Document:

EX-10.19

 Exhibit 10.19 

[Execution Version] 
 STRICTLY
CONFIDENTIAL 
 PURCHASE AGREEMENT 

dated as of March 25, 2018 

by and among 
 GRAB
HOLDINGS INC., 
 UBER INTERNATIONAL C.V. 

and 
 APPARATE
INTERNATIONAL C.V. 

 TABLE OF CONTENTS 

 

							
	 	  	Page	 
	 ARTICLE I ASSIGNMENT OF ASSETS; ASSUMPTION OF LIABILITIES
	  	 	3	 
			
	 Section 1.1
	 	Assignment of Dutch Acquired Assets	  	 	3	 
	 Section 1.2
	 	Assignment of Local Acquired Assets	  	 	4	 
	 Section 1.3
	 	Excluded Assets.	  	 	4	 
	 Section 1.4
	 	Assumption of Liabilities of the Seller Business	  	 	5	 
	 Section 1.5
	 	Excluded Liabilities	  	 	6	 
	 Section 1.6
	 	Process for Assignment of Acquired Assets	  	 	8	 
	 Section 1.7
	 	Further Assurances	  	 	10	 
	 Section 1.8
	 	Shared Contracts	  	 	11	 
	 Section 1.9
	 	Bills of Sale	  	 	13	 
		
	 ARTICLE II ASSET CONSIDERATION; DELIVERY OF SECURITIES
	  	 	13	 
			
	 Section 2.1
	 	Asset Consideration	  	 	13	 
	 Section 2.2
	 	Treatment of Seller Share Awards	  	 	14	 
	 Section 2.3
	 	Issuance of Purchaser Series G Preference Shares	  	 	16	 
	 Section 2.4
	 	Additional Purchaser Series G Preference Shares	  	 	18	 
	 Section 2.5
	 	Agreement of Fair Value	  	 	19	 
		
	 ARTICLE III POST-CLOSING ADJUSTMENT
	  	 	19	 
			
	 Section 3.1
	 	Net Working Capital and Cash Adjustments; Payment of Closing Estimates	  	 	19	 
	 Section 3.2
	 	Examination and Review	  	 	22	 
	 Section 3.3
	 	Determination and Payment of Post-Closing Adjustment	  	 	24	 
		
	 ARTICLE IV REPRESENTATIONS AND WARRANTIES OF SELLER
	  	 	24	 
			
	 Section 4.1
	 	Organization, Good Standing and Qualification	  	 	25	 
	 Section 4.2
	 	Capitalization and Voting Rights	  	 	25	 
	 Section 4.3
	 	Corporate Structure; Subsidiaries	  	 	26	 
	 Section 4.4
	 	Authorization	  	 	27	 
	 Section 4.5
	 	Consents; No Conflicts	  	 	27	 
	 Section 4.6
	 	Compliance with Laws; Consents	  	 	28	 
	 Section 4.7
	 	Tax Matters	  	 	30	 
	 Section 4.8
	 	Financial Statements	  	 	31	 
	 Section 4.9
	 	Absence of Changes	  	 	31	 
	 Section 4.10
	 	Actions	  	 	33	 
	 Section 4.11
	 	Liabilities	  	 	33	 
	 Section 4.12
	 	Commitments	  	 	33	 
	 Section 4.13
	 	Title; Properties	  	 	34	 
	 Section 4.14
	 	Interested Party Transactions	  	 	36	 
	 Section 4.15
	 	Intellectual Property Rights	  	 	37	 
	 Section 4.16
	 	Labor and Employee Matters	  	 	39	 
	 Section 4.17
	 	Insurance Matters	  	 	42	 

  
 i 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	  	Page	 
	 Section 4.18
	 	Brokers	  	 	42	 
	 Section 4.19
	 	Securities Laws	  	 	42	 
	 Section 4.20
	 	No Additional Representations or Warranties	  	 	42	 
	 Section 4.21
	 	Separate and Independent Representations and Warranties	  	 	43	 
		
	 ARTICLE V REPRESENTATIONS AND WARRANTIES OF PURCHASER
	  	 	43	 
			
	 Section 5.1
	 	Organization, Good Standing and Qualification	  	 	43	 
	 Section 5.2
	 	Capitalization and Voting Rights	  	 	44	 
	 Section 5.3
	 	Corporate Structure; Subsidiaries	  	 	45	 
	 Section 5.4
	 	Authorization	  	 	45	 
	 Section 5.5
	 	Valid Issuance of Shares	  	 	46	 
	 Section 5.6
	 	Consents; No Conflicts	  	 	46	 
	 Section 5.7
	 	Compliance with Laws; Consents	  	 	47	 
	 Section 5.8
	 	Tax Matters	  	 	48	 
	 Section 5.9
	 	Financial Statements	  	 	50	 
	 Section 5.10
	 	Absence of Changes	  	 	50	 
	 Section 5.11
	 	Actions	  	 	51	 
	 Section 5.12
	 	Liabilities	  	 	51	 
	 Section 5.13
	 	Commitments	  	 	52	 
	 Section 5.14
	 	Title; Properties	  	 	53	 
	 Section 5.15
	 	Intellectual Property Rights	  	 	53	 
	 Section 5.16
	 	Labor and Employee Matters	  	 	55	 
	 Section 5.17
	 	Interested Party Transactions	  	 	57	 
	 Section 5.18
	 	Insurance Matters	  	 	58	 
	 Section 5.19
	 	Brokers	  	 	58	 
	 Section 5.20
	 	No Additional Representations or Warranties	  	 	58	 
	 Section 5.21
	 	Separate and Independent Representations and Warranties	  	 	58	 
		
	 ARTICLE VI CERTAIN COVENANTS OF THE PARTIES
	  	 	59	 
			
	 Section 6.1
	 	Lion City Transaction	  	 	59	 
	 Section 6.2
	 	Public Announcement	  	 	64	 
	 Section 6.3
	 	Confidentiality	  	 	65	 
	 Section 6.4
	 	Antitrust Law and Related Matters	  	 	65	 
	 Section 6.5
	 	Purchaser Cash Balance	  	 	67	 
	 Section 6.6
	 	Employee Matters	  	 	68	 
	 Section 6.7
	 	Post-Closing Cooperation	  	 	73	 
	 Section 6.8
	 	Non-Competition	  	 	74	 
	 Section 6.9
	 	Non-Solicitation	  	 	76	 
	 Section 6.10
	 	2017 Bonuses and 2018 Equity Refresh Grants	  	 	78	 
	 Section 6.11
	 	Covenant Not to Sue; Release	  	 	79	 
		
	 ARTICLE VII TAX MATTERS
	  	 	82	 

  
 ii 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	  	Page	 
	 Section 7.1
	 	Tax Contests	  	 	82	 
	 Section 7.2
	 	Tax Information	  	 	83	 
	 Section 7.3
	 	Tax Refunds	  	 	83	 
	 Section 7.4
	 	Transfer Taxes and Liquidation Costs	  	 	84	 
	 Section 7.5
	 	Section 351 Transaction	  	 	84	 
	 Section 7.6
	 	Controlled Foreign Corporations	  	 	85	 
		
	 ARTICLE VIII THE CLOSING
	  	 	85	 
			
	 Section 8.1
	 	Closing	  	 	85	 
	 Section 8.2
	 	Seller’s Closing Deliverables	  	 	85	 
	 Section 8.3
	 	Purchaser’s Closing Deliverables	  	 	86	 
		
	 ARTICLE IX INDEMNIFICATION
	  	 	87	 
			
	 Section 9.1
	 	Seller Indemnification	  	 	87	 
	 Section 9.2
	 	Purchaser Indemnification	  	 	88	 
	 Section 9.3
	 	Time Limits	  	 	89	 
	 Section 9.4
	 	Contingent Liabilities	  	 	90	 
	 Section 9.5
	 	Monetary and Other Limits	  	 	90	 
	 Section 9.6
	 	Sums Recovered from Third Parties	  	 	92	 
	 Section 9.7
	 	No Double Recovery	  	 	92	 
	 Section 9.8
	 	Third Party Claims	  	 	92	 
	 Section 9.9
	 	Insurance; Mitigation	  	 	95	 
	 Section 9.10
	 	Consequential and Punitive Loss	  	 	95	 
	 Section 9.11
	 	General	  	 	95	 
		
	 ARTICLE X MISCELLANEOUS
	  	 	97	 
			
	 Section 10.1
	 	Certain Definitions	  	 	97	 
	 Section 10.2
	 	Governing Law	  	 	116	 
	 Section 10.3
	 	Assignment; Binding Upon Successors and Assigns	  	 	116	 
	 Section 10.4
	 	Severability	  	 	117	 
	 Section 10.5
	 	Counterparts	  	 	117	 
	 Section 10.6
	 	Other Remedies	  	 	117	 
	 Section 10.7
	 	Amendments and Waivers	  	 	118	 
	 Section 10.8
	 	Specific Performance	  	 	118	 
	 Section 10.9
	 	Notices	  	 	118	 
	 Section 10.10
	 	Interpretation; Rules of Construction	  	 	119	 
	 Section 10.11
	 	Third Party Beneficiary Rights	  	 	119	 
	 Section 10.12
	 	Dispute Resolution	  	 	120	 
	 Section 10.13
	 	Process Agent	  	 	121	 
	 Section 10.14
	 	Disclosure Letters	  	 	122	 
	 Section 10.15
	 	Entire Agreement	  	 	122	 
	 Section 10.16
	 	No Set Off, Deduction or Counterclaim	  	 	123	 
	 Section 10.17
	 	No Partnership	  	 	123	 

  
 iii 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	  	Page	 
	 Section 10.18
	 	Tax	  	 	123	 
	 Section 10.19
	 	Language	  	 	123	 
	 Section 10.20
	 	Expenses	  	 	123	 
	 Section 10.21
	 	Exchange Rate	  	 	123	 

  
 iv 

 EXHIBITS 
  

							
	Exhibit 1.3(a)	 	 Dutch Excluded Assets
	  			
	Exhibit 1.3(b)(i)	 	 Local Excluded Assets
	  			
	Exhibit 1.5(a)(i)	 	 Dutch Excluded Liabilities
	  			
	Exhibit 1.5(b)(i)	 	 Local Excluded Liabilities
	  			
	Exhibit 2.3(a)	 	 Assignment Agreements
	  			
	Exhibit 2.3(b)(i)	 	 Local Promissory Notes for Indonesia and Vietnam
	  			
	Exhibit 2.3(b)(ii)	 	 Allocation of Purchaser Series G Preference Shares Among Local Support Companies
	  			
	Exhibit 3.1(b)(i)	 	 Estimated Closing Net Working Capital Amount and Estimated Closing Seller Transferred Business Net
Cash Amount
	  			
	Exhibit 3.1(b)(ii)	 	 Estimated Closing Purchaser Net Cash Amount
	  			
	Exhibit 6.1(a)(iii)(B)	 	 Lion City Transitional Services
	  			
	Exhibit 6.1(d)(iii)(B)	 	 Outline of the Principal Terms of Contribution Agreement
	  			
	Exhibit 6.4(b)	 	 Proposed Remedies and Cost-Sharing Mechanism
	  			
	Annex A to Exhibit 6.4(b)	 	 Calculation of Net Economic Damages
	  			
	Schedule 1 to Annex A to Exhibit 6.4(b)	 	 Net Economic Damage Calculator
	  			
	Exhibit 6.4(d)	 	 Illustrative Legal Fee Calculation
	  			
	Exhibit 6.6(a)(i)	 	 Form of Purchaser Restricted Stock Units Agreement
	  			
	Exhibit 6.6(a)(ii)	 	 Form of Purchaser Share Options Award Agreement
	  			
	Exhibit 6.6(a)(iv)	 	 Severance Protection
	  			
	Exhibit 6.7(d)	 	 Form of Uni EATS Bill of Sale
	  			
	Exhibit 6.11(a)	 	 Patents
	  			
	Exhibit 7.4(b)	 	 Taxes Attributable to LSE Assignment
	  			
	Exhibit 9.2(i)	 	 Special Indemnity Matters
	  			
	Exhibit 10.1(A)	 	 Amended Purchaser Articles
	  			
	Exhibit 10.1(B)	 	 Bill of Sale with respect to Delayed Assets and Delayed Liabilities
	  			
	Exhibit 10.1(C)	 	 Data Definitions
	  			
	Exhibit 10.1(D)	 	 Shared Contracts
	  			

 DEFINED TERMS 
  

					
	 2018 Bonus Opportunity
	  	 	4.16(h)	 
	 351 Contributions
	  	 	Recitals	 
	 Acquiring Entities
	  	 	6.11(c)	 
	 Aggregate Purchaser Expenses
	  	 	6.4(d)	 
	 Agreement
	  	 	Preamble	 

  
 v 

					
	 Annual Raises
	  	 	4.16(h)	 
	 Anticorruption Laws
	  	 	4.6(d)	 
	 APAC
	  	 	6.11(d)(A)	 
	 Asset Consideration
	  	 	2.1	 
	 Canceled Purchaser Equity Award
	  	 	2.4(a)	 
	 Cap
	  	 	9.5(a)	 
	 Cayman Companies Law
	  	 	Recitals	 
	 CCS
	  	 	Recitals	 
	 CCS Disapproval
	  	 	6.1(e)	 
	 CFC
	  	 	7.6(b)	 
	 Change in Control
	  	 	6.11(c)	 
	 Closing
	  	 	1.1	 
	 Closing Date
	  	 	Preamble	 
	 Closing Net Working Capital Amount
	  	 	3.1(a)(i)	 
	 Closing Purchaser Net Cash Amount
	  	 	3.1(a)(ii)	 
	 Closing Purchaser Net Cash Payment
	  	 	3.1(c)(ii)	 
	 Closing Seller Adjustment Payment
	  	 	3.1(c)(i)	 
	 Closing Seller Transferred Business Net Cash Amount
	  	 	3.1(a)(iii)	 
	 Collaboration Agreement
	  	 	Recitals	 
	 Comfort
	  	 	Recitals	 
	 Contribution Agreement
	  	 	6.1(d)(iii)(B)	 
	 Cooperation Period
	  	 	1.6(b)	 
	 Covenant Not to Sue
	  	 	6.11(a)	 
	 Covenant Period
	  	 	6.11(d)(C)	 
	 Covered Entity
	  	 	6.11(c)	 
	 Current Patents
	  	 	6.11(a)	 
	 Deemed Exercise Rules
	  	 	2.2(e)	 
	 Defense
	  	 	6.1(g)(i)	 
	 Designated Business
	  	 	6.11(a)	 
	 Designated Transition Employees
	  	 	6.6(l)	 
	 Designated Transition Period
	  	 	6.6(l)	 
	 Disclosing Party
	  	 	6.2	 
	 Dispute
	  	 	10.12	 
	 Dutch Assignment
	  	 	1.1	 
	 Dutch Assumed Liabilities
	  	 	1.4(a)	 
	 Dutch Excluded Assets
	  	 	1.3(a)	 
	 Dutch Excluded Liabilities
	  	 	1.5(a)	 
	 Effect
	  	 	10.1	 
	 Estimated Closing Net Working Capital Amount
	  	 	3.1(b)	 
	 Estimated Closing Purchaser Net Cash Amount
	  	 	3.1(b)	 
	 Estimated Closing Seller Transferred Business Net Cash Amount
	  	 	3.1(b)	 
	 Excluded Employees
	  	 	6.6(a)	 
	 Fair Market Value
	  	 	9.11(e)	 
	 Final Closing Net Working Capital Amount
	  	 	3.2(d)	 
	 Final Closing Purchaser Net Cash Amount
	  	 	3.2(d)	 
	 Final Closing Purchaser Net Cash Payment
	  	 	3.1(a)(v)	 

  
 vi 

					
	 Final Closing Seller Adjustment Payment
	  	 	3.1(a)(iv)	 
	 Final Closing Seller Transferred Business Net Cash Amount
	  	 	3.2(d)	 
	 FMV Arbitrator
	  	 	9.11(e)	 
	 Former Seller Business Employee
	  	 	6.6(c)(i)	 
	 Government Official
	  	 	4.6(d)	 
	 Guarantee
	  	 	Recitals	 
	 Independent Accountants
	  	 	3.2(c)	 
	 Lion City Car
	  	 	6.1(a)(iii)(B)I	 
	 Lion City Closing
	  	 	6.1(d)	 
	 Lion City Shareholders Agreement
	  	 	Recitals	 
	 Lion City SPA
	  	 	Recitals	 
	 Lion City Transaction
	  	 	Recitals	 
	 Lion City Transitional Services
	  	 	6.1(a)(iii)(B)	 
	 Local Assumed Liabilities
	  	 	1.4(b)	 
	 Local Excluded Assets
	  	 	1.3(b)	 
	 Local Excluded Liabilities
	  	 	1.5(b)	 
	 Local Promissory Notes
	  	 	2.3(b)	 
	 LSE Assignment
	  	 	1.2	 
	 Midco
	  	 	7.6(a)	 
	 Mieten B.V.
	  	 	Recitals	 
	 Mutual NDA
	  	 	6.3	 
	 Mutual Valuation Period
	  	 	9.11(e)	 
	 Neben
	  	 	2.3(d)	 
	 Negotiation Period
	  	 	10.12	 
	 Net Working Capital Floor
	  	 	3.1(a)(vi)	 
	 New Patents
	  	 	6.11(a)	 
	 Non-Disclosing Party
	  	 	6.2	 
	 Old Sake Parent
	  	 	Recitals	 
	 Other Assets
	  	 	1.6(a)	 
	 Parties
	  	 	Preamble	 
	 PDVL
	  	 	6.1(a)(iii)(B)III	 
	 PFIC
	  	 	7.6(b)	 
	 Privacy Agreements
	  	 	4.15(d)	 
	 Pro-Forma Balance Sheet
	  	 	4.8	 
	 Prohibited Transfer
	  	 	4.7(e)	 
	 Purchaser
	  	 	Preamble	 
	 Purchaser Acquisition
	  	 	6.11(c)	 
	 Purchaser Financial Statements
	  	 	5.9	 
	 Purchaser IT Systems
	  	 	5.15(g)	 
	 Purchaser Lease
	  	 	5.14(b)	 
	 Purchaser Material Lease
	  	 	5.14(b)	 
	 Purchaser Net Cash Floor
	  	 	3.1(a)(vii)	 
	 Purchaser Ordinary Shares
	  	 	2.2(b)	 
	 Purchaser Parties
	  	 	6.11(a)	 
	 Purchaser Preference Shares
	  	 	5.2(e)	 
	 Purchaser Prohibited Employees
	  	 	6.9(a)	 

  
 vii 

					
	 Purchaser Required Governmental Authorizations
	  	 	5.7(b)	 
	 Purchaser Restricted Stock Unit
	  	 	2.2(b)	 
	 Purchaser Restructuring
	  	 	Recitals	 
	 Purchaser Series G Preference Shares
	  	 	2.1	 
	 Purchaser Share Option
	  	 	2.2(c)(i)	 
	 Purchaser Statement
	  	 	3.1(e)	 
	 Purchaser Statement Date
	  	 	5.9	 
	 Related Entities
	  	 	6.11(c)	 
	 Remaining Lion City Interest
	  	 	6.1(d)(i)	 
	 Required License
	  	 	6.1(f)(ii)	 
	 Residuals
	  	 	6.11(c)	 
	 Resolution Period
	  	 	3.2(b)	 
	 Restructuring HoldCo
	  	 	Recitals	 
	 Review Period
	  	 	3.2(a)	 
	 Ride-Hailing Business
	  	 	6.11(a)	 
	 Rules
	  	 	10.12	 
	 Sake LCR Driver
	  	 	6.1(a)(iii)(B)I	 
	 Seller
	  	 	Preamble	 
	 Seller 1
	  	 	Preamble	 
	 Seller 2
	  	 	Preamble	 
	 Seller Business Employee Census
	  	 	4.16(h)	 
	 Seller Expense Cap
	  	 	6.4(d)	 
	 Seller Financial Statements
	  	 	4.8	 
	 Seller IT Systems
	  	 	4.15(e)	 
	 Seller Lease
	  	 	4.13(b)	 
	 Seller Material Assigned Contracts
	  	 	4.12(a)	 
	 Seller Material Lease
	  	 	4.13(b)	 
	 Seller Parties
	  	 	6.11(a)	 
	 Seller Percentage
	  	 	3.1(c)(ii)	 
	 Seller Prohibited Employees
	  	 	6.9(b)	 
	 Seller Related Party Transactions
	  	 	4.14	 
	 Seller Required Governmental Authorizations
	  	 	4.6(b)	 
	 Seller Retained Severance Costs
	  	 	Section 6.6(c)(ii)	 
	 Seller Statement Date
	  	 	4.8	 
	 Seller’s Ownership Proportion
	  	 	3.1(c)(ii)	 
	 Shared Contracts Arrangements
	  	 	1.8	 
	 Shared Contracts Customization Period
	  	 	1.8	 
	 Specified Assets
	  	 	1.6(a)	 
	 Specified Local Assets
	  	 	1.6(a)	 
	 Standstill Date
	  	 	6.9(c)	 
	 Statement of Disagreement
	  	 	3.2(a)	 
	 Summary Procedure
	  	 	10.12(c)	 
	 Tax Contest
	  	 	7.1	 
	 Territory Patents
	  	 	6.11(a)	 
	 Third Party
	  	 	10.11	 
	 Third Party Claim
	  	 	9.8(a)	 

  
 viii 

					
	 Third Party Claim Notice
	  	 	9.8(a)(i)	 
	 Threshold
	  	 	9.5(b)(ii)	 
	 Transaction Regulatory Filings
	  	 	6.4(a)	 
	 Transfer and Liquidation Costs
	  	 	7.4(b)	 
	 Transfer Taxes
	  	 	7.4(a)	 
	 Transferred Statutory Plans
	  	 	1.3(b)	 
	 Uni Prescribed Period
	  	 	6.8(a)	 
	 Vested Seller Parent Share Awards
	  	 	2.2(a)	 

  
 ix 

 PURCHASE AGREEMENT 

THIS PURCHASE AGREEMENT (this “Agreement”), dated as of March 25, 2018 (the “Closing Date”), is by and
among Grab Holdings Inc., an exempted company with limited liability incorporated under the laws of the Cayman Islands (“Purchaser”), Uber International C.V., a commanditaire vennootschap formed under the laws of The
Netherlands acting through and represented by its general partner Neben, LLC, a Delaware limited liability company (“Seller 1”), Apparate International C.V., a commanditaire vennootschap formed under the
laws of The Netherlands acting through and represented by its general partner Neben, LLC, a Delaware limited liability company (“Seller 2”, and, together with Seller 1, “Seller”, and, together
with Purchaser, the “Parties”). For purposes of this Agreement, references to “Seller” shall mean each and both of Seller 1 and Seller 2. 

RECITALS 
 WHEREAS, Seller
and its Subsidiaries are engaged in the Seller Business; 
 WHEREAS, Purchaser wishes to acquire the Acquired Assets and assume the Assumed
Liabilities, directly or indirectly through its Subsidiaries, from Seller and its Affiliates, and Seller wishes to transfer, assign, convey and deliver (or cause to be transferred, assigned, conveyed and delivered), directly and indirectly through
its Affiliates, the Acquired Assets and the Assumed Liabilities to Purchaser and its Subsidiaries, subject to the terms and conditions set forth herein; 

WHEREAS, prior to the Closing Date, Mieten B.V., a besloten vennootschap formed under the laws of The Netherlands and a wholly-owned
Subsidiary of Seller 1 (“Mieten B.V.”), has entered into that certain Sale and Purchase Agreement dated December 8, 2017 with ComfortDelGro Corporation Limited, a company incorporated in Singapore
(“Comfort”), pursuant to which, among other things, Mieten B.V. agreed to sell and transfer 51% of the outstanding capital stock of Lion City Rentals to Comfort (the “Lion City Transaction,” and such Sale and
Purchase Agreement, the “Lion City SPA”). In connection with the Lion City Transaction, (i) Uber B.V., a besloten vennootschap formed under the laws of The Netherlands, Comfort, and the other parties thereto also entered
into that certain Commercial Collaboration Agreement dated December 8, 2017 (the “Collaboration Agreement”) and (ii) Mieten B.V., Comfort, and the other parties thereto will, on or prior to the closing of the Lion City
Transaction, enter into that certain Shareholders’ Agreement in respect of Lion City Rentals (the “Lion City Shareholders Agreement”). The consummation of the Lion City Transaction and the consummation of certain provisions of
the Collaboration Agreement are subject to, among other things, approval by the Competition Commission of Singapore (the “CCS”). 

WHEREAS, Seller 1, directly or indirectly, owns all of the issued and outstanding share capital of the Local Support Companies (other than a
de minimis number of director qualifying and nominee shares); 

  
 1 

 WHEREAS, Seller owns or has a valid leasehold, contractual or other interest in all of the
Acquired Assets as follows: Seller 1 owns, indirectly through the Local Support Companies, all of the Local Acquired Assets, and Seller owns or has a valid leasehold, contractual or other interest in, directly and indirectly through its
Subsidiaries, all of the Dutch Acquired Assets; 
 WHEREAS, concurrently with the execution and delivery of this Agreement, upon the terms
and subject to the conditions of this Agreement, Seller 2 is transferring, assigning, conveying and delivering, and, at the direction of Seller 2, Seller 1 is causing its Subsidiaries to transfer, assign, convey and deliver to Purchaser all of the
Dutch Acquired Assets other than the Uni EATS Assets; 
 WHEREAS, concurrently with the execution and delivery of this Agreement, upon the
terms and subject to the conditions of this Agreement, Seller 1 is causing the Local Support Companies to transfer, assign, convey and deliver to one or more Purchaser Group Companies, at the direction of Purchaser, all of the Local Acquired Assets
other than the Delayed Assets; 
 WHEREAS, concurrently with the consummation of the Closing, in accordance with the Cayman Islands
Companies Law Cap. 22 (Law 3 of 1961, as consolidated and revised) (the “Cayman Companies Law”), Purchaser, Grab Inc., an exempted company with limited liability incorporated under the laws of the Cayman Islands (“Old Sake
Parent”), and E Holdings, Inc., an exempted company with limited liability incorporated under the laws of the Cayman Islands and a wholly-owned subsidiary of Purchaser (“Restructuring HoldCo”), are entering into a merger
transaction pursuant to which Restructuring HoldCo is merging with and into Old Sake Parent (the “Purchaser Restructuring”), with Old Sake Parent surviving the Purchaser Restructuring as a wholly-owned Subsidiary of Purchaser, and
the issued and outstanding ordinary shares and preference shares of Old Sake Parent will be cancelled and converted into the right of Old Sake Parent’s shareholders to receive Purchaser Ordinary Shares or Purchaser Preference Shares, as the
case may be, of corresponding class and series; 
 WHEREAS, pursuant to the Purchaser Restructuring, all of the shares of stock of Old Sake
Parent issued and outstanding immediately prior to the Closing shall be cancelled in consideration for the Old Sake Parent’s shareholders right to receive shares of Purchaser; 

WHEREAS, the board of directors of Purchaser has (i) approved the execution, delivery and performance by Purchaser of this Agreement and
the consummation by Purchaser of the Transaction and the Purchaser Restructuring, (ii) determined that it is in the best interests of Purchaser and declared it advisable for Purchaser to enter into this Agreement and the other Transaction
Documents to which it is a party, and (iii) approved the issuance of the Purchaser Series G Preference Shares pursuant to the terms of this Agreement; 

WHEREAS, the shareholders of Purchaser have authorized and approved the Purchaser Restructuring, this Agreement, the other Transaction
Documents and the performance by Purchaser of its obligations hereunder and thereunder by way of special resolution or such other authorizations, if any, as may be required; 

  
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 WHEREAS, each of the board of directors (or duly authorized committee thereof) or the
equivalent thereof, as applicable, of Seller and Seller Parent has (i) approved the execution, delivery and performance by Seller of this Agreement and the other Transaction Documents to which it is or will be a party and the consummation by
Seller of the Transaction, and (ii) determined that it is in the best interests of Seller and its partners, and declared it advisable for Seller to enter into this Agreement and the other Transaction Documents to which it is or will be a party;

 WHEREAS, for U.S. federal income tax purposes, the Parties intend that the Dutch Assignment, and the Purchaser Restructuring, considered
together (the “351 Contributions”), shall be treated as a tax-free exchange described in Section 351 of the Code, pursuant to which (i) Seller 2 shall be deemed to contribute the
Dutch Acquired Assets to Purchaser in exchange for the Purchaser Series G Preference Shares issuable pursuant to Article II and any cash payable pursuant to Article III and (ii) Old Sake Parent’s shareholders shall be deemed to contribute
the shares of Old Sake Parent to Purchaser in exchange for shares of Purchaser, and the receipt of cash, if any, by Seller 2 shall be treated as taxable “boot” under Section 351(b) of the Code; and 

WHEREAS, among other things, concurrently with the execution and delivery of this Agreement, Seller Parent is delivering a Guarantee (the
“Guarantee”) to Purchaser pursuant to which, among other things, Seller Parent irrevocably guarantees to Purchaser and the Local Support Companies the timely payment and performance of all of Seller’s and its Affiliates’
obligations hereunder and under the other Transaction Documents. 
 NOW, THEREFORE, in consideration of the premises and the
representations, warranties, covenants and agreements herein contained, and intending to be legally bound hereby, the Parties hereby agree as follows: 

ARTICLE I 
 ASSIGNMENT OF
ASSETS; ASSUMPTION OF LIABILITIES 
 Section 1.1 Assignment of Dutch Acquired Assets. Upon the terms and subject to the
conditions set forth in this Agreement, and subject to the applicable provisions of Section 1.6 and Section 1.7 and the Transitional Services Agreement, concurrently with the execution and delivery of this Agreement (the
“Closing”), Seller 2 is hereby transferring, assigning, conveying and delivering, and, at the direction of Seller 2, Seller 1 is hereby causing its Subsidiaries to transfer, assign, convey and deliver, to Purchaser all of the Dutch
Acquired Assets, free and clear of all Encumbrances other than Permitted Encumbrances, and Purchaser is acquiring and accepting the Dutch Acquired Assets, in each case pursuant to the applicable Bill of Sale; provided, that (i) the
Seller Territory Data shall be transferred, assigned and conveyed hereby but the actual delivery thereof to the applicable Purchaser Group Company shall be accomplished in accordance with Section 1.6(e) and the procedures and timing set forth
in the Transition Services Agreement, including the Data Attachment to Schedule 3 of the Transition Services Agreement, and (ii) the Uni EATS Assets shall be transferred, assigned, conveyed and delivered in accordance with the procedures
and timing set forth in Section 6.7(d) (collectively, the “Dutch Assignment”). 

  
 3 

 Section 1.2 Assignment of Local Acquired Assets. Upon the terms and subject to
the conditions set forth in this Agreement, and subject to the applicable provisions of Section 1.6 and Section 1.7, concurrently with the execution and delivery of this Agreement, Seller 1 is hereby causing the Local Support Companies to
transfer, assign, convey and deliver to one or more Purchaser Group Companies, at the direction of Purchaser, all of the Local Acquired Assets, free and clear of all Encumbrances other than Permitted Encumbrances, and the relevant Purchaser Group
Company is acquiring and accepting the Local Acquired Assets, in each case pursuant to the applicable Bill of Sale; provided, that any Delayed Assets that are Local Acquired Assets shall be transferred, assigned, conveyed and delivered as
soon as practicable following the last and final Employee Services Expiration Date for the Seller Business Employees located in the Philippines or such earlier date as mutually agreed by the Parties but at the same time as the Delayed Liabilities
(such transfer, assignment, conveyance and delivery, collectively, the “LSE Assignment”). 
 Section 1.3 Excluded
Assets.  
 (a) Dutch Excluded Assets. Notwithstanding any other provision of this Agreement or the Bills of Sale, none of
the following shall be considered or constitute Dutch Acquired Assets (but shall remain with Seller 2 or, respectively, the Subsidiaries of Seller 1 following the consummation of the Closing): (i) any of the assets, properties and third-party
agreements that are listed on Exhibit 1.3(a), (ii) all Intellectual Property (other than Seller Territory Data), (iii) any bank accounts of Seller and its Affiliates, (iv) any insurance policies and rights, claims or causes of
action thereunder, (v) any assets relating to any Seller Benefit Plans, (vi) all rights, claims and causes of action available to or being pursued by the Seller or any of its Affiliates, whether arising by way of counterclaim or otherwise,
to the extent related to the Dutch Excluded Assets or Dutch Excluded Liabilities, (vii) any share capital in the Seller or any of its Affiliates, including any share capital of Lion City Rentals, (viii) all rights of Seller under this
Agreement and the Transaction Documents, (ix) all confidential communications between the Seller and its Affiliates on the one hand, and any internal or external legal counsel, on the other hand, (x) any refund of Taxes indemnifiable by
Seller pursuant to Section 9.1, (xi) corporate seals, corporate books and records of internal corporate proceedings of Seller and its Affiliates, (xii) except as provided in Section 1.3(b) with respect to the Local Acquired Assets,
Tax and accounting records and work papers of Seller, its Subsidiaries and its Affiliates, (xiii) any of the Lion City Agreements, (xiv) any Seller Books and Records, and (xv) any Shared Contracts (collectively, the “Dutch
Excluded Assets”). 

  
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 (b) Local Excluded Assets. Notwithstanding any other provision of this Agreement or
the Bills of Sale, none of the following shall be considered or constitute Local Acquired Assets (but shall remain with the applicable Local Support Company following the consummation of the Closing): (i) any of the assets, properties and
third-party agreements that are listed on Exhibit 1.3(b)(i), (ii) all Intellectual Property (other than Seller Territory Data), (iii) all of the Local Support Companies’ bank accounts, (iv) any insurance policies and rights,
claims or causes of action thereunder, (v) any assets relating to any Seller Benefit Plans (other than any Seller Benefit Plans that are required to be transferred pursuant to Applicable Law (such Seller Benefit Plans, the “Transferred
Statutory Plans” )), (vi) all rights, claims and causes of action available to or being pursued by the Seller or any of its Affiliates, whether arising by way of counterclaim or otherwise, to the extent related to the Local Excluded Assets
or Local Excluded Liabilities, (vii) any share capital in the Seller or any of its Affiliates, (viii) all rights of Seller and the Local Support Companies under this Agreement and the Transaction Documents, (ix) any refund of Taxes
indemnifiable by Seller pursuant to Section 9.1, (x) all confidential communications between a Local Support Company on the one hand, and any internal or external legal counsel, on the other hand, (xi) corporate seals, corporate books and
records of internal corporate proceedings of Seller and its Affiliates, (xii) all of the assets, properties, privileges, claims and rights of Viet Car Rental Company Limited, a Vietnamese company, (xiii) Tax and accounting records and work
papers of Seller, its Subsidiaries and its Affiliates, except for (A) originals of such Tax and accounting records and work papers of the applicable Local Support Company necessary for Purchaser or the applicable Purchaser Group Company to
comply with Sections 34(b) and 46 of the Singapore Goods and Services Tax Act and Sections 36 and 38 of the Malaysian Goods and Services Tax Act of 2014 (in which case copies of such Tax and accounting records and work papers shall be Excluded
Assets) and (B) upon Purchaser’s request from time to time, copies of such Tax and accounting records and work papers of the applicable Local Support Company necessary for Purchaser or the applicable Purchaser Group Company to comply with
local Tax reporting requirements, and (xiv) any Shared Contracts (collectively, the “Local Excluded Assets”). 

Section 1.4 Assumption of Liabilities of the Seller Business. 

(a) Dutch Assumed Liabilities. Upon the terms and subject to the conditions set forth in this Agreement, and subject to the exclusions
contained in Section 1.5(a), Purchaser is assuming, concurrently with the execution and delivery of this Agreement, (i) all Liabilities under the Dutch Assigned Contracts and (ii) all other Liabilities of Seller 2, Seller 1 and their
respective Subsidiaries (other than the Local Support Companies) Related to the Seller Business (collectively, the “Dutch Assumed Liabilities”), in each case other than any Dutch Excluded Liabilities; provided, that
the Uni EATS Liabilities shall be transferred, assigned, conveyed and delivered in accordance with the procedures and timing set forth in Section 6.7(d). 

(b) Local Assumed Liabilities. Upon the terms and subject to the conditions set forth in this Agreement, and subject to the exclusions
contained in Section 1.5(b), one or more Purchaser Group Companies is/are assuming, concurrently with the execution and delivery of this Agreement, (i) all Liabilities Related to the Seller Business under the Local Assigned Contracts,
(ii) the Transferred Statutory Plans and all Liabilities Related to such Transferred Statutory Plans (other than, in each case, as they relate to any Excluded Employee), but solely to the extent that (A) such Liabilities are fully included
in the determination of Final Closing Net Working Capital Amount or, (B) to the extent such Liabilities are not required by the Accounting Methods to be included in the determination of Final Closing Net Working Capital Amount, the relating
applicable Transferred Statutory Plans are Disclosed in Section 4.16(b)(i) of the Seller Disclosure Letter and (iii) all other Liabilities of the Local Support Companies Related to the Seller Business (collectively, the “Local
Assumed Liabilities”), in each case other than any Local Excluded Liability; provided, that any Delayed Liabilities that are Local Assumed Liabilities shall be transferred, assigned, conveyed and delivered as soon as practicable
following the last and final Employee Services Expiration Date for the Seller Business Employees located in the Philippines or such earlier date as mutually agreed by the Parties but at the same time as the Delayed Assets. 

  
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 Section 1.5 Excluded Liabilities. 

(a) Dutch Excluded Liabilities. Notwithstanding any other provision of this Agreement or the Bills of Sale, no Purchaser Group Company
is assuming or shall assume or be bound by or obligated or responsible for any of the following : (i) any Liabilities with respect to any of the matters Disclosed in Exhibit 1.5(a)(i), (ii) any Liabilities arising from violations of
Applicable Law (whether known or unknown) by Seller or its Affiliates (for the avoidance of doubt, this Section 1.5(a)(ii) shall not limit any Liabilities of Purchaser expressly created by Section 9.2(h)), (iii) any Liabilities under
any Dutch Assigned Contract arising from violations of Applicable Law (whether known or unknown) by Seller or its Affiliates (for the avoidance of doubt, this Section 1.5(a)(iii) shall not limit any Liabilities of Purchaser expressly created by
Section 9.2(h)), (iv) any Transfer Taxes or share of any Transfer Taxes for which Seller is liable under Section 7.4, (v) any Taxes for, attributable to or arising in any Pre-Closing Tax Period,
(vi) any Liabilities arising out of a claim of fraudulent conveyance by a creditor of Seller or any of its Affiliates (or a claim under asset transfer claw-back provisions of Applicable Law), (vii) any Liabilities relating to the
employment or termination of employment of any employees, (viii) any Liabilities relating to any Seller Benefit Plans or any other employee benefit plans, programs, policies or arrangements, (ix) any Liability arising from any Dutch
Excluded Asset (including any Liability arising from any Intellectual Property or Business Data of Seller or any of its Affiliates (except with respect to any Seller Territory Data (and any Business Data that is Seller Territory Data that is
provided in accordance with this Agreement and the Transition Services Agreement), which is addressed in subsection (x) below) or any infringement, misappropriation or violation by Seller or any of its Affiliates of any Intellectual Property or
Business Data), (x) any Liability with respect to the Seller Territory Data and any Business Data that is Seller Territory Data to the extent such Liability results from any unauthorized use, access, transfer or other exploitation of Seller
Territory Data or any Business Data that is Seller Territory Data by an unauthorized third party or violation of Applicable Law and (xi) any Liabilities relating to the Lion City Transaction, any Liabilities arising under or relating to the
Lion City Agreements, any Liabilities of any Affiliate of Seller Parent vis-à-vis Lion City Rentals and, for the avoidance of doubt, any Liabilities of Lion City
Rentals (for the avoidance of doubt, this Section 1.5(a)(xi) shall not limit any Liabilities of Purchaser expressly created by Section 6.1, Exhibit 6.1(a)(iii)(B), Section 6.4(b) or Exhibit 6.4(b)) (collectively, the
“Dutch Excluded Liabilities”). 

  
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 (b) Local Excluded Liabilities. Notwithstanding any other provision of this Agreement
or the Bills of Sale, none of Purchaser or any Purchaser Group Company is assuming or shall assume or be bound by or obligated or responsible for any of the following : (i) any Liabilities with respect to any of the matters Disclosed in Exhibit
1.5(b)(i), (ii) any Liabilities arising from violations of Applicable Law (whether known or unknown) by Seller or its Affiliates (for the avoidance of doubt, this Section 1.5(b)(ii) shall not limit any Liabilities of Purchaser
expressly created by Section 9.2(h)), (iii) any Liabilities under any Local Assigned Contract arising from violations of Applicable Law (whether known or unknown) by Seller or its Affiliates, (iv) any Transfer Taxes and Transfer and
Liquidation Costs or share of any Transfer Taxes and Transfer and Liquidation Costs for which Seller is liable under Section 7.4, (v) any Taxes for, attributable to or arising in any Pre-Closing Tax
Period, (vi) any Liabilities arising out of a claim of fraudulent conveyance by a creditor of Seller or any of its Affiliates (or a claim under asset transfer claw-back provisions of Applicable Law), (vii) any Liabilities relating to the
Excluded Employees, (viii) any Liabilities relating to the employment or engagement of, or termination of employment or engagement of, any Seller Business Employees prior to the Closing, including any Liabilities with respect to the 2017
Bonuses (to the extent not fully included in the determination of the Final Closing Net Working Capital Amount) (for the avoidance of doubt, this Section 1.5(b)(vii) shall not limit any Liabilities of Purchaser expressly created by
Section 6.6(c)), (ix) except as set forth in Section 2.2(b) and (c), any Liabilities relating to the Seller Benefit Plans (other than any Transferred Statutory Plans (other than as they relate to any Excluded Employee), but solely to the
extent that (A) such Liabilities are fully included in the determination of Final Closing Net Working Capital Amount or, (B) to the extent such Liabilities are not required by the Accounting Methods to be included in the determination of
Final Closing Net Working Capital Amount, the relating applicable Transferred Statutory Plans are Disclosed in Section 4.16(b)(i) of the Seller Disclosure Letter) (for the avoidance of doubt, this Section 1.5(b)(ix) shall not limit any
Liabilities of Purchaser expressly created by Section 6.6(c)), (x) any Liability arising from any Local Excluded Asset (including any Liability arising from any Intellectual Property or Business Data of Seller or any of its Affiliates
(except with respect to any Seller Territory Data (and any Business Data that is Seller Territory Data that is provided in accordance with this Agreement and the Transition Services Agreement), which is addressed in subsection (xi) below) or
any infringement, misappropriation or violation by Seller or any of its Affiliates of any Intellectual Property or Business Data), (xi) any Liability with respect to the Seller Territory Data and any Business Data that is Seller Territory Data
to the extent such Liability results from any unauthorized use, access, transfer or other exploitation of Seller Territory Data or any Business Data that is Seller Territory Data by an unauthorized third party or violation of Applicable Law,
(xii) any Liability of Viet Car Rental Company Limited, a Vietnamese company and (xiii) any Liabilities of any Local Support Company vis-à-vis Lion City
Rentals and, for the avoidance of doubt, any Liabilities of Lion City Rentals (collectively, the “Local Excluded Liabilities”). 

  
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 Section 1.6 Process for Assignment of Acquired Assets. 

(a) To the extent that any authorizations, approvals, consents, notices or waivers are required by any Governmental Authority or third party
with respect to the sale, assignment, sublease, transfer, conveyance or delivery to any Purchaser Group Company of any Acquired Asset that is not a Specified Local Asset (such Acquired Assets that require such authorizations, approvals, consents,
notices or waivers (other than the Specified Local Assets), including, for the avoidance of doubt, any Uni EATS Assets and any Delayed Assets, the “Other Assets”), or any claim or right or any benefit arising thereunder or resulting
therefrom, shall not have been obtained prior to the Closing, the Closing shall proceed without the sale, assignment, sublease, transfer, conveyance or delivery of such Other Asset (it being understood that obtaining or sending any authorizations,
approvals, consents, notices or waivers with respect to any such Other Assets shall be at Seller’s sole cost and expense). To the extent that any authorizations, approvals, consents, notices or waivers are required by any Governmental Authority
or third party with respect to the sale, assignment, sublease, transfer, conveyance or delivery to any Purchaser Group Company of any Local Acquired Asset that would not have been required in the event that the entire share capital of the applicable
Local Support Company were, directly or indirectly, transferred at the Closing to Purchaser (such Local Acquired Assets, the “Specified Local Assets” and, together with the Other Assets, the “Specified Assets”),
including any Local Assigned Contract or Seller Required Governmental Authorization that is a Specified Local Asset, or any claim or right or any benefit arising thereunder or resulting therefrom, shall not have been obtained prior to the Closing,
the Closing shall proceed without the sale, assignment, sublease, transfer, conveyance or delivery of such Specified Local Asset (it being understood that obtaining or sending any authorizations, approvals, consents, notices or waivers with respect
to such Specified Local Assets shall be at Purchaser’s sole cost and expense). 
 (b) With respect to any Acquired Asset that is not
sold, assigned, subleased, transferred, conveyed or delivered at Closing because any required authorizations, approvals, consents, notices or waivers have not been sent or obtained as of the Closing, then, (i) in the case of an Acquired Asset
other than a Seller Assigned Contract, until the date that is twenty-one (21) months after the Closing, or, (ii) in the case of a Seller Assigned Contract, until the expiration of the then-current
term (but not during any renewal period) of the applicable Seller Assigned Contract (the “Cooperation Period”), Seller shall, and shall cause its Affiliates to, use commercially reasonable efforts, (i) with the cooperation of
the Purchaser Group Companies, at Seller’s sole cost and expense in the case of Other Assets, to obtain or send any such authorizations, approvals, consents, notices or waivers, and (ii) at Purchaser’s sole cost and expense in the
case of Specified Local Assets, to assist Purchaser in its efforts to obtain or send any such authorizations, approvals, consents, notices or waivers. 

  
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 (c) To the extent a Specified Asset cannot be transferred to Purchaser within the
Cooperation Period, Purchaser will, after the expiration of the Cooperation Period, assist Seller and the applicable Local Support Company (at Purchaser’s sole cost and expense if such Specified Asset is a Specified Local Asset, and at
Seller’s sole cost and expense if such Specified Asset is an Other Asset) in winding down or fulfilling the performance of any such Specified Asset until such Specified Asset is terminated in full, and Seller shall, and shall cause its
Affiliates to, promptly remit to Purchaser, or, at the direction of Purchaser, to one or more Subsidiaries of Purchaser, any proceeds from such winding down of any such Specified Assets (net of any Taxes on such proceeds). Purchaser shall reimburse
Seller for all reasonable costs and expenses (including such Taxes that were not deducted or withheld from the payment of proceeds pursuant to the preceding sentence and would be Transfer and Liquidation Costs to be borne by Purchaser in accordance
with Section 7.6(b) if the Specified Local Assets had been transferred at the Closing, but no other Taxes) incurred by Seller or its Affiliates arising from the attempted assignment, winding down, fulfillment of performance or termination, as
the case may be, of any such Specified Assets that are Specified Local Assets, whether incurred during or following the Cooperation Period. 

(d) During the Cooperation Period, each of Seller and Purchaser shall, and shall cause their respective Subsidiaries to, cooperate with each
other in any mutually agreeable, reasonable and lawful arrangements designed to give the applicable Purchaser Group Company the full benefits and costs (to the extent such costs constitute Assumed Liabilities) of use of any Specified Asset, and the
Parties shall cooperate to calculate such benefits and costs, to the extent applicable, and make any required payments resulting from such calculation payable at that time, on or around the thirtieth
(30th) day after the Closing Date and on a quarterly basis thereafter, beginning on the last Business Day of the quarter ended June 30, 2018. Once authorization, approval, consent, notice or
waiver for the sale, assignment, sublease, transfer, conveyance or delivery of any Specified Asset not sold, assigned, subleased, transferred, conveyed or delivered at the Closing is sent or obtained, Seller shall or shall cause its relevant
Affiliates to, assign, transfer, convey and deliver in accordance with this Agreement such Specified Asset to the applicable Purchaser Group Company at no additional cost, free and clear of all Encumbrances (other than Permitted Encumbrances). To
the extent that any Specified Asset cannot be assigned, transferred, conveyed and delivered or the full benefits and costs (to the extent such costs constitute Assumed Liabilities) of use of any such asset cannot be provided to the applicable
Purchaser Group Company following the Closing, then Seller, the applicable Affiliate of Seller and the applicable Purchaser Group Company shall enter into such lawful arrangements (including subleasing, sublicensing or subcontracting) as will
provide to the applicable Purchaser Group Company the economic and operational equivalent, to the fullest extent permitted and reasonably practicable, of obtaining such authorization, approval, consent or waiver and the performance by the applicable
Purchaser Group Company of the obligations thereunder. Seller, the applicable Affiliate of Seller and their Affiliates shall hold in trust for and pay to the applicable Purchaser Group Company promptly upon receipt thereof, all income, proceeds and
other monies received by Seller or the applicable Affiliate of Seller (net of any Taxes and net of any operational costs, to the extent such operational costs constitute Assumed Liabilities) that would have been received by the applicable Purchaser
Group Company if such Specified Asset had been sold, assigned, subleased, transferred, conveyed or delivered to such Purchaser Group Company at Closing in accordance with Section 1.1 or Section 1.2, as the case may be. 

  
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 (e) On or as promptly as practicable following the Closing Date and in accordance with the
Transition Services Agreement, including the Data Attachment to Schedule 3 of the Transition Services Agreement, Seller shall (A) give (or cause to be given) notice of (i) the assignment and assumption of the Seller Assigned Contracts
that have been entered into with riders in connection with their use of transportation services and driver partners in connection with providing transportation services to riders (other than driver partners located in the Philippines and Vietnam as
set forth in clause (B) below), and (ii) the transfer of the applicable Seller Territory Data and the relating change of the data controller, to any riders, driver partners, eaters and/or delivery couriers that are party to Seller Assigned
Contracts so as to ensure that the Purchaser Group Companies shall have the right to make commercial use of the Seller Territory Data (subject, in the case of driver partners located in the Philippines and Vietnam, to the consent of such driver
partners as set forth in clause (B) below), and (B) use commercially reasonable efforts to obtain (or cause to be obtained) consent with respect to the transfer of the applicable Seller Territory Data and the relating change of the data
controller from any driver partners that are located in the Philippines and Vietnam that are party to Seller Assigned Contracts so as to ensure that the Purchaser Group Companies shall have the right to make commercial use of the Seller Territory
Data. On or as promptly as practicable following the consummation of the transfer, assignment, conveyance and delivery of the Uni EATS Assets pursuant to Section 6.7(d), but in no event later than five (5) Business Days following such
time, Seller shall give (or cause to be given) notice in accordance with the Transition Services Agreement, including the Data Attachment to Schedule 3 of the Transition Services Agreement, of the assignment and assumption of the Seller
Assigned Contracts that have been entered into with Restaurant Merchants in connection with the Uni EATS Assets. For the avoidance of doubt, Seller shall not deliver the applicable Seller Territory Data with respect to riders or eaters in the
Philippines or Vietnam at any time, and with respect to driver partners in the Philippines or Vietnam only after Seller has received consent to the transfer of the applicable Seller Territory Data from the applicable driver partners in accordance
with clause (B) above. 
 (f) During the Cooperation Period applicable to the Delayed Assets, Delayed Liabilities and those Seller
Leases that require the applicable Local Support Company to maintain insurance with respect to such Local Support Company under their terms, Seller shall maintain its current insurance policies with respect to such Delayed Assets, Delayed
Liabilities and Seller Leases, if applicable, and shall use commercially reasonable efforts in accordance with past practice to cause such insurance carriers to respond to any insurance claims with respect to such Delayed Assets, Delayed Liabilities
and Seller Leases. Any insurance proceeds shall be subject to the last sentence of Section 1.6(d). 
 Section 1.7 Further
Assurances. 
 (a) Subject to Section 1.6 (including with respect to the allocation of costs between Seller and Purchaser), in case
at any time after the Closing, any further action by a Party is reasonably necessary to carry out the purposes of the Transaction Documents, such Party shall, at its own expense, execute and deliver such documents and other papers and take such
further actions as may be reasonably required to carry into effect the intents and purposes of the Transaction Documents (including, without limitation, vesting, perfecting, confirming or continuing full right, title and interest in all of the
rights, title, and interest in any properties or assets then held by such Party, the conveyance, transfer or assignment of which was or is required by the covenants or other agreements of such Party contained in the Transaction Documents). 

