Table of Contents
AMENDMENT AND SUPPLEMENT TO
OFFER TO PURCHASE FOR CASH
ALL ISSUED AND OUTSTANDING COMMON SHARES
US$6.75 Net Per Share
SEMBCORP UTILITIES PTE LTD.
a wholly-owned subsidiary of
SEMBCORP INDUSTRIES LTD.
The offer is being made pursuant to (i) the Offer to Purchase dated May 21, 2010 (as amended and supplement from time to
time, the “Offer to Purchase”), (ii) this amendment and supplement to the Offer to Purchase (the “Supplement”) and (iii) and
the accompanying Amended and Restated Letter of Transmittal. 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.
(“Parent”), a public company limited by shares, incorporated under the laws of Singapore and listed on the main board of the
Singapore Exchange, is offering to purchase all of the issued and outstanding common shares, par value €0.50 per share
(each, a “Share” and collectively, the “Shares”) of Cascal N.V. (the “Company”), a public limited liability company
( naamloze vennootschap ) organized under the laws of The Netherlands, at a price of 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 herein as the “Offer Price”), upon the terms and subject to the conditions set forth in this Supplement
and the Offer to Purchase and, in the case of Shares other than Dutch Registered Shares (as defined below), the
accompanying Amended and Restated Letter of Transmittal (which together, and as they may be amended and supplemented
from time to time, constitute the “Offer”).
On April 26, 2010, Purchaser, Biwater Investments Ltd., a limited company existing under the laws of England & Wales and
majority stockholder of the Company (the “Stockholder”), and Biwater Holdings Limited, a limited company existing under