EX-10.9





 Exhibit 10.9 

PROPERTYGURU GROUP LIMITED EMPLOYEE STOCK OPTION PLAN 2018 

Adopted on 9th May 2018 (the “Effective Date”) and subsequently amended
on 6th October 2019, 9th December 2019, 14th October 2020 and 19th July 2021 (the “PropertyGuru Plan”). In connection with the transactions contemplated by that certain Business Combination Agreement by and among Bridgetown 2 Holdings
Limited, PropertyGuru Group Limited, B2 PubCo Amalgamation Sub Pte. Ltd. and PropertyGuru Pte. Ltd. dated 23rd July 2021, the PropertyGuru Plan was assumed and converted into the PropertyGuru
Group Limited Employee Stock Option Plan 2018. 
  

	1.	 PURPOSE OF THE PLAN 



The purpose of the PropertyGuru Group Limited (the “Company”) Employee Stock Option Plan 2018 (the
“ESO Plan 2018”) is to promote the interests of the Company and its subsidiaries (collectively the “Group”) by providing selected employees and directors of the Group with an appropriate incentive to
encourage them to continue in the employ of the Group and to improve the growth, profitability and financial success of the Group. 
  

	2.	 DEFINITIONS 



As used in this ESO Plan 2018 and in any Option Grant Agreement, the following capitalised terms shall have the following meanings: 

 

	 	(a)	 “Affiliate” shall mean, with respect to any Person, any other Person directly or
indirectly controlling, controlled by or under direct or indirect common control with such Person; provided, that no shareholder of the Company shall be deemed an Affiliate of any other shareholder solely by reason of any investment in the Company,
as applicable. For the purpose of this definition, the term “control” (including, with correlative meanings, the terms “controlling”, “controlled by” and “under common control with”), as used with respect to
any Person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities, by contract or otherwise.



  

	 	(b)	 “Applicable Law” shall mean applicable laws, rules, regulations and requirements,
including all applicable U.S. federal or state laws, any Stock Exchange rules, regulations or guidelines, the applicable laws, rules or regulations of any other country or jurisdiction where any Options are granted under the ESO Plan 2018, or where
Participants reside or provide services, and the orders and requirements of governmental authorities in any such jurisdiction, as such laws, rules, regulations, orders and requirements shall be in effect from time to time. 



  
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	 	(c)	 “Articles” shall mean the memorandum and articles of association of the Company (as may
be amended or restated from time to time). 


  

	 	(d)	 “Bad Leaver” shall mean a termination of the Participant’s Employment by the
Company or its subsidiary, as applicable, for Cause. 


  

	 	(e)	 “Board” shall mean the Board of Directors of the Company. 



 

	 	(f)	 “Cause” shall mean, when used in connection with the termination of a
Participant’s Employment, unless otherwise defined in the Participant’s employment agreement with the Company or any subsidiary of the Company or in the Participant’s Option Grant Agreement, in which case such definition shall govern:



  

	 	(i)	 a material failure of the Participant to reasonably and substantially perform his or her duties to the
Company or any of its Affiliates (other than as a result of physical or mental illness or injury); 


  

	 	(ii)	 the Participant’s willful misconduct or gross negligence which is injurious to the Company or any
subsidiary of the Company or any of its Affiliates (whether financially, reputationally or otherwise); 


  

	 	(iii)	 a breach by the Participant of the Participant’s fiduciary duty or duty of loyalty to the Company or any
subsidiary of the Company; 


  

	 	(iv)	 the Participant’s unauthorised removal from the premises of the Company or any subsidiary of the
Company of any document (in any medium or form) relating to the Company or any subsidiary of the Company, any of its Affiliates, or the customers of the Company; 



 

	 	(v)	 the commission by the Participant of any felony or other serious crime; 



 

	 	(vi)	 a breach by the Participant of the terms of any agreement with the Company or any subsidiary of the Company or
any material policies of the Company or any subsidiary of the Company applicable to the Participant, including without limitation any provision of the ESO Plan 2018 and/or the Option Grant Agreement; or 



 

	 	(vii)	 Competing. 



  
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 If, subsequent to the termination of a Participant’s Employment, it is discovered that
the Participant engaged in conduct which the Committee determines in good faith could have resulted in Participant’s Employment being terminated for Cause, as such term is defined above, or if the Participant Competes, the Participant’s
Employment shall, at the election of the Committee, in its sole discretion, be deemed to have been terminated for Cause retroactively to the date the events giving rise to Cause occurred. 

 

	 	(g)	 “Change of Control” shall mean (a) any sale, transfer or other disposition of
Ordinary Shares, in a single transaction or series of related transactions, as a result of which a third party acquires more than 50% of the Ordinary Shares (and in such event, only with respect to Ordinary Shares actually sold), (b) a sale,
transfer, exclusive licensing or other disposition, in a single transaction or series of related transactions, of more than 50% of the Company’s assets, including assets that are not and cannot be part of the asset side of the balance sheet, to
a third party, (c) a merger or any reorganisation whereby the Company is not the surviving entity (unless the holders of the share capital of the Company immediately prior to such event continue to hold more than 50% of the voting and economic
interest of the surviving entity following such event) or (d) any other transaction resulting in a change of control of the Company (as used in this sub-clause (d), the term “control” means the
possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a person, whether through ownership of voting securities, by contract or otherwise). 



 

	 	(h)	 “Committee” shall mean the Remuneration Committee of the Board or any other committee
appointed by the Board pursuant to Section 3 from time to time to administer the ESO Plan 2018, and if no such committee exists or has been appointed, the Board. 



 

	 	(i)	 “Compete” shall mean with respect to any Participant, in addition to what may otherwise
be provided in the Participant’s Employment agreement with the Company or any subsidiary of the Company, the provisions in the Participant’s Option Grant Agreement or in any other agreement entered into between the Company or any
subsidiary of the Company with the Participant pursuant to which the Participant is subject to restrictive covenants. “Competed” and “Competing” shall have correlative meanings.



  

	 	(j)	 “Confidential Information” shall mean, unless more broadly defined in the
Participant’s employment agreement with the Company or any subsidiary, all information regarding the Company or any of its subsidiaries or Affiliates, any activity of any of the Company, its subsidiaries or its Affiliates, the business of any
of its Affiliates or any customer or supplier of the Company, its subsidiaries or its Affiliates that is not generally known by the public or to Persons not employed by the Company, its subsidiaries or its Affiliates, including, without limiting the
foregoing, information that would not be known to the public but for the actions of or disclosure by, directly or indirectly, the Participant. 