  
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 (b) Subject to Section 1.6 (including with respect to the allocation of costs between
Seller and Purchaser), the Parties agree to reasonably cooperate to effect the transfer of the Specified Assets at, or as soon as reasonably practicable following, the Closing in accordance with this Agreement and the Transition Services Agreement.
The failure to deliver any such Specified Asset to Purchaser at the Closing shall not, in and of itself, constitute a breach of this Agreement by Seller (it being understood and agreed that, notwithstanding the foregoing, following the Closing,
Seller and Purchaser shall comply with their obligations under Section 1.6 and this Section 1.7 with respect to such Specified Asset). Except where expressly provided in Section 1.1, Section 1.2, Section 1.6 and this
Section 1.7 and in the Transition Services Agreement, legal title to the Acquired Assets and Assumed Liabilities will transfer on the Closing Date and electronic, physical or other delivery of such Acquired Assets will take place as soon as
practicable following the Closing Date. 
 Section 1.8 Shared Contracts. Seller and Purchaser shall, and shall cause their
respective Affiliates to, negotiate in good faith (which shall include, in the case of Seller, leveraging its existing relationship with the counterparties to the Shared Contracts) with the counterparties to any Shared Contract to amend, customize
or modify the material terms of any such Shared Contract in a manner reasonably acceptable to Purchaser, and in good faith seek mutually acceptable arrangements for purposes of making available at cost (without markup) to the Purchaser Group
Companies during the Cooperation Period the rights, liabilities and obligations under each Shared Contract (as so amended, customized or modified) solely to the extent it relates to the Territories (as mutually agreed in good faith by the Parties),
with the rights, liabilities and obligations so allocated to the Territories to be held or borne, as applicable, by Purchaser and the rights, liabilities and obligations so allocated outside the Territories to be held or borne, as applicable, by
Seller (provided, that such arrangements shall not result in a breach or violation of such Shared Contract by Seller and its Affiliates or Purchaser and its Affiliates, as the case may be; and provided, further, that such
arrangements shall comply with the principles of allocation of Acquired Assets, Excluded Assets, Assumed Liabilities and Excluded Liabilities between Seller and its Affiliates, on the one hand, and Purchaser and its Affiliates, on the other hand,
that is set forth in Section 1.1 through Section 1.5 (it being understood that no Purchaser Group Company would assume or be responsible for any Excluded Liability, and none of Seller or any of its respective Affiliates would assume or be
responsible for any Assumed Liability)) (such arrangements, the “Shared Contracts Arrangements” ). Seller and Purchaser shall each use their respective commercially reasonable efforts to so negotiate for such Shared Contracts
Arrangements to be entered into or consummated as soon as practicable after the Closing, but in any event (i) in respect of Shared Contracts that are set forth in Exhibit 10.1(D), prior to the date that is sixty (60) days after the
Closing Date and (ii) in respect of all other Shared Contracts, prior to the date that is one hundred twenty (120) days after the Closing Date (the “Shared Contracts Customization Period”). Such Shared Contracts
Arrangements may include entering into separate Contracts with the third party to such Shared Contract on terms mutually agreeable to Seller and Purchaser and/or a subcontracting, sublicensing or subleasing arrangement (including under the
Transition Services Agreement). To the extent that the Cooperation Period for any Shared Contract has expired, Section 1.6(c) shall apply mutatis mutandis to any costs or expenses incurred by Seller or its Affiliates arising from the
(attempted) assignment, winding down, fulfillment of performance or termination of such Shared Contract, as the case may be. To the extent no Shared Contracts Arrangement can be entered into with respect to any Shared Contract by the end of the
Shared Contracts Customization Period: 
 (a) because Purchaser does not accept the existing terms under the portion of any such Shared
Contract applicable to the Territories, then Seller shall, at Purchaser’s request, terminate the portion of such Shared Contract applicable to the Territories at the earliest time permissible under the terms of such Shared Contract, and
Purchaser shall, so long as Seller has used its commercially reasonable efforts to negotiate for such Shared Contracts Arrangements in accordance with this Section 1.8, bear 100% of any costs or expenses incurred by Seller or its Affiliates
arising from the (attempted) assignment, winding down, fulfillment of performance or termination of the portion of such Shared Contract applicable to the Territories, as the case may be, during the applicable termination notice period; 

  
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 (b) because the counterparty to such Shared Contract does not accept any proposed Shared
Contracts Arrangements under the existing terms of such Shared Contract, exercises a termination right or otherwise rejects any proposed Shared Contracts Arrangements, then Seller shall, at Purchaser’s request, terminate the portion of such
Shared Contract applicable to the Territories at the earliest time permissible under the terms of such Shared Contract, and, so long as each of Purchaser and Seller have used their respective commercially reasonable efforts to negotiate for such
Shared Contracts Arrangements in accordance with this Section 1.8, each of Seller and Purchaser shall bear 50% of any costs or expenses incurred by Seller or its Affiliates arising from the (attempted) assignment, winding down, fulfillment of
performance or termination of the portion of such Shared Contract applicable to the Territories, as the case may be, during the applicable termination notice period; or 

(c) because the terms of the applicable Shared Contract as of the Closing Date prevent the entering into or consummation of any Shared
Contracts Arrangement (it being understood and agreed that a notice or consent requirement of such counterparty or customary provision of similar effect shall not be construed in and of itself as preventing such entering into of any Shared Contracts
Arrangement), then Seller, so long as Purchaser has used its commercially reasonable efforts to negotiate for such Shared Contracts Arrangements in accordance with this Section 1.8, shall bear 100% of any costs or expenses incurred by Seller or
its Affiliates arising from the (attempted) assignment, winding down, fulfillment of performance or termination of the portion of such Shared Contract applicable to the Territories, as the case may be; 

provided, in case of clauses (a) and (b) solely in respect of BPO Agreements and other customer support agreements (as set forth in Exhibit
10.1(D)), that the portion of such applicable Shared Contract applicable to the Territories provides for customer support services (limited to calls and emails) supporting ride-hailing and/or food delivery operations; and provided,
further, that to the extent the portion of such applicable Shared Contract applicable to the Territories does not provide for customer support services (limited to calls and emails) supporting ride-hailing and/or food delivery operations,
Seller shall bear 100% of any costs or expenses incurred by Seller or its Affiliates arising from the (attempted) assignment, winding down, fulfillment of performance or termination of such portion of such Shared Contract applicable to the
Territories (or the portion thereof that does not relate to customer support services (limited to calls and emails) supporting ride-hailing and/or food delivery operations), as the case may be, during the applicable termination notice period. 

  
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 Section 1.9 Bills of Sale. Notwithstanding anything to the contrary herein or in
any other Transaction Document, in the event of any conflict between any of the terms or provisions of this Agreement (including, without limitation, the allocation between the Parties of liability for Transfer and Liquidation Costs and the
designation of the Party responsible for preparing Tax Returns and other documentation for any Taxes incurred in connection with the consummation of the LSE Assignment and the liquidation of the Local Support Companies, each as set forth in
Section 7.4(b)), on the one hand, and any of the terms or provisions of any Bill of Sale, on the other hand, this Agreement shall prevail and control, and the Parties shall take, and shall cause their Affiliates to take, all actions necessary
to give full effect to this Agreement (including, with respect to the Bills of Sale, Section 1.6 through Section 1.8 and all defined terms of this Agreement as if they were set forth at length in the respective Bill of Sale) and to
consummate the Transaction in accordance with the terms of this Agreement. 
 ARTICLE II 

ASSET CONSIDERATION; DELIVERY OF SECURITIES 

Section 2.1 Asset Consideration. The consideration to be delivered by Purchaser to Seller 2 under Section 2.3(a)
for the transfer, assignment, conveyance and delivery of the Dutch Acquired Assets to Purchaser shall be 412,751,081 validly issued, fully paid, non-assessable Series G preference shares, par value 0.000001
per share (the “Purchaser Series G Preference Shares”), of Purchaser, which is equal to (i) 27.5% multiplied by the share capital of Purchaser on a fully diluted basis (and for the avoidance of doubt, including any reserved but
unissued share capital under the Purchaser Share Incentive Plan and after giving effect to a 2% increase in the Purchaser Share Incentive Plan prior to the Closing and after giving effect to the issuance of the Asset Consideration) as of immediately
after the Closing (such aggregate number of shares, the “Asset Consideration”) having the rights, preference and privileges attaching to the Purchaser Series G Preference Shares in the Amended Purchaser Articles, minus (ii)
6,249,764 Purchaser Series G Preference Shares, which represents the number of Purchaser Series G Preference Shares equal to (A) the net number of Purchaser Ordinary Shares underlying the Purchaser Restricted Stock Units and Purchaser Share
Options that would have been issued by Purchaser to Seller Business Employees pursuant to Section 2.2(b) or Section 2.2(c) had the Employment Transfer Time for all Seller Business Employees occurred at the Closing, assuming for these
purposes that the assumption and conversion occurred at the Closing and that each Seller Business Employee became a Continuing Employee, such that each Seller Parent Restricted Stock Unit, Seller Parent Stock Option and Seller Parent Stock
Appreciation Right held by a Seller Business Employee that is outstanding and unvested as of immediately prior to the Closing was assumed and converted into a Purchaser Restricted Stock Unit or Purchaser Share Option in accordance with
Section 2.2(b) or Section 2.2(c), as applicable, at the Closing, divided by (B) the conversion ratio from Purchaser Series G Preference Shares to Purchaser Ordinary Shares applicable to such Purchaser Series G Preference Shares as of
the Closing, minus (iii) 1,990,013 Purchaser Series G Preference Shares, which represents the aggregate rounded number of Purchaser Series G Preference Shares exchanged for the Local Acquired Assets (including, for the avoidance of doubt, the
Delayed Assets, but excluding the number of Purchaser Series G Preference Shares determined under clause (v) of this first sentence of this Section 2.1) pursuant to Section 2.3(b), minus (iv) 3,791,795 Purchaser Series G
Preference Shares, which represents the number of Purchaser Series G Preference Shares corresponding to (A) the good faith estimated number of net Purchaser Ordinary Shares underlying any Purchaser Restricted Stock Units and Purchaser Share
Options that are part of the 2018 Equity Refresh Grants to be granted by Purchaser under Section 6.10(b), assuming for these purposes that each Seller Business Employee became a Continuing Employee on or prior to the date on which the 2018
Equity Refresh Grants will be granted, divided by (B) the conversion ratio from Purchaser Series G Preference Shares to Purchaser Ordinary Shares applicable to such Purchaser Series G Preference Shares as of the Closing, minus
(v) 922,586 Purchaser Series G Preference Shares, which represents the rounded number of Purchaser Series G Preference Shares determined by dividing (x) the principal amount of the Local Promissory Notes by (y) USD5.54191. The Parties
hereto agree that the sum of Purchaser Series G Preference Shares issued pursuant to Section 2.3, Section 2.4 and Section 6.10, together with the Purchaser Restricted Stock Units and Purchaser Share Options issued pursuant to
Section 2.2(b) or Section 2.2(c), shall represent no more than the Asset Consideration. 

  
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 Section 2.2 Treatment of Seller Share Awards. The Parties agree that
(i) the provisions of this Section 2.2 shall apply only to (A) the Seller Parent Share Awards held by a Continuing Employee that were outstanding immediately prior to the Closing and that remain outstanding as of immediately prior to
the Continuing Employee’s applicable Employment Transfer Time and (B) the Seller Parent Share Awards granted as part of the 2018 Equity Refresh Grants by Seller Parent to a Seller Business Employee on or around March 31, 2018 to the
extent such employee is still employed by Seller or one of its Subsidiaries at the grant date but later becomes a Continuing Employee, and (ii) Purchaser shall not be obligated to assume and convert any Seller Parent Share Awards under
Section 2.2(b) or Section 2.2(c) to the extent such award is amended or modified (it being understood and agreed that the granting of the 2018 Equity Refresh Grants shall not be considered an amendment or modification) in any respects by
Seller Parent or any of its Subsidiaries between the Closing and the Employment Transfer Time, or, in the case of the 2018 Equity Refresh Grants granted pursuant to Section 2.2(i)(B), between the date of grant and the Employment Transfer Time,
unless such amendment or modification was agreed to by Purchaser: 
 (a) Vested Seller Parent Share Awards. Each Seller Parent Share Award
held by a Continuing Employee that is outstanding and vested as of immediately prior to the Employment Transfer Time for such Continuing Employee, including but not limited to any outstanding and vested Seller Parent Stock Option, Seller Parent
Stock Appreciation Right and Seller Parent Restricted Stock Unit (collectively the “Vested Seller Parent Share Awards”), shall, following the Employment Transfer Time for such Continuing Employee, continue in full force and effect
as an outstanding award of Seller Parent and remain subject to all of its existing terms and conditions. For avoidance of doubt, the Transaction shall have no effect on such Vested Seller Parent Share Awards. 

  
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 (b) Unvested Seller Parent Restricted Stock Units. Each unvested Seller Parent Restricted
Stock Unit held by a Continuing Employee that is outstanding immediately prior to the Employment Transfer Time for such Continuing Employee shall, at the Employment Transfer Time for such Continuing Employee, cease to represent the right to receive
shares of common stock of Seller Parent and shall be assumed by Purchaser and converted into one restricted stock unit of Purchaser under the Purchaser Share Incentive Plan that will settle in such number of ordinary shares of Purchaser (the
“Purchaser Ordinary Shares”) equal to the RSU Exchange Ratio multiplied by the number of shares of Seller Parent Common Stock underlying such Seller Parent Restricted Stock Unit and rounded down to the nearest whole share (each, a
“Purchaser Restricted Stock Unit”), which Purchaser Restricted Stock Unit shall be subject to the terms set forth in the form of award agreement for the Purchaser Restricted Stock Units attached hereto as
Exhibit 6.6(a)(i) (with such modifications as required to comply with Applicable Law) and otherwise shall be subject to the terms and conditions of the Purchaser Share Incentive Plan. For purposes of Article II and
Section 4.2(c), a Seller Parent Restricted Stock Unit will be considered unvested only to the extent that the time-based condition has not been satisfied (i.e., if the time-based condition is satisfied, the Seller Parent Restricted Stock Unit
will be considered vested even though any performance-based condition, including an IPO or other liquidity-based condition, has not been satisfied). 

(c) Unvested Seller Parent Stock Options and Seller Parent Stock Appreciation Rights. Each unvested Seller Parent Stock Option or Seller Parent
Stock Appreciation Right held by a Continuing Employee that is outstanding immediately prior to the Employment Transfer Time for such Continuing Employee shall, at the Employment Transfer Time for such Continuing Employee, cease to represent the
right to purchase, or a right with respect to, as applicable, shares of common stock of Seller Parent and shall be assumed by Purchaser and converted into, at the sole discretion of Purchaser, either: 

(i) an option under the Purchaser Share Incentive Plan to acquire a number of Purchaser Ordinary Shares equal to the Share
Option Exchange Ratio multiplied by the number of shares of common stock of Seller Parent underlying such Seller Parent Stock Option or Seller Parent Stock Appreciation Right, as applicable, and rounded down to the nearest whole share (each, a
“Purchaser Share Option”), at an exercise price per Purchaser Ordinary Share equal to the quotient of the per share exercise price or base price, as applicable, for the shares of Seller Parent Common Stock subject to the Seller
Parent Stock Option or Seller Parent Stock Appreciation Right, as applicable, as of immediately prior to the Closing Date divided by the Share Option Exchange Ratio and rounded up to the nearest whole cent. For any holder of a Purchaser Share Option
subject to U.S. taxation, the exercise price per Purchaser Ordinary Share subject to any such Purchaser Share Option will be determined in a manner consistent with the requirements of Section 409A of the Code. Each Purchaser Share Option shall
be subject to the terms set forth in the form of the award agreement for the Purchaser Share Options attached hereto as Exhibit 6.6(a)(ii) (with such modifications as required to comply with Applicable Law) and otherwise
shall be subject to the terms and conditions of the Purchaser Share Incentive Plan; or 

  
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 (ii) Purchaser Restricted Stock Units under the Purchaser Share Incentive
Plan that will settle in such number of Purchaser Ordinary Shares equal to the Share Option/SAR To RSU Exchange Ratio multiplied by the number of shares of common stock of Seller Parent underlying such Seller Parent Stock Option or Seller Parent
Stock Appreciation Right, as applicable, and rounded down to the nearest whole share, which Purchaser Restricted Stock Unit shall be subject to the terms set forth in the form of the award agreement for the Restricted Stock Units attached hereto as
Exhibit 6.6(a)(i) (with such modifications as required to comply with Applicable Law) and otherwise shall be subject to the terms and conditions of the Purchaser Share Incentive Plan. 

(d) At or prior to the Employment Transfer Time for the applicable Continuing Employee, Purchaser shall take all actions necessary to
effectuate the provisions of Section 2.2. 
 (e) Seller shall use commercially reasonable efforts, which shall include ensuring that any
Seller Business Employee does not have to fund the payment of any tax imposed on Vested Seller Parent Share Awards as a result of the Transaction, to mitigate the effect, as a result of the Transaction, of the “deemed exercise” rules under
Applicable Law in Singapore or any other jurisdiction in which similar “deemed exercise” rules apply (the “Deemed Exercise Rules”) on the Seller Business Employees who hold outstanding Vested Seller Parent Share Awards,
which may include making tax loans available to affected Seller Business Employees. Purchaser shall use commercially reasonable efforts, which shall include ensuring that any Continuing Employee does not have to fund the payment of any tax imposed
on Purchaser Restricted Stock Units and Purchaser Share Options as a result of the Transaction, to mitigate the effect, as a result of the Transaction, of the Deemed Exercise Rules on the Continuing Employees who hold outstanding Purchaser
Restricted Stock Units and Purchaser Share Options, which may include requesting a ruling from Inland Revenue Authority of Singapore or similar applicable Governmental Authority to seek an exception from the Deemed Exercise Rules or making tax
loans, available to affected Continuing Employees. 
 Section 2.3 Issuance of Purchaser Series G Preference Shares. 

(a) At the Closing, Purchaser shall issue and deliver to Seller 2, free and clear of all Encumbrances (other than Encumbrances created by the
Shareholders Agreement, a proxy granted to Anthony Tan in connection therewith or applicable securities laws), that number of Purchaser Series G Preference Shares to be issued pursuant to the first sentence of Section 2.1. At the Closing or
promptly thereafter, Purchaser shall cause its register of members to be duly updated as of the Closing to reflect Seller 2 as the holder of the Purchaser Series G Preference Shares issued to Seller 2 as required hereunder, and shall cause its
registered office provider to deliver, as promptly as practicable after the Closing, a duly certified extract of the relevant page from the updated Purchaser register of members to Seller 2. As soon as practicable after the Closing Date (but in no
event prior to the assignment referred to in Section 2.3(c)), Purchaser shall issue and deliver to Seller 2, free and clear of all Encumbrances (other than Encumbrances created by the Shareholders Agreement, a proxy granted to Anthony Tan in
connection therewith or applicable securities laws), in exchange for the Local Promissory Notes which shall be transferred to Purchaser through Assignment Agreements in the form attached here as Exhibit 2.3(a), which Assignment Agreements
shall be signed by Seller 2 and the applicable Purchaser Group Company promptly upon notice by Seller that the assignment referred to in Section 2.3(c) has taken place, to Purchaser free and clear of any Encumbrances, that number of Purchaser
Series G Preference Shares determined pursuant to clause (v) of the first sentence of Section 2.1. 

  
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 (b) At the Closing, Purchaser shall issue and deliver to the Local Support Companies (other
than (A) PT Uber Indonesia Technology and Uber Vietnam Limited, to which PT Solusi Transportasi Indonesia and GrabTaxi Company Limited, respectively, shall issue promissory notes in a principal amount of USD3,447,957 and USD1,664,936,
respectively, which promissory notes are attached hereto as Exhibit 2.3(b)(i) (collectively, the “Local Promissory Notes”) and (B) the amount of Purchaser Series G Preference Shares allocated on Exhibit 2.3(b)(ii)
to the Delayed Assets), free and clear of all Encumbrances (other than Encumbrances created by the Shareholders Agreement, a proxy granted to Anthony Tan in connection therewith or applicable securities laws), that number of Purchaser Series G
Preference Shares set forth on Exhibit 2.3(b)(ii) to be issued in exchange for the Local Acquired Assets. Purchaser shall be entitled to rely on the allocation of Purchaser Series G Preference Shares, or the principal
amount of Local Promissory Notes, as the case may be, among the applicable Local Support Companies set forth on Exhibit 2.3(b)(i) or Exhibit 2.3(b)(ii), as the case may be, and delivery of Purchaser Series G
Preference Shares to the Local Support Companies in accordance therewith shall fully satisfy Purchaser’s obligations under this Section 2.3(b) and the Purchaser Group Companies’ obligations with respect to the issuance and delivery of
Purchaser Series G Preference Shares or Local Promissory Notes, as the case may be, under any Bill of Sale entered into with a Local Support Company. As promptly as practicable after the date that Purchaser delivers a duly certified extract of the
relevant page from the updated register of members of Purchaser to Seller 2 showing the registration of the applicable Purchaser Series G Preference Shares held by the applicable Local Support Company (but in any event within 80 (eighty) days after
such date), Seller shall cause the Local Support Companies to transfer, assign, convey and deliver to Seller 2, and Seller 2 shall accept, such Purchaser Series G Preference Shares. Promptly thereafter, Seller 2 shall provide Purchaser
with (i) evidence (reasonably satisfactory to Purchaser) that the Local Support Companies have transferred their Purchaser Series G Preference Shares to Seller 2 in compliance with the Shareholders Agreement and (ii) a new Investor Proxy
with respect to the entirety of the Purchaser Series G Preference Shares held by Seller 2, and promptly following receipt thereof, Purchaser shall cause its register of members to be duly updated as of the Closing to reflect Seller 2 as the
holder of the Purchaser Series G Preference Shares issued as required hereunder, and shall cause its registered office provider to deliver, as soon as practicable after the Closing, a duly certified extract of the relevant page from the updated
Purchaser register of members to Seller 2. Thereafter, Seller 2 shall not transfer, assign, convey and deliver any Purchaser Series G Preference Shares to any Local Support Company. As soon as practicable after the delivery of the
Delayed Assets and the Delayed Liabilities, Purchaser shall issue and deliver to Uber Systems, Inc., free and clear of all Encumbrances (other than Encumbrances created by the Shareholders Agreement, a proxy granted to Anthony Tan in connection
therewith or applicable securities laws), that number of Purchaser Series G Preference Shares set forth on Exhibit 2.3(b)(ii) allocated to the Delayed Assets. 

  
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 (c) As promptly as practicable after the consummation of the Closing (but in any event
within 80 (eighty) days after the Closing Date), Seller 1 shall cause PT Uber Indonesia Technology and Uber Vietnam Limited to transfer, assign, convey and deliver to Seller 2, free and clear of any Encumbrances, their respective Local
Promissory Note, and Seller 2 shall acquire and accept such Local Promissory Notes; provided, however, that Seller shall only be liable to Purchaser (including under Section 9.1(b)) with respect to Seller’s breach of its
covenants under Section 2.3(b) and this (c) for the failure of any Local Support Company to transfer the Purchaser Series G Preference Shares or a Local Promissory Note to Seller 2 within eighty (80) days to the extent that any
Purchaser Group Company is required to pay (or reimburse Seller under Section 7.4(b) for) additional Taxes arising directly and solely as a result of such delayed transfer. 

(d) The Parties acknowledge and agree that any Purchaser Series G Preference Shares to be issued or transferred to Seller 2 under
this Agreement shall be held by Neben, LLC, a Delaware limited liability company (“Neben”), in its capacity as the general partner (beherend vennoot) and in the name and for the risk and account of Seller 2. 

(e) Seller shall cause the Local Support Companies to comply with the applicable provisions of each of the Shareholders Agreement and Investor
Proxy as if they were parties to the Shareholders Agreement and the Investor Proxy for as long as any Local Support Companies hold any Purchaser Series G Preference Shares. 

Section 2.4 Additional Purchaser Series G Preference Shares. 

(a) In the event that any Purchaser Restricted Stock Units or Purchaser Share Options fail to vest as a result of the termination of the
employment of any Continuing Employee after the Employment Transfer Time for such Continuing Employee for any reason other than Cause (any such award, a “Canceled Purchaser Equity Award”), Purchaser will issue to Seller 2, on the
last date of every second (2nd) calendar month following the Closing Date, if applicable (but on the basis of the Canceled Purchaser Equity Awards as determined ten (10) days prior to such month-end), for
no additional consideration, a number of Purchaser Series G Preference Shares equal to the quotient of (i) the net number of Purchaser Ordinary Shares that would have been issuable upon vesting and exercise of any such Canceled Purchaser Equity
Award, divided by (ii) the conversion ratio from Purchaser Series G Preference Shares to Purchaser Ordinary Shares applicable to such Purchaser Series G Preference Shares as of the Closing. On or prior to the end of every second (2nd) calendar
month following the Closing Date, Purchaser shall provide to Seller 2 a written statement detailing the Canceled Purchaser Equity Awards that were forfeited in such period. 

  
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 (b) Within thirty (30) days following the last and final Employee Services Expiration
Date, Purchaser will issue to Seller 2, for no additional consideration, a number of Purchaser Series G Preference Shares equal to the amount (if any) by which (i) the number of Purchaser Series G Preference Shares determined at the Closing
under Section 2.1(ii) and Section 2.1(iv), exceeds (ii) the number of Purchaser Series G Preference Shares equal to (A) the net number of Purchaser Ordinary Shares underlying the Purchaser Restricted Stock Units and Purchaser
Share Options actually issued by Purchaser pursuant to Section 2.2(b) or Section 2.2(c) to the Continuing Employees after the Employment Transfer Times for all Continuing Employees, divided by (B) the conversion ratio from Purchaser
Series G Preference Shares to Purchaser Ordinary Shares applicable to such Purchaser Series G Preference Shares as of the Closing; provided, however, that Purchaser will not issue to Seller 2 any such shares in respect of the
Inactive Seller Business Employees unless and until such Inactive Seller Business Employees are no longer eligible to become Continuing Employees in accordance with Section 6.6(a). 

Section 2.5 Agreement of Fair Value. The Parties hereto respectively agree that the number and series of Purchaser Shares to be
issued or issuable pursuant to Section 2.3, Section 2.4 and Section 6.10, together with the Purchaser Restricted Stock Units and Purchaser Share Options issued pursuant to Section 2.2(b) or Section 2.2(c), represent the fair
value of the Acquired Assets minus the Assumed Liabilities for the purposes of Section 238(8) of the Cayman Companies Law. 
 ARTICLE
III 
 POST-CLOSING ADJUSTMENT 

Section 3.1 Net Working Capital and Cash Adjustments; Payment of Closing Estimates. For the avoidance of doubt, references in this
Section 3.1 to the Seller Transferred Business shall include the Uni EATS Assets, the Uni EATS Liabilities, the Delayed Assets and the Delayed Liabilities. 

(a) For purposes of this Agreement: 

(i) “Closing Net Working Capital Amount” means, as of the consummation of the Closing, the amount equal to
(i) the consolidated total current assets of the Seller Transferred Business, excluding as a current asset (x) cash and cash equivalents and outstanding Rider and Eater Receivables, in each case, to the extent reflected in the calculation
of the Closing Seller Transferred Business Net Cash Amount and (y) all Tax assets, minus (ii) the consolidated total current Liabilities of the Seller Transferred Business, excluding as a current Liability all (A) Indebtedness
and outstanding Driver, Courier and Restaurant Payables, in each case to the extent reflected in the calculation of the Closing Seller Transferred Business Net Cash Amount, (B) Tax Liabilities of the Seller Transferred Business and (C) 2017
Bonuses and 2018 Equity Refresh Grants. 

  
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 (ii) “Closing Purchaser Net Cash Amount” means, as of the
consummation of the Closing, the amount equal to (A) (x) the aggregate amount of all cash and cash equivalents (excluding any restricted cash, other than restricted cash relating to car purchase loans or business credit cards of any Purchaser
Group Company) to the extent reflected on the consolidated balance sheet of the Purchaser Group Companies (excluding any cash or cash equivalents of the Seller Transferred Business) minus (y) all Indebtedness of the Purchaser Group
Companies (excluding any Indebtedness of the Seller Transferred Business) plus (B) an amount equal to (x) the aggregate amount of all outstanding Rider and Eater Receivables and Driver Receivables reflected on the consolidated
balance sheet of the Purchaser Group Companies (excluding any Rider and Eater Receivables of the Seller Transferred Business) minus (y) the aggregate amount of all Driver, Courier and Restaurant Payables reflected on the consolidated
balance sheet of the Purchaser Group Companies (excluding any Driver, Courier and Restaurant Payables of the Seller Transferred Business). 

(iii) “Closing Seller Transferred Business Net Cash Amount” means, as of the consummation of the Closing, the
amount equal to (A) (i) the aggregate amount of all cash and cash equivalents (excluding any restricted cash) to the extent reflected on the consolidated balance sheet of the Seller Transferred Business minus (ii) all Indebtedness
of the Seller Transferred Business, minus (iii) all non-current liabilities (other than Tax Liabilities) reflected on the consolidated balance sheet of the Seller Transferred Business plus
(B) an amount equal to (x) the aggregate amount of all outstanding Rider and Eater Receivables reflected on the consolidated balance sheet of the Seller Transferred Business minus (y) the aggregate amount of all Driver, Courier
and Restaurant Payables reflected on the consolidated balance sheet of the Seller Transferred Business. 
 (iv)
“Final Closing Seller Adjustment Payment” means the amount determined by substituting, in the definition of “Closing Seller Adjustment Payment,” all references to the Estimated Closing Net Working Capital Amount by the
Final Closing Net Working Capital Amount and all references to the Estimated Closing Seller Transferred Business Net Cash Amount by the Final Closing Seller Transferred Business Net Cash Amount. 

(v) “Final Closing Purchaser Net Cash Payment” means the amount determined by substituting, in
the definition of “Closing Purchaser Net Cash Payment,” all references to the Estimated Closing Purchaser Net Cash Amount by the Final Closing Purchaser Net Cash Amount. 

(vi) “Net Working Capital Floor” means negative USD50,000,000. 

(vii) “Purchaser Net Cash Floor” means USD1,250,000,000. 

  
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 (b) (i) Attached as Exhibit 3.1(b)(i) is Seller’s good faith estimate, in
each case as of February 28, 2018, of (x) the Closing Net Working Capital Amount (the “Estimated Closing Net Working Capital Amount”) and (y) the Closing Seller Transferred Business Net Cash Amount (the
“Estimated Closing Seller Transferred Business Net Cash Amount”) and (ii) attached as Exhibit 3.1(b)(ii) is Purchaser’s good faith estimate of the Closing Purchaser Net Cash Amount (“Estimated Closing
Purchaser Net Cash Amount”), in case of each of clauses (i) and (ii) setting forth in reasonable detail the calculations by Seller or Purchaser, respectively, thereof and the computations used in connection therewith. Each of the
estimated amounts referred to in the preceding sentence shall be prepared and calculated by Seller or Purchaser, as the case may be, using the applicable Accounting Methods. 

(c) At the Closing: 

(i) if the Net Working Capital Floor is greater than the sum of the (x) Estimated Closing Net Working Capital Amount and
(y) the Estimated Closing Seller Transferred Business Net Cash Amount, Seller shall pay the absolute value of such excess to Purchaser (any such payment, the “Closing Seller Adjustment Payment”); and 

(ii) if the Purchaser Net Cash Floor is greater than the Estimated Closing Purchaser Net Cash Amount, Purchaser shall pay the
Seller Percentage of the absolute value of such excess to Seller 2 (any such payment, the “Closing Purchaser Net Cash Payment”); “Seller Percentage” means the quotient of (x) the Seller’s Ownership
Proportion divided by (y) one (1) minus the Seller’s Ownership Proportion (for purposes of this clause (y), Seller’s Ownership Proportion shall be expressed as a decimal and not as a percentage);
“Seller’s Ownership Proportion” means 27.5% minus the percentage that the Purchaser Series G Preference Shares determined pursuant to clauses (ii) and (iv) of the first sentence of
Section 2.1 represent in relation to the aggregate number of outstanding Purchaser Series G Preference Shares; 
 provided, that Purchaser and
Seller shall calculate the payments payable under clauses (i) and (ii) on a net basis, such that only one payment shall result from this Section 3.1(c), payable by Seller or Purchaser, as the case may be, by wire transfer of
immediately available funds to the bank account(s) of Purchaser or Seller 2, respectively, or any of their respective Subsidiaries as they may designate, which bank account(s) shall be provided on or prior to the Closing Date. 

(d) For the avoidance of doubt, (A) the Closing Seller Adjustment Payment will be zero if the sum of the (x) Estimated Closing Net
Working Capital Amount and (y) the Estimated Closing Seller Transferred Business Net Cash Amount is equal to or greater than the Net Working Capital Floor and (B) the Closing Purchaser Net Cash Payment will be zero if the Estimated Closing
Purchaser Net Cash Amount is equal to or greater than the Purchaser Net Cash Floor. 

  
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 (e) Within ninety (90) days after the Closing Date, Purchaser shall deliver to Seller
in writing a good faith calculation of the Closing Net Working Capital Amount, Closing Purchaser Net Cash Amount and Closing Seller Transferred Business Net Cash Amount (the “Purchaser Statement”). The Purchaser Statement will be
prepared and calculated by Purchaser using the applicable Accounting Methods. 
 Section 3.2 Examination and Review. Seller
shall have until the date that is forty-five (45) days following the delivery of the Purchaser Statement (the “Review Period”) to review the Purchaser Statement. During the Review Period, Purchaser and Seller shall each use, and
shall cause their Subsidiaries to use, commercially reasonable efforts to cooperate and provide information as reasonably requested by the other Party in connection with Seller’s review of Purchaser’s calculation of the Closing Net Working
Capital Amount, Closing Seller Transferred Business Net Cash Amount and Closing Purchaser Net Cash Amount, including reasonable access to the work papers and books and records relating to the preparation of the Purchaser Statement. On or prior to
the last day of the Review Period, Seller may deliver to Purchaser a written statement setting forth any disagreement with Purchaser’s calculation of the Closing Net Working Capital Amount, Closing Seller Transferred Business Net Cash Amount
and Closing Purchaser Net Cash Amount, and in each case in reasonable detail the amount and the nature of any disagreement so asserted (any such disagreement to be limited to whether such calculations of the Closing Net Working Capital Amount,
Closing Seller Transferred Business Net Cash Amount and Closing Purchaser Net Cash Amount are mathematically correct and/or have been prepared in accordance with this Article III and the definitions of Closing Net Working Capital Amount, Closing
Seller Transferred Business Net Cash Amount and Closing Purchaser Net Cash Amount) (each, a “Statement of Disagreement”); provided, however, that all amounts or line items as part of the calculation of the Closing Net
Working Capital Amount, Closing Seller Transferred Business Net Cash Amount or Closing Purchaser Net Cash Amount that are not objected to by Seller in the applicable Statement of Disagreement shall be final and binding on Seller and Purchaser. 

(b) If Seller fails to deliver a Statement of Disagreement before the expiration of the Review Period, the Closing Net Working Capital Amount,
Closing Seller Transferred Business Net Cash Amount and the Closing Purchaser Net Cash Amount shall be deemed to have been accepted by Seller. If Seller delivers a Statement of Disagreement before the expiration of the Review Period, Purchaser and
Seller shall negotiate in good faith to resolve such objections within thirty (30) days after the delivery of the Statement of Adjustment Item (the “Resolution Period”), and, if the same are so resolved within the
Resolution Period, the calculation of the Closing Net Working Capital Amount, Closing Seller Transferred Business Net Cash Amount and/or Closing Purchaser Net Cash Amount, with such changes as may have been agreed in writing by Purchaser and Seller
during the Resolution Period, shall be final and binding on Purchaser and Seller. 

  
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 (c) If Purchaser and Seller fail to reach an agreement with respect to all of the matters
set forth in a Statement of Disagreement before expiration of the Resolution Period, then any amounts remaining in dispute shall be submitted for resolution to KPMG or another mutually agreed major international accounting firm of independent
certified public accountants (which shall not be the independent auditor of Purchaser or Seller Parent, or have done significant work for Purchaser or Seller Parent in the three (3) years preceding the Closing Date) (the “Independent
Accountants”) and Purchaser and Seller shall each instruct the Independent Accountants to resolve, as promptly as practicable but in any event within thirty (30) days after such submission, the amounts remaining in dispute in
accordance with this Section 3.2(c). The Independent Accountants shall have exclusive jurisdiction over, and resorting to the Independent Accountants as provided in this Section 3.2(c) shall be the only recourse and remedy of, the Parties
against one another with respect to, those items and amounts that remain in dispute under this Section 3.2(c), and neither Seller nor Purchaser shall be entitled to seek recovery of any attorneys’ fees or other professional fees incurred
by such Party or its Affiliates in connection with any dispute governed by this Article III. The Independent Accountants shall not be permitted to propose their own calculations to resolve any disputed item, instead, the Independent Accountants must
select either the calculation of such item as proposed by Seller or Purchaser (i.e., baseball arbitration). In making such selection, the Independent Accountants (i) shall be bound by the provisions of this Article III and the definitions of
Closing Net Working Capital Amount, Closing Seller Transferred Business Net Cash Amount and/or Closing Purchaser Net Cash Amount and the definitions used therein, (ii) shall limit its review to the disputed items submitted to the Independent
Accountants for resolution (basing its determination solely on the statements submitted by Seller and Purchaser), and shall be instructed not to otherwise investigate matters independently and (iii) shall further limit its review solely to
whether the Purchaser Statement has been prepared in accordance with this Article III and the definitions of Closing Net Working Capital Amount, Closing Seller Transferred Business Net Cash Amount and/or Closing Purchaser Net Cash Amount and the
definitions used therein or contains any mathematical or clerical error. The fees and expenses of the Independent Accountants in connection with its resolution of any dispute between Purchaser and Seller under this Section 3.2(c) shall be borne
in their entirety by the Party whose disputed positions selected by the Independent Accountant represent in the aggregate less value than the disputed positions of the other Party selected by the Independent Accountant. For example, if there are
four disputed items submitted to the Independent Accountants and the Independent Accountants select Seller’s calculation for one of the four disputed items but the amount in dispute with respect to such disputed item exceeds the amount in
dispute with respect to the other three disputed items, Purchaser will bear one hundred percent (100%) of the fees and expenses of the Independent Accountants. Any determinations made by the Independent Accountants pursuant to this
Section 3.2(c) shall be final, non-appealable and binding on the Parties hereto and not subject to further review, absent manifest error or Fraud. Purchaser and Seller agree that judgment may be entered
upon the determination of the Independent Accountants in any court having jurisdiction over the Party against which such determination is to be enforced. 

(d) The Closing Net Working Capital Amount as finally determined pursuant to this Article III shall be deemed the “Final Closing Net
Working Capital Amount.” The Closing Purchaser Net Cash Amount as finally determined pursuant to this Article III shall be deemed the “Final Closing Purchaser Net Cash Amount.” The Closing Seller Transferred Business Net
Cash Amount as finally determined pursuant to this Article III shall be deemed the “Final Closing Seller Transferred Business Net Cash Amount.”

  
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 Section 3.3 Determination and Payment of Post-Closing Adjustment. Within
five (5) Business Days after the determination of the Final Closing Net Working Capital Amount, the Final Closing Purchaser Net Cash Amount and the Final Closing Seller Transferred Business Net Cash Amount, the payments described in
Section 3.1(c) shall be recalculated by reference to the Final Closing Net Working Capital Amount, the Final Closing Purchaser Net Cash Amount and the Final Closing Seller Transferred Business Net Cash Amount, and Purchaser or Seller, as the
case may be, shall pay Seller 2 or Purchaser, respectively, by wire transfer of immediately available funds to the bank account(s) provided pursuant to Section 3.1(c) the net amount reflecting the difference (including, if applicable, by
reimbursing any amounts paid at Closing pursuant to Section 3.1(c) that should not have been paid) between the net payment that would have been made pursuant to Section 3.1(c) based on the Final Closing Net Working Capital Amount, the
Final Closing Purchaser Net Cash Amount and the Final Closing Seller Transferred Business Net Cash Amount and the net payment actually made at the Closing pursuant to Section 3.1(c) based on the Estimated Net Working Capital Amount, the
Estimated Closing Seller Transferred Business Net Cash Amount and the Estimated Closing Purchaser Net Cash Amount. For the avoidance of doubt, after final calculations pursuant to this Article III, (A) the Final Closing Seller Adjustment
Payment will be zero if the sum of the (x) Final Closing Net Working Capital Amount and (y) the Final Closing Seller Transferred Business Net Cash Amount is equal to or greater than the Net Working Capital Floor and (B) the Final
Closing Purchaser Net Cash Payment will be zero if the Final Closing Purchaser Net Cash Amount is equal to or greater than the Purchaser Net Cash Floor. 

ARTICLE IV 

REPRESENTATIONS AND WARRANTIES OF SELLER 

Except as Disclosed in the section of the Seller Disclosure Letter that specifically relates to a particular section or subsection of this
Article IV or any other section or subsection of this Agreement to the extent that it is reasonably apparent on the face of the disclosure that such information is relevant to such other section or subsection, each Seller hereby represents and
warrants, jointly and severally, to Purchaser as of the Closing (except (i) to the extent a different date is specified in the applicable representation or warranty, in which case such representation or warranty is made as of such date, and
(ii) with respect to the Uni EATS Assets, Uni EATS Liabilities, Delayed Assets and Delayed Liabilities (including with respect to the transferability thereof), the representations or warranties in respect of which are made as of the date of
this Agreement and the date of the respective transfer, assignment, conveyance and delivery thereof) as follows: 

  
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 Section 4.1 Organization, Good Standing and Qualification. Each of the Local
Support Companies and the other Subsidiaries of Seller Related to the Seller Business is an entity duly organized or incorporated, validly existing and in good standing (or equivalent status in the relevant jurisdiction) under and by virtue of, the
Applicable Laws of the place of its incorporation or establishment. Each of Seller 1 and Seller 2 is duly established and validly existing as a limited partnership (commanditaire vennootschap) formed under the laws of The Netherlands which is
not a legal entity but a contractual arrangement between its partners. Neben is duly formed, validly existing and in good standing under the laws of Delaware, and the sole general partner (beherend vennoot) of each of Seller 1 and
Seller 2. Each of Uber B.V., a besloten vennootschap formed under the laws of The Netherlands and a wholly-owned Subsidiary of Seller 1, Uber Portier B.V., a besloten vennootschap formed under the laws of The Netherlands and
a wholly-owned Subsidiary of Seller 1, Rasier Operations B.V., a besloten vennootschap formed under the laws of The Netherlands and a wholly-owned Subsidiary of Seller 1, and Uber Motorbike B.V., a besloten vennootschap
formed under the laws of The Netherlands and a wholly-owned Subsidiary of Seller 1 (collectively, the “Dutch Bill of Sale Entities”), is a legal entity duly organized and validly existing under the laws of The Netherlands, and
in good standing in jurisdictions that recognize such status. Each of Seller, Neben, the Dutch Bill of Sale Entities and the Local Support Companies has the requisite corporate power and authority to own, operate and lease its respective Acquired
Assets and to carry on its respective portion of the Seller Business as it is now being conducted. Each of Seller, Neben, the Dutch Bill of Sale Entities and the Local Support Companies is in good standing (or equivalent status in the relevant
jurisdiction) as a foreign entity in each jurisdiction where the character of the Acquired Assets or the conduct, nature or operation of the Seller Business makes such qualification necessary, except where the failure to be in good standing would
not have a Business Material Adverse Effect. Seller has heretofore made available to Purchaser true, correct and complete copies of the (i) Organizational Documents for each of Seller, Neben and the Local Support Companies as in effect through
(and including) the Closing Date and (ii) Lion City Agreements. Each Local Support Company that is incorporated under the laws of Indonesia or Thailand is properly licensed for the foreign holding of its shares. 

Section 4.2 Capitalization and Voting Rights. 

(a) The partnership interests, or authorized and outstanding or issued share capital, registered capital or charter capital, of Seller and Lion
City Rentals, as the case may be, together with the partners, or legal and beneficial owner(s) of such interests and capital, respectively, is set forth in Section 4.2(a) of the Seller Disclosure Letter. Except as set forth on
Section 4.2(a) of the Seller Disclosure Letter, immediately prior to the Closing, Seller 1 is the direct or indirect beneficial and record owner of one hundred percent (100%) of the outstanding Equity Securities of the Dutch Bill of Sale
Entities, the Local Support Companies and Lion City Rentals. 
 (b) Except as set forth in Section 4.2(a) of the Seller Disclosure
Letter (i) there are no other authorized or outstanding or issued Equity Securities of Lion City Rentals; (ii) no Equity Securities of Lion City Rentals are subject to any preemptive rights, rights of first refusal or other rights to
purchase such Equity Securities or any other rights with respect to such Equity Securities; (iii) none of Seller 1 or Lion City Rentals is obligated to issue, sell or transfer any Equity Securities of Lion City Rentals; (iv) none of Seller
or its Affiliates is a party or subject to any Contract that affects or relates to the voting or giving of written consents with respect to, or the right to cause the redemption, or repurchase of, any Equity Security of Lion City Rentals;
(v) Lion City Rentals has not granted any registration rights or information rights to any other Person, nor is Lion City Rentals obliged to list any of its Equity Securities on any securities exchange; (vi) there is no phantom stock and
there are no voting or similar agreements entered into by Seller 1 or Lion City Rentals which relate to the share capital, registered capital or charter capital of Lion City Rentals; and (vii) Lion City Rentals has no outstanding bonds,
debentures, notes or other obligations the holders of which have the right to vote (or convertible into or exercisable for securities having the right to vote) with the shareholders of Lion City Rentals on any matter or any agreements to issue such
bonds, debentures, notes or other obligations. 

  
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 (c) The information Disclosed by email between Seller and Purchaser, dated March 25,
2018, 12:30 a.m. P.T., which information shall be anonymized for any Seller Business Employees for whom consent to share such data has not been obtained as required under Applicable Law as of such date and time (with the anonymized information of
such Seller Business Employees to be provided promptly after Seller obtains such consents), sets forth all vested and unvested Seller Parent Share Awards held by Seller Business Employees outstanding as of the Closing Date including: (i) the
name of the Seller Parent Share Award recipient and such recipient’s relationship with the applicable Local Support Company (e.g., employee, consultant, director or commissioner); (ii) the Seller Parent Share Incentive Plan under which such
Seller Parent Share Award was granted; (iii) the type of award; (iv) the number of shares of Seller Parent common stock subject to such Seller Parent Share Award; (v) the exercise, base or purchase price of such Seller Parent Share
Award, if applicable; (vi) the date on which such Seller Parent Share Award was granted; (vii) the vesting schedule and other vesting conditions (if any) of such Seller Parent Share Award; (viii) the date on which such Seller Parent
Share Award expires; and (ix) whether the exercisability or vesting, as applicable, of such Seller Parent Share Award will be accelerated in any way by the Transaction, and the extent of acceleration. Seller has made available to Purchaser
true, correct and complete copies of (x) the Seller Parent Share Incentive Plan pursuant to which Seller Parent has granted the Seller Parent Share Awards to Seller Business Employees that are currently outstanding, and (y) the form of
award agreement evidencing such Seller Parent Share Awards. Each Seller Parent Share Award was granted in accordance with all Applicable Laws and the terms of each Seller Parent Share Incentive Plan applicable thereto. 

(d) The Board of Directors of Seller Parent or a duly authorized committee thereof, as applicable, has adopted such resolutions and taken such
actions required to allow Purchaser to assume and convert each Seller Parent Share Award that is outstanding, unvested and unexercised, if applicable, effective as of the Employment Transfer Time for the applicable Continuing Employee, in
consideration for the issuance of Purchaser Restricted Stock Units or Purchaser Share Options, as applicable, as provided in Section 2.2, and taken such other actions required under the Seller Parent Share Awards to otherwise effectuate the
provisions of Section 2.2. 
 Section 4.3 Corporate Structure; Subsidiaries. Section 4.3 of the Seller Disclosure
Letter sets forth a structure chart showing each of Seller, Neben, Lion City Rentals and the Local Support Companies and indicating the ownership and Control relationships among them, or a description of such structure with such ownership and
Control relationships, the nature of the legal entity which each such Person constitutes, each jurisdiction in which each such Person was organized, and the jurisdiction in which each such Person is required to be qualified or licensed to do
business as a foreign Person. Other than as set forth on Section 4.3 of the Seller Disclosure Letter, none of Lion City Rentals or the Local Support Companies owns or Controls any interest or share in any other Person or is or was a participant
in any joint venture, partnership or similar arrangement. 

  
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 Section 4.4 Authorization. 

(a) Seller, the Dutch Bill of Sale Entities, and each Local Support Company have all requisite corporate power and authority to enter into,
execute, deliver and perform its obligations under each of the Transaction Documents to which it is or will be a party and to consummate the Transaction. All corporate actions on the part of each such Person necessary for the authorization,
execution and delivery of the Transaction Documents to which it is a party and the performance of all its obligations thereunder (including any board, partner or shareholder approval, as applicable) have been taken. 

(b) Each Transaction Document to which Seller, the Dutch Bill of Sale Entities and/or the Local Support Companies is or will be a party is, or
when executed by the parties thereto, will be, valid and legally binding obligations of such Person, as the case may be, enforceable against such Person in accordance with its terms, except (i) as limited by applicable bankruptcy, insolvency,
reorganization, moratorium, and other Applicable Laws now or hereafter in effect of general application affecting enforcement of creditors’ rights generally, and (ii) as limited by Applicable Laws relating to the availability of specific
performance, injunctive relief, or other equitable remedies. 
 Section 4.5 Consents; No Conflicts. Except for (i) such
authorizations, approvals, consents, notices or waivers as may be required with respect to assigning the Specified Assets and (ii) such other filings, notifications, notices, submissions, applications, or consents the failure of which to be
obtained or made would not have a Business Material Adverse Effect, all filings, notifications, notices, submissions, applications, or consents from or with any Governmental Authority or any other Person required in connection with the valid
execution, delivery and performance of the Transaction Documents to which Seller, the Dutch Bill of Sale Entities and/or any Local Support Company is a party, and the consummation of the transactions contemplated by such Transaction Documents, in
each case on the part of such Person, have been duly obtained or completed (as applicable) and are in full force and effect. The execution, delivery and performance of each Transaction Document to which Seller, the Dutch Bill of Sale Entities and/or
any of the Local Support Companies is a party by such Person does not, and the consummation by such Person of the transactions contemplated thereby will not (x) (assuming compliance with the matters referred to in clauses (i) and (ii) of
the immediately preceding sentence) result in any violation of, be in conflict with, or constitute a default under, require any consent under, or give any Person rights of termination, amendment, acceleration (including acceleration of any
obligation of Seller, the Dutch Bill of Sale Entities or any Local Support Company) or cancellation under, (A) any Governmental Order, (B) any provision of the Organizational Documents of Seller, the Dutch Bill of Sale Entities or any
Local Support Company, each as currently in effect, (C) any Applicable Law, or (D) any Dutch Assigned Contract or any Local Assigned Contract that is not a Specified Local Asset, or (y) result in the creation of any Encumbrance upon
any Acquired Asset other than Permitted Encumbrances, except, in the case of sub-clauses (A), (C), and (D) of clause (x) as would not have a Business Material Adverse Effect. 

  
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 Section 4.6 Compliance with Laws; Consents. Except as Disclosed in
Section 4.6 of the Seller Disclosure Letter: 
 (a) Except as would not have a Business Material Adverse Effect, (i) the Seller
Business is and has been conducted in compliance with all Applicable Law; (ii) no event has occurred and no circumstance exists that (with or without notice or lapse of time), (A) would reasonably be expected to constitute or result in a
violation by the Seller Business of, or a failure on the part of the Seller Business to comply with, any Applicable Law, or (B) would reasonably be expected to give rise to any obligation on the part of any such Person or any Purchaser Group
Company to undertake, or to bear all or any portion of the cost of, any remedial action initiated or brought by any Governmental Authority to the extent relating to the Seller Business; (iii) none of Seller or its Subsidiaries has received any
written notice from any Governmental Authority regarding any of the foregoing; and (iv) the Seller Business is not, to the Knowledge of Seller, under investigation with respect to a violation of any Applicable Law. To the Knowledge of Seller,
none of Seller or any of its Subsidiaries is or has been party to any agreement or practice which infringes Antitrust Laws to the extent relating to the Seller Business, or is or has been subject to any previous, current or pending investigation,
complaint, action or negative decision in relation to Antitrust Laws to the extent relating to the Seller Business. 
 (b) The Seller
Transferred Business has or holds all material franchises, approvals, permits, consents, qualifications, certifications, authorizations, licenses, orders, registrations, certificates, variances or other similar permits, rights and all pending
applications therefor from or with the relevant Governmental Authority required to operate the Seller Transferred Business, as currently conducted, in accordance with Applicable Law (collectively, the “Seller Required Governmental
Authorizations”), and all such Seller Required Governmental Authorizations are valid and in full force and effect. 
 (c) Except as
would not have a Business Material Adverse Effect, (i) no Seller Required Governmental Authorization contains any unduly burdensome restrictions or conditions, (ii) each Seller Required Governmental Authorization is in full force and
effect and, subject to Section 1.6, will remain in full force and effect upon the consummation of the Transaction, (iii) none of Seller or its Affiliates holding a Seller Required Governmental Authorization is in default under any such
Seller Required Governmental Authorization, and (iv) to the Knowledge of Seller, there is no Seller Required Governmental Authorization which is subject to periodic renewal that will not be granted or renewed, subject to Section 1.6. None
of Seller or its Subsidiaries (including the Local Support Companies) has received any letter or other written communication from, and, to the Knowledge of Seller, there has not been any public notice of a type customary as a form of notification of
such matters in the jurisdiction by, any Governmental Authority threatening or providing notice of (i) the revocation or suspension of any Seller Required Governmental Authorization issued to such Person or (ii) the need for compliance or
remedial actions in respect of the activities carried out by such Person with respect to the Seller Business, which revocation, suspension, compliance or remedial actions (or the failure of such Person to undertake them) would have a Business
Material Adverse Effect. 

  
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 (d) None of Seller, its Subsidiaries (including the Local Support Companies) or any of their
respective directors, commissioners, or officers and, to the Knowledge of Seller, any employees, agents or any other persons acting for or on behalf of any such Person has, to the extent relating to the Seller Business, (i) made any bribe,
influence payment, kickback, payoff, benefits or any other type of payment (whether tangible or intangible) that would be unlawful under any applicable anti-bribery or anticorruption (governmental or commercial) laws (including, for the avoidance of
doubt, any guiding, detailing or implementing regulations), including, without limitation, laws that prohibit the corrupt payment, offer, promise or authorization of the payment or transfer of anything of value (including gifts or entertainment),
directly or indirectly, to any Government Official or commercial entity to obtain a business advantage such as the Foreign Corrupt Practices Act of 1977, as amended or the U.K. Bribery Act 2010 (collectively, “Anticorruption Laws”);
(ii) in violation of any Anticorruption Law, offered, paid, promised to pay, or authorized any payment or transfer of anything of value, directly or indirectly, to any Person for the purpose of (A) influencing any act or decision of any
officer, cadre, civil servant, employee or any other person acting in an official capacity for any Governmental Authority (including any political party or official thereof), or to any candidate for political office (individually and collectively,
a “Government Official”) in his official capacity, (B) inducing a Government Official to do or omit to do any act in relation to his lawful duty, (C) securing any improper advantage, (D) inducing a Government
Official to influence or affect any act, decision or omission of any Governmental Authority, or (E) assisting Seller, any Local Support Company or any other Subsidiary of Seller Related to the Seller Business, or any agent or any other person
acting for or on behalf of the Seller Business or any such Person, in obtaining or retaining business for or with, or in directing business to, any Person; or (iii) accepted or received any contributions, payments, gifts, or expenditures that
would be unlawful under any Anticorruption Law. 
 (e) No Government Official serves as an officer, director, commissioner or employee of
Seller, any Local Support Company or any other Subsidiary of Seller Related to the Seller Business. 
 (f) None of Seller or any of its
Subsidiaries (including the Local Support Companies), or, to the Knowledge of Seller, any of their respective directors, commissioners or officers, has ever been found by a Governmental Authority to have violated any Anticorruption Law or any
securities Applicable Law or is subject to any indictment or any government investigation for bribery or otherwise with respect to any Anticorruption Laws to the extent relating to the Seller Business. 

(g) None of Seller, any Local Support Company or any other Subsidiary of Seller Related to the Seller Business, or, to the Knowledge of Seller,
their respective directors, commissioners, officers or employees, or any agent or any other person acting for or on behalf of any such Person, is a Prohibited Person, and, to the Knowledge of Seller, no Prohibited Person has been given an offer to
become an employee, officer, consultant, director or commissioner of any such Person. None of Seller or any of its Subsidiaries (including Local Support Companies) has knowingly conducted or agreed to conduct any business, or knowingly entered into
or agreed to enter into any transaction with a Prohibited Person to the extent relating to the Seller Business. 

