Search SP Group Vietnamhttps://www.spgroup.com.sg/about-us/international/vietnam OverviewChinaVietnamThailandAustralia Vietnam With the transition to renewable energy and a drive towards energy efficiency in Vietnam, SP Group is building on these developments to export and acquire expertise and assets in Vietnam. We set up an office in Ho Chi Minh City in 2020 to pursue Searchhttps://www.spgroup.com.sg/search?tag=vietnam Search SP Group Vietnamhttps://www.spgroup.com.sg/about-us/international/vietnam OverviewChinaVietnamThailandAustralia Vietnam With the transition to renewable energy and a drive towards energy efficiency in Vietnam, SP Group is building on these developments to export and acquire expertise SP Group Acquires First Solar Farm Assets of 100MWP in Vietnamhttps://www.spgroup.com.sg/about-us/media-resources/news-and-media-releases/SP-Group-Acquires-First-Solar-Farm-Assets-of-100MWP-in-Vietnam Media Release SP Group Acquires First Solar Farm Assets of 100MWP in Vietnam SP GROUP ACQUIRES FIRST SOLAR FARM ASSETS OF 100MWP IN VIETNAM: The two solar farms located in the Phu Yen Province will generate 130 GWh of green electricity annually, amounting to an avoidance of 105,000 tonnes in carbon [20230306]+Media+Release_SP+Group+Acquires+First+Solar+Farm+Assets+of+100MWp+in+Vietnam.pdfhttps://www.spgroup.com.sg/dam/spgroup/wcm/connect/spgrp/19ac2aa3-5a17-4723-83b1-7d03ad6981fd/%5B20230306%5D+Media+Release_SP+Group+Acquires+First+Solar+Farm+Assets+of+100MWp+in+Vietnam.pdf?MOD=AJPERES&CVID= Media Release SP GROUP ACQUIRES FIRST SOLAR FARM ASSETS OF 100MWP IN VIETNAM • The two solar farms located in the Phu Yen Province will generate 130 GWh of green electricity annually, amounting to an avoidance of 105,000 tonnes in carbon emissions each year. • This is part of SP Group’s ambition SP Group donates 1 billion VND to support families affected by Typhoon Yagihttps://www.spgroup.com.sg/about-us/media-resources/news-and-media-releases/SP-Group-donates-1-billion-VND-to-support-families-affected-by-Typhoon-Yagi Media Release SP Group donates 1 billion VND to support families affected by Typhoon Yagi Hai Phong City, Vietnam, 2nd Oct, 2024 – SP Group (SP) has made a donation of one billion VND (SGD53,000) in support of families who have been displaced by the effects of Typhoon Yagi, The donation, through [20210524] Media Release - SP Group inks MOU with BCG Energy to Invest in Renewables in Vietnamhttps://www.spgroup.com.sg/dam/spgroup/wcm/connect/spgrp/ffc72487-c8fe-4e30-9842-6b95c2652239/%5B20210524%5D+Media+Release+-+SP+Group+inks+MOU+with+BCG+Energy+to+Invest+in+Renewables+in+Vietnam.pdf?MOD=AJPERES&CVID= News Release SP GROUP INKS MOU WITH BCG ENERGY TO INVEST IN RENEWABLES IN VIETNAM Singapore, Vietnam, 24 May 2021 – SP Group (SP) and BCG Energy Joint Stock Company (BCG Energy), a wholly owned subsidiary of Bamboo Capital JSC, signed a Memorandum of Understanding (MoU) to invest in renewable SP Group Inks MOU with BCG Energy to Invest in Renewables in Vietnamhttps://www.spgroup.com.sg/about-us/media-resources/news-and-media-releases/SP-Group-Inks-MOU-with-BCG-Energy-to-Invest-in-Renewables-in-Vietnam News Release SP Group Inks MOU with BCG Energy to Invest in Renewables in Vietnam Singapore, Vietnam, 24 May 2021 – SP Group (SP) and BCG Energy Joint Stock Company (BCG Energy), a wholly owned subsidiary of Bamboo Capital JSC, signed a Memorandum of Understanding (MoU) to invest in renewable [20220516]+Media+Release+-+SP+Group+and+NuriFlex+To+Install+Rooftop+Solar+Power+For+TKG+Taekwang+Vina.pdfhttps://www.spgroup.com.sg/dam/spgroup/wcm/connect/spgrp/24420397-1e84-4802-90fd-dbff32e89eef/%5B20220516%5D+Media+Release+-+SP+Group+and+NuriFlex+To+Install+Rooftop+Solar+Power+For+TKG+Taekwang+Vina.pdf?MOD=AJPERES&CVID= have signed power purchasing agreements (PPAs) with TKG Taekwang Vina, a manufacturing leader in Vietnam, to develop and install up to 20 Megawatt-peak (MWp) of rooftop solar power at three mega factories for TKG Taekwang Vina. Representatives from the Korean Chamber of Commerce and Industry were SP Group and Nuriflex to Install Rooftop Solar Power for TKG Taekwang Vinahttps://www.spgroup.com.sg/about-us/media-resources/news-and-media-releases/SP-Group-and-NuriFlex-to-install-rooftop-solar-power-for-TKG-Taekwang-Vina have signed power purchasing agreements (PPAs) with TKG Taekwang Vina, a manufacturing leader in Vietnam, to develop and install up to 20 Megawatt-peak (MWp) of rooftop solar power at three mega factories for TKG Taekwang Vina. Representatives from the Korean Chamber of Commerce and Industry were SP Group Secures First Solar Project in Vietnam Through Joint Venture with BCG Energyhttps://www.spgroup.com.sg/dam/spgroup/wcm/connect/spgrp/98294918-c5e2-499f-ab55-955402c6c993/SP+Group+Secures+First+Solar+Project+in+Vietnam+Through+Joint+Venture+with+BCG+Energy_+Press+Release_Final.pdf?MOD=AJPERES&CVID= News Release SP GROUP SECURES FIRST SOLAR PROJECT IN VIETNAM THROUGH JOINT VENTURE WITH BCG ENERGY • Joint venture targets 500MWp of rooftop projects by 2025 • Agreement secured with Vinamilk – Vietnam’s largest dairy company, to install up to 25 MWp of rooftop solar across various properties SP Group Secures First Solar Project in Vietnam Through Joint Venture with BCG Energyhttps://www.spgroup.com.sg/about-us/media-resources/news-and-media-releases/SP-Group-Secures-First-Solar-Project-in-Vietnam-Through-Joint-Venture-with-BCG-Energy News Release SP Group Secures First Solar Project in Vietnam Through Joint Venture with BCG Energy   Joint venture targets 500MWp of rooftop projects by 2025 Agreement secured with Vinamilk – Vietnam’s largest dairy company, to install up to 25 MWp of rooftop solar across various properties [20210524] The Business Times Online - SP Group signs MOU with BCG Energy to invest in renewables in Vietnamhttps://www.spgroup.com.sg/dam/jcr:827c9755-0da6-4da1-9205-08b6543a302e ENERGY & COMMODITIES SP Group signs MOU with BCG Energy to invest in renewables in Vietnam � MON, MAY 24, 2021 - 12:02 PM GAYLE GOH � gaylegoh@sph.com.sg NATIONAL grid operator SP Group (SP) and BCG Energy announced on Monday that they have signed a memorandum of understanding (MOU) to invest 1 2 3 4 5 ..... 14

Search Singapore Power Wins Smart Grid Project Of The Year With Silver Spring Networkshttps://www.spgroup.com.sg/about-us/media-resources/news-and-media-releases/Singapore-Power-Wins-Smart-Grid-Project-Of-The-Year-With-Silver-Spring-Networks Media Release Singapore Power Wins Smart Grid Project Of The Year With Silver Spring Networks Partners Achieve Flexible Countrywide Deployment of 21st Century Energy Infrastructure Through Silver Spring IPv6 Platform with MicroAP Technology Kuala Lumpur, Malaysia - September 12, 2014 - Singapore Power (SP) won the 'Smart Grid Project of the Year' award at the Asian Power Awards 2014 today, for its programme with Silver Spring Networks, Inc. (NYSE: SSNI) to enable deregulated energy services in Singapore. This was enabled by SP's successful deployment of a smart infrastructure networking platform, with nation-wide coverage, through Silver Spring's IPv6 technology. Since April 2014, SP has successfully begun delivering deregulated energy services to 15,000 commercial and industrial (C&I) customers, in support of the Singapore government's policy to progressively liberalise the retail electricity market. In addition, SP leveraged Silver Spring's MicroAP Technology and a RF mesh canopy network to reach geographically dispersed customers, and maintain 99.5% meter read success rate. This helps SP ensure reliable communications from anywhere, at all times. "The Smart Grid Project of the Year award recognises Singapore Power for delivering reliable and efficient energy services to consumers. Through the deployment of new technology, SP has empowered our customers with more choice and the ability to better manage their energy usage, so as to achieve savings on electricity bills," said Peter Leong, Managing Director, Sp PowerGrid. "Silver Spring Networks is a key partner in the implementation of this country-wide platform. Through such partnerships, Singapore Power can continue to deliver greater value to Singapore consumers." "We congratulate Singapore Power on today's win and are happy to partner with them to deploy world-class infrastructure that helps deliver lower prices and greater choice to their customers," said Eric Dresselhuys, EVP of Global Development and Sales, Silver Spring Networks. "Utilities across Asia can look to Singapore Power as a best practice example for how to deploy smart grid services. Their sophisticated network canopy delivers scalable smart grid and smart city applications to help drive energy efficiency and new services for consumers for years to come." 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. For more information, please visit www.singaporepower.com.sg. About Silver Spring Networks Silver Spring Networks is a leading networking platform and solutions provider for smart energy networks. Silver Spring's pioneering IPv6 networking platform, with over 19 million Silver Spring enabled devices delivered, is connecting utilities to homes and business throughout the world with the goal of achieving greater energy efficiency for the planet. Silver Spring's innovative solutions enable utilities to gain operational efficiencies, improve grid reliability, and empower consumers to monitor and manage energy consumption. Silver Spring Networks' customers include major utilities around the globe such as Baltimore Gas & Electric, CitiPower & Powercor, Commonwealth Edison, CP Energy, Florida Power & Light, Jemena Electricity Networks Limited, Pacific Gas & Electric, Pepco Holdings, Progress Energy and Singapore Power, among others. To learn more, please visit www.silverspringnet.com. # # # # Forward-Looking Statements This press release contains forward-looking statements about Silver Spring Networks' expectations, plans, intentions, and strategies, including, but not limited to statements regarding Silver Spring Networks' engagement with Singapore Power, and the benefits of that engagement to SP and its customers. Statements including words such as "anticipate", "believe", "estimate", "expect" or "future" and statements in the future tense are forward- looking statements. These forward-looking statements involve risks and uncertainties, as well as assumptions, which, if they do not fully materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. The risks and uncertainties include those described in Silver Spring Networks' documents filed with or furnished to the Securities and Exchange Commission. All forward-looking statements in this press release are based on information available to Silver Spring Networks as of the date hereof. Silver Spring Networks assumes no obligation to update these forward-looking statements. [20150701] The Electricity Times - Keep Cool During The Hot Monthshttps://www.spgroup.com.sg/dam/spgroup/wcm/connect/spgrp/6bfaf60b-89d1-4980-bc2e-c97e200ad116/%5B20150701%5D+The+Electricity+Times+-+Keep+Cool+During+The+Hot+Months.pdf?MOD=AJPERES&CVID= W 炎 炎 夏 日 , 轻 松 消 暑 酷 暑 季 节 的 水 电 煤 使 用 情 况 在 每 年 五 至 八 月 的 酷 暑 季 节 , 即 使 日 常 活 动 及 生 活 模 式 保 持 不 变 , 水 电 消 耗 量 仍 会 趋 向 增 加 。 在 较 高 的 室 外 气 温 下 , 冷 气 需 要 承 受 更 大 的 负 荷 才 能 维 持 理 想 的 室 内 温 度 。 下 列 情 况 会 使 您 消 耗 更 多 能 源 3 种 简 便 的 节 能 方 法 监 控 您 的 能 源 消 耗 量 • 天 气 炎 热 导 致 洗 澡 次 数 增 加 • 离 开 之 前 关 掉 所 有 电 灯 和 电 器 • 学 校 放 假 或 新 生 儿 的 加 入 导 致 呆 在 家 里 的 人 数 增 加 • 添 置 了 新 的 家 用 电 器 • 将 洗 衣 机 设 置 为 冷 水 模 式 , 而 非 热 水 模 式 • 用 电 水 壶 或 有 盖 的 锅 烧 开 水 , 以 减 少 热 量 流 失 • 你 可 与 高 效 使 用 能 源 的 邻 居 进 行 对 比 , 查 看 你 在 过 去 六 个 月 的 能 源 使 用 量 • iOS 和 安 卓 (Android) 平 台 均 可 运 行 此 应 用 程 序 • • • • • • • • • Untuk mengatur kunjungan ke Pusat Kecekapan Singapore Power atau mengatur supaya pameran “Energy Heroes: It’s Your Power!” mengunjungi sekolah anda, sila hubungi kami di: Telefon: 6378 8293 E-mel: eec@singaporepower.com.sg Layari: www.singaporepower.com.sg Historical-National-Average-Household-usage--Website-Data-Sep22-to-Aug24-.xlsxhttps://www.spgroup.com.sg/dam/spgroup/docs/our-services/utilities/tariff-information/Historical-National-Average-Household-usage--Website-Data-Sep22-to-Aug24-.xlsx Consumption_Elect Average consumption of Electricity (kWh) Premises Types Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 HDB 1-Room 139 132 130 127 125 121 111 127 142 152 147 145 143 146 144 135 126 126 132 150 152 149 140 151 HDB 2-Room 184 172 171 165 166 158 148 166 185 202 190 190 189 190 188 176 164 167 173 199 199 195 183 198 HDB 3-Room 257 245 245 235 233 226 212 242 270 288 271 272 269 274 269 247 236 241 250 292 285 277 264 283 HDB 4-Room 354 333 334 320 318 309 289 326 367 391 371 371 367 374 370 342 321 330 342 398 396 383 360 385 HDB 5-Room 416 388 389 373 369 363 338 381 428 456 437 434 427 437 436 401 367 381 399 463 466 448 416 447 HDB Executive 504 472 476 448 453 443 414 473 528 561 531 536 528 541 530 478 456 474 489 575 568 544 515 546 Apartment 519 498 496 469 450 425 414 465 543 585 546 514 515 537 541 483 430 435 486 578 573 543 500 513 Terrace 815 781 785 752 748 727 686 756 867 902 868 866 859 890 881 804 740 794 821 957 900 872 838 847 Semi-Detached 1,091 1,030 1,054 995 997 962 930 1,024 1,182 1,233 1,159 1,134 1,150 1,187 1,174 1,065 1,019 1,038 1,109 1,254 1,224 1,170 1,128 1,126 Bungalow 2,146 2,004 2,182 1,986 2,073 1,938 1,901 2,016 2,303 2,482 2,320 2,219 2,298 2,308 2,358 2,075 2,106 1,951 2,146 2,432 2,360 2,266 2,220 2,121 Electricity Supply Disruptionhttps://www.spgroup.com.sg/about-us/media-resources/news-and-media-releases/Electricity-Supply-Disruption Media Statement Electricity Supply Disruption ELECTRICITY SUPPLY DISRUPTION Singapore, 18 September 2018 – Electricity supply to parts of Singapore was disrupted at about 1.18 am today. Supply was fully restored within 38 minutes, by 1.56 am today. (Timing updated) We apologise for the inconvenience caused and thank the public for their patience. About 146,797 residential and commercial customers were affected. Our officers were immediately deployed to the affected areas and our priority was to restore supply as safely and quickly as possible. The areas affected were Boon Lay, Choa Chu Kang, Clementi, Jurong, Pandan Loop, Aljunied, Geylang, Tanjong Rhu, Mountbatten, Kembangan, Bedok, East Coast, Ang Mo Kio, Bishan, Thomson, Mandai, Admiralty, Sembawang and Woodlands. In our preliminary findings, the disruption was due to partial loss of supply from two power generation units. Our investigations are ongoing. National-Average-Household-Consumption----_Feb-24-to-Jan-25.xlsxhttps://www.spgroup.com.sg/dam/spgroup/docs/our-services/utilities/tariff-information/National-Average-Household-Consumption----_Feb-24-to-Jan-25.xlsx Utility Bill Avg_With Gas Utility Bill Average ($) for households with gas Premises Types Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 HDB 1-Room 78.99 81.28 87.54 87.29 84.83 81.86 87.86 87.69 83.11 84.19 79.07 78.29 HDB 2-Room 91.78 94.78 103.49 102.84 98.53 96.07 102.96 101.39 96.90 97.62 92.27 91.27 HDB 3-Room 115.94 120.33 132.29 128.10 124.29 121.74 129.94 128.83 123.83 123.57 117.18 114.72 HDB 4-Room 137.04 142.66 156.01 153.34 147.42 143.11 152.92 152.86 146.17 146.88 140.21 135.59 HDB 5-Room 144.16 151.97 165.19 162.85 156.27 149.96 161.67 162.41 156.08 156.45 149.31 142.48 HDB Executive 160.98 168.72 184.59 180.19 172.48 168.80 178.86 180.50 172.04 172.61 163.45 157.40 Apartment 163.04 179.66 198.71 191.52 184.01 175.50 181.94 191.11 186.36 183.84 175.37 163.41 Terrace 270.34 290.38 311.38 286.03 283.33 283.80 289.68 301.49 291.00 290.49 277.89 263.67 Semi-Detached 335.52 370.67 392.95 372.29 354.71 361.00 367.73 385.46 366.17 370.19 349.08 335.83 Bungalow 619.13 718.02 776.44 731.30 675.72 711.32 685.95 762.28 719.32 712.26 661.91 659.36 Note: The figures exclude electricity charges for PAYU customers and customers who are not purchasing electricity at the regulated tariff. Utility Bill Avg_WO Gas Utility Bill Average ($) for households without gas Premises Types Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 HDB 1-Room 69.30 71.92 78.05 78.52 76.28 73.55 78.77 78.62 74.36 75.37 70.55 69.80 HDB 2-Room 82.23 85.21 93.42 93.59 89.84 87.41 93.80 92.26 88.22 88.72 83.62 82.58 HDB 3-Room 102.84 107.06 118.11 115.38 112.09 109.70 116.95 115.78 111.35 111.05 105.02 102.49 HDB 4-Room 120.97 126.03 138.53 137.64 132.74 128.46 137.02 136.76 130.76 131.35 125.25 120.76 HDB 5-Room 126.60 133.43 145.81 145.63 140.07 134.00 144.16 144.59 138.87 139.24 132.77 126.41 HDB Executive 142.35 149.14 163.91 161.79 155.45 151.54 160.36 161.59 153.95 154.44 146.15 140.37 Apartment 140.09 155.96 175.31 171.33 164.80 156.02 161.06 169.18 164.23 161.75 154.01 142.43 Terrace 243.21 259.98 282.50 262.69 259.01 258.83 264.59 274.69 263.93 263.37 250.88 239.06 Semi-Detached 305.12 337.24 359.90 342.81 328.12 331.78 338.46 354.82 336.52 340.26 319.77 307.20 Bungalow 570.77 662.48 717.39 678.65 633.29 661.40 638.62 711.71 667.03 661.57 617.06 610.72 Note: The figures exclude electricity charges for PAYU customers and customers who are not purchasing electricity at the regulated tariff. An Overview Of Transmission Code.pdfhttps://www.spgroup.com.sg/dam/jcr:c84f9786-e8ea-4449-9471-470d52c1dad1/An%20Overview%20Of%20Transmission%20Code.pdf Singapore Institute of Power and Gas An Overview of Transmission Code Course Code: ERG04 COURSE OBJECTIVES Upon completion of this course, participants will be able to: • Understand the transmission code • Apply the transmission code to transmission system planning and development • Understand the Singapore electricity market structure MAIN CONTENTS • Singapore Electricity Market Structure • Electricity Transmission System • Scope of transmission code • Connection agreements • Disconnection and discontinuance • Transmission system planning and development • Inspection and maintenance METHODOLOGY Lecture TARGET AUDIENCE Engineers and technical staff who are required to carry out transmission system planning, development, inspection and maintenance work COURSE DETAILS Duration : 7 hours Mode of Delivery : Face-to-Face or Blended (Face-to-face and Synchronous E-Learning) Certification : SIPG Certificate of Completion PDU by PE Board : Pending