Grab : 2023 ESG Report

ESG REPORT 2023

Serving moe people, beer

T of Content

Goup CEO's Leer	03
About Gab	04
2023 ESG Highlights	05
Building a Sustainable Impact Wheel	06
The Gab Impact Flywheel	07
ESG Govenance	08
Partner: Sustainable Partner Livelihoods	11
Gig work: Accessible and flexible earning opportunities for everyone	12
Creating a sustainable gig economy for all	13
Serving more consumers to boost partner earning opportunities	17
Improving productivity to help driver-partners complete more orders with less effort	18
Improving financial inclusion for the underserved	19
Empowering MSMEs with tools to grow their business	22
Uplifting partners' communities through the GrabForGood Fund	23
Plaom: Safe & Trusted Plaom	24
Platform safety	25
Cybersecurity	27
Data privacy	28
Planet: A Lasting Planet	29
Greenhouse gas emissions	30
Climate risk and opportunities	39
Sustainable packaging solutions	41
People & Cultue	42
ESG Metrics & Indicatos	46

• ESG Report 2023

Group CEO's Letter	About Grab	2023 ESG Highlights	Grab's ESG Strategy	ESG Governance	Partner	Platform	Planet	People	ESG Metrics and Indicators

Goup CEO's Leer

In 2023, Grab picked up pace towards our mission by strengthening efforts to

serve more people, better.

As a result, we grew our user base - as at year end, 35.5 million people leverage our platform to eat, ride and pay every month. We also onboarded over one million driver-partners and 500,000 micro, small and medium enterprises MSMEs), bringing our total number of registered partners and Kios agents to more than 13 million. Meanwhile, total transaction volumes on our platform grew by 16% year-on-year, while driver-partners' earnings per transit hour increased by 9% year-on-year.

We achieved these outcomes by applying our deep understanding of Southeast Asia, as well as our technology and data capabilities. More specifically, we made our ecosystem more accessible by expanding our range of affordable solutions. We also grew our driver-partners'earning opportunities by improving their productivity. And we supported the growth of MSMEs by enhancing our digital tools to help everyday entrepreneurs better run their businesses.

Significantly, we made progress on our mission, while crossing several business milestones. As economies fully reopened and travel resumed, our mobility business rebounded, and has since exceeded pre-Covid levels as we exited 2023 in terms of gross merchandise value GMV‹. Meanwhile, our deliveries segment showed resilience amidst rising inflation, and we grew our category leadership position in all our core markets. Our Group also achieved positive Adjusted Free Cash Flow for the first time in the fourth quarter of 2023.

Looking forward, there is still so much more we hope to do for Southeast Asia. Given geopolitical tensions and macroeconomic uncertainties coupled with increasingly intense weather events, some of the most pressing concerns anticipated for the region in 2024 include rising unemployment, deepening

income inequality and escalating climate change impacts. To address them, Grab

will continue to embed environmental, social and governance ESG considerations in all aspects of our business. For us, not only is this the right thing to do, but it also makes business sense. When communities thrive, they spur a virtuous positive impact cycle for businesses.

In this spirit, we will be doubling down on win-win-win solutions, which balance the economic, societal and environmental outcomes.

Let me share a few examples of such solutions we worked on in 2023-

• Our affordable food delivery option 'Saver' not only enables us to serve more cost-conscioususers, but also increases earning opportunities for our driver- and merchant-partnersas well as reduces greenhouse gas emissions: 'Saver' allows users to opt for lower delivery fees in exchange for longer delivery periods. This increases the odds of batching orders, which allows driver-partners to earn more as they fulfil more orders per transit hour, and lowers the level of greenhouse gas emissions tied to each order delivered as shorter distances are covered. This is done without impact to consumer satisfaction, with net promoter scores for Saver orders remaining as high as that for non-Saver orders. In 2023, we rolled out 'Saver' to our six core markets.
• Our electric vehicle EV rental programmes support decarbonisation, while providing our driver-partners with access to affordable vehicles, which in turn improves our driver supply: Across Southeast Asia, there are many who want to make a living as driver-partners,but are unable to own vehicles due to high cost barriers. In Indonesia and Thailand, our driver-partnerscan sign up for our 'Drive to Own' schemes, which allows them to own EVs without downpayment and secure loans readily, based on their driving record on our platform. They are also allowed to pay for their loans with daily instalments.