  
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 Section 4.7 Tax Matters. 

(a) All material Tax Returns required to be filed by any Local Support Company have been filed within the requisite period (taking into account
any extensions) and all material Taxes Related to the Seller Business or with respect to the Seller Transferred Business have been or will be paid in a timely fashion or have been accrued for on the financial statements of the Seller or the
applicable Subsidiary (including a Local Support Company). 
 (b) Except as Disclosed in Section 4.7(b) of the Seller Disclosure Letter,
there is no outstanding audit dispute, claim, assessment or other proceeding with any Tax authority concerning any Tax Liability of, or imposed on, Seller or any Subsidiary (including any Local Support Company), in each case, Related to the Seller
Business or with respect to the Seller Transferred Business, and, to the Knowledge of Seller, no such audit dispute, claim, assessment or other proceeding has been threatened in writing by a Tax authority. 

(c) There are no Tax Encumbrances (other than Permitted Encumbrances) upon the Acquired Assets. 

(d) With respect to the Acquired Assets, neither Purchaser nor any of its Subsidiaries will be required to include any item of income in, or
exclude any item of deduction from, taxable income, or pay additional Taxes, for any taxable period (or portion therefor) ending after the Closing Date as a result of a final determination of a Tax authority imposing a liability for Taxes on income
arising from the Seller Business in any Pre-Closing Tax Period. 
 (e) Neither Seller, nor any of its
Affiliates, have entered into a binding obligation or undertook a pre-arranged plan, or otherwise intended, prior to the Closing, to sell, transfer, assign, exchange, donate, issue, redeem, enter into voting
trusts or other voting agreements in respect of, or otherwise dispose of Purchaser stock after the Closing (a “Prohibited Transfer”); provided, however, that Seller shall not be deemed to have violated this
representation if Seller or any of its Affiliates delivers an opinion of reputable counsel that is reasonably acceptable to the Purchaser stating that the Prohibited Transfer should not have caused the 351 Contributions to fail to be treated as an
exchange described in Section 351 of the Code; provided, further, however, that Purchaser acknowledges and agrees that certain Local Support Companies have or will, subject to Section 2.3(b), enter into an agreement
with Seller 2, prior to, at, or after the Closing, to sell the Purchaser Series G Preference Shares transferred in consideration for the Local Acquired Assets to Seller 2, and that such sale shall not be treated as a Prohibited Transfer, so long as
any such agreement or sale complies with the Shareholders Agreement and Section 2.3(b). 

  
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 Section 4.8 Financial Statements. Seller has delivered to Purchaser an unaudited
consolidated pro-forma balance sheet and profit and loss statement for the Seller Business as of and for the years ended on (i) December 31, 2016 and (ii) December 31, 2017 (the “Seller
Statement Date”) (collectively, the “Seller Financial Statements”; and the balance sheet delivered pursuant to clause (ii), the “Pro-Forma Balance Sheet”). The
Seller Financial Statements (a) have been prepared in accordance with the Seller’s and its Affiliates’ books and records Related to the Seller Business, (b) fairly present in all material respects on an unaudited pro-forma basis the financial condition and position of the Seller Business on a consolidated basis as of the dates indicated therein and on an unaudited pro-forma basis the
results of operations of the Seller Business on a consolidated basis for the periods indicated therein, and (c) were prepared in accordance with U.S. GAAP applied on a consistent basis throughout the periods involved. 

Section 4.9 Absence of Changes. 

(a) Since the Seller Statement Date, (a) Seller and its Subsidiaries (including the Local Support Companies) have, directly or indirectly
through their Subsidiaries, operated the Seller Business in the Ordinary Course and collected receivables and paid payables and similar obligations of the Seller Business in the Ordinary Course and (b) there has not been any Business Material
Adverse Effect. 
 (b) Since the Seller Statement Date, Seller and its Subsidiaries (including the Local Support Companies) have used
commercially reasonable efforts to (i) preserve intact their present business organizations and the present business organizations of their respective Subsidiaries to the extent Related to the Seller Business, (ii) keep available the
services of the Seller Business Employees and (iii) preserve their beneficial relationships and the beneficial relationships of their respective Subsidiaries to the extent Related to the Seller Business with suppliers, distributors, riders and
driver partners, Restaurant Merchants, and managers, licensors, licensees and others having business dealings with them, all with the goal of preserving unimpaired the goodwill and ongoing business of the Seller Business. 

(c) Since the Seller Statement Date, except as set forth in Section 4.9(c) of the Seller Disclosure Letter and except as Disclosed
pursuant to the Seller Material Contracts or fully included in the determination of Final Closing Net Working Capital Amount or the Final Closing Seller Transferred Business Net Cash Amount, none of Seller, any Local Support Company or any other
Subsidiary of Seller Related to the Seller Business, has, in each case to the extent Related to the Seller Transferred Business: 

(i) (A) incurred any Indebtedness, (B) issued any debt securities, (C) made any loans or advances, or granted
any security interest in any of its assets or (D) created any Encumbrance on any Acquired Asset in respect of any of the foregoing (other than Permitted Encumbrances), in each case to the extent that such obligation would be an Assumed
Liability; 
 (ii) with respect to any Seller Business Employee, adjusted aggregate compensation in a way that is different
than what is set forth on Section 4.16(h) of the Seller Disclosure Letter, other than non-material adjustments in the Ordinary Course and taking into account the Annual Raises, 2018 Bonus Opportunities,
and 2018 Equity Refresh Grants made in the course of Seller’s global annual ordinary course performance review cycle to be completed by March 31, 2018; 

  
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 (iii) sold, leased, transferred, or disposed of any property or assets that
on the Closing Date would have been Acquired Assets, or any portion thereof or interest therein, in any single transaction or series of related transactions, except for (A) transactions pursuant to Contracts entered into in the Ordinary Course,
(B) transactions that individually or in the aggregate do not exceed USD5,000,000 or (C) dispositions of obsolete, surplus or worn out assets that are no longer useful in the conduct of the Seller Business; 

(iv) proposed or adopted a plan of complete or partial liquidation or dissolution, consolidation, restructuring,
recapitalization or other reorganization; 
 (v) made any acquisition of, or investment in, a business, by purchase of stock,
securities or assets, merger or consolidation, or contributions to capital, or loans or advances, in any such case with a value or purchase price in excess of USD1,000,000 individually or in the aggregate; 

(vi) made, changed or revoked any material Tax election, entered into any closing agreement or settled or compromised any Tax
Contest, changed (or requested to any Tax authority to change) any accounting period or method of accounting for Tax purposes, consented to any extension or waiver of the limitations period applicable to any claim or assessment for material Taxes,
failed to pay any Taxes as they became due and payable, filed an amended income or other material Tax Return, or surrendered a right to claim a refund of, offset to or other reduction in material Taxes; in each case, that would reasonably be
expected to cause Purchaser or any of its Subsidiaries to be required to pay Taxes in any taxable period (or portion therefor) ending after the Closing Date on income arising from the Seller Business in any
Pre-Closing Tax Period; 
 (vii) other than the employees Disclosed in the email
between Seller and Purchaser, dated March 25, 2018, 12:30 a.m. P.T., which information shall be anonymized for such employees, (A) transferred, or proposed to transfer (directly or indirectly) any individual employed by a Local Support
Company to an Affiliate of Seller that is not a Local Support Company, or (B) solicited, induced, encouraged or attempted to solicit, induce or encourage (directly or indirectly) any Former Seller Business Employee or Seller Business Employee
to terminate his or her employment or engagement with any Local Support Company in order to become an employee, consultant, or other service provider to or for any other Person, other than, in each case of clauses (A) and (B), in respect of
Excluded Employees; 

  
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 (viii) settled any Action by any Governmental Authority or any other third
party in excess of USD1,000,000; 
 (ix) authorized or entered into any commitment for any capital expenditure in excess of
USD25,000,000 individually or in the aggregate that would be an Assumed Liability; or 
 (x) announced an intention, entered
into a formal or informal agreement or otherwise made a commitment to do any of the foregoing. 
 Section 4.10 Actions. Except
as would not have a Business Material Adverse Effect, (i) there is no Action pending or, to the Knowledge of Seller, threatened in writing against or affecting the Seller Business or any officers, directors or commissioners of any Local Support
Company in connection with such officer’s, director’s or commissioner’s respective relationship with such Person; (ii) there is no judgment or award unsatisfied against any Local Support Company or the Seller Business, nor is
there any Governmental Order in effect and binding on any of the foregoing; (iii) there is no Action pending by any Local Support Company against any third party or by Seller or any of its Affiliates against any third party relating to the
Seller Business; and (iv) to the Knowledge of Seller, no Governmental Authority has challenged or questioned in writing the legal right (a) of any Local Support Company to conduct its business as currently being conducted, or (b) of
Seller or any of its Affiliates to conduct the Seller Business as currently being conducted. 
 Section 4.11 Liabilities. The
Seller Transferred Business does not have any Liabilities (including, for the avoidance of doubt, any Assumed Liabilities immediately prior to the consummation of the Closing), except for Liabilities (i) set forth in the Seller Financial
Statements that have not been satisfied since the Seller Statement Date, (ii) that are current Liabilities incurred since the Seller Statement Date in the Ordinary Course, (iii) that are executory obligations under Seller Material
Contracts, Seller Assigned Contracts, or any Contract not required to be included in Section 4.12(a) of the Seller Disclosure Letter, (iv) set forth on Section 4.11 of the Seller Disclosure Letter, (v) arising under this
Agreement, (vi) of a type or nature expressly addressed in any of the other representations and warranties under this Article IV (whether or not any particular of such Liabilities would have been expressly included or excluded in the coverage
of such representation or warranty as a result of any thresholds, Knowledge, materiality, Business Material Adverse Effect, or other qualifiers contained therein) or (vii) which would not have a Business Material Adverse Effect. 

Section 4.12 Commitments. 

(a) Section 4.12(a) of the Seller Disclosure Letter contains a true, correct and complete list of all Seller Assigned Contracts of the
type described in the definition of “Seller Material Contracts” (such Contracts, the “Seller Material Assigned Contracts”) and none of Seller, any Local Support Company or any other Subsidiary of Seller Related to the
Seller Business, is a party to or bound by any Seller Material Assigned Contract that is not listed in Section 4.12(a) of the Seller Disclosure Letter. Seller has made available to Purchaser true, correct and complete copies of all Seller
Material Assigned Contracts, including any amendments thereto. 

  
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 (b) Except as would not have a Business Material Adverse Effect and subject to
Section 1.6: (i) Each Seller Assigned Contract is a valid and binding agreement of Seller or one of its Affiliates; the performance of which by Seller or its applicable Affiliate of each such Seller Assigned Contract does not violate any
Applicable Law or Governmental Order, and each such agreement is in full force and effect and enforceable against the parties thereto in accordance with its terms, except (A) as may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally, and (B) as may be limited by laws relating to the availability of specific performance, injunctive relief or other
remedies in the nature of equitable remedies; (ii) no Seller Assigned Contract has been terminated or cancelled by the other party thereto; (iii) Seller or its applicable Affiliate has duly performed all of its obligations under each
Seller Assigned Contract to which it is a party to the extent that such obligations to perform have accrued, and no breach or default, alleged breach or alleged default, or event which would (with the passage of time, notice or both) constitute a
breach or default thereunder by Seller or its applicable Affiliate or, to the Knowledge of Seller, any other party or obligor with respect thereto, has occurred (except for a breach or default of a type or nature expressly addressed in clause
(D) of the last sentence of Section 4.5); (iv) neither Seller or its applicable Affiliate that is party to a Seller Assigned Contract has, since the Seller Statement Date, given written notice that it intends to terminate a Seller
Assigned Contract, or that any other party thereto has breached, violated or defaulted or that there is any other material dispute under any Seller Assigned Contract; (v) neither Seller or its applicable Affiliate that is party to a Seller
Assigned Contract has, since the Seller Statement Date, received any written notice that it has breached, violated or defaulted or that there is any other material dispute under any such Seller Assigned Contract, or that any other party thereto
intends to terminate such Seller Assigned Contract; and (vi) neither Seller or its applicable Affiliate that is a party to a Seller Assigned Contract has waived any right under any such Seller Assigned Contract in a manner that would affect or
modify any term of such Seller Assigned Contract or would otherwise have an adverse effect on the Seller Transferred Business after Closing. 

Section 4.13 Title; Properties. 

(a) Immediately prior to the Closing, Seller, the Local Support Companies and the other Subsidiaries of Seller Related to the Seller Business
have good and valid title to all of the Acquired Assets (or a good and valid interest in Acquired Assets that are Seller Assigned Contracts), in each case whether tangible or intangible (including those reflected in the Seller Financial Statements,
together with all assets acquired since the Seller Statement Date, but excluding any tangible or intangible assets that have been disposed of since the Seller Statement Date in the Ordinary Course), and in each case free and clear of all
Encumbrances, other than Permitted Encumbrances. The Dutch Assignment, the LSE Assignment and the delivery by the Dutch Bill of Sale Entities and the Local Support Companies to the applicable Purchaser Group Company of the Bills of Sale and
other instruments of assignment, conveyance and transfer pursuant to this Agreement and the Transaction Documents, subject to Section 1.6, will transfer to Purchaser or, at the direction of Purchaser, to another Purchaser Group Company, good
and valid title to all of the Acquired Assets (or a good and valid interest in Acquired Assets that are Seller Assigned Contracts), free and clear of all Encumbrances other than Permitted Encumbrances. 

  
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 (b) None of Seller or any of its Subsidiaries (other than the Local Support Companies) owns
or has or had ever owned or had legal or equitable title in any real property insofar as it is Related to the Seller Business, and none of the Local Support Companies owns or has or had ever owned or had legal or equitable title in any real
property. For purposes of this Section 4.13(b), a lease or leasehold interest (including tenancies) pursuant to which (x) Seller or any Subsidiary of Seller Related to the Seller Business, hold any real property Related to the Seller
Business or (y) any Local Support Company holds any real property, in each case that is subject to a real property lease is referred to as a “Seller Lease,” and any Seller Lease involving rent payments in excess of USD500,000
on an annual basis is referred to as a “Seller Material Lease.” Section 4.13(b) of the Seller Disclosure Letter sets forth the parties to each Seller Material Lease and the address of the property demised under each such Seller
Material Lease and the term of each such Seller Material Lease. Except as would not have a Business Material Adverse Effect: (i) each Seller Lease is in compliance with Applicable Law and all Governmental Orders required under Applicable Law in
respect of any Seller Lease have been obtained, including with respect to the operation of property and conduct of business as now conducted by the applicable Person of Seller, any Local Support Company or any other Subsidiary of Seller Related to
the Seller Business, which is a party to such Seller Lease, (ii) none of Seller, any Local Support Company or any other Subsidiary of Seller Related to the Seller Business has sublet, assigned or hypothecated its interest or leasehold interest
under any Seller Lease, and (iii) the interest or leasehold interests under the Seller Leases are adequate for the conduct of the Seller Business as currently conducted. Except as would not have a Business Material Adverse Effect, with respect
to each Seller Lease: (w) such Seller Lease is legal, valid, binding, enforceable against the parties thereto, and in full force and effect in accordance with its terms, (x) to the Knowledge of Seller, there are no disputes with respect to
such Seller Lease, (y) neither the applicable Person of Seller, any of its Subsidiaries Related to the Seller Transferred Business or the Local Support Companies, nor, to the Knowledge of Seller, any other party to the Seller Lease is in breach
or default under such Seller Lease, and, to the Knowledge of Seller, no event has occurred or circumstance exists which, with the delivery of notice, the passage of time or both, would constitute such a breach or default, or permit the termination,
modification or acceleration of rent under such Seller Lease (except for a breach or default of a type or nature expressly addressed in clause (D) of the last sentence of Section 4.5) and (z) no security deposit or portion thereof
deposited with respect to such Seller Lease has been applied in respect of a breach or default under such Seller Lease which has not been redeposited in full. 

  
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 (c) Immediately after the Closing, subject to Section 1.6 and Section 1.7, the
Acquired Assets, together with the rights of the Purchaser Group Company under the Transition Services Agreement (and subject to the terms and conditions thereof), represent all the material assets (excluding any Excluded Assets) that are
(i) owned, used or held by Seller and its Affiliates for use primarily in the Seller Business and (ii) necessary for the conduct of the Seller Business immediately after the Closing in substantially the same manner as conducted as of and
immediately prior to the consummation of the Closing (assuming that the Parties comply with their obligations under Section 1.6 and Section 1.7 with respect to Specified Assets for which a required authorization, approval, notice, consent
or waiver has not been obtained or sent prior to Closing). All material tangible Acquired Assets are in good working condition and repair in the Ordinary Course, reasonable wear and tear excepted. As of the Closing, the Acquired Assets constitute
the entirety of the assets, properties, privileges, claims and rights of Seller and its Affiliates that are Related to the Seller Business (except for the Excluded Assets), and there are no assets, properties, privileges, claims or rights of any
Local Support Company or of Seller and its Affiliates that are Related to the Seller Business that are not Acquired Assets (other than Excluded Assets). 

Section 4.14 Interested Party Transactions. Except as set forth in Section 4.14 of the Seller Disclosure Letter and except
with respect to intercompany agreements that are Excluded Assets and Excluded Liabilities, since January 1, 2015, (i) no Seller Related Party has any Contract or understanding or transaction with, or is indebted to, the Seller Business or has
any interest in the Seller Business (other than Equity Securities of a company held by any of its partners, shareholders or members), nor is the Seller Business indebted (or committed to make loans or extend or guarantee credit) to any Seller
Related Party; (ii) no Seller Related Party has any material interest in any Person with which the Seller Business has a material business relationship (including any Person which purchases from or sells, licenses or furnishes to the Seller
Business any goods, Intellectual Property, Business Data or other property rights or services), or in any Contract that is necessary for the operation of the Seller Business or to which Seller, any Local Support Company or any other Subsidiary of
Seller Related to the Seller Business, is a party or, to the Knowledge of Seller, by which the Seller Business may be bound or affected, and no Seller Related Party (other than SoftBank and other than portfolio companies of any Seller Related Party
that is a third party investor of Seller Parent and is not a founder or a current or former employee or officer of Seller Parent) directly or indirectly competes with, or, to the Knowledge of Seller, has any material interest in any Person that
directly or indirectly competes with, the Seller Business in the Territories (other than ownership of less than one percent (1%) of the stock of publicly traded companies); (iii) no Seller Related Party that is an individual or a shareholder of
Seller Parent has received any payment or other benefit from Seller, any Local Support Company or any other Subsidiary of Seller Related to the Seller Business, (except for payments and benefits received in connection with such Person’s
employment in the Ordinary Course on an arm’s length basis); and (iv) no Seller Related Party has filed or, to the Knowledge of Seller, intends to file a cause of action or other claim or Action against Seller, any Local Support Company or
any other Subsidiary of Seller Related to the Seller Business; provided that, for the purposes of clause (ii) above, the definition of “Seller Related Party” shall be deemed to exclude the respective employees and
equityholders of Seller or its Affiliates except to the extent that Seller has Knowledge that such person has an interest. The arrangements required to be set forth in Section 4.14 of the Seller Disclosure Letter shall be collectively referred
to herein as the “Seller Related Party Transactions.” There are no Seller Related Party Transactions. 

  
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 Section 4.15 Intellectual Property Rights. 

(a) No Intellectual Property is owned by, or exclusively licensed to, the Seller Business. All the Seller Territory Data is owned by Uber B.V.,
free and clear of all Encumbrances other than Permitted Encumbrances. Except as set forth on Section 4.15(a) of the Seller Disclosure Letter, none of Uber B.V., Seller or any of Seller’s Subsidiaries (including any Local Support Company)
has, directly or indirectly, licensed, provided, sold, exchanged, disclosed or otherwise made available any of the Seller Territory Data (i) to any Competitor (as defined in the Shareholders Agreement), (ii) to any Person with the right to use
or make available same, directly or indirectly, for the benefit of any Competitor or (ii) in violation or breach of Applicable Laws or its contractual obligations in respect of the Seller Territory Data. 

(b) Except as would not have a Business Material Adverse Effect, to the Knowledge of Seller, none of Seller or any of Seller’s
Subsidiaries (including any Local Support Company) has violated, infringed or misappropriated any Intellectual Property or Business Data of any Person during the three (3) years prior to the Closing Date, nor has any such Person received in the
three (3) years prior to the Closing Date any written notice alleging any of the foregoing. To the Knowledge of Seller, and except as would not have a Business Material Adverse Effect, no Person is currently violating, any rights in, misusing,
or misappropriating any Seller Territory Data and, except as Disclosed in Section 4.15(b) of the Seller Disclosure Letter, none of Seller or any of its Subsidiaries (including any Local Support Company) has given any written notice to any other
Person in the three (3) years prior hereto alleging any of the foregoing. 
 (c) Section 4.15(c) of the Seller Disclosure Letter
sets forth a true, correct and complete list of, and Seller has provided to Purchaser true, correct and complete copies of, all Contracts that are Related to the Seller Business pursuant to which Seller, any Local Support Company or any other
Subsidiary of Seller Related to the Seller Business is authorized to use, exercise, or receive any benefit from any Business Data or any Intellectual Property of another Person (including of Seller) that is material to the operation of the Seller
Business (excluding COTS Licenses and Incidental Licenses). 

  
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 (d) Except as would not have a Business Material Adverse Effect, Uber B.V. has established,
with respect to and for the Seller Business, data privacy and data security policies that are in conformance with all Applicable Law. At all times when conducting the Seller Business, except as would not have a Business Material Adverse Effect, Uber
B.V. and its Affiliates, as applicable, have provided, with respect to and for the Seller Business, accurate notice of its and their data privacy and security policies on all of its and their consumer-facing websites (and through consumer-facing
mobile applications) and these notices have not contained any material omissions in violation of Applicable Law. Except as would not have a Business Material Adverse Effect, Uber B.V. and its Affiliates, as applicable, have complied with
(i) Applicable Law, (ii) all requirements of self-regulatory organizations, (iii) its and their published data privacy and data security policies, and (iv) any contractual obligations and consumer-facing statements made by Seller
or any of its Affiliates (including any such statements on its and their consumer-facing website and through consumer-facing mobile applications), in each instance above, relating to the use, collection, retention, storage, security, disclosure,
transfer, disposal, or other processing or dealing, in whole or in part, of the Seller Territory Data, including any PII (collectively, “Privacy Agreements”). Subject to Section 1.6(e), except as set forth on
Section 4.15(d) of the Seller Disclosure Letter, neither the Privacy Agreements nor any Applicable Law requires the delivery of any notice to or consent from any Person, or prohibit the unqualified transfer of Seller Territory Data, in
connection with the execution, delivery, performance or consummation of the Transaction; and the execution, delivery, performance or consummation of the Transaction will not result in a material breach or violation of any Privacy Agreements or any
Applicable Law related to data privacy as it pertains to Seller Territory Data. Except as set forth on Section 4.15(d) of the Seller Disclosure Letter, (a) there is no Action pending or, to the Knowledge of Seller, threatened in writing
against or affecting Seller or any of Seller’s Subsidiaries (including any Local Support Company) regarding, and (b) none of Seller or any of Seller’s Subsidiaries (including any Local Support Company) has received in the three
(3) years prior to the Closing Date any written complaint from any Person (including any Governmental Authority), and to the Knowledge of Seller, there has been no complaint made by any Person, including to or by any Governmental Authority
regarding, in each instance above, the Seller Territory Data or any collection, use, retention, storage, security, transfer, disposal, disclosure or other processing or dealing thereof by or for the Seller Business. 

(e) Except as would not have a Business Material Adverse Effect, the Seller Business has implemented and maintained reasonable and appropriate
disaster recovery and security plans, procedures and facilities and have taken other reasonable steps, in each case, consistent with industry practices of companies offering similar services, to safeguard the Seller Territory Data, any confidential
information, PII, and information technology systems utilized by Seller or any of Seller’s Subsidiaries (including any Local Support Company) in the operation of the Seller Business (the “Seller IT Systems”), from unauthorized
or illegal access and use. Except as would not have a Business Material Adverse Effect, and to the Knowledge of Seller, there has been no breach of security or unauthorized access by third parties to (i) the Seller IT Systems, (ii) any
confidential information, or (iii) any Seller Territory Data, including any PII collected, held, or otherwise managed by or on behalf of Seller or any of its Subsidiaries (including the Local Support Companies) with respect to the Seller
Business, in each instance above, except as set forth on Section 4.15(e) of the Seller Disclosure Letter. 
 (f) The Seller Territory
Data is reliable for its intended use (when used in the Seller Business), and accurate and complete in all material respects, and organized in accordance with Seller’s and its Affiliates’ standards for similar data. The Seller Territory
Data has not been corrupted, damaged, degraded, or destroyed in any material respect. Uber B.V. has implemented and maintain reasonable safeguards, plans and procedures and have taken other reasonable steps against any corruption, damage, loss,
degradation, destruction, misuse or unauthorized alteration of the Seller Territory Data. Neither Seller nor any of its Affiliates have included in the Seller Territory Data any harmful or malicious scripts, programs, procedures or other mechanisms
that, can be used to erase, damage, alter, deny access to, corrupt, impede the operation of, impair use of, gain unauthorized access to, adversely affect or otherwise harm the Seller Territory Data and to the Knowledge of Seller, the Seller
Territory Data does not contain any such scripts, programs, procedures or other mechanisms. 

  
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 (g) Except as would not have a Business Material Adverse Effect, the Seller Territory Data
is sufficient for the conduct of the Seller Business with respect to required data as conducted during the 12-months prior to the date of this Agreement. 

(h) Notwithstanding anything to the contrary in this Agreement, the representations and warranties contained in Section 4.4,
Section 4.5, Section 4.6 (except that Section 4.6 shall not apply with respect to the transfer of Seller Territory Data in accordance with Section 1.6(e)) and this Section 4.15 are the sole and exclusive representations and
warranties made by Seller with respect to the validity, enforcement, ownership, infringement, violation or misappropriation of, or compliance with Applicable Laws concerning, Intellectual Property and Business Data. 

Section 4.16 Labor and Employee Matters. 

(a) Except as Disclosed in Section 4.16(a) of the Seller Disclosure Letter or as would not have a Business Material Adverse Effect, in
each case solely to the extent it relates to the Seller Business Employees, (i) Seller and its Subsidiaries (including the Local Support Companies) have complied with all Applicable Law related to labor or employment, including without
limitation provisions thereof relating to wages and payrolls, working hours and resting hours, overtime, working conditions, benefits, recruitment, retrenchment, retirement, minimum employment and retirement ages, social welfare, equal opportunity,
discrimination, worker classification, occupational health and safety, statutory regular health check, wrongful discharge, layoffs or plant closings, immigration, employees provident fund, social security organization and collective bargaining,
trade union, employments agreements, compulsory employment insurance, internal labor rules, company regulations, labor discipline, foreign employees, public holiday and leaves, labor contracts, labor disputes, statutory labor or employment reporting
and filing obligations and contracting arrangements; (ii) there is no pending or, to the Knowledge of Seller, threatened Action relating to the violation of any Applicable Law by Seller or any of its Subsidiaries (including the Local Support
Companies) related to labor or employment, including without limitation any charge or complaint filed by any Seller Business Employees with any Governmental Authority or Seller or any of its Subsidiaries (including the Local Support Companies) and
(iii) Seller and its Subsidiaries (including the Local Support Companies) have properly classified for all purposes (including for Tax purposes and for purposes of determining eligibility to participate in any Seller Benefit Plan) Seller
Business Employees, and have properly withheld and paid all applicable Taxes and statutory contributions and made all required filings in connection with services provided by Seller Business Employees to Seller or any of its Subsidiaries (including
the Local Support Companies) in accordance with such classifications. 

  
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 (b) Section 4.16(b)(i) of the Seller Disclosure Letter contains a true, correct and
complete list of each Transferred Statutory Plan and indicates the jurisdiction applicable to each such Seller Benefit Plan. Each material Seller Benefit Plan has been Disclosed in folder 1.12 of the Seller Data Room or shall, with the
consent of Purchaser not to be unreasonably withheld, be Disclosed no later than thirty (30) days after Closing upon the mutual agreement of the Parties in good faith. Each Seller Benefit Plan has been operated and administered in accordance
with its terms, and is in compliance with all Applicable Law, and all contributions to, and payments for each such Seller Benefit Plan have been timely made, and, to the Knowledge of Seller, no event, transaction or condition has occurred or exists
that would result in any such Liability to Seller or any of its Subsidiaries (including the Local Support Companies) under such Seller Benefit Plan; (ii) there are no pending or, to the Knowledge of Seller, threatened Actions involving any
Seller Benefit Plan (except for routine claims for benefits payable in the normal operation of any Seller Benefit Plan), and to the Knowledge of Seller, no facts or circumstances exist that could give rise to any such Actions; (iii) no Seller
Benefit Plan is under investigation or audit by any Governmental Authority and, to the Knowledge of Seller, no such investigation or audit is contemplated or under consideration; and (iv) with respect to the Seller Business Employees, Seller
and its Subsidiaries (including the Local Support Companies) are in compliance with all Applicable Laws and Contracts relating to their provision of any form of Social Insurance, and have paid, or made provision for the payment of, all Social
Insurance contributions required under Applicable Law and Contracts. 
 (c) Neither Seller nor any of its Subsidiaries (including the Local
Support Companies), solely to the extent it relates to any Seller Business Employee, sponsor, maintain or contribute to, or have an obligation to contribute to, or have, within the six (6) years prior to the Closing Date, sponsored, maintained
or contributed to, or had an obligation to contribute to, or have any liability in respect of, any defined benefit pension plans, schemes or arrangements in any jurisdiction, including without limitation any plans, schemes or arrangements subject to
Section 412 or 430 of the Code or Title IV of ERISA, except for any such statutory plans, schemes or arrangements that Seller or any of its Subsidiaries (including the Local Support Companies) are required to make contributions to under
Applicable Law. 
 (d) No event has occurred and no condition exists with respect to any employee benefit plan, agreement or arrangement
currently or previously maintained or contributed to by any ERISA Affiliate of Seller or any of its Subsidiaries (including the Local Support Companies) that could reasonably be expected to subject any Acquired Asset, directly or indirectly, to a
material liability under Sections 412, 430 or 4980B of the Code or Title IV of ERISA. 
 (e) Except as set forth in any Transaction Document,
neither the execution of any of the Transaction Documents to which Seller or any of its Subsidiaries (including the Local Support Companies) is a party nor the consummation of the Transaction will (either alone or in combination with another
event) (i) result in any payment becoming due to any Seller Business Employees; (ii) increase the amount of compensation or any benefits otherwise payable under any of the Seller Benefit Plans to any Seller Business Employee; or
(iii) result in any acceleration of the time of payment, exercisability, funding or vesting of any such benefits. 

  
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 (f) Neither Seller nor any of its Subsidiaries (including the Local Support Companies) has
any obligation to gross up, indemnify or otherwise reimburse any Seller Business Employees for any Taxes, interest or penalties incurred pursuant to Section 409A or Section 4999 of the Code. The Transaction does not constitute a
“change of ownership or control” of Seller within the meaning of Section 280G of the Code. 
 (g) There is not any pending or,
to the Knowledge of Seller, threatened, strike, union organization activity, lockout, slowdown, picketing, or work stoppage or any unfair labor practice charge by any Seller Business Employees against Seller or any of its Subsidiaries (including the
Local Support Companies). Neither Seller nor any of its Subsidiaries (including the Local Support Companies) is party to, bound by or subject to (and none of their assets or properties is party to, bound by or subject to) any written or oral
Contract, commitment or arrangement with any labor union, labor organization, employee organization or works council with respect to any of the Seller Business Employees, and there are no, and within the last three (3) years prior to the
Closing Date there have been no, collective bargaining agreements, labor agreements, work rules or practices, or any other material labor-related agreements or arrangements to which Seller or any of its Subsidiaries (including the Local Support
Companies) is bound that pertain to any of the Seller Business Employees. 
 (h) The email between Seller and Purchaser, dated March 25,
2018, 12:30 a.m. P.T., which information shall be anonymized for any Seller Business Employees for whom consent to share such data has not been obtained as required under Applicable Law as of such date and time (with the anonymized information of
such Seller Business Employees to be provided promptly after Seller obtains such consents), contains a true, correct and complete list of each Seller Business Employee, including for each such individual his or her (i) name; (ii) employing
entity, (iii) principal location of employment; (iv) job title; (v) original hire date and service date (if different); (vi) 2017 base salary or wage rate, and 2018 base salary or wage rate after giving effect to any annual raises in
the course of Seller’s global annual ordinary course performance review cycle to be completed by March 31, 2018 (the “Annual Raises”); (vii) bonus paid for 2017, and bonus opportunity for 2018 after giving effect to any
changes to bonus opportunities in the course of Seller’s global annual ordinary course performance review cycle to be completed by March 31, 2018 (the “2018 Bonus Opportunity” ); (viii) status as probationary employee,
full-time or part-time employee, permanent employee or term employee, commissioner or director; (ix) leave status (including type of leave, duration of leave, and expected return date), (x) whether such Person is employed under a work visa or
other work permit and (xi) whether such Person was promoted in 2018 (collectively, the “Seller Business Employee Census” ). No Seller Business Employee is employed or engaged in the United States. 

(i) Other than any Former Seller Business Employees and other than any employees Disclosed pursuant to Section 4.9(c)(vii) of the Seller
Disclosure Letter, the Seller Business Employees and the Excluded Employees are all of the employees of the Local Support Companies that were Related to the Seller Business for the period of thirty (30) days prior to the Closing. 

  
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 Section 4.17 Insurance Matters. The Seller Business maintains insurance policies
that are with reputable insurance carriers and provide coverage against such risks and in such amounts and with such deductibles as are customary for businesses of that size in the Territories in businesses generally comparable to the Seller
Business. Except as would not have a Business Material Adverse Effect: (i) all such policies and all self-insurance programs and arrangements are in full force and effect, no written notice of cancellation or modification has been received,
and, to the Knowledge of Seller, there is no existing default or event which, with the giving of notice or lapse of time or both, would constitute a default, by any insured thereunder; and (ii) to the Knowledge of Seller, none of Seller or any
of its Subsidiaries (including the Local Support Companies) has received any written notice of any threatened termination of, premium increase with respect to, or alteration of coverage under, any of such insurance policies or has been formally
denied any insurance coverage which it has sought or for which it has applied.    The Acquired Assets will not include any insurance policies. 

Section 4.18 Brokers. No broker, finder or investment banker is entitled to any brokerage, finder’s or other fee or
commission or expense reimbursement in connection with the Transaction based upon arrangements made by and on behalf of Seller or any of its Affiliates. 

Section 4.19 Securities Laws. Seller 2 and each Local Support Company is acquiring the Purchaser Series G Preference Shares
issuable to it under Section 2.3 for its own account and has no present intention of distributing or selling such Purchaser Series G Preference Shares or any shares issuable upon conversion thereof, except in accordance with the terms and
conditions of the Transaction Documents and in compliance with requirements of Applicable Law and/or any Governmental Authorities. 

Section 4.20 No Additional Representations or Warranties. Except for the representations, warranties and undertakings made
by Seller as expressly set forth in this Article IV, or as expressly made by Seller or any of its Affiliates in any other Transaction Document, neither Seller nor any of its Representatives or Affiliates, or any other Person acting on their behalf,
makes any other express or implied, statutory or otherwise, representation, warranty or undertaking of any kind or nature in connection with the Transaction. Neither Seller nor any of its Representatives or Affiliates, or any other Person acting on
their behalf, makes any express or implied, statutory or otherwise, warranty or undertaking with respect to any projections, estimates or budgets provided to Purchaser or its Representatives or Affiliates (howsoever and whensoever provided) of
future revenues, future results of operations (or any component thereof), future cash flows or future financial condition (or any component thereof) of Seller and any of its Affiliates or the future business and operations of Seller and its
Affiliates, except to the extent expressly set forth in this Article IV. Purchaser acknowledges that the representations and warranties in this Article IV are the result of arms’ length negotiations between sophisticated parties. None of
Purchaser or its Representatives or Affiliates has relied on and is not relying on any representations or warranties regarding Seller, its Affiliates or their respective businesses (including the Seller Business), including such representations or
warranties made by or on behalf of Seller before the signature of this Agreement, including during the course of negotiating this Agreement, other than those representations and warranties expressly set forth in this Article IV or as expressly made
by Seller or any of its Affiliates in any Transaction Document. 

  
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 Section 4.21 Separate and Independent Representations and Warranties. Each of
the representations and warranties in this Article IV shall be construed as a separate and independent representation or warranty and except where this Agreement expressly provides otherwise, is not limited by the other provisions of this Agreement,
including the other representations or warranties. 
 ARTICLE V 

REPRESENTATIONS AND WARRANTIES OF PURCHASER 

Except as Disclosed in the section of the Purchaser Disclosure Letter that specifically relates to a particular section or subsection of this
Article V or any other section or subsection of this Agreement to the extent that it is reasonably apparent on the face of the disclosure that such information is relevant to such other section or subsection, Purchaser hereby represents and warrants
to Seller as of the Closing (except to the extent a different date is specified in the applicable representation and warranty) as follows: 

Section 5.1 Organization, Good Standing and Qualification. Each of the Purchaser Group Companies is an entity duly organized or
incorporated, validly existing and in good standing (or equivalent status in the relevant jurisdiction) under, and by virtue of, the Applicable Laws of the place of its incorporation or establishment and has the requisite corporate power and
authority to own, operate and lease its properties and assets and to carry on its business as now conducted. Each of the Purchaser Group Companies is in good standing (or equivalent status in the relevant jurisdiction) as a foreign entity in each
jurisdiction where the character of the properties owned, leased or operated by it or the conduct, nature or operation of its business makes such qualification necessary, except where the failure to be in good standing would not have a Purchaser
Material Adverse Effect. Purchaser has heretofore made available to Seller true, correct and complete copies of the Organizational Documents for each of the Purchaser Group Companies as in effect through (and including) the Closing Date. Each of the
Purchaser Group Companies is and has been in compliance with its Organizational Documents, and none of the Purchaser Group Companies has violated or breached any of their respective Organizational Documents. Each Purchaser Group Company that is
incorporated under the laws of Indonesia or Thailand is properly licensed for the foreign holding of its shares. 

  
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 Section 5.2 Capitalization and Voting Rights. 

(a) Purchaser and Subsidiaries. The authorized and outstanding or issued share capital, registered capital or charter capital of
Purchaser and each Subsidiary of Purchaser is set forth in Section 5.2(a) of the Purchaser Disclosure Letter and Section 5.3 of the Purchaser Disclosure Letter, respectively. Section 5.2(a) of the Purchaser Disclosure Letter sets
forth the following with respect to the share capital of Purchaser (on an aggregate, and not holder-by-holder, basis, other than with respect to clauses (vi) and
(vii)), which share capital, including with respect to subsection (v) below, is, except as set forth in Section 5.2(a) of the Purchaser Disclosure Letter, identical to the share capital of Old Sake Parent immediately prior to the Purchaser
Restructuring: (i) outstanding ordinary shares, by class or series; (ii) outstanding preference shares, by class or series, including current conversion ratio into ordinary shares; (iii) warrants and other share purchase rights, if
any; (iv) outstanding share options, restricted share units and other equity incentive awards; (v) reserved but unissued ordinary shares under the Purchaser Share Incentive Plan; (vi) total share capital held by DiDi and its
Affiliates, including outstanding common stock, preferred stock, by series, warrants and other stock purchase rights, restricted common stock and stock options; and (vii) total share capital held by SoftBank and its Affiliates, including
outstanding common stock, preferred stock, by series, warrants and other stock purchase rights, restricted common stock and stock options. The issue price with respect to Series G preference shares of Old Sake Parent was, immediately prior to the
Purchaser Restructuring, and has been, since the first issuance of Series G preference shares of Old Sake Parent, USD5.54191. 
 (b) No
Other Securities. Except as set forth in Section 5.2(a) or Section 5.2(b) of the Purchaser Disclosure Letter, (i) there are no other authorized or outstanding or issued Equity Securities of Purchaser or any of its Subsidiaries;
(ii) no Equity Securities of Purchaser or any of its Subsidiaries are subject to any preemptive rights, rights of first refusal or other rights to purchase such Equity Securities or any other rights with respect to such Equity Securities,
(iii) neither Purchaser nor any of its Subsidiaries is obligated to issue, sell or transfer any Equity Securities of Purchaser or any of its Subsidiaries; (iv) neither Purchaser nor any of its Subsidiaries is a party or subject to any
Contract that affects or relates to the voting or giving of written consents with respect to, or the right to cause the redemption, or repurchase of, any Equity Security of Purchaser or such Subsidiary; (v) neither Purchaser nor any of its
Subsidiaries has granted any registration rights or information rights to any other Person, nor is Purchaser or any of its Subsidiaries obliged to list any of the Equity Securities of Purchaser or any of its Subsidiaries on any securities exchange;
(vi) there are no phantom shares and there are no voting or similar agreements entered into by Purchaser or any of its Subsidiaries which relate to the share capital, registered capital or charter capital of Purchaser or any of its
Subsidiaries; and (vii) none of Purchaser or any of its Subsidiaries has outstanding any bonds, debentures, notes or other obligations the holders of which have the right to vote (or convertible into or exercisable for securities having the
right to vote) with the shareholders of Purchaser or any of its Subsidiaries on any matter or any agreements to issue such bonds, debentures, notes or other obligations. 

(c) Issuance and Status. All Equity Securities of each Purchaser Group Company were duly and validly authorized and issued (or
subscribed for) in compliance with all Applicable Law, and are fully paid and nonassessable. All dividends (if any) or distributions (if any) declared, made or paid by each Purchaser Group Company, and all repurchases and redemptions of Equity
Securities of each Purchaser Group Company (if any), have been declared, made, paid, repurchased or redeemed, as applicable, in accordance with its Organizational Documents and all Applicable Law. 

  
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 (d) The Board of Directors of Purchaser or a duly authorized committee thereof, as
applicable, has adopted such resolutions and taken such actions required to allow Purchaser to assume and convert each Seller Parent Share Award that is outstanding, unvested and unexercised, if applicable, effective as of the Employment Transfer
Time for the applicable Continuing Employee, in consideration for the issuance of Purchaser Restricted Stock Units or Purchaser Share Options, as applicable, as provided in Section 2.2, and taken such other actions required to otherwise
effectuate the provisions of Section 2.2. 
 (e) Except as set forth in Section 5.2(e) of the Purchaser Disclosure Letter,
Purchaser has no Contracts with any third party to issue any Equity Securities pursuant to which such third party is committed to subscribe for or otherwise purchase such Equity Securities after the Closing (it being understood and agreed that, for
the avoidance of doubt, the conversion of preference shares of Purchaser (“Purchaser Preference Shares” ) into Purchaser Ordinary Shares in accordance with the Purchaser Amended Articles or the exercise of options in accordance with
the Purchaser Share Incentive Plan shall not constitute a subscription or purchase of Equity Securities). 
 Section 5.3 Corporate
Structure; Subsidiaries. Section 5.3 of the Purchaser Disclosure Letter sets forth (subject to any changes resulting from the consummation of the Purchaser Restructuring) a structure chart showing each Purchaser Group Company as of
immediately prior to the Closing and indicating the ownership and Control relationships among each Purchaser Group Company as of immediately prior to the Closing, or a description of such structure with such ownership and Control relationships, the
nature of the legal entity which each Purchaser Group Company constitutes, the jurisdiction in which each Purchaser Group Company was organized, and each jurisdiction in which each Purchaser Group Company is required to be qualified or licensed to
do business as a foreign Person. Other than as set forth on Section 5.3 of the Purchaser Disclosure Letter, no Purchaser Group Company owns or Controls any interest or share in any other Person or is or was a participant in any joint venture,
partnership or similar arrangement (subject to any changes resulting from the consummation of the Purchaser Restructuring). No Purchaser Group Company is obligated to make any investment in or capital contribution in or on behalf of any other
Person. 
 Section 5.4 Authorization. Each Purchaser Group Company has all requisite corporate power and authority to enter
into, execute, deliver and perform its obligations under each of the Transaction Documents to which it is or will be a party and to consummate the Transaction. All corporate actions on the part of each Purchaser Group Company necessary for the
authorization, execution and delivery of the Transaction Documents to which it is a party and the performance of all its obligations thereunder (including any board, partner or shareholder approval, as applicable), and, in the case of Purchaser, the
authorization, issuance (or reservation for issuance), sale and delivery of the Purchaser Series G Preference Shares issuable pursuant to Article II and the Purchaser Conversion Shares, has been taken. Each Transaction Document to which any
Purchaser Group Company is or will be a party is, or when executed by the parties thereto, will be, valid and legally binding obligations of the applicable Purchaser Group Company, enforceable against such party in accordance with its terms, except
(i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, and other Applicable Laws now or hereafter in effect of general application affecting enforcement of creditors’ rights generally, and (ii) as limited by
Applicable Laws relating to the availability of specific performance, injunctive relief, or other equitable remedies. 

  
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 Section 5.5 Valid Issuance of Shares. The Purchaser Series G Preference Shares
issuable pursuant to Article II, when issued, delivered and paid for in accordance with the terms of this Agreement for the consideration expressed herein, will be duly and validly issued, fully paid and
non-assessable, free from any Encumbrances (except for any restrictions on transfer under Applicable Law and under Investor Agreements). The Purchaser Conversion Shares have been reserved for issuance and,
upon issuance in accordance with the terms of the Amended Purchaser Articles, will be duly and validly issued, fully paid and non-assessable, free from any Encumbrances (except for any restrictions on transfer
under applicable securities laws and under the Investor Agreements). Purchaser has obtained valid waivers of any rights by other parties to purchase the Purchaser Series G Preference Shares issuable under Section 2.3. 

Section 5.6 Consents; No Conflicts. Except (i) as otherwise set forth on Section 5.6 of the Purchaser Disclosure Letter
and (ii) for such other filings, notifications, notices, submissions, applications, or consents the failure of which to be obtained or made would not have a Purchaser Material Adverse Effect, all filings, notifications, notices, submissions,
applications, or consents from or with any Governmental Authority or any other Person required in connection with the valid execution, delivery and performance of the Transaction Documents to which any Purchaser Group Company is party, and the
consummation of the transactions contemplated by such Transaction Documents, in each case on the part of the applicable Purchaser Group Company, have been duly obtained or completed (as applicable) and are in full force and effect. The execution,
delivery and performance of each Transaction Document to which any Purchaser Group Company is a party by the applicable Purchaser Group Company does not, and the consummation by the Purchaser Group Companies of the transactions contemplated thereby
will not (x) (assuming compliance with the matters referred to in clauses (i) and (ii) of the immediately preceding sentence) result in any violation of, be in conflict with, or constitute a default under, require any consent under, or give any
Person rights of termination, amendment, acceleration (including acceleration of any obligation of any Purchaser Group Company) or cancellation under, (A) any Governmental Order, (B) any provision of the Organizational Documents of any
Purchaser Group Company, each as currently in effect, (C) any Applicable Law, (D) any Contract of any Purchaser Group Company or (y) result in the creation of any Encumbrance upon any of the properties or assets of any Purchaser Group
Company other than Permitted Encumbrances, except in the case of sub-clauses (A), (C), and (D) of clause (x), as would not have a Purchaser Material Adverse Effect. 

  
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 Section 5.7 Compliance with Laws; Consents. Except as Disclosed in
Section 5.7 of the Purchaser Disclosure Letter: 
 (a) Except as would not have a Purchaser Material Adverse Effect, (i) each of
the Purchaser Group Companies is in compliance with all Applicable Law; (ii) no event has occurred and no circumstance exists that (with or without notice or lapse of time), (A) would reasonably be expected to constitute or result in a
violation by any Purchaser Group Company of, or a failure on the part of such entity to comply with, any Applicable Law, or (B) would reasonably be expected to give rise to any obligation on the part of any Purchaser Group Company to undertake,
or to bear all or any portion of the cost of, any remedial action initiated or brought by any Governmental Authority, and no Purchaser Group Company has received any written notice from any Governmental Authority regarding any of the foregoing; and
(iii) no Purchaser Group Company is, to the Knowledge of Purchaser, under investigation with respect to a violation of any Applicable Law. To the Knowledge of Purchaser, no Purchaser Group Company is or has been party to any agreement or
practice which infringes Antitrust Laws, or is or has been subject to any previous, current or pending investigation, complaint, action or negative decision in relation to Antitrust Laws. 

(b) The Purchaser Group Companies have or hold all material franchises, approvals, permits, consents, qualifications, certifications,
authorizations, licenses, orders, registrations, certificates, variances or other similar permits, rights and all pending applications therefor from or with the relevant Governmental Authority required to operate the business of the Purchaser Group
Companies, as currently conducted, in accordance with Applicable Law (collectively, the “Purchaser Required Governmental Authorizations”), and all such Purchaser Required Governmental Authorizations are valid and in full force and
effect. 
 (c) Except as would not have a Purchaser Material Adverse Effect, (i) no Purchaser Required Governmental Authorizations
contains any unduly burdensome restrictions or conditions; (ii) each Purchaser Required Governmental Authorizations is in full force and effect and will remain in full force and effect upon the consummation of the Transaction; (iii) no
Purchaser Group Company is in default under any Purchaser Required Governmental Authorizations; and (iv) to the Knowledge of Purchaser, there is no Purchaser Required Governmental Authorizations which is subject to periodic renewal that will
not be granted or renewed. No Purchaser Group Company has received any letter or other written communication from, and, to the Knowledge of Purchaser, there has not been any public notice of a type customary as a form of notification of such matters
in the jurisdiction by, any Governmental Authority threatening or providing notice of (i) the revocation or suspension of any Purchaser Required Governmental Authorizations issued to such Purchaser Group Company or (ii) the need for
compliance or remedial actions in respect of the activities carried out by such Purchaser Group Company, which revocation, suspension, compliance or remedial actions (or the failure of the Purchaser Group Companies to undertake them) would have a
Purchaser Material Adverse Effect. 
 (d) No Purchaser Group Company or any of their respective directors, commissioners or officers and, to
the Knowledge of Purchaser, any employees, agents or any other persons acting for or on behalf of any Purchaser Group Company has: (i) made any bribe, influence payment, kickback, payoff, benefits or any other type of payment (whether tangible
or intangible) that would be unlawful under any Anticorruption Law; (ii) in violation of any Anticorruption Law, offered, paid, promised to pay, or authorized any payment or transfer of anything of value, directly or indirectly, to any Person
for the purpose of (A) influencing any act or decision of any Government Official in his official capacity, (B) inducing a Government Official to do or omit to do any act in relation to his lawful duty, (C) securing any improper
advantage, (D) inducing a Government Official to influence or affect any act, decision or omission of any Governmental Authority, or (E) assisting any Purchaser Group Company, or any agent or any other person acting for or on behalf of any
Purchaser Group Company, in obtaining or retaining business for or with, or in directing business to, any Person; or (iii) accepted or received any contributions, payments, gifts, or expenditures that would be unlawful under any Anticorruption
Law. 

  
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 (e) No Government Official serves as an officer, director, commissioner or employee of any
Purchaser Group Company. 
 (f) No Purchaser Group Company or, to the Knowledge of Purchaser, any of their respective directors,
commissioners or officers has ever been found by a Governmental Authority to have violated any Anticorruption Law or any securities Applicable Law or is subject to any indictment or any government investigation for bribery or otherwise with respect
to any Anticorruption Laws. 
 (g) No Purchaser Group Company or, to the Knowledge of Purchaser, any of their respective directors,
commissioners, officers or employees, or any agent or any other person acting for or on behalf of any Purchaser Group Company, is a Prohibited Person, and, to the Knowledge of Purchaser, no Prohibited Person has been given an offer to become an
employee, officer, consultant, director or commissioner of any Purchaser Group Company. No Purchaser Group Company has knowingly conducted or agreed to conduct any business, or knowingly entered into or agreed to enter into any transaction with a
Prohibited Person. 
 Section 5.8 Tax Matters. 

(a) All income and all other material Tax Returns required to be filed by or with respect to each Purchaser Group Company have been filed
within the requisite period (taking into account any extensions) and completed in all material respects on a proper basis in accordance with Applicable Law. All material Taxes have been or will be paid in a timely fashion or have been accrued for on
the financial statements of the applicable Purchaser Group Company. No deficiencies for any Taxes with respect to any Tax Returns of a Purchaser Group Company have been asserted in writing by, and no written notice of any pending action, audit,
assessment or other proceeding with respect to such Tax Returns or any Taxes of a Purchaser Group Company has been received from, any Tax authority, and no dispute or assessment relating to such Tax Returns or such Taxes with any such Tax authority
is outstanding. No claim has ever been made by a Tax authority in a jurisdiction where a Purchaser Group Company does not file Tax Returns that such Purchaser Group Company is or may be subject to taxation by that jurisdiction. 

(b) There is no outstanding audit dispute, claim, assessment or other proceeding with any Tax authority concerning any Tax Liability of or
imposed on any Purchaser Group Company and, to the Knowledge of Purchaser, no such audit dispute, claim, assessment or other proceeding has been threatened in writing by a Tax authority. No Purchaser Group Company has waived any statute of
limitations with respect to any material Taxes, or agreed to any extension of time with respect to an assessment or deficiency for such material Taxes. 

  
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 (c) There are no Tax Encumbrances (other than Permitted Encumbrances) upon any shares,
securities, equity interests, property or assets of any Purchaser Group Company. 
 (d) Except as Disclosed in Section 5.8(d) of the
Purchaser Disclosure Letter, to the Knowledge of Purchaser, (i) no shareholder of Old Sake Parent has on such shareholder’s Tax Return treated Old Sake Parent or any of its Subsidiaries as a “passive foreign investment company”
within the meaning of Section 1297 of the Code, and (ii) no shareholder of Old Sake Parent has requested information from Old Sake Parent for purposes of such shareholder making a “qualified electing fund” election with respect
to Old Sake Parent or any of its Subsidiary pursuant to Section 1295 of the Code. 
 (e) None of the Purchaser Group Companies are
required to include any item of income in, or exclude any item of deduction from, taxable income for any taxable period (or portion therefor) ending after the Closing Date as result of (i) any change in Tax method or method of accounting in any
Pre-Closing Tax Period or (ii) any closing agreement with any Tax authority in any Pre-Closing Tax Period. 

(f) Each Purchaser Group Company has complied in all material respects with all Applicable Laws relating to withholding of Taxes and the
payment thereof, and have timely and properly withheld and paid all Taxes required to have been withheld and paid, including in relation to compensation paid to its employees, third party contractors and transactional counterparts. 

(g) Except as Disclosed in Section 5.8(g) of the Purchaser Disclosure Letter, no Purchaser Group Company is a Tax resident, has a
permanent establishment (including, as the agent of another Person) or is subject to Tax (other than withholding Tax) in any jurisdiction other than in its country of incorporation. 