Additional Requirement/s : N.A. COURSE FEES Full Course Fee : S$800 (before GST) For Singapore Citizens/PR/LTVP+* : Not applicable For Singapore Citizens (40 years old and above) ADDITIONAL REMARKS : Not applicable • Trainee must attain at least 75% attendance rate and pass the assessment to receive Certificate of Completion and funding grant (if applicable). • Subsidy of up to 70% is applicable for Singapore Citizens, Permanent Residents or Long-Term Visitor Pass Plus (LTVP+) Holders, subject to funding agency’s approval. • Enhanced subsidy of up to 90% is applicable for Singapore Citizens aged 40 years and above, subject to funding agency’s approval. Note that GST payable will be computed from fee after 70% funding. • Professional Development Unit (PDU) is applicable for Professional Engineers registered under the Professional Engineers (PE) Board only. • All published fees are subject to prevailing GST. Singapore Institute of Power and Gas Pte Ltd UEN: 201427065Z 2 Kallang Sector, Singapore 349277 Ver 3.2_0523 Singapore Institute of Power and Gas CONTACT US For more information, please contact SIPG at +65 6916 7930 or email training-institute@spgroup.com.sg. OTHER SIPG COURSES For more courses, visit our website at: https://www.spgroup.com.sg/about-us/training or Scan the QR code below: Singapore Institute of Power and Gas Pte Ltd UEN: 201427065Z 2 Kallang Sector, Singapore 349277 Ver 3.2_0523 Average-Gas-Consumption--kWH-_Jan-25-to-Dec-25.xlsxhttps://www.spgroup.com.sg/dam/spgroup/docs/our-services/utilities/tariff-information/Average-Gas-Consumption--kWH-_Jan-25-to-Dec-25.xlsx Consumption_Gas Average consumption of Gas (kWh) Premises Types Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 HDB 1-Room 34 39 36 39 35 36 31 34 35 34 34 33 HDB 2-Room 35 37 35 38 37 36 33 34 35 34 36 33 HDB 3-Room 49 51 49 52 50 50 47 49 50 49 49 47 HDB 4-Room 60 63 62 65 62 62 58 60 62 61 61 58 HDB 5-Room 65 70 70 72 68 68 64 67 69 69 68 65 HDB Executive 68 75 74 77 73 72 69 71 73 72 72 68 Apartment 84 92 93 95 87 84 76 81 89 92 89 83 Terrace 99 108 107 107 103 105 96 100 108 112 106 106 Semi-Detached 115 124 121 123 117 120 116 120 125 120 130 122 Bungalow 195 192 202 205 195 186 188 177 197 202 198 181 [20170712] The Straits Times - Siemens Digitalisation Hub To Help Boost Smart Nation Efforthttps://www.spgroup.com.sg/dam/jcr:fa21cc91-a7e3-4795-bba9-687e41390916 sp-powerassets-financial-statements-fy2122.pdfhttps://www.spgroup.com.sg/dam/spgroup/pdf/energy-hub/annual-report/sp-powerassets-financial-statements-fy2122.pdf SP PowerAssets Limited Directors’ statement Year ended 31 March 2022 1 Directors’ statement We are pleased to submit this annual report to the member of SP PowerAssets 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) the financial statements set out are drawn up so as to give a true and fair view of the financial position of the Company as at 31 March 2022 and the financial performance, changes in equity and cash flows 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 (b) 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: Mr Stanley Huang Tian Guan Mrs Jeanne Cheng Mr Ong Teng Koon Ms Amelia Champion Ms Loong Hui Chee Mr Kenneth Soh Yew Chin 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: SP PowerAssets Limited 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 Holdings at end of the year Mrs Jeanne Cheng Singapore Telecommunications Limited Singapore Technologies Engineering Ltd 11,180 10,000 11,180 10,000 Ms Amelia Champion Singapore Telecommunications Limited CapitaLand Limited CapitaLand Investment Limited CapitaLand Integrated Commercial Trust – units 1,430 5,000 – – 1,430 –* 5,000* 773* Ms Loong Hui Chee Ascendas Real Estate Investment Trust – units Ascott Residence Trust – units CapitaLand Limited CapitaLand Investment Limited CapitaLand Integrated Commercial Trust – units Mapletree North Asia Commercial Trust – units Mapletree Treasury Services Limited - 3.95% Perpetual Bond Singapore Airlines Limited Singapore Technologies Engineering Ltd Singapore Telecommunications Limited Temasek Financial (IV) Private Limited - 2.70% T2023 Temasek S$ Bond due 25 October 2023 14,615 159,248 21,531 – 57,344 59,471 S$250,000 20,669 1,495 117,108 S$13,000 14,615 159,248 –* 21,531* 71,680* 60,321 S$250,000 20,669 1,495 117,108 S$13,000 * Scheme of arrangement by CapitaLand Limited (“CapitaLand”), pursuant to which every 1 CapitaLand share was exchanged for 1 share in CapitaLand Investment Limited, 0.154672686 unit in CapitaLand Integrated Commercial Trust, and S$0.951 in cash. SP PowerAssets Limited Directors’ statements Year ended 31 March 2022 3 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 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. As at the end of the financial year, there were no unissued shares of the Company under option. On behalf of the Board of Directors MR STANLEY HUANG TIAN GUAN Chairman MS LOONG HUI CHEE Director 1 June 2022 SP PowerAssets Limited Independent auditor’s report Year ended 31 March 2022 4 Independent Auditor’s Report For The Financial Year Ended 31 March 2022 Independent Auditor’s Report to the Member of SP PowerAssets Limited Report on the Audit of the Financial Statements Opinion We have audited the accompanying financial statements of SP PowerAssets Limited (the “Company”) which comprise the balance sheet as at 31 March 2022, the income statement, statement of comprehensive income, statement of changes in equity and statement of cash flows for the financial year then ended, and notes to the financial statements, including a summary of significant accounting policies. In our opinion, the accompanying financial statements 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 Company as at 31 March 2022 and of the financial performance, changes in equity and cash flows of the Company 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 Company 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. Key Audit Matters Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the financial statements of the current period. These matters were addressed in the context of our audit of the financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. For the matter below, our description of how our audit addressed the matter is provided in that context. We have fulfilled our responsibilities described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report, including in relation to the matter. Accordingly, our audit included the performance of procedures designed to respond to our assessment of the risks of material misstatement of the financial statements. The results of our audit procedures, including the procedures performed to SP PowerAssets Limited Independent auditor’s report Year ended 31 March 2022 5 address the matter below, provide the basis for our audit opinion on the accompanying financial statements. Goodwill impairment review The Company has recorded an asset of $2,166.8 million which represents goodwill on the acquisition of the transmission business as discussed in Note 6. The goodwill balance is reviewed annually for impairment based on fair value which is determined by discounting expected future cash flows as discussed in Note 6. The assessment of fair value requires significant management judgement in establishing future cash flows, the terminal value and the discount rate. Our audit procedures included assessing the key assumptions used in arriving at the fair value, including the terminal value, forecast future cash flows, and the discount rate. In performing our audit procedures, we assessed the reasonableness of cash flow projections by assessing the reliability of management’s budgeting process, the Company’s own historical data and performance and the impact of Covid-19 pandemic on market and economic conditions prevailing at the reporting date. In relation to other key inputs, such as the terminal value and discount rate, we compared these inputs to externally available industry, economic and financial data. We further reviewed the adequacy of the disclosure in the financial statements in Note 6 of the financial statements. 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. 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. SP PowerAssets Limited Independent auditor’s report Year ended 31 March 2022 6 In preparing the financial statements, management is responsible for assessing the Company’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 Company or to cease operations, or has no realistic alternative but to do so. The directors’ responsibilities include overseeing the Company’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 Company’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 Company’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 Company to cease to continue as a going concern. • 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. SP PowerAssets Limited Independent auditor’s report Year ended 31 March 2022 7 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. We also provide the directors with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards. From the matters communicated with the directors, we determine those matters that were of most significance in the audit of the financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication. 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 have been properly kept in accordance with the provisions of the Act. The engagement partner on the audit resulting in this independent auditor’s report is Philip Ling Soon Hwa. Ernst & Young LLP Public Accountants and Chartered Accountants Singapore 1 June 2022 SP PowerAssets Limited Financial statements Year ended 31 March 2022 8 Balance sheet As at 31 March 2022 Non-current assets Property, plant and equipment Intangible assets Derivative assets Current assets Inventories Trade and other receivables Current tax receivable Derivative assets Cash and cash equivalents Total assets Regulatory deferral accounts (“RDA”) debit balances Total assets and RDA debit balances Note 4 6 7 8 9 7 10 11 2022 $ million 10,647.7 2,169.3 124.6 12,941.6 34.8 340.0 − 55.6 0.2 430.6 13,372.2 223.2 13,595.4 2021 $ million 10,473.5 2,171.1 176.1 12,820.7 35.0 281.2 13.7 1.1 1.8 332.8 13,153.5 222.3 13,375.8 Equity Share capital Hedging reserve Accumulated profits Total equity 12 13 2,512.4 81.6 2,595.4 5,189.4 2,512.4 52.4 2,511.5 5,076.3 Non-current liabilities Debt obligations Derivative liabilities Deferred tax liabilities Deferred income Deferred construction cost compensation Lease liabilities 14 7 15 16 17 5 2,416.7 160.4 1,442.3 133.8 256.2 0.4 4,409.8 3,320.1 63.9 1,386.5 142.3 256.2 − 5,169.0 Current liabilities Debt obligations Derivative liabilities Current tax payable Trade and other payables Lease liabilities Total liabilities Total equity and liabilities Regulatory deferral accounts (“RDA”) related deferred tax liabilities Total equity, liabilities and RDA related deferred tax liabilities 14 7 18 5 11 777.8 5.2 50.6 3,121.3 3.4 3,958.3 8,368.1 13,557.5 37.9 13,595.4 − 4.4 − 3,088.3 − 3,092.7 8,261.7 13,338.0 37.8 13,375.8 The accompanying notes form an integral part of these financial statements. SP PowerAssets Limited Financial statements Year ended 31 March 2022 9 Income statement Year ended 31 March 2022 Note 2022 $ million 2021 $ million Revenue Other income Expenses - Depreciation of property, plant and equipment - Amortisation of intangible assets - Maintenance - Management fees - Property taxes - Agency fee - Support services - Other operating expenses Operating profit Finance income Finance costs Profit before taxation Tax expense Profit for the year Net movement in RDA balances related to profit or loss and the related deferred tax movement Profit for the year and net movement in RDA balances 19 20 4 6 21 22 23 24 11 1,660.4 73.3 (622.2) (2.8) (101.8) (153.9) (60.2) (27.6) (36.1) (54.3) 674.8 0.1 (135.8) 539.1 (100.7) 438.4 0.8 439.2 1,438.1 81.4 (591.7) (9.0) (96.2) (153.2) (60.4) (26.2) (33.4) (47.2) 502.2 # (132.3) 369.9 (68.7) 301.2 170.2 471.4 # Less than $0.1 million The accompanying notes form an integral part of these financial statements. SP PowerAssets Limited Financial statements Year ended 31 March 2022 10 Statement of comprehensive income Year ended 31 March 2022 2022 $ million 2021 $ million Profit for the year and net movement in RDA balances 439.2 471.4 Other comprehensive income Items that are or may be reclassified subsequently to profit or loss: Effective portion of changes in fair value of cash flow hedges, net of tax 31.7 24.2 Net change in fair value of: - Cash flow hedges reclassified to profit or loss, net of tax (2.6) 1.0 - Cash flow hedges on recognition of the hedged items on balance sheet, net of tax 0.1 (1.2) Other comprehensive income for the year, net of tax 29.2 24.0 Total comprehensive income for the year 468.4 495.4 The accompanying notes form an integral part of these financial statements. SP PowerAssets Limited Financial statements Year ended 31 March 2022 11 Statement of changes in equity Year ended 31 March 2022 Note Share capital $ million Hedging reserve $ million Accumulated profits $ million Total equity $ million At 1 April 2020 2,512.4 28.4 2,384.8 4,925.6 Total comprehensive income for the year Profit for the year and net movement in RDA balances − − 471.4 471.4 Other comprehensive income Effective portion of changes in fair value of cash flow hedges, net of tax − 24.2 − 24.2 Net change in fair value of: - Cash flow hedges reclassified to profit or loss, net of tax − 1.0 − 1.0 - Cash flow hedges on recognition of the hedged items on balance sheet, net of tax − (1.2) − (1.2) Total other comprehensive income Total comprehensive income for the year − 24.0 471.4 495.4 − 24.0 − 24.0 Transaction with owner, recognised directly in equity Contributions by and distribution to owner Dividends declared 29 − − (344.7) (344.7) At 31 March 2021 2,512.4 52.4 2,511.5 5,076.3 The accompanying notes form an integral part of these financial statements. SP PowerAssets Limited Financial statements Year ended 31 March 2022 12 Statement of changes in equity Year ended 31 March 2022 (cont'd) Note Share capital $ million Hedging reserve $ million Accumulated profits $ million Total equity $ million At 1 April 2021 2,512.4 52.4 2,511.5 5,076.3 Total comprehensive income for the year Profit for the year and net movement in RDA balances − − 439.2 439.2 Other comprehensive income Effective portion of changes in fair value of cash flow hedges, net of tax − 31.7 − 31.7 Net change in fair value of: - Cash flow hedges reclassified to profit or loss, net of tax − (2.6) − (2.6) - Cash flow hedges on recognition of the hedged items on balance sheet, net of tax − 0.1 − 0.1 Total other comprehensive income − 29.2 − 29.2 Total comprehensive income for the year − 29.2 439.2 468.4 Transaction with owner, recognised directly in equity Contributions by and distribution to owner Dividends declared At 31 March 2022 29 − − (355.3) (355.3) 2,512.4 81.6 2,595.4 5,189.4 The accompanying notes form an integral part of these financial statements. SP PowerAssets Limited Financial statements Year ended 31 March 2022 13 Statement of cash flows Year ended 31 March 2022 2022 $ million 2021 $ million Cash flows from operating activities Profit for the year and net movement in RDA balances 439.2 471.4 Adjustments for: Tax expense 23 100.7 68.7 Depreciation and amortisation 625.0 600.7 Loss on disposal of property, plant and equipment and intangible assets 24 4.0 0.6 Deferred income 16 (8.8) (8.7) Inventories written down, net 8 4.3 5.3 (Write-back of allowance) / allowance for expected credit loss on trade receivables, net 9 (2.3) 7.5 Finance income 21 (0.1) # Finance costs 22 135.8 132.3 Exchange gain, net 24 (0.3) (0.2) Net movements in RDA balances related to profit or loss and the related deferred tax movement 11 (0.8) (170.2) 1,107.4 Changes in working capital: Inventories (4.1) (0.7) Trade and other receivables (56.8) (37.0) Trade and other payables 76.0 (6.2) Cash generated from operations 1,311.8 1,063.5 Interest received 0.1 # Income tax refunded / (paid) 13.4 (10.0) Net cash generated from operating activities 1,325.3 1,053.5 Cash flows from investing activities Purchase of property, plant and equipment (860.6) (832.0) Purchase of intangible assets (1.0) (0.9) Proceeds from disposal of property, plant and equipment and intangible assets 6.2 5.5 Net cash used in investing activities (855.4) (827.4) Note 1,296.7 Cash flows from financing activities Interest paid (56.6) (85.9) Commitment fees paid (0.1) (1.5) Repayment of related company loans (411.5) (129.9) Payment of principal portion of lease liabilities 5 (3.3) (7.0) Net cash used in financing activities (471.5) (224.3) Net (decrease) / increase in cash and cash equivalents Cash and cash equivalents at beginning of the year (1.6) 1.8 1.8 – Cash and cash equivalents at end of the year 10 0.2 1.8 # Less than $0.1 million During the financial year, tax-exempt dividend declared to the immediate holding company in relation to the financial year ended 31 March 2021 of $355.3 million (2021: $344.7 million) were settled via loans from a related company. In 2021, the Company repaid two of its bonds amounting to $780.0 million. The amounts were settled via loans from a related company. The accompanying notes form an integral part of these financial statements. SP PowerAssets Limited Financial statements Year ended 31 March 2022 14 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 1 June 2022. 1 Domicile and activities SP PowerAssets 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 principal activities of the Company are those relating to the provision of services in connection with the transmission and distribution of electricity. The immediate and ultimate holding companies are Singapore Power Limited and Temasek Holdings (Private) Limited respectively. Both companies are incorporated in the Republic of Singapore. 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 2.4 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 The financial statements are presented in Singapore dollars, which is the Company’s functional currency. All financial information presented in Singapore dollars has been rounded to the nearest 0.1 million, unless otherwise stated. 