OFFER TO PURCHASE FOR CASH
ALL ISSUED AND OUTSTANDING COMMON SHARES
US$6.75 Net Per Share in Cash
SEMBCORP UTILITIES PTE LTD.
a wholly-owned subsidiary of
SEMBCORP INDUSTRIES LTD.
THE OFFER AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK
CITY TIME, ON THURSDAY, JULY 8, 2010, UNLESS THE OFFER IS EXTENDED.
June 30, 2010
To Our Clients:
Enclosed for your consideration are the Amendment and Supplement to Offer to Purchase dated June 30, 2010 (the
“Supplement”), which amends and supplements the Offer to Purchase dated May 21, 2010 (together as amended from time to
time, the “Offer to Purchase”) and the related Amended and Restated Letter of Transmittal (which, together with the Offer to
Purchase and any amendments or supplements hereto or thereto, collectively constitute the “Offer”) in connection with the
offer by Sembcorp Utilities Pte Ltd. (“Purchaser”), a private company limited by shares, incorporated under the laws of
Singapore and a wholly-owned subsidiary of Sembcorp Industries Ltd., a public company limited by shares, incorporated under
the laws of Singapore and listed on the main board of the Singapore Exchange, to purchase all issued and outstanding common
shares, par value €0.50 per share (the “Shares”), of Cascal N.V., a public limited liability company ( naamloze vennootschap )
organized under the laws of The Netherlands (the “Company”), at US$6.75 per Share, net to the seller in cash, without interest
(subject to applicable withholding taxes) (that price, or any other price per Share as may be paid in the Offer, is referred to in this
document as the “Offer Price”), upon the terms and subject to the conditions set forth in the Offer to Purchase.
We are the holder of record of the Shares held for your account. A tender of such Shares can be made only by us as the
holder of record and pursuant to your instructions. The enclosed Amended and Restated Letter of Transmittal is furnished to
you for your information only an