#1Q4 2021 Earnings Call March 2022 Grab Grab Gra#2Disclaimer Forward-Looking Statements This presentation (this "Presentation") and the announced investor webcast contain "forward-looking statements" within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contained in this presentation and the webcast, including but not limited to, statements about Grab's beliefs and expectations, business strategy and plans, objectives of management for future operations of Grab, and growth opportunities, are forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including "anticipate," "expect," "suggest," "plan," "believe," "intend," "estimate," "target," "project," "should," "could," "would," "may," "will," "forecast" or other similar expressions. Forward-looking statements are based upon estimates and forecasts and reflect the views, assumptions, expectations, and opinions of Grab, which involve inherent risks and uncertainties, and therefore should not be relied upon as being necessarily indicative of future results. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to: Grab's ability to grow at the desired rate or scale and its ability to manage its growth; its ability to further develop its business, including new products and services; its ability to attract and retain partners and consumers; its ability to compete effectively in the intensely competitive and constantly changing market; its ability to continue to raise sufficient capital; its ability to reduce net losses and the use of partner and consumer incentives, and to achieve profitability; potential impact of the complex legal and regulatory environment on its business; its ability to protect and maintain its brand and reputation; general economic conditions, in particular as a result of COVID-19; expected growth of markets in which Grab operates or may operate; and its ability to defend any legal or governmental proceedings instituted against it. In addition to the foregoing factors, you should also carefully consider the other risks and uncertainties described in the "Risk Factors" section of Grab's registration statement on Form F-1 and the prospectus therein, and other documents filed by Grab from time to time with the U.S. Securities and Exchange Commission (the "SEC"). Forward-looking statements speak only as of the date they are made. Grab does not undertake any obligation to update any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as required under applicable law. Unaudited Financial Information and Non-IFRS Financial Measures Grab's unaudited selected financial data for the three months and year ended December 31, 2021 and 2020 included in this presentation and the investor webcast is based on financial data derived from the Grab's management accounts that have not been reviewed or audited. This presentation and the investor webcast also include references to non-IFRS financial measures, which include: Adjusted EBITDA, Total Segment Adjusted EBITDA and Segment Adjusted EBITDA. However, the presentation of these non-IFRS financial measures is not intended to be considered in isolation from, or as an alternative to, financial measures determined in accordance with IFRS. In addition, these non-IFRS financial measures may differ from non-IFRS financial measures with comparable names used by other companies. Grab uses these non-IFRS financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons, and Grab's management believes that these non-IFRS financial measures provide meaningful supplemental information regarding its performance by excluding certain items that may not be indicative of its recurring core business operating results. For example, Grab's management uses: Total Segment Adjusted EBITDA as a useful indicator of the economics of Grab's business segments, as it does not include regional corporate costs. There are a number of limitations related to the use of non-IFRS financial measures. In light of these limitations, we provide specific information regarding the IFRS amounts excluded from these non-IFRS financial measures and evaluate these non-IFRS financial measures together with their relevant financial measures in accordance with IFRS. This presentation and the investor webcast also includes "Pre-InterCo" data that does not reflect elimination of intragroup transactions, which means such data includes earnings and other amounts from transactions between entities within the rab group that are eliminated upon consolidation. Such a differs materially from the corresponding figures post-elimination of intra-group transaction Explanation of non-IFRS financial measures: Adjusted EBITDA is a non-IFRS financial measure calculated as net loss adjusted to exclude: (i) interest income (expenses), (ii) other income (expenses), (iii) income tax expenses (credit), (iv) depreciation and amortization, (v) stock-based compensation expenses, (vi) costs related to mergers and acquisitions, (vii) unrealized foreign exchange gain (loss), (viii) impairment losses on goodwill and non-financial assets, (ix) fair value changes on investments, (x) restructuring costs, (xi) legal, tax and regulatory settlement provisions and (xii) share listing and associated expenses. Segment Adjusted EBITDA is a non-IFRS financial measure, representing the Adjusted EBITDA of each of our four business segments, excluding, in each case, regional corporate costs. Adjusted EBITDA margin is a non-IFRS financial measure calculated as Adjusted EBITDA divided by Gross Merchandise Value. 