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: SP PowerAssets Limited Financial statements Year ended 31 March 2022 15 Impairment of goodwill and indefinite-lived intangible assets Impairment reviews in respect of goodwill and intangible assets are performed at least annually. More regular reviews are performed if changes in circumstances or the occurrence of events indicate potential impairment. The Company uses the present value of future cash flows to determine the recoverable amounts of the cash generating units. 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. Details of key assumptions made are set out in Note 6. 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 3.14) 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 and volume of electricity delivered to consumers. Note 3.12 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 Company 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 Company 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 Company applies the following reliefs as and when uncertainty arising from the 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 Company 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 Notes 3.4 and 26. There was no significant financial impact to the Company as a result of these amendments. SP PowerAssets Limited Financial statements Year ended 31 March 2022 16 3 3.1 Significant accounting policies 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 Company, which addresses changes in accounting policies due to the adoption of new and revised standards. Foreign currencies Foreign currency transactions Transactions in foreign currencies are translated to the functional currency of the Company at the exchange rate at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies at the reporting date are translated to the functional currency 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 translated to the functional currency at the exchange rate prevailing on the date 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 qualifying cash flow hedges, which are recognised in other comprehensive income. 3.2 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, 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. SP PowerAssets Limited Financial statements Year ended 31 March 2022 17 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 Company, and its cost can be measured reliably. The carrying amount of the replaced component is derecognised. The costs of the day-to-day servicing of property, plant and equipment are recognised in profit or loss as incurred. 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 Transformers and switchgear Other plant and machinery - Works and other equipment - Standby electricity generator and other machinery Mains Other fixed assets (principally meters and motor vehicles) Over the term of the lease ranging from 30 to 99 years 30 to 40 years or the lease term, if shorter 30 years 3 to 10 years 15 to 25 years 30 years 3 to 10 years Depreciation methods, useful lives and residual values are reviewed at each financial year end and adjusted if appropriate. 3.3 Intangible assets Goodwill Goodwill arising from acquisition represents the excess of the cost of acquisition over the fair value of identifiable net assets acquired. Subsequent measurement Goodwill is measured at cost less accumulated impairment losses and is tested for impairment on an annual basis as described in Note 3.5. SP PowerAssets Limited Financial statements Year ended 31 March 2022 18 Other intangible assets Deferred expenditure relates mainly to contributions paid by the Company in accordance with regulatory requirements towards capital expenditure costs incurred by electricity generation companies, 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 Company derives benefits from the capital contribution payments, which is generally the useful life of the relevant equipment ranging from 7 to 19 years. Computer 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 5 years. Computer software development in-progress is stated at cost. No amortisation is provided until it is ready for use. 3.4 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 Company 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 Company 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 Company’s business model for managing the asset and the contractual cash flow characteristics of the asset. 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 derecognised or impaired, and through the amortisation process. SP PowerAssets Limited Financial statements Year ended 31 March 2022 19 Derecognition The Company derecognises 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 Company 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 Company becomes a party to the contractual provisions of the financial instrument. The Company 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 as 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 derecognised, 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. Derecognition A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. On derecognition, 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 sheet when, and only when, the Company 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. SP PowerAssets Limited Financial statements Year ended 31 March 2022 20 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 Company 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 Company designates certain derivatives and non-derivative financial instruments as hedging instruments in qualifying hedging relationships. At inception of designated hedging relationships, the Company documents the risk management objective and strategy for undertaking the hedge. The Company 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 Company 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 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. SP PowerAssets Limited Financial statements Year ended 31 March 2022 21 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 Company 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 Company 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 Company 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 Company 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. For its highly probable assessment of the hedged item, the Company 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 Company 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. SP PowerAssets Limited Financial statements Year ended 31 March 2022 22 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 Company 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 Company 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 Company 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 Company 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 Company deems that the hedging reserve recognised in other comprehensive income for the hedging relationship is based on the alternative benchmark rate on which the hedged future cash flows will be based. 3.5 Impairment Non-derivative financial assets The Company 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 Company 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). SP PowerAssets Limited Financial statements Year ended 31 March 2022 23 For trade receivables and contract assets, the Company applies a simplified approach in calculating ECLs. Therefore, the Company does not track changes in credit risk, but instead recognises a loss allowance based on lifetime ECLs at each reporting date. The Company 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. The Company considers a financial asset potentially in default when contractual payments are 180 days past due. However, in certain cases, the Company may also consider a financial asset to be in default when internal or external information indicates that the Company is unlikely to receive the outstanding contractual amounts in full before taking into account any credit enhancements held by the Company. A financial asset is written off when there is no reasonable expectation of recovering the contractual cash flows. Non-financial assets The carrying amounts of the Company’s non-financial assets, other than inventories and deferred tax assets, are reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication exists, the asset’s recoverable amount is estimated. For goodwill and intangible assets that have indefinite useful lives or that are not yet available for use, recoverable amount is estimated each year at the same time. An impairment loss is recognised if the carrying amount of an asset or its related cash-generating unit (“CGU”) exceeds its estimated recoverable amount. The recoverable amount of an asset or CGU is the greater of its value in use and its fair value less costs to sell. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset or CGU. For the purpose of impairment testing, assets that cannot be tested individually are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or CGU. Subject to an operating segment ceiling test, for the purposes of goodwill impairment testing, CGUs to which goodwill has been allocated are aggregated so that the level at which impairment testing is performed reflects the lowest level at which goodwill is monitored for internal reporting purposes. Impairment losses are recognised in profit or loss. Impairment losses recognised in respect of CGUs are allocated first to reduce the carrying amount of any goodwill allocated to the CGU (group of CGUs), and then to reduce the carrying amounts of the other assets in the CGU (group of CGUs) on a pro rata basis. An impairment loss in respect of goodwill is not reversed. In respect of other assets, impairment losses recognised in prior periods are assessed at each reporting date for any indications that the loss has decreased or no longer exists. An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount. An impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortisation, if no impairment loss had been recognised. Such reversal of impairment is recognised in profit or loss. SP PowerAssets Limited Financial statements Year ended 31 March 2022 24 3.6 Inventories Inventories are measured at the lower of cost and net realisable value. Cost is determined based on the weighted average method, and includes expenditure in acquiring the inventories and other costs incurred in bringing them to their existing location and condition. Cost may also include transfers from other comprehensive income of any gain or loss on qualifying cash flow hedges of foreign currency purchases of inventories. Allowance for obsolete, deteriorated or damaged stocks is made when considered appropriate. 3.7 Accrued revenue Revenue accrual estimates are made to account for the unbilled amount at the reporting date. 3.8 Provisions A provision is recognised if, as a result of past event, the Company has a present legal or constructive obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are determined by discounting the expected cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised as finance cost. 3.9 Government grants Capital grants are recognised on a straight-line basis and taken to profit or loss over the periods necessary to match the depreciation of the assets purchased with the government grants. Operating grants are presented within other income and are taken to profit or loss on a systematic basis in the same periods in which the expenses are incurred. 3.10 Deferred construction cost compensation Deferred construction cost compensation received to defray costs relating to the construction of an asset are accounted for as a government grant. Note 3.9 sets out the government grant accounting policy. 3.11 Deferred income Deferred income comprises (i) government grant for the purchase of depreciable assets and (ii) contributions made by certain customers towards the cost of capital projects received prior to 1 July 2009. Government grants and customer contributions Deferred income is recognised on a straight-line basis and taken to profit or loss over the periods necessary to match the depreciation of the assets purchased with the customers’ contributions and government grant. SP PowerAssets Limited Financial statements Year ended 31 March 2022 25 3.12 Regulatory deferral account (“RDA”) debit or credit balances Use of system charges Regulatory deferral account debit or credit balances represent timing differences between revenue recognised for financial reporting purposes and revenue earned for regulatory purposes. Movements in the regulatory deferral account debit or credit balances are recognised in profit or loss over the periods necessary to adjust revenue recognised for financial reporting purposes to revenue earned for regulatory purposes based on services rendered. At the end of each regulatory period, adjustments for amounts to be recovered or refunded are taken to profit or loss as net movement in regulatory deferral account balances. 3.13 Price regulation and licence The Company’s operations in Singapore are regulated under the Electricity Licence for Transmission Licensee issued by the EMA of Singapore. Allowed revenue to be earned from the transmission of electricity is regulated based on certain formulae and parameters set out in the licence, relevant acts and codes. Revenue recognised for financial reporting purposes may differ from revenue earned for regulatory purposes due to volume variances. This may result in adjustments that may increase or decrease tariffs in succeeding periods. Amounts to be recovered or refunded are brought to account as adjustments to net movement in regulatory deferral account debit or credit balances in the income statement in the period in which the Company becomes entitled to the recovery or liable for the refund. The Company’s capital expenditure may differ from its regulatory plan and is subject to a review by the EMA. The results of the variances in capital expenditure may be translated into price adjustments, if any, in the following reset period. The use of system charges are approved by the EMA for a 5-year regulatory period in accordance with the price regulation framework. 3.14 Revenue recognition Revenue is measured based on the consideration to which the Company expects to be entitled in exchange for transferring promised services to a customer, excluding amounts collected on behalf of third parties. Revenue is recognised when the Company satisfies a performance obligation by transferring the promised service to the customer, which is when the customer obtains control of the service. A performance obligation may be satisfied at a point in time or over time. The amount of revenue recognised is the amount allocated to the satisfied performance obligation. Use of system charges Revenue for financial reporting purposes is recognised over time based on tariff billings to customers when the volume of electricity is delivered. SP PowerAssets Limited Financial statements Year ended 31 March 2022 26 3.15 Leases The Company assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. As lessor Leases in which the Company does not transfer substantially all the risks and rewards of ownership of the asset are classified as operating leases. Initial direct costs incurred in negotiating an operating lease are added to the carrying amount of the leased asset and recognised over the lease term. Rental income under operating leases are recognised in profit or loss over the term of the lease. As lessee The Company applies a single recognition and measurement approach for all leases, except for short-term leases and leases of low-value assets. The Company recognises lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying assets. (i) Right-of-use assets The Company recognises right-of-use assets at the commencement or on modification date of the lease (i.e., the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognised, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the assets. If ownership of the leased asset transfers to the Company at the end of the lease term or the cost reflects the exercise of a purchase option, depreciation is calculated using the estimated useful life of the asset. The right-of-use assets are also subject to impairment. Refer to Note 3.5 for the accounting policy. (ii) Lease liabilities At the commencement date of the lease, the Company recognises lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including in-substance fixed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Company and payments of penalties for terminating the lease, if the lease term reflects the Company exercising the option to terminate. SP PowerAssets Limited Financial statements Year ended 31 March 2022 27 Variable lease payments that do not depend on an index or a rate are recognised as expenses (unless they are incurred to produce inventories) in the period in which the event or condition that triggers the payment occurs. In calculating the present value of lease payments, the Company uses its incremental borrowing rate at the lease commencement date because the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an index or rate used to determine such lease payments) or a change in the assessment of an option to purchase the underlying asset. (iii) Short-term leases The Company applies the short-term lease recognition exemption to its short-term leases of leasehold land (i.e., those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). Lease payments on short-term leases are recognised as expense on a straight-line basis over the lease term. 3.16 Finance income and costs Finance income comprises interest income on funds invested. Interest income is recognised as it accrues, using the effective interest method. Finance costs comprise interest expense on borrowings, unwinding of the discount on provisions, fair value gains or losses on financial assets and liabilities at fair value through profit or loss, impairment losses recognised on financial assets (other than trade receivables), gains or losses on hedging instruments that are recognised in profit or loss, amortisation of transaction costs capitalised and interest expense on lease liabilities. Borrowing costs that are not directly attributable to the acquisition, construction or production of a qualifying asset are recognised in profit or loss using the effective interest method. 