Offering Circular Following This Page, and You Are Therefore Advised to Read This Carefully Before Reading, Accessing Or Making Any Other Use of the Offering Circular

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Offering Circular Following This Page, and You Are Therefore Advised to Read This Carefully Before Reading, Accessing Or Making Any Other Use of the Offering Circular IMPORTANT NOTICE NOT FOR DISTRIBUTION TO ANY PERSON OR ADDRESS IN THE UNITED STATES OR, IN RESPECT OF ANY OFFERING OF NOTES UNDER CATEGORY 2 OF REGULATION S OF THE SECURITIES ACT, TO ANY U.S. PERSON. IMPORTANT: You must read the following before continuing. The following applies to the offering circular following this page, and you are therefore advised to read this carefully before reading, accessing or making any other use of the offering circular. In accessing the offering circular, you agree to be bound by the following terms and conditions, including any modifications to them any time you receive any information from us as a result of such access. NOTHING IN THIS ELECTRONIC TRANSMISSION CONSTITUTES AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DO SO. THE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE SECURITIES ACT), OR THE SECURITIES LAWS OF ANY STATE OF THE U.S. OR OTHER JURISDICTION AND THE SECURITIES MAY NOT BE OFFERED OR SOLD WITHIN THE U.S. OR, IN RESPECT OF ANY OFFERING OF SECURITIES UNDER CATEGORY 2 OF REGULATION S OF THE SECURITIES ACT, TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT), EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND APPLICABLE STATE OR LOCAL SECURITIES LAWS. THE FOLLOWING OFFERING CIRCULAR MAY NOT BE FORWARDED OR DISTRIBUTED TO ANY OTHER PERSONAND MAY NOT BE REPRODUCED INANY MANNER WHATSOEVER AND IN PARTICULAR, MAY NOT BE FORWARDED TO ANY U.S. PERSON OR, IN RESPECT OF ANY OFFERING OF SECURITIES UNDER CATEGORY 2 OF REGULATION S OF THE SECURITIES ACT, TO ANY U.S. ADDRESS. ANY FORWARDING, DISTRIBUTION OR REPRODUCTION OF THIS DOCUMENT IN WHOLE OR IN PART IS UNAUTHORISED. FAILURE TO COMPLY WITH THIS DIRECTIVE MAY RESULT IN A VIOLATION OF THE SECURITIES ACT OR THE APPLICABLE LAWS OF OTHER JURISDICTIONS. Confirmation of your Representation: In respect of any offering of securities under Category 2 of Regulation S of the Securities Act, in order to be eligible to view this offering circular or make an investment decision with respect to the securities, investors must not be U.S. persons (within the meaning of Regulation S under the Securities Act). This offering circular is being sent at your request and by accepting the e-mail and accessing this offering circular, you shall be deemed to have represented to the Issuers, the Guarantor, and the Arrangers and Dealers (as such terms are defined in this offering circular) that (1) the electronic mail address that you gave us and to which this e-mail has been delivered or being accessed is not located in the United States, and, in respect of any offering of securities under Category 2 of Regulation S of the Securities Act, you are not a U.S. person nor are you acting on behalf of a U.S. person and, to the extent you purchase the securities described in the attached document, you will be doing so pursuant to Regulation S under the Securities Act and (2) you consent to delivery of such offering circular and any amendments and supplements thereto by electronic transmission. You are reminded that this offering circular has been delivered to you on the basis that you are a person into whose possession this offering circular may be lawfully delivered in accordance with the laws of the jurisdiction in which you are located and you may not, nor are you authorised to, deliver this offering circular to any other person. The materials relating to the offering do not constitute, and may not be used in connection with, an offer or solicitation in any place where offers or solicitations are not permitted by law. If a jurisdiction requires that the offering be made by a licensed broker or dealer and any of the Dealers or any affiliate of any of the Dealers is a licensed broker or dealer in that jurisdiction, the offering shall be deemed to be made by such Dealer or such affiliate on behalf of the Issuer in such jurisdiction. The attached document has been made available to you in electronic form. You are reminded that documents transmitted via this medium may be altered or changed during the process of transmission and consequently neither the Issuers, the Guarantor, the Arrangers, the Dealers and any Agent (each as defined in this offering circular) nor any of their respective employees, representatives or affiliates accepts any liability or responsibility whatsoever in respect of any discrepancies between the document distributed to you in electronic format and the hard copy version available on request. You are responsible for protecting against