Statement by Auditors

Report of the Independent Auditors on the Group Financial Summary

We are the auditors of Temasek Holdings (Private) Limited (“Temasek”). We have audited the statutory consolidated financial statements of Temasek and its subsidiaries (the “Group”) for the financial years ended 31 March 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016 and 2017 and have issued unmodified audit reports.

Under the Singapore Companies Act, Chapter 50, Temasek is an exempt private company and is not required to publish its audited statutory consolidated financial statements.

Management is responsible for the preparation and presentation of the Group Financial Summary for the financial years ended 31 March 2008 to 2017. The Group Financial Summary consists of the Group Income Statements, Group Balance Sheets and Group Cash Flow Statements as at and for the financial years ended 31 March 2008 to 2017 and Group Statements of Changes in Equity for the financial years ended 31 March 2016 and 2017, which is derived from the audited statutory consolidated financial statements. The Group Financial Summary does not contain all the disclosures required by Financial Reporting Standards in Singapore applied in the preparation of the audited statutory consolidated financial statements of the Group. Reading the Group Financial Summary, therefore, is not a substitute for reading the audited statutory consolidated financial statements of the Group.

Our responsibility is to express an opinion on whether the Group Financial Summary is consistent, in all material respects, with the audited statutory consolidated financial statements based on our procedures, which were conducted in accordance with Singapore Standard on Auditing (SSA) 810 (Revised) – Engagements to Report on Summary Financial Statements.

In our opinion, the accompanying Group Financial Summary is summarised and presented consistently, in all material respects, with the audited statutory consolidated financial statements of the Group for the financial years ended 31 March 2008 to 2017.

KPMG LLP Signature

KPMG LLP

Public Accountants and Chartered Accountants
Singapore
3 July 2017