| Temasek Review 2011

Our auditors, KPMG LLP, have expressed unqualified opinions on the audited statutory consolidated financial statements of Temasek Holdings (Private) Limited and its subsidiary companies (the “Group”) for the financial years ended 31 March 2008 to 2011. Our auditors for the financial years ended 31 March 2004 to 2007, PricewaterhouseCoopers LLP¹, have expressed unqualified opinions on the audited statutory consolidated financial statements of the Group for the financial years ended 31 March 2004 to 2007.

On behalf of the directors

S DHANABALAN
Chairman

29 June 2011

HO CHING
Executive Director & Chief Executive Officer

29 June 2011

1. 1PricewaterhouseCoopers LLP was converted from a partnership to a limited liability partnership on 1 January 2009.