Developing holistic solutions is not always easy. To guide us in our journey, we will actively seek ground truths and maintain robust corporate governance. In 2023, we strengthened the Board and leadership's oversight of ESG initiatives, by ratifying the process and updating the Audit Committee Charter. And more recently, we increased the number of independent directors on the Board.

Ultimately, Grab is incredibly excited about the future of Southeast Asia. That said, we recognise that the opportunities and challenges ahead are bigger than any single company can navigate alone; so we are committed to engaging all our stakeholders, including government, industry, and community partners in our journey. With all of us learning, working and boldly inventing together, we have every confidence that we will be able to scale our impact for our people and our region.

Anthony Tan

Group CEO, Co-Founder

and Chairman, Grab

03

• ESG Report 2023

Group CEO's Letter
About Grab	2023 ESG Highlights	Grab's ESG Strategy	ESG Governance	Partner	Platform	Planet	People	ESG Metrics and Indicators

About

Grab is a leading superapp that impacts millions of lives everyday by transforming how people move, consume daily necessities and conduct financial transactions.

Connecting Southeast Asians to everyday services

36.9%

Mobility

Grab serves 1 in 20

people in Southeast Asia

8 >700

countries*cities

*Grab operates in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

35.5 million		>6 million
monthly		registered
transacting users		driver-partners

>3.5

billion

transactions

>6 million

registered

merchant-partners

and Kios agents

Drive Southeast Asia forward through economic empowerment for everyone

55.5%

Deliveries

7.5%

Financial Services

0.1%

Enterprise and Others

Contribution by Revenue, per reporting changes post Q1 2024 earnings

Served by mission-led employees

13	>88%
locations	employed
globally	in Southeast Asia

10,604	1,401	3,984
full-time	fixed-term contract	temporary
employees	employees	agency workers

Recognised for innovation and impact

• TIME100 Most Inuential Companies list in 2023
• Fast Company Most Innovative Companies 2023
• Fast Company World Changing Ideas 2023
• Maintained MSCI "AA" ating since 2022

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• ESG Report 2023

Group CEO's Letter
About Grab	2023 ESG Highlights	Grab's ESG Strategy	ESG Governance	Partner	Platform	Planet	People	ESG Metrics and Indicators

2023 ESG Highlights

Social Impact		Envionmental

ESG Govenance

$11 billion	>1 million
earned by partners1	driver-partners
on the Grab platform	joined the platform
Driver-partner earnings per transit
	hour grew 9% year-on-year

>500,000	>$1.5 billion
micro, small and medium	in loan disbursals, an increase
enterprise "MSME† merchant-	of 57% year-on-year
partners registered	providing access to credit
MSMEs contribute to 67% of total	to the underserved
GrabFood and GrabMart GMV

99.99%

of all rides occurred without any safety incidents2

Carbon intensity	6.3%
eduction
of 2.1% for mobility and	of distance travelled was
8.2% for deliveries	on low/zero emission
through transition to low emission	modes of transport3
vehicles and improved operational
efficiency

$5 million	>280,000
channelled into tree planting,	trees planted
forest conservation and	from 2023 contribution
renewable energy projects
in Southeast Asia4

>7,365 tonnes

of single-use plastics were reduced and recycled

Over 817 million cutleries opted out and 212,000 recyclables collected

Audit Commiee, a Boad Commiee, fomalised to ovesee ESG maes

improving oversight and management of our material topics relating to ESG

36%

of leadeship5 ae women

up 2pp year-on-year

• Includes earnings by driver-partners and merchant-partners.'Driver-partner earnings' is defined as the fare, bonuses, tips and fees, net of commission. 'Merchant-partner earnings' is defined as the total order bill, including taxes charged by the restaurant/merchant net of commission, Grab advertising spend and promotion costs.