2#3Disclaimer Operating Metrics Gross Merchandise Value (GMV) is an operating metric representing the sum of the total dollar value of transactions from Grab's services, including any applicable taxes, tips, tolls and fees, over the period of measurement. GMV is a metric by which Grab understands, evaluates and manages its business, and Grab's management believes is necessary for investors to understand and evaluate its business. GMV provides useful information to investors as it represents the amount of a consumer's spend that is being directed through Grab's platform. This metric enables Grab and investors to understand, evaluate and compare the total amount of customer spending that is being directed through its platform over a period of time. Grab presents GMV as a metric to understand and compare, and to enable investors to understand and compare, Grab's aggregate operating results, which captures significant trends in its business over time. Monthly Transacting User (MTU) is defined as the monthly transacting users, which is an operating metric defined as the monthly number of unique users who transact via Grab's products, where transact means to have successfully paid for any of Grab's products. MTU is a metric by which Grab understands, evaluates and manages its business, and Grab's management believes is necessary for investors to understand and evaluate its business. Commission Rate represents the total dollar value paid to Grab in the form of commissions and fees from each transaction, without any adjustments for incentives paid to driver- and merchant-partners or promotions to end-users, as a percentage of GMV, over the period of measurement. Partner incentives is an operating metric representing the dollar value of incentives granted to driver- and merchant-partners. The incentives granted to driver- and merchant-partners include base incentives and excess incentives, with base incentives being the amount of incentives paid to driver- and merchant-partners up to the amount of commissions and fees earned by Grab from those driver- and merchant-partners, and excess incentives being the amount of payments made to driver- and merchant-partners that exceed the amount of commissions and fees earned by Grab from those driver- and merchant-partners. Consumer incentives is an operating metric representing the dollar value of discounts and promotions offered to consumers. Partner incentives and consumer incentives are metrics by which we understand, evaluate and manage our business, and we believe are necessary for investors to understand and evaluate our business. We believe these metrics capture significant trends in our business over time. Industry and Market Data This Presentation also contains information, estimates and other statistical data derived from third party sources, including research, surveys or studies, some of which are preliminary drafts, conducted by third parties, information provided by customers and/or industry or general publications. Such information involves a number of assumptions and limitations, and you are cautioned not to give undue weight on such estimates. Grab has not independently verified such third-party information, and makes no representation as to the accuracy of such third-party information. 3#41 Business Update 2 Financial Results 3 Outlook 4 Non-IFRS Reconciliation Sta 4#5Our Key Business Priorities Winning hearts & minds Further solidify our category position Nasi Lemak KNO Grob Grob Food Grob L Concept Plippine Investing for growth Continue to drive growth in our user- base and wallet share Reducing cost to serve Rapidly expand our ecosystem with our Superapp flywheel 5#6Business Update Home 9:41 Q Looking for something? Food Balance S$ 52.80 SAMSUNG 4 Order food again Activity Mart Say hello to the pride and joy of your smart home Sponsored by Samsung G The heart of your smart home Introducing the new Farly Nub series Payment Express Transport Use Points 3,800 all Account 늘 SC G 6#7Resilient growth despite challenges in FY21 Gross Merchandise Value(1) +29% YoY (2021 vs. 2020) Gross Merchandise Value(1) per Monthly Transacting User(2) +31% YOY (2021 vs. 2020) Deliveries Gross Merchandise Value(¹) +56% YOY (2021 vs. 2020) Note: 1. GMV means gross merchandise value, an operating metric representing the sum of the total dollar value of transactions from Grab's services, including any applicable taxes, tips, tolls and fees, over the period of measurement. 