  
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	 	(k)	 “Disability” shall mean with respect to any Participant, unless otherwise defined in
the Participant’s Option Grant Agreement, a permanent disability as defined in the Company’s or its subsidiaries’ disability plans, or as defined from time to time by the Board, in its sole discretion. 



 

	 	(l)	 “Eligible Individual” shall mean any Employee who, in the judgment of the Committee,
should be eligible to participate in the ESO Plan 2018 due to the services they perform on behalf of the Company or a subsidiary of the Company. 


  

	 	(m)	 “Employment” shall mean employment relationship with the Company or any
of its subsidiaries and shall include the provision of services as a director for the Company or any of its subsidiaries. “Employee” and “Employed” shall have correlative meanings.
Employment will be deemed to continue, unless the Committee expressly provides otherwise, so long as the Participant is employed by the Company or one of its subsidiaries. If a Participant’s Employment is with a subsidiary and that entity
ceases to be a subsidiary of the Company, the Participant’s Employment will be deemed to have terminated when the entity ceases to be a subsidiary of the Company unless otherwise determined by the Committee or if the Participant transfers
Employment to the Company or one of its remaining subsidiaries. 


  

	 	(n)	 “Exercise Date” shall have the meaning set forth in Section 4.11 herein.



  

	 	(o)	 “Exercise Notice” shall have the meaning set forth in Section 4.11 herein.



  

	 	(p)	 “Exercise Price” shall mean the price (which may be nil) that the Participant
must pay under the Option for each Ordinary Share, as determined by the Committee in its absolute discretion for each grant and initially specified in the Option Grant Agreement, subject to any adjustment that may be made in accordance with the ESO
Plan 2018. 


  

	 	(q)	 “Fair Market Value” shall mean (A) the closing price of the Ordinary Shares on the
immediately preceding trading day (as reported on the relevant securities exchange) or (B) if not so reported, the average of the closing bid and ask prices on such day as reported on such securities exchange. 



  
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	 	(r)	 “Good Leaver” shall mean with respect to any Participant the termination of his or her
Employment by reason of: 


  

	 	(i)	 redundancy; 


  

	 	(ii)	 retirement at the earlier of (A) 65 years of age, and (B) the mandatory retirement age as stipulated under
Applicable Law in the jurisdiction under which the Participant is employed; 


  

	 	(iii)	 retirement before the minimum retirement age stipulated in
sub-paragraph (ii) above, with the consent of the Committee; 


  

	 	(iv)	 death or Disability by the Participant; or 



 

	 	(v)	 any other reason the Committee may determine in its absolute discretion. 



 

	 	(s)	 “Leaver” shall mean a termination of the Participant’s Employment for
reasons other than those set out in the definitions of Good Leaver and Bad Leaver. 


  

	 	(t)	 “Net Settlement” shall have the meaning set forth in Section 4.11.



  

	 	(u)	 “Option” shall mean the option to purchase or subscribe for Ordinary Shares
granted to any Participant under the ESO Plan 2018. Any references in the ESO Plan 2018 to an “Option” will include, but are not limited to, “Time-Based Options” and “Performance-Based
Options”. 


  

	 	(v)	 “Option Cash Award” shall have the meaning set forth in
Section 4.13. 


  

	 	(w)	 “Option Grant Agreement” shall mean an agreement, substantially in the form attached
hereto as Exhibit A, entered into by each Participant and the Company evidencing the grant of each Option pursuant to the ESO Plan 2018, provided the Committee may make such changes to the form of the Option Grant Agreement for any particular grant
as the Committee may determine in its absolute discretion, pursuant to its powers set forth in the ESO Plan 2018. 


  

	 	(x)	 “Option Grant Date” shall have the meaning set forth in
Section 4.2. 


  

	 	(y)	 “Option Vesting Notice” shall have the meaning set forth in
Section 4.6. 


  

	 	(z)	 “Ordinary Shares” shall mean ordinary shares in the share capital of the Company.



  

	 	(aa)	 “Participant” shall mean an Eligible Individual to whom a grant of an Option has been
made. 



  
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	 	(bb)	 “Performance-Based Option” shall have the meaning set forth in Section 4.5.2.



  

	 	(cc)	 “Person” shall mean an individual, partnership, corporation, limited liability
company, unincorporated organisation, trust or joint venture, or a governmental agency or political subdivision thereof. 


  

	 	(dd)	 “Time-Based Option” shall have the meaning set forth in Section 4.5.1.



  

	3.	 ADMINISTRATION OF THE PLAN 



The Board shall have the right to establish the Committee to administer the ESO Plan 2018 under the terms of the Company’s constitution,
and to grant Options. 
 In addition, the Committee, in its absolute discretion, may delegate its authority to grant Options to an officer or
committee of officers of the Company, subject to reasonable limits and guidelines established by the Committee at the time of such delegation and subject to Applicable Law. 
  

	3.1	 Powers of the Committee. In addition to the other powers granted to the Committee under the ESO
Plan 2018, the Committee shall have the power, in its absolute discretion, to: 


  

	 	3.1.1	 determine the Eligible Individuals to whom grants of Options shall be made; 



 

	 	3.1.2	 determine the time or times when grants of Options shall be made; 



 

	 	3.1.3	 determine the allocation methodology to be used in respect of calculating the number of Ordinary Shares to be
subject to each such grant of Options; 


  

	 	3.1.4	 determine, modify or waive the terms and conditions of any grant of Options; 



 

	 	3.1.5	 prescribe the form and terms and conditions of any instrument evidencing a grant of Options, so long as such
terms and conditions are not otherwise inconsistent with the terms of the ESO Plan 2018; 


  

	 	3.1.6	 adopt, amend and rescind such rules and regulations as, in its opinion, may be advisable for the administration
of the ESO Plan 2018; 


  

	 	3.1.7	 construe and interpret the ESO Plan 2018, such rules and regulations and the instruments evidencing grants of
Options; 


  

	 	3.1.8	 reconcile any inconsistency, correct any defect and/or supply any omission in the ESO Plan 2018 or any
instrument evidencing any grant of Options; and 



  
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	 	3.1.9	 make all other determinations necessary or advisable for the administration of the ESO Plan 2018 and otherwise
do all things necessary to carry out the purposes of the ESO Plan 2018, 


 provided that such power shall be subject to
Applicable Law. 
  

	3.2	 Determinations of the Committee. Any grant, determination, prescription or other act of the
Committee shall be final and conclusively binding upon all Persons (including for the avoidance of doubt, any decisions pertaining to disputes as to the interpretation of the ESO Plan 2018 or any rule, regulation or procedure hereunder or as to any
rights under the Plan). The Committee shall not be required to furnish any reasons for any decision or determination made by it. 