(h) None of Purchaser, or, to the Knowledge of Purchaser, the shareholders of Purchaser or any of their respective Affiliates, have entered
into a Prohibited Transfer; provided, however, that Purchaser shall not be deemed to have violated this representation if Purchaser, the shareholders of Purchaser, or any of their respective Affiliates delivers an opinion of reputable
counsel that is reasonably acceptable to the Seller stating that the Prohibited Transfer should not have caused the 351 Contributions to fail to be treated as an exchange described in Section 351 of the Code. 

(i) Nothing in this Section 5.8 shall be deemed to be a representation as to the amount of any net operating losses or other attributes
available for carryover or the ability to properly apply any past Tax accounting or other reporting positions in future periods. 

  
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 Section 5.9 Financial Statements. Purchaser has delivered to Seller, Old Sake
Parent’s (i) audited consolidated financial statements as of and for the year ended on December 31, 2016 and (ii) unaudited condensed consolidated statement of income and unaudited condensed consolidated cash flow statement as of
and for the year ended on December 31, 2017 (the “Purchaser Statement Date” and collectively, the “Purchaser Financial Statements”). The Purchaser Financial Statements (x) have been prepared in accordance
with the books and records of the Purchaser Group Companies, (y) fairly present in all material respects the financial condition and position of the Old Sake Parent and its Subsidiaries on a consolidated basis as of the dates indicated therein, and
the results of operations of Old Sake Parent on a consolidated basis for the periods indicated therein, and (z) were prepared in accordance with IFRS applied on a consistent basis throughout the periods involved. 

Section 5.10 Absence of Changes. 

(a) Since the Purchaser Statement Date, (a) each of the Purchaser Group Companies has operated its business in the Ordinary Course and
collected receivables and paid payables and similar obligations in the Ordinary Course and (b) there has not been any Purchaser Material Adverse Effect. 

(b) Since the Purchaser Statement Date, the Purchaser Group Companies have used commercially reasonable efforts to (i) preserve intact the
present business organizations of the Purchaser Group Companies, and (ii) preserve the beneficial relationships of the Purchaser Group Companies with employees, suppliers, distributors, riders and driver partners and managers, licensors,
licensees and others having business dealings with them, all with the goal of preserving unimpaired the goodwill and ongoing business of the Purchaser Group Companies. 

(c) Since the Purchaser Statement Date, except as set forth in Section 5.10(c) of the Purchaser Disclosure Letter and except as Disclosed
pursuant to the Purchaser Material Contracts or fully included in the determination of the Final Closing Purchaser Net Cash Amount, no Purchaser Group Company, has: 

(i) other than (x) the Purchaser Restructuring or (y) a restructuring pursuant to which, after the consummation of
the Closing, all of Purchaser’s direct Subsidiaries as of the Closing would become direct Subsidiaries of Purchaser’s Subsidiary Midco pursuant to Section 7.6(a), proposed or adopted a plan of complete or partial liquidation or
dissolution, consolidation, restructuring, recapitalization or other reorganization of Purchaser or any material Subsidiary of Purchaser; 

(ii) sold, leased, transferred, or disposed of any property or assets, or any portion thereof or interest therein, in any
single transaction or series of related transactions, except for (A) transactions pursuant to Contracts entered into in the Ordinary Course, (B) transactions that individually or in the aggregate do not exceed USD25,000,000 or (C)
dispositions of obsolete, surplus or worn out assets that are no longer useful in the conduct of the business of Purchaser; 

(iii) made any acquisition of, or investment in, a business, by purchase of stock, securities or assets, merger or
consolidation, or contributions to capital, or loans or advances, in any such case with a value or purchase price in excess of USD25,000,000 individually or in the aggregate; 

  
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 (iv) settled any Action by any Governmental Authority or any other third
party material to the business of Purchaser in excess of USD5,000,000; 
 (v) with respect to the Chief Executive Officer of
the Purchaser Group Companies, or any of his direct reports, adjusted aggregate compensation or paid any bonus, other than any adjustments to compensation or payments of bonuses made in the Ordinary Course; 

(vi) declared, set aside, redeemed, repurchased, made or paid any dividend or other distribution, payable in cash, shares,
property or otherwise, with respect to any of its share capital, except for dividends between Purchase Group Companies (other than, for the avoidance of doubt, the cancellation and conversion of the ordinary shares and preference shares of Old Sake
Parent into the right of Old Sake Parent’s shareholders to receive Purchaser Ordinary Shares or Purchaser Preference Shares, as the case may be, of corresponding class or series in connection with the Purchaser Restructuring); or 

(vii) announced an intention, entered into a formal or informal agreement or otherwise made a commitment to do any of the
foregoing. 
 Section 5.11 Actions. Except as would not have a Purchaser Material Adverse Effect, (i) there is no Action
pending or, to the Knowledge of Purchaser, threatened in writing against or affecting any Purchaser Group Company or any of its officers, directors or commissioners with respect to its businesses or proposed business activities, or any officers,
directors or commissioners of any Purchaser Group Company in connection with such Person’s respective relationship with any Purchaser Group Company; (ii) there is no judgment or award unsatisfied against any Purchaser Group Company, nor is
there any Governmental Order in effect and binding on any Purchaser Group Company or their respective assets or properties; (iii) to the Knowledge of Purchaser, no Governmental Authority has challenged or questioned in writing the legal right
of any Purchaser Group Company to conduct its business as currently being conducted; and (iv) there is no Action pending by Purchaser or any of its Subsidiaries against any third party. 

Section 5.12 Liabilities. Neither Purchaser nor any of its Subsidiaries has any Liabilities, except for Liabilities (i) set
forth in the Purchaser Financial Statements that have not been satisfied since the Purchaser Statement Date, (ii) that are current Liabilities incurred since the Purchaser Statement Date in the Ordinary Course, (iii) that are executory
obligations under Purchaser Material Contracts, or any Contract not required to be included in Section 5.13(a) of the Purchaser Disclosure Letter, (iv) set forth on Section 5.12 of the Purchaser Disclosure Letter, (v) arising
under this Agreement, (vi) of a type or nature expressly addressed in any of the other representations and warranties under this Article V (whether or not any particular of such Liabilities would have been expressly included or excluded in the
coverage of such representation or warranty as a result of any thresholds, Knowledge, materiality, Purchaser Material Adverse Effect, or other qualifiers contained therein) or (vii) which would not have a Purchaser Material Adverse Effect. 

  
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 Section 5.13 Commitments. 

(a) Section 5.13(a) of the Purchaser Disclosure Letter contains a true, correct and complete list of all Purchaser Material Contracts and
none of Purchaser or any of its Subsidiaries is a party to or bound by any Purchaser Material Contract that is not listed on Section 5.13(a) of the Purchaser Disclosure Letter. Purchaser has made available to Seller true, correct and complete
copies of all Purchaser Material Contracts, including any amendments thereto. 
 (b) Except as would not have a Purchaser Material Adverse
Effect: (i) Each Purchaser Contract is a valid and binding agreement of the applicable Purchaser Group Company; the performance of which by the applicable Purchaser Group Company does not violate any Applicable Law or Governmental Order, and
each such agreement is in full force and effect and enforceable against the parties thereto in accordance with its terms, except (A) as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general
application affecting enforcement of creditors’ rights generally, and (B) as may be limited by laws relating to the availability of specific performance, injunctive relief or other remedies in the nature of equitable remedies; (ii) no
Purchaser Contract has been terminated or cancelled by the other party thereto; (iii) each Purchaser Group Company has duly performed all of its obligations under each Purchaser Contract to which it is a party to the extent that such
obligations to perform have accrued, and no breach or default, alleged breach or alleged default, or event which would (with the passage of time, notice or both) constitute a breach or default thereunder by such Purchaser Group Company with respect
thereto, or, to the Knowledge of Purchaser, any other party or obligor with respect thereto, has occurred (except for a breach or default of a type or nature expressly addressed in clause (D) of the last sentence of Section 5.6); (iv) no
Purchaser Group Company has, since the Purchaser Statement Date, given written notice that it intends to terminate a Purchaser Contract or that any other party thereto has breached, violated or defaulted or that there is any other material dispute
under any Purchaser Contract; and (v) no Purchaser Group Company has, since the Purchaser Statement Date, received any written notice that it has breached, violated or defaulted or that there is any other material dispute under any Purchaser
Contract or that any other party thereto intends to terminate such Purchaser Contract and (vi) no Purchaser Group Company party to a Purchaser Contract has waived any right under any such Purchaser Contract in a manner that would affect or
modify any term of such Purchaser Contract, or would otherwise have an adverse effect on any Purchaser Group Company, after Closing. 

  
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 Section 5.14 Title; Properties. 

(a) Each of the Purchaser Group Companies has good and valid title to all of the assets (other than Intellectual Property and Business Data,
which in each case is addressed in Section 5.15) owned by it, whether tangible or intangible (including those reflected in the Purchaser Financial Statements, together with all assets (other than Intellectual Property and Business Data, which
in each case is addressed in Section 5.15) acquired thereby since the Purchaser Statement Date, but excluding any tangible or intangible assets that have been disposed of since the Purchaser Statement Date in the Ordinary Course), and in each
case free and clear of all Encumbrances, other than Permitted Encumbrances. All material tangible assets of the Purchaser Group Companies are in good working condition and repair in the Ordinary Course, reasonable wear and tear excepted. 

(b) No Purchaser Group Company owns or has, or had ever owned or had, legal or equitable title or other right or interest in any real property
other than as held pursuant to their respective leases or leasehold interests (including tenancies) in such property (each Contract evidencing such interest, a “Purchaser Lease”, and any Purchaser Lease involving rent payments in
excess of USD500,000 on an annual basis, a “Purchaser Material Lease” ). Section 5.14(b) of the Purchaser Disclosure Letter sets forth the parties to each Purchaser Material Lease and the address of the property demised under
each such Purchaser Material Lease and the term of each such Purchaser Material Lease. Except as would not have a Purchaser Material Adverse Effect, (i) each Purchaser Lease is in compliance with Applicable Law and all Governmental Orders
required under Applicable Law in respect of any Purchaser Lease have been obtained, including with respect to the operation of property and conduct of business as now conducted by the applicable Purchaser Group Company which is a party to such
Purchaser Lease, (ii) no Purchaser Group Company has sublet, assigned or hypothecated its leasehold interest under any Purchaser Lease, and (iii) the leasehold interests held by the Purchaser Group Companies are adequate for the conduct of
its business as currently conducted. 
 Section 5.15 Intellectual Property Rights. 

(a) Section 5.15(a) of the Purchaser Disclosure Letter sets forth a true, correct and complete list of all Purchaser Registered IP,
including for each the relevant name or description, registration/certification or application number, and filing, registration or issue date. Except as would not have a Purchaser Material Adverse Effect, Purchaser and/or a Purchaser Group Company
has taken reasonable and appropriate steps to make required filings and registrations (and corresponding payments of fees therefor) to Governmental Authorities in connection with registrations and applications for the Purchaser Registered IP
material to the operation of business of the Purchaser Group Companies. 
 (b) Purchaser and/or a Purchaser Group Company is the owner of the
Purchaser Owned IP, free and clear of all Encumbrances other than Permitted Encumbrances. The Purchaser Registered IP is, to the Knowledge of Purchaser, valid and subsisting and enforceable. 

(c) Except as would not have a Purchaser Material Adverse Effect, and to the Knowledge of Purchaser, none of the Purchaser Owned IP has
violated, infringed or misappropriated any Intellectual Property or Business Data of any Person during the three (3) years prior to the Closing Date, nor has any of the Purchaser Group Companies received in the three (3) years prior to the
Closing Date any written notice alleging any of the foregoing. To the Knowledge of Purchaser, and except as would not have a Purchaser Material Adverse Effect, no Person is currently violating, infringing or misappropriating any Purchaser Owned IP
and, except as Disclosed in Section 5.15(c) of the Purchaser Disclosure Letter, none of the Purchaser Group Companies has given any written notice to any other Person in the three (3) years prior to the Closing Date alleging any of the
foregoing. 

  
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 (d) All employees, contractors, agents and consultants of the Purchaser Group Companies who
are or were during the three (3) years preceding the date hereof hired to be involved in the creation or development of any material Intellectual Property for any of the Purchaser Group Companies which Intellectual Property is material to the
operation of the Purchaser Group Companies businesses have either (subject to applicable Law (i) executed an assignment of inventions or other similar agreement that assigns to one of the Purchaser Group Companies exclusive ownership of such
person’s rights in such Intellectual Property or (ii) by operation of law, assigned exclusive ownership of such person’s rights in such Intellectual Property. 

(e) Section 5.15(e) of the Purchaser Disclosure Letter sets forth a true, correct and complete list of, and Purchaser has provided to
Seller true, correct and complete copies of, all Contracts pursuant to which any of the Purchaser Group Companies is authorized to use, exercise, or receive any benefit from any Business Data or any Intellectual Property of another Person (including
of Purchaser) that is material to the operation of the business of the Purchaser Group Companies (excluding COTS Licenses and Incidental Licenses). 

(f) Except as would not have a Purchaser Material Adverse Effect, Purchaser has established, with respect to and for the Purchaser Group
Companies, data privacy and data security policies that are in conformance with all Applicable Law. At all times when conducting the business of the Purchaser Group Companies, except as would not have a Purchaser Material Adverse Effect, Purchaser
has provided, with respect to and for the business of the Purchaser Group Companies, accurate notice of its data privacy and data security policies on all of its consumer-facing websites (and through consumer-facing mobile applications) and these
notices have not contained any material omissions in violation of Applicable Law. Except as would not have a Purchaser Material Adverse Effect, Purchaser has complied with (i) Applicable Law, (ii) all requirements of self-regulatory
organizations, (iii) its published data privacy and data security policies, and (iv) any contractual obligations and consumer-facing statements made by Purchaser or any of its Affiliates (including any such statements on its
consumer-facing website and through consumer-facing mobile applications), in each instance above, relating to the use, collection, retention, storage, security, disclosure, transfer, disposal, or other processing or dealing, in whole or in part, of
any PII; and the execution, delivery and performance of this Agreement and the consummation of the Transaction will not result in a material breach or violation of any Applicable Law related to data privacy as it pertains to the Purchaser Owned IP.
Except as set forth on Section 5.15(f) of the Purchaser Disclosure Letter, (a) there is no Action pending or, to the Knowledge of Purchaser, threatened in writing against or affecting any Purchaser Group Company regarding, and
(b) neither Purchaser nor any of Purchaser Group Companies has received in the three (3) years prior to the Closing Date any written complaint from any Person (including any Governmental Authority), and to the Knowledge of Purchaser, there
has been no, complaint made by any Person, including to or by any Governmental Authority regarding, in each instance above, the collection, use, retention, storage, security, transfer, disposal, disclosure or other processing or dealing thereof by
or for the business of the Purchaser Group Companies. 

  
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 (g) Except as would not have a Purchaser Material Adverse Effect, the Purchaser Group
Companies have implemented and maintained reasonable and appropriate disaster recovery and security plans, procedures and facilities and have taken other reasonable steps consistent with industry practices of companies offering similar services to
safeguard any confidential information, PII, and information technology systems utilized by Purchaser or the Purchaser Group Companies in the operation of the business of the Purchaser Group Companies (the “Purchaser IT Systems”),
from unauthorized or illegal access and use. Except as would not have a Purchaser Material Adverse Effect, and to the Knowledge of Purchaser, there has been no breach of security or unauthorized access by third parties to (i) the Purchaser IT
Systems, (ii) confidential information, or (iii) any PII collected, held, or otherwise managed by or on behalf of Purchaser or the Purchaser Group Companies with respect to the business of the Purchaser Group Companies. 

(h) Except as would not have a Purchaser Material Adverse Effect, (i) the Purchaser Group Companies have taken reasonable steps,
consistent with industry practices of companies offering similar services, to maintain the Purchaser Owned IP material to the conduct of the business of the Purchaser Group Companies and (ii) and except with respect to the Current Patents (as
defined in the Transition Services Agreement), the Intellectual Property owned or used (or held for use) by the Purchaser Group Companies is sufficient for conduct of the business of the Purchaser Group Companies as conducted during the 12-months prior to the Closing. 
 (i) Notwithstanding anything to the contrary in this Agreement, the
representations and warranties contained in Section 5.4, Section 5.6, Section 5.7 and this Section 5.15 are the sole and exclusive representations and warranties made by Purchaser with respect to the validity, enforcement,
ownership, infringement, violation or misappropriation of, and compliance with Applicable Laws concerning Intellectual Property and Business Data. 

Section 5.16 Labor and Employee Matters. 

(a) Except as Disclosed in Section 5.16(a) of the Purchaser Disclosure Letter or as would not have a Purchaser Material Adverse Effect,
(i) each of the Purchaser Group Companies has complied with all Applicable Law related to labor or employment, including without limitation provisions thereof relating to wages and payrolls, working hours and resting hours, overtime, working
conditions, benefits, recruitment, retrenchment, retirement, minimum employment and retirement age, social welfare, equal opportunity, discrimination, worker classification, occupational health and safety, statutory regular health check, wrongful
discharge, layoffs or plant closings, immigration, employees provident fund, social security organization and collective bargaining, trade union, employment agreements, compulsory employment insurance, internal labor rules, company regulations,
labor discipline, foreign employees, public holiday and leaves, labor contracts, labor disputes, statutory labor or employment reporting and filing obligations and contracting arrangements; (ii) there is no pending or, to the Knowledge of
Purchaser, threatened Action relating to the violation of any Applicable Law by such Purchaser Group Company related to labor or employment, including without limitation any charge or complaint filed by any of its current or former employees,
directors, commissioners, officers, consultants or contractors with any Governmental Authority or any Purchaser Group Company; and (iii) the Purchaser Group Companies have properly classified for all purposes (including for Tax purposes and for
purposes of determining eligibility to participate in any Purchaser Benefit Plan) all Persons who have performed services for or on behalf of each such entity, and have properly withheld and paid all applicable Taxes and statutory contributions and
made all required filings in connection with services provided by such Persons to the Purchaser Group Companies in accordance with such classifications. 

  
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 (b) Except as would not have a Purchaser Material Adverse Effect, (i) each of the
Purchaser Benefit Plans has been operated and administered in accordance with its terms, and is in compliance with all Applicable Law, and all contributions to, and payments for each such Purchaser Benefit Plan have been timely made, and, to the
Knowledge of Purchaser, no event, transaction or condition has occurred or exists that would result in any such Liability to any of the Purchaser Group Companies under such Purchaser Benefit Plan; (ii) there are no pending or, to the Knowledge
of Purchaser, threatened Actions involving any Purchaser Benefit Plan (except for routine claims for benefits payable in the normal operation of any Purchaser Benefit Plan) and to the Knowledge of Purchaser, no facts or circumstances exist that
could give rise to any such Actions; (iii) no Purchaser Benefit Plan is under investigation or audit by any Governmental Authority and, to the Knowledge of Purchaser, no such investigation or audit is contemplated or under consideration; and
(iv) each Purchaser Group Company is in compliance with all Applicable Laws and Contracts relating to its provision of any form of Social Insurance, and has paid, or made provision for the payment of, all Social Insurance contributions required
under Applicable Law and Contracts. 
 (c) None of the Purchaser Group Companies sponsor, maintain or contribute to, or have an obligation to
contribute to, or has, within the six (6) years prior to the Closing Date, sponsored, maintained or contributed to, or had an obligation to contribute to, or have any liability in respect of, any defined benefit pension plans, schemes or
arrangements in any jurisdiction, including without limitation any plans, schemes or arrangements subject to Section 412 or 430 of the Code or Title IV of ERISA, except for any such statutory plans, schemes or arrangements that the Purchaser
Group Companies are required to make contributions to under Applicable Law. 
 (d) Except as set forth in any Transaction Document, neither
the execution of any of the Transaction Documents to which Purchaser is a party nor the consummation of the Transaction (either alone or in combination with another event) will (i) result in any payment becoming due to any Purchaser employees
or any director, officer, employee, independent contractor or consultant of any Purchaser Group Company; (ii) increase the amount of compensation or any benefits otherwise payable under any of the Purchaser Benefit Plans; or (iii) result
in any acceleration of the time of payment, exercisability, funding or vesting of any such benefits. 

  
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 (e) There is not any pending or, to the Knowledge of Purchaser, threatened, strike, union
organization activity, lockout, slowdown, picketing, or work stoppage or any unfair labor practice charge against any Purchaser Group Company. No Purchaser Group Company is party to, bound by or subject to (and none of their assets or properties is
party to, bound by or subject to) any written or oral Contract, commitment or arrangement with any labor union, labor organization, employee organization or works council. 

Section 5.17 Interested Party Transactions. Except as set forth in Section 5.17 of the Purchaser Disclosure Letter, since
January 1, 2015, (i) no Purchaser Related Party has any Contract or understanding or transaction with, or is indebted to, any Purchaser Group Company or has any interest in any Purchaser Group Company (other than Equity Securities of such
company held by any of its partners, shareholders or members), nor is any Purchaser Group Company indebted (or committed to make loans or extend or guarantee credit) to any Purchaser Related Party; (ii) no Purchaser Related Party has any
material interest in any Person with which a Purchaser Group Company has a material business relationship (including any Person which purchases from or sells, licenses or furnishes to a Purchaser Group Company any goods, Intellectual Property,
Business Data or other property rights or services), or in any Contract that is necessary for the operation of the business of Purchaser or to which any of the Purchaser Group Companies is a party or, to the Knowledge of Purchaser, by which any
Purchaser Group Company may be bound or affected, and no Purchaser Related Party (other than SoftBank, and other than portfolio companies of any Purchaser Related Party that is a third party investor of Purchaser and is not a founder or a current or
former employee or officer of a Purchaser Group Company) directly or indirectly competes with, or, to the Knowledge of Purchaser, has any material interest in any Person that directly or indirectly competes with, any Purchaser Group Company or the
business of Purchaser (other than ownership of less than one percent (1%) of the stock of publicly traded companies); (iii) no Purchaser Related Party that is an individual or a shareholder of Purchaser has received any payment or other benefit from
any Purchaser Group Company (except for payments and benefits received in connection with such Person’s employment in the Ordinary Course on an arm’s length basis); and (iv) no Purchaser Related Party has filed or, to the Knowledge of
Purchaser, intends to file a cause of action or other claim or Action against any Purchaser Group Company; provided that, for the purposes of clause (ii) above, the definition of “Purchaser Related Party” shall be deemed
to exclude the respective employees and equityholders of Purchaser or its Affiliates except to the extent that Purchaser has Knowledge that such person has an interest. 

  
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 Section 5.18 Insurance Matters. Except as would not have a Purchaser Material
Adverse Effect: (i) all insurance policies and all self-insurance programs and arrangements relating to the business, assets, Liabilities, operations and directors, commissioners and officers (if any) of each Purchaser Group Company are in full
force and effect, no written notice of cancellation or modification has been received, and, to the Knowledge of Purchaser, there is no existing default or event which, with the giving of notice or lapse of time or both, would constitute a default,
by any insured thereunder; and (ii) to the Knowledge of Purchaser, no Purchaser Group Company has received any written notice of any threatened termination of, premium increase with respect to, or alteration of coverage under, any of its
respective insurance policies or has been formally denied any insurance coverage which it has sought or for which it has applied. Such insurance policies are with reputable insurance carriers and provide coverage against such risks and in such
amounts and with such deductibles as are customary for businesses of that size in the Territories in businesses generally comparable to the business of Purchaser. 

Section 5.19 Brokers. No broker, finder or investment banker is entitled to any brokerage, finder’s or other fee or
commission or expense reimbursement in connection with the Transaction based upon arrangements made by and on behalf of Purchaser or any of its Affiliate (except for the fees of The Raine Group LLC which will be paid by Purchaser). 

Section 5.20 No Additional Representations or Warranties. Except for the representations, warranties and undertakings made by
Purchaser as expressly set forth in this Article V, or as expressly made by Purchaser or any of its Affiliates in any other Transaction Document, neither Purchaser nor any of its Representatives or Affiliates, or any other Person acting on their
behalf, makes any other express or implied, statutory or otherwise, representation, warranty or undertaking of any kind or nature in connection with the Transaction. Neither Purchaser nor any of its Representatives or Affiliates, or any other Person
acting on their behalf, makes any express or implied, statutory or otherwise, warranty or undertaking with respect to any projections, estimates or budgets provided to Seller or its Representatives or Affiliates (howsoever and whensoever provided)
of future revenues, future results of operations (or any component thereof), future cash flows or future financial condition (or any component thereof) of Purchaser and any of its Affiliates or the future business and operations of Purchaser and its
Affiliates, except to the extent expressly provided in this Article V. Seller acknowledges that the representations and warranties in this Article V are the result of arms’ length negotiations between sophisticated parties. None of Seller or
its Representatives or Affiliates has relied on and is not relying on any representations or warranties regarding Purchaser, its Affiliates or their respective businesses, including such representations or warranties made by or on behalf of
Purchaser before the signature of this Agreement, including during the course of negotiating this Agreement, other than those representations and warranties expressly set forth in this Article V or as expressly made by Purchaser or any of its
Affiliates in any Transaction Document. 
 Section 5.21 Separate and Independent Representations and Warranties. Each of the
representations and warranties in this Article V shall be construed as a separate and independent representation or warranty and except where this Agreement expressly provides otherwise, is not limited by the other provisions of this Agreement,
including the other representations or warranties. 

  
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 ARTICLE VI 

CERTAIN COVENANTS OF THE PARTIES 

Section 6.1 Lion City Transaction. 

(a) From the consummation of the Closing until the expiration of the Lion City Transitional Services Period: 

(i) Seller 1 shall cause Mieten B.V. and its Affiliates, directly or indirectly, to hold 100% of the share capital of Lion
City Rentals as long as the Lion City Transaction has not been consummated; 
 (ii) Until the earlier to occur of
(i) the Lion City Closing and (ii) the CCS Disapproval, Purchaser shall cause up to eight (8) Continuing Employees (selected by Seller within two (2) weeks following the Closing with the approval of Purchaser not to be
unreasonably withheld) to dedicate a reasonable amount of their time to the performance of the Lion City Transitional Services; 

(iii) Purchaser shall, in each case subject to compliance with applicable Antitrust Laws or Orders by any Governmental
Authority: 
 (A) at Seller’s reasonable request from time to time, participate in meetings with Seller and Comfort to
discuss a potential collaboration between Purchaser and Comfort with respect to some or all of the matters covered by the Collaboration Agreement (it being understood and agreed that neither Purchaser nor any other Purchaser Group Company shall be
under any obligation to agree to any such collaboration); 

  
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 (B) subject to Seller making the reimbursement payments under
Section 6.1(a)(iv), cause one or more Purchaser Group Companies designated by Purchaser to provide (x) the following services to Lion City Rentals, in case of sub-clauses I and III substantially
consistent with, and on in the aggregate no less favorable terms than, such Purchaser Group Company/ies’ past practice of providing such services to non-affiliated third party fleet, rental or leasing
partners, and (y) the services set forth on Exhibit 6.1(a)(iii)(B) (collectively, the “Lion City Transitional Services”): 

I. if and to the extent that any Purchaser Group Company generates a Driver, Courier and Restaurant Payable from the use by a
Sake Driver of a vehicle owned by Lion City Rentals (each such vehicle, a “Lion City Car” and each such Sake Driver using such Lion City Car, a “Sake LCR Driver”), such Purchaser Group Company shall deduct from the
amount of any Driver, Courier and Restaurant Payable actually owed to such Sake LCR Driver any outstanding amount then owed to Lion City Rentals by such Sake LCR Driver under such Sake LCR Driver’s car rental or car lease agreement with Lion
City Rentals, and (i) pay such amounts to Lion City Rentals on a weekly basis (except with respect to the first two (2) weeks after the Closing Date, payment for which shall be made on the date on which payment will be made with respect to
the third weekly payment cycle after the Closing Date) within two (2) Business Days of Lion City Rentals delivering a mutually agreeable settlement file to Purchaser (covering Monday to Sunday (inclusive) of the prior week) and
(ii) deliver to Lion City Rentals on a weekly basis (except with respect to the first two (2) weeks after the Closing Date, delivery for which shall be made on the date on which delivery will be made with respect to the third weekly
delivery cycle after the Closing Date) within 24 hours of Lion City Rentals delivering a mutually agreeable settlement file to Purchaser (covering Monday to Sunday (inclusive) of the prior week), a report via CSV outlining the rental amounts
collected and paid by the Purchaser Group Companies to Lion City Rentals for such week for each individual Sake LCR Driver, pursuant to procedures, formatting and timing agreed by the Parties in good faith; 

II. such Purchaser Group Company/ies shall refer, on a non-exclusive basis, all Sake
Drivers to the car rental program of Lion City Rentals and provide marketing and driver partner onboarding services to Lion City Rentals; 

III. such Purchaser Group Company/ies shall provide, reasonable support for Sake LCR Drivers in their attempts to obtain the
Private Hire Car Driver Vocational License (“PDVL”) from the Singapore Land Transport Authority (x) with respect to existing Sake LCR Drivers as of the Closing (unless support is needed beyond such date) until June 30,
2018 and (y) with respect to Sake Drivers who become Sake LCR Drivers following the Closing, until the expiration of the Lion City Transitional Services Period; and 

IV. such Purchaser Group Company/ies shall provide, on a weekly basis (except with respect to the first two (2) weeks
after the Closing Date, delivery for which shall be made on the date on which delivery will be made with respect to the third weekly delivery cycle after the Closing Date), pursuant to a timing and format mutually agreeable between Lion City Rentals
and Purchaser, and subject to a clean team agreement in form and substance reasonably satisfactory to Purchaser, Lion City Rentals with data relating to (i) the PDVL status of Sake LCR Drivers, (ii) the collection of Driver, Courier and
Restaurant Payables originating from the use of Lion City Cars by each Sake LCR Driver (in accordance with the timing and format as set forth in Section 6.1(a)(iii)(B)I above), and (iii) accident data and incident response team data
relating to the use of Lion City Cars by Sake LCR Drivers. 

  
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 (iv) Seller shall reimburse Purchaser and the other Purchaser Group
Companies for all reasonable and documented direct costs and expenses associated with the provision of Lion City Transitional Services, including reasonable and documented attorneys’ fees. Purchaser shall invoice to Seller the Lion City
Transitional Services in reasonable detail on a monthly basis, and the invoiced amounts shall be payable by Seller within fifteen (15) Business Days of receipt of such invoices. 

(b) In addition to the reimbursement contemplated by Section 6.1(a)(iv), Seller shall reimburse Purchaser for all reasonable and
documented attorneys’ fees and expenses it incurs in connection with its involvement with the CCS in connection with the Lion City Transaction (which, for the avoidance of doubt, shall be separate from any fees and expenses incurred by
Purchaser in connection with the review by the CCS of the Transaction) and otherwise in connection with the matters contemplated by Section 6.1(d) through Section 6.1(e) hereof. Purchaser shall invoice to Seller for such attorneys’
fees and expenses, and the invoiced amounts shall be payable by Seller within fifteen (15) Business Days of receipt of such invoices; 

(c) Seller shall keep Purchaser reasonably apprised of the status and progress of the proceedings relating to the CCS’s review of the Lion
City Transaction and the Collaboration Agreement, unless doing so would, based on the advice of Seller’s outside legal counsel, reasonably be expected to (i) create any potential Liability under Applicable Law, including Antitrust Laws,
(ii) violate an Order of a Governmental Authority or (iii) result in the loss of any legal attorney client privilege. 
 (d) If and
only if the Lion City Transaction is approved by the CCS and the Lion City Transaction is consummated (the “Lion City Closing”) (it being understood that Purchaser shall have no right to receive any portion of the proceeds
therefrom), then: 
 (i) Seller shall cause Mieten B.V. to offer to Comfort in accordance with the Lion City Shareholders
Agreement, as promptly as practicable (but in no event earlier than five (5) Business Days after Seller shall have provided Purchaser the opportunity to identify a designee that is not a Purchaser Group Company), but in any event within two
(2) Business Days after the Lion City Closing, to acquire 49% of the share capital of Lion City Rentals (the “Remaining Lion City Interest”); 

(ii) if Comfort accepts Mieten B.V.’s offer made under Section 6.1(d)(i), then Seller shall cause Mieten B.V. to
consummate the sale of the Remaining Lion City Interest to Comfort as soon as practicable thereafter in accordance with the Lion City Shareholders Agreement (it being understood that Purchaser shall have no right to receive any portion of the
proceeds therefrom, and shall not be subject to any obligations or liabilities with respect thereto); 

  
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 (iii) if Comfort does not accept, in accordance with the Lion City
Shareholders Agreement, Mieten B.V.’s offer made under Section 6.1(d)(i), then Seller shall, without additional consideration if the transferee is Purchaser or another Purchaser Group Company (it being understood that there could be
consideration if Purchaser designates a transferee that is an unaffiliated third party), contribute the Remaining Lion City Interest to Purchaser (or, at the direction of Purchaser, to its designee), subject to satisfaction (or waiver by Purchaser
or its designee) of each of the following conditions: 
 (A) the CCS shall have approved such contribution, and any other
consent, authorization or approval under applicable Antitrust Laws shall have been obtained, and the other conditions to Purchaser’s or its designee’s acceptance of the contribution under the Contribution Agreement shall have been
satisfied or waived by Purchaser or its designee; and 
 (B) Seller, Mieten B.V. and Purchaser or its designee shall have
agreed in good faith on a Contribution Agreement, pursuant to which the Remaining Lion City Interest would be contributed, or sold, as the case may be, to (aa) a Purchaser Group Company or (bb) Purchaser’s designee (provided,
that, in the case of sub-clause (bb), Purchaser shall have identified such designee to Seller prior to Mieten B.V.’s offer made under Section 6.1(d)(i)) (the principal terms of which are set forth on
Exhibit 6.1(d)(iii)(B)) (the “Contribution Agreement”); 
 for the avoidance of doubt, neither Purchaser nor its
designee shall have any obligation to sell, or to make any payments to Seller or Mieten B.V. with respect to, the Remaining Lion City Interest; provided, that if Purchaser or its designee chooses to sell or otherwise dispose of, any portion
of the Remaining Lion City Interest (assuming the Lion City Transaction is consummated but Comfort does not accept Mieten B.V.’s offer made under Section 6.1(d)(i) and the Remaining Lion City Interest is contributed to a Purchaser Group
Company pursuant to, and after satisfaction of the conditions set forth in, this Section 6.1(d)(iii)), Seller shall have no right to receive any portion of the proceeds therefrom; 

(iv) in the event that after both (i) Comfort’s decision not to accept Mieten B.V.’s offer made under
Section 6.1(d)(i) and (ii) the approval by the CCS of the contribution under Section 6.1(d)(iii), the contribution is not consummated within thirty (30) Business Days, then the provisions applicable to the CCS Disapproval under
Section 6.1(e) shall apply mutatis mutandis with respect to the retaining, disposal or liquidation of the Remaining Lion City Interest; 

  
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 (e) If the final and non-appealable decision of the
CCS with respect to the Lion City Transaction is the disapproval, failure to approve or rejection of the Lion City Transaction (the “CCS Disapproval”), then Seller shall cause Mieten B.V. to (i) terminate the Lion City SPA and
(ii) retain, dispose of or liquidate Lion City Rentals at its own cost, as it may determine in its sole discretion; provided that so long as the CCS does not disapprove of the following proviso following the completion of any review by
CCS of the Transaction, Seller shall, at Purchaser’s request, cause Mieten B.V. not to transfer, directly or indirectly, any portion of the share capital or assets of Lion City Rentals to any of PT GO JEK Indonesia, DiDi, ANI Technologies Pvt.
Ltd., Lyft, Inc. or any of their respective Affiliates or other Persons in which any of them holds at least a 10% equity interest. 
 (f) In
the event that Seller or any of its Affiliates is required to comply with the terms of the Collaboration Agreement pursuant to a Governmental Order (other than under Antitrust Laws): 

(i) Seller shall, and shall cause its Affiliates to, use reasonable best endeavors (including with respect to any Defense
pursuant to Section 6.1(g) below) to contest the imposition of any obligation of Seller or its Affiliates to license the Uber App (as defined in the Collaboration Agreement or the “Uber” brand (including the “UberFLASH”
brand) to Comfort; 
 (ii) in the event such Governmental Order requires Seller or any of its Affiliates to license the Uber
App or the “Uber” brand (including the “UberFLASH” brand) to Comfort pursuant to the Collaboration Agreement (a “Required License”) then (A) Seller and its Affiliates shall waive and not retain any right,
title or interest in, and shall not use for any purpose (except for the sole purpose of providing the Required License to Comfort), any data that Seller or its Affiliates collect(s) or obtain(s) from any use of the Uber App under such Required
License, and (B) clause (i) of Section 6.8(a) of this Agreement, solely as it relates to Singapore (and not to any other Territory), shall be extended by the longer of the term of (x) the Required License and (y) the term during
which Seller or its Affiliates are required to perform any other obligation under the Collaboration Agreement that involves action (other than the payment of money) that would otherwise be a violation of Section 6.8 of this Agreement; and 

(iii) Seller and its Affiliates shall report and remit to Purchaser on a monthly basis any royalties, net of actual out-of-pocket costs incurred to generate royalties, paid to Seller or its Affiliates by Comfort in connection with such compliance or such Governmental Order (and Seller shall
provide Purchaser with all information reasonably requested by Purchaser from time to time to verify the amounts of such royalties). 
 For
the avoidance of doubt, this Section 6.1(f) shall in no event apply to any remedies (if any) imposed under any Antitrust Laws. 

  
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 (g) In the event Seller or any of its Affiliates is required to comply with the terms of the
Collaboration Agreement pursuant to a Governmental Order (other than under Antitrust Laws), Seller shall, and shall cause its Affiliates to: 

(i) challenge, dispute, resist, defend, litigate, appeal or otherwise seek relief against any such Governmental Order (such
actions, collectively, the “Defense”) with counsel reasonably satisfactory to Purchaser until such Governmental Order becomes final and non-appealable; 

(ii) consult in good faith with Purchaser as to the Defense; 

(iii) to the extent permitted by Applicable Law, permit Purchaser to participate in the Defense with counsel of its own
choosing at Purchaser’s sole cost and expense; 
 (iv) diligently and reasonably conduct the Defense; 

(v) to the extent permitted by Applicable Law, keep Purchaser informed of all material developments in relation to the Defense;
and 
 (vi) without the prior written consent of Purchaser, not settle, compromise or consent to the entry of any judgment
with respect to the Defense, unless such settlement, compromise or consent results in an unconditional release of Seller and its Affiliates from the performance of the Collaboration Agreement. 

Section 6.2 Public Announcement. No press release or public announcement describing the economic terms of any Transaction
Documents or the economic terms of any portion of the Transaction shall be issued or made by any Party hereto (or any Representative or Affiliate to a party hereto) without the joint approval of Purchaser and Seller, unless such public announcement
is required by Applicable Law (in the reasonable advice of counsel), court order or by obligations pursuant to any listing agreement with or rules of any securities exchange or trading market on which securities of such Party or any of its
Affiliates are listed; provided, however, that in such case where a Party (the “Disclosing Party”) is so required to make such a public announcement, the Disclosing Party shall first provide the other Party (the
“Non-Disclosing Party”) with a copy of the intended communication, and the Non-Disclosing Party shall have a reasonable period of time to review and
comment on any such communication and the Disclosing Party shall give due consideration to the comments provided by the Non-Disclosing Party. 

  
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 Section 6.3 Confidentiality. Each of the Parties shall hold, and shall cause its
Affiliates and Representatives to hold, in confidence this Agreement and the other Transaction Documents and all documents and information furnished to it by or on behalf of the other party prior to the Closing Date in connection with the
transactions contemplated hereby or after the Closing Date pursuant to this Agreement in accordance with the terms of the Regulatory Clean Team Agreement, the Due Diligence Clean Team Agreement and that certain mutual nondisclosure agreement dated
July 22, 2017 between Purchaser and Seller Parent (the “Mutual NDA”), which Mutual NDA, notwithstanding anything to the contrary set forth therein, shall continue in full force and effect until three (3) years following
the Closing Date; provided that, from and after the Closing, except for the Designated Usage set forth in, and subject to the terms of, Section 8.04(e) of the Transition Services Agreement, the restrictions on the use and disclosure of
Confidential Information (as such term is defined in the Mutual NDA) set forth in the Mutual NDA and any other of such restrictions under the Regulatory Clean Team Agreement and the Due Diligence Clean Team Agreement shall not apply (a) to
Purchaser or its Affiliates and their respective Representatives in respect of any information included in the Seller Transferred Business, (b) to Seller and its Affiliates and their respective Representatives in respect of any information
included in the Excluded Assets or Excluded Liabilities and (c) in any Dispute or other court or arbitration proceedings between Seller and or any of its Affiliates, on the one hand, and Purchaser or any of its Affiliates, on the other hand,
provided, that any Party disclosing any Confidential Information of the other Party pursuant to this clause (c) shall use reasonable best efforts to maintain the confidentiality of or pursue confidential treatment of such Confidential
Information to the fullest extent permitted by Applicable Law or the rules or procedures of any applicable court or arbitral venue (it being understood and agreed that nothing herein shall require any Party disclosing any Confidential Information of
the other Party pursuant to this clause (c) to obtain the other Party’s prior written consent with respect to, or otherwise to notify the other Party of, such disclosure). 

Section 6.4 Antitrust Law and Related Matters 

(a) As soon as reasonably practicable following the Closing (but in any event within 15 Business Days after Closing), the Parties shall jointly
submit an application for decision on the Transaction under Section 58 of the Competition Act of Singapore, Chapter 50B to the CCS. The Parties undertake to cooperate with each other in respect of any filing with, notification to, or inquiry or
investigation (whether formal or informal) by any Governmental Authority in connection with the Transaction that is based on any applicable Antitrust Law. Without prejudice to the other provisions in this Section 6.4(a), Purchaser shall
control any filings, notices, reports, submissions and other documents submitted in connection with the Transaction to any Governmental Authority in connection with any Antitrust Law (the “Transaction Regulatory Filings”) and the
defense of any inquiry, investigation (whether formal or informal) or notification with respect to any Transaction Regulatory Filing, subject to (to the extent practicable under the circumstances) good faith consultations with Seller and due
consideration of Seller’s input in advance of any decisions that are material in any respect about such communications and strategy and other matters relating thereto and compliance with the other notice, consultation and participation
requirements of this Section 6.4; provided, that nothing in this Section 6.4 shall prohibit Seller or its Affiliates from responding to any inquiry from any Governmental Authority or complying with any obligation arising under the
Antitrust Laws relating to the Transaction, and provided, further, that such response and communications comply with this Section 6.4 and are subject to good faith consultations with Purchaser and due consideration of
Purchaser’s input in advance of any decisions about such communications and strategy and other matters relating thereto. Without limiting the foregoing, subject to the Mutual NDA (and any confidentiality obligations under the Shareholders
Agreement), the Regulatory Clean Team Agreement, and any attorney-client or other legal privilege and to the extent permitted by Applicable Law, each of the parties shall use its reasonable best efforts to, in connection with any Transaction
Regulatory Filing, (i) promptly notify the other party of the receipt of any request or any substantive communication it or any of its Affiliates receives from any Governmental Authority, (ii) permit the other party to review in advance
and comment upon, and will give due consideration to the views of the other party in connection with, any proposed communication by such party to any Governmental Authority (excluding non-substantive meetings
or telephone calls), (iii) give each other reasonable advance notice of all meetings or telephone calls with any Governmental Authority (excluding non-substantive meetings or telephone calls), and (iv) to
the extent permitted by the relevant Governmental Authority, not agree to participate in any meeting or telephone call with any Governmental Authority (excluding non-substantive meetings or telephone calls) in
respect of any such Transaction Regulatory Filing unless it consults with the other party in advance and, to the extent permitted by such Governmental Authority, gives the other party (or the other party’s outside counsel) the opportunity to
attend and participate at such meeting or telephone call. 

  
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 (b) In the event that any Governmental Authority asserts any objections, issues or concerns,
whether directly to Purchaser or Seller or any of their Affiliates or indirectly through counsel, with respect to the Transaction under any Antitrust Law or if any Action is instituted (or threatened to be instituted) by any competent Governmental
Authority challenging the Transaction, imposing any commitments or remedies under Antitrust Law with respect to the Transaction or the operation of the Seller Transferred Business or the business of Purchaser, Seller and Purchaser undertake to
resolve any such objections, issues, concerns or Actions (or threatened Actions) in accordance with, and to otherwise comply with, Exhibit 6.4(b). 

(c) This Section 6.4 shall not apply to any filings made by Seller and its Affiliates and Comfort and its Affiliates with the CCS with
respect to Lion City Rentals or any of the Lion City Agreements or otherwise solely relating to Antitrust Law as it solely relates to Lion City Rentals, any Lion City Agreement or any transactions contemplated thereby. 

  
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 (d) Each of the Parties shall bear, directly and indirectly (including, for the avoidance of
doubt, through Seller’s ownership of Purchaser Series G Preference Shares), 50% of the sum of (i) the aggregate amount of reasonably incurred and documented filing fees and advisor fees (including without limitation, reasonable and
documented attorneys’ and economists’ fees and the costs of appointment of any trustees, but excluding for the avoidance of doubt any fines or financial penalties assessed on either Party or both Parties by the CCS after the Closing for
violation of Sections 75, 76, 77 or 78 of the Competition Act (Cap 50B), or by any other competent Governmental Authority in other jurisdictions for substantially similar violations under applicable Antitrust Laws, which each of the Parties shall
bear individually) incurred by Seller or Purchaser (and their respective Affiliates) after the Closing in connection with (A) any filings, notices, reports, submissions and other documents required to be filed to obtain any Required Regulatory
Approval (or any Action relating to any of the foregoing) or (B) any inquiry or investigation (whether formal or informal) by any Governmental Authority, and any Actions required by any Governmental Authority, under any applicable Antitrust Law
(the aggregate amount of such fees and expenses incurred by Purchaser and its Affiliates, the “Aggregate Purchaser Expenses”) and (ii) USD50,000; provided, that any such advisor fees and expenses incurred by Seller and
its Affiliates after the Closing shall be documented, actual out-of-pocket expenses, that the maximum amount thereof that shall count towards such sum shall equal 27.5%
of the Aggregate Purchaser Expenses, and that Seller shall receive credit for the Seller Percentage of the Aggregate Purchaser Expenses (the “Seller Expense Cap” ), but such Seller Expense Cap shall in no event be less than $300,000
(it being understood and agreed that any such advisor fees and expenses incurred by Seller and its Affiliates shall be at rates that are no more favorable to such advisors than the lowest rates otherwise charged by such advisors to Seller or any of
its Affiliates for the applicable services provided by persons of such seniority and expertise as are performing services to Seller as referred to in this Section 6.4(d), and shall not include any premium); provided, further, that
if the Parties mutually agree to jointly engage any such advisor, any amounts paid by Seller and its Affiliates to any such advisor shall not be subject to the Seller Expense Cap, unless the Parties otherwise agree. For illustrative purposes, an
example calculation is set forth in Exhibit 6.4(d). Any payments between the Parties in respect of the first sentence of this Section 6.4(d) shall be made on a quarterly basis beginning on the last Business Day of the
quarter ended June 30, 2018. The Parties undertake not to provide any incomplete, false or misleading information to any Governmental Authority in connection with the preparation and obtaining of the Transaction Regulatory Filings, or in
respect of any inquiry or investigation (whether formal or informal) by any Governmental Authority that is based on any applicable Antitrust Law with respect to the Transaction Regulatory Filings. 

Section 6.5 Purchaser Cash Balance. Within 10 Business Days after September 30, 2018, Purchaser shall cause Old Sake Parent
to transfer substantially all of its cash balances to Purchaser (other than any such cash balances that are in interest-bearing cash deposits, as long as such cash balances represent no more than 50% of the cash balances of Old Sake Parent as of
September 30, 2018). At all times prior to the time that Old Sake Parent has transferred substantially all of its cash balances to Purchaser (which cash balances from the date of this Agreement until such transfer date shall not be transferred
to any other Affiliate of Purchaser except in accordance with past practices of Old Sake Parent), Purchaser shall (i) not, without the prior written consent of Seller, liquidate, dissolve, wind-up or
dispose of Old Sake Parent (except as expressly set forth otherwise in this Agreement, including, for the avoidance of doubt, with respect to the Purchaser Restructuring and the actions set forth in Section 7.6) and (ii) cause its
Subsidiaries to fulfill any of its obligations pursuant to this Agreement to the extent necessary, including Purchaser’s obligation pursuant to Section 3.1(c)(ii) and Section 9.2. 

  
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 Section 6.6 Employee Matters. 

(a) Within seven (7) days following Closing, Seller will seek the consent of each Seller Business Employee for whom consent is required by
Applicable Law to share his or her personal data with Purchaser (and its Subsidiaries). Purchaser shall, as soon as reasonably practicable after the Closing and in any event within three (3) months after Closing (but in no event earlier than
permitted by Applicable Law), offer (or cause one of its Subsidiaries to offer) employment (pursuant to Purchaser’s customary form of offer letter) to each Seller Business Employee who is not required to consent, or has given consent, to share
his/her personal data with Purchaser (other than (A) the employees Disclosed in the email between Seller and Purchaser, dated March 25, 2018, 12:30 a.m. P.T., which information shall be anonymized for such employees (such employees, the
“Excluded Employees”), and (B) the Singapore Protected Employees) who is classified as an “employee”. If accepted by a Seller Business Employee, such offer of employment shall be effective at the Employment Transfer
Time for such Seller Business Employee who is actively at work at the applicable Employment Transfer Time, and, in the case of a Seller Business Employee who is an Inactive Seller Business Employee at the Closing or at the applicable Employment
Transfer Time that would have otherwise applied to such Inactive Seller Business Employee, effective on the date such Inactive Seller Business Employee presents himself or herself to Purchaser for active employment, so long as such date is within
six (6) months of the Closing Date (or, if such Inactive Seller Business Employee is entitled to return to work following such six (6) month period pursuant to Applicable Law, then so long as the date such Inactive Seller Business Employee
returns to active employment is within the period required by Applicable Law). For the avoidance of doubt, any Inactive Seller Business Employees who do not present themselves for active employment within the period prescribed by the preceding
sentence shall not be Continuing Employees. With respect to any foreign Seller Business Employee located in any Territory (other than the Singapore Protected Employees), Purchaser will (or will cause its Subsidiaries to) file for a relevant work
permit with the Ministry of Manpower in such Territory (or any equivalent Governmental Authority) as soon as practicable (and in accordance with Purchaser’s past practice) following the date the applicable Seller Business Employee has accepted
an offer of employment with Purchaser or any other Purchaser Group Company. The Parties agree that the employment of the Singapore Protected Employees will transfer at the Closing to the applicable Purchaser Group Company in Singapore by operation
of the Singapore Employment Act. Such offers of employment, or, in the case of the Singapore Protected Employees, continued employment, shall meet the criteria set forth in the following sentence. Purchaser shall (or shall cause one of its
Subsidiaries to) provide to each Continuing Employee an employment contract that provides, for the period commencing on each such Continuing Employee’s Employment Transfer Time and ending no earlier than the one (1) year anniversary of the
Closing (i) employment with Purchaser or one of its Subsidiaries in the city in which the Continuing Employee was employed immediately prior to Closing or, if no Purchaser Group Company maintains an office in such city, employment with
Purchaser or one of its Subsidiaries in the nearest city (in which a Purchaser Group Company maintains an office) in the same country to which the Continuing Employee was employed immediately prior to Closing, (ii) base salary and bonus
opportunity that are no less favorable in the aggregate than the base salary and bonus opportunity of such Continuing Employee immediately prior to the Closing (taking into account any Annual Raises, 2018 Bonus Opportunities and 2018 Equity Refresh
Grants, in each case, made in the course of Seller’s global annual ordinary course performance review cycle to be completed by March 31, 2018, with any equity compensation to be valued under Section 409A of the Code principles, both
for purposes of determining the value of the Continuing Employee’s bonus opportunity immediately prior to the Closing and for purposes of determining the value of any equity compensation to be offered by Purchaser), provided,
however, that the bonus opportunity may, at the discretion of Purchaser, be comprised solely of cash, solely of equity, or a combination of cash and equity, (iii) employee benefits (other than any bonus opportunity, equity or
equity-based benefits, change-in-control benefits, severance benefits, or any defined benefit pension benefits) that are substantially similar in the aggregate to those
provided under the Seller Benefit Plans Disclosed in folder 1.12 of the Seller Data Room prior to the Closing (disregarding, in the case of Seller Benefits Plans added to folder 1.12 of the Seller Data Room in the
30-day period immediately following the Closing Date, any benefits that Purchaser is not able to provide) to such Continuing Employees immediately prior to the Closing, and (iv) the severance protection
set forth on Exhibit 6.6(a)(iv) (unless such Continuing Employee is terminated for Cause). For the avoidance of doubt, any Seller Business Employee who was serving probation with Seller (or any of its Subsidiaries) as of
immediately prior to such employee’s Employment Transfer Time shall not be entitled to any severance benefits in the event such Seller Business Employee’s employment with Seller, Purchaser, or any of their Subsidiaries, as the case may be,
is terminated by reason of failing the probation evaluation as determined in good faith, which reasons for failing the probation evaluation shall be provided to Seller by Purchaser upon request by Seller (unless such disclosure is not permitted by
Applicable Law; provided, that Purchaser shall seek consent from such Seller Business Employee to disclose any information that is not permitted by Applicable Law). For purposes of eligibility to participate and vesting (but not for
purposes of level of benefits and benefit accrual, other than with respect to the determination of any vacation and severance entitlements) under any employee benefit plan in which any Continuing Employee participates following the applicable
Employment Transfer Time, Purchaser shall recognize each Continuing Employee’s period of service at the Seller or any of its Affiliates prior to the Employment Transfer Time for such Continuing Employee which shall be treated as service with
Purchaser; provided, however, that such service shall not be recognized to the extent that such recognition would result in any duplication of benefits or would be in contravention of Applicable Law. In addition, Purchaser shall use
commercially reasonable efforts to waive (or to cause its insurance carriers to waive) all limitations as to waiting periods (but not pre-existing conditions or exclusions) with respect to participation and
coverage requirements applicable to Continuing Employees under any Purchaser Benefit Plan that is a welfare benefit plan in which such Continuing Employees may be eligible to participate after the Employment Transfer Time for such Continuing
Employee (unless such limitations are not waivable and apply to all employees of Purchaser and its Subsidiaries) and provide each Continuing Employee with credit for any co-payments and deductibles paid during
the plan year in which the Employment Transfer Time for such Continuing Employee occurs (or, if later, the year in which the applicable Continuing Employee is first eligible to participate in the applicable Purchaser Benefit Plan) in satisfying any
applicable deductible or out-of-pocket requirements under any Purchaser Benefit Plans that are welfare plans in which such Continuing Employee is eligible to participate
after the Employment Transfer Time for such Continuing Employee, in each case, to the extent such expenses would have been credited under the Seller Benefit Plan in which such Continuing Employee participated immediately prior to the Closing. Solely
with respect to the Purchaser Restricted Stock Units and Purchaser Share Options issued by Purchaser to a Continuing Employee at the Employment Transfer Time for such Continuing Employee pursuant to Section 2.2(b) and Section 2.2(c),
Purchaser agrees not to amend or replace in any manner adverse to such Continuing Employee (without the Continuing Employee’s consent and other than as necessary to comply with Applicable Law) the vesting terms of any Purchaser Restricted Stock
Unit or Purchaser Share Option, including such vesting terms as may be contained in the award agreement with respect to any such Purchaser Restricted Stock Unit or Purchaser Share Option and the Purchaser plan or governing document with respect to
such Purchaser Restricted Stock Unit or Purchaser Share Option (which, for the avoidance of doubt, shall provide that if any such Continuing Employee is terminated by the applicable Purchaser Group Company without “Cause” (as defined in
the Purchaser Share Incentive Plan) prior to the one-year anniversary of such Continuing Employee’s original vesting commencement date with the applicable Local Support Company, such Continuing Employee
shall receive acceleration of time vesting such that such Continuing Employee receives vesting credit for every month of continuous service with the Purchaser Group Companies beginning with such Continuing Employee’s Employment Transfer Time);
all other terms of the Purchaser Restricted Stock Units and Purchaser Share Options issued by Purchaser to a Continuing Employee at the Employment Transfer Time for such Continuing Employee pursuant to Section 2.2(b) and Section 2.2(c)
shall be in accordance with the form of award agreement for the Purchaser Restricted Stock Units and the form of award agreement for the Purchaser Share Options attached hereto as Exhibits 6.6(a)(i) and (ii),
respectively, and otherwise shall be subject to the terms and conditions of the Purchaser Share Incentive Plan. For clarity and purposes of this Section 6.6, employees to whom offers are required to be made under this Section 6.6(a) shall
include any individuals who received and accepted an offer of employment from a Local Support Company prior to the Closing but had not yet begun employment at such Local Support Company as of the Closing, as Disclosed in the email between Seller and
Purchaser, dated March 25, 2018, 12:30 a.m. P.T., which information shall be anonymized for any Seller Business Employees for whom consent to share such data has not been obtained as required under Applicable Law as of such date and time (with
the anonymized information of such Seller Business Employees to be provided promptly after Seller obtains such consents), so long as they present themselves for active employment by the last Employee Services Expiration Date that applies in the
jurisdiction which relates to them. 