3.17 Tax expense Tax expense comprises current and deferred tax. Current and deferred taxes are recognised in profit or loss except to the extent that it relates to items recognised directly in equity or in the other comprehensive income. Current tax is the expected tax payable or receivable on the taxable income for the year, using tax rates enacted or substantively enacted at the reporting date, and any adjustment to tax payable in respect of previous years. SP PowerAssets Limited Financial statements Year ended 31 March 2022 28 Deferred tax is recognised in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax is not recognised for: • temporary differences on the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss; and • taxable temporary differences arising on the initial recognition of goodwill. Deferred tax is measured at the tax rates that are expected to be applied to the temporary differences when they reverse, based on the laws that have been enacted or substantively enacted by the reporting date. A deferred tax asset is recognised for unused tax losses, tax credits and deductible temporary differences, to the extent that it is probable that future taxable profits will be available against which they can be utilised. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realised. In determining the amount of current and deferred tax, the Company takes into account the impact of uncertain tax positions and whether additional taxes and interest may be due. The Company believes that its accruals for tax liabilities are adequate for all open tax years based on its assessment of many factors, including interpretations of tax law and prior experience. This assessment relies on estimates and assumptions and may involve a series of judgements about future events. New information may become available that causes the Company to change its judgement regarding the adequacy of existing tax liabilities; such changes to tax liabilities will impact tax expense in the period that such a determination is made. The movement in a deferred tax asset or liability that arises from the temporary differences created as a result of recognising regulatory deferral account balances are presented in the income statement net of the movement in regulatory deferral account balances related to profit or loss. 3.18 Segment reporting The Company determines and presents operating segments based on the information that is provided internally to the chief operating decision maker. The Company has only one operating segment – electricity transmission and distribution, and hence no separate disclosures are made in the financial statements. SP PowerAssets Limited Financial statements Year ended 31 March 2022 29 3.19 New standards and interpretations not yet adopted A number of new amendments to standards that are effective for annual periods beginning after 1 April 2021 have not been applied in preparing these financial statements. The following amended standards are not expected to have a significant impact on the Company’s financial statements: • Amendments to SFRS(I) 1-37: Onerous Contracts—Cost of Fulfilling a Contract • Amendments to SFRS(I) 1-1 and SFRS(I) Practice Statement 2: Disclosure of Accounting Policies • Amendments to SFRS(I) 1-8: Definition of Accounting Estimates • Amendments to SFRS(I) 1-12: Deferred Tax related to Assets and Liabilities arising from a Single Transaction SP PowerAssets Limited Financial statements Year ended 31 March 2022 30 4 Property, plant and equipment Cost At 1 April 2020 Additions Disposals Transfers from intangible assets Reclassification At 31 March 2021 Additions Disposals Reclassification At 31 March 2022 Accumulated depreciation At 1 April 2020 Depreciation Disposals At 31 March 2021 Depreciation Disposals At 31 March 2022 Carrying amounts At 31 March 2021 At 31 March 2022 Freehold land $ million Leasehold land $ million Buildings and tunnels $ million Switchgear $ million Transformers $ million Other plant and machinery $ million Mains $ million Other fixed assets $ million Constructionin-progress $ million Total $ million 0.3 500.8 1,652.6 3,262.1 1,725.5 453.3 6,123.4 219.7 2,234.6 16,172.3 − − − 1.0 − 2.2 − 16.0 808.9 828.1 − − − (39.9) (10.9) (14.1) (0.5) (6.0) − (71.4) − − − − − − − − 0.7 0.7 − 3.6 39.8 127.8 125.7 38.4 1,130.4 26.0 (1,491.7) − 0.3 504.4 1,692.4 3,351.0 1,840.3 479.8 7,253.3 255.7 1,552.5 16,929.7 − − 7.2 1.2 − 3.2 − 19.6 775.4 806.6 − − (0.1) (30.1) (30.4) (7.0) (106.7) (9.3) (3.2) (186.8) − (0.4) 154.8 123.8 86.9 27.7 308.0 9.0 (709.8) − 0.3 504.0 1,854.3 3,445.9 1,896.8 503.7 7,454.6 275.0 1,614.9 17,549.5 − 162.8 626.1 1,615.0 626.3 265.1 2,530.3 105.1 − 5,930.7 − 9.9 56.1 144.4 65.7 40.7 248.8 26.1 − 591.7 − − − (37.3) (8.6) (14.1) (0.5) (5.7) − (66.2) − 172.7 682.2 1,722.1 683.4 291.7 2,778.6 125.5 − 6,456.2 − 10.1 61.9 148.8 67.7 43.6 255.7 34.4 − 622.2 − − (0.1) (26.2) (27.9) (6.9) (106.7) (8.8) − (176.6) − 182.8 744.0 1,844.7 723.2 328.4 2,927.6 151.1 − 6,901.8 0.3 331.7 1,010.2 1,628.9 1,156.9 188.1 4,474.7 130.2 1,552.5 10,473.5 0.3 321.2 1,110.3 1,601.2 1,173.6 175.3 4,527.0 123.9 1,614.9 10,647.7 SP PowerAssets Limited Financial statements Year ended 31 March 2022 31 Expenses capitalised The following expenses were capitalised in property, plant and equipment during the year: Management fees (staff cost) 2022 $ million 78.8 2021 $ million 76.1 As at 31 March 2022, property, plant and equipment includes right-of-use assets of $325.0 million (2021: $331.7 million) relating to leasehold land, building and office under leasing arrangements. Details are presented in Note 5. 5 Right-of-use assets / Lease liabilities Set out below are the carrying amounts of right-of-use assets recognised within property, plant and equipment and the movements during the year: Leasehold land $ million Buildings and tunnels $ million Total $ million At 1 April 2020 Additions Depreciation At 31 March 2021 Additions Reclassification Depreciation At 31 March 2022 338.0 3.6 (9.9) 331.7 − (0.4) (10.1) 321.2 3.5 − (3.5) − 7.2 − (3.4) 3.8 341.5 3.6 (13.4) 331.7 7.2 (0.4) (13.5) 325.0 Set out below are the carrying amounts of lease liabilities (included under trade and other payables) and the movements during the year: At 1 April Additions Accretion of interest Payments At 31 March Current Non-current # Less than $0.1 million 2022 $ million − 7.1 0.1 (3.4) 3.8 3.4 0.4 2021 $ million 7.1 − # (7.1) − − − The maturity analysis of lease liabilities is disclosed in Note 26. SP PowerAssets Limited Financial statements Year ended 31 March 2022 32 The following are the amounts recognised in profit or loss: Depreciation expense of right-of-use assets Interest expense on lease liabilities Expenses relating to short-term leases (included in other operating expenses) 2022 $ million 13.5 0.1 1.7 15.3 2021 $ million 13.4 − 2.2 15.6 The Company had total cash outflow for leases of $5.1 million (2021: $9.3 million) for the financial year ended 31 March 2022. 6 Intangible assets Goodwill on acquisition $ million Deferred expenditure $ million Computer software $ million Computer software development in-progress $ million Total $ million Cost At 1 April 2020 Additions Disposals Transfers to property, plant and equipment Reclassification At 31 March 2021 Additions Disposals Reclassification At 31 March 2022 2,166.8 109.4 46.4 1.9 2,324.5 − 0.8 − 0.1 0.9 − − (7.6) − (7.6) − − − (0.7) (0.7) − − 0.3 (0.3) − 2,166.8 110.2 39.1 1.0 2,317.1 − 1.0 − − 1.0 − (0.3) − − (0.3) − − 0.9 (0.9) − 2,166.8 110.9 40.0 0.1 2,317.8 Accumulated amortisation At 1 April 2020 Amortisation Disposals At 31 March 2021 Amortisation Disposals At 31 March 2022 − 102.9 40.8 − 143.7 − 4.6 4.4 − 9.0 − − (6.7) − (6.7) − 107.5 38.5 − 146.0 − 2.4 0.4 − 2.8 − (0.3) − − (0.3) − 109.6 38.9 − 148.5 Carrying amounts At 31 March 2021 At 31 March 2022 2,166.8 2.7 0.6 1.0 2,171.1 2,166.8 1.3 1.1 0.1 2,169.3 SP PowerAssets Limited Financial statements Year ended 31 March 2022 33 Impairment test for goodwill The Company as a whole is considered a CGU. The recoverable amount of the CGU is based on the higher of fair value less costs to sell and value in use. The recoverable amount of the CGU is determined to be higher than its carrying amount hence no impairment is necessary. Fair value is determined by discounting future cash flows generated from the continuing use of the CGU and is based on the following key assumptions: 1. Cash flows are projected based on a 5-year business plan. 2. Cash flows are discounted using a pre-tax discount rate of 6.28% (2021: 5.23%) per annumthat reflects current market assessments of the time value of money and risks specific to the CGU. 3. Terminal value is calculated based on a multiple of 1.3 times (2021: 1.2 times) of the carrying amounts of property, plant and equipment. SP PowerAssets Limited Financial statements Year ended 31 March 2022 34 7 Derivative assets and liabilities Current: Cross-currency interest rate swaps Interest rate swaps Foreign exchange forwards Outstanding notional amounts $ million 623.8 200.0 224.0 2022 2021 Assets $ million Liabilities $ million Outstanding notional amounts $ million Assets $ million Liabilities $ million 53.6 − − − − 1.1 − 1,285.6 − (1.1) 0.9 (5.2) 215.4 1.1 (3.3) 55.6 (5.2) 1.1 (4.4) Non-current: Cross-currency interest rate swaps 2,149.1 − (160.4) 2,772.9 116.0 (62.5) Interest rate swaps 2,599.1 124.6 − 2,799.1 59.6 − Foreign exchange forwards 1.2 − # 58.8 0.5 (1.4) 124.6 (160.4) 176.1 (63.9) # Less than $0.1 million SP PowerAssets Limited Financial statements Year ended 31 March 2022 35 Offsetting financial assets and financial liabilities The Company’s derivative transactions are entered into under International Swaps and Derivatives Association (“ISDA”) Master Agreements. The ISDA agreements create a right of set-off of recognised amounts that is enforceable only following an event of default, insolvency or bankruptcy of the Company or the counterparties. As such, these agreements do not meet the criteria for offsetting under SFRS(I) 1-32 Financial Instruments: Presentation. The Company and its counterparties do not intend to settle on a net basis or to realise the assets and settle the liabilities simultaneously but have the right to set off in the case of default and insolvency or bankruptcy. The Company’s financial assets and liabilities subject to an enforceable master netting arrangement that are not otherwise set-off are as follows: Types of financial assets 2022 Derivative assets 2021 Derivative assets Gross amounts of recognised financial assets $ million Related amounts not offset in the balance sheet – financial instruments $ million Net amounts $ million 180.2 (108.9) 71.3 177.2 (20.8) 156.4 Types of financial liabilities 2022 Gross amounts of recognised financial liabilities $ million Related amounts not offset in the balance sheet – financial instruments $ million Net amounts $ million Derivative assets 2021 Derivative assets 165.6 (108.9) 56.7 68.3 (20.8) 47.5 SP PowerAssets Limited Financial statements Year ended 31 March 2022 36 Hedge Accounting As at 31 March 2022 and 2021, the Company held various types of derivative financial instruments and formally designated a portion of them in cash flow and fair value hedge relationships for accounting purposes, in accordance with the requirements of SFRS(I) 9. The following table summarises the derivative financial instruments in the balance sheet and the effects of hedge accounting on the Company’s financial position and performance. Hedge instrument Hedged item Changes in fair value used for calculating hedge ineffectiveness Outstanding notional amounts $ million Assets / (liabilities) $ million Carrying amount of Assets / (liabilities) $ million Financial statement line that includes the hedged item Accumulated amount of fair value adjustments $ million Hedging instrument $ million Hedged item $ million Hedge ineffectiveness recognised in profit or loss $ million Hedge rates Maturity (Year) 2022 Cash flow hedge Interest rate risk – Finance cost 5,197.0 158.0 − − − 52.4 (52.4) − 0.2780% - 2.3450% Up to 2027 Foreign exchange risk - Refer to Note 26 under Foreign currency risk 225.2 (4.3) − − − 3.6 (3.6) − CHF/SGD: 1.397 - 1.501 CNY/SGD: 0.187 - 0.196 EUR/SGD: 1.537 - 1.656 JPY/SGD: 0.011 - 0.013 MYR/SGD: 3.031 USD/SGD: 1.334 - 1.382 Up to 2022 Up to 2023 Up to 2024 Up to 2023 Up to 2022 Up to 2022 Fair value hedge Interest rate risk 375.0 6.0 (281.7) Debt obligations (7.1) (13.8) 14.0 0.2 6 month SOR/SORA Up to 2029 Foreign exchange risk 2,149.1 (145.1) (1,986.5) Debt obligations 156.5 (113.1) 108.6 (4.5) Refer to footnotes of Note 14 Up to 2027 SP PowerAssets Limited Financial statements Year ended 31 March 2022 37 Hedge instrument Hedged item Changes in fair value used for calculating hedge ineffectiveness Outstanding notional amounts $ million Assets / (liabilities) $ million Carrying amount of Assets / (liabilities) $ million Financial statement line that includes the hedged item Accumulated amount of fair value adjustments $ million Hedging instrument $ million Hedged item $ million Hedge ineffectiveness recognised in profit or loss $ million Hedge rates Maturity (Year) 2021 Cash flow hedge Interest rate risk – Finance cost 6,482.6 114.5 − − − 37.0 (38.6) (1.6) 0.2780% - 2.3450% Up to 2027 Foreign exchange risk - Refer to Note 26 under Foreign currency risk 274.2 (3.1) − − − (6.9) 6.9 − CHF/SGD: 1.397 CNY/SGD: 0.187 - 0.199 EUR/SGD: 1.537 - 1.656 JPY/SGD: 0.011 - 0.013 MYR/SGD: 3.028 - 3.040 USD/SGD: 1.334 - 1.425 Up to 2021 Up to 2023 Up to 2024 Up to 2023 Up to 2021 Up to 2022 Fair value hedge Interest rate risk 375.0 19.8 (295.6) Debt obligations (21.1) (6.4) 7.0 0.6 6 month SOR Up to 2029 Foreign exchange risk 2,149.1 (22.3) (2,103.6) Debt obligations 38.2 (92.5) 98.5 6.0 Refer to footnotes of Note 14 Up to 2027 SP PowerAssets Limited Financial statements Year ended 31 March 2022 38 8 Inventories 2022 $ million 2021 $ million Cables Transformers Switchgear Spare parts and accessories 24.6 1.6 7.4 1.2 34.8 24.8 3.2 4.7 2.3 35.0 In the financial year ended 31 March 2022, inventories recognised as an expense in the income statement amounted to $4.2 million (2021: $4.5 million). The write-down of inventories to net realisable value amounted to $4.3 million (2021: $5.3 million). The utilization of inventory obsolescence provision upon sale of the inventory items amounted to $3.1 million (2021: $2.1 million). 9 Trade and other receivables 2022 $ million 2021 $ million Trade receivables: - Third parties - Related companies - Immediate holding company Impairment loss Accrued revenue Deposits Prepayments 123.9 63.5 0.1 187.5 (6.5) 181.0 117.6 0.4 299.0 41.0 119.3 38.9 0.3 158.5 (8.8) 149.7 101.7 0.3 251.7 29.5 340.0 281.2 Trade receivables The average credit term is between 8 to 30 calendar days (2021: between 7 to 30 calendar days). Collateral in the form of bank guarantees and deposits are obtained from counterparties where appropriate. There were no amounts called upon during the year. SP PowerAssets Limited Financial statements Year ended 31 March 2022 39 The maximum exposure to credit risk for trade receivables at the reporting date by types of customer is as follows: Contestable transmission / distribution customers Non-contestable transmission / distribution customers Project-based customers Others 2022 $ million 133.0 22.9 22.3 2.8 181.0 2021 $ million 103.2 6.2 36.7 3.6 149.7 The Company provides for lifetime expected credit losses for all trade receivables using a provision matrix. The provision rates are determined based on the evaluation of collectability and ageing analysis of trade receivables and on the estimation of the management. A considerable amount of estimation is required in assessing the ultimate realisation of these receivables, including the current creditworthiness and the past collection history of each customer. The Company categorises trade receivables for potential write-off on the overdue trade receivables of customers that have failed to make contractual payments for more than 180 days. Where trade receivables have been impaired or written off, the Company continues to engage enforcement activity to attempt to recover the receivable due. Where recoveries are made, these are recognised in profit or loss. The maximum exposure to credit risk for trade receivables by geographic region, relates mainly to Singapore at the reporting date. There is no significant concentration of credit risk of trade receivables. The Company has policies in place to monitor its credit risk. Contractual deposits are collected and sufficient collaterals are obtained to mitigate the risk of financial loss from defaults. The Company’s customers are spread across diverse industries and ongoing credit evaluation is performed on the financial condition of receivables to ensure minimal exposure to bad debts. The ageing of trade receivables at the reporting date is as follows: Not past due Past due 0 - 30 days Past due 31 - 90 days Past due 91 - 180 days Past due more than 180 days 2022 $ million 167.7 5.3 2.9 0.6 11.0 187.5 2021 $ million 134.3 1.4 5.2 2.2 15.4 158.5 SP PowerAssets Limited Financial statements Year ended 31 March 2022 40 Expected credit losses The movement in allowance for expected credit losses of trade receivables computed based on lifetime ECL are as follows: At 1 April Impairment loss recognised Impairment loss written back At 31 March 2022 $ million 8.8 − (2.3) 6.5 2021 $ million 1.3 9.0 (1.5) 8.8 Trade and other receivables are denominated predominantly in the functional currency of the Company. 10 Cash and cash equivalents 2022 $ million 2021 $ million Cash at bank and in hand 0.2 1.8 As at reporting date, cash and cash equivalents are denominated in the functional currency of the Company. 