Press Release Details

Anthony Tan, Group CEO and Co-founder, Grab said, “Ming has been a strategic anchor through Grab’s formative years and many of our critical milestones, and has always led with our mission in sight. I’m grateful to have him as a comrade through the years, and more importantly, as a good friend. Ming has made a decision to put the needs of his family first, and it’s one that I respect and fully support. I expect a smooth transition, as we’ve built out our management team in the last few years, comprising leaders with extensive experience in public listed companies. This stable leadership core will continue to guide the business towards long-term, sustainable growth.”

Ming Maa, President, Grab said “I joined Grab because the mission of empowering the bottom half of the population pyramid in Southeast Asia resonated with me in a very deep way. It wasn’t just a tagline, it was core to everything Grab is doing and wants to achieve. Grab has come a long way, now serving more than 500 cities and with operating profitability. I feel confident stepping away from my day-to-day role at Grab knowing that we have a strong bench of senior leaders who will continue to drive the company towards its mission and focus on outserving our users and partners.”

Grab does not intend to seek a replacement for the President role. Functions currently reporting to the President will be subsumed under other Grab leaders.

Forward-Looking Statements

This document contains “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 document and the webcast, including but not limited to, statements about Grab’s goals, targets, projections, outlooks, beliefs, expectations, strategy, 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 deemed to necessarily materialize or relied upon as being necessarily indicative of future results. A number of factors, including macro-economic, industry, business, regulatory and other risks, 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, currency exchange fluctuations and inflation; 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 under “Item 3. Key Information – D. Risk Factors” and in other sections of Grab’s annual report on Form 20-F for the year ended December 31, 2022, as well as in other documents filed by Grab from time to time with the U.S. Securities and Exchange Commission (the “SEC”).