net of tax – – 0.6 – – 0.6 Share of other comprehensive income of associates – – 211.1 10.1 – 221.2 Disposal of interest in an associate – 231.9 (36.0) (39.6) 39.6 195.9 Total other comprehensive income – 145.2 211.4 (29.5) 39.6 366.7 Total comprehensive income for the year – 145.2 211.4 (29.5) 2,042.5 2,369.6 Transactions with owner, recognised directly in equity Distribution to owner Dividends declared (Note 34) Total transactions with owner – – – – (390.0) (390.0) – – – – (390.0) (390.0) At 31 March 2022 2,911.9 (218.2) 121.6 (0.6) 11,143.9 13,958.6 # Amount is less than $0.1 million The accompanying notes form an integral part of these financial statements. Singapore Power Limited and its subsidiaries Financial statements Year ended 31 March 2022 15 Statements of changes in equity Year ended 31 March 2022 Share capital $ million Hedging reserve $ million Accumulated profits $ million Total $ million Company At 1 April 2020 2,911.9 0.3 5,470.2 8,382.4 Total comprehensive income for the year Profit for the year – – 648.6 648.6 Other comprehensive income Effective portion of changes in fair value of cash flow hedges, net of tax – (0.2) – (0.2) Net change in fair value of: - Cash flow hedges on recognition of the hedged items on balance sheet, net of tax – (0.1) – (0.1) Total other comprehensive income – (0.3) – (0.3) Total other comprehensive income for the year – (0.3) 648.6 648.3 Transactions with owner, recognised directly in equity Dividends declared (Note 34) – – (406.0) (406.0) Total transactions with owner – – (406.0) (406.0) At 31 March 2021 2,911.9 – 5,712.8 8,624.7 At 1 April 2021 2,911.9 – 5,712.8 8,624.7 Total comprehensive income for the year Profit for the year – – 923.8 923.8 Other comprehensive income Effective portion of changes in fair value of cash flow hedges, net of tax – – # – – # Net change in fair value of: - Cash flow hedges on recognition of the hedged items on balance sheet, net of tax – – # – – # Total other comprehensive income – – # – – # Total other comprehensive income for the year – – # 923.8 923.8 Transactions with owner, recognised directly in equity Dividends declared (Note 34) – – (390.0) (390.0) Total transactions with owner – – (390.0) (390.0) At 31 March 2022 2,911.9 – # 6,246.6 9,158.5 # Amount is less than $0.1 million The accompanying notes form an integral part of these financial statements. Singapore Power Limited and its subsidiaries Financial statements Year ended 31 March 2022 16 Consolidated statement of cash flows Year ended 31 March 2022 Note 2022 $ million 2021 $ million Cash flows from operating activities Profit for the year and net movements in RDA balances 2,002.9 976.7 Adjustments for: Deferred income (20.0) (23.9) RDA debit or credit balances and related deferred tax assets or liabilities (37.9) (249.3) Depreciation and amortisation 846.0 813.5 Finance costs 26 90.3 83.5 Finance income 25 (58.6) (45.3) Exchange loss / (gain), net 28 0.9 (14.7) Loss on disposal of property, plant and equipment and intangible assets 11.7 1.2 Impairment loss on intangible assets and property, plant and equipment 2.4 5.0 Gain on disposal of interest in an associate 24 (1,532.0) – Share of profit of associates and joint ventures, net of tax (158.3) (174.0) Tax expense 27 660.3 197.8 Write-down of inventory 14 8.4 5.3 Allowance for expected credit loss on trade receivables, net 15a 14.7 13.9 Net fair value gain on equity investments at FVTPL 26 (5.3) (3.8) Others 5.0 3.4 1,830.5 1,589.3 Changes in working capital: Inventories (9.1) (2.6) Trade and other receivables and contract assets (304.5) 4.3 Balances with related parties (trade) 6.1 10.6 Trade and other payables 214.9 (10.4) Cash generated from operations 1,737.9 1,591.2 Interest received 34.3 64.7 Net tax paid (30.0) (63.4) Net cash generated from operating activities 1,742.2 1,592.5 The accompanying notes form an integral part of these financial statements. Singapore Power Limited and its subsidiaries Financial statements Year ended 31 March 2022 17 Consolidated statement of cash flows (continued) Year ended 31 March 2022 Note 2022 $ million 2021 $ million Cash flows from investing activities Purchase of property, plant and equipment (1,006.2) (986.4) Purchase of intangible assets (18.1) (40.7) Proceeds from disposal of property, plant and equipment and intangible assets 6.3 5.5 Proceeds from disposal of interest in an associate 3,154.1 – Dividends received from associates and joint venture 153.8 146.9 Proceeds from redemption of other investment – 5.0 Acquisition of interest in associates and joint venture (24.4) (42.7) Loans to a joint venture (46.4) – Payments for investments in debt securities (413.4) – Acquisition of other investments (21.3) (14.4) Additions to investment property (36.9) (6.6) Net cash generated from / (used in) investing activities 1,747.5 (933.4) Cash flows from financing activities Proceeds from loans 83.2 156.0 Proceeds from termination of derivatives 19.5 – Repayment of debt obligations (176.5) (797.1) Dividends paid to owner of the Company (390.0) (406.0) Interest paid (81.8) (108.9) Commitment fees paid – (1.5) Upfront fees paid for credit facilities (2.6) – Payment of principal portion of lease liabilities (6.2) (5.9) Net cash used in financing activities (554.4) (1,163.4) Net increase / (decrease) in cash and cash equivalents 2,935.3 (504.3) Cash and cash equivalents at beginning of the year 1,187.2 1,673.4 Effect of exchange rate changes on balances held in foreign currencies 85.3 18.1 Cash and cash equivalents at end of the year 16 4,207.8 1,187.2 The accompanying notes form an integral part of these financial statements. Singapore Power Limited and its subsidiaries Financial statements Year ended 31 March 2022 18 Notes to the financial statements These notes form an integral part of the financial statements. The financial statements were authorised for issue by the Board of Directors on 2 June 2022. 1 Domicile and activities Singapore Power Limited (the “Company”) is incorporated in the Republic of Singapore and has its registered office at 2 Kallang Sector, SP Group Building, Singapore 349277. The immediate and ultimate holding company is Temasek Holdings (Private) Limited, a company incorporated in the Republic of Singapore. The principal activities of the Company are that of investment holding and provision of management support services. Its subsidiaries are engaged principally in the transmission and distribution of electricity and gas, provision of related consultancy services and investments in related projects. The consolidated financial statements relate to the Company and its subsidiaries (together referred to as the “Group”) and the Group’s interests in associates and joint ventures (collectively referred to as “Group entities”). 2 Basis of preparation 2.1 Statement of compliance The financial statements have been prepared in accordance with the Singapore Financial Reporting Standards (International) (“SFRS(I)”). 2.2 2.3 Basis of measurement The financial statements have been prepared on the historical cost basis except as disclosed in the accounting policies set out below. Functional and presentation currency These financial statements are presented in Singapore dollars, which is the Company’s functional currency. Each entity in the Group determines its own functional currency and items included in the financial statements of each entity are measured using that functional currency. All financial information presented in Singapore dollars has been rounded to the nearest 0.1 million, unless otherwise stated. Singapore Power Limited and its subsidiaries Financial statements Year ended 31 March 2022 19 2.4 Use of estimates and judgements The preparation of financial statements in conformity with SFRS(I) requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making judgements about carrying amounts of assets and liabilities that are not readily apparent from other sources. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised and in any future periods affected. Information about critical judgements in applying accounting policies that have the most significant effect on the amounts recognised in the financial statements is discussed below: Taxation The Group is subject to taxes mainly in Singapore and Australia. Significant judgement is required in determining provision for taxes. There are many transactions and calculations during the ordinary course of business for which the ultimate tax determination is uncertain. The Group recognises liabilities for anticipated tax audit issues based on estimates of whether additional taxes will be due. Where the final tax outcome of these matters is different from the amounts that were initially recorded, such differences will impact the income tax and deferred tax provisions in the period in which such determination is made. Details are set out in Note 11 and Note 27. Impairment of associates Impairment reviews in respect of associates are performed at least annually or when there is any indication that the investment in associates may be impaired. More regular reviews are performed if changes in circumstances or the occurrence of events indicate potential impairment. The Group uses the present value of future cash flows to determine the recoverable amounts of the underlying cash generating units in the associates. In calculating the recoverable amounts, significant management judgement is required in forecasting