  

	3.3	 Compliance with Applicable Law; Securities Matters; Effectiveness of Option Exercise. The Company
shall be under no obligation to effect or procure the registration or effect similar compliance with respect to any applicable securities laws with respect to any awards or Ordinary Shares to be issued or transferred, as the case may be, hereunder.
Any issuance or transfer, as the case may be, of Ordinary Shares to a Participant pursuant to the exercise of an Option shall only be effective once such Ordinary Shares have been registered in such Participant’s name in the Company’s
Register of Members or recorded with the transfer agent or stock plan administrator of the Company for the benefit of the Participant (as the case may be). The Company may, in its sole discretion, defer the effectiveness of an exercise, or delay the
exercisability, of an Option hereunder or the issuance or transfer of the Ordinary Shares pursuant to any Option or to help ensure compliance under applicable securities laws and any exemptions therefrom on which the Company may be relying. The
Company shall inform the Participant in writing of its decision to defer the effectiveness of the exercise of an Option, the issuance or transfer of the Ordinary Shares pursuant to any Option. During the period that the effectiveness of the exercise
of an Option has been deferred, the Participant may, by written notice, withdraw such exercise and obtain the refund of any amount paid with respect thereto. 


  


	3.4	 Inconsistent Terms. In the event of a conflict between the terms of the ESO Plan 2018 and the
terms of any Option Grant Agreement, the terms of the ESO Plan 2018 shall govern except as otherwise expressly provided herein. 


  

	3.5	 ESO Plan 2018 Term. The Committee shall not grant any Options under the ESO Plan 2018 on or after
the tenth anniversary of the Effective Date. All Options which remain outstanding after such date shall continue to be governed by the ESO Plan 2018 and the applicable Option Grant Agreement(s). 



  
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	4.	 OPTIONS  


  

	4.1	 Grant. The Committee may offer to grant Options to such Eligible Individuals as it may select in
its absolute discretion at any time during the period where the ESO Plan 2018 is in force, provided that such power shall be subject to Applicable Law. Each Option offered pursuant to the ESO Plan 2018 shall be subject to terms and conditions
established by the Committee consistent with the ESO Plan 2018. 


  

	 	4.1.1	 Offer of Grant. An offer to grant Options to the Eligible Individual shall
be made by sending to such Eligible Individual an Option Grant Agreement confirming the grant of Options. 


  

	 	4.1.2	 Acceptance of Grant. A grant of Options offered to an Eligible Individual pursuant to
Section 4.1.1 may only be accepted by the Eligible Individual within thirty (30) days after the relevant Option Grant Date and not later than 5.00 p.m. on the thirtieth (30th) day from
such Option Grant Date (a) by completing, signing and returning to the Company the Option Grant Agreement, subject to such modification as the Committee may from time to time determine, accompanied by payment of S$0.01, to the extent required
by Applicable Law, or such other amount and such other documentation as the Committee may require as consideration and (b) if, at the date on which the Company receives from the Eligible Individual the Option Grant Agreement in respect of the
Option as aforesaid, he or she remains eligible to participate in the ESO Plan 2018 in accordance with the terms and conditions set out therein. 



The Eligible Individual may accept or refuse the whole or part of the offer. The Committee shall, within fifteen (15) business days of
receipt of the Option Grant Agreement and consideration, acknowledge receipt of the same. 
 Lapse of Grant. Unless the
Committee determines otherwise, an offer of a grant of an Option shall automatically lapse and become null, void and of no effect and shall not be capable of acceptance if: 
  

	 	(i)	 it is not accepted in the manner as provided in Section 4.1.2 within the thirty (30) day period;



  

	 	(ii)	 the Eligible Individual dies prior to his or her acceptance of the Option; 



 

	 	(iii)	 the Eligible Individual is adjudicated a bankrupt or enters into composition with his or her creditors prior to
his or her acceptance of the Option; 


  

	 	(iv)	 the Eligible Individual, being an Employee of the Group, ceases to be in the Employment of the Group for any
reason whatsoever prior to his or her acceptance of the Option; or 



  
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	 	(v)	 the Company is liquidated or wound-up prior to the Eligible
Individual’s acceptance of the Option. 


  

	 	4.1.3	 Rejection of Acceptance. The Company shall be entitled to reject any purported acceptance
of a grant of an Option made pursuant to Section 4.1 which does not strictly comply with the terms of the ESO Plan 2018. 


  

	 	4.1.4	 Offer in Contravention of Law and Regulation. In the event that a grant of an Option results in
the contravention of any Applicable Law, such grant shall be null and void and be of no effect and the relevant Participant shall have no claim whatsoever against the Company. 



 

	4.2	 Option Grant Date. The date of grant of the Options shall be the date
designated by the Committee and specified in the Option Grant Agreement as of the date the Option is granted (the “Option Grant Date”). 



 

	4.3	 Terms and Conditions. Subject to the specific terms of the Option Grant Agreement, including any
vesting conditions outlined in the Option Grant Agreement and payment of the Exercise Price (which may be nil), each Option represents an option to purchase or subscribe for one Ordinary Share, or in certain circumstances, entitle the Participant to
an Option Cash Award. 


  

	4.4	 Exercise Price. The Exercise Price of any Option granted under the ESO Plan 2018 shall be the
price as specified in the Option Grant Agreement, such amount (which may be nil) to be determined by the Committee in its absolute discretion in connection with the grant. Options, once granted, may be repriced only in accordance with the applicable
requirements of the ESO Plan 2018 and Applicable Law. 


  

	4.5	 Vesting of Options. The Committee shall specify in the Option Grant Agreement the conditions upon
which the Option shall become vested. The Option Grant Agreement may, but the Committee shall not be required to, provide for vesting pursuant to this Section 4.5 or pursuant to such other conditions as the Committee shall deem appropriate in
its sole discretion. Vested portions of the Option (if any) may be exercised only in accordance with Section 4.10 hereof. 


  

	 	4.5.1	 Time-Based Options. The Committee may provide in the Option Grant Agreement that part or all of
an Option granted under the ESO Plan 2018 is a Time-Based Option. For the purposes of this plan, a “Time-Based Option” shall mean an Option which is subject to time-based vesting conditions as set forth in the Option Grant
Agreement as may be varied or accelerated by the Committee at its sole discretion. Unless the Committee provides otherwise, the vesting of the Time-Based Option may be suspended during any leave of absence. 