11 Regulatory deferral accounts Net movement in RDA balances related to profit or loss RDA related deferred tax movement Net movement in RDA balances related to profit or loss and the related deferred tax movement 2022 $ million 0.9 (0.1) 0.8 2021 $ million 205.1 (34.9) 170.2 SP PowerAssets Limited Financial statements Year ended 31 March 2022 41 RDA debit balances At 1 April 2021 $ million Balances arising in the period $ million (Recovery) / reversal $ million At 31 March 2022 $ million Deferral of revenue based on service rendered 256.9 106.4 (49.3) 314.0 Under recovery of volume variance (34.6) (78.6) 22.4 (90.8) 222.3 27.8 (26.9) 223.2 RDA related deferred tax liabilities RDA related deferred tax liabilities (37.8) (4.7) 4.6 (37.9) RDA debit balances Deferral of revenue based on service rendered Under recovery of volume variance RDA related deferred tax liabilities RDA related deferred tax liabilities At 1 April 2020 $ million Balances arising in the period $ million (Recovery) / reversal $ million At 31 March 2021 $ million (38.6) 266.7 28.8 256.9 55.8 1.5 (91.9) (34.6) 17.2 268.2 (63.1) 222.3 (2.9) (45.6) 10.7 (37.8) The recovery / reversal period of RDA debit and credit balances are directed by EMA. The Company is currently the sole electricity transmission and distribution company in Singapore. The EMA may not terminate the Company’s Transmission Licence except by giving 25 years’ notice, or otherwise revoking the Transmission Licence in accordance with the Electricity Act (including where the EMA is satisfied that the Company has gone into compulsory liquidation or voluntary liquidation other than for the purpose of amalgamation or reconstruction, or the public interest or security of Singapore requires). The Company therefore considers the exposure on recovery of regulatory deferral debit balances to be minimal. SP PowerAssets Limited Financial statements Year ended 31 March 2022 42 12 Share capital 2022 No. of shares $ million 2021 No. of shares $ million Ordinary shares Issued and fully-paid, with no par value At 1 April and 31 March 2,512.4 2,512.4 The holder of ordinary shares is entitled to receive dividends as declared from time to time and is entitled to one vote per share at meetings of the Company. All shares rank equally with regard to the Company’s residual assets. 13 Hedging reserve The hedging reserve comprises the effective portion of the cumulative net changein the fair value of cash flow hedging instruments related to highly probable forecast transactions. Hedging reserves At beginning of year Effective portion of changes in fair value of cash flow hedges: - Interest rate risks - Foreign exchange risks Net change in fair value of cash flow hedges reclassified to profit or loss, net of tax: - Interest rate risks Net change in fair value of cash flow hedges, on recognition of the hedged items on balance sheet, net of tax: - Foreign exchange risks 2022 $ million 52.4 34.8 (3.1) (2.6) 0.1 2021 $ million 28.4 28.7 (4.5) 1.0 (1.2) At end of year 81.6 52.4 SP PowerAssets Limited Financial statements Year ended 31 March 2022 43 14 Debt obligations Principal amount Date of maturity 2022 $ million 2021 $ million Fixed rate notes SGD 100 million USD 500 million (1) JPY 15 billion (2) SGD 75 million USD 700 million [3] JPY 7 billion (4) USD 600 million (5) SGD 100 million SGD 250 million August 2022 September 2022 April 2024 May 2024 November 2025 October 2026 September 2027 May 2029 September 2032 100.7 677.1 162.7 77.3 937.7 78.2 807.8 103.7 249.3 103.5 671.7 182.4 81.0 987.7 87.3 846.2 111.1 249.2 3,194.5 3,320.1 (1) USD 500 million swapped to SGD 623.8 million (2) JPY 15 billion swapped to SGD 230.0 million (3) USD 700 million swapped to SGD 996.0 million (4) JPY 7 billion swapped to SGD 114.7 million (5) USD 600 million swapped to SGD 808.5 million The debt obligations are on bullet repayment terms. Interest rates on debt obligations denominated in Singapore dollars range from 3.14% to 5.07% (2021: 3.14% to 5.07%) per annum. Interest rates on foreign currency debt obligations range from 1.95% to 3.25% (2021: 1.95% to 3.25%) per annum. SP PowerAssets Limited Financial statements Year ended 31 March 2022 44 A reconciliation of liabilities arising from financing activities is as follows: 2021 Cash flows Non-cash changes 2022 $ million Repayment $ million Interest paid $ million Additions / (reduction) $ million Foreign exchange movement $ million Changes in fair value $ million Interest $ million Reclassification $ million $ million Debt obligations Current Non-current Interest payable − 3,320.1 11.1 − − − − − (55.6) − − − − (4.9) − − (120.7) − − − 54.0* 777.8 (777.8) − 777.8 2,416.7 9.5 Loans from a related company Current 2,471.8 (411.5) (0.9) 355.3 − − 75.3 − 2,490.0 Lease liabilities Current Non-current − − 5,803.0 − (3.3) (414.8) − (0.1) (56.6) − 7.1 362.4 − − (4.9) − − (120.7) − 0.1 129.4 3.4 (3.4) − 3.4 0.4 5,697.8 * Comprises interest on debt obligations and net chang

‘்கபாடடு நகர்’ தெங்கபாவில் பெபாது குளிர்சாதன வசதியை பெ்ற 1,000 குடுமெங்கள் விருப்ெம ‘்கபாடடு நகர்’ என்று ைர–ணிக்–்கப்– படும தெங்கபா பேடவடயில் குடியே–்ற–வி–ருக்–கும ஏ்றக்–கு–வ்றய 1,000 குடும–ெங–்கள், பெபாது குளிர– ெபா–தன முவ்ற–யில் இவணந–து– ப்கபாள்ள விருப்–ெம தெரி–வித்து வ்கபய–ழுத்–திடடு இருக்–கின்–்ற–ன. அந–தப் புதிய குடி–யி–ருப்–புப் மெட– டை–யில் சுமார் 8,000 பிடிஓ வீடு–்கள் இது–வ–ரை–யில் விற–ப–னைக்கு ப்கபாடுக்–்கப்–ெடடு உள்–ளன. மையப்– படுத்–தப்–படட குளிர–ெபா–தன வசதியைப் பெ்ற விரும–பு–மைபா–ருக்கு நடை–முவ்றச் செல–வில் 30 விழுக்– ்கபாடு வரை குவ்ற–யும. த�பாடக்்க செல–வில் 15 முதல் 20 விழுக்–்கபாடு வரை மிச்–ச–ேபா–கும என்று எஸ்பி குழுேம தெரி–வித்– துள்–ளது. ப�ங–்கபா–வில் இந� நிறு–வ–னமே பெபாது– குளிர–ெபா–தன முவ்றவய நிர–வ–கித்து நடத்–தும. தெங்கபா ந்க–ரம ‘அறி–ைபாரந� எரி–சக்தி நகர்’ என்று குறிப்–பி–டப்– படு–கி்றது. அஙகு பல அறி–ைபாரந� அதி–ந–வீன அம–ெங–்கள் இடம–பெ்ற இருக்–கின்–்றன. அைற–றில் பெபாது– ைபான குளிர–ெபா–தன வச–தி–யும ஒன்று. குறிப்–பிடட வீை்க புமளபாக்–கு– ்களின் கூரைத் தளத்–தில் �ணணீரைக் குளி–ரூட–டக்–கூ–டிய ெபா�–னங–்கள் அமைக்–்கப்–படும. அந–தச் ெபா�–னங–்கள் சூரிய மின்– சக்–தி–யில் செயல்–படும. அதி–லி–ருநது எல்லபா வீடு–்களுக்கும குளி–ரூட–டப்– படட நீர குழபாய் வழி–யபா்க அனுப்பப்– படும. இத்–த–வ்கய ஏற–ெபாடு மூலம செலவு குவ்ற–யும என்று எஸ்பி குழுேம தெரி–வித்–துள்ளது. இந� முவ்ற–யைத் ம�ரந–தெ–டுத்– துக் ப்கபாள்–ப–ைர–்கள், �ங–்கள் வீடு– ்களில் வ்கமெசிச் செயலி ஒன்–வ்றக் ப்கபாணமட இந–தச் ெபா�–னங–்க–ளைக் கட்–டுப்–ப–டுத்–த–லாம். ‘மை தெங்கபா’ என்்ற அச்செயலி எஸ்பி குழுமத்துக்குச் பெபாந–த– ேபானது. ைபா்க–ன மின்–மனறறி நிலை– யங–்கள் எஙகு உள்–ளன என்–பதை அந–தச் செயலி வழி–யபா்க குடி–யிருப்– ெபா–ளர–்கள் தெரிந–து–ப்கபாள்–ள–லாம். சுற–றுச்–சூ–ழ–லுக்கு ஆத–ர–ைபான செய்–வ்க–்க–ளைச் செய்து அ�ற–்கபான வெகு–ம–தி–்க–ளை–யும அந–தச் செயலி மூலம ேக்்கள் பெ்ற–லாம். ஒவ–பைபாரு வீடடு புமளபாக்–கி–லும உள்ள மின்–தூக்–கிக் கூடத்–தில் மின்– னி–லக்–்கப் பலவ்க ஒன்று பெபாருத்– தப்–ெடடு இருக்–கும. அந� மின்–னி– லக்்க ெபா�–னத்–தைப் பார்த்து அந–தப் புமளபாக்–கில் எவ–வ–ளவு எரி–சக்தி பயன்–ப–டுத்–தப்–ெடடு இருக்–கி்றது என்–ப–தை–யும அத–னபால் சுற–றுச்–சூ–ழ– லுக்கு எவ–வ–ளவு ெபாதிப்பு ஏற–படும என்–ப–தை–யும தெரிந–து–ப்கபாள்–ள–லாம். பெபாது குளிர ெபா�னத்தில் வ்கமெசிச் செயலி மூலம வெப்ப நிலையை எப்படி குவ்றக்்கலாம், கூடடலாம் என்பதை த�பா ெபாமயபா ஹப்பில் செயல்படும ்கபாடசிக் கூடத்தில் தெரிநது ப்கபாள்ளலாம். படம்: ஸ்ட்ரெய்்டஸ டைம்ஸ த�பா ெபாமயபா–வில் உள்ள வீை்க மையத்தில் இப்–மெபாது ‘எனது தெங்கபா அனு–பவ நிலை–யம’ என்்ற பெயர தாங்–கிய ஒரு ்கபாட–சிக்கூடம செயல்–ப–டு–கி்றது. அதில் பல–ைற–வ்ற– யும மக்–்கள் தெரிந–து–ப்கபாள்–ள–லாம். ைபார நாட்–்களில் இந–தக் கூடம ்கபாவல 8 மணி முதல் ேபாவல 5 மணி வரை திறந்–தி–ருக்–கும. எல்– லபா–ரும அனு–ம–திக்–்கப்–ப–டு–வார்–்கள் என்–்றபா–லும ஒரு நேரத்–தில் 16 மெர வரை–�பான் உள்ளே செல்ல முடி–யும என்–ப–�பால் முன்–ப–திவு செய்துப்கபாள்– வது நல்–லது.

Media Release Electricity Tariff Revision For the Period 1 Jul to 30 Sep 2020 Singapore, 30 June 2020 – For the period from 1 July to 30 September 2020, electricity tariffs (before 7% GST) will decrease by an average of 15.0% or 3.42 cents per kWh compared with the previous quarter. This is due to lower energy costs compared with the previous quarter. For households, the electricity tariff (before 7% GST) will decrease from 23.02 to 19.60 cents per kWh for 1 July to 30 September 2020. The average monthly electricity bill for families living in four-room HDB flats will decrease by $12.00 (before 7% GST) (see Appendix 3 for the average monthly electricity bill for different household types). *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 shown in Appendix 1 have been approved by the EMA. Issued by: SP Group 2 Kallang Sector Singapore 349277 www.spgroup.com.sg Appendix 1 Appendix 2 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 PowerAssets): This fee is reviewed annually. This is to recover the cost of transporting electricity through the power grid. 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. 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 3

Media Release SP Mobility and Huawei to Launch Singapore’s Fastest Public EV Charger at Temasek Polytechnic [SINGAPORE, 8 July 2025] – Charging of electric vehicles (EVs) will now be super swift with the launch of Singapore’s first liquid-cooled ultra-fast direct current charger – the fastest in the nation and can charge over 200 km in range in just five minutes. It is the first collaboration between Huawei, a global information and communication technology leader and SP Mobility, part of Singapore Power (SP) Group. This first public deployment of the charger at Temasek Polytechnic was sealed in a Memorandum of Understanding (MoU) between the two companies to explore advanced EV charging solutions across Singapore. The ultra-fast charger has a maximum power rating of 480kW, depending on available power on site. Leveraging Huawei’s liquid-cooled technology, the system’s advanced thermal management ensures consistently high performance, safety, and energy efficiency, with longer service life and minimum maintenance. The charger will have at least four charging points and will also be augmented by an integrated energy storage system to provide additional power. The MoU outlines plans to co-develop and roll out high-powered charging systems at strategic locations and conduct regular technical sharing to accelerate the development & deployment of fast & ultra-fast charging infrastructure. The partnership will not just focus on supporting passenger vehicles, but also support commercial vehicles such as logistics fleets and private buses which typically have longer operational hours and higher daily mileage. Complementing these efforts, SP Mobility has also partnered with Goldbell Group to provide charging solutions for their logistics and heavy vehicle operations. This MoU follows a partnership, announced in 2024, between Huawei and EV-Electric (EVe) Charging Pte Ltd, a wholly owned subsidiary of the Land Transport Authority to propel the roll-out of Singapore’s largest public EV network, with the SP Mobility project being the first launched under the partnership. Mr Maxi Wang, Chief Executive Officer of Huawei International, said, “Huawei is delighted to partner with SP Mobility to support Singapore’s journey towards carbon neutrality. Huawei is committed to advancing clean energy and smart eMobility solutions, enhancing EV charging infrastructure and sustainability. Designed to meet fleet operators' demands, Huawei's ultra-fast chargers are highly reliable, efficient, and easily scalable to accommodate future needs. We remain dedicated to providing cutting-edge technology and services, empowering our local partners to create commercial value, accelerate sustainable development, and contribute to a greener, cleaner Singapore in line with the nation’s 2040 EV vision.” SP Mobility currently operates 20 charging points at Temasek Polytechnic, adding to the 120 already available across Tampines on its charging network, with more set to be installed over time. This latest installation boosts access to public fast charging in the east of Singapore. Dean Cher, Managing Director, Mobility at SP Group, said, “As the nation’s largest public fast-charging network operator, SP Mobility is focused on enabling faster, reliable and more rewarding charging experiences, especially for fleet and commercial users. By partnering Huawei, we look forward to collaborating on other cutting-edge EV charging technology and scaling up ultra-fast charging deployments to support the electrification of heavy vehicle segments.” In Q1 of 2025, EVs accounted for 40% of all new car sales in the first quarter of the year (Land Transport Authority). This trajectory highlights the need for faster and more accessible charging options to meet growing demand. High-speed chargers play a pivotal role in this transition, minimising wait times and accelerating the advancement of the e-mobility ecosystem. About Huawei Founded in 1987, Huawei is a leading global provider of information and communications technology (ICT) infrastructure and smart devices. We have 207,000 employees and we operate in more than 170 countries and regions, serving more than three billion people around the world. Our vision and mission is to bring digital to every person, home and organization for a fully connected, intelligent world. To this end, we will work towards ubiquitous connectivity and inclusive network access, laying the foundation for an intelligent world; provide diversified computing power where you need it, when you need it, to bring cloud and intelligence to all four corners of the earth; build digital platforms to help all industries and organizations become more agile, efficient, and dynamic; and redefine user experience with AI, making it smarter and more personalized for people in all aspects of their life, whether they're at home, on the go, in the office, having fun, or working out. For more information, please visit Huawei online at www.huawei.com or follow us on: http://www.linkedin.com/company/Huawei http://www.twitter.com/Huawei http://www.facebook.com/Huawei http://www.youtube.com/Huawei 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, as well as sustainable energy solutions in Singapore, China, Thailand and Vietnam. As Singapore's national grid operator, about 1.7 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 stations and digital energy solutions for customers in Singapore and the region. For more information, please visit spgroup.com.sg or follow us on Facebook at spgrp.sg/facebook, Linkedln at spgrp.sg/linkedin and Instagram at spgrp.sg/lnstagram. About Huawei Digital Power Technologies Co., Ltd. Huawei Digital Power Technologies Co., Ltd. (Huawei Digital Power for short) is a leading global provider of digital power products and solutions. We are committed to integrating digital and power electronics technologies, developing clean power, and enabling energy digitalization to drive energy revolution for a better, greener future. In the clean power generation sector, we help create new power systems that primarily rely on renewable energy. In the green ICT power infrastructure sector, we help build green, low-carbon, and intelligent data centers and communications networks. In the green transportation sector, we redefine consumer driving and safety experiences in electric vehicles, accelerating transportation electrification. Huawei Digital Power continues innovating through open collaboration with global partners to promote carbon neutrality. For more information, please visit Huawei online at https://digitalpower.huawei.com/en/ or follow us on: https://www.youtube.com/@huaweidigitalpower610    Mr Deng Ming, Managing Director of Huawei Digital Power Singapore and Mr Dean Cher, Managing Director, SP Mobility at SP Group.

SAFETY PERFORMANCE CRITERIA Introduction 1. With effect from 1 April 2022, all tenders called by Singapore Power Limited and its Singapore incorporated subsidiaries (SP Group) will include a tender evaluation criteria that takes into account the participating tenderer’s safety performance in their contracts with SP Group. With effect from 1 April 2023, this criteria is extended to subcontractors with LTI. 2. This is in line with SP Group’s core value that safety is our highest priority and all our suppliers and contractors must continuously adopt good safety practices and prevent accidents from occurring. Tender Evaluation Criteria 3. All open and closed tenders published on or after 1 April 2022 by SP Group shall include the new Safety Performance criteria as part of its tender evaluation criteria. 4. The Safety Performance criteria shall be a 1 st level evaluation criteria together with Price and/or Quality and shall be of a overall weightage of not less than 10% of the total evaluation score. 5. For tenders that is evaluated based solely on lowest compliant priced tender with no requirement to assess quality (e.g supply of standard items such as HP toner cartridges), the following evaluation method shall apply: Total Evaluation Score (100%) = Safety Performance (10%) + Price (90%) 6. For tenders that is evaluated based on Price and Quality factors, the following evaluation method shall apply: Total Evaluation Score (100%) = Safety Performance (10%) + Price (X%) + Quality (Y%) Where X + Y = 90% 7. For the avoidance of doubt, other safety related evaluation criteria such as the proposed safety measures to be taken for the tendered project or the tenderer’s past safety awards shall be accounted separately under the Quality score. Safety Performance 8. Safety Performance of tenderers shall be assessed by taking into account the occurrence of any Loss Time Injury (LTI) incidents in the past 2 years prior to tender closing date. In the event of the occurrence of any incidents that results in fatality or serious injury in the past 1 year prior to the tender closing date, the bid submitted by the tenderer may be rejected by SP Group. For the avoidance of doubt only incidents occurring on or after 1 April 2022 will be considered. 9. Loss Time Injury incidents for the purpose of this Safety Performance criteria refers to any incidents where: a. It is a work-related injury occurs which results in lost work time of one work day or more; b. The incident occurred while the tenderer was carrying out works under a contract with SP Group; and c. The incident occurred on or after 1 April 2022. 10. Any incidents that occur in the course of the Tenderer’s work in contracts with other parties are not accounted under this criteria’s scoring but may considered in the final decision for award.

