Singapore, 14 September 2020 – Temasek Financial (I) Limited (“TFin-I”), a wholly-owned subsidiary of Temasek Holdings (Private) Limited (“Temasek”), today announced that it has increased the limit of its Guaranteed Global Medium Term Note Programme (the “Programme”) from US$20 billion to US$25 billion.

Net proceeds arising from the issuances of notes under the Programme will be provided by TFin-I to Temasek and its Investment Holding Companies to fund their ordinary course of business, unless otherwise disclosed in the relevant pricing supplement. TFin-I currently has 15 series of notes, totalling S$12.1 billion (US$8.5 billion¹), outstanding under the Programme.

The last Programme limit increase² took place in July 2018, when it was increased from US$15 billion to US$20 billion.

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References to “US$” are to U.S. dollars, the lawful currency of the United States.

This release is not an offer of securities for sale in the United States. The securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. No portion of the proposed offering is intended to be registered in the United States, and no public offering is intended to be conducted in the United States.

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¹ Exchange rate as at 31 March 2020.

² Previously, the Programme limit was increased from an initial US$5 billion in September 2005 to US$10 billion in February 2010, then to US$15 billion in July 2013.