  
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 (b) Except as set forth in Section 6.6(c) and except as provided in the Transition
Services Agreement, Seller shall bear the expense of and responsibility for all Liabilities arising from claims by the Continuing Employees for benefits attributable to periods prior to the Closing Date under the Seller Benefit Plans, and Purchaser
shall bear the expense of and responsibility for all Liabilities arising from claims by Continuing Employees for benefits attributable to periods on or after the Employment Transfer Time under the Purchaser Benefit Plans. 

(c) Certain cost allocations. 

(i) Purchaser shall be responsible for, and shall reimburse Seller for, any costs and Liabilities in connection with employment
and benefit plan matters (A) that relate to the transfer and/or termination of employment of the Seller Business Employees following the Closing, and (B) that relate to the direct transfer to Purchaser or its Affiliates of the Local
Acquired Assets rather than the capital stock of the Local Support Companies that Seller would not have otherwise incurred had the equity of the Local Support Companies been transferred to Purchaser or its Affiliates, including, for the avoidance of
doubt, any repatriation costs for any Seller Business Employees to the extent required under the terms of a Seller Benefit Plan or Applicable Law; provided, however, that in no case shall Purchaser be liable for or with respect to, and
Seller (and its Affiliates) shall be responsible for or with respect to (I) the Vested Seller Parent Share Awards, (II) any costs and Liabilities that relate to the Excluded Employees, (III) the Seller Retained Severance Costs (as
such term is defined below), (IV) any Excluded Liabilities, (V) any costs and Liabilities that relate to a breach or inaccuracy of any of the representations of Seller contained in Section 4.16, (VI) any Liabilities relating to any
employee benefit plan, program, policy, Contract or other arrangement, or any employment, indemnification, consulting, severance, retention, or stay-bonus agreement, or
change-in-control agreement, in each case, whether written or unwritten, that is or has been sponsored, maintained, contributed to or required to be contributed to by
any Local Support Company for the benefit of any Former Seller Business Employee (as such term is defined below) or, his/her beneficiaries or dependents, other than Liabilities under any Transferred Statutory Plans that are Assumed Liabilities,
(VII) any Liabilities relating to the employment or engagement of, or termination of employment or engagement of, any Former Seller Business Employee, and (VIII) any Seller Benefit Plan other than any (A) Transferred Statutory Plans
(other than as they relate to any Excluded Employee) that are Assumed Liabilities or (B) any Seller Benefit Plan providing repatriation benefits. “Former Seller Business Employee” means any individual who was an employee of a
Local Support Company and Related to the Seller Business but was no longer employed by Seller (or its Affiliates) as of immediately prior to the Closing Date. 

  
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 (ii) In the event that a Seller Business Employee to whom an offer of
employment is required to be made pursuant to Section 6.6(a) (A) does not accept Purchaser’s offer of employment, (B) does not receive an offer of employment from Purchaser within three (3) months following the Closing Date,
or (C) accepts Purchaser’s offer of employment but is unable (due to circumstances beyond the relevant employee’s control) to start employment with Purchaser by the Transition Period Outside End Date applicable to such Seller Business
Employee, and, in each case, such Seller Business Employee is terminated by or resigns from Seller (or the applicable Affiliate of Seller) following the Closing, Seller shall be responsible for the severance costs payable to such individual;
provided, however, that Purchaser shall, promptly upon the written request of Seller after the Closing, reimburse Seller for severance for each such Seller Business Employee in an amount equal to up to three (3) months’ base
salary; provided, further, however, that if a Seller Business Employee declines an offer of employment made within three (3) months of the Closing Date that meets the criteria set forth in the eighth sentence of
Section 6.6(a), Purchaser shall not be required to reimburse Seller for severance in an amount in excess of the minimum severance required by Applicable Law (the costs Seller is responsible for pursuant to this Section 6.6(c)(ii) that are
not reimbursable by Purchaser pursuant to this Section 6.6(c)(ii), the “Seller Retained Severance Costs”). 

(iii) Seller shall be responsible for, all costs and Liabilities in connection with employment and benefit plan matters
(including but not limited to severance) that relate to the Excluded Employees. 

  
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 (d) For a period of sixty (60) days after the three (3) month anniversary of the
Closing, Seller shall, and shall cause the Local Support Companies to, meet with all Excluded Employees (other than such Excluded Employees that, at such time, are no longer employees of any Local Support Company or have, prior to such time,
relocated to a country outside of the Territories) to determine if they have interest in becoming employees of the Purchaser Group Companies and to facilitate an introduction to representatives of the Purchaser Group Companies to discuss potential
employment with the Purchaser Group Companies; provided, however, that for the avoidance of doubt, the Purchaser Group Companies shall not initiate contact or solicit, in each case for the purposes of employment or hire, any Excluded
Employee unless and until Seller (or a Local Support Company) has first met with such Excluded Employee, and such Excluded Employee has agreed to meet with representatives of the Purchaser Group Companies. 

(e) Prior to the Employee Services Expiration Date for a Seller Business Employee, Purchaser and Seller agree to consult with each other, and
to consider in good faith the advice of such other Party, prior to initiating any communication plan or strategy directed to employees or other service providers regarding the Transaction. Purchaser and Seller shall provide to such other Party a
draft of any proposed notice, document or other employee communication and a reasonable period of time (and no less than seventy-two (72) hours) for review and comment, and shall consider in good faith
the comments of such other Party, and shall provide such Party with a final copy in advance of any distribution. 
 (f) The Purchaser agrees
to provide, or request Seller to provide on its behalf, any required notice under, and otherwise comply with, any non-U.S. Applicable Law that is similar to the Worker Adjustment Retraining and Notification
Act of 1988, with respect to any “plant closing” or “mass layoff” or group termination or similar event affecting Continuing Employees and occurring on or after the Closing Date. The Seller agrees to provide any required notice
under, and otherwise comply with, any non-U.S. Applicable Law that is similar to the Worker Adjustment Retraining and Notification Act of 1988, with respect to any “plant closing” or “mass
layoff” or group termination or similar event affecting Seller Business Employees and occurring prior to the Closing Date. 
 (g) Except
with respect to the 2018 Equity Refresh Grants, prior to the Employment Transfer Time for a Seller Business Employee, Seller shall not, and shall cause its Subsidiaries (including the Local Support Companies) and Seller Parent, not to, directly or
indirectly, with respect to any Seller Business Employees, grant, modify or amend any Seller Parent Share Awards or equity or equity-based awards that may be settled in Equity Securities of Seller Parent, Seller, or any of their Subsidiaries
(including the Local Support Companies). 

  
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 (h) Nothing in this Section 6.6 (i) shall confer upon any other Person, including
without limitation any Seller Business Employee, any right, benefit or remedy under this Agreement, including any right to continued employment, and no Seller Business Employee shall be a third-party beneficiary of this Section 6.6, or
(ii) shall be construed to establish, amend or modify any benefit plan, program, agreement or arrangement. 
 (i) Seller shall, and
shall procure that each Local Support Company shall, waive any restrictive covenant binding upon any Seller Business Employee that restricts or prohibits any Seller Business Employee from becoming a Continuing Employee. 

(j) Notwithstanding any other provision of this Section 6.6, if a Seller Business Employee for whom consent to share personal data with
Purchaser is required under Applicable Law does not provide such consent to Seller within seven (7) days of Closing, Purchaser shall not be required to offer employment to such Seller Business Employee under Section 6.6(a) and
Purchaser’s sole responsibility shall be to reimburse Seller for the minimum severance, if any, required by Applicable Law and Seller shall (unless otherwise agreed with Purchaser in good faith) terminate such Seller Business Employee. 

(k) Neither Seller nor any of its Affiliates (including the Local Support Companies) shall directly or indirectly induce or encourage any
Seller Business Employee to decline an offer of employment with Purchaser (or its Subsidiaries). 
 (l) Seller and Purchaser each agree that
in order to facilitate a smooth transition and business continuity during the period beginning on the Closing Date and ending on the three (3) month anniversary thereof (the “Designated Transition Period” ) (i) certain
designated Seller Business Employees (as mutually agreed upon by Seller and Purchaser in good faith) (the “Designated Transition Employees”) shall be eligible to receive an Incentive Payment payable by Purchaser and
(ii) certain Excluded Employees (as determined by Seller) shall be eligible to receive an Incentive Payment payable by Seller. The Parties shall discuss in good faith during the Designated Transition Period the structure, amount and timing of
payout for the Incentive Payment as well as any changes to the list of Designated Transition Employees. 

  
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 Section 6.7 Post-Closing Cooperation. 

(a) Upon the written notice of Purchaser from time to time, that financial statements relating to the Seller Transferred Business are required
under Applicable Law or any rules or regulations thereunder, to be included in a registration statement (or similar securities laws filing under Applicable Law) or periodic report of Purchaser and its Affiliates, Seller shall, and shall cause its
Affiliates to, as promptly as reasonably practicable (but in no event earlier than one hundred and twenty (120) days after any such notice, or later than one hundred and eighty (180) days after any such notice), provide Purchaser with such
financial statements as may be required under such Applicable Law, rule or regulation, together with customary opinions of independent public accountants thereon and consents of independent public accountants for inclusion in any such registration
statement or periodic report as required by such Applicable Laws or the rules or regulations thereunder. Purchaser will reimburse Seller for all of its reasonable and documented internal costs (so long as such costs involve only the actual costs for
the employees utilized to perform the accounting work, without any overhead allocation) and the reasonable and documented costs and expenses of Seller’s independent auditors and other third party service providers, in each case to the extent
incurred in complying with this Section 6.7(a), provided, that, in the case of the reimbursement of such costs and expenses of Seller’s independent auditors and third party service providers, the requirements of the following
sentences have been satisfied. Seller’s independent auditors must be a major international accounting firm of independent certified public accountants and charge on an hourly basis at rates that are no more favorable to such auditors than the
lowest rates otherwise charged by such auditors to Seller or any of its Affiliates for the applicable services provided by persons of such seniority and expertise as are performing services to Seller under this Section 6.7(a), and shall not
include any premium. Such third party service providers shall charge at rates that are no more favorable to such third party service providers than the lowest rates otherwise charged by such third party service providers to Seller or any of its
Affiliates for the applicable services, and shall not include any premium. Notwithstanding the foregoing, prior to giving any notice pursuant to this Section 6.7(a), Purchaser shall, in consultation with Seller, for a period of at least two
(2) weeks, use commercially reasonable efforts to obtain a waiver from the applicable Governmental Authority with respect to such financial statements relating to the Seller Transferred Business such that Purchaser would not be required to file
them in connection with any such registration statement or periodic report and Purchaser shall provide copies to Seller of all communications with respect to such waiver request. 

(b) For a period of thirty-six (36) months after the Closing, Seller shall, upon Purchaser’s
reasonable request from time to time, provide copies of confidential communications made prior to Closing between Seller and its Affiliates, on the one hand, and any external legal counsel, on the other, to the extent Related to the Seller
Transferred Business. For the avoidance of doubt, Seller shall not provide any such communication that (i) relates in any way to the Transaction or any Transaction Documents, (ii) based on advice of Seller’s outside legal counsel,
would or would reasonably be expected to create any potential Liability under Applicable Law, including Antitrust Laws, or would result in the loss of any legal attorney client privilege, or (iii) relates to any consolidated, combined or
unitary Tax Return filed by Seller or any of its Affiliates or predecessor entities. Any such review shall be subject to the provisions of the Regulatory Clean Team Agreement, the Due Diligence Clean Team Agreement and the Mutual NDA, except in any
Dispute or other court or arbitration proceedings between Seller and or any of its Affiliates, on the one hand, and Purchaser or any of its Affiliates, on the other hand, provided, that any Party disclosing any Confidential Information of the
other Party pursuant to this sentence shall use reasonable best efforts to maintain the confidentiality of or pursue confidential treatment of such Confidential Information to the fullest extent permitted by Applicable Law or the rules or procedures
of any applicable court or arbitral venue (it being understood and agreed that nothing herein shall require any Party disclosing any Confidential Information of the other Party pursuant to this penultimate sentence of this Section 6.7(b) to
obtain the other Party’s prior written consent with respect to, or otherwise to notify the other Party of, such disclosure). Any disclosure pursuant to this Section 6.7(b) is subject always to compliance with Applicable Law, including
Antitrust Laws. 

  
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 (c) During the thirty (30) days after the Closing, in each case prioritized by revenue
generated from the respective U4B customers, Seller agrees to provide email notifications (in a form reasonably agreed between Purchaser and Seller but in any case such notifications will request that the U4B customers give consent for Seller to
share the customer’s contact information with Purchaser or, at the direction of Purchaser, any other Purchaser Group Company) to U4B customers that are based in and conduct their business primarily in the Territories in order to assist
Purchaser with any transition of such customers to Purchaser’s enterprise platform. Promptly upon any U4B customer consenting to Seller sharing such customer’s contact information with Purchaser or any other Purchaser Group Company, Seller
shall share such information with Purchaser or such other Purchaser Group Company. 
 (d) As soon as reasonably practicable following the
Closing (but in any event within fifteen (15) Business Days following the Closing), Seller will contribute the Uni EATS Assets and Uni EATS Liabilities to a newly formed Subsidiary organized under the laws of The Netherlands owned by Seller.
Following such contribution, Seller shall cause such Subsidiary to transfer, assign, convey and deliver for no additional consideration (subject to, for the avoidance of doubt, the representations and warranties set forth in Article IV) pursuant to
the form of Bill of Sale attached as Exhibit 6.7(d), the Uni EATS Assets and Uni EATS Liabilities to Purchaser, free and clear of all Encumbrances other than Permitted Encumbrances, upon five (5) Business Days’ notice by Purchaser.
Thereafter, until the Food Delivery Business Cutover (as such term is defined in Schedule 2 of the Transition Services Agreement), Seller shall, and shall cause its Affiliates to, provide such services with respect to the Uni EATS Assets as set
forth in Schedule 2 of the Transition Services Agreement. 
 Section 6.8
Non-Competition. 
 (a) Seller hereby irrevocably and unconditionally agrees and undertakes to
Purchaser that for the longer of (i) the five (5) year anniversary of the Uni Completion, and (ii) one (1) year after the date on which neither Seller nor any of its Affiliates is the legal or beneficial holder of any Shares (such
period being the “Uni Prescribed Period”), it will not, and it will procure and ensure that its Affiliates will not, without the prior written consent of Purchaser, directly or indirectly, anywhere in the Uni Territories: 

(i) other than with the Group, engage or participate in, or render services to or otherwise support (including, in the capacity
as an owner, business operator, manager, consultant, director, equityholder or strategic partner) any person or business that is competitive with the Uni Restricted Business; or 

  
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 (ii) other than with the Group, in relation to any trade, business or
company, use any name in such a way as to be capable of or likely to be confused with the name of the Company and/or any other Group Company. 

(b) Notwithstanding anything herein to the contrary, neither Uni nor any of its Affiliates shall be in breach of this Section 6.8 as a
result of any action taken by an Uni Passive Investee Company or its Affiliates during any period in which such Uni Passive Investee Company is or remains a Passive Investment. 

(c) For the avoidance of doubt, nothing contained in this Section 6.8 shall prevent Uni or any of its Affiliates from: (x) outside
the Uni Territories, engaging or participating in business relationships with, rendering services to or otherwise supporting, any person or business that is not an Affiliate of Seller, even if such person or business is competitive with the Uni
Restricted Business, or provides products, services or support to persons competitive with the Uni Restricted Business, so long as Seller’s or its Affiliates’ engagement, participation or services with such person does not directly support
or directly assist such person to compete with the Uni Restricted Business in the Uni Territories; or (y) operating or conducting support service and other similar operations, or maintaining offices and/or employing persons, located in the Uni
Territories that provide services to, manage or otherwise support the business of Seller and its Affiliates operated solely outside the Uni Territories. For the avoidance of doubt, the commercial use by any individual who is an Affiliate or employee
or agent of Seller or any of its Affiliates as a consumer of a publicly-available service or product competitive with the Uni Restricted Business will not (to the extent such service or product is obtained on the same terms as those generally
available to the public) be deemed a violation of this Section 6.8. 
 (d) Notwithstanding anything to the contrary contained herein, if
an employee or contractor of Uni Parent or any of its Affiliates (but not any director of Uni Parent, the CEO of Uni Parent or any direct report of the CEO of Uni Parent), acting in an individual capacity and not at the direction of Uni Parent or
any of its Affiliates, takes any action that violates this Section 6.8, such action shall not constitute a breach by Seller or its Affiliates of this Section 6.8, provided, that Seller or its Affiliates takes action to promptly stop
such action, and is successful in completely stopping such action, upon the earlier of (i) notice of such action to Seller or its Affiliates by Purchaser, and (ii) learning of such action by the employee or contractor of Uni Parent or any
of its Affiliates who has been acting in such individual capacity. 
 (e) Upon any change of Control or acquisition of all or substantially
all of the assets of Uni Parent (or its successor or ultimate parent company) in which the acquirer is not (x) an Affiliate of Uni Parent or (y) a Shareholder of Purchaser that has a noncompete agreement with Purchaser as of the date of
this Agreement, which Shareholder is set forth on Exhibit C to the Shareholders Agreement, the acquirer and its Affiliates will not be subject to this Section 6.8 with respect to any portion of the business of the acquirer and its Affiliates
(other than Uni Parent and its Affiliates as they exist immediately prior to the consummation of such change of Control). In the event that the acquirer and its Affiliates (other than Uni Parent and its Affiliates as they exist immediately prior to
the consummation of such change of Control) at any time during the Uni Prescribed Period conduct business that, if conducted by Seller, would violate this Section 6.8, then Purchaser shall have the right, in its sole discretion (without
limiting any other remedies it may have), to cause Seller (or such acquirer) to lose its rights to (i) appoint a director pursuant to Clause 5.1 of the Shareholders Agreement; (ii) appoint a board observer pursuant to Clause 5.3 of the
Shareholders Agreement; and (iii) information and inspection pursuant to Clause 8.1 of the Shareholders Agreement. 

  
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 (f) For the avoidance of doubt, (A) any actions that are required or permitted pursuant
to the terms of (i) the Transition Services Agreement (ii) Sections 1.6, 1.7, 1.8, 1.9, 6.1, 6.4, 6.6, 6.7, 6.9 and 6.10 of this Agreement and any exhibits to such Sections, (B) any products, services or support Seller or any of its
Affiliates provides to any person to the extent required by or agreed to by Seller and Purchaser in connection with any review by any Governmental Authority of the transactions contemplated by the Purchase Agreement and (C)(1) the operation of
Viet Car Rental Company Limited in Vietnam, including any subsequent wind-down or dissolution thereof, and the operation of Lion City Rentals in Singapore in accordance with Section 6.1, in each case as a leasing/rental car business, and
(2) compliance with the terms of the Lion City Agreements (other than the Collaboration Agreement), as in effect on (or included as an exhibit to as of), and provided to Purchaser prior to, the date of this Agreement, shall in each case not
breach the terms of this Section 6.8. The following actions in respect of the Collaboration Agreement shall not be a breach of this Section 6.8: (i) winding down of the performance by Seller and its Affiliates under the Collaboration
Agreement during the period in which Seller or any of its Affiliates are performing the services contemplated by Schedules 1, 2 and 3 to the Transition Services Agreement (as the term may be extended pursuant to the Transition Services Agreement) or
(ii) compliance with the terms of the Collaboration Agreement to the extent (and for so long as) Seller or any of its Affiliates is required to comply with the terms of the Collaboration Agreement pursuant to a Governmental Order. 

(g) All capitalized terms used in this Section 6.8 (other than Seller and Purchaser) shall have the meanings ascribed to them in the
Shareholders Agreement. 
 Section 6.9 Non-Solicitation. 

(a) Seller shall not, and shall cause its Affiliates not to, for a period from the Closing Date until the second anniversary of the Closing
Date, or in the case of subclause (iii), the second anniversary of the date an Excluded Employee becomes employed by a Purchaser Group Company in accordance with Section 6.6(d), without the prior written consent of Purchaser (which consent may
be withheld for any reason), directly or indirectly solicit for employment or hire any (i) Seller Business Employee, (ii) member of senior management or any employee of Purchaser or its Affiliates with whom Seller or its Affiliates have
come into contact with or received information with respect to in connection with the Transaction, or (iii) any Excluded Employee who becomes employed by any Purchaser Group Company after the Closing in accordance with Section 6.6(d) (the
“Purchaser Prohibited Employees”) or directly or indirectly induce or knowingly or purposefully encourage any Purchaser Prohibited Employee to no longer be employed by Purchaser or any of its Affiliates. 

  
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 (b) Purchaser shall not, and shall cause its Affiliates not to, for a period from the
Closing Date until the second anniversary of the Closing Date, without the prior written consent of Seller (which consent may be withheld for any reason), directly or indirectly solicit for employment or hire any (i) Excluded Employee (except
in accordance with Section 6.6(d)), or any employee of Lion City Rentals or (ii) member of senior management or any employee of Seller or its Affiliates with whom Purchaser or its Affiliates have come into contact with or received
information with respect to in connection with the Transaction (the “Seller Prohibited Employees”) or directly or indirectly induce or knowingly or purposefully encourage any Seller Prohibited Employee to no longer be employed by
Seller or any of its Affiliates. 
 (c) Nothing in this Section 6.9 shall prevent Seller and its Affiliates or Purchaser and its
Affiliates, as the case may be, from (i) soliciting or hiring a Purchaser Prohibited Employee or Seller Prohibited Employee after the second anniversary of the Closing Date, or in the case of Section 6.9(a) (iii), the second anniversary of
the date an Excluded Employee becomes employed by a Purchaser Group Company in accordance with Section 6.6(d), (ii) placing or sponsoring any general solicitations for employment (whether through the use of placement agencies or otherwise) that
are not specifically directed at the employees of the other party and its Affiliates, (iii) responding to (but not hiring) a Purchaser Prohibited Employee or Seller Prohibited Employee who contacts it as a result of a solicitation covered by
clause (ii) or at his or her own initiative without the prior direct or indirect encouragement or solicitation by it or its Affiliates, or (iv) soliciting in a manner that would otherwise be prohibited by this Section 6.9, or hiring,
a Purchaser Prohibited Employee or Seller Prohibited Employee after the Standstill Date (as such term is defined below) for such employee. The “Standstill Date” shall be: (i) in the case of a Purchaser Prohibited Employee
(other than any Excluded Employee who becomes employed by any Purchaser Group Company after the Closing in accordance with Section 6.6(d)), thirty (30) days after the later of (X) the termination of such employee’s employment
with any Purchaser Group Company, or (Y) the Transition Period Outside End Date applicable to such Seller Business Employee; (ii) in the case of an Excluded Employee who becomes employed by any Purchaser Group Company after the Closing in
accordance with Section 6.6(d), ninety (90) days after termination of such employee’s employment with any Purchaser Group Company; or (iii) in the case of a Seller Prohibited Employee, thirty (30) days after termination of
such employee’s employment with Seller or its Affiliates. The soliciting or hiring by Seller or any of its Affiliates of a Purchaser Prohibited Employee shall be permitted under clause (iv) above only for employment outside of the
Territories; provided, that Seller and its Affiliates may, in accordance with Section 6.8 and this Section 6.9, hire such Purchaser Prohibited Employee initially in Singapore for a period of no more than 6 months. 

(d) The parties agree that any remedy at law for any breach by Purchaser or Seller or any of their respective Affiliates of this
Section 6.9 would be inadequate, and that other party would be entitled to injunctive relief in such a case. If it is ever held that this restriction on Purchaser or Seller is too onerous and is not necessary for the protection of the other
party, each of Purchaser and Seller agrees that any court of competent jurisdiction may impose such lesser restrictions which such court may consider to be necessary or appropriate properly to protect the other party. 

  
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 (e) Other than with respect to specifically negotiated individualized restrictive covenants,
each Party shall, and shall procure that each of its Affiliates shall, waive for a period from the Closing Date until the second anniversary of the Closing Date any restrictive covenant binding upon any employee (or former employee) of such Party
(or its respective Affiliates) that restricts or prohibits any such employee from becoming an employee of the other Party (but, for the avoidance of doubt, such waiver need not allow any such employee to become an employee of any other third party),
as long as the Party that is soliciting or hiring such employee has solicited or hired such employee (or former employee) in compliance with this Section 6.9. 

Section 6.10 2017 Bonuses and 2018 Equity Refresh Grants. On or around March 31, 2018 (or such other date to be
mutually agreed between the Parties): 
 (a) Seller shall: 

(i) pay or cause to be paid by its Affiliates (and, notwithstanding anything herein to the contrary, Purchaser shall have no
obligation or Liability in respect of) the 2017 Bonuses to the applicable Seller Business Employees (whether or not such employee is at such time a Continuing Employee employed by Purchaser or any of its Subsidiaries, or is employed by Seller or any
of its Subsidiaries); provided, however, that notwithstanding the foregoing, if Seller is unable to pay such 2017 Bonuses due to Applicable Law or any other commercially reasonable reason, Purchaser shall pay or cause to be paid such
2017 Bonuses and shall be promptly reimbursed by Seller for such 2017 Bonuses and any associated employer payroll Tax, Social Insurance or other related amounts; 

(ii) cause Seller Parent to grant to Seller Business Employees that have not yet become Continuing Employees at such time, such
Seller Business Employee’s 2018 Equity Refresh Grants (which shall be subject to the applicable provisions of Section 2.2 and Section 2.4 applied mutatis mutandis) 

(b) Purchaser shall grant, at Seller’s written instruction, to the applicable Seller Business Employees that have become Continuing
Employees at such time, any Purchaser Restricted Stock Units and Purchaser Share Options that are part of the 2018 Equity Refresh Grants (together with the grants under Section 6.10(a)(ii), not to exceed the corresponding number of Purchaser
Series G Preference Shares determined in accordance with clause (iv) of the first sentence of Section 2.1), subject to the applicable provisions of Section 2.4. 

  
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 Section 6.11 Covenant Not to Sue; Release 

(a) Seller, on behalf of itself and its Affiliates, and their respective officers, directors, employees, managing members, successors and
assigns (collectively, the “Seller Parties”), agree and covenant, during the Covenant Period (as defined below), not to sue or assist any other Person to sue, assert or file any claim, action, demand, suit, proceeding or other
Action (including any demand for consideration) against any Covered Entity (as defined below) or any of its Related Entities (as defined below) (the Covered Entities and Related Entities, collectively, the “Purchaser Parties”)
asserting that any of the Purchaser Parties’ activities constituting or related to: (x) the Business (as defined in the Shareholders Agreement as of the Closing Date with such changes to the definition of Business as are contained in any
amendment to such Shareholders Agreement or any new shareholders agreement that have been approved in writing by Seller or its Affiliates) (the Business, as amended, the “Designated Business”) in the Territories before or after the
Closing Date infringe or misappropriate, as the case may be, any Patents owned or controlled, in whole or part, by Seller or any of its Affiliates in the Territories as of the Closing Date (or Patents that subsequently issue therefrom or claim
priority thereto after the Closing Date), including, but not limited to, any of the Patents listed on Exhibit 6.11(a) (collectively the “Current Patents”); (y) the Uni Restricted Business (as defined in the Shareholders
Agreement) or the Designated Business, but solely to the extent directly relating to the ride-hailing business of Purchaser and its Affiliates as it exists as of the Closing Date, including as such ride-hailing business may organically grow and
change after the Closing Date, excluding any activity unrelated thereto (e.g., development or use of self-driving and/or autonomous technology, etc.) (together with the Uni Restricted Business, collectively, the “Ride-Hailing
Business”) infringe or misappropriate, as the case may be, any Patents (i) first applied for or filed by or on behalf of Seller or its Affiliates in the Territories after the Closing Date or (ii) which become owned or controlled, in whole
or part, by Seller or its Affiliates in the Territories at any time after the Closing Date (collectively, the “New Patents”, and together with the Current Patents, collectively, the “Territory Patents”); or (z) the
Designated Business in the Territories before or after the Closing Date infringe or misappropriate, as the case may be, any Residuals (as defined below) (such covenant, the “Covenant Not to Sue”). Seller shall cause the Covenant Not
to Sue to be binding upon (y) any Person who holds or later acquires any right, title or interest in or to the Territory Patents or Residuals, including, but not limited to, any right to enforce, file or assert any claim, action, demand, suit,
proceeding or other Action (including any demand for consideration) with respect to the Territory Patents or Residuals and (z) all exclusive licensees of the Territory Patents or Residuals. 

(b) From and after a Change in Control of a Covered Entity, the Covenant Not to Sue shall apply to the business of such Covered Entity, its
Affiliates and Related Entities, but only as such Covered Entity and its Affiliates exist immediately prior to the consummation of such Change in Control, and shall not apply to any portion of the business of the Acquiring Entity in such Change in
Control or any Affiliates of such Acquiring Entity (other than such Covered Entity and its Affiliates as they existed as of immediately prior to the consummation of such Change in Control) and their respective Related Entities. 

  
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 (c) For purposes of the Covenant Not to Sue, “Related Entities” means any
and all driver partners, passengers, delivery partners, suppliers, vendors, restaurants, customers, end users, independent contractors, riders, lessees, licensees, service providers and similar Persons which, directly or indirectly, at any time
during the Covenant Period (i) have used, made, sold or imported any products or services (pursuant to a commercial or consumer relationship) related to the Designated Business or Ride-Hailing Business, as applicable, in the Territories or
(ii) have engaged in supporting, marketing, providing or receiving any products and services (pursuant to a commercial or consumer relationship) related to the Designated Business or Ride-Hailing Business, as applicable, in the Territories, it
being agreed that any such parties’ conduct that is unrelated to the Designated Business or Ride-Hailing Business, as applicable, (i.e., providing products or services exploiting the Territory Patents unrelated to the Designated Business or
Ride-Hailing Business, as applicable, or the conduct thereof) shall not be covered by the Covenant Not to Sue (and in such case such parties will not be deemed “Related Entities” solely as it pertains to such parties’ conduct that is
unrelated to the Designated Business or Ride-Hailing Business, as applicable, but shall otherwise remain “Related Entities” and covered by the Covenant Not to Sue with respect to other conduct (pursuant to a commercial or consumer
relationship) that is related to the Designated Business or Ride-Hailing Business, as applicable); “Covered Entity” means (i) Purchaser, (ii) any Affiliate of Purchaser in existence on the Closing Date, and (iii) any
Person who becomes an Affiliate of Purchaser after the Closing Date; “Change in Control” means (i) a sale, transfer or other disposition of all or substantially all assets of the Purchaser Group Companies taken as a whole or
(ii) any transaction or series of related transactions involving Purchaser (including any consolidation, merger, business combination, recapitalization, issuance or sale of shares) in which the shares of capital stock of Purchaser outstanding
immediately prior to such transaction represent, or are converted into or exchanged for shares of capital stock that represent, immediately following such transaction, less than 50%, by voting power, of the capital stock of (x) Purchaser, (y)
the surviving or resulting entity, or (z) if the surviving or resulting entity is a wholly owned subsidiary of another entity immediately following such transaction, the parent of such surviving or resulting entity, as the case may be;
“Acquiring Entities” means the entity or entities (and its Affiliates as they exist immediately prior to the consummation of the Change in Control) acquiring, in a Change in Control transaction, (i) all or substantially all
assets of the Purchaser Group Companies taken as a whole, or (ii) the majority by voting power, of the capital stock of (x) Purchaser, (y) the surviving or resulting entity in such transaction, or (z) if the surviving or resulting
entity is a wholly owned subsidiary of another entity immediately following such transaction, the parent of such surviving or resulting entity, as the case may be; “Purchaser Acquisition” means (i) a sale, transfer or other
disposition to a Purchaser Group Company of any assets of any Person in connection with a sale, transfer or other disposition of an actual business, product or service or (ii) any transaction or series of related transactions (including any
consolidation, merger, business combination, recapitalization, issuance or sale of shares) in which a Purchaser Group Company (A) acquires, directly or indirectly, shares of capital stock of any Person outstanding immediately prior to such
transaction that represent, or are converted into or exchanged for shares of capital stock that represent, immediately following such transaction, more than 50%, by voting power, of the capital stock of (x) such Person, (y) the surviving
or resulting entity, or (z) if the surviving or resulting entity is a wholly owned subsidiary of another entity immediately following such transaction, the parent of such surviving or resulting entity, as the case may be, or (B) otherwise
acquires Control over such Person (for purposes of Sections 6.11(d)(A)(z) and 6.11(d)(B)(z), “Purchaser Acquisition” shall not include an acquisition of Patents in the Ride-Hailing Business issued outside of APAC which were acquired
by a Purchaser Group Company for purposes of asserting same against a Seller Group Company outside of APAC); and “Residuals” means any general ideas, concepts, know-how, methodologies,
processes or techniques retained solely in the unaided mental impressions (without intentional memorization of any written, electronic or other fixed embodiment thereof) of the personnel of the Purchaser Parties that Seller or its Affiliates,
individually or jointly, disclosed in connection with the operation of the business of, or otherwise during the time such personnel was employed by, Seller and its Affiliates. 

  
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 (d) Notwithstanding anything to the contrary contained in this Agreement, the Covenant Not
to Sue shall commence on the Closing Date and continue until its expiration, which expiration: 
 (A) solely with respect to
the Current Patents, shall occur (automatically, with no further action required by Seller) upon the earlier of (i) the expiration of the last to expire of the Current Patents or (ii) the filing or assertion by Purchaser or any of its
controlled Affiliates of any claim, action, demand, suit, proceeding or other Action against Seller or any of its Affiliates outside of the countries of Asia and Oceania as defined in the Oxford English Dictionary (“APAC”) alleging
infringement by Seller or any of its Affiliates of any Patents owned or controlled, in whole or in part, by Purchaser or its Affiliates outside of APAC; provided, however, that subsection (ii) above shall not apply with respect to
any claim, action, demand, suit, proceeding or other Action (or right to assert same) against Seller or any of its Affiliates outside of APAC held, filed or asserted (y) prior to a Change in Control by any Acquiring Entity or (z) prior to
a Purchaser Acquisition by any Person that is or becomes subject to such Purchaser Acquisition (which transaction does not, for the avoidance of doubt, constitute a Change in Control); 

(B) solely with respect to the New Patents, shall occur (automatically, with no further action required by Seller) upon the
earlier of (i) the expiration or termination of Seller’s non-competition obligations set forth in Section 6.8 of this Agreement, (ii) the expiration of the last to expire of the New Patents
or (iii) the filing or assertion by Purchaser or any of its controlled Affiliates of any claim, action, demand, suit, proceeding or other Action against Seller or any of its Affiliates outside of APAC alleging infringement by Seller or any of
its Affiliates of any Patents owned or controlled, in whole or in part, by Purchaser or its Affiliates outside of APAC; provided, however, that subsection (iii) above shall not apply with respect to any claim, action, demand,
suit, proceeding or other Action (or right to assert same) against Seller or any of its Affiliates outside of APAC held, filed or asserted (y) prior to a Change in Control by any Acquiring Entity or (z) prior to a Purchaser Acquisition by
any Person that is or becomes subject to such Purchaser Acquisition (which transaction does not, for the avoidance of doubt, constitute a Change in Control); and 

(C) solely with respect to the Residuals, shall occur upon the expiration or loss of the proprietary or intellectual property
rights therein (subsection (A), (B) and (C) immediately above, collectively and individually, “Covenant Period”). 

  
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 (e) In exchange for consideration, the sufficiency of which is hereby acknowledged, and
intending to be legally bound, Seller, on behalf of itself and the Seller Parties, hereby releases, waives and forever discharges the Purchaser Parties and their respective shareholders, controlling persons, directors, officers, employees and agents
from any and all claims, actions, demands, suits, proceedings and other Actions (including any demand for consideration) and any Losses, whatsoever, in law or in equity of any kind, nature or description whatsoever, whether known or unknown (and if
unknown, regardless of whether knowledge of the same may have affected the decision to make this release), which now exist or which may hereafter arise based on any fact or circumstance arising or occurring on or at any time on or before the Closing
Date relating to the Territory Patents or Residuals (or any use or exploitation thereof). 
 (f) Nothing contained in this Section 6.11:
(i) shall be construed as a representation or warranty by Seller as to the ownership, validity, scope or enforceability of any Territory Patents or Residuals; or (ii) is intended to, or shall, transfer or license any Intellectual Property
(except, in the case of Territory Patents, as may be interpreted by Applicable Law or as may be required to give effect to the covenants contained in this Section 6.11) from Seller or any of its Affiliates to any Purchaser Party. 

ARTICLE VII 
 TAX MATTERS

 Section 7.1 Tax Contests. After the Closing Date, Purchaser shall notify Seller as promptly as possible but in any event
within ten (10) Business Days of the commencement of any notice of Tax deficiency, proposed Tax adjustment, Tax assessment, Tax audit, Tax examination or other administrative or court proceeding, suit, dispute or other claim with respect to
Taxes (“Tax Contest”) that could reasonably be expected to give rise to a claim for indemnity pursuant to Section 9.1(a) (as it relates to a breach of any representation or warranty set forth in Section 4.7),
Section 9.1(c) (as it relates to Taxes), Section 9.1(d) or Section 9.1(e) (as it relates to Taxes) ; provided, that the failure of Purchaser to give such notice shall not relieve the indemnifying Parties of any of their
obligations under Section 9.1(a) (as it relates to a breach of any representation or warranty set forth in Section 4.7), Section 9.1(c) (as it relates to Taxes), or Section 9.1(d) or Section 9.1(e) (as it relates to Taxes),
except to the extent the indemnifying Parties were materially prejudiced by the failure to provide such notice. Thereafter, Purchaser shall deliver to Seller, as promptly as possible but in no event later than twenty (20) Business Days after
Purchaser’s receipt thereof, copies of all relevant notices and documents (including court papers) received by Purchaser. Except as otherwise provided in the succeeding sentence, in the case of any Tax Contest that could reasonably be expected
to give rise to a claim for indemnity pursuant to Section 9.1(a) (as it relates to a breach of any representation or warranty set forth in Section 4.7), Section 9.1(c) (as it relates to Taxes), or Section 9.1(d) or
Section 9.1(e) (as it relates to Taxes), Seller (at the indemnifying Parties’ sole cost and expense) shall have the right to control the conduct of such Tax Contest and shall have the right to settle such Tax Contest; provided,
however, that (i) Purchaser may (at its own cost and expense) participate in the dispute of such Tax Contest, (ii) Seller shall not settle or compromise any Tax Contest in a manner that could be expected to adversely affect the
Seller Business or any Purchaser Group Company in a taxable period ending after the Closing Date without the written consent of Purchaser (not to be unreasonably withheld, delayed or conditioned) and (iii) Seller shall keep Purchaser timely
informed with respect to the status and nature of any such Tax Contest. In the case of any Tax Contest that could reasonably be expected to (x) give rise to a claim for indemnity pursuant to Section 9.1(a) (as it relates to a breach of any
representation or warranty set forth in Section 4.7), Section 9.1(c) (as it relates to Taxes), Section 9.1(d) or Section 9.1(e) (as it relates to Taxes), and (y) adversely affect the Tax Liability of the Seller Business or
any Purchaser Group Company in a taxable period (or portion thereof) ending after the Closing Date or to prevent the Seller Business or any Purchaser Group Company from liquidating, dissolving or otherwise ceasing to have a corporate existence (by
merger or otherwise) in any jurisdiction, Seller (at the indemnifying Parties’ sole cost and expense) and Purchaser (at its own cost) shall have the right to jointly control the conduct of such Tax Contest; provided, however, that
such Tax Contest shall not be settled or compromised without the written consent of Purchaser and Seller (not to be unreasonably withheld, delayed or conditioned). 

  
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 Section 7.2 Tax Information. Each Party or its Affiliates shall use commercially
reasonable efforts to provide the other Party or its Affiliates with any information reasonably requested by the other Party or its Affiliates in order for it to conduct a Tax Contest or file any required Tax form or Tax Return. Notwithstanding the
foregoing, each party may redact any records or information to the extent such records or information contain confidential information related to it or its Affiliates, or to their respective businesses, which is unrelated to a tax filing or tax
liability of the other Party or its Affiliates; provided, however, that Purchaser may not redact any records or other information that Seller is otherwise entitled to receive as a shareholder of Purchaser under the terms of the
Shareholders Agreement in effect from time to time. Each Party or its Affiliates shall use commercially reasonable efforts to provide to the other Party any properly completed certificates and other documentation prescribed by Applicable Law or
reasonably requested by the other Party that would eliminate or reduce the amount of any withholding Taxes or Transfer Taxes with respect to the Transaction. 

Section 7.3 Tax Refunds. In the event that any Purchaser Group Company receives, after the Closing Date, a refund of Taxes
indemnified by the Seller pursuant to Section 9.1(a) (as it relates to a breach of any representation or warranty set forth in Section 4.7), Section 9.1(c) (as it relates to Taxes), Section 9.1(d) or Section 9.1(e) (as it
relates to Taxes), Purchaser shall pay over the amount of such refund (net of any cost, expense or Tax attributable to receipt of such refund) to the appropriate indemnifying Party by wire transfer of immediately available funds within ten
(10) days of receipt. 

  
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 Section 7.4 Transfer Taxes and Liquidation Costs. 

(a) Seller shall be responsible for all excise, sales, use, goods and services, value added, transfer (including real property transfer),
stamp, documentary, filing, recordation and other similar Taxes, including penalties and interest (all such taxes, fees, charges, penalties and interest collectively, “Transfer Taxes”) incurred in connection with the consummation of
the Dutch Assignment and, if applicable, the contribution of the Remaining Lion City Interest pursuant to the Contribution Agreement, and Seller or a Seller Affiliate shall, at Seller’s expense, file all necessary Tax Returns and other
documentation with respect to all such Transfer Taxes incurred pursuant to this Section 7.4(a). Purchaser and its Affiliates shall provide any cooperation in connection therewith as reasonably requested by Seller. 

(b) Purchaser shall be responsible for all (i) Taxes set forth on Exhibit 7.4(b) (excluding any Taxes that are Excluded
Liabilities) that are attributable to or arising from the LSE Assignment and the subsequent liquidation of the Local Support Companies under local law and (ii) the
out-of-pocket costs and expenses of Seller and its Subsidiaries, including reasonable attorney and other advisor costs, incurred in connection with winding up and
liquidating the Local Support Companies after the Closing (all such Taxes, costs and expenses, collectively in clauses (i) and (ii), “Transfer and Liquidation Costs”); provided, however, that in no event shall
Purchaser be responsible for reimbursing Seller for Transfer and Liquidation Costs (including any Transfer and Liquidation Costs referred to in Section 1.6(c)) in excess of USD5,000,000. Seller shall be responsible for any Transfer and
Liquidation Costs (including any Transfer and Liquidation Costs referred to in Section 1.6(c)) in excess of USD5,000,000 and any Taxes not set forth on Exhibit 7.4(b) that are attributable to or arising from the LSE Assignment and the
subsequent liquidation of the Local Support Companies under local law. Seller or its Affiliate shall prepare or cause to be prepared, within the time and manner prescribed by Applicable Law, all necessary Tax Returns and other documentation for any
Taxes incurred in connection with the consummation of the LSE Assignment and the liquidation of the Local Support Companies under local law, and Purchaser and its Affiliates shall provide any cooperation in connection therewith as reasonably
requested by Seller. At least ten (10) Business Days prior to the due date for any such filing (including any applicable extensions), Seller or its Affiliate will deliver to Purchaser such Tax Returns for Purchaser’s review and approval
(such approval not to be unreasonably conditioned, withheld or delayed). 
 (c) Purchaser shall be responsible for all Transfer Taxes
incurred in connection with the consummation of the Purchaser Restructuring and the transfer of assets (including equity interests in the Subsidiaries of Old Sake Parent) from Old Sake Parent to Subsidiaries of Midco, and Purchaser or a Purchaser
Affiliate shall, at Purchaser’s expense, shall file all necessary Tax Returns and other documentation with respect to all such Transfer Taxes pursuant to this Section 7.4(c) and Seller and its Affiliates shall provide any cooperation in
connection therewith as reasonably requested by Purchaser. 
 Section 7.5 Section 351 Transaction. The
Parties agree that the Purchaser Restructuring and the Dutch Assignment are part of a pre-arranged plan intended to constitute an exchange described in Section 351 of the Code. 

  
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 Section 7.6 Controlled Foreign Corporations. 

(a) After Closing, except as otherwise agreed by Seller, Purchaser shall (i) form an exempted company with limited liability incorporated
under the laws of the Cayman Islands as a wholly-owned Subsidiary of Purchaser (“Midco”), (ii) transfer all of the equity interests in the directly-owned Subsidiaries of Purchaser (other than Midco) to Midco, (iii) cause
Old Sake Parent to elect, under Section 301.7701-3(a) of the Treasury Regulations, to be treated as a disregarded entity for U.S. federal income tax purposes, and (iv) at the request of Seller, cause
each non-U.S. direct or indirect wholly-owned Subsidiary of Purchaser (other than Midco), that (A) is a wholly-owned Subsidiary of Purchaser as of the Closing Date, (B) is specified by Seller, and
(C) is not classified as a per se corporation under Section 301.7701-2(b)(8) of the Treasury Regulations, to elect, under Section 301.7701-3(a) of the
Treasury Regulations, to be treated as a disregarded entity for U.S. federal income tax purposes. Seller Parent shall reimburse Purchaser or any Purchaser Group Company up to USD2,500 per electing entity of reasonable third-party costs incurred by
Purchaser or any Purchaser Group Company to in making the elections described in clauses (iii) and (iv) of this Section 7.6(a) (including reasonable third-party costs incurred in connection with applying for an employer identification
number, preparing and filing Internal Revenue Service Forms SS-4 and 8832 and determining whether an entity is eligible to be treated as a disregarded entity for U.S. federal income tax purposes). 

(b) After Closing, Purchaser shall (i) notify Seller Parent before it engages in any proposed material intercompany transaction between
two Subsidiaries of Purchaser or a Subsidiary and Purchaser (in each case, other than a transaction treated for U.S. federal income tax purposes as between two Subsidiaries that are disregarded entities and have the same regarded owner, or as
between a Subsidiary that is a disregarded entity and its regarded owner) and (ii) engage in good faith consultations with Seller Parent with respect to such proposed material intercompany transaction described in (i) and on a biannual
basis and at such other times as reasonably requested by Seller Parent regarding U.S. federal income tax planning related to the potential status of Purchaser or any Purchaser Group Company as a controlled foreign corporation as defined in the Code
(a “CFC”) and/or as a “passive foreign investment company” within the meaning of Section 1297 of the Code (a “PFIC”). Any reasonable third-party costs incurred by Purchaser or any Purchaser Group
Company as a result of such consultation shall be borne by Seller Parent. 
 ARTICLE VIII 

THE CLOSING 

Section 8.1 Closing. The Closing is taking place concurrently herewith via the remote exchange of electronic documents and
signatures. 
 Section 8.2 Seller’s Closing Deliverables. At the Closing: 

(a) Seller shall make or cause to be made the payment required under Section 3.1(c) within two (2) Business Days of Closing, if any
such payment is owed by Seller; 

  
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 (b) Seller shall deliver (or cause to be delivered) to Purchaser or any other applicable
Purchaser Group Company each of the Transaction Documents, duly executed by Seller or its applicable Subsidiary, if applicable, as the case may be; 

(c) Seller shall deliver (or cause to be delivered) to Purchaser true, correct and complete electronic copies of any required resolutions or
applicable equivalent duly adopted by the governing bodies of each Local Support Company, authorizing the execution, delivery and performance of the applicable Bill of Sale and the transactions contemplated thereunder; and 

(d) Seller shall deliver (or cause to be delivered) to Purchaser the Guarantee, duly executed by Seller Parent. 

Section 8.3 Purchaser’s Closing Deliverables. At the Closing: 

(a) Purchaser shall make or cause to be made the payment required under Section 3.1(c), within two (2) Business Days of Closing, if
any such payment is owed by Purchaser; 
 (b) Purchaser shall issue to Seller 2 or the Local Support Companies, as applicable, the number of
Purchaser Series G Preference Shares required to be delivered pursuant to Section 2.3 in the aggregate; 
 (c) Purchaser shall cause PT
Solusi Transportasi Indonesia and GrabTaxi Company Limited to issue the applicable Local Promissory Note to PT Uber Indonesia Technology and Uber Vietnam Limited, respectively; 

(d) Purchaser shall deliver (or cause to be delivered) to Seller or its applicable Subsidiary each of the Transaction Documents, duly executed
by Purchaser or any other applicable Purchaser Group Company, as the case may be; 
 (e) Purchaser shall deliver (or cause to be delivered)
to Seller a copy of the Shareholders Agreement, duly executed by such of Purchaser’s shareholders as required by the terms of the Shareholders Agreement to execute it; 

(f) Purchaser shall deliver (or cause to be delivered) to Seller a copy of the Purchaser Amended Articles, which shall be effective as of the
consummation of the Closing; and 
 (g) Purchaser shall deliver (or cause to be delivered) to Seller true, correct and complete electronic
copies of any required resolutions or applicable equivalent duly adopted by any governing bodies of each Purchaser Group Company that is party to a Bill of Sale, authorizing the execution, delivery and performance of the applicable Bill of Sale and
the transactions contemplated thereunder. 

