Report of the Independent Auditors on the Group Financial Summary as at and for financial years ended 31 March 2021 to 2025

We are the auditors of Temasek Holdings (Private) Limited (“Temasek”). We have audited the statutory consolidated financial statements of Temasek and its subsidiaries (the “Group”) for the financial years ended 31 March 2021 to 2025 and have issued unmodified audit reports¹. 

Under the Companies Act 1967, Temasek is an exempt private company and is not required to publish its statutory consolidated financial statements.

Management is responsible for the preparation and presentation of the Group Financial Summary as at and for financial years ended 31 March 2021 to 2025. The Group Financial Summary consists of the Group Income Statements, Group Balance Sheets and Group Cash Flow Statements as at and for the financial years ended 31 March 2021 to 2025 and Group Statements of Changes in Equity for the financial years ended 31 March 2024 and 2025, which is derived from the statutory consolidated financial statements that were prepared in accordance with applicable financial reporting standards, for inclusion in the Temasek Corporate Website. The Group Financial Summary does not contain all the disclosures required by the applicable financial reporting standards applied in the preparation of the statutory consolidated financial statements. Reading the Group Financial Summary, therefore, is not a substitute for reading the statutory consolidated financial statements.

Our responsibility is to express an opinion on whether the Group Financial Summary as at and for financial years ended 31 March 2021 to 2025 is consistent, in all material respects, with the statutory consolidated financial statements based on our procedures, which were conducted in accordance with Singapore Standard on Auditing (SSA) 810 (Revised) - Engagements to Report on Summary Financial Statements.

In our opinion, the accompanying Group Financial Summary as at and for financial years ended 31 March 2021 to 2025 is consistent, in all material respects, with the statutory consolidated financial statements for the financial years ended 31 March 2021 to 2025.

KPMG LLP
Public Accountants and Chartered Accountants
Singapore
30 June 2025

¹ Audit reports for each of the financial years were dated 28 June 2021, 27 June 2022, 3 July 2023, 1 July 2024 and 30 June 2025 respectively.