Trust Structure

Notes:

1The acquisition of a 51% stake in Keppel Merlimau Cogen Pte. Ltd. (KMC) was completed on 30 June 2015. Keppel Energy holds the remaining 49% equity interest in KMC.

2Osaka Gas Singapore Pte. Ltd. holds the remaining 49% equity interest in City-OG Gas Energy Services.

3Hyflux Ltd holds the remaining 30% equity interest in SingSpring.

4WDC Development Pte. Ltd. holds the remaining 49% equity interest in DC One.

5The above unitholdings are based on the trust structure as at 30 June 2015.

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