Consumption_Elect Average consumption of Electricity (kWh) Premises Types Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 HDB 1-Room 139 143 139 132 130 127 125 121 111 127 142 152 HDB 2-Room 186 186 184 172 171 165 166 158 148 166 185 202 HDB 3-Room 259 264 257 245 245 235 233 226 212 242 270 288 HDB 4-Room 356 361 354 333 334 320 318 309 289 326 367 391 HDB 5-Room 414 420 416 388 389 373 369 363 338 381 428 456 HDB Executive 506 514 504 472 476 448 453 443 414 473 528 561 Apartment 527 523 519 498 496 469 450 425 414 465 543 585 Terrace 817 833 815 781 785 752 748 727 686 756 867 902 Semi-Detached 1,092 1,097 1,091 1,030 1,054 995 997 962 930 1,024 1,182 1,233 Bungalow 2,168 2,144 2,146 2,004 2,182 1,986 2,073 1,938 1,901 2,016 2,303 2,482 Consumption_Water Average consumption of Water (CuM) Premises Types Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 HDB 1-Room 7.9 8.2 8.3 7.9 8.0 7.9 7.9 7.8 7.3 7.9 8.0 8.1 HDB 2-Room 9.7 9.8 10.0 9.5 9.7 9.4 9.6 9.5 8.9 9.4 9.6 9.7 HDB 3-Room 12.0 12.5 12.7 12.3 12.4 12.1 12.2 12.2 11.6 12.3 12.2 12.5 HDB 4-Room 15.3 15.9 16.2 15.5 15.8 15.3 15.4 15.5 14.7 15.4 15.4 15.6 HDB 5-Room 16.4 17.2 17.7 16.8 17.2 16.5 16.6 16.9 16.1 16.9 16.7 16.9 HDB Executive 18.3 19.2 19.5 18.7 19.2 18.2 18.4 19.0 18.0 18.7 18.6 18.8 Apartment 13.4 14.0 14.4 14.2 14.4 13.7 13.5 13.5 13.5 14.0 13.7 13.7 Terrace 24.8 26.1 26.1 25.7 25.8 25.3 25.3 25.9 25.1 25.4 25.3 26.0 Semi-Detached 30.6 32.0 31.7 30.7 31.4 30.0 30.8 31.1 30.6 30.6 30.7 30.9 Bungalow 49.3 51.5 51.3 47.8 50.8 44.2 51.1 48.7 49.2 48.7 50.9 48.1 Consumption_Gas Average consumption of Gas (kWh) Premises Types Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 HDB 1-Room 37 40 39 37 39 39 38 41 35 40 33 37 HDB 2-Room 39 39 41 39 40 39 39 40 38 40 39 38 HDB 3-Room 52 54 55 53 54 53 53 54 52 55 52 51 HDB 4-Room 64 66 68 66 67 64 64 66 66 68 64 63 HDB 5-Room 68 72 75 71 74 70 68 72 73 74 69 69 HDB Executive 73 76 78 75 77 73 72 77 76 77 74 72 Apartment 81 86 92 93 97 91 89 93 97 97 84 79 Terrace 102 106 110 109 113 105 100 108 115 108 99 100 Semi-Detached 112 118 121 117 129 111 117 119 123 122 120 116 Bungalow 199 201 200 206 231 198 215 196 209 207 222 191 Utility Bill Avg_With Gas Utility Bill Average ($) for households with gas Premises Types Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 HDB 1-Room 75.94 80.29 79.52 75.64 75.42 74.47 73.47 72.54 69.41 75.78 77.52 81.09 HDB 2-Room 90.15 92.16 92.83 87.66 88.73 86.74 85.92 84.09 82.76 87.98 92.13 96.52 HDB 3-Room 111.19 116.39 115.66 111.11 111.41 108.67 107.21 106.03 103.38 110.82 115.06 119.49 HDB 4-Room 129.13 135.30 135.41 128.32 130.24 126.33 124.55 124.08 122.32 130.09 135.09 139.94 HDB 5-Room 134.92 142.31 143.56 135.44 137.54 133.06 130.21 131.77 129.76 138.14 142.59 147.54 HDB Executive 150.41 158.10 158.11 149.65 152.31 145.17 144.61 146.22 143.69 153.42 158.62 164.05 Apartment 160.67 168.22 169.89 165.75 166.37 158.59 153.55 149.59 149.92 159.67 168.05 175.53 Terrace 245.93 257.92 255.25 249.77 250.48 242.02 239.74 241.01 240.69 247.23 258.91 267.44 Semi-Detached 311.80 325.51 323.08 310.89 318.35 299.64 304.83 300.53 302.15 312.42 331.22 340.32 Bungalow 609.00 634.42 631.24 596.83 640.56 574.57 622.28 579.86 585.38 598.72 648.84 666.12 Utility Bill Avg_WO Gas Utility Bill Average ($) for households without gas Premises Types Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 HDB 1-Room 66.98 70.42 69.69 66.46 65.94 64.96 64.17 62.93 61.00 66.41 69.62 72.46 HDB 2-Room 80.76 82.40 82.70 78.10 78.97 77.25 76.41 74.69 73.69 78.51 82.96 87.55 HDB 3-Room 98.64 103.03 102.10 98.07 98.27 95.83 94.56 93.37 91.02 98.00 102.92 107.51 HDB 4-Room 113.82 118.92 118.50 112.25 113.86 110.67 109.23 108.49 106.81 114.19 120.14 125.27 HDB 5-Room 118.56 124.51 125.02 117.91 119.61 116.04 113.77 114.70 112.61 120.67 126.31 131.50 HDB Executive 132.99 139.32 138.78 131.24 133.46 127.53 127.39 128.11 125.79 135.24 141.39 147.11 Apartment 141.23 146.88 147.14 142.91 142.87 136.50 132.19 127.76 127.04 136.90 148.34 157.00 Terrace 221.44 231.61 228.01 223.13 223.04 216.41 215.75 215.52 213.47 221.92 235.82 244.04 Semi-Detached 285.04 296.28 293.08 282.08 287.08 272.62 276.68 272.41 273.12 283.78 303.14 313.22 Bungalow 561.85 584.60 581.72 546.05 584.33 526.49 570.22 533.77 536.08 549.93 596.94 621.34

9 January 2017 News Release For immediate release � � � SINGAPORE POWER PARTNERS INTERNATIONAL CONSORTIUM OF LEADING UTILITIES TO LAUNCH THE FREE ELECTRONS GLOBAL ACCELERATOR PROGRAMME World’s first global energy accelerator Promising start-ups are connected with utilities to co-create innovative solutions for a potential market of 73 million customers across 40 countries Twelve selected start-ups will participate in three modules in Silicon Valley, Europe, and Singapore Singapore, 9 January 2017 – Singapore Power (SP) today announced the launch of Free Electrons, a global accelerator programme in partnership with a global consortium of utilities and accelerators. The programme aims to recruit energy start-ups to drive the next generation of ideas and solutions that address emerging and future energy trends in clean energy, energy efficiency, e-mobility, digitisation, and on-demand customer services. Free Electrons is the first-of-its-kind in the energy sector that is initiated by eight international utilities – SP, AusNet Services, Dubai Electricity and Water Authority (DEWA), ESB (Electricity Supply Board), EDP (Energias de Portugal), innogy, Origin Energy, and Tokyo Electric Power Company (TEPCO). These utilities are leaders in clean energy transition, and have extensive experience in driving technological innovation. Together, the eight utilities represent a global footprint covering 73 million end customers across more than 40 countries, with a combined net income of USD $148 billion (more than SGD $211 billion). The programme is supported by two accelerator partners from Silicon Valley – New Energy Nexus and swissnex San Francisco, who have extensive networks in the innovation ecosystem and have the experience and expertise in connecting innovators. Twelve start-ups will be selected to participate in the six-month long accelerator programme, consisting of three separate week-long „customer adoption‟ modules in Silicon Valley (San Francisco), Lisbon and Dublin, and Singapore. At the modules, the start-ups will gain exposure to various markets all around the world by collaborating with major utility companies. The programme is designed for energy start-ups to further refine their products and services, with the potential of testing and developing them on a global customer base. “Singapore Power is committed to providing a high quality, sustainable lifestyle for customers. We are excited to partner respected international utilities and experienced accelerators, who have extensive innovation and R&D experience, to support promising start-ups around the world. Together we can develop transformational energy solutions to provide customers with more choices, and help them to save energy and cost.” – May Liew, Director of Strategic Development, Singapore Power Energy start-ups from Singapore and around the world can apply for the Free Electrons programme at www.freelectrons.co from 9 January 2017. Applications will close on 28 February 2017 and the selected start-ups will be announced in April 2017. ### Issued by: Singapore Power Limited 10 Pasir Panjang Road #03-01 Mapletree Business City Singapore 117438 Co. Reg. No : 199406577N www.singaporepower.com.sg Utility Partners Singapore Power (SP): 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, and district cooling businesses in Singapore and China. 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. For more information, please visit www.singaporepower.com.sg. AusNet Services: AusNet Services is a major player in the Australian energy industry. We are Victoria's largest energy delivery service business owning and operating approximately $11 billion of electricity and gas distribution assets that connect into more than 1.3 million Victorian homes and businesses. The energy landscape is transforming and so are we. We are looking for new ways to move energy with significant investment in creating energy solutions to meet tomorrow's needs. More information at www.ausnetservices.com.au. Dubai Electricity and Water (DEWA): DEWA is committed to promoting Dubai‟s vision through the delivery of sustainable electricity and water services at a world-class level of reliability, efficiency and safety in an environment that nurtures innovation with a competent workforce and effective partnerships; supporting the sustainability of resources. More information at www.dewa.gov.ae. ESB (Electricity Supply Board): ESB is Ireland‟s leading energy company, operating across the full spectrum of the electricity market: from generation, through transmission and distribution to supply. In addition, ESB extracts further value at certain points along this chain: supplying gas, using our networks to carry fibre for telecommunications, developing electric vehicle public charging infrastructure and an international consultancy arm which has worked in 120 countries globally. More information at www.esb.ie/innovation. EDP (Energias de Portugal): EDP is an energy producer, distributor and retailer with around 12 million customers in Portugal, Spain and Brazil. EDP has around 25GW of power production capacity of which 10GW are wind power generation, making us the 4th largest wind power producer in the world and 3rd in the US, and 5GW are hydro. Our renewable power business is present in 14 countries including US, Brazil and several European countries. More company information at www.edp.pt and startup support program information at www.edpstarter.com innogy: innogy SE is a European energy company, offering sustainable and innovative energy solutions. With its three business areas of renewables, grid & infrastructure as well as retail, it addresses the requirements of a modern, decarbonised, decentralised and digital energy world. More information at www.innogy.com. Origin Energy: Origin is an Australian integrated energy solutions provider with leading positions across energy retailing, power generation and natural gas production. Origin has a rapidly growing renewable energy portfolio, and was the world's first energy company to adopt all seven 'We Mean Business Coalition' initiatives, joining a worldwide group of nongovernment organisations, signatory companies and institutional investors committed to leadership on climate change. Origin is also scaling up its capabilities in digital metering and data and analytics to create more innovative and differentiated energy solutions for its millions of customers. More information at www.originenergy.com.au. Tokyo Electric Power Company Holdings (TEPCO): Tokyo Electric Power Company Holdings, Inc. (TSE: 9501), headquartered in Tokyo, Japan, is the largest utility in Japan serving more than 29 million homes and businesses. Worldwide the company has more than 74 subsidiaries and affiliates in 8 countries and employs approximately 43,330 people. Consolidated revenue for the fiscal year ending March 31, 2016, totaled 6.8 trillion Japanese yen. The company was established in 1951 and is listed on the First Section of the Tokyo Stock Exchange. For more information, visit http://www.tepco.co.jp/en/corpinfo. Accelerators New Energy Nexus: New Energy Nexus supports clean, smart and distributed startups worldwide by facilitating collaboration and innovation between industry experts, accelerators and startups that are transforming tomorrow‟s energy systems. New Energy Nexus is powered by the California Clean Energy Fund (CalCEF). California Clean Energy Fund (CalCEF) has been investing in, and accelerating clean energy innovation and and startup ecosystems for over a decade. CalCEF is tightly integrated in a web of clean energy research institutions, startup accelerators, and investors. More information at www.energynexus.co. swissnex San Francisco: swissnex San Francisco fosters international collaboration in the fields of education, research and innovation. With a belief that entrepreneurship is crucial to the clean energy transition, swissnex launched the SAFT – Energy startup solutions for 2050 accelerator program in 2015. swissnex brings over 13 years of experience connecting innovators with the right contacts and resources in Silicon Valley that they need to take their ventures to the next level. More information at www.swissnexsanfrancisco.org.