  
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	 	4.5.2	 Performance-Based Options. The Committee may provide in the Option Grant Agreement that part or
all of an Option granted under the ESO Plan 2018 is a Performance-Based Option. For the purposes of this plan, a “Performance-Based Option” shall mean an Option that vests in accordance with the performance conditions
set forth in the applicable Option Grant Agreement as may be varied or accelerated by the Committee at its sole discretion. The Committee may in its absolute discretion also additionally impose time-based vesting conditions on such Performance-Based
Options, which shall be set forth in the Option Grant Agreement. In addition, the Committee may, in its absolute discretion, adjust the performance conditions to some or all of the Performance-Based Options as set forth in the Option Grant Agreement
in the event of exceptional circumstances outside of management’s control which may materially affect the Group’s performance such that the Participants do not receive or suffer an undue advantage or disadvantage (as the case may be).



  

	 	4.5.3	 Accelerated Vesting upon occurrence of a Change of Control. Except as otherwise provided in the
Option Grant Agreement or unless otherwise determined by the Committee in its absolute discretion pursuant to Section 4.17.2, upon the occurrence of a Change of Control or where a Change of Control is likely to occur (as determined by the
Committee in its absolute discretion), all of the outstanding unvested Time-Based Options and/or Performance-Based Options shall immediately vest and become exercisable prior to the Change of Control. 



 

	4.6	 Vesting Notice. Subject in all cases to the Participant’s active Employment, once the
Committee has, in its absolute discretion, (a) determined that the vesting conditions as set out in the Option Grant Agreement have been met or (b) waived the vesting conditions in respect of some or all of the Options, the Committee will
notify the Participant of the number of Options that have vested via the issue of a vesting notice (the “Option Vesting Notice”). The date of the Option Vesting Notice will be the date the Options vest in
the Participant, and no Option will vest and become exercisable until the Option Vesting Notice has been issued. 


 For the
purposes of this Section 4.6, a Participant shall be deemed to have ceased to be so actively Employed as of the date the notice of termination of Employment is tendered by or is given to him or her, unless such notice shall be withdrawn prior
to its effective date. 

  
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	4.7	 Malus. In the event of any circumstances which (a) would lead the Participant receiving or
being eligible to receive an unfair benefit, or (b) the Committee determines in its absolute discretion that a reduction or clawback of the Options is otherwise warranted, the Committee may, in its absolute discretion: 



 

	 	4.7.1	 in the case of any unexercised Options, reduce, lapse or forfeit all or part of such Options and/or amend or
alter any vesting conditions applying to such Options; and 


  

	 	4.7.2	 in the case of any exercised Options, by written notice to the relevant Participant require that Participant
(i) pay to the Company the prevailing after tax cash value of the Ordinary Shares arising from the exercise of such Options (with such payment to be made within 30 business days of receipt of such notice); or (ii) pay to the Company the
proceeds (net of tax) arising from an on-market sale of the Ordinary Shares arising from the exercise of such Options, within 30 business days of receipt of such notice. 



For the purposes of this Section 4.7(a), an unfair benefit may, in the absolute discretion of the Committee, be considered to arise where
an Option, which would not have otherwise vested, vests or remains capable of vesting as a result of such circumstances. 
 For the purposes
of this Section 4.7(b), such circumstances are limited to: 
 (A)    fraud or dishonesty on the part of the
Participant; 
 (B)    breach of any obligations owed by the Participant to the Group; 

(C)    bankruptcy of the Participant; or 

(D)    any material misstatement of financial accounts by the Participant. 

 

	4.8	 Expiration of Options. All Options, whether vested or unvested, shall expire on the tenth (10th) anniversary of their Option Grant Date unless otherwise provided in a Participant’s Option Grant Agreement or unless such Options expire earlier as provided in Section 4.5.3 or
Section 4.9 or a shorter exercise period is required by law. Upon the expiry of the applicable period for the exercise of such Options, the Options then remaining unexercised shall lapse and become null and void. 



 

	4.9	 Termination of Employment.  



 

	 	4.9.1	 Unvested Options. Unless otherwise specified in the Option Grant Agreement or unless the
Committee determines otherwise, upon termination of the Participant’s Employment: 


  

	 	(i)	 where the Participant is a Leaver or Bad Leaver, all unvested outstanding Options held by such Participant
shall be immediately forfeited; and 



  
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	 	(ii)	 where the Participant is a Good Leaver, the Committee may, at its absolute discretion, permit him or her to
retain a portion of his or her unvested Options, such retained unvested Options to be pro-rated for the portion of the vesting period served at the time of cessation of Employment, and to vest subject to the
terms and conditions of the Option Grant Agreement to which the Options were first granted. 


  

	 	4.9.2	 Vested Options. With respect to each Participant, such Participant’s Option(s), or any
portion thereof, which have become vested on or before the date such Participant’s Employment is terminated shall, unless otherwise provided in the Participant’s Option Grant Agreement, expire on the earliest of (a) where the
Participant is a Bad Leaver, the commencement of business on the date of the Participant’s termination of Employment; and (b) where the Participant is a Good Leaver or Leaver, 30 days after the date the Participant’s Employment is
terminated; or (c) the expiration date applicable to such Option specified in Section 4.8. 


  

	4.10	 Exercise of Options. Subject to Section 3.3 hereof, a Participant (or his or her legal
representative, if applicable) may exercise any or all of his or her (or its) vested Options only during the period (i) beginning on the date upon which the relevant Option vests pursuant to the ESO Plan 2018 or the applicable Option Grant
Agreement and (ii) ending on the date on which the relevant Option expires in accordance with Section 4.8 hereof. The Participant (or his or her legal representative, if applicable) may effectuate any such exercise by serving an Exercise
Notice on the Company as provided in Section 4.11 hereof. 


  

	4.11	 Method of Exercise. Unless the Committee expressly provides otherwise and subject to compliance
with such exercise conditions as may be determined by the Committee in its absolute discretion, the Option shall be exercised by delivery of written notice to the Company at the address provided in Section 5.11 hereof (the “Exercise
Notice”), which if the Committee so determines may be an electronic notice, to the attention of its Secretary, no less than five (5) business days in advance of the effective date of the proposed exercise (the “Exercise
Date”), subject to compliance with the Company’s applicable securities trading policy. Such notice shall: 


  

	 	4.11.1	 specify the number of Ordinary Shares with respect to which the Option is being exercised, the Option Grant
Date of such Option and the Exercise Date; 



  
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	 	4.11.2	 be signed (including electronic signature in form acceptable to the Committee) by the Participant (or his or
her legal representative, if applicable); and 


  

	 	4.11.3	 indicate whether the aggregate Exercise Price for the exercise of the Options (where the Exercise Price is not
nil) specified in Section 4.11.1 will be paid by way of cash (unless the Committee determines in its absolute discretion that the aggregate Exercise Price be settled by way of Net Settlement) or settled by way of Net Settlement.