cash flows of the cash generating units, in estimating the terminal growth values and in selecting an appropriate discount rate. Estimating fair values of financial assets and financial liabilities The fair value of financial assets and financial liabilities must be estimated for recognition, measurement and disclosure purposes. Note 31 sets out the basis of valuation of financial assets and liabilities. Accrued revenue Revenue accrual estimates are made to account for the unbilled period between the end-user’s last billing date and the end of the accounting period. The accrual relies on detailed analysis of customers’ historical consumption patterns, which takes into account base usage and sensitivity to consumption growth. The results of this analysis are applied for the number of days over the unbilled period. Singapore Power Limited and its subsidiaries Financial statements Year ended 31 March 2022 20 Regulatory deferral accounts Regulatory deferral account debit or credit balances represent timing differences between revenue recognised for financial reporting purposes (as set out in Note 3.18) and revenue earned for regulatory purposes. Revenue earned for regulatory purposes is estimated based on the revenue allowed by the Energy Market Authority (“EMA”) (in accordance with the price regulation framework), taking into consideration the services rendered, sale and volume of electricity and gas delivered to consumers. Note 3.16 sets out the accounting policy for regulatory deferral accounts. 2.5 Changes in accounting policies Adoption of new and revised SFRS(I)s and Interpretation to SFRS(I) The Group has applied the Amendments to SFRS(I) 9, SFRS(I) 1-39, SFRS(I) 7, SFRS(I) 4, SFRS(I) 16: Interest Rate Benchmark Reform – Phase 2 which is effective for annual financial periods beginning on or after 1 April 2021. The Phase 2 amendments provide practical relief from certain requirements in SFRS(I) Standards. The amendment most relevant to the Group is where it provides for a series of temporary exceptions from certain hedge accounting requirements when a change required by the interest rate benchmark reform occurs to a hedge item and / or hedging instrument that permit the hedge relationship to be continued without interruption. The Group applies the following reliefs as and when uncertainty arising the from interest rate benchmark reform is no longer present with respect to the timing and the amount of the interest rate benchmark-based cash flows of the hedged item or hedging instrument: • the Group amends the designation of a hedging relationship to reflect changes that are required by the reform without discontinuing the hedging relationship; and • when a hedged item in a cash flow hedge is amended to reflect the changes that are required by the reform, the amount accumulated in the hedging reserve is deemed to be based on the alternative benchmark rate on which the hedged future cash flows are determined. The details of the accounting policies and related disclosures on financial risk management are disclosed in Note 3.6 and 31. There was no significant financial impact to the Group as a result of these amendments. Singapore Power Limited and its subsidiaries Financial statements Year ended 31 March 2022 21 3 Significant accounting policy The accounting policies set out below have been applied consistently for all periods presented in these financial statements, and have been consistently applied by the Group entities, which addresses changes in accounting policies due to the adoption of new and revised standards. 3.1 Basis of consolidation Business combinations Business combinations are accounted for using the acquisition method as at the acquisition date, which is the date on which control is transferred to the Group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. In assessing control, the Group takes into consideration potential voting rights that are currently exercisable. The consideration transferred does not include amounts related to the settlement of pre-existing relationships. Such amounts are generally recognised in profit or loss. Costs related to the acquisition, other than those associated with the issue of debt or equity securities, that the Group incurs in connection with a business combination are expensed as incurred. Any contingent consideration payable is recognised at fair value at the acquisition date and included in the consideration transferred. If the contingent consideration is classified as equity, it is not remeasured and settlement is accounted for within equity. Otherwise, subsequent changes to the fair value of the contingent consideration are recognised in profit or loss. For non-controlling interests that are present ownership interests and entitle their holders to a proportionate share of the acquiree’s net assets in the event of liquidation, the Group elects on a transaction-by-transaction basis whether to measure them at fair value, or at the non-controlling interests’ proportionate share of the recognised amounts of the acquiree’s identifiable net assets, at the acquisition date. All other non-controlling interests are measured at acquisition-date fair value, or, when applicable, on the basis specified in another standard. Any excess or deficiency of the purchase consideration over the fair value of the identifiable assets acquired and liabilities and contingent liabilities assumed is accounted for as goodwill or bargain purchase gain (see Note 3.4). Subsidiaries Subsidiaries are entities controlled by the Group. The Group controls an investee when it is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. The financial statements of subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases. In the Company’s separate financial statements, investments in subsidiaries are accounted for at cost less impairment losses. The accounting policies of subsidiaries have been changed when necessary to align them with the policies adopted by the Group. Losses applicable to the non-controlling interests in a subsidiary are allocated to the non-controlling interests even if doing so causes the non-controlling interests to have a deficit balance. Singapore Power Limited and its subsidiaries Financial statements Year ended 31 March 2022 22 Loss of control Upon the loss of control, the Group de-recognises the assets and liabilities of the subsidiary, any non-controlling interests and the other components of equity related to the subsidiary. Any surplus or deficit arising on the loss of control is recognised in profit or loss. If the Group retains any interest in the previous subsidiary, then such interest is measured at fair value at the date that control is lost. Subsequently, it is accounted for as an equity-accounted investee or as an equity investment at fair value through other comprehensive income depending on the level of influence retained. Joint arrangements A joint arrangement is a contractual arrangement whereby two or more parties have joint control. Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. To the extent the joint arrangement provides the Group with rights to the assets and obligations for the liabilities relating to the arrangement, the arrangement is a joint operation. To the extent the joint arrangement provides the Group with rights to the net assets of the arrangement, the arrangement is a joint venture. The Group recognises its interest in a joint venture as an investment and accounts for the investment using the equity method. The accounting policy for investment in joint venture is set out below. Investments in associates and joint ventures (equity-accounted investees) An associate is an entity over which the Group has the power to participate in the financial and operating policy decisions of the investee but does not have control or joint control of those policies. Investments in associates and joint ventures are accounted for using the equity method (equity-accounted investees) and are recognised initially at cost. The Group’s investments in equity-accounted investees include goodwill identified on acquisition, net of any accumulated impairment losses. The consolidated financial statements include the Group’s share of the profit or loss and other comprehensive income of the equity-accounted investees, after adjustments to align the accounting policies of the equity-accounted investees with those of the Group, from the date that significant influence or joint control commences until the date that significant influence or joint control ceases. When the Group’s share of losses exceeds its interest in an equity-accounted investee, the carrying amount of the investment, together with any long-term interests that form part thereof, is reduced to zero and the recognition of further losses is discontinued except to the extent that the Group has an obligation to fund the investee’s operations or has made payments on behalf of the investee. Singapore Power Limited and its subsidiaries Financial statements Year ended 31 March 2022 23 Acquisition of non-controlling interests Acquisitions of non-controlling interests are accounted for as transactions with owners in their capacity as owners and therefore no goodwill is recognised as a result of such transactions. The adjustments to non-controlling interests arising from transactions that do not involve the loss of control are based on a proportionate amount of the net assets of the subsidiary. Any difference between the adjustment to non-controlling interests and the fair value of consideration paid is recognised directly in equity and presented as part of equity attributable to owners of the Company. Transactions eliminated on consolidation Intra-group balances and transactions, and any unrealised income or expenses arising from intra-group transactions, are eliminated in preparing the consolidated financial statements. Unrealised gains arising from transactions with equity-accounted investees are eliminated against the investment to the extent of the Group’s interest in the investee. Unrealised losses are eliminated in the same way as unrealised gains, but only to the extent that there is no evidence of impairment. Accounting for subsidiaries and joint ventures by the Company Investments in subsidiaries and joint ventures are stated in the Company’s balance sheet at cost less accumulated impairment losses. 