  
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 ARTICLE IX 

INDEMNIFICATION 

Section 9.1 Seller Indemnification. Subject to the limitations set forth in this Article IX, following the Closing, each Seller
undertakes, jointly and severally, to indemnify, keep indemnified and hold harmless Purchaser and its Affiliates from and against any and all Losses which any of Purchaser or any of its Affiliates suffers or incurs arising out of or resulting
from: 
 (a) any breach or inaccuracy as of the Closing (except in any case that representations or warranties expressly speak as of a
specified date, then as of such specified date or time) of any of the representations or warranties of Seller contained in Article IV of this Agreement (for purposes of determining if any such representation or warranty is inaccurate or breached and
for purposes of calculating any Losses suffered or incurred arising out of or resulting from or in respect of such breach or inaccuracy, such representation and warranty shall be read as if it were not qualified by any concept of
“material,” “materiality” or “Business Material Adverse Effect” or a similar qualification, except that (i) the “Business Material Adverse Effect” reference contained in Section 4.9 (Absence of
Changes) and in clause (vii) of Section 4.11 (Liabilities) will not be deemed deleted and (ii) such qualifications shall be given effect with respect to: the definition of and any reference to Seller Material Contract or Seller
Material Assigned Contract (i.e., the term “Seller Material Contract” shall not be read as “Seller Contract”); Section 4.6(b); the first reference to “material” in Section 4.7(a); clause (b) in the last
sentence of Section 4.8; the second sentence of Section 4.13(b); Section 4.13(c); Section 4.15(c); and the second sentence of Section 4.16(b)); 

(b) any breach by the Seller of, or the failure by the Seller to perform, any of its covenants or other agreements contained in this Agreement;

 (c) any Excluded Liability; 

(d) any Liability for Taxes of, or imposed on, Seller, any of its Subsidiaries (including the Local Support Companies) or the Seller Business
for, attributable to or arising in any Pre-Closing Tax Period; 
 (e) any Transfer Taxes and Transfer
and Liquidation Costs, or share of any Transfer Taxes and Transfer and Liquidation Costs, for which Seller is liable under Section 7.4; 

(f) any Liability under or with respect to the Lion City Agreements or otherwise with respect to the Lion City Transaction, which for the
avoidance of doubt, shall not include the covenants of the Parties in Section 6.1, Section 6.4(b) or Exhibit 6.4(b), or any exhibits thereto; 

(g) any Liability under or with respect to any portion of a Shared Contract to the extent allocated outside the Territories; 

  
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 (h) any Liability with respect to any bonus payable by any Purchaser Group Company to any
Seller Business Employee with respect to their services to Seller Parent or any of its Affiliates for any period prior to January 1, 2018, including 2017 Bonuses reimbursable under the proviso of Section 6.10(a)(ii), but excluding any 2018
Equity Refresh Grants; and 
 (i) notwithstanding anything to the contrary set forth in any Transaction Document, 50% of any Liability with
respect to failure to comply with Applicable Law in connection with the transfer by Seller or any of its Affiliates of Seller Territory Data to any Purchaser Group Company in compliance with the Transition Services Agreement, including the Data
Attachment to Schedule 3 of the Transition Services Agreement (other than the failure to comply with Applicable Law in Vietnam or Philippines which Liability shall be 100% borne by Purchaser). Notwithstanding anything to the contrary set forth
in any Transaction Document, this Section 9.1(i) shall be the sole and exclusive remedy available to Purchaser for any breach of Applicable Law by Seller or its Affiliates (or any breach of representation or warranty of Seller relating thereto)
with respect to the transfer by Seller or any of its Affiliates of Seller Territory Data to any Purchaser Group Company in compliance with the Transition Services Agreement, including the Data Attachment to Schedule 3 of the Transition Services
Agreement. 
 Section 9.2 Purchaser Indemnification. Subject to the limitations set forth in this Article IX, following the
Closing, Purchaser undertakes to indemnify, keep indemnified and hold harmless Seller and its Affiliates from and against any and all Losses which any of Seller or any of its Affiliates suffers or incurs arising out of or resulting from: 

(a) any breach or inaccuracy as of the Closing (except in any case that representations or warranties expressly speak as of a specified date,
then as of such specified date or time) of any of the representations or warranties of Purchaser contained in Article V of this Agreement (for purposes of determining if any such representation or warranty is inaccurate or breached and for purposes
of calculating any Losses suffered or incurred arising out of or resulting from or in respect of such breach or inaccuracy, such representation and warranty shall be read as if it were not qualified by any concept of “material,”
“materiality” or “Purchaser Material Adverse Effect” or a similar qualification, except that (i) the “Purchaser Material Adverse Effect” reference contained in Section 5.10 (Absence of Changes) and in
clause (vii) of Section 5.12 (Liabilities) will not be deemed deleted and (ii) such qualifications shall be given effect with respect to: the definition of and any reference to Purchaser Material Contract (i.e., the term
“Purchaser Material Contract” shall not be read as “Purchaser Contract”); Section 5.7(b); the first reference to “material” in Section 5.8(a); clause (y) in the last sentence of Section 5.9; the
first and second sentence of Section 5.14(b); and Section 5.15(a), (d), (e) and (h)(i) (i.e., such provisions shall be read as “material to the operation of the Purchaser Group Companies”); 

(b) any breach by the Purchaser of, or the failure by the Purchaser to perform, any of its covenants or other agreements contained in this
Agreement; 
 (c) any Assumed Liability; 

  
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 (d) any Transfer and Liquidation Costs, or share of any Transfer and Liquidation Costs, for
which Purchaser is liable under Section 7.4; 
 (e) any Liability arising from the attempted assignment, winding down, fulfillment of
performance or termination, as the case may be, of any Specified Local Assets; provided, that Seller complied with its obligations under Section 1.6 (except with respect to Losses directly resulting from the absence of insurance as would
have been required by Section 1.6(f)) and Section 1.7; and 
 (f) any Liability for which Purchaser is responsible pursuant to
Section 6.6(c); 
 (g) any Liability under or with respect to any portion of a Shared Contract to the extent allocated to the
Territories (unless such Liability would be an Excluded Liability); 
 (h) notwithstanding anything to the contrary set forth in any
Transaction Document, (i) 50% of any Liability with respect to failure to comply with Applicable Law (other than the failure to comply with Applicable Law in Vietnam or Philippines) and (ii) 100% of any Liability with respect to failure to comply
with Applicable Law in Vietnam or Philippines, in each case of clauses (i) and (ii) in connection with the transfer by Seller or any of its Affiliates of Seller Territory Data to any Purchaser Group Company in compliance with the Transition
Services Agreement, including the Data Attachment to Schedule 3 of the Transition Services Agreement (and the parties agree that this Section 9.2(h) will apply notwithstanding any breach of Applicable Law by Seller or its Affiliates (or
any breach of representation or warranty of Seller relating thereto) with respect to the transfer by Seller or any of its Affiliates of Seller Territory Data to any Purchaser Group Company in compliance with the Transition Services Agreement,
including the Data Attachment to Schedule 3 of the Transition Services Agreement); and 
 (i) any Liability with respect to the matters
set forth on Exhibit 9.2(i). 
 Section 9.3 Time Limits. 

(a) All of the representations, warranties, covenants and agreements of the parties contained in this Agreement, and all indemnification
obligations with respect thereto, shall survive (and not be affected in any respect by) the Closing indefinitely, and any investigation conducted by any Party hereto and any information or knowledge which any Party may have or receive.
Notwithstanding the foregoing, subject to Section 9.11(c), a Receiving Party shall not be liable: 
 (i) pursuant to
Section 9.1(a) (other than with respect to Seller Fundamental Warranties) or Section 9.2(a) (other than with respect to Purchaser Fundamental Warranties), as the case may be, unless the Claiming Party gives the Receiving Party written
notice of such Claim on or before the date being eighteen (18) months from the Closing; 

  
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 (ii) for any Fundamental Warranty Claim (other than any Tax Claim) unless
the Claiming Party gives the Receiving Party written notice of such Fundamental Warranty Claim on or before the date being six (6) years from the Closing; 

(iii) for any Tax Claim unless the Claiming Party gives the Receiving Party written notice of such Claim on or before the date
being thirty (30) days after the expiration of the applicable statute of limitation or any equivalent enforcement period of any local Tax authority; or 

(iv) for any breach of any covenant under Section 6.1, Section 6.3, Section 6.4 or Exhibit 6.4(b),
Section 6.5, Section 6.6 (except for Section 6.6(c)), Section 6.7, Section 6.8, Section 6.9, Section 6.10 or Section 6.11, unless the Claiming Party gives the Receiving Party written notice of such Claim on or
before the date being eighteen (18) months from the last date for which performance is required by the Receiving Party pursuant to the terms of such covenant. 

(b) The written notice of any Claim referred to in Section 9.3(a) shall be given as soon as reasonably practicable after the Claiming
Party becomes aware of such matter stating reasonable details (to the extent known at the relevant time) of the nature of such Claim, the specific nature of the breach to which such Claim, is related, the circumstances giving rise to it and (if
practicable) the Claiming Party’s bona fide estimate of any alleged Loss; provided, however, that the failure by the Claiming Party to deliver such notice shall not prevent the Claiming Party from being indemnified hereunder,
except to the extent that the failure to so notify the Receiving Party materially prejudices the Receiving Party’s ability to defend against such Claim. If the Claiming Party has given notice of any Claim referred to in Section 9.3(a) in a
timely manner and in accordance with this Section 9.3(b), such Claim shall not be subject to further time limitation. 

Section 9.4 Contingent Liabilities. To the extent that a Claim arises out of a Liability which at the time that it is notified to
the Receiving Party is contingent only, the Receiving Party shall not be under any obligation to make any payment to the Claiming Party unless and until the Liability ceases to be contingent and becomes an actual Liability (provided, that the
foregoing shall not prevent any Claiming Party from bringing a Claim against a Receiving Party for any such Loss that is contingent or that has not yet become due and payable for purposes of Section 9.3). 

Section 9.5 Monetary and Other Limits. 

(a) Subject to Section 9.11(c), the aggregate amount of the Liability (the “Cap”) of either Seller and its Affiliates or
Purchaser and its Affiliates, as the case may be, for Claims: 
 (i) in respect of the aggregate amount of all Losses
indemnifiable pursuant to Section 9.1(a) (other than with respect to Seller Fundamental Warranties) or Section 9.2(a) (other than with respect to Purchaser Fundamental Warranties) shall not exceed USD285,928,668; provided, that the
Cap set forth in this Section 9.5(a)(i) shall not be subject to any deduction of the amount of any Losses previously recovered that are subject to the Cap set forth in Section 9.5(a)(ii) as long as the aggregate amount of the Liability of
either Seller and its Affiliates or Purchaser and its Affiliates, as the case may be, for Claims that are subject to the Cap set forth in Section 9.5(a)(i) and Section 9.5(a)(ii) does not exceed the Series G Preference Share Amount. 

  
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 (ii) in respect of the aggregate amount of all (A) Fundamental Warranty
Claims (other than for breaches or inaccuracies of the representations or warranties contained in Section 4.7 (Tax Matters), Section 5.8 (Tax Matters), Section 5.2(e) (Capitalization and Voting Rights) or Section 5.10(c)(v) and
(vi) (Absence of Changes)) or (B) Claims pursuant to Section 9.1(b) or Section 9.2(b) (except with respect to Section 2.3(e), Section 6.1, Section 6.4 or Exhibit 6.4(b), Section 6.5, Section 6.6(c),
Section 6.8, Section 6.9 and Section 6.11) shall not exceed the Series G Preference Share Amount, in each case less the amount of any Losses previously recovered that are subject to the Cap set forth in Section 9.5(a)(i);
provided, that no obligation of Seller to indemnify Purchaser under Section 9.1(a) or Section 9.1(c) through Section 9.1(g), and no obligation of Purchaser to indemnify Seller under Section 9.2(a) or Section 9.2(c)
through Section 9.2(f), shall be construed as a covenant within the meaning of Section 9.1(b) or Section 9.2(b), respectively, that would be subject to the Cap under clause (B) of Section 9.5(a)(ii). 

(b) Subject to Section 9.11(c), and other than with respect to Seller Fundamental Warranties or Purchaser Fundamental Warranties, neither
Seller and its Affiliates, nor Purchaser and its Affiliates, respectively, shall have any liability in respect of any Losses indemnifiable pursuant to Section 9.1(a) or Section 9.2(a), respectively: 

(i) until the aggregate amount of such Losses with respect to an individual matter or series of related matters arising out of
the same or substantially similar facts or circumstances exceeds USD200,000, in which case the full amount of all such Losses shall count towards the Threshold as provided in Section 9.5(b)(ii); provided, that the limitation on
indemnification set forth in this Section 9.5(b)(i) shall cease to apply once an aggregate amount of Losses of USD4,625,000 (that would otherwise have counted towards the Threshold) shall not have counted towards the Threshold on account of the
limitation on indemnification set forth in this Section 9.5(b)(i) and 
 (ii) subject to Section 9.5(b)(i), unless
and until the amount of such Losses, when aggregated with the amount of any other Losses of a Claiming Party (or which would have been made but for the provisions of this Section 9.5(b)(ii)) exceeds USD22,874,293 (the
“Threshold”), in which case the Receiving Party’s Liability in respect of such claim(s) shall be limited to the amount of such Losses in excess of the Threshold. 

  
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 (c) The amount of any and all Losses indemnifiable pursuant to Section 9.1 or
Section 9.2 shall be determined net of any Tax benefit (to the extent attributable to an indemnifiable Loss of Seller or its Affiliates, or Purchaser or its Affiliates, as applicable) realized as a reduction in cash Taxes by or a refund of
Taxes to Seller and its Affiliates, or Purchaser and its Affiliates, as applicable, arising from the incurrence or payment of any such Loss (whether arising in the year of such Loss or in a subsequent year). 

Section 9.6 Sums Recovered from Third Parties. Any sum actually recovered by a Claiming Party before settlement or final
determination of any Claim (less any costs and expenses incurred by the Claiming Party in recovering the sum and any Tax attributable to or suffered in respect of the sum recovered) will reduce the amount of such Claim by an equivalent amount. If
recovery is delayed until after such Claim has been satisfied by the Receiving Party, the Claiming Party shall (subject to the remaining provisions of this paragraph) pay to the Receiving Party the lesser of the amount so recovered and the amount
paid by the Receiving Party to the Claiming Party in respect of such Claim (in each case less any costs and expenses incurred by the Claiming Party in recovering the sum and any Tax attributable to or suffered in respect of the sum recovered). If
the amount so recovered exceeds the amount of such Claim satisfied by the Receiving Party, the Claiming Party shall be entitled to retain the excess. 

Section 9.7 No Double Recovery. A Claiming Party shall not be entitled to recover damages or obtain payment, reimbursement,
restitution or indemnity (i) more than once in respect of any one shortfall, damage, deficiency, breach or other set of circumstances which give rise to one or more Claims or (ii) with respect to a matter that is expressly taken
into account in connection with the calculations contemplated by Article III (i.e., cash, Indebtedness, Net Working Capital, etc.). For this purpose, recovery by any Affiliate of a Claiming Party of any amounts from the Receiving Party shall be
deemed to be recovery by the Claiming Party. 
 Section 9.8 Third Party Claims. 

(a) Subject to Section 9.8(c), in respect of any fact, matter, event or circumstance which comes to the attention or notice of a Claiming
Party which would reasonably be expected to result in a claim against it or any one of them (a “Third Party Claim”) and which, in turn, would reasonably be expected to result in a Claim, the Claiming Party shall (and shall procure,
where relevant, that its Affiliates shall): 
 (i) as soon as practicable (but in any event within ten Business Days after
receiving written notice of a Third Party Claim) give written notice to the Receiving Party stating reasonable details (to the extent known to the Claiming Party at the relevant time) of the nature of the Third Party Claim, the identity of the
third-party claimant (to the extent known to the Claiming Party at the relevant time), copies of any formal demand or complaint, the circumstances giving rise to it, the specific nature of the breach to which such Third Party Claim is related, and
(if practicable) a bona fide estimate of any alleged Loss (a “Third Party Claim Notice”); 

  
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 (ii) allow the Receiving Party and its Representatives to investigate the
Third Party Claim (including whether and to what extent any amount is or may be payable in respect thereof); 
 (iii) consult
in good faith with the Receiving Party and its Representatives as to any ways in which the Third Party Claim might be avoided, disputed, resisted, mitigated, settled, compromised, defended or appealed; 

(iv) make available (and shall use its reasonable endeavours to procure that any of its auditors, past or present, shall make
available) to the Receiving Party and its Representatives all such information they may reasonably require, subject to the Receiving Party giving customary undertakings as to confidentiality as the Claiming Party may reasonably require; and 

(v) subject to the Receiving Party meeting all of the requirements set forth in Section 9.8(b) and complying with the
other provisions of Section 9.8, permit the Receiving Party (and its Representatives), at the Receiving Party’s expense, to participate in the defence, settlement or compromise with respect to the Third Party Claim. 

(b) If the Receiving Party confirms in writing to the Claiming Party within thirty (30) days after receipt of a Third Party Claim Notice
the Receiving Party’s acknowledgement (i) that the Third Party Claim is an indemnifiable Claim under this Article IX (provided, that such acknowledgement shall not be deemed an admission of the validity of, or Losses relating to any
underlying claims of, such Third Party Claim) and (ii) that, as of such time, the Receiving Party (or, if the Receiving Party is Seller, Seller Parent) has adequate financial resources in order to indemnify for the reasonably likely amount of
any potential Liability that the Receiving Party would be responsible for under this Agreement with respect to such Third Party Claim (and if requested by the Claiming Party in writing, the Receiving Party shall demonstrate, within such thirty (30)-day period, such adequate financial resources to the Claiming Party’s reasonable satisfaction), the Receiving Party may notify the Claiming Party in writing that the Receiving Party intends to take the
sole control of such Third Party Claim within such thirty (30)-day period, except that, notwithstanding anything to the contrary contained in this Agreement, no Receiving Party may control the defense of any
Third Party Claim involving (i) any Third Party Claim that seeks an order, injunction or other equitable relief against the Claiming Party or any of its Affiliates (other than the Receiving Party), (ii) any Third Party Claim pursuant to
Section 9.1(a) or Section 9.2(a) if the aggregate amount of the Losses of the Claiming Party pursuant to such Third Party Claim and all prior Claims of the Claiming Party pursuant to this Article IX are reasonably expected to exceed the
applicable Cap (if a Cap is applicable to such Third Party Claim), or (iii) any criminal proceeding. In the event the Receiving Party elects to take the sole control of such Third Party Claim, (provided, that the Receiving Party is
permitted under this Section 9.8 to take the sole control), it shall take all such action, institute such proceedings and conduct such negotiations as the Receiving Party may reasonably deem necessary or appropriate to dispute, resist, appeal,
compromise, defend, remedy or mitigate the Third Party Claim, provided, that: 
 (i) The Receiving Party shall
keep the Claiming Party informed all of material developments in relation to any such action, proceedings or negotiations, and provide the Claiming Party with all information as the Claiming Party may reasonably request in relation thereto or
otherwise in relation to such Third Party Claim; and 

  
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 (ii) The Receiving Party shall not, without the prior written consent of the
Claiming Party, settle or compromise or consent to the entry of any judgment in any pending or threatened Third Party Claim in respect of which indemnification may be sought under this Agreement, unless such settlement, compromise or consent by its
terms obligates the Receiving Party to pay the full amount of the Liability in connection with such Third Party Claim, includes an unconditional release of the Claiming Party from all Liability arising out of such Third Party Claim and does not
require the Claiming Party to admit to any fault or wrongdoing. 
 (iii) The Claiming Party shall have the right to employ
separate counsel and to participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of the Claiming Party, and the Receiving Party shall reasonably cooperate with the Claiming Party in such defense;
provided, that in any Third Party Claim in which both the Receiving Party and the Claiming Party are named as parties and either the Receiving Party or the Claiming Party determines with advice of counsel that there may be one or more legal
defenses available to it that are different in any material respect from or additional to those available to the other Party or that a conflict of interest between such Parties may exist in respect of such Third Party Claim, the Receiving Party
shall be responsible for the reasonable fees and expenses of one counsel to such Claiming Party in connection with such defense. 
 (c) In
the event the Receiving Party (i) elects not to take the sole control of a Third Party Claim in accordance with Section 9.8(b), (ii) fails to notify the Claiming Party of its election in accordance with Section 9.8(b) or
(iii) is not entitled to take the sole control of a Third Party Claim in accordance with Section 9.8(b), the Claiming Party shall retain control of such Third Party Claim (and, in such instances, the Receiving Party shall have the right to
participate (at its own cost) in the defense of any such Third Party Claim with counsel selected by the Receiving Party as specified in Section 9.8(a)(v)) and, subject to Section 9.8(a), take all such action, institute such proceedings and
conduct such negotiations as the Claiming Party may in its sole discretion deem reasonably necessary to dispute, resist, appeal, compromise, defend, remedy or mitigate such Third Party Claim; provided, however, that the Claiming Party
shall not settle such claim without the written consent of the Receiving Party (such consent not to be unreasonably withheld, conditioned or delayed). 

  
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 (d) Notwithstanding any of the foregoing in this Section 9.8, Tax Contests shall be
governed by Section 7.1, rather than this Section 9.8. 
 Section 9.9 Insurance; Mitigation. No Claiming Party shall
be required to seek recovery under any insurance policy of the Claiming Party or its Affiliates as a result of this Article IX. Without limitation to any other provision of this Agreement, for the avoidance of doubt, no Claiming Party shall be
prohibited from recovering any Losses from a Receiving Party under Section 9.1(a) (but solely with respect to Seller Fundamental Warranties) through (h) (if the Claiming Party is Purchaser or any of its Affiliates) or Section
9.2(a) (but solely with respect to Purchaser Fundamental Warranties) through (g) (if the Claiming Party is Seller or any of its Affiliates), as the case may be, and the amount of such Losses shall not be reduced, as a result of such Claiming Party
failing or having failed to take steps to reduce, prevent or otherwise mitigate such Losses, and accordingly any duty on such Claiming Party to mitigate its Losses under these circumstances shall be excluded. Notwithstanding the preceding sentence,
(i) once a Claiming Party notifies the Receiving Party of a Claim, the Claiming Party shall consider in good faith (for a period of 30 days following any such request) any request by the Receiving Party to take steps to reduce, prevent
or otherwise mitigate Losses in connection with such Claim, and the Receiving Party shall reimburse, promptly upon receipt of invoices from the Claiming Party from time to time, the Claiming Party for any incremental Losses suffered, or any
documented and out of pocket costs and expenses incurred, in connection with such steps, and (ii) if the amount of Losses awarded to such Claiming Party is nevertheless reduced by the Arbitral Tribunal as a result of such Claiming Party
failing or having failed to take steps to reduce, prevent or otherwise mitigate its Losses, the Receiving Party shall promptly pay to such Claiming Party an amount equal to the amount by which such Claiming Party’s Losses have been so reduced.

 Section 9.10 Consequential and Punitive Loss. No Receiving Party shall be liable in respect of any Claim for Losses to the
Claiming Party for any (a) indirect, special or consequential Losses unless to the extent such Losses (i) were reasonably foreseeable by a prudent person or (ii) are actually awarded to a third party pursuant to a
Third Party Claim, or (b) punitive or exemplary damages unless to the extent actually awarded to a third party pursuant to a Third Party Claim. 

Section 9.11 General. 

(a) Provisions of this Article IX apply notwithstanding any other provision of this Agreement to the contrary and shall not cease to have
effect as a consequence of any rescission or termination of any other provisions of this Agreement. 
 (b) Except as provided in
Section 10.8 (Specific Performance), Section 9.11(c) and Article III (Post-Closing Adjustment), from and after the Closing, this Article IX shall constitute the sole and exclusive remedy for claims arising out of or resulting from
this Agreement. 

  
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 (c) Notwithstanding anything in this Agreement to the contrary, the limitations on the
Liability of the Receiving Party set out in this Article IX shall not apply in relation to the Receiving Party to the extent that the Claim is arising out of or resulting from or in respect of Fraud. 

(d) Each of Seller and Purchaser may, at its election within ten (10) Business Days after it is finally determined that Seller or
Purchaser, as the case may be, has a Liability as a Receiving Party hereunder, choose to settle any Liability it may have pursuant to this Article IX in cash or by delivery of Purchaser Shares to the other Party. In the event that a Party elects (by
giving notice to the other Party) to deliver Purchaser Shares pursuant to this Section 9.11(d): 
 (i) at a time when
Purchaser’s Ordinary Shares are not admitted, quoted or listed on an internationally recognized stock exchange, then Seller or Purchaser, as the case may be, will deliver to the other Party Purchaser Series G Preference Shares, and for purposes
of determining the number of Purchaser Series G Preference Shares to be delivered, such shares will be valued at the greater of (x) the value per share as the most recent preferred series of stock issued by Purchaser prior to the initiation of
the applicable claim or (y) the Fair Market Value of the Purchaser Series G Preference Shares at that time as determined in accordance with Section 9.11(e); and 

(ii) at a time when Purchaser’s Ordinary Shares are admitted, quoted or listed on an internationally recognized stock
exchange, then for purposes of determining the number of Purchaser Shares (or ADRs, as applicable) to be delivered, such shares will be valued at a price per share equal to the volume weighted average price of a Purchaser Ordinary Share (or ADR as
applicable) on their primary trading market or exchange for the twenty (20) consecutive trading days ending on the second (2nd) trading day prior to the date of delivery. 

(e) “Fair Market Value” means the price at which a willing seller would sell, and a willing buyer would buy, such Purchaser
Shares having full knowledge of the relevant facts in an arm’s-length transaction without either party having time constraints, and without either party being under any compulsion to buy or sell, as
determined in accordance with the following sentences of this Section 9.11(e). For the period ending thirty (30) days after a Party has received notice of the election of the other Party to deliver Purchaser Shares pursuant to
Section 9.11(d), the Parties shall in good faith negotiate the Fair Market Value of such Purchaser Shares as of the date of such election (the “Mutual Valuation Period”). If the Parties are unable to reach agreement as to such
Fair Market Value within the Mutual Valuation Period, they shall, at a date and time mutually agreed by Seller and Purchaser (but in any event no later than thirty (30) days after the expiration of the Mutual Valuation Period), each submit to a
mutually agreed independent third party (in the event they cannot agree on such an independent third party during such thirty (30)-day period, then either of them may request the LCIA to select such third
party) (such independent third party, the “FMV Arbitrator”), its determination of such Fair Market Value. At or prior to the time of such submission, Seller and Purchaser will each instruct the FMV Arbitrator to keep such submission
confidential and not to disclose its contents to any other Person until the respective other Party has also submitted its determination to the FMV Arbitrator. The FMV Arbitrator will also be instructed by the Parties to give copies of each
submission to both of them simultaneously promptly (but in any event within one day) after each such determination has been submitted to it. The FMV Arbitrator shall then determine the Fair Market Value of the Purchaser Shares by selecting either of
the calculations of Fair Market Value submitted to the FMV Arbitrator by the Parties. The fees and expenses of the FMV Arbitrator in connection with its determination of Fair Market Value under this Section 9.11(e) shall be borne in their
entirety by the Party whose calculation was not selected by the FMV Arbitrator. 

  
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 ARTICLE X 

MISCELLANEOUS 

Section 10.1 Certain Definitions. As used in this Agreement, the following terms have the meanings set forth below. 

“2017 Bonuses” means the aggregate amount of cash bonuses that are payable to Seller Business Employees with respect to their
services to Seller Parent or any of its Affiliates in the fiscal year 2017. 
 “2018 Equity Refresh Grants” means the
aggregate amount of equity refresh grants awarded in the course of Seller Parent’s global annual ordinary course performance review cycle to be completed by March 31, 2018 that are to be granted to Seller Business Employees with respect to
their services to Seller Parent or any of its Affiliates in the fiscal year 2017 that are set forth in, on an individual basis, an email between Seller and Purchaser, dated March 25, 2018, 12:30 a.m. P.T., which information shall be anonymized
for any Seller Business Employees for whom consent to share such data has not been obtained as required under Applicable Law as of such date and time (with the anonymized information of such Seller Business Employees to be provided promptly after
Seller obtains such consents) (including the information called for in Section 4.2(c), it being understood that, to the extent that Purchaser (and not Seller Parent or any of its Affiliates) shall be required to make the applicable equity
grants under Section 6.10, such provision shall be applied mutatis mutandis). 
 “Accounting Methods” means
(a) in respect of Seller, the classifications, judgments and valuation and estimation methodologies (including the methodologies used to calculate reserves) used in the preparation of the balance sheet included in the most recent Seller
Financial Statements or as otherwise set forth on Section 4.8 of the Seller Disclosure Schedule; provided, that if any such classifications, judgments and valuation and estimation methodologies (including the methodologies used to
calculate reserves) are not in accordance with U.S. GAAP, applied on a consistent basis, or as otherwise set forth on Section 4.8 of the Seller Disclosure Schedule, then U.S. GAAP applied on a consistent basis shall prevail; provided,
further, that any changes in assets or Liabilities as a result of purchase accounting adjustments arising from or resulting from the consummation of the Transaction shall be excluded, and (b) in respect of Purchaser, the classifications,
judgments and valuation and estimation methodologies (including the methodologies used to calculate reserves) used in the preparation of the balance sheet included in the most recent Purchaser Financial Statements; provided, that if
any such classifications, judgments and valuation and estimation methodologies (including the methodologies used to calculate reserves) are not in accordance with IFRS applied on a consistent basis, then IFRS applied on a consistent basis shall
prevail; provided, further, that any changes in assets or Liabilities as a result of purchase accounting adjustments arising from or resulting from the consummation of the Transaction shall be excluded; and provided,
further, that any changes in the accounting methods, principles or practices of Purchaser or Seller after the Closing Date shall not affect the Accounting Methods. 

  
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 “Acquired Assets” means, collectively, the Dutch Acquired Assets and the
Local Acquired Assets, including the Seller Territory Data, the Delayed Assets, the Uni EATS Assets, the Seller Assigned Contracts and copies of the employment and benefits-related records set forth on Schedule B to the Transition Services
Agreement for the Continuing Employees. 
 “Action” means any charge, claim, action, complaint, petition, investigation,
appeal, suit, litigation or other similar proceeding initiated or conducted by a mediator, arbitrator or Governmental Authority, whether administrative, civil, regulatory or criminal, and whether at law or in equity, or otherwise under any
Applicable Law. 
 “Affiliate” means, as to any Person, any other Person that, directly or indirectly, Controls, or is
Controlled by, or is under common Control with, such Person. For the avoidance of doubt, (x) under no circumstances will Seller Parent or any of its Affiliates be deemed to be Affiliates of Purchaser or any of its Subsidiaries or vice versa,
(y) none of the shareholders of Seller Parent shall be deemed to be Affiliates of Seller or any of its Subsidiaries and (z) none of the shareholders of Purchaser or Old Sake Parent shall be deemed to be Affiliates of Purchaser or any other
Purchaser Group Company. 
 “Amended Purchaser Articles” means the amended and restated memorandum and articles of
association of Purchaser to become effective immediately prior to the Closing and to be filed by Purchaser with the registrar in the Cayman Islands within 15 days after effectiveness, in substantially the form attached hereto as Exhibit
10.1(A). 
 “Antitrust Laws” means any Applicable Law that is designed to prohibit, restrict or regulate actions
having the purpose or effect of monopolization, abuse of dominance, lessening of competition, impeding effective competition, restraint of trade or collusion. 

“Applicable Law” means with respect to any Person, any foreign, national, federal, state, local, municipal or other law,
statute, constitution, resolution, ordinance, code, permit, rule, regulation, ruling or requirement issued, enacted, adopted, promulgated, implemented or otherwise put into effect by or under the authority of any Governmental Authority and any
orders, writs, injunctions, awards, judgments and decrees applicable to such Person or its Subsidiaries, their business or any of their respective assets or properties. 

“Arbitral Tribunal” means the arbitral tribunal that has been established in accordance with Section 10.12(a). 

  
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 “Assumed Liabilities” means, collectively, the Dutch Assumed Liabilities
and the Local Assumed Liabilities. 
 “Bills of Sale” means one or more bills of sale and instruments of assignment and
assumption in respect of the applicable Acquired Assets and the applicable Assumed Liabilities, respectively, between Seller, a Subsidiary of Seller or a Local Support Company, on the one hand, and the applicable Purchaser Group Company, on the
other hand, and, in the case of the Bill of Sale with respect to the Delayed Assets and the Delayed Liabilities, in the form attached hereto as Exhibit 10.1(B) and, in the case of the Bill of Sale with respect to the Uni
EATS Assets and the Uni EATS Liabilities, in the form attached hereto as Exhibit 6.7(d). 
 “Business Data” has the
meaning set forth on Exhibit 10.1(C). 
 “Business Day” means any day other than a Saturday or Sunday or a day on
which banks are required or authorized to close in San Francisco, United States, the Cayman Islands or Singapore. 
 “Business
Material Adverse Effect” means, with respect to the Seller Transferred Business, Seller or any of its Subsidiaries (including the Local Support Companies), any event, change, effect, condition or circumstance (each, an
“Effect”) that, either individually or in the aggregate with other Effects, has had, or would reasonably be expected to have, a material adverse effect on (i) the business, financial condition or results of operations of the
Seller Transferred Business, taken as a whole, or (ii) the ability of Seller or any of its Affiliates to perform their respective obligations under this Agreement or any other Transaction Document that are material to the Transaction as a
whole; provided, however, that, in no event shall any of the following, alone or in combination, be deemed to constitute, nor shall any of the following be taken into account in determining whether there has occurred, a Business
Material Adverse Effect under clause (i) of the foregoing: (a) Effects resulting from conditions generally affecting the industries in which the Seller Transferred Business operates or any global economy or capital markets or the economy
or capital markets of the Territories as a whole; (b) Effects resulting from earthquakes, acts of war, armed hostilities or terrorism or any material escalation thereof; (c) any failure to meet internal or published third party
projections, estimates or forecasts, provided, that such exclusion shall not apply to any underlying Effect that may have caused such failure; (d) Effects resulting from the public announcement of this Agreement or the
Transaction; or (e) changes in Applicable Law, regulatory conditions or applicable accounting principles; except, in the case of clauses (a), (b) or (e) of this definition, to the extent that such Effect or changes has a disproportionate
effect on the Seller Transferred Business, taken as a whole, relative to other businesses engaged in the Territories in the same or substantially similar industries in which the Seller Transferred Business operates. 

“Cause” means (i) the commission of an act of fraud, embezzlement or theft against any of the Purchaser Group Companies;
(ii) a conviction (including a guilty plea or plea of nolo contendere) for any felony; (iii) a conviction (including a guilty plea or plea of nolo contendere) for any misdemeanor involving moral turpitude; (iv) chronic failure to
comply in all material respects with reasonable instructions and directions of any direct supervisor, which, if such violation is curable, is not cured within thirty (30) days of written instruction or direction of such supervisor to cure such
violation; (v) chronic unexplained absence from work, (vi) wilful misconduct or gross negligence in the performance of material duties, (vii) a violation of any material policy of any of the Purchaser Group Companies, which, if such
violation is curable, is not cured within thirty (30) days after notice thereof to the individual; or (viii) a material violation of any Applicable Laws in connection with or during performance of the individual’s job function which,
if such violation is curable, is not cured within thirty (30) days after notice thereof to the individual. 

  
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 “Claim” means a claim against the Receiving Party pursuant to any of the
provisions of Section 9.1 or Section 9.2. 
 “Claiming Party” means either Purchaser or Seller, when making a
Claim against the other Party. 
 “Code” means the Internal Revenue Code of 1986, as amended. 

“Continuing Employee” means (i) a Seller Business Employee who accepts an offer of employment with Purchaser (or one of
its Subsidiaries) pursuant to Section 6.6(a) and becomes an employee of Purchaser (or one of its Subsidiaries) at the Employment Transfer Time applicable to such employee, or (ii) a Singapore Protected Employee who by operation of the
Singapore Employment Act becomes an employee of Purchaser (or one of its Subsidiaries) at Closing. 
 “Contract” means any
legally binding written, oral or other agreement, contract, subcontract, lease, instrument, note, option, warranty, purchase order, license, sublicense, mortgage, guarantee, purchase order, insurance policy or commitment or undertaking of any nature
that has any outstanding rights or obligations. 
 “Control” of a given Person means the power or authority, whether
exercised or not, to direct the business, management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by Contract or otherwise; provided, that such power or authority shall
conclusively be presumed to exist upon possession of beneficial ownership or power to direct the voting of more than fifty percent (50%) of the votes entitled to be cast at a meeting of the members or shareholders of such Person or power to control
the composition of a majority of board of directors or commissioners of such Person. The terms “Controlled” and “Controlling” have meanings correlative to the foregoing. 

“COTS License” means any license or software-as-a-service agreement for “shrinkwrap,” “click-through” or other “off-the-shelf”
software or for other software that is commercially available to the public generally (including terms of services with annual license, maintenance, support and other fees of less than USD200,000. 

“D&O Indemnification Agreement” means the D&O indemnification agreement entered into as of the date hereof between
Purchaser and Dara Khosrowshahi. 

  
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 “Delayed Assets” means such Local Acquired Assets set forth on
Exhibit 10.1(B) that are to be transferred, assigned, conveyed and delivered hereunder to MYTAXI.PH, INC.. 

“Delayed Liabilities” means such Local Assumed Liabilities set forth on Exhibit 10.1(B) that are to
be transferred, assigned, conveyed and delivered hereunder to MYTAXI.PH, INC.. 
 “DiDi” means Xiaoju Kuaizhi, Inc. 

“Disclosed” means fairly disclosed (with sufficient detail to allow a reasonable purchaser to make an informed assessment of
the nature and scope of the matters, facts and circumstances disclosed) in a Disclosure Letter or as otherwise specified in Section 4.2(c) Section 4.9(c)(vii), Section 4.16(b), Section 4.16(h) or Section 6.6(a). 

“Disclosure Letters” means collectively, the Purchaser Disclosure Letter and the Seller Disclosure Letter (and each, as
applicable and to the extent consistent with the context, a “Disclosure Letter”). 
 “Driver, Courier and
Restaurant Payables” means the payables (including, for the avoidance of doubt, incentives and, in the case of the Purchaser only, any amounts held in any driver partner, courier or Restaurant Merchant wallets) to (i) driver partners
in connection with providing transportation services to a rider or (ii) couriers and Restaurant Merchants in connection with providing food delivery services to an eater, (x) in the case of Seller and its Affiliates, under the Dutch
Assigned Contracts, or (y) in the case of Purchaser and its Affiliates, under Purchaser Contracts. 
 “Driver
Receivables” means the receivables from driver partners resulting from driver partners topping up their driver partner wallets (but solely to the extent there is a corresponding amount held in any driver partner, courier or
Restaurant Merchant wallets that is included in Driver, Courier and Restaurant Payables). 
 “Due Diligence Clean Team
Agreement” means that certain Due Diligence Clean Team Agreement dated as of March 1, 2018, by and between Old Sake Parent and Seller Parent, as amended. 

“Dutch Acquired Assets” means all of the assets, properties, privileges, claims and rights of Seller or its Affiliates that
are Related to the Seller Business (other than any Dutch Excluded Assets, Local Acquired Assets or Local Excluded Assets), including the Seller Territory Data and the Dutch Assigned Contracts, whether or not any of such assets, properties,
privileges, claims or rights have any value for accounting purposes or are carried or reflected on or specifically referred to in the books, records or financial statements of Seller or any other Person. 

“Dutch Assigned Contracts” means, other than any Contracts included in Dutch Excluded Assets, all Contracts Related to the
Seller Business, to which Seller or one of its Subsidiaries (other than any of the Local Support Companies) is a party or to which any of their respective properties or assets are bound, including Contracts with individual driver partners, riders
and eaters. 

  
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 “Employee Services Expiration Date” has the meaning given such term in the
Transition Services Agreement. 
 “Employment Transfer Time” means (i) with respect to an applicable Seller Business
Employee (other than the Singapore Protected Employees) who accepts an offer with Purchaser, the start date specified in the offer letter (which period of time between offer date and start date shall be as short as reasonably practicable and shall
be in accordance with Purchaser’s historical practices for the applicable jurisdiction) applicable to such employee, but in the case of an Inactive Seller Business Employee, in no case earlier than the date such employee presents himself or
herself to Purchaser for active employment in accordance with Section 6.6(a), and (ii) with respect to the Singapore Protected Employees, the Closing. 

“Encumbrance” means, with respect to any asset (including, without limitation, any security) any mortgage, hak tanggungan,
hipotek, lien, pledge, gadai, fiduciary transfer, security interest, option, charge, power of attorney to vote or sell, conditional assignment, restriction, third party right or interest or other encumbrance of any kind in respect of such
asset. 
 “Equity Securities” means, with respect to any Person that is a legal entity, any and all shares of capital
stock, membership interests, units, profits interests, ownership interests, equity interests, registered capital, and other equity or voting securities or such Person, and any right, warrant, option, call, commitment, conversion privilege,
preemptive right or other right to acquire any of the foregoing, or any Contract providing for the acquisition of any of the foregoing. 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended. 

“ERISA Affiliate” means with respect to any entity, any other entity that, together with such first entity, would be treated
as a single employer within the meaning of Sections 414(b), (c), (m), or (o) of the Code or Section 40001(b)(1) of ERISA. 

“Excluded Assets” means, collectively, the Dutch Excluded Assets and the Local Excluded Assets. 

“Excluded Liabilities” means, collectively, the Dutch Excluded Liabilities and the Local Excluded Liabilities. 

“Fraud” means fraud (including the element of scienter), but not constructive or equitable fraud by negligent or innocent
breach of representation or warranty (it being understood that failure to disclose a breach or default under a Seller Assigned Contract that is not a Seller Material Contract or under a Seller Lease shall be deemed an innocent breach of
representation or warranty as long as (i) Seller had no Knowledge of such breach or default, and (ii) none of Seller’s employees involved in the preparation of the Seller Disclosure Letter had any actual knowledge (after reasonable
inquiry of other employees of Seller and its Affiliates who were aware of the Transaction prior to Closing and who would reasonably be expected to have knowledge of the matter)). 

  
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 “Fundamental Warranty Claim” means a Claim against a Receiving Party
pursuant to Section 9.1(a) or Section 9.2(a) involving a Seller Fundamental Warranty or a Purchaser Fundamental Warranty, respectively. 

“Global Roaming Agreement” means the global roaming agreement entered into as of the date hereof between Purchaser and Uber
B.V.. 
 “Governmental Authority” means any supranational, national, federal, state, provincial, municipal or local court,
administrative body or other governmental or quasi-governmental entity or authority with competent jurisdiction exercising legislative, judicial, regulatory or administrative functions of or pertaining to supranational, national, federal, state,
municipal or local government, including any department, commission, board, agency, bureau, subdivision, instrumentality or other regulatory, administrative, judicial or arbitral authority or arbitral tribunal, whether domestic or foreign. 

“Governmental Order” means any applicable order, ruling, decision, verdict, decree, writ, subpoena, mandate, precept,
command, directive, consent, approval, award, judgment, injunction or other similar determination or finding by, before or under the supervision of any Governmental Authority. 

“IFRS” means International Financial Reporting Standards. 

“Inactive Seller Business Employees” means the Seller Business Employees (excluding, for the avoidance of doubt, the
Singapore Protected Employees) who are classified as “employees” and who are not actively at work at the Employment Transfer Time for other similarly situated Seller Business Employees because they are on an authorized leave of absence due
to military leave, family and medical leave, maternity leave, or another approved leave (but, in each case, only to the extent they have reemployment rights guaranteed under Applicable Law, under the terms of any applicable collective bargaining
agreement or under the terms of any applicable leave of absence policy of the Seller) or are on short-term disability under the Seller’s short-term disability program. 

“Incentive Payment” means, for each Designated Transition Employee or certain Excluded Employees (as applicable), an amount,
less all applicable Tax and other related withholdings, equal to (A) a minimum of one (1) month of such employee’s base salary (as in effect at the time of Closing), plus (B) an additional week of such employee’s base salary
(as in effect at the time of Closing) for each additional week of service (if any) provided by the Designated Transition Employee, or certain Excluded Employees (as applicable), during the Designated Transition Period, or such other amount as
mutually agreed by the Parties. 
 “Incidental License” means any: (i) licenses that arise as a matter of law by
implication as a result of sales of products and services to customers in the Ordinary Course, or (ii) a Contract to purchase or lease equipment, such as a photocopier, computer, or mobile phone that also contains a license of Intellectual
Property. 

  
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 “Indebtedness” of any Person means, without duplication, each of the
following of such Person: (i) all indebtedness for borrowed money, (ii) all obligations issued, undertaken or assumed as the deferred purchase price of property or services (other than trade payables entered into in the Ordinary Course),
(iii) all reimbursement or payment obligations with respect to letters of credit, surety bonds and other similar instruments, in each case to the extent drawn, (iv) all obligations evidenced by notes, bonds, debentures or similar instruments,
including obligations so evidenced that are incurred in connection with the acquisition of properties, assets or businesses, (v) all indebtedness created or arising under any conditional sale or other title retention agreement, or incurred as
financing, in either case with respect to any property or assets acquired with the proceeds of such indebtedness (even though the rights and remedies of the seller or bank under such agreement in the event of default are limited to repossession or
sale of such property), (vi) all obligations that are capitalized (including capitalized lease obligations), (vii) all obligations under banker’s acceptance or similar facilities, (viii) all obligations in respect of any interest rate
swap, hedge or cap agreement, and (ix) all guarantees issued in respect of the Indebtedness referred to in clauses (i) through (viii) above of any other Person, but only to the extent of the Indebtedness guaranteed. 

“Intellectual Property” means all intellectual property rights in any and all jurisdictions worldwide, including all of the
foregoing to the extent protected under any of the laws of any jurisdiction: (i) Patents, (ii) Trademarks, (iii) copyrights and mask works, (iii) Trade Secrets, (iv) “moral” rights, rights of publicity or privacy, data base
or data collection rights and other similar intellectual property rights, (v) registrations, applications, and renewals for any of the foregoing in (i)-(iv), and (vi) all rights in the foregoing. Notwithstanding the foregoing, solely for
purposes of this Agreement (and not any other Transaction Document, except as expressly set forth in any such Transaction Document), the term “Intellectual Property” shall not include and expressly excludes any Business Data (or any
intellectual property or other rights therein), including, but not limited to, any Seller Territory Data or any Purchaser Territory Data. 

“Investor Agreements” means the Shareholders Agreement and the Investor Proxy. 

“Investor Proxy” means the Voting Proxy Agreement and the relating Irrevocable Proxy and Power of Attorney (as attached to
the Voting Proxy Agreement) entered into as of the date hereof between Purchaser, Anthony Tan and Seller 2. 
 “Knowledge”
means (i) with respect to Seller, the actual knowledge of Dara Khosrowshahi, Katrina Johnson, Andrew Macdonald and Cameron Poetzscher after inquiry of their direct reports who are aware of the Transaction as of the Closing and would reasonably
be expected to have knowledge on the matter at issue and (ii) with respect to Purchaser, the actual knowledge of Anthony Tan, Nicholas Anthony, Ming Maa, and Zafrul Hashim after inquiry of their direct reports who are aware of the Transaction
as of the Closing and would reasonably be expected to have knowledge on the matter at issue. 

  
 104 

 “LCIA” means the London Court of International Arbitration 

“Liabilities” means debts, liabilities and obligations (including Taxes), whether accrued or fixed, absolute or contingent,
matured or unmatured, deferred or actual, determined or determinable, known or unknown, including those arising under any law, action or Governmental Order and those arising under any Contract. 

“Lion City Agreements” means (i) the Lion City SPA, (ii) the Lion City Shareholders Agreement, (iii) the
Collaboration Agreement and (iv) all other documents and agreements contemplated by the Lion City SPA or otherwise relating to the Lion City Transaction other than the Transaction Documents. 

“Lion City Rentals” means, collectively, Lion City Holdings Pte. Ltd. and its Subsidiaries. 

“Lion City Transitional Services Period” means the period from the consummation of the Closing until the earlier of
(i) the date on which Mieten B.V. or its Affiliates, directly or indirectly, cease to own 100% of the share capital of Lion City Rentals and (ii) the date that is eighteen (18) months after the Closing Date; provided, that the
Parties may mutually agree to extend the period set forth in clause (ii). 
 “Local Acquired Assets” means all of the
assets, properties, privileges, claims and rights of the Local Support Companies (other than any Local Excluded Assets), including the Local Assigned Contracts, whether or not any of such assets, properties, privileges, claims or rights have any
value for accounting purposes or are carried or reflected on or specifically referred to in the books, records or financial statements of the Local Support Companies or any other Person and copies of corporate books and records of internal
corporate proceedings. 
 “Local Assigned Contracts” means, other than any Contracts included in Local Excluded Assets, all
of the Contracts Related to the Seller Business to which any of the Local Support Companies is a party or to which any of their respective properties or assets are bound. 

“Local Support Companies” means, collectively, Uber Vietnam Limited, Uber Malaysia sdn bhd, Uber Singapore Technology Pte.
Ltd., Uber Technology (Cambodia) Company Limited, Uber (Thailand) Ltd., PT Uber Indonesia Technology, Uber Myanmar Limited, and Uber Systems, Inc., all of which are directly or indirectly wholly-owned subsidiaries of Seller 1 (other than a de
minimis number of director qualifying and nominee shares). 
 “Losses” mean losses, damages, deficiencies, claims,
diminutions in value, awards, judgments, costs and expenses and other Liabilities, including interest, fines, penalties, fees, disbursements and amounts paid in settlement or otherwise with respect to any Action relating to the foregoing (including
any costs or expenses suffered or incurred in investigating, settling or disputing any of the foregoing or in establishing or enforcing a right to be indemnified under this Agreement, and including, for the avoidance of doubt, reasonable and
documented legal and other professional advisers’, experts’ and consultants’ fees). 

  
 105 

 “Ordinary Course” means, with respect to any Person that is an
entity, the operations of such Person in the ordinary course of business consistent with past practice. 
 “Organizational
Documents” means with respect to any Person, such Person’s articles or certificate of association, incorporation, formation or organization, by-laws, limited liability company agreement,
partnership agreement or other constituent document or documents, each in its currently effective form as amended, restated and/or otherwise modified from time to time. 

“Patents” means patents, including utility models, industrial designs and design patents, and applications therefor (and any
patents that issue as a result of those patent applications), and including all divisionals, continuations, continuations-in-part, continuing prosecution applications,
substitutions, reissues, re-examinations, renewals, provisionals and extensions thereof, and any counterparts worldwide claiming priority therefrom. 

“Permitted Encumbrance” means (i) Encumbrances for Taxes, assessments and governmental charges or levies not yet due and
payable or that are being contested in good faith by appropriate proceedings and for which adequate reserves have been established in accordance with the applicable Accounting Standards; (ii) mechanics’, carriers’, workmen’s,
repairmen’s, materialmen’s or other Encumbrances or security interests arising or incurred in the Ordinary Course in respect of amounts that are not yet due and payable; (iii) rights of any third parties that are party or hold an
interest in any Seller Assigned Contracts (insofar as the term “Permitted Encumbrance” relates to Seller or any of its Affiliates) or any Contract to which a Purchaser Group Company is a party (insofar as the term “Permitted
Encumbrance” relates to any Purchaser Group Companies), as the case may be; and (iv) any other Encumbrances that have been incurred or suffered in the Ordinary Course and that are not material in amount or do not materially detract from
the value of or materially impair the existing use of the property affected by such Encumbrance, provided, however, in case of each of clauses (i), (ii) and (iv), that when the term “Permitted Encumbrance” is used in this
Agreement with respect to the Seller Business or Seller Transferred Business, such Encumbrance shall be a “Permitted Encumbrance” only to the extent that a Liability with respect to such Encumbrance is included in the Closing Net Working
Capital Amount to the extent the Accounting Methods so require. 
 “Person” means an individual, corporation, limited
liability company, partnership, association, trust, unincorporated organization, other entity or group. 
 “PII” has the
meaning set forth on Exhibit 10.1(C). 
 “Pre-Closing Tax Period” means any
Tax period (or portion thereof) ending on or before the Closing Date. 

  
 106 

 “Prohibited Person” means any Person that is (i) a national or
resident of any U.S. embargoed or restricted country, (ii) included on, or Affiliated with any Person on, the United States Commerce Department’s Denied Parties List, Entities and Unverified Lists; the U.S. Department of Treasury’s
Specially Designated Nationals, Specifically Designated Narcotics Traffickers or Specially Designated Terrorists, or the Annex to Executive Order No. 13224; the Department of State’s Debarred List; UN Sanctions; or (iii) a Person with
whom business transactions, including exports and imports, are restricted by a U.S. Governmental Authority, including, in each clause above, any updates or revisions to the foregoing and any newly published rules. 

“Purchaser Benefit Plan” means any (i) employee benefit plan, program, policy, practice, Contract or other arrangement,
including without limitation any compensation, severance, termination pay, deferred compensation, retirement, profit sharing, incentive, bonus, health, performance awards, share or share-related awards, fringe benefits or other employee benefits or
remuneration of any kind, and (ii) any employment, indemnification, consulting, retention or stay-bonus agreement, severance or change-in control agreement, in each case, whether written, unwritten or
otherwise, that is or has been sponsored, maintained, contributed to or required to be contributed to by Purchaser or its Affiliates for the benefit of any current or former employee, director, commissioner or officer, consultant or contractor of a
Purchaser Group Company. 
 “Purchaser Conversion Shares” means the Purchaser Ordinary Shares issuable upon conversion of
the Purchaser Series G Preference Shares. 
 “Purchaser Contracts” means all of the Contracts to which any of the Purchaser
Group Companies is a party or to which any of their respective properties or assets are bound. 
 “Purchaser Data Room”
means Purchaser’s virtual data room set up for this Transaction located at merrillcorp.corp. 
 “Purchaser Disclosure
Letter” means the letter dated the same date as this Agreement from Purchaser to Seller in relation to the representations and warranties set out in Article V. 

“Purchaser Fundamental Warranties” means, the representations and warranties set forth in Section 5.1 (Organization,
Good Standing and Qualification) (except for the second and final sentences), Section 5.2(a), (d) and (e) (Capitalization and Voting Rights), Section 5.3 (Corporate Structure) (except for the last sentence and with respect to foreign
qualifications and licenses in the first sentence), Section 5.4 (Authorization), Section 5.5 (Valid Issuance of Shares), Section 5.6(x)(B) (Consents; No Conflicts), Section 5.8 (Taxes), Section 5.10(c)(v) and (vi) (Absence
of Changes), Section 5.14(a) (Title; Properties), and Section 5.19 (Brokers). 
 “Purchaser Group Companies”
means Purchaser and its Subsidiaries. 

  
 107 

 “Purchaser Material Adverse Effect” means, with respect to each of the
Purchaser Group Companies, any Effect that, either individually or in the aggregate with other Effects, has not had, and would reasonably be expected to have, a material adverse effect on (i) the business, financial condition or results of
operations, in each case, of the Purchaser Group Companies, taken as a whole, or (ii) the ability of Purchaser or any of its Subsidiaries to perform their respective obligations under this Agreement or any other Transaction Agreement that are
material to the Transaction as a whole; provided, however, that, in no event shall any of the following, alone or in combination, be deemed to constitute, nor shall any of the following be taken into account in determining
whether there has occurred, a Purchaser Material Adverse Effect under clause (i) of the foregoing: (a) Effects resulting from conditions generally affecting the industries in which the Purchaser Group Companies operate or any global
economy or capital markets or the economy or capital markets of the Territories as a whole; (b) Effects resulting from earthquakes, acts of war, armed hostilities or terrorism or any material escalation thereof; (c) any failure to meet
internal or published third party projections, estimates or forecasts, provided, that such exclusion shall not apply to any underlying Effect that may have caused such failure; (d) Effects resulting from the public
announcement of this Agreement or the Transaction, or (e) changes in Applicable Law, regulatory conditions or applicable accounting principles; except, in the case of clauses (a), (b) or (e) of this definition, to the extent that such
Effect or changes has a disproportionate effect on the Purchaser Group Companies, taken as a whole, relative to other businesses engaged in the Territories in the same or substantially similar industries in which the Purchaser Group Companies
operate. 
 “Purchaser Material Contracts” means, collectively, each Purchaser Contract that: 

(i) involves obligations (contingent or otherwise), payments or revenues in excess of USD5,000,000 in the last twelve (12) months prior to
the Closing Date or expected obligations (contingent or otherwise), payments or revenues in excess of USD5,000,000 in the next twelve (12) months after the Closing Date; 

(ii) is required to be Disclosed under Section 5.15(e) of the Purchaser Disclosure Letter; 

(iii) involves any provisions providing for exclusivity, non-competition, non-solicitation, “change in control”, “most favored nations”, rights of first refusal or first negotiation or similar rights, except with respect to such Purchaser Contracts (A) entered
into with driver partners in connection with providing transportation services to riders, (B) that are marketing arrangements, partner programs with vendors, merchants, or other businesses, business development programs, driver partner
incentive schemes, or non-disclosure agreements, or (C) with respect to Purchaser Contracts that contain a “change in control” provision, that involve payments or revenues not exceeding
USD5,000,000; 
 (iv) is with a Purchaser Related Party (other than those employment agreements, confidentiality agreements, non-competition agreements or any other agreement of similar nature entered into in the Ordinary Course with employees or technical consultants) with an amount of over USD500,000; 

  
 108 

 (v) involves (A) Indebtedness (other than a guaranty) or (B) an extension of
credit, a guaranty, surety or assumption of any obligation or any secondary or contingent Liabilities, deed of trust, or the grant of a Encumbrance (with an amount higher than USD2,000,000); 

(vi) involves the lease, license, sale, use, disposition or acquisition of a business involving payments or revenues in excess of USD5,000,000;

 (vii) involves the waiver, compromise, or settlement of any dispute, claim, litigation or arbitration with an amount higher than
USD5,000,000; 
 (viii) involves the ownership or lease of, title to, use of, or any leasehold or other interest in, any personal property
(except for personal property leases in the Ordinary Course and involving payments of less than USD5,000,000 in the last twelve (12) months prior to the Closing Date or expected payments of less than USD5,000,000 in the next twelve
(12) months after the Closing Date); 
 (ix) involves the establishment, contribution to, or operation of a partnership, joint venture,
alliance or similar entity, or involving a sharing of profits or losses (including joint development and joint marketing Contracts), or any investment in, loan to or acquisition or sale of the securities, equity interests or assets of any Person,
involving payment of an amount higher than USD5,000,000; 
 (x) is with a Governmental Authority or sole-source supplier of any material
product or service (other than utilities); or 
 (xi) is an original equipment manufacturer agreement (including original equipment
manufacturer partnership agreements). 
 “Purchaser Owned IP” means all Intellectual Property owned or purported to be
owned by any of the Purchaser Group Companies. 
 “Purchaser Registered IP” means Purchaser Owned IP issued by, registered,
recorded or filed with, renewed by or the subject of a pending application before any Governmental Authority, Internet domain name registrar or other authority. 