Media Release Singapore Polytechnic And SP Group Launch Next-Generation Solar Car For World Solar Challenge 2017 SP Group adds $2 million sponsorship to groom engineering talent Singapore, 21 July 2017 – Singapore Polytechnic and SP Group today unveiled their most advanced solar car, SunSPEC 5, designed and built by the polytechnic’s students to take part in the biennial World Solar Challenge 2017 in Australia this October. SP Group’s sponsorship of $1 million over 5 years for the team’s participation supports the students in developing innovative green technologies. Three SP Group staff, who are SunSPEC alumni, will also join this year’s team to contribute skills and experience, and serve as mentors to the current student cohort. The SunSPEC 5 edition follows the creation of its predecessor SunSPEC4 in 2015, also supported by SP Group, which beat challenging odds to participate in the race (see Annex 1). It is Singapore’s sole entry in the World Solar Challenge, considered one of the world’s toughest and most competitive solar car races, alongside leading global universities such as the Massachusetts Institute of Technology and Stanford University. The SunSPEC team is competing in the advanced Cruiser Class category which focuses on sustainable transport solutions and will test the car’s practicality and responsiveness to real-world challenges. This year’s car represents another significant stride towards commercially viable applications of solar and energy storage technology. It has leapt forward with integrated dashboard telemetry, a commercial vehicle lighting system and improvements to safety and ride comfort such as sports seats and adjustable steering positions. Over the past two years, more than 60 students across various Singapore Polytechnic Engineering diploma courses have pushed their knowledge and skills to new heights by designing and building two solar cars to withstand the arduous road trip over 3,000km in the Australian outback from Darwin to Adelaide. Besides learning to integrate their different disciplines, such as electrical & electronic engineering, energy systems & management, mechatronics and robotics, the experience hones resilience, creativity and the ability to solve practical problems. $2 million SP Group education sponsorship for Singapore Polytechnic’s SunSPEC engineering students To help develop a core pool of engineers who are ready to drive solutions for a sustainable future, Singapore Polytechnic and SP Group inked a three-year Memorandum of Understanding (MOU), valued at $2 million. This includes the SunSPEC polytechnic and university sponsorships for students who are part of the solar car team. They will secure job placements before they graduate and undergo a customised training programme including theory and on-the-job exposure in critical areas such as electricity and gas planning and operations. Seow Jing Woon, a third-year student from the Diploma in Mechatronics & Robotics, who received the SunSPEC Polytechnic sponsorship, said, “The solar car project enabled me to work with industry mentors, hone my engineering skills, and produce innovative sustainable solutions for the future.” SP Group’s Head of Corporate Affairs, Ms Amelia Champion, who has journeyed with the solar car team since the start of the partnership in 2015, said, “The spirit of innovation, resilience and passion among the students is unwavering from one cohort to the next. They have outdone themselves in delivering the latest SunSPEC solar car, which has pushed the boundaries in engineering and green technology.” Please refer to Annexes for more details: Annex 1: SunSPEC and World Solar Challenge Annex 2: Factsheet on SunSPEC 5 Annex 3: Details on MOU between Singapore Polytechnic and SP Group Annex 4: Key Terms in Chinese Follow the SunSPEC team’s journey on Facebook at https://www.facebook.com/TeamSunSPEC. The team designed and built SunSPEC 5 over a 20-month period – from December 2015. SunSPEC 5 is Singapore Polytechnic’s fifth solar car, and its second two-seater model. Designed and built completely in-house, SunSPEC 5 resembles a futuristic saloon car – albeit one powered by solar cells and batteries. In contrast to the polytechnic’s previous solar models, SunSPEC 5 is designed to perform similarly to a standard commercial car in terms of speed, seating capacity, and range. Incorporating leading-edge technology throughout its engineering, many of the car’s features out-perform commercial variants. For example, SunSPEC 5 weighs a mere 330kg (unladen) – a quarter of an average 1.6-litre car. SunSPEC 5’s drag coefficient of 0.13 is more than 2.5 times more efficient than an average passenger car. SunSPEC 5 uses ultra-low rolling resistance tires which are 6 times more efficient than regular car tires. The car is Singapore Polytechnic’s most technologically advanced and highest performing model to date. This year, SunSPEC 5 will feature new innovative green technologies, including being fitted with ultra-high efficiency silicon solar cells which are more efficient than those used in 2015. The flexible solar panel encapsulation has very low loss and allows the car to absorb indirect sunlight, thereby maintaining cell efficiency. The flexible solar panel is also able to conform to the shape of car for better aerodynamics. SunSPEC 5 is equipped with very efficient Maximum Power Point Trackers to maximise solar array. It is installed with a custom-designed telemetry system to monitor the car’s parameters, allowing team to optimise vehicle performance. The car also features a cruise control mode, which reduces driver fatigue, minimises variation in speeds under manual control, and improves vehicle performance. SunSPEC 5 will be Singapore’s sole representative at the World Solar Challenge; and the only team from a polytechnic, competing alongside leading global universities such as Stanford University and the Massachusetts Institute of Technology. For the second time in Singapore Polytechnic’s participation at the World Solar Challenge, the team will be competing in the more advanced Cruiser Class. In this category, teams are encouraged to design their cars based on practicality and marketability for end-users, innovation and energy consumption. SunSPEC 5 Key Specifications SP Group staff and Singapore Polytechnic alumni Leow Wei Lin, with Singapore Polytechnic student Sheryl Choo and the SunSPEC 5 solar car. Singapore Polytechnic Engineering students in the SunSPEC 5 solar car team Photo credits to SP Group About Singapore Polytechnic (www.sp.edu.sg) Established in 1954, Singapore Polytechnic (SP) is Singapore’s first polytechnic. It has 10 schools that offer 46 full-time courses for close to 16,000 students. SP adopts a proven creative teaching and learning framework and offers students a holistic, authentic and industry-relevant curriculum, innovative and vibrant learning spaces, and enriching overseas programmes. The Polytechnic is committed to producing competent and versatile graduates who are also imbued with sound values, so that they can be work ready, life ready and world-ready. SP has more than 195,000 graduates and among them are successful entrepreneurs, top executives in multi-national and public-listed corporations, and well-known professionals across various industries and leaders in government SP clinched the inaugural ASEAN People’s Award in 2015 for its contributions toward the region’s community-building efforts. SP is also the first polytechnic to be awarded the President’s Award for the Environment in 2010 and the President's Social Service Award in 2011. Follow SP on Facebook at http://www.facebook.com/singaporepolytechnic and Twitter and Instagram at @singaporepoly. 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. More than 1.4 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. For more information, please visit spgroup.com.sg or follow us on Facebook at fb.com/SPGroupSG Annex 1 SunSPEC 4 Rises From The Ashes It was a near-miracle that SunSPEC 5’s predecessor, SunSPEC 4, took to the roads at the 2015 World Solar Challenge. SunSPEC 4 was destroyed in a fire on 25 August 2015, just three weeks before it was scheduled to be shipped off to Darwin, Australia, for the race flag-off. Undaunted, the Singapore Polytechnic team of 52 students and lecturers worked through nights and weekends to rebuild a new vehicle in four weeks, compared to eight months for the original car. With additional funding and logistical support from SP Group, the team acquired and assembled parts under a highly-compressed schedule. Airfreight saved an extra two weeks, compared to marine freight. SP Group staff – all alumni of Singapore Polytechnic – also provided additional support and mentorship before and during the race in Australia. SP Group recognised the tenacity, determination and passion of the students towards this project and launched the SunSPEC Polytechnic & University Sponsorship scheme, specifically for Singapore Polytechnic students involved with SunSPEC4 and for two subsequent editions of the solar car About the partnership between SP Group and Singapore Polytechnic SP Group and Singapore Polytechnic formalised a SGD $1 million, five-year partnership for the two organisations to collaborate in participating at the World Solar Challenge in 2015, 2017 and 2019. SP Group is contributing funding, manpower, subject-matter expertise, logistics and public education. Singapore Power’s key objectives for this partnership are: Nurture and develop the next generation of engineering talent Innovative sustainable solutions – develop energy-efficiency initiatives and promote the use of renewable and green technology such as solar powered applications and energy storage systems. About the World Solar Challenge The World Solar Challenge is considered one of the world’s toughest solar car challenges, and regularly sees leading global universities such as Cambridge University, the Massachusetts Institute of Technology, and Stanford University participating. The SunSPEC team is competing in the advanced Cruiser Class category which focuses on sustainable transport solutions and will test the car’s practicality and responsiveness to real-world challenges. Participants in this Class race undergo the arduous road trip over 3,000km in the Australian outback from Darwin to Adelaide, using mainly power from the sun, with minimal grid charging. Vehicles operate on actual roads, at road speeds. Annex 2 About the Team & SunSPEC 5 Size 35            35 students, 12 lecturers and 3 SP Group staff Background   Multi-disciplinary team representing expertise from the schools of Electrical & Electronic  Engineering; Mechanical & Aeronautical Engineering; Digital Media & Infocomm Technology and Communication, Arts & Social Sciences The team designed and built SunSPEC 5 over a 20-month period – from December 2015 SunSPEC 5 is Singapore Polytechnic’s fifth solar car, and its second two-seater model. Designed and built completely in-house, SunSPEC 5 resembles a futuristic saloon car – albeit one powered by solar cells and batteries. In contrast to the polytechnic’s previous solar models, SunSPEC 5 is designed to perform similarly to a standard commercial car in terms of speed, seating capacity, and range. Incorporating leading-edge technology throughout its engineering, many of the car’s features out-perform commercial variants. For example, SunSPEC 5 weighs a mere 330kg (unladen) – a quarter of an average 1.6-litre car. SunSPEC 5’s drag coefficient of 0.13 is more than 2.5 times more efficient than an average passenger car. SunSPEC 5 uses ultra-low rolling resistance tires which are 6 times more efficient than regular car tires. The car is Singapore Polytechnic’s most technologically advanced and highest performing model to date. This year, SunSPEC 5 will feature new innovative green technologies, including being fitted with ultra-high efficiency silicon solar cells which are more efficient than those used in 2015. The flexible solar panel encapsulation has very low loss and allows the car to absorb indirect sunlight, thereby maintaining cell efficiency. The flexible solar panel is also able to conform to the shape of car for better aerodynamics. SunSPEC 5 is equipped with very efficient Maximum Power Point Trackers to maximise solar array. It is installed with a custom-designed telemetry system to monitor the car’s parameters, allowing team to optimise vehicle performance. The car also features a cruise control mode, which reduces driver fatigue, minimises variation in speeds under manual control, and improves vehicle performance. SunSPEC 5 will be Singapore’s sole representative at the World Solar Challenge; and the only team from a polytechnic, competing alongside leading global universities such as Stanford University and the Massachusetts Institute of Technology. For the second time in Singapore Polytechnic’s participation at the World Solar Challenge, the team will be competing in the more advanced Cruiser Class. In this category, teams are encouraged to design their cars based on practicality and marketability for end-users, innovation and energy consumption. SunSPEC 5 Key Specifications Dimensions 5m (l) x1.75m (w) x 1.3m (h, max) Body Carbon Fibre Reinforced Polymer (CFRP) body Motor Drive System 2-wheel drive, powered by two – 1.5 kilowatt high efficiency brushless DC motor Top Speed 90 – 100 km/h Drag Coefficient 0.13 Passenger Capacity 1 driver and 1 passenger Power Supply 122V 15 kW Li-ion battery pack – 5m2 of ultra-efficient solar array delivering 1kW (peak), less energy than an electric kettle Unladen Weight 330kg – About a quarter of the weight of an average 1.6 litre family sedan Driving Range A single charge provides a range of 500km – enough to drive a journey from Singapore to Malacca and back Annex 3 MOU between SP Group and Singapore Polytechnic With the signing of the Memorandum of Understanding, SP Group and Singapore Polytechnic will collaborate on the following: Scholarships / Sponsorships / Book Prizes Career and internship Opportunities – To promote a better understanding of the power engineering industry and enhance SP Group’s reputation to the students as an employer of choice Knowledge and Information Sharing – Exchange/Sharing of information, knowledge, ideas within the power sector, and Training Experiences in areas of pedagogy and lesson delivery SkillsFuture Earn and Learn Programmes Jointly Develop and Conduct Courses SunSPEC Polytechnic & University Sponsorship Scheme The SunSPEC Polytechnic & University Sponsorship Scheme is part of SP Group’s strategy to develop a strong engineering talent pipeline. Recipients will secure job placements before they graduate and undergo a customised training programme of theory and on-the-job exposure in critical areas such as electricity and gas planning and operations. Opportunities are provided for the students through structured graduate development programmes like EDGE and LEAP. Engineering Development for GraduatEs (EDGE) Programme Recipients of the SP Group SunSPEC University Sponsorship Award will join the EDGE Programme – a ground-up approach to grooming fresh engineers. Participants will undergo: One-week orientation – Comprises of presentations on SP Group operations, case study discussions, site visits and a leadership and team building programme. Customised one-year structured training – Includes a series of blended training of theory-based lessons, attachments to different parts of the value chain and on-the-job training to accelerate the learning process of new engineers in transmission and distribution operations. Two 2-year job rotations to critical operations of the business. Sponsorship to attain Professional Engineer Certification. Learning Through TEchnical Accelerated Programme (LEAP) The LEAP programme see fresh polytechnic graduates undergo a series of structured blended training which consists of theory-based lessons and on-the-job training, tailored to build a strong technical foundation. Foundation Training – Topics include overview of Singapore’s electricity and gas network, safety, first aid, customer service excellence Core Technical Training – Courses to deepen technical foundational knowledge On-The-Job Training which is aimed to complement classroom training – paired with experienced mentors to perform key operational duties   Annex 4 Key Terms in Chinese

LICENSED ELECTRICAL TECHNICIAN PREPARATORY PROGRAMME (Programme Code: ENO33) LEARNING OUTCOMES The Licensed Electrical Technician Preparatory Programme will equip participants with the necessary theoretical foundation and practical application skills to carry out the work of a Licensed Electrical Technician. PRE-REQUISITES Applicants are required to have: o At least 5 years as a Practicing Licensed Electrician; or o Diploma in Electrical Power Engineering from Singapore Polytechnic or Ngee Ann Polytechnic, and at least 1 year of relevant hands-on experience after attainment of diploma (only required to complete the practical modules by SIPG) --- The programme is optional for applicants with: o Diploma in Electrical Power Engineering from Singapore Polytechnic or Ngee Ann Polytechnic, and o At least 2 years of relevant hands-on experience in electrical works after attainment of diploma --- Priority will be given to Licensed Electricians with 5 years of relevant hands-on experience. PROGRAMME CONTENTS Theoretical Foundation Conducted by Singapore Polytechnic/Ngee Ann Polytechnic No. Description Hours Total Module 1: Electrical Circuit Theory and Analysis 1.1 Basic Circuit Theory 3 1.2 AC Theory 13 1.3 Three Phase AC Circuits 12 1.4 Written Assessment 1 2 2 Module 2: Distribution System and Protection 2.1 Power Generation, Transmission and Distribution System 3 2.2 Fault calculation 5 2.3 Circuit Switching and Switchgears 3.5 2.4 Protection 7 2.5 Distribution Transformers 3 2.6 Cables and Wiring Systems 3 2.7 Substation Earthing and System Earthing 1.5 2.8 Testing and Commissioning 2 2.9 Written Assessment 2 2 2 28 28 Singapore Institute of Power and Gas Pte Ltd UEN: 201427065Z 2 Kallang Sector, Singapore 349277 1 V15_092025 No. Description Hours Total Module 3: Electrical System Design 3.1 Electricity Distribution System & Related Regulations 6 3.2 Characteristics and Selection of Protective Devices 9 3.3 Design of Residential Electrical Installation 9 3.4 Design of Industrial and Commercial Electrical Installation 6.5 3.5 Standby Generators 3 3.6 Inspection and Testing 3 3.7 Temporary Electrical installation 6 3.8 Earthing System 1.5 3.9 Grid-connected PV System 9 3.10 EV Charging System 3 3.11 Written Assessment 3 2 2 Module 4: Electrical Machines and Control 4.1 Single-phase and Three Phase Transformers 2.5 4.2 Induction and DC Motors 3 4.3 Synchronous Motors & Generators 3 4.4 Semiconductor Devices for Motor Control 3 4.5 DC & AC Drives 5 4.6 Motor Starters 4.5 4.7 Written Assessment 4 2 2 Practical Application Conducted by Singapore Institute of Power and Gas 2 56 21 Total 141 No. Description Hours Total Module 5: Safety and Connection Requirements 5.1 Safety & Licensing Requirements 7 5.2 The Supply Connection Process 3.5 11 5.3 Assessment 0.5 Module 6: Commercial and Industrial Low Voltage Installation 6.1 Design for Commercial and Industrial Low Voltage Installation 14 6.2 Distribution Switchboard Maintenance for Commercial and Industrial Low Voltage Installation 7 22 6.3 Assessment 1 Module 7: Testing Methods 7.1 Inspection & Testing of Installations up to 500 kVA 14 7.2 Commissioning of Switchboard up to 500kVA 7 22 7.3 Assessment 1 Module 8: HV Switching Operations and Procedures 8.1 Protection Scheme 3.5 8.2 Operation and Maintenance of Distribution Transformer 3.5 8.3 Switching Operations and Procedures 3.5 11 8.4 Assessment 0.5 Total 66 ASSESSMENT For modules conducted by SP/NP, a written assessment will be conducted upon completion of each module. For modules conducted by SIPG, a practical assessment will be conducted upon completion of each module. V15_092025 PROGRAMME TIMING The programme will be conducted during weekday evenings (6.30pm – 10.00pm) and Saturdays (8.30am – 6.00pm). CERTIFICATE Participants who have successfully pass all theoretical and practical modules will be awarded a Certificate of Achievement jointly issued by SIPG and SP/NP. EMA LICENSING COMPETENCY ASSESSMENT The “Certificate of Achievement” is required by EMA for participants without the relevant educational qualification. Participants are required to ensure that they satisfy the relevant work experience and pass the “EMA Licensing Competency Assessment” to qualify for an Electrical Technician’s License. Please refer to EMA website for more information on application for Electrical Technician License: EMA Website PROGRAMME FEE Full Programme (Theoretical Foundation & Practical Applications) Programme Fee Singapore Citizens and Permanent Residents <40 years old Nett Fee after SSG Funding* Singapore Citizens ≥40 years old only Enhanced Training Support for SMEs # Without GST $11,460.00 $3,438.00 $1,146.00 $1,146.00 With 9% GST + $12,491.40 $3747.42 $1455.42 $1455.42 Practical Applications Only Programme Fee Singapore Citizens and Permanent Residents <40 years old Nett Fee after SSG Funding* Singapore Citizens ≥40 years old only Enhanced Training Support for SMEs # Without GST $4,800.00 $1,440.00 $480.00 $480.00 With 9% GST + $5,232.00 $1569.60 $609.60 $609.60 * Subjected to SSG’s approval and changes. + 9% GST applicable for intakes starting from 1 Jan 2024 # For more information on the Enhanced Training Support for Small & Medium Enterprises (SMEs) scheme, please click here. Self-sponsored applicants may use their relevant SkillsFuture Credit (SFC) to offset the programme fee. PROGRAMME SCHEDULE Full Programme Intake: Sep 2025 (Closed)/ Feb 2026 Practical Only Intake: TBC Registration closing date: 4 weeks before programme commencement Application will be considered upon submission of completed application form and all necessary supporting documents. SIPG will contact the applicant after confirmation that all admission criteria are met. For enquiries, contact SIPG at training-institute@spgroup.com.sg or 6916 7930 SIPG reserves the rights to amend any details relating to the programme without prior notice. 