 Pursuant to Section 4.11.3, where the Participant has indicated that the payment of the aggregate Exercise Price
for the exercise of the Options will be by way of cash, the Exercise Notice shall be accompanied by payment in cash (or in such other manner as the Committee may approve) for an amount equal to the Exercise Price multiplied by the number of Ordinary
Shares specified in such Exercise Notice or any other method approved by the Committee in writing. 
 Pursuant to Section 4.11.3, where
the Participant has indicated or, as the case may be, the Committee has determined that the payment of the aggregate Exercise Price for the exercise of the Options will be by way of Net Settlement, the Participant will be entitled to Ordinary Shares
calculated as (a) the number of Ordinary Shares with respect to which the Option is being exercised less (b) the number of Ordinary Shares that have a Fair Market Value of an amount equal to the Exercise Price multiplied by the number of
Ordinary Shares specified in such Exercise Notice, and rounded down to the nearest whole Ordinary Share, and the Company will pay an amount in cash to the Participant equal to the Fair Market Value of the fractional Ordinary Share not otherwise
issued or transferred, as the case may be (“Net Settlement”). For avoidance of doubt, the Participant need not make any payment to the Company pursuant to a Net Settlement. 

Subject to the terms of the ESO Plan 2018, Section 5.2 and any conditions specified by the Committee in its sole discretion in the Option
Grant Agreement, as soon as practicable upon the valid exercise of an Option in compliance with this Section 4.11, the Company shall issue or procure the issue or, as the case may be, transfer or procure the transfer to the Participant such
number of Ordinary Shares with respect to which the Option was exercised. The Company shall be entitled to reject any purported exercise of an Option pursuant to this Section 4.11 if the Exercise Notice does not strictly comply with the terms
of the ESO Plan 2018. 
 Ordinary Shares issued by the Company on the exercise of an Option in accordance with this Section 4.11 shall
be issued as fully paid and recorded as such in the Company’s Register of Members and the subscription price for such issued Ordinary Shares shall be equal to the Exercise Price of the exercised Options, provided that, if applicable, where the
Exercise Price for the exercise of an Option is less than the par value of the Ordinary Shares to which such Option relates, the issue price of such Ordinary Shares shall be deemed to be equal to the par value of such Ordinary Shares and the Company
shall issue such Ordinary Shares credited as fully paid and recorded as fully paid in the Company’s Register of Members. 

  
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 The partial exercise of an Option, alone, shall not cause the expiration, termination or
cancellation of the remaining portion of such Option. 
  

	4.12	 Lapse of Options. Unless otherwise determined by the Committee, in respect of every vesting
period, where the Committee determines, in its absolute discretion, that the performance condition and/or any other condition applicable to an Option (including the Participant’s active Employment until the completion of that vesting period)
has not been satisfied (whether fully or partially), such Option shall lapse and be of no value. 


 For the purposes of
this Section 4.12, a Participant shall be deemed to have ceased to be so actively Employed as of the date the notice of termination of Employment is tendered by or is given to him or her, unless such notice shall be withdrawn prior to its
effective date. 
  

	4.13	 Cash Awards. Upon the exercise of Options pursuant to Section 4.11, the Committee may, in its
absolute discretion, determine to make a payment of cash to the Participant instead of issuing or, as the case may be, transferring Ordinary Shares (“Option Cash Award”), in which event the Company shall
pay to the Participant as soon as practicable after exercise of such Options in lieu of all or part of such Ordinary Shares, the excess, if any, of (A) the Fair Market Value of one Ordinary Share multiplied by the number of Ordinary Shares
subject to the Option or such portion, over (B) the aggregate exercise price of the Option or such portion, on such payment terms and other terms, and subject to such conditions, as the Committee determines, in settlement in full of the
Participant’s rights in respect of such Option. For avoidance of doubt, any payment made by the Participant pursuant to Section 4.11 will be refunded to him or her in respect of such Options exercised should an Option Cash Award be made by
the Company. 


  

	4.14	 Changes in and Distributions With Respect to Ordinary Shares.



  

	 	4.14.1	 Basic Adjustment Provisions. In the event of a share dividend, share split or combination of
shares (including a reverse stock split), recapitalisation or other change in the Company’s capital structure, the Committee shall make appropriate adjustments, as determined by the Committee in its absolute discretion to (a) the maximum
number of Ordinary Shares specified in Section 3 that may be delivered under the ESO Plan 2018, (b) the number and kind of shares of stock or securities subject to Options then outstanding or subsequently granted, (c) the exercise prices
relating to Options and (d) any other provision of Options affected by such change to prevent the enlargement or dilution of rights with respect to the number of Ordinary Shares subject to grant under the ESO Plan 2018, the number of Ordinary
Shares subject to the Options and/or the Exercise Price per share of Ordinary Shares, provided that such power shall be subject to the Articles and Applicable Law. 



  
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	 	4.14.2	 Certain Other Adjustments. The Committee shall also make adjustments of the type described in
Section 4.14.1 above to take into account distributions to shareholders other than those provided for in Section 4.14.1, or any other event, if the Committee determines that adjustments are appropriate to avoid distortion in the operation
of the ESO Plan 2018 and to preserve the value of Options granted hereunder, where applicable. In addition, in the event of a corporate acquisition or similar corporate transaction involving the Company, its subsidiaries or their Affiliates, the
Committee may, in its absolute discretion (i) provide for the cancellation of any such Option in exchange for either an amount of cash or other property with a value equal to the amount that could have been obtained upon the exercise of the
vested portion of such Option or realization of the Participant’s rights under the vested portion of such Option, as applicable; provided that, if the amount that could have been obtained upon the exercise of the vested portion of such Option
or realization of the Participant’s rights, in any case, is equal to or less than zero, then the Option may be terminated without payment, (ii) provide that such Option be assumed by the successor or survivor corporation, or a parent or
subsidiary thereof, or shall be substituted for by awards covering the stock of the successor or survivor corporation, or a parent or subsidiary thereof, with appropriate adjustments as to the number and kind of shares and/or applicable exercise or
purchase price, in all cases, as determined by the Committee in its absolute discretion, (iii) replace such Option with other rights or property selected by the Committee in its absolute discretion, (iv) provide that the Option will
terminate and cannot vest, be exercised or become payable after the applicable event or (v) make such adjustments to the vesting conditions applicable to any outstanding Options as it reasonably determines in good faith are appropriate to avoid
distortion in the value of such Options. 


  

	 	4.14.3	 Continuing Application of Plan Terms. References in the ESO Plan 2018 to Ordinary Shares
will be construed to include any shares or securities resulting from an adjustment pursuant to this Section 4.14. 