“Purchaser Related Party” means (i) any member, shareholder or equity interest holder who, together with its Affiliates,
directly or indirectly holds no less than 5% of the total outstanding share capital of any Purchaser Group Company, (ii) any director, commissioner or officer of any Purchaser Group Company, in each case of (i) and (ii), excluding any
Purchaser Group Company. 
 “Purchaser Share Incentive Plan” means the employee share incentive plan of Purchaser, as
amended from time to time. 
 “Purchaser Territory Data” has the meaning set forth on Exhibit 10.1(C). 

  
 109 

 “Purchaser Shares” means Purchaser Ordinary Shares and Purchaser Series G
Preference Shares. 
 “Receiving Party” means either Purchaser or Seller, when receiving a Claim from the other Party. 

“Regulatory Clean Team Agreement” means that certain Regulatory Clean Team Agreement dated as of March 1, 2018, by and
between Old Sake Parent and Seller Parent, as amended. 
 “Related to the Seller Business” means primarily related to, or
used primarily in connection with, the Seller Business. 
 “Representative” means with respect to any Person, any officer,
manager, director, commissioner, employee, agent, attorney, accountant or advisor of such Person. 
 “Restaurant Merchant”
has the meaning set forth on Exhibit 10.1(C). 
 “Restricted Period” means the date that is the later of five
(5) years after the Closing Date and one (1) year after Seller ceases to own any Equity Securities of Purchaser. 
 “Rider
and Eater Receivables” means the receivables from (i) riders for their use of transportation services, (ii) eaters for their use of food delivery services, or (iii) in the case of Purchaser only, any amounts held in any rider
or eater wallets, in each case (x) with respect to Seller and its Affiliates, under the Seller Assigned Contracts, or (y) with respect to Purchaser and its Affiliates, under the Purchaser Contracts. 

“RSU Exchange Ratio” means the quotient of (i) the implied value of one share of Seller Parent Common Stock reflected in
the valuation of the shares of preferred stock issued by Seller Parent in its most recent issuance of shares of its preferred stock, divided by (ii) the implied value of one ordinary share of Old Sake Parent reflected in the valuation of the
Series G preference shares of Old Sake Parent issued by Old Sake Parent in its most recent issuance of its Series G preference shares, in each case as of immediately prior to the Closing. 

“Sake Drivers” means driver partners providing transportation services under Contracts to which Purchaser or any of its
Affiliates is a party. 
 “Seller Assigned Contracts” means, collectively, the Dutch Assigned Contracts or Local Assigned
Contracts. 
 “Seller Benefit Plan” means any (i) employee benefit plan, program, policy, practice, Contract or other
arrangement, including without limitation any compensation, severance, provident fund contributions, pension scheme contributions, termination pay, deferred compensation, retirement, profit sharing, incentive, bonus, health, performance awards,
share or share-related awards, fringe benefits or other employee benefits or remuneration of any kind, and (ii) any employment, indemnification, consulting, severance, retention or stay-bonus agreement, or
change-in control agreement, in each case, whether written, unwritten or otherwise, and in each case that is or has been sponsored, maintained, contributed to or required to be contributed to by Seller and any
of its Affiliates (including the Local Support Companies) for the benefit of any Seller Business Employee and, in the case of Transferred Statutory Plans only, for the benefit of any former employee, former temporary worker, former officer, former
consultant, former director, former commissioner or former individual service provider or their beneficiaries or dependents. 

  
 110 

 “Seller Books and Records” means all records, papers and instruments of
Seller, any Local Support Company or any other Subsidiary of Seller Related to the Seller Business, including all operational and customer-related records, accounting and financial records, employment and benefits-related records, environmental
records and reports, sales records, and records relating to suppliers. 
 “Seller Business” means the business conducted by
Seller Parent and its Subsidiaries (including Seller and its Subsidiaries (including the Local Support Companies)), as of the Closing Date, across all of the Territories, of (i) connecting, enabling or facilitating, through a technology
application, providers and consumers of each of the following services: ridesharing (including motorcycles), delivery (food and otherwise), and logistics and all ancillary and related activity thereto and (ii) car, taxi and private hire vehicle
rentals and leases; provided, however, that the Seller Business shall not include the business of Lion City Rentals, Viet Car Rental Company Limited, a Vietnamese company and Uber Philippines Centre of Excellence LLC. 

“Seller Business Employees” means, as of immediately prior to the Closing Date, all employees, officers, directors and
commissioners employed by the Local Support Companies, but excluding the Excluded Employees. For the avoidance of doubt, each Seller Business Employee is accounted for on the Seller Business Employee Census. 

“Seller Data Room” means Seller’s virtual data room set up for this Transaction located at rrdvenue.com. 

“Seller Disclosure Letter” means the letter dated the same date as this Agreement from Seller to Purchaser in relation to the
representations and warranties set out in Article V. 
 “Seller Fundamental Warranties” means the representations and
warranties set forth in the first, second and fourth sentence of Section 4.1 (Organization, Good Standing and Qualification)), Section 4.2(a) (except with respect to Lion City Rentals) and (d) (Capitalization and Voting Rights),
Section 4.3 (Corporate Structure; Subsidiaries) (except with respect to foreign qualifications and licenses in the first sentence and except with respect to Lion City Rentals), Section 4.4 (Authorization), Section 4.5(x)(B) (Consents;
No Conflicts), Section 4.7 (Taxes), Section 4.13(a) (Title; Properties), and Section 4.18 (Brokers). 

  
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 “Seller Material Contracts” means, collectively, each Contract to which
Seller, any Local Support Company or any other Subsidiary of Seller, in each case Related to the Seller Business, is a party or any of their respective properties or assets are bound, or any other Seller Assigned Contract, excluding any Contracts
that are included in Excluded Assets, that: 
 (i) involves obligations (contingent or otherwise), payments or revenues in excess of
USD2,000,000 in the last twelve (12) months prior to the Closing Date or expected obligations (contingent or otherwise), payments or revenues in excess of USD2,000,000 in the next twelve (12) months after the Closing Date; 

(ii) is required to be Disclosed under Section 4.15(c) of the Seller Disclosure Schedule; 

(iii) involves any provisions providing for exclusivity, non-competition, non-solicitation, “change in control”, “most favored nations”, rights of first refusal or first negotiation or similar rights; 

(iv) is with a Seller Related Party (other than those employment agreements, confidentiality agreements,
non-competition agreements or any other agreement of similar nature entered into in the Ordinary Course with employees or technical consultants) with an amount higher than USD500,000; 

(v) involves (A) Indebtedness (other than a guaranty) or (B) an extension of credit, a guaranty, surety or assumption of any
obligation or any secondary or contingent Liabilities, deed of trust, or the grant of a Encumbrance (with an amount higher than USD500,000); 

(vi) involves the lease, license, sale, use, disposition or acquisition of a business involving payments or revenues in excess of USD2,000,000;

 (vii) involves the waiver, compromise, or settlement of any dispute, claim, litigation or arbitration with a claim amount higher than
USD2,000,000; 
 (viii) involves the ownership or lease of, title to, use of, or any leasehold or other interest in, any personal property
(except for personal property leases in the Ordinary Course and involving payments of less than USD2,000,000 in the last twelve (12) months prior to the Closing Date or expected payments of less than USD2,000,000 in the next twelve
(12) months after the Closing Date); 
 (ix) involves the establishment, contribution to, or operation of a partnership, joint venture,
alliance or similar entity, or involving a sharing of profits or losses (including joint development and joint marketing Contracts), or any investment in, loan to or acquisition or sale of the securities, equity interests or assets of any Person,
involving payment of more than USD2,000,000; 
 (x) is with a Governmental Authority, state-owned enterprise, or sole-source supplier of any
material product or service (other than utilities); or 
 (xi) is an original equipment manufacturer Agreement (including original equipment
manufacturer partnership agreements) relating to the Seller Business. 

  
 112 

 “Seller Parent” means Uber Technologies, Inc., a Delaware corporation and
the ultimate parent of Seller. 
 “Seller Parent Common Stock” means the Class A Common Stock, par value USD0.00001
per share, of Seller Parent. 
 “Seller Parent Restricted Stock Unit” means a restricted stock unit awarded pursuant to the
Seller Parent Share Incentive Plans. 
 “Seller Parent Share Awards” means the Seller Parent Restricted Stock Units, Seller
Parent Stock Options and/or Seller Parent Stock Appreciation Rights. 
 “Seller Parent Share Incentive Plan” means the
Seller Parent Amended and Restated 2010 Stock Plan or the Seller Parent 2013 Equity Incentive Plan, as amended. 
 “Seller Parent
Stock Appreciation Right” means a stock appreciation right in respect of Seller Parent Common Stock awarded pursuant to the Seller Parent Share Incentive Plans. 

“Seller Parent Stock Option” means an option to purchase Seller Parent Common Stock pursuant to the Seller Parent Share
Incentive Plans. 
 “Seller Related Party” means (i) any member, shareholder or equity interest holder who, together
with its Affiliates, directly or indirectly holds no less than 5% of the total outstanding share capital of Seller or any of its Subsidiaries, (ii) any director, commissioner or officer of Seller or any of its Subsidiaries, in each case of
(i) and (ii), excluding Seller and any of its Subsidiaries. 
 “Seller Territory Data” has the meaning set forth on
Exhibit 10.1(C). 
 “Seller Transferred Business” means, collectively, the Acquired Assets and the Assumed
Liabilities (excluding, for the avoidance of doubt, any Excluded Assets or Excluded Liabilities). 
 “Series G Preference Share
Amount” means an amount, calculated in U.S. dollars, equal to the number of Purchaser Series G Preference Shares issued pursuant to this Agreement multiplied by USD5.54191. 

“Share Option Exchange Ratio” means the quotient of (i) the implied value of one share of Seller Parent Common Stock
reflected in the valuation of the shares of preferred stock issued by Seller Parent in its most recent issuance of shares of its preferred stock, divided by (ii) the implied value of one ordinary share of Old Sake Parent reflected in the
valuation of the Series G preference shares of Old Sake Parent issued by Old Sake Parent in its most recent issuance of its Series G preference shares, in each case as of immediately prior to the Closing. 

  
 113 

 “Share Option/SAR To RSU Exchange Ratio” means the quotient of (i) the
difference between (x) the implied value of one share of Seller Parent Common Stock reflected in the valuation of the shares of preferred stock issued by Seller Parent in its most recent issuance of shares of its preferred stock, minus
(y) the per share exercise price or base price, as applicable, of the share of Seller Parent Common Stock subject to the Seller Parent Stock Option or Seller Parent Stock Appreciation Right, as applicable, divided by (ii) the implied value
of one ordinary share of Old Sake Parent reflected in the valuation of the Series G preference shares of Old Sake Parent issued by Old Sake Parent in its most recent issuance of its Series G preference shares, in each case as of immediately prior to
the Closing. 
 “Shared Contract” means any Contract that is used in the Seller Business and is also used by Seller or its
Affiliates in the operation of their business in the Ordinary Course outside the Territories, and is set forth on Exhibit 10.1(D) to the extent it would be a Seller Material Contract if it were a Seller Assigned Contract.
To the extent a Shared Contract is a BPO Contract, the Parties agree that Seller will not attempt to make the efforts specified in Section 1.8 until the end of the applicable Transition Period (e.g., rides or Uni EATS) specified in the
Transition Services Agreement, unless expressly set forth otherwise in the Transition Services Agreement. 
 “Shareholders
Agreement” means the Amended and Restated Shareholders Agreement, dated as of the Closing Date, among Purchaser, Seller and certain other parties named therein. 

Singapore Employment Act” means the Employment Act, Chapter 91 of Singapore. 

“Singapore Protected Employees” means the Seller Business Employees to which Section 18A of the Employment Act, Chapter
91 of Singapore applies. 
 “Social Insurance” means any form of social insurance required under Applicable Law, including
social security, employment, unemployment or employee insurance, workmen’s compensation and medical insurance, and any contribution payable therewith to any Governmental Authority or social welfare organization. 

“SoftBank” means SoftBank Group Capital Limited, a company formed under the laws of England and Wales or SB Cayman 2 Ltd, as
applicable. 
 “Subsidiary” means, with respect to a Person, (i) any corporation of which a majority of the securities
entitled to vote generally in the election of directors or commissioners thereof, at the time as of which any determination is being made, are owned by such Person, either directly or indirectly, (ii) any joint venture, general or limited
partnership, limited liability company or other legal entity in which such Person is the record or beneficial owner, directly or indirectly, of a majority of the voting interests or the general partner, or (iii) any variable interest entity
Controlled by such Person or its Subsidiary. 

  
 114 

 “Tax” or “Taxes” means (i) all forms of taxes and all
other charges, fees, levies, duties, deficiencies or other similar assessments or Liabilities in the nature of a tax, whenever created or imposed, and shall include, without limiting the generality of the foregoing, all income or profits taxes
(including, but not limited to income, payroll and employee withholding taxes (including employment, social security or unemployment (or similar) taxes), sales and use taxes, ad valorem taxes, value added taxes (including business taxes and goods
and services taxes)), withholding taxes, excise taxes, escheat, franchise taxes, business license taxes, real property taxes, stamp taxes, transfer taxes, severance taxes, occupation taxes, premium or windfall profit taxes, estate duty, customs and
other import or export duties and other obligations of the same or of a similar nature to any of the foregoing including all interest, penalties and additions imposed with respect to such amounts, (ii) any Liability with respect to any item
referred to in clause (i) by reason of being a member of a consolidated, unitary or combined group, and (iii) any Liability with respect to an item referred to in clause (i) or (ii) of any other Person imposed on or payable by a
company pursuant to any Applicable Law or by reason of its affiliation with such Person, any Contract or Tax sharing or Tax allocation agreement or arrangement (other than customary commercial leases, financing agreements or Contracts with
unaffiliated third parties entered into in the Ordinary Course that are not primarily related to Taxes) or successor Liability. 

“Tax Claim” means a Claim pursuant to Section 9.1(a) (as it relates to a breach of any representation or warranty set
forth in Section 4.7), Section 9.2(a) (as it relates to a breach of any representation or warranty set forth in Section 5.8), Section 9.1(c) (as it relates to Taxes), Section 9.1(d), Section 9.1(e) (as it relates to
Taxes), Section 9.2(c) (as it relates to Taxes), or Section 9.2(d). 
 “Tax Returns” means all U.S. federal,
state, local, provincial and non-U.S. returns, declarations, computations, notices, statements, claims, reports, schedules, forms and information returns, including any attachment thereto or amendment thereof,
required or permitted to be supplied to, or filed with, a Governmental Authority with respect to Taxes. 
 “Territories”
means the following countries: Singapore, Malaysia, Indonesia, Thailand, Myanmar, Cambodia, Vietnam and the Philippines. 
 “Trade
Secrets” means confidential or proprietary information and any know how and other inventions, processes, models, methodologies and other information that (i) derives economic value (actual or potential) from not being generally known
to other persons who can obtain economic value from its disclosure or use and (ii) is the subject of efforts that are reasonable under the circumstances to maintain its secrecy. 

“Trademarks” means trade names, logos, trademarks, service marks, service names, trade dress, company names, collective
membership marks, certification marks, slogans, toll-free numbers, and other forms indicia of origin, whether or not registerable as a trademark in any given country, together with registrations and applications therefor, and the goodwill associated
with any of the foregoing. 
 “Transaction” means the Dutch Assignment, the LSE Assignment, the issuance of the Purchaser
Series G Preference Shares and the other transactions contemplated hereby and in the Transaction Documents (excluding the liquidation or winding up of any Local Support Companies, the Purchaser Restructuring and the transactions contemplated in
Section 7.6). 

  
 115 

 “Transaction Documents” means, collectively, this Agreement, the Investor
Agreements, the Transition Services Agreement, the Global Roaming Agreement, the D&O Indemnification Agreement, the Guarantee, the Seller Disclosure Letter, the Purchaser Disclosure Letter, the Bills of Sale, the Local Promissory Notes and all
other documents and certificates required to be executed by the Parties and their Subsidiaries pursuant to this Agreement and/or effect the Transaction. 

“Transition Period Outside End Date” has the meaning given to such term in the Transition Services Agreement. 

“Transition Services Agreement” means the transition services agreement as of the date hereof between Purchaser and Uber
B.V.. 
 “U4B” means the B2B enterprise platform of Seller and its Affiliates. 

“Uni EATS Assets” means any Dutch Assigned Contracts between Uni Portier B.V. and any eaters, couriers or Restaurant
Merchants. 
 “Uni EATS Liabilities” means any Dutch Assumed Liabilities of Uni Portier B.V. 

“U.S. GAAP” means generally accepted accounting principles in the United States of America. 

Other capitalized terms defined elsewhere in this Agreement and not defined in this Section 5.1 shall have the meanings assigned to such
terms in this Agreement. 
 Section 10.2 Governing Law. This Agreement and any disputes or claims arising out of, relating to or
in connection with its subject matter or formation (including non-contractual disputes or claims) are governed by and shall be construed in accordance with the law of England and Wales; provided, that
the provisions of Section 6.9 shall be governed by the laws of the Cayman Islands; and provided, further, that the transfer of the Dutch Acquired Assets shall be governed by Dutch law. 

Section 10.3 Assignment; Binding Upon Successors and Assigns. Neither this Agreement nor any of the rights, interests or
obligations under this Agreement may be assigned or delegated, in whole or in part, by operation of law or otherwise by any of the Parties without the prior written consent of the other Parties, and any such assignment without such prior written
consent shall be null and void, except that either Seller or Purchaser may assign its rights (but not its obligations) under this Agreement to any direct or indirect wholly-owned Subsidiary of such Party (and, with respect to Seller, any direct or
indirect wholly-owned Subsidiary of Seller Parent) without the prior consent of the other Party; provided, however, in each case, that such assigning Party shall remain liable for all of its obligations under this Agreement.
Subject to the preceding sentence, this Agreement shall be binding upon, inure to the benefit of, and be enforceable by, the Parties and their respective successors and assigns. 

  
 116 

 Section 10.4 Severability. Each of the provisions of this Agreement or any other
Transaction Agreement is severable. If any such provision is held to be or becomes illegal, invalid or unenforceable in any respect under the law of any jurisdiction, it shall have no effect in that respect and, (i) the Parties shall use their
reasonable efforts to replace such provision with a suitable and equitable provision in order to carry out as closely as is possible, so far as may be valid and enforceable, the intent and purpose of such illegal, invalid or unenforceable provision
and (ii) the remainder of this Agreement or the applicable other Transaction Agreement and the application of such provision to other persons or circumstances shall not be affected by such illegality, invalidity or unenforceability, nor shall
such illegality, invalidity or unenforceability affect the validity or enforceability of such provision, or the application thereof, in any other jurisdiction. 

Section 10.5 Counterparts. This Agreement may be executed in one or more counterparts, all of which shall be considered one and
the same agreement and shall become effective when one or more counterparts have been signed by each of the Parties and delivered to the other Parties. Signatures transmitted by facsimile or other electronic transmission (including PDF) shall be
accepted as originals for all purposes of this Agreement. 
 Section 10.6 Other Remedies. Except as otherwise expressly provided
herein, any and all remedies herein expressly conferred upon a Party hereunder shall be deemed cumulative with and not exclusive of any other remedy conferred hereby or by law on such Party, and the exercise of any one remedy shall not preclude the
exercise of any other. Notwithstanding anything to the contrary contained herein, the Parties agree that rescission of this Agreement is not a remedy available to either Party hereunder. Subject to Section 9.7 and, in the case of
representations and warranties, unless otherwise set forth in Section 4.11(vi), Section 4.15(h), Section 5.12(vi) or Section 5.15(i) or, in the case of covenants and agreements, unless otherwise expressly set forth in this
Agreement, the Parties intend that each representation, warranty, covenant, indemnity and agreement set forth in this Agreement shall have independent significance; if there is any inaccuracy, breach or violation by any Party of a representation,
warranty, covenant or agreement contained in this Agreement and another Party has a Claim with respect thereto, (i) the fact that there exists another representation, warranty, covenant or agreement of such Party in this Agreement relating to
the same subject matter (regardless of the relative levels of specificity) which was not inaccurate, breached or violated shall not detract from or mitigate the fact that the first representation, warranty, covenant or agreement was inaccurate,
breached or violated, as the case may be, and such other Party has a Claim with respect thereto, and (ii) the fact that there exists another representation, warranty, covenant or agreement of such Party relating to the same subject matter
(regardless of the relative levels of specificity) in this Agreement which was inaccurate, breached or violated shall not detract from the fact that the first representation, warranty, covenant or agreement was also inaccurate, breached or violated,
as the case may be, and such other Party has a Claim with respect to the inaccuracy, breach or violation by the first Party of each such representation, warranty, covenant or agreement. 

  
 117 

 Section 10.7 Amendments and Waivers. Any term or provision of this Agreement may
be amended, and the observance of any term of this Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively), only by a writing signed by the Party to be bound thereby. The waiver by a Party of
any breach hereof or default in the performance hereof shall not be deemed to constitute a waiver of any other default or any succeeding breach or default. The failure of any Party to enforce any of the provisions hereof shall not be construed to be
a waiver of the right of such Party thereafter to enforce such provisions. 
 Section 10.8 Specific Performance. Each of the
Parties acknowledges and agrees that the other Party would be damaged irreparably in the event any of the provisions of this Agreement are not performed in accordance with their specific terms or otherwise are breached. Accordingly, and without
limitation to Section 6.9(d), each of the Parties agrees that the other Party shall be entitled to an injunction or injunctions to prevent breaches of the provisions of this Agreement and to enforce specifically this Agreement and the terms and
provisions hereof, without posting a bond or proving the inadequacy of monetary damages as a remedy, in any action instituted before the Arbitral Tribunal or in any court of England and Wales having jurisdiction over the Parties and the matter, in
addition to any other remedy to which it may be entitled, at law or in equity. 
 Section 10.9 Notices. Any notice or other
communication required or permitted to be delivered to any Party under this Agreement shall be in writing and shall be deemed properly delivered, given and received (i) upon receipt when delivered by hand, (ii) upon transmission, if sent
by facsimile or electronic transmission (in each case with receipt verified by electronic mail or telephone confirmation) during regular business hours at the location of the addressee and otherwise on the next Business Day, or (iii) three (3)
Business Days after being sent by overnight courier or express delivery service (with proof of delivery), provided, that in each case the notice or other communication is sent to the address or facsimile telephone number set forth
beneath the name of such Party below (or to such other address or facsimile telephone number as such Party shall have specified in a written notice given to the other Parties): 

(a) If to Seller: 

Uber Technologies, Inc. 

1455 Market Street, Suite 400 

San Francisco, CA 94103 

United States of America 

Attention: General Counsel 

Email: twest@uber.com 

with copies (which shall not constitute notice) to: 

Gibson, Dunn & Crutcher LLP 

555 Mission Street 

San Francisco, CA 94105 

United States of America 

Attention: Stewart L. McDowell 

Facsimile Number: +1 415 393 8322 

Email: smcdowell@gibsondunn.com 

  
 118 

 (b) If to Purchaser: 

Grab Holdings Inc. 

c/o 28 Sin Ming Lane, #01-143 

Midview City, Singapore 573972 

Attention: Mr. Anthony Tan 

Facsimile Number: Anthony.tan@grab.com 

with a copy (which shall not constitute notice) to: 

Hughes Hubbard & Reed LLP 

One Battery Park Plaza 

New York, NY 10004-1482 

United States of America 

Attention: Ken Lefkowitz 

Facsimile Number: +1 (212) 299-6557 

Email: ken.lefkowitz@hugheshubbard.com 

Section 10.10 Interpretation; Rules of Construction. When a reference is made in this Agreement to Exhibits, such reference shall
be to an Exhibit to this Agreement unless otherwise indicated. When a reference is made in this Agreement to Sections, such reference shall be to a Section of this Agreement unless otherwise indicated. When a reference is made in this Agreement to
Articles, such reference shall be to an Article of this Agreement unless otherwise indicated. The words “include”, “include” and “including” when used herein shall be deemed in each case to be followed by the words
“without limitation.” References to “USD” or “US$” or “$” means United States Dollars. The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or
interpretation of this Agreement. Reference to the subsidiaries of an entity shall be deemed to include all direct and indirect subsidiaries of such entity. The Parties agree that they have been represented by legal counsel during the negotiation
and execution of this Agreement and, therefore, waive the application of any law, regulation, holding or rule of construction providing that ambiguities in an agreement or other document shall be construed against the Party drafting such agreement
or document. In the event of a conflict between any of the Transaction Documents or any Exhibit or Schedule hereto, this Agreement shall govern unless the context otherwise requires. The statement that any information, document or other material has
been “delivered,” “provided” or “made available” shall mean that such information, document or material (i) with respect to Seller, was available for review in the Seller Data Room as of 11:59 p.m. on the day that
is one (1) day immediately prior to the Closing Date; or (ii) with respect to Purchaser, was available for review in the Purchaser Data Room as of 11:59 p.m. on the day that is one (1) day immediately prior to the Closing Date. If the
last day of a period during which any action has to be taken under this Agreement is not a Business Day, such period shall be extended through the end of the next Business Day. “Representation” or “representations” as used in
this Agreement is to be interpreted under English law as a representation excluding tortious rights and remedies. 
 Section 10.11
Third Party Beneficiary Rights. No term of this Agreement is enforceable under the Contracts (Rights of Third Parties) Act 1999 by a Person who is not a party to this Agreement (other than any Affiliate of Purchaser or Seller entitled to
indemnification under Section 9.1 or Section 9.2, respectively) (any such person, a “Third Party”). The Parties may by agreement terminate or vary any term of this Agreement without the consent of any Third Party. 

  
 119 

 Section 10.12 Dispute Resolution. The Parties agree that any claim, dispute,
difference or controversy of whatever nature arising under, out of, relating to or in connection with this Agreement (including a claim, dispute, difference or controversy regarding its existence, termination, validity, interpretation, performance,
breach, the consequences of its nullity or any non-contractual obligations arising out of or in connection with this Agreement), but excluding any claim, dispute, difference or controversy of whatever nature
arising under, out of, relating to or in connection with Article III or Section 9.11(e) (a “Dispute”), they shall notify in writing the other Parties and attempt in good faith to resolve such Dispute. If no such
resolution can be reached during the 30-day period following the date of such written notice (the “Negotiation Period”), then such Dispute shall be referred to and finally settled by arbitration in
accordance with the LCIA Arbitration Rules (the “Rules”) in force as of the date of this Agreement and as modified by this Section 10.12, which Rules shall be deemed incorporated into this Section 10.12 and capitalised
terms used in this Section 10.12 which are not otherwise defined in this Agreement have the meaning given to them in the Rules. 
 (a)
The number of arbitrators shall be three (3), one of whom shall be nominated by the Claimant(s), one by the Respondent(s) and the third (3rd) of whom, who shall act as presiding arbitrator, shall be nominated by the two (2) party-nominated
arbitrators, provided, that if the third (3rd) arbitrator has not been nominated within thirty-five (35) days of the nomination of the second party-nominated arbitrator such third (3rd) arbitrator shall be appointed by the LCIA
Court. Notwithstanding the provisions of this Section 10.12(a), the LCIA Court may order expedited formation of the arbitral tribunal pursuant to Article 9A of the Rules and for that purpose the LCIA Court may elect and appoint the presiding
arbitrator at any time. Notwithstanding any provision to the contrary in the Rules, the Parties may nominate and the LCIA Court may appoint arbitrators (including the presiding arbitrator) from among the nationals of any country, whether or not a
Party is a national of that country. 
 (b) The seat or legal place of arbitration shall be London, England, and the language used in the
arbitral proceedings shall be English. All documents submitted in connection with the arbitral proceedings shall be in the English language or, if in another language, accompanied by an English translation. Sections 45 and 69 of the Arbitration Act
1996 shall not apply. 

  
 120 

 (c) Having regard to the Arbitral Tribunal’s general duty set out in section 33(1) of
the Arbitration Act 1996, the Parties hereby agree that, without derogating from its other powers, the Arbitral Tribunal may, following a written request by any Party at any time after the response is due, give directions as to a procedure (the
“Summary Procedure”) for determining (i) whether any claim(s), counterclaim(s) or part(s) thereof is reasonably arguable and/or (ii) whether any reasonably arguable defense to the claim(s), counterclaim(s) or part(s)
thereof exists and thereafter make an award (which may be a final award) if it determines, respectively, that (x) any claim(s), counterclaim(s) or part(s) thereof is not reasonably arguable or (y) no such reasonably arguable defense
exists. The Arbitral Tribunal shall exercise its discretion under the Arbitration Act 1996 to adopt a procedure suitable for the determination of a request made under this Section 10.12(c) consistently with its duty as set out in section 33(2)
of the Arbitration Act 1996. As part of the Summary Procedure, the Party requesting the Summary Procedure shall be required to make a written submission as to why any claim(s), counterclaim(s) or part(s) thereof is appropriate for summary
determination and every other party to the arbitration shall have the opportunity to submit a written response to such submission. The Parties acknowledge and agree that this Section 10.12(c) provides for due process and gives each Party
adequate opportunity to be heard, and that no Party shall challenge or resist enforcement of an award made pursuant to this Section 10.12(c) on the basis of a failure of due process or lack of opportunity to be heard, whether under Article
V(1)(b) of the 1958 New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, Section 68(2)(a) of the Arbitration Act 1996 or otherwise. 

(d) Each Party agrees that any arbitration under this Section 10.12 shall be confidential to the Parties and the arbitrators and that each
Party shall therefore keep confidential, without limitation, the fact that the arbitration has taken place or is taking place, all non-public documents produced by any other Party for the purposes of the
arbitration, all awards in the arbitration and all other non-public information provided to it in relation to the arbitral proceedings, including hearings, save to the extent that disclosure may be requested
by a regulatory authority, or required of it by legal duty, to protect or pursue a legal right or to enforce or challenge an award in bona fide legal proceedings before a state court or other judicial authority. 

(e) The law of this arbitration agreement, including its validity and scope, shall be the law of England and Wales, and the law of England and
Wales shall govern this Section 10.12 and any non-contractual provisions arising out of or in connection with this Section 10.12. 

(f) This agreement to arbitrate shall be binding upon the Parties, their successors and permitted assigns. 

Section 10.13 Process Agent. 

(a) Each of Seller and Purchaser irrevocably appoints Law Debenture Corporate Services Limited as its agent under this Agreement, and as the
agent of the Local Support Companies or the Purchaser Group Companies that are a party to a Bill of Sale, respectively, under the applicable Bill of Sale, for service of process in England and Wales, and agrees that the process by which any
proceedings are commenced in the courts of England and Wales in support of, or in connection with, an arbitration commenced pursuant to Section 10.12 may be served on it by being delivered to Law Debenture Corporate Services Limited at Fifth
Floor, 100 Wood Street, London EC2V 7EX. If such person is not or ceases to be effectively appointed to accept service of process on behalf of a Party, or ceases to be able to act as agent for service of process under this Section 10.13(a), or
ceases to have an address in England or Wales, that Party shall immediately and irrevocably appoint a further person in England or Wales (that shall be reasonably acceptable to the other Parties) to accept service of process on its behalf, and shall
notify the other Parties accordingly within ten (10) Business Days. 

  
 121 

 (b) Each Party agrees that failure by a process agent to notify it of any process will not
invalidate the relevant proceedings or render service of those proceedings ineffective. 
 (c) Nothing in this Section 10.13 shall
affect the right of any Party to serve process in any other manner permitted by Applicable Law. 
 Section 10.14 Disclosure
Letters. The Seller Disclosure Letter has been arranged into separate parts corresponding to the subsections of Article IV. The Purchaser Disclosure Letter has been arranged into separate parts corresponding to subsections of Article V.
Information set forth in a part of Disclosure Letters shall be deemed to be Disclosed for purposes of the corresponding Section or subsection of this Agreement and no disclosure made in any particular part of the Disclosure Letters shall be deemed
made in any other part unless (i) expressly made therein (by cross-reference or otherwise) or (ii) it is reasonably apparent on the face of such disclosure that such disclosure applies to such other representation, warranty or covenant, as
applicable. No reference to or disclosure of any item or other matter in the Disclosure Letters shall be construed as an admission or indication that such item or other matter is material (nor shall it establish a standard of materiality for any
purpose whatsoever) or that such item or other matter is required to be referred to or Disclosed in the Disclosure Letters. The information set forth in the Disclosure Letters is Disclosed solely for the purposes of this Agreement, and no
information set forth therein shall be deemed to be an admission by any Party hereto to any third party of any matter whatsoever, including of any violation of Applicable Law or breach of any Contract. Nothing contained in the Disclosure Letters is
intended to broaden the scope of any representation or warranty contained in this Agreement, or to limit the right of Purchaser or any of its Affiliates to indemnification under any provision of Section 9.1 other than Section 9.1(a), or
the right of Seller or any of its Affiliates, to indemnification under any provision of Section 9.2 other than Section 9.2(a). 

Section 10.15 Entire Agreement. The Transaction Documents and the related exhibits and schedules, constitute the entire
understanding and agreement of the Parties with respect to the subject matter hereof and supersede all prior and contemporaneous agreements or understandings, inducements or conditions, express or implied, written or oral, between the Parties with
respect hereto (including, for the avoidance of doubt the term sheet executed by the representatives of certain of the Parties on November 21, 2017, the binding obligations of which are hereby terminated notwithstanding anything in that
document which purports to do otherwise) other than the Mutual NDA, the Regulatory Clean Team Agreement and the Due Diligence Clean Team Agreement (which shall remain in full force and effect, subject to Section 6.3). The express terms hereof
control and supersede any course of performance or usage of the trade inconsistent with any of the terms hereof. Each Party confirms that, in any event, without prejudice to any Liability for Fraud, the only rights or remedies in relation to any
representation, warranty, assurance, covenant, indemnity, undertaking or commitment given or action taken in connection with the Transaction Documents are those pursuant to such Transaction Document and the relating exhibits and schedules, and for
the avoidance of doubt and without limitation, no Party has any other right or remedy (whether by way of a claim for contribution or otherwise) in tort (including negligence) or for misrepresentation (whether negligent or otherwise, and whether made
prior to, and/or in this Agreement). 

  
 122 

 Section 10.16 No Set Off, Deduction or Counterclaim. Except as specifically
provided in Article III, every payment payable by a Party under this Agreement shall be made in full without any set off or counterclaim howsoever arising and shall be free and clear of, and without deduction of, or withholding for or on account of,
any amount which is due and payable to a Party under this Agreement. 
 Section 10.17 No Partnership. Nothing in this Agreement
or in any document referred to in it shall constitute any of the Parties a partner of any other, nor shall the execution, completion and implementation of this Agreement confer on any Party any power to bind or impose any obligations to any third
parties on any other Party or to pledge the credit of any other Party. 
 Section 10.18 Tax. Any payment made by or due from a
Party under, or pursuant to the terms of, this Agreement shall be free and clear of all Tax whatsoever save only for any deductions or withholdings required by Applicable Law on taxation. Each Party shall be entitled to deduct and withhold from any
payment pursuant to this Agreement to the extent required by Applicable Law. To the extent that amounts are so withheld or deducted by a Party, as applicable, such withholding or deduction shall be (i) remitted by such Party to the applicable
Tax authority and (ii) treated for all purposes of this Agreement as having been paid to the other Party. 
 Section 10.19
Language. This Agreement was negotiated in English and, to be valid, all certificates, notices, communications and other documents made in connection with it shall be in English. If all or any part of this Agreement or any such certificate,
notice, communication or other document is for any reason translated into any language other than English the English text shall prevail. Each of the Parties understands English and is content for all communications relating to this Agreement to be
served on it in English. 
 Section 10.20 Expenses. Except as set forth elsewhere in this Agreement, including in
Section 1.6, Section 1.8, Section 3.2(c), Section 6.1, Section 6.4, Section 6.6, Section 6.7, Section 7.4, Section 9.1, Section 9.2 and Section 9.11(e), all fees and expenses (other than Taxes)
incurred in connection with this Agreement and the Transaction (including, without limitation, fees of attorneys, accountants and financial advisors) shall be paid (or caused to be paid) by the Party incurring such fees or expenses. 

Section 10.21 Exchange Rate. All payments to be made between the Parties pursuant to this Agreement shall be made in US Dollars
based on the indicative exchange rate of the Oversea-Chinese Banking Corporation Limited for the relevant currencies applicable at the close of business on the Business Day preceding the date of the payment agreed upon between Parties. 

[Signature Page Next] 

  
 123 

 
			
	Purchaser
	
	GRAB HOLDINGS INC.
		
	By:	 	 /s/ Anthony Tan Ping Yeow

	Name: Anthony Tan Ping Yeow
	Title: Director

  

  
 [SIGNATURE PAGE TO
PURCHASE AGREEMENT] 

 
			
	Seller 1
	
	NEBEN, LLC, acting in its capacity as the general partner and in the name and for the risk and account of UBER INTERNATIONAL C.V.
		
	By:	 	 /s/ Todd Alan Hamblet

	Name: Todd Alan Hamblet
	Title: Manager

  

  
 [SIGNATURE PAGE TO
PURCHASE AGREEMENT] 

 
			
	Seller 2
	
	NEBEN, LLC, acting in its capacity as the general partner and in the name and for the risk and account of APPARATE INTERNATIONAL C.V.
		
	By:	 	 /s/ Todd Alan Hamblet

	Name: Todd Alan Hamblet
	Title: Manager

  

  
 [SIGNATURE PAGE TO
PURCHASE AGREEMENT]EX-10.20

 Exhibit 10.20 

EXECUTION VERSION 
  

 
  

AMENDED AND RESTATED 

SHAREHOLDERS’ AGREEMENT 

among 
 GXS BANK PTE.
LTD. 
 (as the Company) 

and 
 A5-DB HOLDINGS PTE. LTD., 
 SFG DIGIBANK INVESTMENT PTE. LTD. 

(as the Shareholders) 

and 
 GRAB HOLDINGS INC.

 SINGAPORE TELECOMMUNICATIONS LIMITED 

AA HOLDINGS INC. 

SINGTEL FINGROUP INVESTMENT PTE. LTD. 

(as Controlling shareholders, but only for purposes of the provisions expressly specified herein) 

and 
 the other
Shareholders named herein, 
 dated as of 

October 17, 2021 
  

 
  

 

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
	 ARTICLE I DEFINITIONS
	  	 	2	 
		
	 Section 1.1. Certain Defined Terms
	  	 	2	 
		
	 Section 1.2. List of Certain Other Defined Terms
	  	 	22	 
		
	 Section 1.3. Interpretation Act
	  	 	25	 
		
	 Section 1.4. Rules of Construction
	  	 	25	 
		
	 Section 1.5. Unlawful fetters
	  	 	27	 
		
	 Section 1.6. Expanded Prohibited Person
	  	 	27	 
		
	 ARTICLE II CONDITIONAL AGREEMENT; COOPERATION REGARDING DB LICENSE
	  	 	27	 
		
	 Section 2.1. Conditions to Grab’s Obligations
	  	 	27	 
		
	 Section 2.2. Conditions to Singtel’s Obligations
	  	 	28	 
		
	 Section 2.3. Responsibility for Satisfaction
	  	 	30	 
		
	 Section 2.4. Non-Satisfaction/Waiver
	  	 	30	 
		
	 Section 2.5. Effective Date
	  	 	30	 
		
	 Section 2.6. Changes to MAS Undertakings
	  	 	30	 
		
	 ARTICLE III BUSINESS; BUSINESS PLAN
	  	 	31	 
		
	 Section 3.1. Business
	  	 	31	 
		
	 Section 3.2. Business Plan and Initial Business Plan
	  	 	31	 
		
	 Section 3.3. Initial Business Plan Variation
	  	 	32	 
		
	 Section 3.4. Revised Business Plan
	  	 	32	 
		
	 Section 3.5. Revised Business Plan Variation
	  	 	32	 
		
	 Section 3.6. Subsequent Business Plans
	  	 	33	 
		
	 ARTICLE IV CAPITAL CONTRIBUTIONS
	  	 	34	 
		
	 Section 4.1. Amount and Timing of Capital Contributions in General; Increases of Capital
Contributions; Carve-Outs
	  	 	34	 
		
	 Section 4.2. First Capital Contribution; Subsequent Capital Contributions
	  	 	38	 
		
	 Section 4.3. Failure to Fund
	  	 	40	 
		
	 Section 4.4. Contribution by a Third Party
	  	 	40	 

  
 (i) 

 TABLE OF CONTENTS 

(continued) 
  

					
	 	  	Page	 
	 ARTICLE V THE BOARD
	  	 	41	 
		
	 Section 5.1. Size and Composition of the Board
	  	 	41	 
		
	 Section 5.2. Independent Directors
	  	 	42	 
		
	 Section 5.3. Singtel Director Appointment Rights
	  	 	43	 
		
	 Section 5.4. Grab Director Appointment Rights
	  	 	44	 
		
	 Section 5.5. MAS/Regulatory Compliance Principle
	  	 	45	 
		
	 Section 5.6. Board Meetings
	  	 	45	 
		
	 Section 5.7. Chairman
	  	 	46	 
		
	 Section 5.8. Voting
	  	 	46	 
		
	 Section 5.9. Board Reserved Matters
	  	 	46	 
		
	 Section 5.10. Resolutions in Writing
	  	 	47	 
		
	 Section 5.11. Directors’ Expenses
	  	 	47	 
		
	 Section 5.12. Related Party Transactions
	  	 	47	 
		
	 Section 5.13. Committees
	  	 	49	 
		
	 Section 5.14. Board Observers
	  	 	53	 
		
	 Section 5.15. Boards of Subsidiaries
	  	 	54	 
		
	 Section 5.16. D&O Policy
	  	 	55	 
		
	 Section 5.17. Fiduciary Duties
	  	 	55	 
		
	 ARTICLE VI MANAGEMENT
	  	 	55	 
		
	 Section 6.1. Appointment of CEO
	  	 	55	 
		
	 Section 6.2. Appointment of Key Management (Other Than CEO)
	  	 	56	 
		
	 Section 6.3. MAS/Regulatory Compliance Principle
	  	 	57	 
		
	 ARTICLE VII SHAREHOLDERS’ MEETINGS
	  	 	58	 
		
	 Section 7.1. Quorum
	  	 	58	 
		
	 Section 7.2. Voting Rights
	  	 	58	 
		
	 Section 7.3. Agreement to Vote
	  	 	58	 
		
	 Section 7.4. Shareholders’ Reserved Matters
	  	 	59	 
		
	 Section 7.5. Resolutions in Writing
	  	 	59	 
		
	 ARTICLE VIII TRANSFER OF SHARES
	  	 	60	 
		
	 Section 8.1. Restrictions on Transfers of Shares
	  	 	60	 
		
	 Section 8.2. No Avoidance
	  	 	61	 
		
	 Section 8.3. Right of First Refusal
	  	 	61	 
		
	 Section 8.4. Tag-Along Right
	  	 	64	 
		
	 Section 8.5. Actions to Maintain Singaporeaness
	  	 	66	 
		
	 Section 8.6. Permitted Transferees
	  	 	73	 
		
	 Section 8.7. MAS/ Regulatory Compliance Principle
	  	 	73	 
		
	 Section 8.8. Conditions to Transfers
	  	 	73	 

  
 (ii) 

 TABLE OF CONTENTS 

(continued) 
  

					
	 	  	Page	 
	 ARTICLE IX PREEMPTIVE RIGHTS
	  	 	74	 
		
	 Section 9.1. Preemptive Rights; Election to Purchase Offered Securities
	  	 	74	 
		
	 Section 9.2. Issuance to Third Party
	  	 	76	 
		
	 Section 9.3. Permitted Issuances
	  	 	76	 
		
	 Section 9.4. No Issuances to Prohibited Persons; MAS/Regulatory Compliance Principle
	  	 	77	 
		
	 ARTICLE X CERTAIN COVENANTS
	  	 	77	 
		
	 Section 10.1. Further Assurances
	  	 	77	 
		
	 Section 10.2. Confidentiality
	  	 	77	 
		
	 Section 10.3. Information Rights
	  	 	80	 
		
	 Section 10.4. [Reserved]
	  	 	82	 
		
	 Section 10.5. [Reserved]
	  	 	82	 
		
	 Section 10.6. MAS/Regulatory Compliance Principle
	  	 	82	 
		
	 Section 10.7. Indemnification
	  	 	82	 
		
	 Section 10.8. Oversight by Shareholder Employees
	  	 	82	 
		
	 Section 10.9. ESOP
	  	 	82	 
		
	 Section 10.10. Name and Brand
	  	 	83	 
		
	 Section 10.11. Outsourcing Principles
	  	 	83	 
		
	 Section 10.12. Grab covenants with respect to MUFG and other Persons
	  	 	83	 
		
	 Section 10.13. MUFG AI Technology Lab
	  	 	84	 
		
	 Section 10.14. Singtel covenants with respect to other Persons
	  	 	84	 
		
	 ARTICLE XI REPRESENTATIONS AND WARRANTIES
	  	 	85	 
		
	 Section 11.1. Representations in Respect of Each Party
	  	 	85	 
		
	 Section 11.2. Representations in Respect of Grab
	  	 	86	 
		
	 Section 11.3. Representations in Respect of Singtel
	  	 	87	 
		
	 Section 11.4. No Other Representations or Warranties
	  	 	88	 
		
	 Section 11.5. No Claims Against Directors, Officers and Employees
	  	 	88	 

  
 (iii) 

 TABLE OF CONTENTS 

(continued) 
  

					
	 	  	Page	 
	 ARTICLE XII IPO; GFG LIQUIDITY EVENTS
	  	 	88	 
		
	 Section 12.1. IPO of the Company; “Market
Stand-Off” Agreement
	  	 	88	 
		
	 Section 12.2. GFG Public Offering
	  	 	90	 
		
	 Section 12.3. Swap Option 1
	  	 	91	 
		
	 Section 12.4. Swap Option 2
	  	 	92	 
		
	 Section 12.5. Valuation; Regulatory Approvals; Implementation of the Swap; Post-Swap
Effectiveness
	  	 	93	 
		
	 Section 12.6. Regulatory Restrictions
	  	 	97	 
		
	 Section 12.7. Accelerated GFG Swap-Up
Discussions
	  	 	98	 
		
	 Section 12.8. New HoldCo Public Offering
	  	 	98	 
		
	 ARTICLE XIII EVENTS OF DEFAULT
	  	 	99	 
		
	 Section 13.1. Events of Default
	  	 	99	 
		
	 Section 13.2. Remedies
	  	 	101	 
		
	 ARTICLE XIV MISCELLANEOUS
	  	 	101	 
		
	 Section 14.1. Termination
	  	 	101	 
		
	 Section 14.2. Notices
	  	 	102	 
		
	 Section 14.3. No Partnership
	  	 	103	 
		
	 Section 14.4. Cumulative Remedies; Waivers
	  	 	104	 
		
	 Section 14.5. Binding Effect; Assignment
	  	 	104	 
		
	 Section 14.6. Severability
	  	 	104	 
		
	 Section 14.7. Counterparts
	  	 	104	 
		
	 Section 14.8. Entire Agreement; Previous Shareholders’ Agreement
	  	 	104	 
		
	 Section 14.9. Governing Law
	  	 	105	 
		
	 Section 14.10. Dispute Resolution
	  	 	105	 
		
	 Section 14.11. Specific Performance
	  	 	105	 
		
	 Section 14.12. Expenses, Payments and Stamp Duty
	  	 	105	 
		
	 Section 14.13. Amendments
	  	 	106	 
		
	 Section 14.14. No Third Party Beneficiaries
	  	 	107	 
		
	 Section 14.15. No Presumption
	  	 	107	 
		
	 Section 14.16. Covenants and Guarantees
	  	 	107	 
		
	 Section 14.17. Conflicts
	  	 	108	 
		
	 Section 14.18. Shareholder Group; Representative
	  	 	108	 

  
 (iv) 

 TABLE OF CONTENTS 

(continued) 
  

			
	 	  	Page

 LIST OF SCHEDULES AND EXHIBITS 
  

							
	Schedule I	 	 Capitalization; Shareholders’ Addresses and Share Ownership
	  			
	Exhibit A	 	 Initial Business Plan
	  			
	Exhibit B	 	 Form of Deed of Adherence
	  			
	Exhibit C	 	 List of Prohibited Persons
	  			
	Exhibit D	 	 Board Reserved Matters
	  			
	Exhibit E	 	 Shareholders’ Reserved Matters
	  			
	Exhibit F	 	 Disclosed Agreements
	  			
	Exhibit G	 	 Default Call Option and Default Put Option
	  			
	Exhibit H	 	 Form of Secondment Agreement
	  			
	Exhibit I	 	 Outsourcing Principles
	  			
	Exhibit J	 	 Safe Harbour Rules
	  			
	Exhibit K	 	 GFG Prohibited Investee List
	  			
	Exhibit L	 	 Form of Proxy and Power of Attorney
	  			
	Exhibit M	 	 Covenants and Guarantees
	  			
	Exhibit N	 	 Disclosures by Grab against the Representation in Section 11.2(i)(ii)
	  			
	Exhibit O	 	 Disclosures by Grab against the Representation in Section 11.1(h)
	  			

  
 (v) 

 GXS BANK PTE. LTD. 

AMENDED AND RESTATED 

SHAREHOLDERS’ AGREEMENT 

This AMENDED AND RESTATED SHAREHOLDERS’ AGREEMENT, dated as of October 17, 2021 (as may be amended and/or restated in accordance
with the provisions hereof, this “Agreement”), is entered into by and among: 
 1. GXS Bank Pte. Ltd. (formerly known as A5-DB Operations (S) Pte. Ltd.), a private limited company incorporated under the laws of Singapore (the “Company”); 

2. A5-DB Holdings Pte. Ltd., a private limited company incorporated under the laws of Singapore and a
direct wholly-owned Subsidiary of GFG (“Grab”); 
 3. SFG Digibank Investment Pte. Ltd., a private limited company
incorporated under the laws of Singapore and an indirect wholly-owned Subsidiary of Singtel Parent (“Singtel”); 
 4. solely
for purposes of Section 10.2, Section 11.1, Section 14.16, Article XIV (where applicable) and Exhibit M, Grab Holdings Inc., an exempted company limited by shares under the laws of the Cayman Islands (“Grab
Parent”); 
 5. solely for purposes of Section 10.2, Section 11.1, Section 14.16, Article XIV (where applicable) and
Exhibit M, Singapore Telecommunications Limited, a public company limited by shares under the laws of Singapore (“Singtel Parent”); 

6. solely for purposes of Section 10.2, Section 11.1, Section 12.7, Section 14.16, Article XIV (where applicable) and
Exhibit M, AA Holdings Inc., an exempted company limited by shares under the laws of the Cayman Islands (“GFG”) and an indirect subsidiary of Grab Parent; 

7. solely for purposes of Section 10.2, Section 11.1, Section 14.16, Article XIV (where applicable) and Exhibit M,
Singtel FinGroup Investment Pte. Ltd., a private company limited by shares under the laws of Singapore (“Singtel FinGroup”) and a direct subsidiary of Singtel Parent; and 

8. each of those Persons, severally and not jointly, who are or become from time to time signatories hereto or to any Deed of Adherence hereto.

 This Agreement is the “Shareholders’ Agreement” for purposes of the Constitution. 

RECITALS 
 WHEREAS,
immediately prior to the execution and delivery of the Subscription Agreement (as defined below), Grab owned the entirety of the issued and allotted Shares of the Company, comprising six (6) Class A Ordinary Shares at the time. 

 WHEREAS, Singtel entered into a letter agreement with, inter alia, GFG and the
Company dated as of May 17, 2021, pursuant to which Singtel subscribed for four (4) Class A Ordinary Shares (as may be amended and/or restated from time to time, the “Subscription Agreement”). 

WHEREAS, concurrently with the execution and delivery of the Subscription Agreement, the Parties entered into that certain Shareholders’
Agreement dated as of May 17, 2021 to provide certain rights and obligations of the Shareholders and the Company with respect to the Shareholders’ ownership of Shares (the “Previous Shareholders’ Agreement” ). 

WHEREAS, as of the date of this Agreement, Grab owns sixty per cent (60%) and Singtel owns forty per cent (40%) of the issued and allotted
Class A Ordinary Shares. Upon establishment of the employee share incentive plan (“ESOP”) with respect to the Option Pool (which consists of non-voting Class B Ordinary Shares), and
assuming there will be no other changes to the capitalization of the Company prior to the establishment of the ESOP, Grab would own approximately fifty-four per cent (54%) and Singtel would own approximately
thirty-six per cent (36%) of the issued and allotted Shares on a fully diluted basis. 
 WHEREAS,
the Parties desire to amend and restate the Previous Shareholders’ Agreement as hereinafter provided. 
 NOW, THEREFORE, in
consideration of the promises and the mutual covenants and agreements contained herein, and for other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows: 

ARTICLE I 
 DEFINITIONS

 Section 1.1. Certain Defined Terms. As used in this Agreement, the following terms shall have the following meanings:

 “ACRA” means the Accounting and Corporate Regulatory Authority of Singapore. 