3.2 Foreign currencies Foreign currency transactions Transactions in foreign currencies are translated to the respective functional currencies of Group entities at the exchange rates at the dates of the transactions. The functional currencies of the Group entities are mainly Singapore dollars, Australian dollars and Chinese Yuan Renminbi. Monetary assets and liabilities denominated in foreign currencies at the reporting date are retranslated to the functional currencies at the exchange rate at the reporting date. The foreign currency gain or loss on monetary items is the difference between amortised cost in the functional currency at the beginning of the year, adjusted for effective interest and payments during the year, and the amortised cost in foreign currency translated at the exchange rate at the end of the year. Non-monetary assets and liabilities denominated in foreign currencies that are measured at fair value are retranslated to the functional currency at the exchange rate prevailing on the date on which the fair value was determined. Non-monetary items in a foreign currency that are measured in terms of historical cost are translated using the exchange rate at the date of the transaction. Foreign currency differences arising on translation are recognised in profit or loss, except for differences arising on the translation of a financial liability designated as a hedge of the net investment in a foreign operation that is effective, an equity investment at fair value through other comprehensive income, or qualifying cash flow hedges which are recognised in other comprehensive income. Foreign operations The assets and liabilities of foreign operations, excluding goodwill and fair value adjustments arising on acquisition, are translated to Singapore dollars for presentation in these financial statements at exchange rates at the reporting date. The income and expenses of foreign operations are translated to Singapore dollars at exchange rates at the dates of the transactions. Singapore Power Limited and its subsidiaries Financial statements Year ended 31 March 2022 24 Foreign currency differences are recognised in other comprehensive income, and presented in the foreign currency translation reserve (“translation reserve”) in equity. However, if the foreign operation is a non-wholly-owned subsidiary, then the relevant proportionate share of the translation difference is allocated to the non-controlling interests. When a foreign operation is disposed of, such that control, significant influence or joint control is lost, the cumulative amount in the translation reserve related to that foreign operation is reclassified to profit or loss as part of the gain or loss on disposal. When the Group disposes of only part of its interest in a subsidiary that includes a foreign operation while retaining control, the relevant proportion of the cumulative amount is reattributed to non-controlling interests. When the Group disposes of only part of its investment in an associate or joint venture that includes a foreign operation while retaining significant influence or joint control, the relevant proportion of the cumulative amount is reclassified to profit or loss. When the settlement of a monetary item receivable from or payable to a foreign operation is neither planned nor likely in the foreseeable future, foreign exchange gains and losses arising from such a monetary item are considered to form part of a net investment in a foreign operation. These are recognised in other comprehensive income, and are presented in the translation reserve in equity. 3.3 Property, plant and equipment Recognition and measurement Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes expenditure that is directly attributable to the acquisition of the asset. The cost of self-constructed assets includes the cost of materials and direct labour, any other costs directly attributable to bringing the asset to a working condition for their intended use, and the costs of dismantling and removing the items and restoring the site on which they are located and capitalised borrowing cost. Capitalisation of borrowing costs will cease when the asset is ready for its intended use. Cost may also include transfers from equity of any gain or loss on qualifying cash flow hedges of foreign currency purchases of property, plant and equipment. Purchased software that is integral to the functionality of the related equipment is capitalised as part of that equipment. When parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items (major components) of property, plant and equipment. The gain or loss on disposal of an item of property, plant and equipment is determined by comparing the proceeds from disposal with the carrying amount of property, plant and equipment, and is recognised net within other income/other operating expenses in profit or loss. Subsequent costs The cost of replacing a component of an item of property, plant and equipment is recognised in the carrying amount of the item if it is probable that the future economic benefits embodied within the component will flow to the Group, and its cost can be measured reliably. The carrying amount of the replaced component is de-recognised. The costs of the day-to-day servicing of property, plant and equipment are recognised in profit or loss as incurred. Singapore Power Limited and its subsidiaries Financial statements Year ended 31 March 2022 25 Depreciation Depreciation is based on the cost of an asset less its residual value. Significant components of individual assets are assessed and if a component has a useful life that is different from the remainder of that asset, that component is depreciated separately. Depreciation is recognised in profit or loss on a straight-line basis over the estimated useful lives of each component of an item of property, plant and equipment. Freehold land and construction-in-progress are not depreciated. The estimated useful lives for the current and comparative periods are as follows: Leasehold land Buildings, office and tunnels Plant and machinery - Mains (Electricity) - Mains (Gas) - Transformers and switchgear Other plant and equipment (principally gas storage plant, remote control and meters) Motor vehicles and office equipment Over the term of the lease, ranging from 3 – 99 years 2 – 40 years or the lease term, if shorter 10 – 30 years 5 – 50 years or the lease term, if shorter 20 – 30 years 2 – 40 years 2 – 10 years Depreciation methods, useful lives and residual values are reviewed at each financial year end, and adjusted if appropriate. 3.4 Intangible assets Goodwill Goodwill that arises upon the acquisition of subsidiaries is included in intangible assets and represents the excess of: - the fair value of the consideration transferred; plus - the recognised amount of any non-controlling interests in the acquiree; plus - if the business combination is achieved in stages, the fair value of the pre-existing equity interest in the acquiree, over the net recognised amount (generally fair value) of the identifiable assets acquired and liabilities assumed. When the excess is negative, a bargain purchase gain is recognised immediately in profit or loss. Subsequent measurement Goodwill is measured at cost less accumulated impairment losses. In respect of equity-accounted investees, the carrying amount of goodwill is included in the carrying amount of the investment, and an impairment loss on such an investment is not allocated to any asset, including goodwill, that forms part of the carrying amount of the equity-accounted investee. Singapore Power Limited and its subsidiaries Financial statements Year ended 31 March 2022 26 Other intangible assets Other intangible assets with finite useful lives are measured at cost less accumulated amortisation and accumulated impairment losses. Expenditure on internally generated goodwill is recognised in profit or loss as an expense when incurred. Intangible assets that have indefinite lives or that are not available for use are stated at cost less accumulated impairment losses. Software is stated at cost less accumulated amortisation and accumulated impairment losses. Amortisation is recognised in profit or loss on a straight-line basis over the estimated useful life of 2 to 5 years. Deferred expenditure relates mainly to contributions paid by the Group in accordance with regulatory requirements towards capital expenditure costs incurred by electricity generation companies and onshore