  
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	4.15	 Increase or Decrease in Issued Shares Without Consideration. Subject to any required
action by the shareholders of the Company, in the event of any increase or decrease in the number of issued Ordinary Shares resulting from a subdivision or consolidation of Ordinary Shares, or any other increase or decrease in the number of such
shares effected without receipt of consideration by the Company (including the payment of an extraordinary dividend), the Committee shall make such adjustments as it determines in its absolute discretion to prevent the enlargement or dilution of
rights with respect to the type and number of shares subject to grant under the ESO Plan 2018, including, but not limited to, the number of Ordinary Shares to be subject to the Options and/or the Exercise Price per Ordinary Share, provided that such
power shall be subject to the Articles and Applicable Law. The Company may, in the event the Committee has determined an adjustment is necessary pursuant to this Section 4.15, determine instead to pay an equivalent cash bonus to the
Participants upon vesting of the Options in lieu of adjusting such Options, as the Committee may determine in its absolute discretion. 


  

	5.	 MISCELLANEOUS 



 

	5.1	 Rights as Holders of Options. The Participants shall not have any rights as holders with respect
to any Ordinary Shares covered by or relating to the Options granted pursuant to the ESO Plan 2018 until the date the Participants become the registered owners of such Ordinary Shares issued or, as the case may be, transferred in accordance with and
subject to the governing documents of the Company. Except as otherwise expressly provided in Sections 4.14 through 4.15 hereof, no adjustment to the Options shall be made for dividends or other rights for which the record date occurs prior to the
effective date such share is registered. 


  

	5.2	 Amendment of Terms of Options. The Committee may, in its sole discretion, amend the ESO Plan 2018
or terms of any Option, provided, however, that any such amendment shall not impair or adversely affect the Participants’ existing rights under the ESO Plan 2018 in relation to outstanding grants or such Option without such Participant’s
written consent, unless the Committee expressly reserved the right to make such amendment at the time the Option was granted (which shall include, without limitation, the right to adjust or modify outstanding Options (pursuant to Sections 4.14
through 4.15)). For purposes of this Section 5.3, the opinion of the Committee as to whether any amendment would impair or adversely affect the Participants’ existing rights under the ESO Plan 2018 in relation to outstanding grants of
Options shall be final, binding and conclusive. 


  

	5.3	 No Special Employment Rights. Nothing contained in the ESO Plan 2018 shall confer upon the
Participants any right with respect to the continuation of their Employment or interfere in any way with the right of the Company or any of its subsidiaries, subject to the terms of any separate employment agreements to the contrary, at any time to
terminate such Employment or to increase or decrease the compensation of the Participants from the rate in existence at the time of grant. 



  
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	5.4	 Tax Withholding. The Committee is authorised to withhold from any delivery of Ordinary Shares
pursuant to the ESO Plan 2018 or any other payment to a Participant such amounts as are required to be withheld by applicable tax law in connection with any Option. Each Participant shall be responsible for the payment of applicable withholding and
other taxes in cash that may become due in connection with the grant or exercise of an Option. The Committee may permit a Participant to satisfy such obligation through the delivery of Ordinary Shares that have a Fair Market Value equal to the
amount required to be paid, to the extent that the Committee determines that so satisfying such obligation would not adversely impact the Company’s ability to meet its cash obligations. 



 

	5.5	 No Obligation to Exercise. The grant to the Participants of the Options shall impose no
obligation upon the Participants to exercise such Options. 


  

	5.6	 No Restrictions on Ordinary Shares issued or transferred under Options. Unless stated in the
Option Grant Agreement or as the Committee may determine in its absolute discretion, all Ordinary Shares issued or transferred, as the case may be, pursuant to the exercise of any Option shall not be subject to any dealing or trading restrictions.



  

	5.7	 Coordination with Other Plans. Options under the ESO Plan 2018 may be granted in tandem with, or
in satisfaction of or substitution for, other grants under other plans or awards made under other compensatory plans or programs of the Group. 


  

	5.8	 Notices. Each notice and other communication hereunder shall be in writing and shall be given and
shall be deemed to have been duly given on the date it is delivered in person or by electronic mail, on the next business day if delivered by overnight mail or other reputable overnight courier, or the third business day if sent by registered mail,
return receipt requested, to the parties as follows: 


 If to the Company: 

PROPERTYGURU GROUP LIMITED 

Paya Lebar Quarter, 1 Paya Lebar Link 

#12-01/04, Singapore 408533  

Attention: [●] 
 If to the
Participant, to its most recent address shown on records of the Company or their subsidiaries; 
 or in each case to such other address as
any party may have furnished to the others in writing in accordance herewith, except that notices of change of address shall be effective only upon receipt. 
  

	5.9	 Descriptive Headings. The headings in the ESO Plan 2018 are for convenience of reference only and
shall not limit or otherwise affect the meaning of the terms contained herein. 



  
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	5.10	 Severability. In the event that any one or more of the provisions, subdivisions, words, clauses,
phrases or sentences contained herein, or the application thereof in any circumstances, is held invalid, illegal or unenforceable in any respect for any reason, the validity, legality and enforceability of any such provision, subdivision, word,
clause, phrase or sentence in every other respect and of the remaining provisions, subdivisions, words, clauses, phrases or sentences hereof shall not in any way be impaired, it being intended that all rights, powers and privileges of the Company,
its subsidiaries and the Participants shall be enforceable to the fullest extent permitted by law. 


  

	5.11	 Governing Law. The provisions of, and all claims or disputes arising out of or based upon the ESO
Plan 2018 or any Option Grant Agreement, Option or relating to the subject matter hereof or thereof shall be governed by, and construed and enforced in accordance with, the laws of Singapore, without regard to the provisions governing choice or
conflict of laws or rules that would cause the application of the laws of any other jurisdiction. 


  

	5.12	 Limitation of Liability. Notwithstanding anything to the contrary in the ESO Plan 2018, neither
the Company, nor any subsidiary or Affiliate of the Company, nor the Board or the Committee, nor any person acting on behalf of the Company, any subsidiary or Affiliate of the Company, the Board or the Committee, will be liable to any Participant or
to the estate or beneficiary of any Participant or to any other holder of an Option under any circumstances for any costs, losses, expenses and damages whatsoever and howsoever arising in any event or by reason of any acceleration of income, or any
additional tax (including any interest and penalties), asserted with respect to the Option. 


