ST ENGINEERING’S AEROSPACE ARM SIGNS NEW CONTRACTS WORTH $430M IN 2Q2013

Singapore, 11 July 2013 – Singapore Technologies Engineering Ltd (ST Engineering) today announced that its aerospace arm, Singapore Technologies Aerospace Ltd (ST Aerospace) has signed new contracts worth about $430m in the second quarter of 2013. The contracts are for airframe, component and engine maintenance, as well as VIP interior modifications.

The total contract value includes the exclusive component Maintenance-By-the-Hour contract worth $32.25m awarded by Spring Airlines Japan, as well as the five-year Multi-crew Pilot Licence training contract from Qatar Airways announced in June 2013.

In the VIP cabin reconfiguration business, ST Aerospace scaled new heights with the clinching of three deals involving Boeing Business Jets (BBJ): a cabin design contract in Eastern Europe, a 12-year maintenance check and interior refurbishment project on a Boeing 737 belonging to a returning Middle Eastern customer, as well as a maintenance and interior modification contract awarded by a US customer.

In the second quarter, ST Aerospace redelivered a total of 185 aircraft for airframe maintenance and modification work in the past quarter. This is in addition to the five Boeing 757-200 passenger-to-freighter conversions completed through its global MRO network. Besides airframe redeliveries, the aerospace sector processed 7,098 components, 53 landing gears, 63 engines and conducted 2,502 engine washes for both commercial and military customers.

ST Aerospace is proud and honoured to receive the following international awards in the second quarter:

• Top Airframe MRO[i] company with a total of 11.5m manhours in 2012
• ATE&M Best AsiaAirframe MRO Provider of the Year[ii]
• LIMA 2013 ASEAN Airframe MRO Service Provider of the Year[iii]
As part of the company’s march to further expand its capabilities, ST Aerospace recently embarked on three new initiatives. The first is the inking of two long-term agreements with UTC Aerospace Systems for the Boeing 787 Dreamliner aircraft: one to provide maintenance, repair and overhaul (MRO) services on the nacelle systems for both the Rolls-Royce Trent 1000 and General Electric GEnx engines; and the other to provide component MRO services on Hamilton Sundstrand components which will ensure a substantial coverage of component support for Boeing 787 operators.

The second initiative involves the launch of a 16-month development effort for the enhancement of its current suite of Boeing 757 freighter conversion solutions. This will eventually lead to a Supplemental Type Certificate to include Boeing 757 aircraft with winglets, at the same time, cater for a 15-pallet cargo configuration with an additional pallet position. This broadens the current range of ST Aerospace’s technical solutions for customers worldwide.

The third sees ST Aerospace San Antonio acquire substantially all of the assets of Turbo Mach. Based in San Antonio, Texas, Turbo Mach is a designer and manufacturer of composite components and assemblies for the aerospace industry. With this acquisition, ST Aerospace will be able to extend its value chain and improve its capability offerings with a robust suite of cabin interior services.

In other developments, ST Aerospace obtained three additional industry certifications and appointments. Its Singapore-based airframe maintenance facility and US affiliate in San Antonio received Part 145 certifications from Australia’s Civil Aviation Safety Authority and Mexico’s Directorate General of Civil Aviation respectively. ST Aerospace’s component repair and overhaul facility has also been appointed by CEF Industries, LLC as an authorised repair station for a wide range of mechanical/electro-mechanical components. These components are used on Lockheed C-130 Hercules, Bombardier Canadair Regional Jet, Embraer 170/190, Airbus A319/320/321/330/340/380 aircraft and range from flight control actuators, gear boxes for actuation drive systems, ball screws, landing lights to compressors for potable and waste water systems.

The developments are not expected to have any material impact on the consolidated net tangible assets per share and earnings per share.