• Defined as all reported and conclusive safety incidents caused by driver-partners or passengers while on trip across our mobility and delivery businesses, including road accidents, harassments and crimes.

• Includes electric and hybrid vehicles, cyclists and walkers.

• Includes Grab's purchases of renewable energy certifications ™RECs) for 100% of electricity usage for all corporate offices and contributions by consumers through the in-app carbon offset toggle, which are channelled to carbon credits supporting forest conservation and tree planting projects.

• Our employee gradings start from G1 and extend to G10. Leadership roles are G7 and above.

05

• ESG Report 2023

Group CEO's Letter
About Grab	2023 ESG Highlights	Grab's ESG Strategy	ESG Governance	Partner	Platform	Planet	People	ESG Metrics and Indicators

Building a Sustain Impact Flywheel

Engaging our stakeholders allows us to identify our key ESG priorities. To tackle these priorities, Grab is building a flywheel of impact for all its stakeholders, which self-sustains with the momentum it generates.

Engage key stakeholdes

G G

Consumers Partners Employees

Investors Regulators,

Governments, NGOs

Understand the perspectives and concerns of our stakeholders, and our impact on them.

Identify ESG priorities

Safe & Trusted	Sustainable	A Lasting
Platform	Partner Livelihoods	Planet
Ÿ Platform safety	Ÿ Socioeconomic	Ÿ Greenhouse
Ÿ Data privacy	impact	gas emissions
Ÿ Partners' welfare	Ÿ Sustainable
Ÿ Cybersecurity
	packaging solutions

Underpinning	•	Corporate governance
priorities	•	Compliance and ethics
	•	People and culture

Build impact ywheel

Economic	Healthy and	Improved
Quality of Life
Empowerment	Sustainable
for Southeast
of Partners	Marketplace
Asians

Deliver impact that self-sustains and grows with momentum, for all stakeholders.

06

• ESG Report 2023

Group CEO's Letter
About Grab	2023 ESG Highlights	Grab's ESG Strategy	ESG Governance	Partner	Platform	Planet	People	ESG Metrics and Indicators

The Impact Flywheel

Our ESG strategy is to build a healthy and sustainable marketplace, which will both contribute and benefit from the economic empowerment of partners as well as an improved quality of life for Southeast Asians. We call this our 'impact flywheel' - each part of this virtuous cycle builds on the other, allowing us to drive Southeast Asia forward for generations to come.

Motivated Partners	Consumers have access to safe and reliable everyday services,
		Supply	while Grab delivers financial performance

Economic	Healthy and	Improved Quality
Empowerment	Sustainable	of Life for
of Partners	Marketplace	Southeast Asians

Happy Consumers	Empowered Communities
Demand,		Spend		Consumers,		Demand

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• ESG Report 2023

Group CEO's Letter
About Grab	2023 ESG Highlights	Grab's ESG Strategy	ESG Governance	Partner	Platform	Planet	People	ESG Metrics and Indicators

ESG Govenance

The Board of Directors and Management play a critical role in fostering sustainable practices and integrating ESG into business strategy for long-term value creation. Maintaining a robust governance structure helps to ensure that Grab stays committed to its ESG goals, and that ESG risks are well-managed. In 2023, Grab formally ratified its ESG governance process.

ESG Responsibilities and Commitment

The ESG function, which is driven by the Sustainability team at Grab, reports directly to the Chief Executive Officer ™CEOŸ. This structure has been put in place since the inception of the team, with now a dotted reporting line to the Chief Operating Officer ™COOŸ. This enables strategic alignment between business units to effectively execute ESG matters.

Board of Directors Oversight:

The Audit Committee was designated as the oversight body for ESG on behalf of the Board. The Audit Committee Charterwas updated to include ESG under its purview.

Management Oversight:

An internal governance process was established for regular reporting cadence to Department Heads, Functional Heads and Executive Committee ™EXCOŸ to enable transparency, accountability and proactive action towards advancing ESG goals.