receiving facility operator, and is stated at cost less accumulated amortisation and accumulated impairment losses. Deferred expenditure is amortised on a straight-line basis over the period in which the Group derives benefits from the capital contribution payments, which is generally the useful life of the relevant equipment ranging from 7 to 19 years. Research costs are expensed as incurred. Capitalised development costs arising from development expenditures on an individual project are recognised as an intangible asset when the Group can demonstrate the technical feasibility of completing the intangible asset so that it will be available for use or sale, its intention to complete and its ability to use or sell the asset, how the asset will generate future economic benefits, the availability of resources to complete and the ability to measure reliably the expenditures during the development. Following initial recognition of the capitalised development costs as an intangible asset, it is carried at cost less accumulated amortisation and any accumulated impairment losses. Amortisation of the intangible asset begins when development is complete and the asset is available for use. Capitalised development costs have a finite useful life and are amortised over the period of 5 years on a straight line basis. Intangible assets under construction are stated at cost. No amortisation is provided until the intangible assets are ready for use. 3.5 Investment property under development Investment property under development is property held either to earn rental income or for capital appreciation or for both, but not for sale in the ordinary course of business, use in the production or supply of goods or services or for administrative purposes. Investment property under development is measured at cost on initial recognition. Cost includes expenditure that is directly attributable to the acquisition of the investment property. The cost of self-constructed investment property includes the cost of materials and direct labour, any other costs directly attributable to bringing the investment property under development to a working condition for their intended use and capitalised borrowing costs. Any gain or loss on disposal of an investment property under development (calculated as the difference between the net proceeds from disposal and the carrying amount of the item) is recognised in profit or loss. When the use of a property changes such that it is reclassified as property, plant and equipment, its fair value at the date of reclassification becomes its cost for subsequent accounting. Property that is being constructed for future use as investment property under development is accounted for at cost less accumulated depreciation and accumulated impairment losses. Investment property under development is not depreciated. Singapore Power Limited and its subsidiaries Financial statements Year ended 31 March 2022 27 3.6 Financial instruments Non-derivative financial assets Initial recognition and measurement Financial assets are recognised when, and only when the entity becomes party to the contractual provisions of the instruments. At initial recognition, the Group measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at fair value through profit or loss are expensed in profit or loss. Trade receivables are measured at the amount of consideration to which the Group expects to be entitled in exchange for transferring promised goods or services to a customer, excluding amounts collected on behalf of third party, if the trade receivables do not contain a significant financing component at initial recognition. Subsequent measurement Investments in debt instruments Subsequent measurement of debt instruments depends on the Group’s business model for managing the asset and the contractual cash flow characteristics of the asset. The measurement categories for classification of debt instruments are: (i) (ii) (iii) Amortised cost Financial assets that are held for the collection of contractual cash flows where those cash flows represent solely payments of principal and interest are measured at amortised cost. Financial assets are measured at amortised cost using the effective interest method, less impairment. Gains and losses are recognised in profit or loss when the assets are de-recognised or impaired, and through the amortisation process. Fair value through other comprehensive income (“FVOCI”) Financial assets that are held for collection of contractual cash flows and for selling the financial assets, where the assets’ cash flows represent solely payments of principal and interest, are measured at FVOCI. Financial assets measured at FVOCI are subsequently measured at fair value. Any gains or losses from changes in fair value of the financial assets are recognised in other comprehensive income, except for impairment losses, foreign exchange gains and losses and interest calculated using the effective interest method are recognised in profit or loss. The cumulative gain or loss previously recognised in other comprehensive income is reclassified from equity to profit or loss as a reclassification adjustment when the financial asset is de-recognised. Fair value through profit or loss Assets that do not meet the criteria for amortised cost or FVOCI are measured at fair value through profit or loss. A gain or loss on a debt instrument that is subsequently measured at fair value through profit or loss and is not part of a hedging relationship is recognised in profit or loss in the period in which it arises. Singapore Power Limited and its subsidiaries Financial statements Year ended 31 March 2022 28 Investments in equity instruments On initial recognition of an investment in equity instrument that is not held for trading, the Group may irrevocably elect to present subsequent changes in fair value in OCI. Dividends from such investments are to be recognised in profit or loss when the Group’s right to receive payments is established. For investments in equity instruments which the Group has not elected to present subsequent changes in fair value in OCI, changes in fair value are recognised in profit or loss. De-recognition The Group de-recognises a financial asset when the contractual rights to the cash flows from the financial asset expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all of the risks and rewards of ownership of the financial asset are transferred or in which the Group neither transfers nor retains substantially all of the risks and rewards of ownership and it does not retain control of the financial asset. Cash and cash equivalents Cash and cash equivalents comprise cash balances and bank deposits. Non-derivative financial liabilities Initial recognition and measurement Financial liabilities are recognised when, and only when, the Group becomes a party to the contractual provisions of the financial instrument. The Group determines the classification of its financial liabilities at initial recognition. All financial liabilities are recognised initially at fair value plus in the case of financial liabilities not at fair value through profit or loss, directly attributable transaction costs. For financial liabilities at fair value through profit or loss, directly attributable transaction costs are recognised in profit or loss incurred. Subsequent measurement After initial recognition, financial liabilities that are not carried at fair value through profit or loss are subsequently measured at amortised cost using the effective interest method. Gains and losses are recognised in profit or loss when the liabilities are de-recognised, and through the amortisation process. Financial liabilities at fair value through profit or loss are measured at fair value and net gains and losses, including any interest expense, are recognised in profit or loss. Singapore Power Limited and its subsidiaries Financial statements Year ended 31 March 2022 29 De-recognition A financial liability is de-recognised when the obligation under the liability is discharged or cancelled or expires. On de-recognition, the difference between the carrying amounts and the consideration paid is recognised in profit or loss. Offsetting Financial assets and liabilities are offset and the net amount presented on the balance sheets when, and only when, the Group has a legal right to offset the amounts and intends either to settle on a net basis or to realise the asset and settle the liability simultaneously. The rights of offset must not be contingent on a future event and must be enforceable in the event of bankruptcy or insolvency of all the counterparties to the contract. Ordinary shares Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of ordinary shares are recognised as a deduction from equity, net of any tax effects. Derivative financial instruments and hedge accounting The Group holds derivative financial instruments to hedge its foreign currency and interest rate risk exposures. Embedded derivatives are separated from the host contract and accounted for separately if the host contract is not a financial asset and certain criteria are met. Derivatives are initially measured at fair value and any directly attributable transaction costs are recognised in profit or loss as incurred. Subsequent to initial recognition, derivatives are measured at fair value, and changes therein are generally recognised in profit or loss. The Group