2. MTUs means monthly transacting users, which is defined as the monthly number of unique users who transact via Grab's products, where transact means to have successfully paid for any of Grab's products. MTUs over a quarterly or annual period are calculated based on the average of the MTUs for each month in the relevant period 7#8Grab continues to grow strongly in Q4 2021 Gross Merchandise Value(1) +26% YOY (Q4 2021 vs. Q4 2020) Gross Merchandise Value(1) per Monthly Transacting User(2) +23% YOY (Q4 2021 vs. Q4 2020) Deliveries Gross Merchandise Value(1) +52% YoY (Q4 2021 vs. Q4 2020) Note: 1. GMV means gross merchandise value, an operating metric representing the sum of the total dollar value of transactions from Grab's services, including any applicable taxes, tips, tolls and fees, over the period of measurement. 2. MTUs means monthly transacting users, which is defined as the monthly number of unique users who transact via Grab's products, where transact means to have successfully paid for any of Grab's products. MTUs over a quarterly or annual period are calculated based on the average of the MTUs for each month in the relevant period 8#9Business Update Solid beat on top-line vs. outlook Gross Merchandise Value(1) Adjusted EBITDA (²) FY21 Outlook $15.0B - $15.5B N $(0.9)B~ $(0.7)B FY21 Actual $16.1B $(0.8)B Note: 1. GMV means gross merchandise value, an operating metric representing the sum of the total dollar value of transactions from Grab's services, including any applicable taxes, tips, tolls and fees, over the period of measurement 2. Adjusted EBITDA is a non-IFRS financial measure, defined as net loss adjusted to exclude: (i) net interest income (expenses), (ii) other income (expenses), (iii) income tax expenses (credit), (iv) depreciation and amortization, (v) stock-based compensation expenses, (vi) costs related to mergers and acquisitions, (vii) unrealized foreign exchange gain (loss), (viii) impairment losses on goodwill and non-financial assets, (ix) fair value changes on investments, (x) restructuring costs, (xi) legal, tax and regulatory settlement provisions and (xii) share listing and associated expenses. For a reconciliation of FY 2021 Adjusted EBITDA to the most directly comparable IFRS measure see the section titled "Non-IFRS Reconciliation." 9#10Business Update Mobility recovery as lockdowns ease Mobility GMV(1) index (Indexed to 100% Month of Apr-20) Mobility GMV recovering throughout Q4 2021 Tailwinds from gradual easing of lockdowns +83% (Dec-2021 vs. Aug-2021) 1 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Note: 1. GMV means gross merchandise value, an operating metric representing the sum of the total dollar value of transactions from Grab's services, including any applicable taxes, tips, tolls and fees, over the period of measurement 10#11Business Update Recovery in our Monthly Transacting Users Monthly Transacting Users(1) (Grab's Monthly Transacting Users, MTUS) Strong sequential recovery in MTUs throughout Q4 2021 Dec-21 MTUs at its highest level since Mar-20 27.7m (Dec-2021) Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Note: 1. MTU is defined as the monthly number of unique users who transact via Grab's products, where transact means to have successfully paid for any of Grab's products. 11#12Business Update Driver productivity has improved Average Earnings per Hour(¹) +16% (Q4 2021 vs. Q4 2020) Utilization Rate(2) +19% (Q4 2021 vs. Q4 2020) Note: 1. Calculated as the average year-on-year change in driver earnings per transit hour across Singapore, Indonesia, Vietnam, Philippines, Thailand and Malaysia over the measurement period 2. Calculated as the year-on-year change in driver utilization rate. Utilization rate is defined as the proportion of total transit hours from total online hours over the measurement period 12#13Business Update Maintaining our category leadership in 2021 Category share in Southeast Asia (1) vs. next largest competitor in Southeast Asia (1) Online Food Delivery 51% 2.1x Source: Euromonitor Notes: 1. Southeast Asia refers to Indonesia, Malaysia, Singapore, Thailand, Philippines, and Vietnam only. Ride-hailing 71% 3.9x E-wallet 21% 1.3x 13#14Business Update Increasing engagement within our Superapp Users are increasingly using more services... % MTU(¹) split by number of services (2) 3% 18% 79% 2018 +167% Increase 17% 25% 57% 2019 22% 27% 52% 2020 27% 29% 44% 2021 23 offerings 