viruses and other destructive items. If you receive this document by e-mail, your use of this e-mail is at your own risk and it is your responsibility to take precautions to ensure that it is free from viruses and other items of a destructive nature. OFFERING CIRCULAR ST ENGINEERING RHQ LTD. (incorporated with limited liability in England under the Companies Act 1985) (Company number: 02334137) ST ENGINEERING TREASURY PTE. LTD. (incorporated with limited liability in Singapore) (UEN/Company registration number: 201803324N) S$5,000,000,000 Multicurrency Medium Term Note Programme unconditionally and irrevocably guaranteed by SINGAPORE TECHNOLOGIES ENGINEERING LTD (incorporated with limited liability in Singapore) (UEN/Company registration number: 199706274H) Under this S$5,000,000,000 Multicurrency Medium Term Note Programme (the Programme), each of ST Engineering RHQ Ltd. (STE UK-Co), ST Engineering Treasury Pte. Ltd. (STE SG-Co) and any New Issuer (as defined herein) (each an Issuer and together, the Issuers), subject to compliance with all relevant laws, regulations and directives, may from time to time issue notes (the Notes) denominated in any currency agreed between the relevant Issuer and the relevant Dealer (as defined below). The payments of all amounts due in respect of the Notes will be unconditionally and irrevocably guaranteed by Singapore Technologies Engineering Ltd (the Guarantor or STE). The Programme Agreement (as defined herein) and Agency Agreement (as defined in the Conditions (as defined below)) each contains provisions enabling the Guarantor to, from time to time, nominate any Subsidiary (as defined in the Conditions) of the Guarantor as an additional issuer (a New Issuer) under the Programme to issue Notes. It is intended that such New Issuer shall accede to the terms of the Programme by executing, new, supplemental, amended and/or restated contractual documents, as appropriate, and thereafter shall become, and be treated as, an issuer for the purpose of the Programme. The maximum aggregate nominal amount of all Notes from time to time outstanding under the Programme will not exceed S$5,000,000,000 (or its equivalent in other currencies calculated as described in the Programme Agreement), subject to increase as described herein. The Notes may be issued on a continuing basis to one or more of the dealers specified under “Overview of the Programme” and any additional dealer appointed under the Programme from time to time by the relevant Issuer (each a Dealer and together the Dealers), which appointment may be for a specific issue or on an ongoing basis. References in this Offering Circular to the relevant Issuer shall be to STE UK-Co, STE SG-Co or such New Issuer, as the case may be, as the issuer of the Notes under the Programme as specified in the applicable Pricing Supplement (as defined herein), and references to the relevant Dealer shall, in the case of an issue of Notes being (or intended to be) subscribed by more than one Dealer, be to all Dealers agreeing to subscribe such Notes. An investment in Notes issued under the Programme involves certain risks. For a discussion of these risks, see “Risk Factors”. Application has been made to the Singapore Exchange Securities Trading Limited (the SGX-ST) for the listing and quotation of the Programme. Application will be made to the SGX-ST for permission to deal in and the listing and quotation of any Notes that may be issued pursuant to the Programme and which are agreed on or prior to the time of issue thereof to be so listed on the SGX-ST. Such permission will be granted when such Notes have been admitted to the Official List of the SGX-ST. The SGX-ST assumes no responsibility for the correctness of any of the statements made or opinions expressed or reports contained in this Offering Circular. There is no assurance that the application to the SGX-ST for the listing of any Notes will be approved. Admission to the Official List of the SGX-ST and quotation of any Notes on the SGX-ST are not to be taken as an indication of the merits of the relevant Issuer, the Guarantor, the Programme or the Notes. The Programme provides that Notes may be listed or admitted to trading, as the case may be, on such other or further stock exchanges or markets as may be agreed between the relevant Issuer, the Guarantor and the relevant Dealer. The relevant Issuer may also issue Notes which are unlisted and/or not admitted to trading on any market. Each Tranche (as defined in the Conditions) of Notes of each Series (as defined in the Conditions) of Notes in bearer form will be represented on issue by a temporary global note in bearer form (each a Temporary Global Note) or a permanent global note in bearer form (each a Permanent Global Note and, together with the Temporary Global Note, each a Bearer Global Note).
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