COO

• Business Operations
• Product, Design & Technology
• People Operations, Legal & Finance
• Risk & Compliance

Board of Directors

Audit Committee

CEO

Group HeadCEOof Marketing

and Sustainability

Regional Sustainability

Board of Directors:

Maintain oversight for sustainability with key metrics across all material topics.

Management:

Provide management guidance on issues relating to our material ESG topics; Integrate ESG considerations into Grab's strategy and business plans.

Business Units:

Regional Sustainability team manages and coordinates the implementation of our ESG strategy and programmes across the region, with cross-functional working teams, including the oversight process for material topics by leadership and the Board of Directors.

08

• ESG Report 2023

Group CEO's Letter
About Grab	2023 ESG Highlights	Grab's ESG Strategy	ESG Governance	Partner	Platform	Planet	People	ESG Metrics and Indicators

Boad of Diectos and Management's ESG Ovesight on Material Topics

ESG integration and shared accountability among the business units are fundamental in developing effective sustainability practices. A formal structure that indicates clear roles and responsibilities, with a regular reporting cadence, has been set up to track performance and enable Management to take actions that advance Grab's ESG goals. Our EXCO, which comprises C£Suites, are responsible for driving strategy, allocating adequate resources and are held accountable for ESG performance. The Audit Committee, a Board Committee, monitors quarterly and bi-annual progress against the ESG targets. The Heads of Departments are also updated on monthly progress, and a presentation on ESG is made to the full Board annually.

Material	Reporting
Topics	Cadence
Platform Safety
Data Privacy and	Quarterly
Cybersecurity
Governance and Ethics
People and Culture
Social Impact
¥ Socioeconomic impact
¥ Partners' welfare	Bi-annually
Environmental Impact

• Greenhouse gas emissions
• Sustainable packaging solutions

ESG Report & Programmes

Annually

Reporting Oder

Management

Boad Commiee

Respective Heads of	Executive Committee Owners	Audit Committee
Departments & Functions
™Monthly Review)

CEO

Boad of Diectos

Full Board

™Annual Review)

Board Chairperson

09

• ESG Report 2023

Group CEO's Letter
About Grab	2023 ESG Highlights	Grab's ESG Strategy	ESG Governance	Partner	Platform	Planet	People	ESG Metrics and Indicators

Boad divesity and expertise

Grab's Board of Directors, who are tasked towards driving our business and mission for long-term success, consists of individuals with a diverse set of backgrounds, experiences and skills.

Tan Hooi Ling, co-founder of Grab stepped down from her role on the Board at the end of 2023, and Ong Chin Yin, Chief People Officer of Grab joined the Board at the beginning of 2024. In April 2024, Grab welcomed two new independent members to the Board, Daniel Yun and David Loh, increasing the percentage of independent Board members to 71%, as Oliver Jay stepped down from the Board.

Chairperson Director

Independent Directors

Anthony Tan	Ong Chin Yin
Chief Executive Officer	Chief People Officer
and Co-Founder	of Grab
of Grab

Dara	Ng Shin Ein	John Rogers	Daniel Yun	David Loh
Khosrowshahi	Co-Founder of Gryphus	Chief Financial Officer	Chief Executive Officer	Executive Director and
Chief Executive Officer	Capital Management	of Smith+Nephew	of Kakao Bank	Joint Chairman of
of Uber				Centurion Corporation
				Ltd

C I N

Skills and Expertise

Financial expertise	2
Global company leadership
Sustainability and human capital management	2
Goverment, policy and regulatory experience

Consumer and digital experience

Innovation, technology, and high-growth experience

A I C

A

A

		Skills and expertise:
	4
	Grab's Board of Directors are highly experienced individuals who come from diverse
		backgrounds, bringing about diverse knowledge and perspectives.
3		In 2023, Grab's Board of Directors did a self-evaluation of their ESG skills and expertise to
		identify areas for training that will be undertaken in order to maintain proficiency and stay

4		ahead in ESG-related topics.
	5

C I N

Legend

A « Audit Committee

C « Compensation Committee

N « Nominating Committee

« Committee Chairperson

10