2 offerings 1 offering ...which results in higher retention rates Dec 2021 One-Year Retention Rate (%)(3) 37% 1 offering 57% 74% 86% 2 offerings 3 offerings >3 offerings Note: 1. Defined as the monthly number of unique users who transact via Grab's products, where transact means to have successfully paid for any of Grab's products. Monthly transacting users (MTUS) over a quarterly or annual period are calculated based on the average of the MTUs for each month in the relevant period 2. Figures may not add up to 100% due to rounding 3. The one-year retention rate is calculated as the number of users in December 2020 that had transactions in December 2021, divided by the number of users that had transactions in December 2020. Transact means to have successfully paid for any of Grab's products 14#15Business Update Engaged users spend more GMV per user (1,2) by cohort (3), indexed to year 1 2016 cohort 2017 cohort 2018 cohort 2019 cohort 2020 cohort Year 1 1.00x 1.00x 1.00x 1.00x 1.00x Year 2 1.41x 1.49x 1.62x 1.45x 1.45x Year 3 1.93x 2.19x 2.06x 2.13x Year 4 2.75x 2.78x 3.04x Year 5 3.63x 4.06x Year 6 4.80x Notes: 1. Calculated as GMV per MTU. GMV means gross merchandise value, an operating metric representing the sum of the total dollar value of transactions from Grab's services, including any applicable taxes, tips, tolls and fees, over the period of measurement. Users are defined as MTUS. MTUS means monthly transacting users, which is defined as the monthly number of unique users who transact via Grab's products, where transact means to have successfully paid for any of Grab's products. MTUs over an annual period are calculated based on the average of the MTUs for each month in the relevant period. 2. Includes only mobility and deliveries (excluding non-consumer services such as GrabRentals and Grabkios) 3. A cohort is defined as consumers who use any of the offerings on our platform for the first time in a specific year and continue to use our platform as of 2021. 15#16Deliveries More efficient incentive spend relative to peers Food Deliveries GMV to Cost Ratio Efficiency (1,2) (Based on Grab's estimates and on a per order basis with Grab indexed to 100% in Dec-2021) Thailand +97% Competitor Average Grab Malaysia +39% Competitor Grab Average Vietnam +38% Competitor Average Grab Indonesia +25% Competitor Average Grab Note: 1. Competitor's data are calculated based on Grab's internal estimates, leveraging observable promotions from publicly available sources and consumer survey panels. Competitor averages are calculated as a simple average of GMV to Cost per Order ratios for sizable and significant regional competitors that we monitor in each market. 2. Cost per order defined as Grab's internally estimated (for competitors) and actual (for Grab) consumer incentives and merchant-funded subsidies 16#17Deliveries Behavioral shift in Deliveries adoption Key Deliveries Metrics (US$ Average Order Values (AOV) (1) vs. Transactions per MTU (2)) 2019 2020 2021 Increasing Deliveries adoption throughout COVID From 2019 to 2021, AOVS increased +41% and Transactions per MTUS grew +28% Transactions per MTU Average Order Values (US$) Note: 1. Calculated as the total GMV divided by the number of transactions over the measurement period. 2. Calculated as the number of transactions per MTUs over the measurement period. 17#18Mobility Category leadership with lower incentive spend Singapore Mobility Consumer Incentives (¹) (Consumer Incentives per Ride in Singapore, in US$) Grab continues to be regional category leader in Mobility with 71% category share in 2021(2) Grab's mobility consumer incentive levels have increased in Q4 2021, but estimated to be significantly lower than one of our competitors Promotions per ride >40x higher than Grab Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Note: 1. Competitor's data are based on Grab's internal estimates and based on observable promotions from publicly available sources and consumer survey panels. 2. According to Euromonitor Promotions per ride c. 4x higher than Grab Nov-21 Dec-21 Grab Competitor 18#19Financial Services Key Focus Areas $ Continue to drive usage and adoption Focus on new growth initiatives ~66% On-Grab TPV penetration (¹) in FY 2021 vs. 57% in FY 2020 +5x Growth in BNPL TPV (3) from Q4 2020 to Q4 2021 +22% Q4 2021 YOY % growth in Financial Services MTUS (2) +3x Growth in loans disbursed (4) from Q4 2020 to Q4 2021 Note: 1. Calculated as On-Grab TPV as a percentage of Mobility and Deliveries GMV. 2. MTUs means monthly transacting users, which is defined as the monthly number of unique users who transact via Grab's products, where transact means to have successfully paid for any of Grab's products. MTUs over a quarterly or annual period are calculated based on the average of the MTUs for each month in the relevant period. 