designates certain derivatives and non-derivative financial instruments as hedging instruments in qualifying hedging relationships. At inception of designated hedging relationships, the Group documents the risk management objective and strategy for undertaking the hedge. The Group also documents the economic relationship between the hedged item and the hedging instrument, including whether the changes in cash flows of the hedged item and hedging instrument are expected to offset each other. The Group applies hedge accounting for certain hedging relationships which qualify for hedge accounting. For the purpose of hedge accounting, hedges are classified as: • cash flow hedges when hedging exposure to variability in cash flows that is either attributable to a particular risk associated with a recognised asset or liability or a highly probable forecast transaction or the foreign currency risk in an unrecognised firm commitment; or • fair value hedges when hedging the exposure to changes in fair value of a recognised asset or liability or an unrecognised firm commitment. Singapore Power Limited and its subsidiaries Financial statements Year ended 31 March 2022 30 Cash flow hedges When a derivative is designated as the hedging instrument in a hedge of the variability in cash flows attributable to a particular risk associated with a recognised asset or liability or a highly probable forecast transaction that could affect profit or loss, the effective portion of changes in the fair value of the derivative is recognised in other comprehensive income and presented in the hedging reserve in equity. Any ineffective portion of changes in the fair value of the derivative is recognised immediately in profit or loss. When the hedged item is a non-financial asset, the amount accumulated in equity is included in the carrying amount of the asset when the asset is recognised. In other cases, the amount accumulated in equity is reclassified to profit and loss in the same period that the hedged item affects profit or loss. If the hedging instrument no longer meets the criteria for hedge accounting, expires or is sold, terminated or exercised, or the designation is revoked, then hedge accounting is discontinued prospectively. When a cash flow hedge is discontinued, the cumulative gain or loss previously recognised in other comprehensive income will remain in the cash flow hedge reserve until the future cash flows occur if the hedged future cash flows are still expected to occur or reclassified to profit or loss immediately if the hedged future cash flows are no longer expected to occur. Fair value hedges Changes in the fair value of a derivative hedging instrument designated as a fair value hedge are recognised in profit or loss. The hedged item is adjusted to reflect changes in its fair value in respect of the risk being hedged; the gain or loss attributable to the hedged risk is recognised in profit or loss with an adjustment to the carrying amount of the hedged item. Hedges directly affected by interest rate benchmark reform Phase 1 amendments: Prior to interest rate benchmark reform – when there is uncertainty arising from interest rate benchmark reform For the purpose of evaluating whether there is an economic relationship between the hedged item(s) and the hedging instrument(s), the Group assumes that the benchmark interest rate is not altered as a result of interest rate benchmark reform. For a cash flow hedge of a forecast transaction, the Group assumes that the benchmark interest rate will not be altered as a result of interest rate benchmark reform for the purpose of assessing whether the forecast transaction is highly probable and presents an exposure to variations in cash flows that could ultimately affect profit or loss. In determining whether a previously designated forecast transaction in a discontinued cash flow hedge is still expected to occur, the Group assumes that the interest rate benchmark cash flows designated as a hedge will not be altered as a result of interest rate benchmark reform. The Group will cease to apply the specific policy for assessing the economic relationship between the hedged item and the hedging instrument (i) to a hedged item or hedging instrument when the uncertainty arising from interest rate benchmark reform is no longer present with respect to the timing and the amount of the contractual cash flow of the respective item or instrument or (ii) when the hedging relationship is discontinued. Singapore Power Limited and its subsidiaries Financial statements Year ended 31 March 2022 31 For its highly probable assessment of the hedged item, the Group will no longer apply the specific policy when the uncertainty arising from interest rate benchmark reform about the timing and the amount of the interest rate benchmark-based future cash flows of the hedged item is no longer present, or when the hedging relationship is discontinued. Phase 2 amendments: Replacement of interest rates – when there is no longer uncertainty arising from interest rate benchmark reform When the basis for determining the contractual cash flows of the hedged item or the hedging instrument changes as a result of interest rate benchmark reform and therefore there is no longer uncertainty arising about the cash flows of the hedged item or the hedging instrument, the Group amends the hedged documentation of that hedging relationship to reflect the change(s) required by interest rate benchmark reform. A change in the basis for determining the contractual cash flows is required by interest rate benchmark reform if the following conditions are met: • the change is necessary as a direct consequence of the reform; and • the new basis for determining the contractual cash flow is economically equivalent to the previous basis – i.e. the basis immediately before the change. For this purpose, the hedge designation is amended only to make one or more of the following changes: • designating an alternative benchmark rate as the hedged risk; • updating the description of hedged item, including the description of the designated portion of the cash flows or fair value being hedged; or • updating the description of the hedging instrument. The Group amends the description of the hedging instrument only if the following conditions are met: • it makes a change required by interest rate benchmark reform by changing the basis for determining the contractual cash flows of the hedging instrument or using another approach that is economically equivalent to changing the basis for determining the contractual cash flows of the original hedging instrument; and • the original hedging instrument is not derecognised. The Group amends the formal hedge documentation by the end of the reporting period during which a change required by interest rate benchmark reform is made to the hedged risk, hedged item or hedging instrument. These amendments in the formal hedge documentation do not constitute the discontinuation of the hedging relationship or the designation of a new hedging relationship. If changes are made in addition to those changes required by interest rate benchmark reform described above, then the Group first considers whether those additional changes result in the discontinuation of the hedge accounting relationship. If the additional changes do not result in discontinuation of the hedge accounting relationship, then the Group amends the formal hedge documentation for changes required by interest rate benchmark reform as mentioned above. When the interest rate benchmark on which the hedged future cash flows had been based is changed as required by interest rate benchmark reform, for the purpose of determining whether the hedged future cash flows are expected to occur, the Group deems that the hedging reserve recognised in OCI for the hedging relationship is based on the alternative benchmark rate on which the hedged future cash flows will be based. Singapore Power Limited and its subsidiaries Financial statements Year ended 31 March 2022 32 Intra-group financial guarantees in the separate financial statements Financial guarantees are financial instruments issued by the Group that require the issuer to make specified payments to reimburse the holder for the loss it incurs because a specified debtor fails to meet payment when due in accordance with the original or modified terms of a debt instrument. Financial guarantees issued are initially measured at fair value and the initial fair value is amortised over the life of the guarantees. Subsequent to initial measurement, the financial guarantees are measured at the higher of the amortised amount and the amount of loss allowance. Expected credit losses are a probability-weighted estimate of credit losses. Expected credit losses are measured for financial guarantees issued as the expected payments to reimburse the holder less any amounts that the Group expects to recover. 3.7 Impairment Non-derivative financial assets The Group recognises an allowance for expected credit losses (“ECLs”) for all debt instruments not held at fair value through profit or loss and financial guarantee contracts. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Group expects to receive, discounted at an approximation of the original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms. ECLs are recognised in two stages. For credit exposures for which there has not been a significant increase in credit risk since initial recognition, ECLs are provided for credit losses that result from default events that are possible within the next 12-months (a 12-month ECL). For those credit exposures for which there has been a significant increase in credit risk since initial recognition, a loss allowance is recognised for credit losses expected over the remaining life of the exposure, irrespective of timing of the default (a lifetime ECL). For trade receivables and contract assets, the Group applies a simplified approach in calculating ECLs. Therefore, the group does not track changes in credit risk, but instead recognises a loss allowance based on lifetime ECLs at each reporting date. The Group has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment. For debt instruments at fair value through OCI, the Group applies the low credit risk simplification. At every reporting date, the Group evaluates whether the debt instrument is considered to have low credit risk using all reasonable and supportable information that is available without undue cost or effort. The Group considers a financial asset potentially in default when contractual payments

