THE MONETARY AUTHORITY OF SINGAPORE - …

1 THE MONETARY AUTHORITY OF SINGAPORE02 Jul 18 Application for SINGAPORE Savings Bonds ("Savings Bonds")TenorApproximately 10 YearsMaximum Amount Offered1 SGD 250,000,000 Minimum DenominationSGD 500 Issue CodeGX18080 FISIN CodeSG7ID5000005 Issue Date/Settlement Date201 August 2018 Maturity Date201 August 2028 Coupon RatePer Table 1 Coupon Payment Dates201 August and 01 FebruaryFirst Coupon Payment Date201 February 2019 calculated from Issue DateMethod of SaleQuantity Ceiling FormatEligible ApplicantsOnly natural persons ("Individuals") areeligible to apply for Savings holdings limitacross all Savings BondsSGD 100,000 Closing Date of Applicationfor pm, 26 July 2018 Mode of Application forIndividuals3 DBS/POSB, OCBC and UOB ATMs andInternet Banking OCBC Mobile Application No Transfer or Pledge: Savings Bonds may not be transferred or pledgedwithout the prior approval of the MONETARY AUTHORITY of SINGAPORE ("MAS").Savings Bonds transferred or pledged without MAS' prior approval may beredeemed by MAS from the transferee or pledgee.

2 Table 1: Coupon Payment Schedule of GX18080 FYear*1st2nd3rd4th5th6th7th8th9th10thCou pon, % return,%** *From Issue Date **At the end of each year, on a compounded basis This is a public notice issued pursuant to Section 30 of the GovernmentSecurities Act. By subscribing to the Savings Bonds, you shall be deemed to have understood,accepted, and be bound by, the terms and conditions of the Savings Bonds onthe date of issuance of the Savings Bonds to you. MAS also invites applications from bondholders to redeem outstanding SavingsBonds at face value plus accrued interest. For avoidance of doubt, post-redemption, the bondholder shall no longer be entitled to any further interestpayments for redeemed Savings Bonds. Redemption applications should besubmitted to banks by on 26 July 2018. Successful redemptionapplications will be effected on 01 August 20182,3. Redemption proceeds maytake up to one additional working day to be credited to individual bankaccounts.

3 Savings Bonds are taxable, non-transferable, book-entry SINGAPORE GovernmentSecurities ("SGS"). Please note that this SGS issue is a "Qualifying DebtSecurity" ("QDS") eligible for the tax incentives approved by the Minister forFinance for QDS issued up till 31 December 2023. More information on QDSincentives is available at exemption shall not apply on interest, discount, break cost, prepayment feeor redemption premium derived from QDS issued up till 31st December 2023by any non-resident investor who carries on any operation in SINGAPORE througha permanent establishment in SINGAPORE , if the debt securities are purchasedusing funds from SINGAPORE operations. Persons who are not exempted from taxare required to declare their income received from the debt securities in theirincome tax returns. 1 The total amount issued may be less than the maximum amount offered if totaleligible subscriptions are less than the maximum amount offered. 2 Where the issue/settlement date, coupon payment, redemption or maturity datespecified above falls on a day that the electronic payment system, established bythe MAS, is not in operation, issuance/settlement, coupon payment orredemption, as the case may be, will be effected on the next day when theelectronic payment system is in operation.

4 3 Banks must submit individuals' applications to MAS via the Savings BondsApplication by on the day of allotment, 27 Jul 2018.