3. Calculated as the year-on-year change in TPV (pre-interCo) generated from Buy Now Pay Later. 4. Calculated as the year-on-year change in the value of loans disbursed. 19#20Business Update Acquisition of Jaya Grocer Jaya GROCER BONJOUR ROASTER AVARIN Yay! GrabPay is now accepted here. Cashless, contactless, and waaay more rewarding. GrabRewards with every transaction. SM-Jaya GROCER Poy with GrabPay today. Acquired Jaya Grocer, a leading mass-premium supermarket chain in Malaysia Jaya has 44 physical stores across Malaysia with >30K SKUs and ~1.7k suppliers Roll out of GrabPay and GrabRewards across all Jaya Grocer physical retail stores 20#21Business Update Driving financial inclusion in Southeast Asia Singapore GxS Roll-out of GXS in Singapore within 2022 Indonesia BANK FAMA INTERNATIONAL Grab invested in a 16.26% stake in Bank Fama 21#22Business Update Grab and McDonald's Upsized Partnership Introducing an upsized partnership Brand new payments and rewards experience. Expanded deliveries capabilities. More exciting and exclusive campaigns. Grab m E GrabPay In Singapore, Grab and McDonald's expands partnership beyond GrabFood GrabPay is the first non-bank e-wallet to be accepted as a payment option across all McDonald's stores islandwide 22#23Business Update Starbucks and Grab expand partnership STARBUCKS COFFEE Grab and Starbucks will partner across multiple verticals to enhance the Starbucks Experience for customers in Southeast Asia. Expanded partnership will seamlessly connect in-store and digital experiences through innovative new features 23#24Financial Results Home 9:41 Q Looking for something? Food Balance S$ 52.80 SAMSUNG 4 Order food again Activity Mart Say hello to the pride and joy of your smart home Sponsored by Samsung G The heart of your smart home Introducing the new Farly Nub series Payment Express Transport Use Points 3,800 all Account 늘 SC G 24#25FY 2021 Results Consolidated group $ in millions, unless otherwise stated Operating Metrics GMV(2) MTUS(3) (millions of users) GMV per MTU ($) Partner Incentives (4) Consumer Incentives (5) Financial Measures Revenue Loss for the period Total Segment Adjusted EBITDA(6,8) (non-IFRS) Adjusted EBITDA(7,8) (non-IFRS) FY 2021 (1) 16,061 24.1 666 717 1,065 675 (3,555) (125) (842) FY 2020 (1) 12,492 24.5 509 621 616 469 (2,745) (226) (780) YOY% Change 29% (2)% 31% 15% 73% 44% (30)% 45% (8)% FY 2021 (1) % of GMV 4% 7% 4% (22)% (1)% (5)% FY 2020 (1) 5% 5% 4% (22)% (2)% (6)% Note: 1. Unaudited for FY 2021. For FY 2020, financial measures are audited but operating metrics are unaudited 2. GMV means gross merchandise value, an operating metric representing the sum of the total dollar value of transactions from Grab's services, including any applicable taxes, tips, tolls and fees, over the period of measurement. 3. Defined as the monthly number of unique users who transact via Grab's products, where transact means to have successfully paid for any of Grab's products. Monthly transacting users (MTUS) over a quarterly or annual period are calculated based on the average of the MTUs for each month in the relevant period 4. Partner incentives is an operating metric representing the dollar value of incentives granted to driver- and merchant-partners. The incentives granted to driver- and merchant-partners include base incentives and excess incentives, with base incentives being the amount of incentives paid to driver-and merchant-partners up to the amount of commissions and fees earned by Grab from those driver-and merchant-partners, and excess incentives being the amount of payments made to driver- and merchant-partners that exceed the amount of commissions and fees earned by Grab from those driver- and merchant-partners. 5. Consumer incentives is an operating metric representing the dollar value of discounts and promotions offered to consumers. 6. Total Segment Adjusted EBITDA is defined as the Adjusted EBITDA excluding regional corporate costs. 7. Adjusted EBITDA is defined as net loss adjusted to exclude: (i) net interest income (expenses), (ii) other income (expenses), (iii) income tax expenses, (iv) depreciation and amortization, (v) stock-based compensation expenses, (vi) costs related to mergers and acquisitions, (vii) unrealized foreign exchange gain (loss), (viii) impairment losses on goodwill and non-financial assets, (ix) fair value changes on investments, (x) restructuring costs, (xi) legal, tax and regulatory settlement provisions and (xii) share listing and associated expenses. 8. These are non-IFRS financial measures. For a reconciliation to the most directly comparable IFRS measure see the section titled "Non-IFRS Reconciliation." 