News Release SP GROUP AWARDED BCA GRANT TO POWER NEXT-GEN GREEN BUILDINGS NUS’ UTown to pilot SP’s digital energy solutions at selected buildings Singapore, 16 June 2021 –The Building and Construction Authority (BCA) has awarded a grant to SP Group (SP) under the Green Buildings Innovation Cluster (GBIC) Programme, to develop and implement technologies and digital solutions to push the limits of buildings’ energy efficiency standards. The GBIC programme is one of the enablers of the Singapore Green Building Masterplan, which in turn supports the Singapore Green Plan 2030. Equipping building operators with smart tools to be energy-efficient 2 Under GBIC funding, SP Group will pilot a dynamic online digital portal and an artificial intelligence (A.I.) powered mobile application tool to provide real-time electricity and water usage insights to both occupants and building facilities managers. Through the portal, users can keep track of the building’s aggregated water and electricity consumption, and the resulting carbon emissions to enable them to proactively identify ways to reduce their carbon footprint and utilities usage. The portal will come with advanced data analytics to assist building operators to plan and achieve more efficient building management by providing actionable recommendations on saving energy and an A.I. enabled anomaly detection function to prevent energy wastage. Empowering building occupants to make sustainable choices 3 Building occupants will also be equipped with an “At Work” function of the SP Utilities App to encourage them to achieve a more sustainable lifestyle. The new function aims to enhance the occupant’s sustainability experience by providing them personalised energy data to build awareness and better understand their building’s consumption performance. Occupants will also be encouraged to adopt green behaviour through 1 gamification such as quizzes and energy saving challenges between occupants, reminders, rewards and tips on saving energy. Pilot of digital solutions with NUS 4 The National University of Singapore’s (NUS) University Town (UTown) will be the first development to have these digital solutions implemented under this programme. The solutions will be piloted at two buildings at UTown – the Education Resource Centre and the Stephen Riady Centre – and will be installed in the first half of 2022. Both buildings contain various categories of spatial use such as offices, teaching rooms, sports facilities and commercial tenants. This will allow SP and BCA to test the solutions on a variety of areas. Sharing of Building Energy Data in SLEB Smart Hub 5 SP will work together with BCA to incorporate Green Mark data reporting functions into the digital solutions to facilitate the sharing of information between buildings and BCA’s SLEB Smart Hub 1 . The SLEB Smart Hub will serve as an interface to receive, combine and analyse data from different resources and report them to the BCA Green Mark certification system. This enables benchmarking of the building’s energy performance against other similar building types, and piloting of green technologies including automatic energy data reporting for data analytics 2 . 6 Group Chief Executive Officer of SP, Mr Stanley Huang, said, “Decarbonisation is a collective effort and we are at the forefront of enabling this paradigm shift through our strengths in integrated smart energy solutions. Leveraging digitisation and big data analyses, we can enable all building stakeholders to drive positive change at scale. With the support of BCA and building operators, we will develop user-centric solutions to 1 Super Low Energy Building (SLEB Smart Hub) is Singapore’s first digital knowledge centre for green buildings in the region, feature-filled with smart analytic tools, datasets, a directory and the largest green building database in Singapore. 2 Building owners are required to report their energy data to BCA for green building projects funded under the Green Buildings Innovation Cluster (GBIC) programme. 2 advance next-gen green, energy-efficient buildings, and create green communities that will accelerate a carbon neutral future for Singapore.” 7 Chief Executive of BCA, Mr Kelvin Wong said, “The Green Buildings Innovation Cluster or GBIC Programme has been a cornerstone in furthering the deployment of innovation and technology in improving energy efficiency of buildings in Singapore. With active partnership with the industry, GBIC will be an enabler in meeting one of the outcomes of the Singapore Green Building Masterplan, which is to achieve an 80% improvement in energy efficiency for best-in-class green buildings by 2030. SP Group’s work in developing smart technologies will help building operators and occupants to reduce energy consumption. With buildings accounting for over 20% of Singapore’s emissions, BCA welcomes like-minded firms to partner us to reduce the carbon footprint of the Built Environment, working towards our collective goal of a more sustainable and liveable Singapore.” 8 The BCA Green Building Innovation Cluster aims to help push the boundaries of buildings’ energy efficiency standards under the Singapore Green Building Masterplan (SGBMP) and aid the transition to a low-carbon built environment. The SGBMP supports Singapore’s agenda on sustainable development as part of the Singapore Green Plan 2030, and the nation’s efforts to halve its 2030 peak greenhouse gas emissions by 2050. -End- About SP Group SP Group is a leading utilities group in the Asia Pacific, enabling a low-carbon, smart energy future for its customers. It owns and operates electricity and gas transmission and distribution businesses in Singapore and Australia, and sustainable energy solutions in Singapore and China. As Singapore’s national grid operator, about 1.6 million industrial, commercial and residential customers benefit from its world-class transmission, distribution and market 3 support services. These networks are amongst the most reliable and cost-effective worldwide. Beyond traditional utilities services, SP Group provides a suite of sustainable and renewable energy solutions such as microgrids, cooling and heating systems for business districts and residential townships, solar energy solutions, electric vehicle fast charging and digital energy solutions for customers in Singapore and the region. For more information, please visit spgroup.com.sg or for follow us on Facebook at fb.com/SPGroupSG, on LinkedIn at spgrp.sg/linkedin and on Twitter @SPGroupSG. About Building and Construction Authority (BCA) The Building and Construction Authority (BCA) champions the development and transformation of the Built Environment sector, in order to improve Singapore’s living environment. BCA oversees areas such as safety, quality, inclusiveness, sustainability and productivity, all of which, together with our stakeholders and industry partners, help to achieve our mission to transform the Built Environment sector and shape a liveable and smart built environment for Singapore. For more information, visit www1.bca.gov.sg. 4

