1. Who is HWT's Unit Registrar? HWT's Unit Registrar is Boardroom Corporate & Advisory Services Pte. Ltd. Member of Boardroom Limited They can be contacted at (65) 6536 5355 2. What does HWT do? HWT is the first global pure water-play business trust to be listed on a securities exchange in Asia that provides investors with an opportunity to invest in water-related infrastructure assets in the PRC, India, Middle East and North Africa ("MENA") and other high-growth markets globally. HWT's Initial Portfolio will, immediately upon listing, have 13 plants, comprising three WTPs, eight WWTPs and two WRPs. Each of the SPCs owning the plants has entered into a long-term Concession Agreement of between 20 to 30 years. In addition, SPCs owning WTPs and WRPs which are operating plants have water supply agreements with relevant local government authorities. 3. What is your Initial Portfolio? HWT's Initial Portfolio will, immediately upon listing, have 13 plants, comprising three WTPs, eight WWTPs and two WRPs. As at 3 December 2007, seven of the plants in the Initial Portfolio will have commenced commercial operations and the remaining six plants are expected to commence commercial operations by the end of FY2008. ^ top 4. Who is the Sponsor and who is the trustee-manager of this trust? HWT is sponsored by Hyflux Ltd. HWT's business will be managed by the Hyflux Water Trust Management Pte Ltd ("Trustee-Manager") a wholly-owned subsidiary of the Sponsor, and will be run by an experienced investment management team. The Management Team is highly experienced in deal origination, structuring, execution, project financing, equity investing and managing water and other infrastructure assets, in locations such as the PRC, Singapore, India and MENA. HWT will benefit from the expertise and broad experience of the Trustee-Manager's CEO, Mr Saud Siddique, who has 25 years of experience in international banking and finance, as well as economic consulting, and in structuring and investing in water, and other infrastructure projects and companies globally. Trustee-Manager's CFO and CIO, Ms Grace Goh, who has been involved in the water infrastructure sector for over five years and had played a key role in contributing to the Sponsor's growth in the PRC, India and MENA markets as the Sponsor's former Group CFO and in other senior management roles. She also has more than 15 years of experience in financial management and control as well as in external and internal audit. ^ top 5. Why should investors invest in HWT? HWT is the first pure-play global water business trust to be listed in Asia Strong growth in the water infrastructure asset sector - Strong market fundamentals in the water sector in the PRC, India and MENA region - Overall positive outlook on global water sector, underpinned by environmental, societal  and technological drivers Long-term, regular and predictable cash flows from a high quality Initial Portfolio Positioned to deliver growth - Organic growth - "In-built" capacity expansion pipeline - Expansion of HWT's portfolio through the ROFOAR and other acquisitions Strong track record of and commitment by the Sponsor - Synergistic business models of HWT and the Sponsor - Commitment of the Sponsor Strength of Board and Management Team Attractive structure - Debt-free capital structure as at Listing - Trustee-Manager's fee structure linked to operating performance of HWT - Strong corporate governance - No Singapore tax on distributions to Unitholders 6. What are your business/growth strategies? The principal objective of HWT is to become a leading investor of water-related infrastructure assets in PRC and globally and to provide Unitholders with long-term, regular and predictable distributions from its portfolio of water-related infrastructure assets. To achieve this, the Trustee-Manager will focus on the following business strategies: Strategically expand the size of HWT's portfolio of water-related infrastructure assets - ROFOAR granted by Sponsor - External party acquisitions Maintain a portfolio of high quality assets Maintain prudent capital structure ^ top 7. Who are your major shareholders? Our major shareholders include the Hyflux Water Projects Ltd as well as Fidelity Investments Management (Hong Kong) Limited, our cornerstone investor. 8. When does HWT's financial year begin and end? Our financial year begins on January 1 and ends on December 31. 9. How often does HWT release its financial results? We release our financial results on a quarterly basis. 10. When is HWT's Annual General Meeting? Shareholders will be informed about our AGM via our Annual Report, our advertisements with SPH papers and an announcement via SGXNET. ^ top 11. How can I obtain a copy of HWT's annual report? As HWT is newly listed, we do not have an annual report yet. We will provide the link to our annual report when it is ready. 