  

	5.13	 Collection, Use and Disclosure of Personal Data. For the purposes of implementing and
administering the ESO Plan 2018, and in order to comply with any Applicable Laws, the Company will collect, use and disclose the personal data of the Participants, as contained in each Option Grant Agreement and/or any other notice or communication
given or received pursuant to the ESO Plan 2018, and/or which is otherwise collected from the Participants (or their authorised representatives). By participating in the ESO Plan 2018, each Participant consents to the collection, use and disclosure
of his or her personal data for all such purposes, including disclosure of data to related corporations of the Company and/or third parties who provide services to the Company in any country or jurisdiction, and to the collection, use and further
disclosure by such parties for such purposes. Each Participant also warrants that where he or she discloses the personal data of third parties to the Company in connection with the ESO Plan 2018, he or she has obtained the prior consent of such
third parties for the Company to collect, use and disclose their personal data for the abovementioned purposes, in accordance with Applicable Law. Each Participant shall indemnify the Company in respect of any penalties, liabilities, claims,
demands, losses and damages as a result of the Participant’s breach of this warranty. 



  
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	5.14	 Contracts (Rights of Third Parties) Act, Chapter 53B of Singapore. No person other than the
Company or a Participant shall have any right to enforce any provision of the ESO Plan 2018 or any Option Grant Agreement and/or Option by virtue of the Contracts (Rights of Third Parties) Act, Chapter 53B of Singapore. 



  
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 EXHIBIT A - FORM OF OPTION GRANT AGREEMENT 

THIS AGREEMENT, made as of this      day of             ,
20     between PropertyGuru Group Limited (the “Company”) and          (the “Participant”). 

WHEREAS: 
  

	(A)	 The Company has adopted and maintains the PropertyGuru Group Limited Employee Stock Option Plan 2018 (the
“ESO Plan 2018”) to promote the interests of the Company and its subsidiaries (collectively the “Group”) by providing selected employees and directors of the Group with an appropriate incentive to
encourage them to continue in the employ of the Group and to improve the growth, profitability and financial success of the Group. 


  

	(B)	 The ESO Plan 2018 provides for the grant to Participants of Options to purchase or subscribe for Ordinary
Shares. 


 NOW, THEREFORE, in consideration of the premises and the mutual covenants hereinafter set forth, the parties hereto
hereby agree as follows: 
  

	1.	 Grant of Options. Pursuant to, and subject to, the terms and conditions set forth herein
and in the ESO Plan 2018, the Company hereby grants to the Participant an Option (the “Option”) with respect to [●] Ordinary Shares. [In consideration for the grant of Options the Participant shall make a payment of S$0.01 to
the Company.] 


 This Option comprises [(a) a Time-Based Option to purchase or subscribe for up to [●] Ordinary
Shares (comprising approximately [●]% of this Option), and (b) a Performance-Based Option to purchase or subscribe for up to [●] Ordinary Shares (comprising approximately [●]% of this Option), in each case] as determined in
Section 5 below. 
  

	2.	 Grant Date. The Grant Date of the Option hereby granted is [●].



  

	3.	 Incorporation of ESO Plan 2018. All terms, conditions and restrictions of the ESO Plan
2018, as amended from time to time, are incorporated herein and made part hereof as if stated herein. If there is any conflict between the terms and conditions of the ESO Plan 2018 and this Agreement, the terms and conditions of the ESO Plan 2018,
as interpreted by the Committee, shall govern, except to the extent this Agreement expressly changes the default provisions contained in the ESO Plan 2018, in which case the provisions of this Agreement shall govern. All capitalised terms used and
not defined herein shall have the meaning given to such terms in the ESO Plan 2018. 



  
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	4.	 Exercise Price. The exercise price of each Ordinary Share underlying the Option hereby
granted is SGD$[●], subject to any requisite adjustments in accordance with the terms of the ESO Plan 2018. 


  

	5.	 Additional Terms of the Option. 



 

	(a)	 In relation to the Time-Based Option to purchase or subscribe for up to [●] Ordinary Shares:



 [●] 
  

	(b)	 In relation to the Performance-Based Option to purchase or subscribe for up to [●] Ordinary Shares:



 [●] 
  

	(c)	 Subject in all cases to the Participant’s active Employment, once the Committee has, in its absolute
discretion, (i) determined that the vesting conditions as set out in this Agreement have been met or (ii) waived the vesting conditions in respect of some or all of the Options, the Committee will notify the Participant of the number of
Options that have vested via the issue of a vesting notice (the “Option Vesting Notice”). The date of the Option Vesting Notice will be the date the Option vests in the Participant, and no Option will vest until the Option
Vesting Notice has been issued. 


 For the purposes of this Section 5, a Participant shall be deemed to have ceased to
be so actively Employed as of the date the notice of termination of Employment is tendered by or is given to him or her, unless such notice shall be withdrawn prior to its effective date. 

 

	6.	 Term of Option; Expiration. The Option shall expire in accordance with the provisions of
the ESO Plan 2018. 


  

	7.	 Construction of Agreement. Any provision of this Agreement (or portion thereof) which is
deemed invalid, illegal or unenforceable in any jurisdiction shall, as to that jurisdiction and subject to this section, be ineffective to the extent of such invalidity, illegality or unenforceability, without affecting in any way the remaining
provisions thereof in such jurisdiction or rendering that or any other provisions of this Agreement invalid, illegal, or unenforceable in any other jurisdiction. If any covenant should be deemed invalid, illegal or unenforceable because its scope is
considered excessive, such covenant shall be modified so that the scope of the covenant is reduced only to the minimum extent necessary to render the modified covenant valid, legal and enforceable. No waiver of any provision or violation of this
Agreement by the Company shall be implied by the Company’s forbearance or failure to take action. 



  
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	8.	 Delays or Omissions. No delay or omission to exercise any right, power or remedy accruing
to any party hereto upon any breach or default of any party under this Agreement, shall impair any such right, power or remedy of such party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or
in any similar breach or default thereafter occurring nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or
character on the part of any party of any breach or default under this Agreement, or any waiver on the part of any party or any provisions or conditions of this Agreement, shall be in writing and shall be effective only to the extent specifically
set forth in such writing. 


  

	9.	 Limitation on Transfer. The Option and all rights thereunder shall be exercisable only by the
Participant and shall not be assignable or transferable. 


  

	10.	 Restrictive Covenants.  



 

	(a)	 In consideration of the Participant’s Employment with the Company and as a condition of the grant of an
Option pursuant to this Agreement, the Participant makes the following covenants described in this Section 10. Notwithstanding anything in the ESO Plan 2018 or this Agreement to the contrary, in the event that the Participant violates any of
the provisions of this Section 10, he or she shall forfeit the Option in full (regardless of the extent to which the Option is vested at the time of such violation). 