2026 Course Code Duration (hr) Course Fee (1) Course Fee (after Funding) Course Details and ^ PDU (5) Registration JANUARY Course Dates Course Title Su Mo Tu We Th Fr Sa 8 Jan ENO51 Distribution Switchboard Maintenance for Commercial and Industrial Low Voltage Installation 7 $900 N.A. 7 Click here 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 15 Jan GRG02 Gas Market Structure and Gas Network Code 7 $800 N.A. 6 Click here 18 19 20 21 22 23 24 19 - 23 Jan EPG12 Power Plant Operations and Performance + 35 $3,500 $1,750 29 Click here 25 26 27 28 29 30 31 26 - 28 Jan ECL05 High Voltage Cable Jointing Techniques 21 $3,250 N.A. 19 Click here FEBRUARY Su Mo Tu We Th Fr Sa 12 - 13 Jan Assmt: 15, 16, 19 Jan ENO66 High Voltage Switching on Distribution Network 12.5 $1,650 N.A. Pending Click here 27 - 28 Jan ESG06 Design, Installation and Testing of Electrical Switchboard and Supply Turn-On 14 $1,600 N.A. 13 Click here 28 Jan EFD02 Essential Test Instruments for Low Voltage 7 $800 N.A. 6 Click here 1 2 3 4 5 6 7 2 Feb ~ 15 Apr ECL16 Distribution High Voltage Cable Jointing Proficiency 121 $13,000 $6,500 93 Click here 8 9 10 11 12 13 14 3 - 4 Feb EPG13 Managing Multiple Malfunctions in Power Plants +# 14 $1,400 $700 12 Click here 15 16 17 18 19 20 21 5 - 6 Feb EPG14 Best Practices for Power Plant Optimisation +# 14 $1,400 $700 13 Click here 22 23 24 25 26 27 28 4 - 5 Feb ERG01_T2 SS638 Code of Practice for Electrical Installations 14 $700 $350 13 Click here MARCH Su Mo Tu We Th Fr Sa 1 2 3 4 5 6 7 2 - 3 Mar ERG05 Lightning and Lightning Protection 14 $700 $350 13 Click here 8 9 10 11 12 13 14 9 - 13 Mar EPG11 Power Plant Operations and Process Controls + 35 $3,500 $1,750 29 Click here 15 16 17 18 19 20 21 10 Mar ERG06 Electrical Earthing Principles and Practices 7 $350 $175 6 Click here 22 23 24 25 26 27 28 29 30 31 All of our courses are conducted face-to-face *To be confirmed, please register your interest on our training portal + Courses conducted using the Centralised Power Plant Simulator # Courses EPG13 and EPG14 are part of the Advanced Certificate in Power Plant Operations and Performance and both courses must be taken together, following the training dates stated in this training calendar ^ Effective from Jan 2026, there will be changes to SSG course fee grants for SIPG courses. Refer to our SIPG training portal for further details. Important Notes: (1) Course fees are subject to prevailing GST. (2) Only Singapore Citizens, Permanent Residents & Long-Term Visit Pass Plus (LTVP+) Holders are eligible for Course Fee Funding (if any). (3) Funding grant is subject to funding agency's approval. (4) SkillsFuture Mid-Career Enhanced Subsidy only applicable for Singapore Citizens 40 years old and above. (5) PDU: Professional Development Unit awarded by Professional Engineers Board; PEB reserves the right to reject or adjust the PDUs awarded for each run. (6) Minimim class size is required to be met to start the class. Updated: 6 Jan 2026

Media Release Electricity Tariff Revision For The Period 1 July to 30 Sep 2023 Singapore, 30 June 2023 – For the period from 1 July to 30 September 2023, electricity tariff (before GST) will increase by an average of 1.2% or 0.31 cent per kWh compared with the previous quarter. This is due to higher energy costs (as detailed in Appendix 1) compared with the previous quarter. For households, the electricity tariff (before GST) will increase from 27.43 to 27.74 cents per kWh for the period 1 July to 30 September 2023. The average monthly electricity bill for families living in HDB four-room flats will increase by $1.14 (before GST). SP Group reviews the electricity tariffs every quarter based on guidelines set by the electricity industry regulator, Energy Market Authority (EMA). Please refer to Appendix 1 for the components of the electricity tariff, Appendix 2 for the tariffs approved by EMA, and Appendix 3 for the average monthly electricity bills for households.   Issued by: SP Group 2 Kallang Sector Singapore 349277 www.spgroup.com.sg Appendix 1 BREAKDOWN OF ELECTRICITY TARIFF 1. The electricity tariff consists of the following four components: Energy costs (paid to the generation companies): This component is adjusted quarterly to reflect changes in the cost of fuel and power generation. The fuel cost is the cost of imported natural gas, which is tied to oil prices by commercial contracts. The cost of power generation covers mainly the costs of operating the power stations, such as the manpower and maintenance costs, as well as the capital cost of the stations. Network costs (paid to SP Group): This is to recover the cost of transporting electricity through the power grid. Market Support Services Fee (paid to SP Group): This is to recover the costs of billing and meter reading, data management, retail market systems as well as market development initiatives. Market Administration and Power System Operation Fee (paid to Energy Market Company and Power System Operator): This fee is reviewed annually to recover the costs of operating the electricity wholesale market and power system. Appendix 2 Appendix 3 AVERAGE MONTHLY ELECTRICITY BILLS FOR HOUSEHOLDS TARIFF WEF 1 JULY 2023 (before GST)

Media Release EMA AND SP GROUP TO PILOT THERMAL ENERGY STORAGE SYSTEM AT ELECTRICITY SUBSTATION • Thermal energy storage system will increase power grid resilience and facilitate the incorporation of more renewable energy sources in Singapore • Pilot to include installation of additional chillers to support future expansion of the Marina Bay district cooling network, bringing more efficient and sustainable cooling to more buildings Singapore, 29 August 2022 – The Energy Market Authority (EMA) and SP Group (SP) will pilot an ice thermal Energy Storage System (ESS) at the George Street Substation. This will be the first time that EMA and SP are installing an ice thermal storage facility located on its own, outside a district cooling plant. Such ice thermal storage facilities are traditionally located within a district cooling plant. 2 The pilot will optimise space usage within the substation and be completed in the third quarter of 2026 as part of the substation’s renewal works. This ESS will add up to 1,500 Refrigeration ton-hour (RTH) of ice thermal energy to the Marina Bay district cooling network operated by SP. This will enable the curtailment of up to 2 megawatts (MW) of electrical load – the equivalent of 170 4-room HDB flats for a day. This will also contribute towards EMA’s target to deploy at least 200 MW of ESS beyond 2025. 3 ESS can help to address the issue of supply intermittency, as renewable energy such as solar power fluctuates due to weather conditions. The stored thermal energy can also be discharged to power the district cooling plant and shave peak load demand. This will help to balance the electricity load, thereby reducing intermittency and enabling the grid to be more resilient. 4 On this pilot’s importance, Mr Ngiam Shih Chun, Chief Executive of EMA, said, “Energy storage systems (ESS) help to address solar intermittency and can enhance the resilience of our power grid. EMA is pleased to partner SP Group on a thermal ESS at the 1 George Street power substation. If successful, more thermal ESS can be installed islandwide, which will support Singapore’s target of having at least 200 MW of ESS beyond 2025.” 5 As part of the pilot, SP will install 3,000 refrigeration tons (RT) of chiller capacity at the substation to support the future expansion of the Marina Bay district cooling network, bringing the total installed capacity of the network to 73,000 RT. This will allow SP to provide sustainable cooling to more buildings in the Marina Bay vicinity and surrounding areas such as Boat Quay. 6 Mr Stanley Huang, Group CEO, SP Group, said, “SP Group has built deep capabilities in operating Singapore’s national grid and upholding its world-class electricity network reliability. This pilot will provide valuable insights on leveraging existing electricity infrastructure to support sustainable energy developments. In exploring the operation of thermal energy storage in more locations, we aim to strengthen the resilience, reliability and sustainability of both our electricity and district cooling networks. This will also enable us to incorporate more renewable energy sources to empower a low-carbon, smart energy future for Singapore.” 7 The thermal ESS will also enhance SP’s participation in demand response, mitigating high prices during times of tight electricity supply. SP’s district cooling operations at Marina Bay are currently a key demand response provider in Singapore, with five thermal storage tanks contributing up to 11 MW of electricity load curtailment capacity. With the additional thermal energy storage from the George Street Substation, SP can increase its electricity load curtailment capacity for demand response during peak periods which will result in overall system savings. - End - 2 About the Energy Market Authority The Energy Market Authority (EMA) is a statutory board under the Singapore Ministry of Trade and Industry. Through our work, we seek to forge a progressive energy landscape for sustained growth. We aim to ensure a reliable and secure energy supply, promote effective competition in the energy market and develop a dynamic energy sector in Singapore. Visit www.ema.gov.sg for more information. About SP Group SP Group is a leading utilities group in the Asia Pacific, empowering the future of energy with low-carbon, smart energy solutions for its customers. It owns and operates electricity and gas transmission and distribution businesses in Singapore and Australia, and sustainable energy solutions in Singapore, China, Vietnam and Thailand. As Singapore’s national grid operator, about 1.6 million industrial, commercial and residential customers benefit from its world-class transmission, distribution and market support services. These networks are amongst the most reliable and cost-effective worldwide. Beyond traditional utilities services, SP Group provides a suite of sustainable and renewable energy solutions such as microgrids, cooling and heating systems for business districts and residential townships, solar energy solutions, electric vehicle fast charging and digital energy solutions for customers in Singapore and the region. For more information, please visit spgroup.com.sg or for follow us on Facebook at fb.com/SPGroupSG and LinkedIn at spgrp.sg/linkedin. 3