12. What is your profit and revenue forecast for the next two years? FY 2008 forecast: Profit $ 834,000; Revenue $51.63m; DPU 4.46 cents (Subject to assumptions contained in the prospectus) FY 2009 forecast: Profit $4.73m; Revenue $30.56m; DPU 5.26 cents (Subject to assumptions contained in the prospectus) ^ top 13. What sort of returns should investors expect from HWT? Forecast DPU of HWT for FY2008 & FY2009: (1) The Forecast DPU for Forecast Year 2008 is subject to the assumptions contained in the Prospectus and is shown after giving effect to the waiver by the Sponsor SPV (as defined in the Prospectus) of its entitlement to distributions payable in respect of all the Sponsor Units (as defined in the Prospectus). Before giving effect to the waiver by the Sponsor SPV, the Forecast DPU for Forecast Year 2008 is 3.34 Cents. See "Profit Forecast and Profit Projection" in the Prospectus for more information. (2) The Forecast DPU for Projection Year 2009 is subject to the assumptions contained in the Prospectus. See "Profit Forecast and Profit Projection" in the Prospectus for more information. HWT's first distribution after the Listing Date will be for the six-month period from 1 January 2008 to 30 June 2008 and will be paid by the Trustee-Manager. Subsequent distributions will take place on a semi-annual basis. All distributions will be paid within 90 days after the end of each distribution period. ^ top 14. Where are HWT's units traded? HWT's units are traded in Singapore on the Main Board of SGX-ST. 15. How can I buy HWT's units in Singapore? Trading of HWT units in Singapore is scripless, and HWT Units can be purchased/sold through any Singapore securities firm. The minimum trading size for HWT is 1,000 units. 16. When was HWT listed and at what price? HWT was listed on 3 December 2007; its IPO Offering Price is S$0.78 per Unit. ^ top 17. Where can I get the latest unit price of HWT? The latest prices can be obtained via this link. 18. What are the Reuters and Bloomberg codes for HWT? Reuters: HYWT.SI Bloomberg: HYFT SP 19. Can I buy the units directly from HWT? No. HWT does not offer a direct purchase plan. If you are interested in purchasing units in HWT, please consult a stockbroker. ^ top 20. How frequently does HWT make distributions to its Unitholders? - HWT makes distributions to its Unitholders on a semi-annual basis. - The distributions are calculated as at 30 June and 31 December each year for the six-month period ending on each of the said dates. 21. When will the distributions be paid? - Distributions will be paid within 90 days after the end of each distribution period. - Therefore, distributions for the six-month ending 30 June will be paid before 30 September and distributions for the six-month ending 31 December will be paid before 31 March the following year. ^ top 22. How do I find out how much distributions were declared by HWT? - Details on the actual half year and full year distributions will be declared in HWT’s 2Q and Full Year Financial Results and Dividend Announcements, which will usually be in August and February respectively. - The following information on the distributions will be declared in the said announcements: a. actual amount of the distribution per unit (“DPU”), b. the book closure date, c. the date of payment of the distribution. 23. What is “book closure date”? - The “book closure date” is the date that the Transfer Books and Register of HWT will be closed for the purpose of determining each Unitholder’s entitlement to the distributions. ^ top 24. How do I know if I am entitled to distributions as a unitholder? - Unitholders whose Securities Accounts with The Central Depository (Pte) Limited (“CDP”) are credited with units on the book closure date will be entitled to the distributions declared for the relevant period. 25. Why were there no distributions for the period ended 31 December 2007? - As per our Prospectus, the first distribution after our listing on 3 December 2007 will be for the period from 1 January 2008 to 30 June 2008. Therefore, no distributions were made for the period ended 31 December 2007. ^ top 26. Will HWT make any quarterly distributions to its Unitholders? - HWT makes distributions to its Unitholders on a semi-annual basis. - Therefore, the 1Q & 2Q distributions will be made together before 30 September and the 3Q & 4Q distributions will be made together before 31 March the following year. 27. Is the forecast 1H FY2008 DPU of 2.09 cents in addition to the Q1 FY2008 DPU of 0.87 cents that was announced in the First Quarter FY2008 Financial Results and Dividend Announcement? - The forecast 1H FY2008 DPU of 2.09 cents is inclusive of the 1Q FY2008 DPU of 0.87 cents. ^ top 28. Why is the forecast 1H FY2008 DPU of 2.09 cents disclosed in the First Quarter FY2008 Financial Results and Dividend Announcement more than the forecast 1H FY2008 DPU of 1.91 cents disclosed in the Prospectus? - In the Prospectus, HWT had forecast a 1H FY2008 DPU of 1.91 cents, assuming the over-allotment option was exercised and Hyflux Ltd (the “Sponsor”) would hold 75 million units, representing 25% interest in HWT, and after taking into effect the Sponsor’s waiver of its distribution entitlement. - The over-allotment option was eventually not exercised and the Sponsor currently holds 94.5 million units, representing 31.5% interest in HWT. The forecast 1H FY2008 DPU, after taking into effect the Sponsor’s current interest in HWT and waiver of its distribution entitlement, is therefore 2.09 cents. 29. Is there any change to the FY2008 DPU of 4.46 cents as disclosed in the Prospectus? - In the Prospectus, HWT had forecast FY2008 DPU of 4.46 cents, assuming the over-allotment option was exercised and Hyflux Ltd (the “Sponsor”) would hold 75 million units, representing 25% interest in HWT, and after taking into effect the Sponsor’s waiver of its distribution entitlement. - The over-allotment option was eventually not exercised and the Sponsor currently holds 94.5 million units, representing 31.5% interest in HWT. The forecast FY2008 DPU, after taking into effect the Sponsor’s current interest in HWT and waiver of its distribution entitlement, is therefore 4.88 cents. ^ top 30. Where is HWT's headquarters? We are located at: Hyflux Water Trust Management Pte. Ltd. Hyflux Building 202 Kallang Bahru Singapore 339339 31. Who can I contact if I have questions on HWT? For enquiries, please contact (65) 6499 5000 or send an email to enquiry@hyfluxwatertrust.com   ^ top