25#26Q4 2021 Results Consolidated group $ in millions, unless otherwise stated Operating Metrics GMV(2) MTUS(3) (millions of users) GMV per MTU ($) Partner Incentives (4) Consumer Incentives (5) Financial Measures Revenue Loss for the period Total Segment Adjusted EBITDA (6,8) (non-IFRS) Adjusted EBITDA(7,8) (non-IFRS) Q4 2021 (1) 4,501 26.0 173 218 365 122 (1,100) (113) (305) Q4 2020 (1) 3,573 25.3 141 126 162 219 (635) 49 (102) YOY% Change 26% 3% 23% 74% 126% (44)% (73)% NM (199)% Q4 2021 (1) % of GMV 5% 8% 3% (24)% (3)% (7)% Q4 2020 (1) 4% 5% 6% (18)% 1% (3)% Note: 1. Unaudited for Q4 2021 and Q4 2020. 2. GMV means gross merchandise value, an operating metric representing the sum of the total dollar value of transactions from Grab's services, including any applicable taxes, tips, tolls and fees, over the period of measurement. 3. Defined as the monthly number of unique users who transact via Grab's products, where transact means to have successfully paid for any of Grab's products. Monthly transacting users (MTUS) over a quarterly or annual period are calculated based on the average of the MTUs for each month in the relevant period 4. Partner incentives is an operating metric representing the dollar value of incentives granted to driver- and merchant-partners. The incentives granted to driver- and merchant-partners include base incentives and excess incentives, with base incentives being the amount of incentives paid to driver-and merchant-partners up to the amount of commissions and fees earned by Grab from those driver-and merchant-partners, and excess incentives being the amount of payments made to driver- and merchant-partners that exceed the amount of commissions and fees earned by Grab from those driver- and merchant-partners. 5. Consumer incentives is an operating metric representing the dollar value of discounts and promotions offered to consumers. 6. Total Segment Adjusted EBITDA is defined as the Adjusted EBITDA excluding regional corporate costs. 7. Adjusted EBITDA is defined as net loss adjusted to exclude: (i) net interest income (expenses), (ii) other income (expenses), (iii) income tax expenses, (iv) depreciation and amortization, (v) stock-based compensation expenses, (vi) costs related to mergers and acquisitions, (vii) unrealized foreign exchange gain (loss), (viii) impairment losses on goodwill and non-financial assets, (ix) fair value changes on investments, (x) restructuring costs, (xi) legal, tax and regulatory settlement provisions and (xii) share listing and associated expenses. 8. These are non-IFRS financial measures. For a reconciliation to the most directly comparable IFRS measure see the section titled "Non-IFRS Reconciliation." 26#27FY 2021 Results Commission rates Commission rates (1) Deliveries Mobility Financial Services Q4 2021 18.2% 23.8% 2.4% Q4 2020 17.5% 21.7% 1.8% YOY ppt Change 0.7% 2.0% 0.6% FY 2021 18.2% 23.4% 2.3% FY 2020 16.6% 21.3% 1.9% YOY ppt Change 1.6% 2.1% 0.4% Note: 1.. Commission Rate is an operating metric, representing the total dollar value paid to Grab in the form of commissions and fees from each transaction, without any adjustments for incentives paid to driver- and merchant-partners or promotions to end-users, as a percentage of GMV, over the period of measurement. 27#28FY 2021 Results Segment Adjusted EBITDA to IFRS Net Loss in millions, unless otherwise stated Total Segment Adjusted EBITDA (2,4) (non-IFRS) Regional Corporate Costs Adjusted EBITDA (3,4) (non-IFRS) Non-cash expenses Cash expenses Loss for the period Q4 2021 (1) (113) {(192) (305) r 1_ (719) (76) (1,100) FY 2021 (1) (125) (717) (842) (2,541) (172) (3,555) As a % of GMV, Regional Corporate Costs is stable at (4)% in Q4 2021, Q4 2020 and FY 2021, FY 2020 Non-cash expenses include non-recurring expenses of $600M in Q4 2021 and $1,860M in FY 2021 Note: 1. Unaudited for Q4 2021 and FY 2021. 2. Total Segment Adjusted EBITDA is defined as the Adjusted EBITDA excluding regional corporate costs. 3. Adjusted EBITDA is defined as net loss adjusted to exclude: (i) net interest income (expenses), (ii) other income (expenses), (iii) income tax expenses, (iv) depreciation and amortization, (v) stock-based compensation expenses, (vi) costs related to mergers and acquisitions, (vii) unrealized foreign exchange gain (loss), (viii) impairment losses on goodwill and non-financial assets, (ix) fair value changes on investments, (x) restructuring costs, (xi) legal, tax and regulatory settlement provisions and (xii) share listing and associated expenses. 4. These are non-IFRS financial measures. For a reconciliation to the most directly comparable IFRS measure see the section titled "Non-IFRS Reconciliation." 28#29FY 2021 Results Net Cash Liquidity $ in millions, unless otherwise stated Cash Liquidity (2) Less: Loans and borrowings Net Cash Liquidity For the year ended Dec 31, 2021 (¹) 2020 8,970 3,705 (2,175) (251) 6,795 3,454 Note: 1. Unaudited for FY 2021. 