Media Release Tampines Town First in Singapore to Get Eco Boards with Real-time Updates on Utilities Consumption Tampines Town Council and SP Group boost efforts to transform Tampines into an Eco-Town Singapore, 12 December 2020 – About 633 households in Tampines will be the first in Singapore to have digital Eco Boards installed at their blocks and receive real-time updates on their blocks’ electricity and water consumption and carbon emissions. Tampines Town Council (TTC) and SP Group (SP), with support from Temasek and the Ministry of Sustainability and the Environment, today unveiled the Eco Boards which have been installed at five HDB blocks. Minister for Social and Family Development, Second Minister for Health and Minister-incharge of Muslim Affairs, Mr. Masagos Zulkifli witnessed the launch held at Block 878A, Tampines Avenue 8. He was accompanied by his fellow Members of Parliament for Tampines GRC - Ms. Cheng Li Hui, Chairman of Tampines Town Council; Mr. Desmond Choo, Mayor of North East District and Vice-Chairman of Tampines Town Council, and Mr. Baey Yam Keng, Senior Parliamentary Secretary, Ministry of Transport. Building a Sustainable Future for Tampines The introduction of the Eco Boards is a pilot programme to build sustainability awareness among residents and encourage them to adopt eco-friendly habits. The pilot is part of a larger national effort to bring sustainability to the community and transform HDB towns into EcoTowns. A total of 10 Eco Boards will be rolled out in Tampines over the next two months. Designed and developed in-house by SP’s team of energy tech experts, the Eco Boards provide residents with real-time updates on the block’s aggregated water and electricity consumption, and the resulting carbon emissions. They will be installed at the lift lobby of each block, giving residents easy access to green tips on lowering their utilities consumption. Residents can also participate in energy-saving challenges such as block-level competitions. A sample screen grab of the Eco Board can be found in Annex A. The Town Council can use insights from the Eco Boards to plan and achieve more efficient estate management. There are also plans to enhance the Town Council’s operations with an artificial intelligence-enabled anomaly detection component that will alert the Town Council to any resource wastage or inefficient consumption patterns. The Chairman of Tampines Town Council, Ms. Cheng Li Hui commented: "Our efforts to transform Tampines into a model Eco-Town continue to be a priority. We will always engage with our residents and gather inputs from different stakeholders." "With the support from our residents, grassroots organisations and SP Group, I am confident that the Eco Boards will be a success," Ms. Cheng added. Empowering Residents to Make Sustainable Choices Mr. Stanley Huang, Group Chief Executive Officer, SP Group said: “At SP Group, we enable everyone to play a part in building a low-carbon future for Singapore. Through the Eco Boards, we provide useful data and solutions for residents and estate managers to make eco-friendly choices and reduce their carbon footprint.” The Eco Boards complement the SP Utilities App to further encourage individuals to adopt a greener lifestyle. With the App, residents can track their household’s utilities consumption and use the My Carbon Footprint calculator to be more aware of their own impact on the environment. Residents will also be rewarded for their eco-friendly choicesthrough the App’s GreenUP programme, which empower and incentivise consumers to go green through sustainability challenges and earn rewards when bringing their own mugs or food containers to selected partner merchants. The App can be downloaded at https://utilities.spdigital.sg/. Screen grabs of the App can be found in Annex B. -Ends- Annex A: Sample of Eco Board Annex B: My Carbon Footprint calculator and GreenUP challenge via SP's Utilities App About Tampines Town Council Tampines Town Council was set up in 1990 to manage and maintain common property of HDB housing estates in Tampines which consists five divisions, namely, Central, East, West, North and Changkat. Tampines is fast becoming Singapore's model Eco Town. The town will see enhancements making it more green and environmentally sustainable. Some green initiatives include projects like Sustainability@Tampines Park. It is Singapore's first community-based circular ecosystem. Tampines has also implemented community- based projects to encourage on-the-ground sustainability initiatives. There are Reverse Vending Machines in selected parts of Tampines where residents are incentivised with FairPrice discount coupons to practise recycling. The Town Council is also working with relevant agencies to recruit Resident Gardeners to maintain and enhance our community gardens. About SP Group SP Group is a leading utilities group in the Asia Pacific, enabling a low-carbon, smart energy future for its customers. It owns and operates electricity and gas transmission and distribution businesses in Singapore and Australia, and sustainable energy solutions in Singapore and China. As Singapore's national grid operator, about 1.6 million industrial, commercial and residential customers benefit from its world-class transmission, distribution and market support services. These networks are amongst the most reliable and cost-effective world-wide. Beyond traditional utilities services, SP Group provides a suite of sustainable energy solutions such as cooling and heating systems for business districts and residential townships, electric vehicle fast charging and green digital energy management tools for customers in Singapore and the region. For more information, please visit spgroup.com.sg or for follow us on Facebook at fb.com/SPGroupSG, on Linkedln at spgrp.sg/linkedin and on Twitter @SPGroupSG.

30 Dec 2013 For Immediate Release MEDIA RELEASE ELECTRICITY TARIFF REVISION FOR THE PERIOD 1 JANUARY TO 31 MARCH 2014 1. For the period from 1 Jan to 31 Mar 2014, electricity tariffs will decrease by an average of 1.7% or 0.43 cent per kWh. The tariff reduction is due to the lower cost of natural gas used for electricity generation, which fell by 2.6% compared to the previous quarter. 2. The electricity tariff for households will decrease from 26.08 to 25.65 cents per kWh in Q1 2014. The average monthly electricity bill for families living in four-room HDB flats will decrease by $1.65 (see Appendix 3 for the average decrease for different household types). 3. SP Services reviews the electricity tariffs quarterly based on guidelines set by the Energy Market Authority (EMA), the electricity industry regulator. The tariffs given in Appendix 1 have been approved by the EMA. _______________________________________________________________________________________________________ Issued by: SP Services Limited 10 Pasir Panjang Road #03-01 Mapletree Business City Singapore 117438 Co. Reg No : 199504470N www.spservices.com.sg SP Services Ltd 10 Pasir Panjang Road #03-01 Mapletree Business City Singapore 117438 Tel (65) 6378 8888 www.spservices.com.sg Co. Registration No.: 199504470N Appendix 1 REVISED ELECTRICITY TARIFFS FROM 1 JANUARY 2014 SP Services Ltd 10 Pasir Panjang Road #03-01 Mapletree Business City Singapore 117438 Tel (65) 6378 8888 www.spservices.com.sg Co. Registration No.: 199504470N Appendix 2 COMPONENTS OF ELECTRICITY TARIFF 1. The electricity tariff consists of the following four components: a) Energy cost (paid to the generation companies): This component is adjusted quarterly to reflect changes in the cost of power generation. b) Network cost (paid to SP PowerAssets): This fee is reviewed annually. c) Market Support Services Fee (paid to SP Services): This fee is reviewed annually. d) Market Administration and Power System Operation Fee (paid to Energy Market Company and Power System Operator): This fee is reviewed annually to recover the costs of operating the electricity wholesale market and power system. Q1 2014 TARIFF Energy Costs 20.38¢/kWh Decreased by 0.43 ¢/kWh Generation Companies Network Costs 5.05¢/kWh MSS Fee 0.17¢/kWh Market Admin & PSO Fee 0.05¢/kWh No Change No Change No Change SP PowerAssets SP Services Power System Operator & Energy Market Company SP Services Ltd 10 Pasir Panjang Road #03-01 Mapletree Business City Singapore 117438 Tel (65) 6378 8888 www.spservices.com.sg Co. Registration No.: 199504470N Appendix 3 AVERAGE DECREASE IN MONTHLY ELECTRICITY BILLS OF DOMESTIC CUSTOMERS (TARIFF REVISION WEF 1 JANUARY 2014) SP Services Ltd 10 Pasir Panjang Road #03-01 Mapletree Business City Singapore 117438 Tel (65) 6378 8888 www.spservices.com.sg Co. Registration No.: 199504470N

Consumption_Elect Average consumption of Electricity (kWh) Premises Types Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 HDB 1-Room 121 119 128 136 150 143 150 136 136 144 127 124 HDB 2-Room 161 156 169 181 195 190 195 177 177 188 164 165 HDB 3-Room 231 231 250 265 284 273 280 257 259 271 242 239 HDB 4-Room 320 309 341 363 390 381 388 358 355 377 334 330 HDB 5-Room 374 359 399 425 457 450 459 423 417 444 392 386 HDB Executive 458 445 495 522 562 554 562 520 513 546 478 472 Apartment 419 417 476 516 548 536 541 513 501 538 500 451 Terrace 744 714 775 823 881 848 866 817 818 836 785 734 Semi-Detached 974 960 1,031 1,080 1,173 1,123 1,121 1,072 1,056 1,107 1,016 951 Bungalow 1,872 1,904 2,016 2,154 2,244 2,175 2,168 2,190 2,074 2,202 2,040 1,950 Note: The figures exclude electricity consumption for PAYU customers and customers who are not purchasing electricity at the regulated tariff.