3 V15_092025 This page is intentionally left blank 4 V15_092025 Registration Form Licensed Electrical Technician Preparatory Programme PART A: PERSONAL PARTICULARS � Self-Sponsored Applicant � Company-Sponsored Applicant ** Full Name (As in NRIC/FIN) ** NRIC/FIN ID Expiry Date (dd/mm/yy) ** Nationality Gender M / F ** Monthly Salary 1 LE License No. (if applicable) Date of Birth (dd/mm/yy) Race: Chinese / Malay / Indian / Others: ___________________ Years of Relevant Experience as LE (if applicable) ** Contact Number Email Address Address (Residential address for self-sponsored applicants) FOR COMPANY-SPONSORED APPLICANTS ONLY Eligibility for Enhanced Training Support for SMEs: Determination will be based on SSG system. Applicant must have continued to receive full salary under the billing company (as below) and CPF entitlements during the entire duration of the funded course. Company Name UEN Company Address Contact Person Designation Contact Number PART B: PRE-REQUISITES Email Address 1. Please indicate your relevant hands-on electrical work experience: Employer Name Position Held Year of Joining Year of Leaving 2. Please indicate your educational qualifications: Qualification Title Name of Institute Year Completed Please attach relevant supporting documents. (Refer to Annex A for the list of supporting documents required.) 1 Salary range: a) Unemployed b) Below $1,000 c) $1,000 - $1,499 d) $1,500 - $1,999 e) $2,000 - $2,499 f) $2,500 - $2,999 g) $3,000 - $3,499 h) $3,500 and above ** Mandatory field 5 V15_092025 PART C: PROGRAMME TYPE Please tick the programme type that ☐ Full Programme - Theoretical Foundation & Practical Applications ☐ Practical Applications only (Applicable only to applicants with Diploma in Electrical Power Engineering from Singapore Polytechnic/Ngee Ann Polytechnic or higher qualifications that are recognised by EMA/PEB.) PART D: PAYMENT Payment is only required after the programme has been scheduled for the applicant and applicant has confirmed his/her availability. An invoice with the final amount (after funding, if any) and the available mode of payment will be sent to the applicant. PART E: DECLARATION By submitting this registration form: - I hereby declare that all information given is true and accurate; - I acknowledge that SIPG shall not be responsible should EMA rejects my application for licensing; and - I agree to the terms and conditions stated below. (i) For Self-Sponsored Application (ii) For Company-Sponsored Application Name: ______________________ Name of Authorised Personnel: _____________________ Signature: ______________________ Signature: _____________________ Company Stamp Date: ______________________ Date: _____________________ PART F: PERSONAL DATA PROTECTION ACT I/We acknowledge and agree that SIPG may collect, use and disclose to any third party any and all particulars relating to my/our personal information for the purposes of (i) providing the requested services in respect of the programme(s), (ii) billing and account management (including debt collection or recovery); (iii) conducting surveys or obtaining feedback; (iv) informing me/us of services and offers by SIPG, its related entities and business affiliates (unless I/we duly inform you otherwise); and (v) complying with all applicable laws and regulations, and business requirements. Name: Signature: Date: TERMS AND CONDITIONS: 1) The company and individual applicant have read and understood the terms of the programme information and registration form. 2) The information collected on this form is used for programme registration, account servicing of programme-related activities and/or for application of programmerelated funding to appropriate funding agencies. 3) This registration form must be submitted to SIPG at least 4 weeks before programme commencement. 4) Payment must be made to SIPG before programme commencement. 5) SIPG reserves the right to amend any details relating to the programme without any prior notice. 6) Request for withdrawal must be made in writing and are subject to approval by SIPG. >5 working days before programme commencement : 100% refund; Less than 5 working days before programme commencement : no refund. 7) Request for transfer/replacement must be made in writing at least 5 working days before programme commencement and is subject to approval by SIPG. SIPG reserves the right to impose an administration fee for such requests. 8) Trainee shall be bound by the terms and conditions of any applicable funding scheme as approved by SIPG. 9) In the event that the trainee fails to meet any of the requirements set under the funding scheme or has been granted funding for the same programme before, thereby resulting that his/her funding application is rejected, the trainee is liable to pay the balance of the full programme fee to SIPG. 10) Photographs of trainees may be taken at the event for SIPG’s marketing materials and other publications. Singapore Institute of Power and Gas Pte Ltd UEN: 201427065Z 2 Kallang Sector, Singapore 349277 6 V15_092025 ANNEX A: LIST OF SUPPORTING DOCUMENTS REQUIRED Please submit all relevant supporting documents along with the application form via email. Note: SIPG reserves the right to reject any application due to incomplete submission of supporting documents. 1 Company Testimonial Letter (To clearly state the years and job scope of relevant hands-on electrical works experience) 2 Educational Certificates (For non-Licensed Electricians) Highest Qualification (Minimum of Diploma in Electrical Power Engineering from Singapore Polytechnic/Ngee Ann Polytechnic or higher qualifications that are recognised by EMA/PEB) 7 V15_092025

Search SP Group Boosts Electric Mobility Capabilities via Investment in The Mobility Househttps://www.spgroup.com.sg/about-us/media-resources/news-and-media-releases/SP-Group-Boosts-Electric-Mobility-Capabilities-via-Investment-in-The-Mobility-House Media Release SP Group Boosts Electric Mobility Capabilities via Investment in The Mobility House Singapore/Munich/Zurich, 3 September 2020 – SP Group (SP) today announced a strategic investment in The Mobility House AG (TMH) to explore smart charging1 (V1G) and vehicle-to-grid2 (V2G) feasibility [20200903] Joint News Release - SP Group Boosts Electric Mobility Capabilities via Investment in The Mobility Househttps://www.spgroup.com.sg/dam/spgroup/wcm/connect/spgrp/3885980d-054e-4cbb-a25f-b9029e3591e3/%5B20200903%5D+Joint+News+Release+-+SP+Group+Boosts+Electric+Mobility+Capabilities+via+Investment+in+The+Mobility+House.pdf?MOD=AJPERES&CVID= Joint News Release SP GROUP BOOSTS ELECTRIC MOBILITY CAPABILITIES VIA INVESTMENT IN THE MOBILITY HOUSE Singapore/Munich/Zurich, 3 September 2020 – SP Group (SP) today announced a strategic investment in The Mobility House AG (TMH) to explore smart charging 1 (V1G) and vehicle-togrid 2 (V2G Sustainabilityhttps://www.spgroup.com.sg/about-us/media-resources/energy-hub/sustainability/enabling-green-mobility-in-tengah SP Energy HubAnnual ReportReliabilitySustainabilityInnovation Enabling green mobility in Tengah SUSTAINABILITY SP Group (SP) is partnering Toyota’s authorised car distributor Borneo Motors Singapore (BMS) on EV sharing and leasing schemes for residents of Tengah. SP and BMS signed an MOU to explore Category: Sustainability Searchhttps://www.spgroup.com.sg/search?tag=mobility Search SP Group Boosts Electric Mobility Capabilities via Investment in The Mobility Househttps://www.spgroup.com.sg/about-us/media-resources/news-and-media-releases/SP-Group-Boosts-Electric-Mobility-Capabilities-via-Investment-in-The-Mobility-House Media Release SP Group Boosts Electric Mobility Searchhttps://www.spgroup.com.sg/search?tag=mobility Search SP Group Boosts Electric Mobility Capabilities via Investment in The Mobility Househttps://www.spgroup.com.sg/about-us/media-resources/news-and-media-releases/SP-Group-Boosts-Electric-Mobility-Capabilities-via-Investment-in-The-Mobility-House Media Release SP Group Boosts Electric Mobility Hyundai+Motor+Launches+E-mobility+Pilot+in+Singapore+with+SP+Group+and+Komoco.pdfhttps://www.spgroup.com.sg/dam/spgroup/wcm/connect/spgrp/30af18e8-68dc-498a-b697-afde62be1c9d/Hyundai+Motor+Launches+E-mobility+Pilot+in+Singapore+with+SP+Group+and+Komoco.pdf?MOD=AJPERES&CVID= Hyundai Motor Group Launches ‘E-mobility Pilot’ in Singapore with SP Group and Komoco Motors to Enhance EV Customer Experience • Pilot program to offer real-time EV battery management solution, preventive maintenance, EV charging credits and V2V mobile charging for EV owners in Singapore • EV ChargEco EV charging points handed over to SP Mobility | The Straits Timeshttps://www.spgroup.com.sg/dam/spgroup/pdf/media-coverage/2026/-20260702--The-Straits-Times---ChargEco-joins-SP-Mobility.pdf Over 1,000 ChargEco EV charging points handed over to SP Mobility after completion of deal Sign up now: Get ST's newsletters delivered to your inbox During the transition, users can continue to access ChargEco’s charging points through their existing app. ST PHOTO: GAVIN FOO Lee Nian Tjoe Published HSBC Asset Management Energy Transition Infrastructure (ETI) Team Invests in a Strategic Stake in SP Mobilityhttps://www.spgroup.com.sg/about-us/media-resources/news-and-media-releases/HSBC-ASSET-MANAGEMENT-ENERGY-TRANSITION-INFRASTRUCTURE--ETI--TEAM-INVESTS-IN-A-STRATEGIC-STAKE-IN-SP-MOBILITY Joint Media Release HSBC Asset Management Energy Transition Infrastructure (ETI) Team Invests in a Strategic Stake in SP Mobility Singapore, 11 February 2025 – HSBC Asset Management (“HSBC AM”) today announces an investment1 by its Energy Transition Infrastructure (“ETI”) team in SP Mobility, an SP Hyundai Motor Group Launches ‘E-mobility Pilot’ in Singapore with SP Group and Komoco Motors to Enhance EV Customer Experiencehttps://www.spgroup.com.sg/about-us/media-resources/news-and-media-releases/Hyundai-Motor-Launches--E-mobility-Pilot--in-Singapore-with-SP-Group-and-Komoco News Release Hyundai Motor Group Launches ‘E-mobility Pilot’ in Singapore with SP Group and Komoco Motors to Enhance EV Customer Experience Pilot program to offer real-time EV battery management solution, preventive maintenance, EV charging credits and V2V mobile charging for EV owners in Singapore [30062022]+Media+Release+-+BMS+and+SP+to+pilot+SG's+first+electric+car+sharing+programme+in+Tengah.pdfhttps://www.spgroup.com.sg/dam/spgroup/wcm/connect/spgrp/7aacef70-9cf0-44e6-8484-b84ac03837ec/%5B30062022%5D+Media+Release+-+BMS+and+SP+to+pilot+SG's+first+electric+car+sharing+programme+in+Tengah.pdf?MOD=AJPERES&CVID= News Release BORNEO MOTORS SINGAPORE AND SP GROUP TO PILOT SINGAPORE’S FIRST ELECTRIC CAR-SHARING PROGRAMME IN TENGAH, SINGAPORE’S FIRST INTEGRATED SMART ENERGY TOWN • The partnership aims to accelerate Singapore’s transition to green mobility by increasing awareness on sustainable mobility Borneo Motors Singapore and SP Group to Pilot Singapore’s First Electric Car-Sharing Programme in Tengah, Singapore’s First Integrated Smart Energy Townhttps://www.spgroup.com.sg/about-us/media-resources/news-and-media-releases/Borneo-Motors-Singapore-and-SP-Group-to-pilot-Singapore-s-first-electric-car-sharing-programme-in-Tengah--Singapore-s-first-integrated-smart-energy-town News Release Borneo Motors Singapore and SP Group to Pilot Singapore’s First Electric Car-Sharing Programme in Tengah, Singapore’s First Integrated Smart Energy Town • The partnership aims to accelerate Singapore's transition to green mobility by increasing awareness on sustainable mobility SP Group launches Tengah’s First Public EV Chargers, Expanding Singapore’s Green Mobility Networkhttps://www.spgroup.com.sg/about-us/media-resources/news-and-media-releases/SP-Group-launches-Tengah-s-First-Public-EV-Chargers--Expanding-Singapore-s-Green-Mobility-Network Media Release SP Group launches Tengah’s First Public EV Chargers, Expanding Singapore’s Green Mobility Network 25 February 2025, Singapore – SP Group (SP) today launched the first electric vehicle (EV) charging points in Tengah estate, Singapore’s first and largest smart and sustainable town 1 2 3 4 5 ..... 13

THE STRAITS TIMES BRANDED CONTENT Purpose-driven tech: Meet the UX designer on a mission to help the planet and the community Whether she is enabling consumers to visualise their personal carbon footprint or doing user research to encourage volunteering, SP Group’s Director of User Experience Priscilla Liu strives to make a positive impact Ms Priscilla Liu, who heads the User Experience team at SP Group, is optimistic about helping consumers understand the difference they can make on a personal level in combating climate change. PHOTO: SP GROUP PUBLISHED MAR 8, 2023, 4:00 AM SGT Can one less plastic bag or a night without air-conditioning actually make a difference in climate change? This is a question that prompted Ms Priscilla Liu to find ways for everyone to chip in to counter the effects of climate change. “On a smaller level, we all know there are some things we should or should not do. But climate change is a concept of such a big scale that people are sceptical that one person’s action can really affect anything. And that is the problem we are trying to solve,” shares Ms Liu, Director of User Experience at SP Group (SP). One way is to let individuals measure and see the tangible impact of his or her actions. That’s what Ms Liu and SP’s team of digital experts set out to do when designing the SP app. The app’s 1.4 million registered users can see almost in real time how their daily habits affect their electricity consumption. “Typically, we get our utilities bill at the end of the month – by then, it’s too late to change our behaviour,” explains Ms Liu. “But with the SP app, smart metering shows electricity consumption information that refreshes every half hour. It’s easier to link what activity consumes how much energy and motivate changes to behaviours.” Climate-friendly features on the SP app Ms Liu also takes pride in another climate-oriented feature in the SP app – GreenUP. Through gamification, it encourages users to learn more about sustainability and take steps to incorporate it into their daily life. Users can collect points known as “leaves”, accumulate them to grow a virtual plant, and enjoy tiered rewards and discounts with partner merchants. “GreenUP began as a project to encourage users to take small steps towards a greener lifestyle. It is now one of the features with the highest engagement rate on the SP app,” says Ms Liu, “If we all take small steps to behave sustainably, that can have a significant cumulative effect.” Another feature on the SP app is My Carbon Footprint, which helps consumers calculate their carbon emissions to quantify their personal carbon footprint and suggest ways to reduce it. For example, it can propose Green Goals for users to reduce their consumption of energy and water. The Green Goals feature is calibrated according to the average consumption in the consumer’s district, benchmarked against the national consumption, and weighted according to the profile of the household. This way, the consumer benefits from a detailed and realistic analysis of their consumption patterns. Ms Liu’s team is responsible for presenting the consumption data in a visually engaging and easily understandable manner. This helps consumers appreciate their individual contribution within the larger community and national efforts for climate action. “Sustainability is everyone’s responsibility. We hope that through good digital design, we are able to increase engagement and encourage more consumers to take steps in reducing their carbon footprint,” says Ms Liu. These climate-conscious actions will contribute towards Singapore’s goal of net zero carbon emissions by 2050. Ms Liu is confident that Singapore can meet the target. “If there’s one thing that Singapore is good at, it’s meeting targets,” she says. Working and volunteering for a higher purpose Ms Priscilla Liu (first row, seventh from left) and fellow volunteers from SP Heart Workers and Yio Chu Kang Zone 2 RC preparing to distribute bags of daily essential items to 150 families and seniors during Hari Raya last year. PHOTO: SP GROUP When Ms Liu first joined SP Group more than six years ago, she had already accumulated skills and expertise in user experience (UX) at various multinational companies, including an Australian bank and a real estate group. “I was attracted to how SP Group made the decision to go into sustainability before it was trendy. The energy industry is complex and there are many uncertainties to consider, so it is quite bold of them to venture into areas like electric vehicle charging and solar energy as a forerunner back then. “Also, after many years of building apps to sell things, I wanted to do something more meaningful in my career. SP Group gave me the opportunity to work on something that makes a positive impact,” says Ms Liu. Besides her work responsibilities on the UX team, Ms Liu is also the Chairperson for SP Heart Workers, SP Group’s corporate volunteering programme. Activities organised under this programme include charity drives, social events and activities for the elderly, as well as packing and delivery of learning tools for children. During one of the events, staff volunteers from SP were paired with elderly folks to shop for groceries with SP-sponsored vouchers at the supermarket. “Usually, they buy items that they can keep for a longer time, such as canned food. And they also tend to pick cheaper items. But one time, I remember vividly that this auntie took a box of chocolates, which was out of the norm. At the checkout she told us, ‘This chocolate is for the volunteers.’ It was a really touching moment for me,” recalls Ms Liu. Ms Liu has also put her UX skill set to good use for SP Heart Workers. “We do ‘user research’ – we get feedback from volunteers and improve the volunteering activities with each iteration. We also ensure each programme has clear objectives and desired outcomes are achieved, so that our efforts are meaningful and well received by those we volunteer with, and colleagues have an overall positive experience and are encouraged to volunteer more.” Join ST's Telegram channel and get the latest breaking news delivered to you. � E-paper � Facebook � Instagram � Twitter � LinkedIn � Podcasts � RSS Feed � Telegram � Youtube � TikTok • SINGAPORE • ASIA • WORLD • OPINION • LIFE • TECH • SPORT • VIDEOS • PODCASTS • MULTIMEDIA • BUSINESS About Us Terms & Conditions Need help? Reach us here. Advertise with us Privacy Policy � Sign up for our daily newsletter Enter your e-mail Sign up More newsletters By registering, you agree to our T&C and Privacy Policy. MCI (P) 076/10/2022, MCI (P) 077/10/2022. Published by SPH Media Limited, Co. Regn. No. 202120748H. Copyright © 2023 SPH Media Limited. All rights reserved.