2. Cash Liquidity includes cash on hand, time deposits, marketable securities and restricted cash. 29#30Q4 2021 Results Deliveries Gross Merchandise Value(1) (US$M) 1,599 Q4 2020 2,438 +52% YOY Q4 2021 Commission Rate(2) (% of GMV) 17.5% Q4 2020 18.2% Q4 2021 Segment Adjusted EBITDA(3) (US$M) %of GMV (0.1%) (2) Q4 2020 (3.5%) (84) -US$83M Q4 2021 Note: 1. GMV means gross merchandise value, an operating metric representing the sum of the total dollar value of transactions from Grab's services, including any applicable taxes, tips, tolls and fees, over the period of measurement. 2. Commission Rate is an operating metric, representing the total dollar value paid to Grab in the form of commissions and fees from each transaction, without any adjustments for incentives paid to driver- and merchant-partners or promotions to end-users, as a percentage of GMV, over the period of measurement. 3 Segment Adjusted EBITDA is a non-IFRS financial measure, representing the Adjusted EBITDA of each of our four business segments, excluding, in each case, regional corporate costs. For a reconciliation to the most directly comparable IFRS measure see the section titled "Non-IFRS Reconciliation." 30#31Q4 2021 Results Mobility Gross Merchandise Value(1) (US$M) 857 765 -11% YOY Q4 2020 Q4 2021 Commission Rate(²) (% of GMV) 21.7% Q4 2020 23.8% Q4 2021 Segment Adjusted EBITDA(3) (US$M) %of GMV 13.2% 113 Q4 2020 10.1% 76 -32% YOY Q4 2021 Note: 1. GMV means gross merchandise value, an operating metric representing the sum of the total dollar value of transactions from Grab's services, including any applicable taxes, tips, tolls and fees, over the period of measurement. 2. Commission Rate is an operating metric, representing the total dollar value paid to Grab in the form of commissions and fees from each transaction, without any adjustments for incentives paid to driver- and merchant-partners or promotions to end-users, as a percentage of GMV, over the period of measurement. 3 Segment Adjusted EBITDA is a non-IFRS financial measure, representing the Adjusted EBITDA of each of our four business segments, excluding, in each case, regional corporate costs. For a reconciliation to the most directly comparable IFRS measure see the section titled "Non-IFRS Reconciliation." 31#32Q4 2021 Results Financial services Total Payments Volume (Pre-InterCo)(¹) (US$M) 2,624 1,497 1,127 Q4 2020 3,395 +29% YOY 2,148 1,247 Q4 2021 On-Grab Off-Grab Commission Rate(2) (% of GMV) 1.8% Q4 2020 2.4% Q4 2021 Segment Adjusted EBITDA(3) (US$M) %of TPV (3.1%) (82) Q4 2020 (3.2%) (110) -US$29M Q4 2021 Note: 1. Total Payments Volume (TPV) is defined as the value of payments, net of payment reversals, successfully completed through the Grab platform for the financial services segment. Pre-InterCo means this segment data includes earnings and other amounts from transactions between entities within the Grab group that are eliminated upon consolidation. 2. Commission Rate is an operating metric, representing the total dollar value paid to Grab in the form of commissions and fees from each transaction, without any adjustments for incentives paid to driver-and merchant-partners or promotions to end-users, as a percentage of GMV, over the period of measurement 3. Segment Adjusted EBITDA is a non-IFRS financial measure, representing the Adjusted EBITDA of each of our four business segments, excluding, in each case, regional corporate costs. For a reconciliation to the most directly comparable IFRS measure see the section titled "Non-IFRS Reconciliation." 32#33Q4 2021 Results Enterprise and New Initiatives Gross Merchandise Value(¹) (US$M) 23 Q4 2020 51 +127% YOY Q4 2021 Segment Adjusted EBITDA(2) (US$M) %of GMV 86.6% 20 Q4 2020 10.0% 5 -74% YOY Q4 2021 Note: 1. GMV means gross merchandise value, an operating metric representing the sum of the total dollar value of transactions from Grab's services, including any applicable taxes, tips, tolls and fees, over the period of measurement. 2 Segment Adjusted EBITDA is a non-IFRS financial measure, representing the Adjusted EBITDA of each of our four business segments, excluding, in each case, regional corporate costs. For a reconciliation to the most directly comparable IFRS measure see the section titled "Non-IFRS Reconciliation." 33#34FY 2021 Results Revenue by segment (IFRS Financials) $ in millions, unless otherwise stated Deliveries Mobility Financial Services Enterprise & New Initiatives Revenue Q4 2021 (1) 1 105 (1) 16 122 Q4 2020 51 146 (4) 26 219 YOY% Change (98)% (27)% 79% (39)% (44)% FY 2021 (1) 148 456 27 44 675 FY 2020 5 438 (10) 36 469 Note: 1. Unaudited for FY 2021 and Q4 2021. 