 

	(b)	 Non-Competition;
Non-Solicitation; Confidential Information. In addition to what may otherwise be provided in the Participants’ Employment agreement with the Company or any subsidiary of the Company, the
Participant, in consideration of the grant of Options to him or her under the ESO Plan 2018, undertakes that he or she shall not during the Participant’s Employment and for the 12 month period following the termination of the Participant’s
Employment compete by doing or permitting any of the following without the prior written consent of the Company in countries where the Company has a business presence, and acknowledges and agrees that a violation of this restrictive covenant will
entitle the Company to terminate all his or her rights under the ESO Plan 2018 and/or any outstanding grant: 


  

	 	(i)	 become an employee, director, or independent contractor of, or a consultant to, or perform any services for or
on behalf of, any Person engaging in any business activity that competes with the business of the Company or any subsidiary of the Company at such time; 



  
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	 	(ii)	 solicit (including any communication of any kind, regardless of by whom it is initiated) or hire or attempt to
solicit or hire (x) any customer or supplier of the Company or any subsidiary of the Company in connection with any business activity that then competes with the Company or any subsidiary of the Company or to terminate or alter in a manner
adverse to the Company or its Affiliates such customer’s or supplier’s relationship with the Company or its Affiliates, or (y) any Employee or individual who was an Employee within the six-month
period immediately prior thereto to terminate or otherwise alter his or her Employment, provided that Participant’s employer’s or business organisation’s conducting general advertising for employees shall not in and of itself be a
violation of this clause (ii); or 


  

	 	(iii)	 at any time during or following Employment, disclose or use any Confidential Information other than for the
benefit of the Company and its Affiliates, except as required by legal process (provided that if the Participant receives legal process with regard to disclosure of such Confidential Information, he or she shall promptly notify the Company and
cooperate with the Group in seeking a protective order with respect to such Confidential Information). 


  

	(c)	 Non-Disparagement. The Participant shall not,
directly or indirectly, disparage (i) the Company, (ii) the Group, (iii) any subsidiaries or Affiliates of the Company , (iv) any employee, officer, shareholder or director of any of the entities described in clauses (i) through
(iii), or (v) the business or properties or assets of the Company or any of its subsidiaries. Notwithstanding the foregoing, nothing herein shall preclude the Participant from making truthful statements or disclosures that are required by
Applicable Laws. 


  

	(d)	 Enforceability of Covenants. The Participant acknowledges the reasonableness of the term,
geographical territory, and scope of the covenants set forth in this Section 10, and the Participant agrees that he or she will not, in any action, suit or other proceeding, deny the reasonableness of, or assert the unreasonableness of, the
premises, consideration or scope of the covenants set forth herein and the Participant hereby waives any such defence. The Participant further acknowledges that complying with the provisions contained in this Agreement will not preclude the
Participant from engaging in a lawful profession, trade or business, or from becoming gainfully employed. The Participant agrees that the Participant’s covenants under this Section 10 are separate and distinct obligations under this
Agreement, and the failure or alleged failure of the Company or the Board to perform obligations under any other provisions of this Agreement shall not constitute a defence to the enforceability of the Participant’s covenants and obligations
under this Section 10. The Participant agrees that any breach of any covenant under this Section 10 will result in irreparable damage and injury to the Company or one of its subsidiaries and that the Company and/or its subsidiaries will be
entitled to injunctive relief in any court of competent jurisdiction without the necessity of posting any bond. 



  
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	(e)	 Nonexclusive Remedy. In addition to any remedies that may be available in any agreement to
which the Participant is a party, the remedies available for breach of any of the foregoing restrictive covenants shall include: (i) any rights or remedies available in law or in equity, (ii) the forfeiture of the Option for no
consideration; (iii) in respect of the Option (or portion thereof) exercised by the Participant prior to any such breach or subsequent thereto and prior to the forfeiture of the Option (or portion thereof) required by this Section 10,
payment by the Participant to the Company of an amount equal to the difference between the Exercise Price of the Option and the per-share proceeds of any sale of Ordinary Shares acquired upon such exercise
multiplied by the number of Ordinary Shares so sold; and (iv) payment by the Participant to the Group of an amount reimbursing the Group, as applicable, for all attorney’s fees they incur enforcing their rights hereunder.



  

	11.	 Integration. This Agreement, and the other documents referred to herein or delivered pursuant
hereto which form a part hereof contain the entire understanding of the parties with respect to its subject matter. There are no restrictions, agreements, promises, representations, warranties, covenants or undertakings with respect to the subject
matter hereof other than those expressly set forth herein and in the ESO Plan 2018. This Agreement, including without limitation the ESO Plan 2018, supersedes all prior agreements and understandings between the parties with respect to its subject
matter. 


  

	12.	 Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be
deemed an original, but all of which shall constitute one and the same instrument. 


  

	13.	 Governing Law. This Agreement shall be governed by, and construed and enforced in accordance
with, the laws of Singapore, without regard to the provisions governing choice or conflict of laws or rules that would cause the application of the laws of any other jurisdiction. Any provision of this Agreement (or portion thereof) which is deemed
invalid, illegal or unenforceable in any jurisdiction shall, as to that jurisdiction and subject to this Section 13, be ineffective to the extent of such invalidity, illegality or unenforceability, without affecting in any way the remaining
provisions thereof in such jurisdiction or rendering that or any other provisions of this Agreement invalid, illegal, or unenforceable in any other jurisdiction. If any covenant should be deemed invalid, illegal or unenforceable because its scope is
considered excessive, such covenant shall be modified so that the scope of the covenant is reduced only to the minimum extent necessary to render the modified covenant valid, legal and enforceable. 



 

	14.	 Effect on Employment. Nothing contained in this Agreement shall confer upon the Participant any
right with respect to the continuation of his or her Employment or interfere in any way with the right of the Company or any of its subsidiaries, subject to the terms of any separate employment agreements to the contrary, at any time to terminate
such Employment or to increase or decrease the compensation of the Participant from the rate in existence at the time of the grant of any Option. 



  
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	15.	 Participant Representations; Acknowledgments. The Participant hereby acknowledges receipt of a
copy of the ESO Plan 2018. The Participant hereby acknowledges that all decisions, determinations and interpretations of the Committee in respect of the ESO Plan 2018, this Agreement and the Option shall be final and conclusive. The Participant
further acknowledges that if, following the date the Participant receives the Option pursuant to this Agreement, the Company determines that any of the representations made by the Participant under this Section 15 is inaccurate, the grant of
the Option to the Participant pursuant to this Agreement may, in the sole discretion of the Board, be rescinded and deemed null and void. 



*     *    *    *    * 

IN WITNESS WHEREOF, the Company has caused this Agreement to be duly executed by its duly authorised officer and said Participant has hereunto signed
this Agreement on his or her own behalf, thereby representing that he or she has carefully read and understands this Agreement and the ESO Plan 2018 as of the day and year first written above. 

 

	
	PROPERTYGURU GROUP LIMITED
	
	
                     
                   

	By:
	Title:
	
	PARTICIPANT
	
	
                     
                    

	[Participant’s name]



  
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