Singapore, 16 December 2013 – Temasek Holdings (Private) Limited (“Temasek”) has today redeemed S$500 million Zero Coupon Guaranteed Exchangeable Bonds due 2013 (“TEB2013 – L&F HK”) through its wholly-owned subsidiary, Temasek Financial (III) Private Limited (“TFin-III”).

TEB2013 – L&F HK was a zero coupon exchangeable bond issued by TFin-III at par in December 2011, with a maturity date of 14 December 2013. The payment and exchange obligations of TFin-III under TEB2013 – L&F HK were unconditionally and irrevocably guaranteed by Temasek. If exchange rights had been exercised in accordance with the terms and conditions of the bonds, TEB2013 – L&F HK would have been exchanged for ordinary shares of Li & Fung Limited, with par value of HKD 0.0125 each.

According to the terms and conditions of the bonds set out in the TEB2013 – L&F HK introductory document dated 7 June 2012, TEB2013 – L&F HK would be redeemed by TFin-III at par on the maturity date, unless the bonds were previously exchanged, redeemed, purchased or cancelled. There were no previous exchanges, redemptions, purchases or cancellations of TEB2013 – L&F HK.

As the maturity date of 14 December 2013 was a Saturday, a non-business day, all TEB2013 – L&F HK were redeemed at par today.

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References to “S$” refer to Singapore dollars, the legal currency of the Republic of Singapore and references to “HKD” refer to Hong Kong dollars, the legal currency of the Special Administrative Region of Hong Kong.

Incorporated in 1974, Temasek is an investment company based in Singapore, with 11 affiliates and offices in Asia and Latin America. Temasek owns a S$215 billion portfolio as at 31 March 2013, with 71% of its underlying assets in Asia (including Singapore), and 25% in the mature economies of North America, Europe, Australia & New Zealand.

Temasek's investment themes centre on:

• Transforming Economies
• Growing Middle Income Populations
• Deepening Comparative Advantages
• Emerging Champions

Temasek’s portfolio covers a broad spectrum of industries: financial services; transportation, logistics and industrials; telecommunications, media & technology; life sciences, consumer & real estate; energy & resources.

Total shareholder return since inception in 1974 has been 16% compounded annually.

The company has had a corporate credit rating of AAA/Aaa since its inaugural credit rating in 2004, by rating agencies Standard & Poor's and Moody's respectively.

For more information on Temasek, please visit www.temasek.com.sg