2. GMV means gross merchandise value, an operating metric representing the sum of the total dollar value of transactions from Grab's services, including any applicable taxes, tips, tolls and fees, over the period of measurement. YOY% Change NM 4% NM 22% 44% 34#35Outlook Home 9:41 Q Looking for something? Food Balance S$ 52.80 SAMSUNG 4 Order food again Activity Mart Say hello to the pride and joy of your smart home Sponsored by Samsung G The heart of your smart home Introducing the new Farly Nub series Payment Express Transport Use Points 3,800 all Account 늘 SC G 35#36Outlook Outlook for Q1 2022 and FY 2022 Deliveries GMV(1) Mobility GMV(1) Financial Services TPV (Pre-InterCo) (²) Q1 2022 $2.4B $2.5B N $0.75B $0.80B N $3.1B $3.2B Q2 to Q4 2022 We expect GMV(¹) growth for each of the quarters from Q2 to Q4 2022 to accelerate to 30-35% YOY Note: 1. GMV means gross merchandise value, an operating metric representing the sum of the total dollar value of transactions from Grab's services, including any applicable taxes, tips, tolls and fees, over the period of measurement 2. Total Payments Volume (TPV) is defined as the value of payments, net of payment reversals, successfully completed through the Grab platform for the financial services segment. Pre-InterCo means this segment data includes earnings and other amounts from transactions between entities within the Grab group that are eliminated upon consolidation. 36#37Outlook Outlook on profitability 12% Mobility: Target long-term Segment Adjusted EBITDA (1,2) margins H12023 Expect Core Food Deliveries Segment Adjusted EBITDA (1) breakeven by H1 2023 3% Deliveries: Target long-term Segment Adjusted EBITDA (1,3) margins End 2023 Expect Deliveries Segment Adjusted EBITDA (1) breakeven by end-2023 Notes: 1. Segment Adjusted EBITDA is a non-IFRS financial measure, representing the Adjusted EBITDA of each of our four business segments, excluding, in each case, regional corporate costs. 2. Mobility Segment Adjusted EBITDA margins calculated as a percentage of Mobility GMV 3. Deliveries Segment Adjusted EBITDA margins calculated as a percentage of Deliveries GMV 37#38Non-IFRS Reconciliation Home 9:41 Q Looking for something? Food Balance S$ 52.80 SAMSUNG 4 Order food again Activity Mart Say hello to the pride and joy of your smart home Sponsored by Samsung G The heart of your smart home Introducing the new Farly Nub series Payment Express Transport Use Points 3,800 all Account 늘 SC G 38#39Adjusted EBITDA to IFRS Net Loss $ in millions, unless otherwise stated Loss for the period Net interest expenses Other expense/ (income) Income tax (credit) / expenses Depreciation and amortization Stock-based compensation expenses Reconciliation Unrealized foreign exchange loss Impairment losses on goodwill and non-financial assets Fair value changes on investments Restructuring costs Legal, tax and regulatory settlement provisions Share listing and associated expenses Adjusted EBITDA * Amount less than $1 million Note: Q4 2021 and FY 2021 are based on unaudited numbers. Q4 2021 (1,100) 340 8 (3) 89 110 9 13 (103) * 4 328 (305) Q4 2020 (635) 383 2 * 97 (10) 9 9 8 1 34 (102) FY 2021 (3,555) 1,675 (12) 345 5--23 357 15 (37) 12 353 (842) FY 2020 (2,745) 1,391 (10) 2 387 54 * 43 57 2 39 (780) 39#40Appendix Home 9:41 Q Looking for something? Food Balance S$ 52.80 SAMSUNG 4 Order food again Activity Mart Say hello to the pride and joy of your smart home Sponsored by Samsung G The heart of your smart home Introducing the new Farly Nub series Payment Express Transport Use Points 3,800 all Account 늘 SC G 40#41Incentives $ In millions Deliveries Mobility Financial Services Enterprise & New Initiatives Total $ In millions Deliveries Mobility Financial Services Enterprise & New Initiatives Total Base Incentives (1) 17.5 22.8 0.2 0.0 40.5 Base Incentives (1) 89.0 65.9 0.4 0.0 155.4 Q4 2021 Excess Incentives(2) 158.1 19.7 0.0 0.0 177.9 FY 2021 Excess Incentives (2) 513.4 47.8 0.2 0.0 561.4 Consumer Incentives(3) 267.7 33.1 30.7 33.7 365.1 Consumer Incentives (3) 800.1 82.5 79.6 102.5 1,064.8 Base Incentives (1) 15.9 14.4 0.4 0.0 30.8 Base Incentives (1) 63.9 113.9 0.6 0.1 178.5 Q4 2020 Excess Incentives (2) 92.2 2.3 0.0 0.2 94.7 FY 2020 Excess Incentives (2) 402.1 37.2 2.0 1.7 443.0 Consumer Incentives (3) 120.5 23.8 22.7 (5.5) 161.6 Consumer Incentives (3) 436.5 99.6 79.5 0.0 615.7 Note: Q4 2020, Q4 2021 FY 2020, and FY 2021 are based on unaudited numbers 1. Base incentives refer to the amount of incentives paid to driver and merchant-partners up to the amount of commissions and fees earned by Grab from those driver- and merchant-partners. 2. Excess incentives refer to payments made to driver- and merchant-partners that exceed the amount of commissions and fees earned by Grab from those driver and merchant-partners. 3. Consumer incentives refer to discounts and promotions offered to consumers. 41