“Affiliate” means, with respect to any Person, any other Person that, directly or indirectly, through one or more
intermediaries, Controls, is Controlled by, or is under common Control with, such first Person; provided, that: 
  

	 	(a)	 with respect to Singtel, only Singtel Parent and its Subsidiaries shall be deemed Affiliates of Singtel;
provided, further, that Singtel Parent and its Subsidiaries shall be Affiliates of Singtel only for so long as Singtel Parent Controls Singtel and, for the avoidance of doubt, the term “Affiliate” with respect to
Singtel shall, at all times, exclude Temasek Holdings (Private) Limited, any Person(s) who Controls Temasek Holdings (Private) Limited and its or their respective Subsidiaries (other than Singtel Parent and its Subsidiaries) (“Excluded
Group”) ; and provided, further, that if any Person (other than members of the Excluded Group) Controls Singtel Parent after the date of the Previous Shareholders’ Agreement, such Person shall be an Affiliate for purposes
of all provisions in this Agreement pertaining to Related Party Transactions (including Section 5.12) but no other purpose; 

  
 2 

	 	(b)	 with respect to Grab Parent, no shareholder, member, investor, partner or other constituent holder of Grab
Parent (other than AT and any of his Affiliates for so long as AT Controls Grab Parent) shall be deemed an Affiliate of Grab Parent unless such shareholder, member, investor, partner or other constituent holder acquires Control of Grab Parent after
the date of the Previous Shareholders’ Agreement, and in such event, such shareholder, member, investor, partner or other constituent holder shall be an Affiliate for purposes of all provisions in this Agreement pertaining to Related Party
Transactions (including Section 5.12) but no other purpose. For the avoidance of doubt, for so long as AT Controls Grab Parent, AT shall be an Affiliate of Grab Parent for all purposes of this Agreement; 

 

	 	(c)	 with respect to GFG, no shareholder, member, investor, partner or other constituent holder of GFG (other than
Grab Parent and any of its Affiliates, and, for so long as AT Controls GFG, AT and any of his Affiliates) shall be deemed an Affiliate of GFG unless such shareholder, member, investor, partner or other constituent holder acquires Control of GFG
after the date of the Previous Shareholders’ Agreement, and in such event, such shareholder, member, investor, partner or other constituent holder (other than Grab Parent and any of its Affiliates, and, for so long as AT Controls GFG, AT and
any of his Affiliates) shall be an Affiliate for purposes of all provisions in this Agreement pertaining to Related Party Transactions (including Section 5.12) but no other purpose; and provided, further, that Grab Parent and its
Affiliates shall be Affiliates of GFG and its Subsidiaries only for so long as Grab Parent Controls GFG. For the avoidance of doubt, for so long as AT Controls GFG (whether directly or indirectly through Grab Parent), AT shall be an Affiliate of GFG
for all purposes of this Agreement; 

  

	 	(d)	 with respect to any Person that is a fund or that is Controlled by a fund, the term “Affiliate” shall
include any of such fund’s general partners, fund managers, investment advisors or managers, and any Person Controlling such general partners, fund managers, investment advisors or managers; and 

 

	 	(e)	 with respect to any Person who is a natural person, the term “Affiliate” shall include (i) his
Close Relatives; and (ii) any other Person who is acting in concert with him in connection with this Agreement or the transactions contemplated hereunder pursuant to an agreement or understanding (whether formal or informal).

 “Aggregate Class A Ordinary Shares” means such number of new Class A Ordinary
Shares to be issued by the Company as contemplated under the Relevant Capital Contribution Schedule, up to an aggregate issue amount not exceeding S$1.93 billion. 

“Amended Constitution” means the Constitution to be amended after the date of this Agreement in the form to be agreed by both
Grab and Singtel; provided, that such form shall not contain any terms and conditions that are inconsistent with this Agreement, and shall reflect, for the avoidance of doubt, Sections 4.2(x) and (y). 

  
 3 

 “Approved Business Plan and/or Budget” means, as the case may be,
(A) the Initial Business Plan (and/or Budget contained therein), (B) any Business Plan Variation and/or Budget Variation, (C) any Revised Business Plan (and/or Budget contained therein), (D) any Revised Business Plan Variation and/or
Budget Variation, (E) any Subsequent Business Plan and/or Budget, in each case as approved in accordance with Article III. 

“Associated Company” shall have the same meaning given to the term “associate” as its definition in IFRS. 

“AT” means Anthony Tan Ping Yeow. 

“Banking Act” means the Banking Act (Chapter 19) of Singapore. 

“Banktech” means the Know-how, hardware, software, source code, algorithms, services,
systems, networks, resources, plans, architecture, design styles, protocols, operating procedures, processes, data and functionalities that are, as the case may be, used or deployed by or on behalf of any member of the DB Group to conduct the
Business (or any part thereof, including compliance or financial process) or to improve and automate the delivery and use of the banking (including digital banking) and other financial services by the Company or the DB Group, provided that
where the term “Banktech” is used in the context of Banktech RPTs in this Agreement, the reference to “data” in this definition shall be deemed to be excluded. 

“Board” means the board of directors of the Company. 

“Budget” means the budget of the Company in relation to the Company and the DB Group, from time to time. 

“Business Day” means any day on which banks are open for business in Singapore (excluding Saturdays, Sundays and
public holidays). 
 “Business Plan” means the business plan of the Company in relation to the Company and the DB Group,
from time to time. 
 “CCO” means the Chief Commercial Officer of the Company. 

“CEO” means the Chief Executive Officer of the Company. 

“CFO” means the Chief Financial Officer of the Company. 

“Change of Control” means, with respect to any Shareholder: 

 

	 	(a)	 any Person who is not in Control of such Shareholder as at the date of the Previous Shareholders’
Agreement acquiring Control of such Shareholder through one or a series of related transactions; or 

  
 4 

	 	(b)	 any Person who is in Control of such Shareholder as at the date of the Previous Shareholders’ Agreement
ceasing to Control such Shareholder directly or indirectly through one or more intermediaries, 

provided, that for the purpose of this definition only: 

 

	 	(i)	 with respect to Singtel, the Person who is in Control of Singtel as at the date of the Previous
Shareholders’ Agreement shall be deemed to be Singtel Parent and not, for the avoidance of doubt, Temasek Holdings (Private) Limited (or any Person(s) who Controls Temasek Holdings (Private) Limited); and 

 

	 	(ii)	 with respect to Grab, the Person who is in Control of Grab as at the date of the Previous Shareholders’
Agreement shall be deemed to be Grab Parent; 

 provided further, that a Change of Control in relation to any
Shareholder shall be deemed not to have occurred if one or more intermediate companies are interposed between a Person who is in Control of such Shareholder as at the date of the Previous Shareholders’ Agreement and such Shareholder, as a
result of a bona fide internal corporate restructuring, and the said Person does not cease to Control such Shareholder following such internal corporate restructuring. 

“Chief Executive” means, in respect of any company, the most senior executive officer(s) who is/are responsible for the
conduct of the business of the company in question, and shall mean the chief executive officer or any other individual, by whatever name described, who performs the responsibilities or functions mentioned above. 

“Class A Ordinary Shares” means the Ordinary Shares with voting rights and a liquidation preference in the
event of a winding-up of the affairs or liquidation of the Company (equal to the aggregate amount of Capital Contributions made to the Company by the applicable Shareholder) as set forth in the Constitution.

 “Class B Ordinary Shares” means the Ordinary Shares without voting rights and without the right to
convert into Class A Ordinary Shares until and unless an IPO of the Company is consummated as set forth in the Constitution, ranking below the Class A Ordinary Shares in the event of a winding-up of
the affairs or liquidation of the Company. 
 “Close Relatives”, in relation to a natural person, means the person’s
spouse and child (including adopted and step child), but no other family members. 
 “Collaboration Agreements” means
(a) the Master Data Sharing Agreement between the Company, Singtel Mobile Singapore Pte Ltd and GFG, and (b) the Wallet Sharing Collaboration Agreement between the Company, SingCash Pte. Ltd. And GPay Network (S) Pte Ltd. 

“Companies Act” means the Companies Act (Chapter 50) of Singapore. 

“Condition Precedent” means the applicable conditions precedent set forth in Sections 2.1 or 2.2, as the context
requires. 

  
 5 

 “Constitution” means the Company’s Constitution from time to time.

 “Control” (including, with correlative meanings, the terms “Controlling,” “Controlled”
and “under common Control with”), as used with respect to any Person, means the possession, directly or indirectly through one or more intermediaries, 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 credit arrangement, as trustee, executor or otherwise; provided, that such power shall (unless otherwise expressly provided in this Agreement or the other
Transaction Documents) conclusively be presumed to exist upon possession of beneficial ownership, or the power to direct the voting, of securities entitling to (a) more than fifty per cent (50%) of the voting rights of such Person and/or
(b) the appointment of a majority of the directors (or Persons performing a similar function) of such Person. 
 “COO”
means the Chief Operating Officer of the Company. 
 “CP Fulfilment Date” means the date on which all the Conditions
Precedent set out in Sections 2.1 and 2.2, save for Section 2.1(c), have been fulfilled (or, if applicable, waived). 

“CRO” means the Chief Risk Officer of the Company. 

“D&O Policy” shall mean a directors’ and officers’ liability insurance policy with insurance coverage for the
directors and officers of the Company and the DB Group (including Grab’s and Singtel’s nominees to the board of directors of the Company and the DB Group and the various committees to such boards), issued by a reputable and financially
sound insurance company in a form and of an amount determined or to be determined by the Board with the affirmative vote of the Grab Directors and the Singtel Director (it being understood and agreed that if the Board has approved such policy with
the affirmative vote of the Grab Directors and the Singtel Director, the insurance company shall be deemed reputable and financially sound). 

“DB Group” means the Company and its Subsidiaries, and “DB Group Company” means any one of them. 

“DB License” means a digital full bank license issued by MAS under the Banking Act. 

“Deed of Adherence” means a Deed of Adherence in the form attached hereto as Exhibit B. 

“Default Call Option” means, in relation to any Non-Indemnified Event of Default, the
right of any Non-Defaulting Shareholder to require the Defaulting Shareholder to sell all the Default Option Shares to the Non-Defaulting Shareholder(s) at 80% of the
Fair Market Value per Share (as defined in Exhibit G). 
 “Default Option Shares” means (a) in relation to the
Default Call Option, all the Shares held by Defaulting Shareholder on the date of the Default Call Option Notice and (b) in relation to the Default Put Option, all the Shares held by the Non-Defaulting
Shareholder on the date of the Default Put Option Notice. 

  
 6 

 “Default Put Option” means, in relation to any Non-Indemnified Event of Default, the right of any Non-Defaulting Shareholder to require the Defaulting Shareholder to purchase all the Default Option Shares from the Non-Defaulting Shareholder at 120% of the Fair Market Value per Share (as defined in Exhibit G). 

“Director” means a member of the Board. 

“Disclosed” means, in relation to any matter, if such matter is disclosed with such particulars as would reasonably be
sufficient to enable a reasonably informed assessment of the matter concerned and its impact (including the extent thereof) on the relevant representation given. 

“Disclosed Agreement” means any agreement entered into by Grab or any of its Affiliates as at the date of the Previous
Shareholders’ Agreement that is Disclosed pursuant to the terms of this Agreement (including the MUFG Agreements), and for the purpose of identification, listed in Exhibit F. 

“Effective Date” means the date on which all Conditions Precedent set forth in Sections 2.1 and 2.2 are satisfied or
waived, in accordance with the provisions of Article II. 
 “Encumbrance” means any mortgage, charge (whether fixed or
floating), pledge, hypothecation, lien, assignment by way of security, deed of trust, title retention, option, right to acquire, right of pre-emption, right of set off, counterclaim, trust arrangement or any
other security, preferential right, equity or restriction, any adverse claim as to title, possession or use, and any agreement to give or create any of the foregoing. 

“Entity at Risk” means (a) a DB Group Company or (b) an Associated Company of DB Group Company. 

“Exchange Agreement” means the Exchange Agreement to be entered into by and among Grab Parent, GFG, Grab and Singtel to give
effect to, inter alia, the exchange as contemplated in Section 12.6(c)(ii), as a Condition Precedent on terms and conditions to be mutually agreed by Grab and Singtel, as the same may be amended from time to time. 

“Expanded Prohibited Person” means (a) a Prohibited Person, (b) a Sanctioned Person or (c) a competitor of the
DB Group or a telecommunications operator (or, in the case of this clause (c), where the term “Expanded Prohibited Person” is used in the definition of “Loss of Singaporeaness”, a director or executive of a competitor of the
DB Group or a telecommunications operator), as may be amended or updated from time to time pursuant to Section 1.6. 
 “Fair
Market Value”, in relation to each Share, means the price at which a willing seller would sell, and a willing buyer would buy, the Share having full knowledge of the relevant facts as of the time of agreeing to the valuation in an arm’s-length transaction without either party having time constraints, and without (a) either party being under any compulsion to buy or sell, as determined on a going concern basis and (b) taking
into account the controlling interests of Grab or Singtel (as the case may be). 
 “First Five Years” means the first five
(5) years after the Launch Date. 
 “First Six Years” means the first six (6) years after the Launch Date. 

  
 7 

 “Full-Functioning Status Date” means the effective date from which the
Company is granted full functioning digital full bank status by the MAS pursuant to the Banking Act and applicable subsidiary legislation. 

“GFG Group” means GFG and its Subsidiaries. 

“Government Authority” means any supranational, international, federal, national, state, provincial, municipal, local or
foreign government, court, tribunal, arbitral tribunal, administrative body or agency, bureau, department or commission or similar body or instrumentality thereof or other governmental or quasi-governmental or regulatory agency or authority or any
securities exchange, wherever located (including the MAS). 
 “Grab Enhanced Threshold” means, at any given time,
Grab’s Shareholder Group’s voting rights in the Company continuing to represent more than fifty per cent (50%) of the then outstanding voting rights in respect of the Class A Ordinary Shares at that time. For the avoidance of doubt,
for so long as the Proxy is issued by Grab to Singtel and is in force in accordance with its terms, Singtel (and not Grab) shall be deemed to have the voting rights over such number of Shares owned by Grab as is necessary to restore compliance with
the Singaporean Licence Condition. 
 “Grab MAS Undertakings” means (a) Grab Initial MAS Undertakings and
(b) such other written confirmations, letters of responsibility and letters of undertakings that may be provided or executed by Grab and/or any of its Affiliates (other than the DB Group) to the MAS from time to time, in each case, as each such
confirmations and letters (including the Grab Initial MAS Undertakings) may be amended from time to time. 
 “Grab Parent
Group” means Grab Parent and its Subsidiaries. 
 “Grab Parent SHA” means the Shareholders’ Agreement in
respect of Grab Parent in force as at the date of the Previous Shareholders’ Agreement. 
 “Grab Related Party” means:

  

	 	(a)	 Grab; 

  

	 	(b)	 any Affiliate of Grab; or 

 

	 	(c)	 except with respect to the ordinary course of the Company’s or the DB Group’s Business, (i) any
director of Grab or any director of an Affiliate of Grab (other than, in each case, any nominee director of a Person not being Grab Parent, GFG or their respective Affiliates) and any of such director’s Close Relatives, (ii) any non-Independent Director nominated or appointed by Grab to the DB Board, and any of such non-Independent Director’s Close Relatives and (iii) any Chief Executive of
Grab Parent or GFG and any of such Chief Executive’s Close Relatives. 

 “Grab Related Party
Transaction” means any Related Party Transaction where the Related Party is a Grab Related Party. 

  
 8 

 “Grab Shareholder’s Loan” means, (a) as at the date of the
Previous Shareholders’ Agreement, the loan in the aggregate principal amount of S$12,995,065.64 (plus accrued interest where applicable) extended by GFG (and/or Grab) to the Company, and Disclosed in the Subscription Agreement, and
(b) the aggregate principal amount of any other loan (plus accrued interest where applicable) to be extended by GFG (and/or Grab) to the Company as provided for in the Subscription Agreement, which shall be capitalized into fully paid
Class A Ordinary Shares (valued at S$1.00 per share for this purpose) pursuant to the terms of this Agreement. 
 “Grab
Threshold” means, at any given time, Grab’s Shareholder Group’s Shareholding Percentage continuing to represent at least twenty per cent (20%) of the then outstanding Class A Ordinary Shares at that time. 

“IFRS” means International Financial Reporting Standards, as in effect from time to time. 

“Indemnified EOD Aggregate Amount” means, in relation to any Defaulting Shareholder, the aggregate amount to be determined by
reference to the maximum amount of Capital Contribution committed by Singtel as provided for, or contemplated under, the Relevant Capital Contribution Schedule (from time to time), regardless of whether, at the relevant time, Singtel had made all or
part of the said Capital Contribution. For example, assuming the Relevant Capital Contribution Schedule as at the relevant time reflects Singtel’s maximum amount of Capital Contribution committed as S$770 million, the aggregate amount of
liability of that Defaulting Shareholder (whether or not Singtel) for all claims made under Section 10.7 shall not exceed S$770 million. 

“Indemnified Events of Default” means the Events of Default set out in Sections 13.1(a), 13.1(c) and 13.1(d), and
“Indemnified Event of Default” means any one of them. 
 “Indemnified LoS Aggregate Amount” means, in
relation to the indemnity by Grab to Singtel and its Affiliates pursuant to Section 8.5(b)(ii), the aggregate amount to be determined by reference to the maximum amount of Capital Contribution committed by Singtel as provided for, or
contemplated under, the Relevant Capital Contribution Schedule (from time to time), regardless of whether, at the relevant time, Singtel had made all or part of the said Capital Contribution. For example, assuming the Relevant Capital Contribution
Schedule as at the relevant time reflects Singtel’s maximum amount of Capital Contribution committed as S$770 million, the aggregate amount of liability of Grab for all indemnity claims under Section 8.5(b)(ii) shall not exceed
S$770 million. 
 “IPA” means the in-principle approval of the DB License.

 “IPA Issuance Date” means the date of issuance by the MAS of the IPA. 

“IPO” means an initial public offering of the Shares or any other equity securities into which the Shares may have been
converted or for which they may have been exchanged, whether such offering is a primary offering (whether underwritten or in conjunction with a direct listing), secondary offering (whether underwritten or in conjunction with a direct listing) or a
combination thereof, on an internationally recognized stock exchange reasonably acceptable to Grab and Singtel (it being understood and agreed that the SGX-ST, the HKSE, NYSE and NASDAQ shall be acceptable).

  
 9 

 “Key Subsidiary” means, at any given time, any existing or future
Subsidiary of the Company (whether or not wholly-owned): 
  

	 	(a)	 whose revenue during the financial year immediately preceding such given time, as compared with the latest
audited consolidated revenue of the DB Group, accounts for seven and one half per cent (7.5)% or more of such consolidated revenue of the DB Group; 

  

	 	(b)	 whose pre-tax profits (excluding minority interest relating to that
Subsidiary) during the financial year immediately preceding such given time, as compared with the latest audited consolidated pre-tax profits of the DB Group (excluding minority interest relating to that
Subsidiary), accounts for seven and one half per cent (7.5)% or more of such pre-tax profits of the DB Group. In determining profits, exceptional and extraordinary items are to be excluded;

  

	 	(c)	 whose loan book value during the financial year immediately preceding such given time, as compared with the
latest audited consolidated loan book value of the DB Group, accounts for seven and one half per cent (7.5)% or more of such loan book value of the DB Group; 

  

	 	(d)	 which is not wholly-owned by a DB Group Company, and whose equity securities are held by one or more Persons
(not being a DB Group Company) that hold such equity securities other than as bare trustee or nominee of a DB Group Company; or 

  

	 	(e)	 which is applying for and/or holds any Material License. For the avoidance of doubt, a Subsidiary which is
applying for a Material License shall be deemed to be a Key Subsidiary for the duration of the said application process, until and unless such application is not approved by a final and non-appealable decision
of the relevant Government Authority in question, and a Subsidiary which has applied for and obtained a Material License would be a Key Subsidiary. 

“Know-how” means proprietary industrial and commercial information and
techniques in any form. 
 “Knowledge” means: 
  

	 	(a)	 in relation to Grab, the actual knowledge of AT and Reuben Lai Yuen Tung, after having made inquiries with
their direct reports, group head of legal/group general counsel and group head of finance who will, in turn, make inquiries of their respective departments; and 

 

	 	(b)	 in relation to Singtel, the actual knowledge of the Group Chief Executive Officer of Singtel Parent and/or the
Chief Executive Officer – International of Singtel Parent (after having made reasonable inquiry). 

  
 10 

 “KPIs” means the following key performance indicators of the Company:
(a) total revenue, (b) profit before tax, (c) size of loan book and (d) loan-to-deposit ratio. 

“Launch Date” means the date on which the DB License is issued to the Company by the MAS. 

“Law” means any law, statute, ordinance, regulation, rule, code, executive order, decree, standard, municipal by-laws, judicial or arbitral or administrative or ministerial or departmental or regulatory order, injunction, judgment, decision, ruling or award, policy or other requirement of any Government Authority, or any
provisions or interpretations of the foregoing, including general principles of common and civil law and equity, binding on or affecting the Person (or its Affiliate) referred to in the context in which such word is used. 

“Legal Reasons” means any legal or regulatory reasons (including (a) any License Conditions or applicable Laws of
Singapore or the Cayman Islands which will not be complied with following or as a result of the consummation of the Swap; or (b) any Singtel MAS Undertakings which will not be complied with following or as a result of the consummation of the
Swap or will result in, or gives rise to, a default by or liability of Singtel under the Singtel MAS Undertakings). 
 “License
Condition” means, in relation to any DB Group Company, any condition imposed by or under any Material License, from time to time (including, in relation to the Company, the DB License). 

“Liquid Shares” means any shares listed on an internationally recognized stock exchange (including the SGX-ST, the HKSE, NYSE and NASDAQ) which are freely tradable without restrictions, and: 
  

	 	(a)	 having an average of the daily trading value (if the daily trading value is not available, it will be computed
by reference to the product of the daily trading volume and last done price as of the close of the relevant trading day) for the 20 trading days immediately preceding the closing of the sale of the Tagging Shares pursuant to Section 8.4, that
are reasonably likely to effectively enable the Shareholder in question (in its discretion) to sell all such shares it will receive from the prospective Transferee in consideration of the Tag Trigger Transfer within 5 trading days; and

  

	 	(b)	 to be issued by a company with a total market capitalization of at least US$5,000,000,000 (or its equivalent in
local currency to be determined based on the rates published on https://secure.mas.gov.sg/msb/ExchangeRates.aspx) throughout each of the 20 trading days immediately preceding the closing of the sale of the Tagging Shares pursuant to
Section 8.4. 

  
 11 

 “Loss of Singaporeaness” means, any
non-compliance by the Company with the Singaporean License Condition, provided, that the occurrence of any of the following shall be deemed such non-compliance in
any event: 
 (a) AT ceasing for any reason to have the right (on the basis of direct or indirect ownership, voting proxy (in accordance with
the terms of the voting proxies granted to him), contract or otherwise), directly or indirectly: 
  

	 	(i)	 to exercise, or direct or cause the exercise of, a majority of the voting rights attaching to the issued and
outstanding shares in the capital of Grab Parent on an as converted basis; or 

  

	 	(ii)	 to nominate or appoint a majority of the directors of Grab Parent; 

(b) AT ceasing for any reason to have the sole authority to manage and control the business, affairs and properties of Grab Parent and its
Subsidiaries, except for board and shareholders reserved matters; 
 (c) AT being removed from his position as, or ceasing to be, Chief
Executive of Grab Parent, for any reason; or 
 (d) Grab Parent ceasing to (i) be anchored in Singapore; (ii) be headquartered in
Singapore; (iii) publicly identify Singapore as its home country; (iv) have its global head office and principal place of business in Singapore; or (v) have its effective management situated in Singapore, 

unless (x) in the case of sub-paragraphs (a) through (c) of this definition, a Singaporean
citizen other than AT who has similar standing within Grab Parent (and who shall not be an Expanded Prohibited Person) replaces AT and the MAS notifies Grab and Singtel in writing that such replacement does not constitute non-compliance by the Company with the Singaporean License Condition or (y) in the case of sub-paragraphs (a) through (d) of this definition, the MAS notifies
Grab and Singtel in writing that such occurrence does not constitute non-compliance by the Company with the Singaporean License Condition. 

“Loss of Singaporeaness Period” means, in relation to any Loss of Singaporeaness, the period commencing on and from the date
the Loss of Singaporeaness occurred (or shall have been deemed to have occurred) up to either: 
  

	 	(a)	 the date the Proxy is issued (and expressed to be effective) in favour of Singtel; provided, that, if
the Proxy lapses or is revoked or otherwise terminated by Grab for any reason (whether or not the terms of the Proxy expressly provide for such lapsing, revocation or termination) other than as a result of the exercise of the Excluded Authority (as
such term is defined in the Proxy), prior to the MAS having confirmed in writing that the remediation steps or other arrangements implemented have restored full compliance with the Singaporean License Condition, the said period shall automatically
recommence on and from the date of such lapsing, revocation or termination (as the case may be) up to the date the Proxy is re-issued (and expressed to be effective) in favour of Singtel; or

  
 12 

	 	(b)	 in the event that Grab is not required to provide the Proxy to Singtel under Section 8.5(b)(i), the date
the MAS confirms in writing that the remediation steps or other arrangements agreed by MAS, Grab and Singtel and implemented have restored full compliance with the Singaporean License Condition. 

For the avoidance of doubt, where Section 8.5(c) applies, it is agreed that Loss of Singaporeaness occurs when that event occurs and not on the date the
MAS determines the event to have occurred. 
 “Losses” mean any and all losses (including loss of profits, loss of revenue
and diminution in the value of Shares) howsoever arising, demands, claims, complaints, actions or causes of action, suits, proceedings, investigations, arbitrations, assessments, losses, damages, liabilities or obligations (including those arising
out of any action, such as any settlement or compromise thereof or judgment or award therein) and any fees, costs and expenses related thereto, including interest, fines, penalties, fees, disbursements and amounts paid in settlement (including any
reasonable legal fees and expenses); provided, however, that “Losses” shall specifically exclude (a) punitive, exemplary or indirect losses (save as specified in this definition herein), and (b) consequential losses
for loss of profits. 
 “Mandatory Consents” means in relation to a proposed Transfer of Shares (including pursuant to the
Swap) or issuance of Offered Securities, any consent, approval or waiver that is required to be obtained by a relevant Person (and/or its Affiliates) (a) from any Government Authority, (b) pursuant to any License Condition or
(c) pursuant to any applicable Law, prior to such Transfer or issuance (including, for the avoidance of doubt, any requisite approvals from MAS). 

“MAS” means the Monetary Authority of Singapore. 

“MAS Undertakings” means, as the case may be, (a) the Grab MAS Undertakings (including the Grab Initial MAS
Undertakings), (a) the Singtel MAS Undertakings (including the Singtel Initial MAS Undertakings) and/or (c) such other written confirmations, letters of responsibility and letters of undertakings that may be provided or executed by any
Shareholder (and/or its Affiliates other than the DB Group) to the MAS from time to time, in each case, as each such confirmations and letters may be amended from time to time. 

“Material License” means, in relation to any DB Group Company: 

 

	 	(a)	 any banking license or approvals granted by any Government Authority and held by such DB Group Company; or

  

	 	(b)	 any other financial services license granted by any Government Authority and held by such DB Group Company.

 “Monetary Authority of Singapore Act” means the Monetary Authority of Singapore Act (Chapter 186) of
Singapore. 

  
 13 

 “MUFG” means MUFG Bank, Limited, a company duly organized and existing
under the laws of Japan. 
 “MUFG Agreements” means, collectively, (a) the MUFG SAA, (b) the MUFG Implementation
Agreements (including the joint venture agreement dated August 7, 2020 between GFin Services (T) Co., Ltd. and Bank of Ayudhya Public Company Limited in furtherance of the specific collaboration under the MUFG SAA) and (c) any other
agreement, document or instrument entered into in connection with any of the agreements referred to in sub-paragraph (a) and (b) above (and in respect of
sub-paragraphs (a), (b) and (c) above, all as Disclosed to Singtel prior to the date of the Previous Shareholders’ Agreement), and any amendment, restatement or replacement of any of the foregoing to
the extent that Singtel has given its prior written consent. 
 “MUFG AI Technology Lab” shall have the meaning given to
the term “AI Technology Lab” in the MUFG SAA. 
 “MUFG Banking Group” shall have the meaning given to it in the
MUFG SAA. 
 “MUFG Collaboration” shall have the meaning given to the term “Collaboration” in the MUFG SAA. 

“MUFG Implementation Agreement” shall have the meaning given to the term “Implementation Agreement” in the MUFG
SAA. 
 “MUFG SAA” means the Strategic Alliance Agreement dated 25 February 2020 among MUFG, Grab Parent and A
Holdings Inc., as novated from A Holdings Inc. (as the outgoing party) to GFG (as the incoming party). 
 “New Parent
Shareholder”, in relation to any New Shareholder, means (a) the Person who Controls such New Shareholder at the relevant time (if any), (b) in the absence of which, the single largest shareholder of such New Shareholder at the relevant
time (if any) or (c) in the absence of which, such other Person as may be agreed to by all other Shareholders in writing, unless otherwise waived by, or varied with the approval of, all other Shareholders in writing. 

“New Shareholder” means any Person who becomes a Shareholder after the date of the Previous Shareholders’ Agreement (not
being Grab, Singtel or their respective Affiliates). 
 “Non-Indemnified Events of
Default” means the Events of Default set out in Sections 13.1(b), (e) to (j), and “Non-Indemnified Event of Default” means any one of them. 

“Option Pool” means the Company’s pool of options to issue up to such number of Class B Ordinary Shares,
corresponding in the aggregate to approximately ten per cent (10%) of the Shares on a fully diluted basis, immediately after the Effective Date. 

“Ordinary Shares” means, collectively, the Class A Ordinary Shares and the Class B Ordinary Shares. 

  
 14 

 “Other Shareholder Related Party” means, in relation to a Shareholder
(other than Grab, Singtel or their respective Shareholder Group), (a) such Shareholder, (b) any Affiliate of such Shareholder, or (c) except with respect to the ordinary course of the Company’s or the DB Group’s Business,
(i) any director of such Shareholder or any director of an Affiliate of such Shareholder (other than, in each case, any nominee director of a Person not being such Shareholder or its Affiliates) and any of such director’s Close Relatives,
(ii) any non-Independent Director nominated or appointed by such Shareholder to the DB Board, and any of such non-Independent Director’s Close Relatives and
(iii) any Chief Executive of such Shareholder (or such Shareholder’s ultimate parent company) and any of such Chief Executive’s Close Relatives. 

“Parties” means the Shareholders and the Company, and in relation to Section 10.2, Section 11.1, Section 12.7
(where applicable), Section 14.16, Article XIV (where applicable) and Exhibit M only, the term “Parties” shall include Grab Parent, Singtel Parent, GFG and Singtel FinGroup and any New Parent Shareholder from time to
time. 
 “Permitted Issuance” means the issuance of any Shares: 

 

	 	(a)	 as a dividend or distribution or upon any subdivision, split, reclassification, combination or similar
reorganization of the Shares, provided, that, following such issuance, there is no change to the proportion of each Shareholder’s shareholding relative to the aggregate issued share capital of the Company; 

 

	 	(b)	 upon exchange, exercise or conversion in accordance with their terms of any Shares or other equity securities
of the Company, provided, that the terms of such Shares or such other equity securities of the Company was first approved as a Shareholders’ Reserved Matter prior to the issuance of the same; 

 

	 	(c)	 granted to officers, directors or any other employees of the Company and its Subsidiaries from the Option Pool
pursuant to the ESOP (the terms and conditions of which (as well as the grant of any options thereunder) are approved as a Board Reserved Matter and (if applicable) Shareholders’ Reserved Matter in accordance with Sections 5.9, 7.4 and 10.9);

  

	 	(d)	 pursuant to an Approved IPO; 

 

	 	(e)	 pursuant to any Capital Contribution or Section 4.1(f)(II); 

 

	 	(f)	 to a third party pursuant to Section 4.4 in the event that Grab or Singtel is a Non-Contributing Shareholder; or 

  

	 	(g)	 pursuant to Section 8.5. 

  
 15 

 “Permitted Transferees” means: 

(a) with respect to any Shareholder (other than the Persons referred to in subclauses (b) and (c) of this definition), any Person that is
a wholly-owned Subsidiary of such Shareholder; 
 (b) with respect to Grab, any Person that is a wholly-owned Subsidiary of GFG; and 

(c) with respect to Singtel, any Person that is a wholly-owned Subsidiary of Singtel FinGroup. 

“Person” means any individual, corporation, partnership, joint venture, trust, unincorporated organization or association
(whether or not having separate legal personality), limited liability company, limited liability partnership, estate, joint stock company, company or other form of legal entity or Government Authority. 

“Pre-Effective Date Provisions” means: 

 

	 	(a)	 the Surviving Provisions; 

 

	 	(b)	 Section 4.2 (in so far as it relates to obligations of the Shareholders with respect to the First Capital
Contribution); 

  

	 	(c)	 Sections 10.12 and 10.14; and 

 

	 	(d)	 Article XI. 

“Prefunded Capital Contribution” means a Capital Contribution in an aggregate amount of S$300 million minus the
sum of the Grab Shareholder’s Loan. For the avoidance of doubt, all such Capital Contribution and all Grab Shareholder’s Loan shall be capitalized into Class A Ordinary Shares pursuant to the terms of this Agreement and (as the case
may be) the Subscription Agreement. 
 “Proceeding” means any action, claim, demand, appeal, litigation, arbitration or
dispute resolution proceeding, or any disciplinary or enforcement proceeding, in any jurisdiction. 
 “Prohibited Person”
means, in relation to each Shareholder, any of the Persons set forth on Exhibit C hereto and (unless otherwise indicated in Exhibit C) any of such Person’s Affiliates, which Exhibit may be updated on a biennial basis by any of
Grab and Singtel subject to the prior written consent of the respective other Shareholder (such consent not to be unreasonably withheld, conditioned or delayed) by adding up to two Persons that have a competitive relationship with (x) the
applicable Shareholder who wishes to add such Person, (y) any of such Shareholder’s Affiliates or (z) the DB Group; provided, that for each Person that Grab or Singtel adds to the Exhibit in any such update, Grab or Singtel, as
applicable, has to remove one other Person previously identified by it from the Exhibit. 

  
 16 

 “Regionalization Agreement” means the Regionalization Agreement to be
entered into by and between GFG, Singtel FinGroup, Grab and Singtel in relation to, inter alia, the agreed approach and principles which shall be used in considering, assessing or negotiating certain opportunities in the
Regionalization Territories, as a Condition Precedent on terms and conditions to be mutually agreed by Grab and Singtel, as the same may be amended from time to time. 

“Regionalization Territories” means (a) Brunei Darussalam, (b) Cambodia, (c) East Timor (Timor-Leste) (d)
Indonesia, (e) Lao People’s Democratic Republic, (f) Malaysia, (g) Myanmar, (h) Philippines, (i) Thailand and (j) Vietnam. 

“Related Party” means (a) any Grab Related Party, (b) any Singtel Related Party or (c) any Other Shareholder
Related Party, as the case may be. 
 “Related Party Transaction” means a Transaction between (a) an Entity at Risk
and (b) a Related Party. 
 “Relevant Period” means the period during which Grab, Singtel and the Company shall
explore remediation steps or other arrangements with MAS to restore compliance with the Singaporean License Condition and expiring on the earlier of (a) the date written confirmation is received from MAS that compliance with the Singaporean
License Condition has been restored and (b) the date falling 12 months after discussions with MAS (whether in person, electronically or by phone) on such remediation steps or other arrangements first commenced. 

“Relevant Related Party Decision” means any of the following decisions by the Company in relation to the exercise by it of:

  

	 	(a)	 the Grab Lending Call Option Right and the Singtel Lending Call Option Right (as each such term shall be
defined in the Restrictive Covenant Agreement); 

  

	 	(b)	 any rights in relation to Grab’s or Singtel’s Regional Participation
Roll-in Option (as the term shall be defined in the Regionalization Agreement); 

  

	 	(c)	 any rights in relation to Grab’s or Singtel’s Existing Business
Roll-in Option (as such term shall defined in the Restrictive Covenant Agreement); 

  

	 	(d)	 any rights in relation to the non-compete, non-solicitation and other provisions in the Restrictive Covenant Agreement; and 

  

	 	(e)	 any rights under the Collaboration Agreements, 

and, in each case, any Proceedings arising thereunder or in respect thereof. 

“Relevant Related Party Transaction” means, in relation to or in connection with any Relevant Related Party Decision, any
Transaction or other matter between (a) the Company (on the one hand) and (b) any Shareholder or its Affiliate (on the other hand). 

  
 17 

 “Relevant Shares” means such number of Shares as is in aggregate required
to restore compliance with the Singaporean License Condition. 
 “Representative” means, in relation to any Shareholder
Group, a Shareholder in that Shareholder Group notified to the other Parties from time to time. 
 “Restricted Territories”
means (a) Brunei Darussalam, (b) Cambodia, (c) East Timor (Timor-Leste), (d) Indonesia, (e) Lao People’s Democratic Republic, (f) Malaysia, (g) Myanmar, (h) Philippines, (i) Singapore, (j) Thailand and
(k) Vietnam, and “Restricted Territory” means any one of them. 
 “Restrictive Covenant Agreement”
means the Restrictive Covenant Agreement to be entered into by and between Grab Parent, Singtel Parent, GFG, Singtel FinGroup, Grab and Singtel to, inter alia, agree on certain non-compete and non-solicitation restrictions relating to the DB Group and agree to granting certain preferential rights to the DB Group, as a Condition Precedent on terms and conditions to be mutually agreed by Grab and Singtel,
as the same may be amended from time to time. 
 “Safe Harbour Rules” means, pursuant to Section 5.9 or
Section 7.4 and in relation to each Subsidiary of the Company, the rules and principles outlined in Exhibit J. 

“Sanctioned Person” means any Person or Person from the country that is subject to trade sanctions and economic embargo
programs enforced by (a) the U.S. Treasury Department’s Office of Foreign Asset Control, including any “Specially Designated Nationals and Blocked Persons”, and any government, national, resident or legal entity of Cuba, North
Korea, Syria, Sudan, Iran or any other country with respect to which U.S. persons, as defined in the U.S. Economic Sanctions, are prohibited from doing business; (b) the Office of Financial Sanctions Implementation of Her Majesty’s
Treasury; (c) the Directorate-General for Financial Stability, Financial Services and Capital Markets Union of the European Commission; and (d) the United National Security Council. This includes any Person whose ownership of an
interest in the Company would subject the Company and/or its Subsidiaries to regulatory scrutiny under any applicable anti-corruption Laws. 

“SGX-ST” means Singapore Exchange Securities Trading Limited. 

“Share Issuance Resolution” means the authority given to the Directors, pursuant to Section 161(4) of the Companies Act,
to (a) issue up to the number of Aggregate Class A Ordinary Shares to Grab, Singtel and/or (in the event that a Non-Contributing Shareholder fails to make an Outstanding Contribution pursuant to
Section 4.3 or in the event of a Loss of Singaporeaness pursuant to Section 8.5) to a third party as contemplated under this Agreement and/or (b) make or grant offers, agreements or options to Grab, Singtel and/or such third party
that might require up to the number of Aggregate Class A Ordinary Shares to be issued and (notwithstanding the authority conferred by such approval may have ceased to be in force) to issue Aggregate Class A Ordinary Shares to Grab, Singtel
and/or such third party in pursuance of such offers, agreements or options. 

  
 18 

 “Share Specific Issuance Resolutions” means the authority given to the
Directors, pursuant to Section 161 of the Companies Act, to issue Class A Ordinary Shares (paid and unpaid) to Grab and Singtel, in each case, in the manner as contemplated under Section 2.1 and/or Section 2.2. 

“Shareholders” means (a) Grab, (b) Singtel and (c) any Person who is registered as a member in the Company’s
electronic register of members who has executed a Deed of Adherence, from time to time, in each case with respect to all Shares that such Person owns or may acquire from time to time on or after the date of the Previous Shareholders’ Agreement,
but shall exclude the holders of Class B Ordinary Shares. 
 “Shareholder Group” in respect of a Shareholder, means
such Shareholder and its Permitted Transferees who are Shareholders. 
 “Shareholding Percentage” in relation to any
Shareholder and at any time, unless otherwise expressly provided in this Agreement, means the total number of outstanding Class A Ordinary Shares registered in the name of that Shareholder (or the Shareholder Group to which that Shareholder
belongs, if applicable) in the Company’s electronic register of members at that time expressed as a percentage of all outstanding Class A Ordinary Shares as at that time. 

“Shares” means, collectively, the Ordinary Shares and any other class or series of shares in the share capital of the Company
issued from time to time. 
 “Singaporean License Condition” means the License Condition as set forth in the DB License,
requiring the Company to be anchored in Singapore, controlled by one or more Singaporeans and headquartered in Singapore on an ongoing basis, as such License Condition may be amended from time to time by the MAS. 

“Single Largest Shareholder” means, at any given time, the Shareholder, if any, whose Shareholder Group’s voting rights
in the Company represent more than fifty per cent (50%) of the then outstanding voting rights in respect of the Class A Ordinary Shares at that time. 

“Singtel Enhanced Threshold” means, at any given time, Singtel’s Shareholder Group’s voting rights in the Company
continuing to represent more than fifty per cent (50%) of the then outstanding voting rights in respect of the Class A Ordinary Shares at that time. For the avoidance of doubt, for so long as the Proxy is issued by Grab to Singtel and is in
force in accordance with its terms, Singtel (and not Grab) shall be deemed to have the voting rights over such number of Shares owned by Grab as is necessary to restore compliance with the Singaporean Licence Condition. 

“Singtel Innov8” means the corporate venture capital fund (or any successor or replacement fund established and operating on
substantially identical terms with the predecessor fund, including with respect to its aggregate paid up capital which shall not exceed US$500 million) of Singtel Parent Group; 

“Singtel Innov8 Group Companies” means Singtel Innov8 and the entities and funds owned, held or managed by Singtel Innov8
(including, the Affiliates of, and investee or portfolio companies held by, Singtel Innov8, such entities and/or funds), from time to time; 

  
 19 

 “Singtel MAS Undertakings” means (a) Singtel Initial MAS Undertakings
and (b) such other written confirmations, letters of responsibility and letters of undertakings that may be provided or executed by Singtel and/or any of its Affiliates (but shall for avoidance of doubt exclude the DB Group) to the MAS from
time to time, in each case, as each such confirmations and letters (including the Singtel Initial MAS Undertakings) may be amended from time to time. 

“Singtel Parent Group” means Singtel Parent and its Subsidiaries. 

“Singtel Related Party” means (a) Singtel, (b) any Affiliate of Singtel, or (c) except with respect to the ordinary
course of the Company’s or the DB Group’s Business, (i) any director of Singtel or any director of an Affiliate of Singtel (other than, in each case, any nominee director of a Person not being Singtel Parent, Singtel FinGroup or their
respective Affiliates) and any of such director’s Close Relatives, (ii) any non-Independent Director nominated or appointed by Singtel to the DB Board, and any of such
non-Independent Director’s Close Relatives and (iii) any Chief Executives of Singtel and Singtel FinGroup and their respective Close Relatives. 

“Singtel Related Party Transaction” means any Related Party Transaction where the Related Party is a Singtel Related Party.

 “Singtel Shareholder’s Loan” means (a) as at the date of the Previous Shareholders’ Agreement, the loan
in the aggregate principal amount of S$94,400 (plus accrued interest where applicable) extended by Singtel FinGroup (and/or Singtel) to the Company, and Disclosed in the Subscription Agreement, and (b) the aggregate principal amount of a
loan (plus accrued interest where applicable) to be extended by Singtel FinGroup (and/or Singtel) to the Company as provided for in the Subscription Agreement, which shall be capitalized into fully paid Class A Ordinary Shares (valued at
S$1.00 per share for this purpose) pursuant to the terms of this Agreement. 
 “Singtel Threshold” means, at any given
time, Singtel’s Shareholder Group’s Shareholding Percentage continuing to represent at least twenty per cent (20%) of the then outstanding Class A Ordinary Shares at that time. 

“Subsidiary” shall have the meaning given to the term under the Companies Act. 

“Surviving Provisions” means Section 10.2, Article I, Article II and Article XIV (including Exhibit M in
accordance with, and to the extent provided in, its terms). 
 “Swap” means the Transfer by Singtel of all or part of the
Shares held by it to GFG, in exchange for GFG Shares, pursuant to the exercise by Singtel of Swap Option 1 or Swap Option 2 (as the case may be), on and subject to the terms set out in Sections 12.3 to 12.6. 

“Tokopedia” means PT Tokopedia, a limited liability company incorporated under the laws of Indonesia, or its successor
resulting from a bona fide internal restructuring of Tokopedia after the date of the Previous Shareholders’ Agreement. 

“Transaction”, for purposes of the defined term Related Party Transaction, includes: 

 

	 	(a)	 the provision or receipt of financial assistance; 

  
 20 

	 	(b)	 the acquisition, disposal or leasing of assets; 

 

	 	(c)	 the provision or receipt of services; 

 

	 	(d)	 the issuance or subscription of securities or the granting of or being granted options (other than as expressly
approved in this Agreement or the other Transaction Documents, including issuance of Shares pursuant to any Capital Contribution or under the Option Pool in accordance with the terms of the ESOP); and 

 

	 	(e)	 the establishment of joint ventures or joint investments, 

in each case, whether or not in the ordinary course of business, and whether or not entered into directly or indirectly (for example, through one or more
interposed entities). 
 “Transaction Documents” means (a) this Agreement, (b) the Amended Constitution,
(c) the Subscription Agreement, (d) the Regionalization Agreement, (e) the Restrictive Covenant Agreement, (f) the Exchange Agreement, (g) the Collaboration Agreements and (h) any other agreement, document or instrument
entered into in connection with the agreements and documents referred to in sub-paragraphs (a) to (g) above. 

“Transfer” (including, with correlative meanings, the terms “Transferring” and “Transferred”) means, in
relation to any Share, any (a) transfer, sale, conveyance, assignment, gift, hypothecation, pledge, fixed charge or other disposition of such Share, whether voluntary or by operation of law or (a) any agreement, whether or not subject to
any condition precedent or subsequent, to do any of the foregoing. A Transfer of Shares shall include any Transfer of a security that is a derivative of a Share. For the avoidance of doubt, in no event will any transfer, sale, conveyance,
assignment, gift, hypothecation, pledge, fixed charge or other disposition, whether voluntary or by operation of law, of any legal or beneficial ownership interest in Grab Parent, GFG, Singtel Parent or Singtel FinGroup (whether in connection with a
public offering, secondary trades in shares of any of the foregoing on any stock exchange or otherwise, a restructuring of the business units of Grab Parent, GFG, Singtel Parent or Singtel FinGroup or otherwise) constitute a Transfer, except in the
event where Section 8.2 applies. 
 “Transferee” means the transferee of a Transfer. 

“Transferor” means the transferor of a Transfer. 

“Undisclosed Agreement” means: 
  

	 	(a)	 in relation to Grab, any agreement (other than (x) the Disclosed Agreements or (y) any agreements
entered into pursuant to (and only on) the terms explicitly contemplated and disclosed in the schedules to the MUFG SAA entered or to be entered into by Grab or its Affiliates (other than DB Group), prior to, on or after the date of the Previous
Shareholders’ Agreement; and 

  

	 	(b)	 in relation to Singtel, any agreement entered or to be entered into by Singtel or its Affiliates, prior to, on
or after the date of the Previous Shareholders’ Agreement. 

  
 21 

 Section 1.2. List of Certain Other Defined Terms. The following terms have the
meanings set forth in the section set forth opposite such term: 
  

			
	 Term
	  	 Section

	Absent Director	  	5.6
	Acceptance Period	  	9.1(b)
	Agreement	  	Preamble
	Approved IPO	  	12.1(b)
	Banktech RPTs	  	Exhibit D
	Big Four Firm	  	5.12(d)
	Board Reserved Matters	  	5.9(a)
	Board RPTs	  	Exhibit D
	Business	  	3.1(a)
	Business Plan Variation and/or Budget Variation	  	3.3
	Called Singtel Unpaid Shares	  	4.2(b)(i)
	Capital Contribution Grace Period	  	4.3
	Capital Contribution Schedule	  	3.2(c)
	Capital Contributions	  	4.1(a)
	CCG	  	5.5
	Committees	  	5.13(a)
	Company	  	Preamble
	Confidential Information	  	10.2(a)(ii)
	Data Sharing RPTs	  	Exhibit D
	Defaulting Shareholder	  	13.1
	Electing Shareholders	  	8.3(c)
	Eligible Purchaser	  	8.5(b)(iv)(III)
	Eligible Purchaser Period	  	8.5(b)(iv)(IV)
	ESOP	  	Recitals
	Event of Default	  	13.1
	Excess Subscribing Shareholders	  	9.1(c)
	Expanded Prohibited Person	  	8.5(b)(iv)(IV)
	Fair Market Value	  	8.5(b)(v)
	First Capital Contribution	  	4.2
	First Payment Date	  	4.2
	FMV Valuer	  	8.5(b)(v)(II)
	Forfeited Called Singtel Unpaid Shares	  	4.2(b)(iii)
	Further Reconvened Meeting	  	5.6
	Further Revised Capital Contribution Schedule	  	3.5
	GFG	  	Preamble
	GFG IPO Notice	  	12.2(b)
	GFG Public Offering	  	12.2(a)
	GFG Public Offering Date	  	12.2(a)
	GFG Shares	  	12.3(a)(i)
	GFG Valuer	  	12.5(a)(i)
	GFG’s Series A Valuation	  	12.7
	Grab	  	Preamble

  
 22 

			
	Grab Directed Purchaser	  	8.5(b)(iv)(IV)
	Grab Director Appointment Conditions	  	5.4(a), 5.4(a)
	Grab Directors	  	5.1(a)(ii)
	Grab Initial MAS Undertakings	  	2.2(i)
	Grab Loss of Singaporeaness Notice	  	8.5(a)
	Grab Parent	  	Preamble
	HoldCo Restructuring	  	12.8(a)
	Independent Director	  	5.2(a)
	Initial Business Plan	  	3.2(c)
	Institutional Investors Book-Building Exercise	  	12.3(b)(i)
	Issuance Notice	  	9.1(a)
	Issuance Offerees	  	9.1(a)
	Joint Valuer	  	12.5(a)(i)
	Lock-Up Period	  	8.1(b)(ii)
	Minister	  	2.1(a)
	Monetary Threshold	  	Exhibit D
	Mutual FMV Valuation Period	  	8.5(b)(v)(I)
	New HoldCo	  	12.8(a)
	New HoldCo Public Offering	  	12.8(a)
	New Subscriber	  	9.2(a)
	Nominating Shareholder	  	5.2(b)
	Non-Contributing Shareholder	  	4.3
	Non-Defaulting Shareholders	  	13.1
	Non-Permitted Shares	  	12.6(b)(ii)
	Offered Securities	  	9.1(a)
	Offering Shareholder	  	8.3(b)
	Other Shareholder Appointment Conditions	  	5.1(c)
	Other Shareholder Threshold	  	5.1(c)
	Outside Date	  	2.1
	Outstanding Contribution	  	4.3
	Permitted Swap Shares	  	12.6(b)(i)
	Prefunded Capital Contribution Date	  	2.2(c)
	Previous Shareholders’ Agreement	  	Recitals
	Pro Rata Proportion	  	8.3(c)(ii)
	Prospective Transferee	  	8.3(b)
	Proxy	  	8.5(b)(i)
	Quantum Acceleration	  	4.1(c)
	Quantum Acceleration Carve-Outs	  	4.1(d)
	Receiving Party	  	10.2(b)(i)
	Rejected Key Management Candidate	  	6.2(c)(i)
	Relevant Capital Contribution Schedule	  	4.1(c)(i)
	Relevant Investee Company	  	5.15(b)
	Relevant Key Management Position	  	6.2
	Relevant Nominee(s)	  	5.2(b)
	Relevant Subsidiary	  	Exhibit J
	Relevant Transaction Documents	  	2.1(e)

  
 23 

			
	Remaining Securities	  	9.2(a)
	Repeatedly Absent Director	  	5.6
	Requisite Internal Controls	  	Exhibit J
	Revised Business Plan	  	3.4
	Revised Business Plan Variation and/or Budget Variation	  	3.5
	Revised Capital Contribution Schedule	  	3.4
	ROFR Cash Price	  	8.3(d)
	ROFR Election Notice	  	8.3(b)
	ROFR Liquid Share Price	  	8.3(d)
	ROFR Notice	  	8.3(b)
	ROFR Period	  	8.3(b)
	ROFR Price	  	8.3(b)
	ROFR Shareholders	  	8.3(b)
	ROFR Shares	  	8.3(b)
	Second Adjourned Shareholders’ Meeting	  	7.1
	Shareholder RPTs	  	Exhibit E
	Shareholders’ Agreement	  	Exhibit B
	Shareholders’ Reserved Matters	  	7.4(a)
	SIAC	  	14.10
	Singtel	  	Preamble
	Singtel Director	  	5.1(a)(i)
	Singtel Director Appointment Conditions	  	5.3(a)(ii)
	Singtel Exercise Deadline	  	12.3(b)
	Singtel FinGroup	  	Preamble
	Singtel First Offer Option	  	8.5(b)(iv)(I)
	Singtel Initial MAS Undertakings	  	2.1(f)
	Singtel MAS Undertakings Period	  	12.5(g)
	Singtel Notice	  	12.3(a)(ii)(II)
	Singtel Option Period	  	8.5(b)(iv)(II)
	Singtel Parent	  	Preamble
	Singtel Unpaid Shares	  	2.2(d)
	Singtel Valuer	  	12.5(a)(i)
	SPAC	  	12.2(d)
	SPAC IPO	  	12.2(d)
	SPAC Merger	  	1.4(n)(i)
	SPAC Units	  	12.2(d)
	Stand-Off Provisions	  	12.1(c)
	Subscribing Shareholders	  	9.1(b)
	Subscription Agreement	  	Recitals
	Subscription Notice	  	9.1(b)
	Subsequent Business Plan and/or Budget	  	3.6
	Swap Effectiveness	  	12.5(f)
	Swap Option 1	  	12.3(a)(i)
	Swap Option 2	  	12.4
	Tag Acceptance Notice	  	8.4(d)
	Tag Trigger Transfer	  	8.4(a)(ii)
	Tag Trigger Transfer Shares	  	8.4(b)(ii)
	Tag-Along Notice	  	8.4(b)
	Tagging Shares	  	8.4(e)
	Tier 1 Tag Trigger Transfer	  	8.4(a)(i)
	Tier 2 Tag Trigger Transfer	  	8.4(a)(ii)
	Transferor Shareholder	  	8.6
	Voting Proxies	  	11.2(b)

  
 24 

 Section 1.3. Interpretation Act. The Interpretation Act, Chapter 1 of Singapore,
shall apply to this Agreement in the same way as it applies to an enactment. 
 Section 1.4. Rules of Construction. 

(a) Throughout this Agreement, nouns, pronouns and verbs shall be construed as masculine, feminine, neuter, singular or plural, whichever shall
be applicable. 
 (b) Unless otherwise specified, the terms “hereof,” “herein,” and “herewith” and words of
similar import shall refer to this Agreement as a whole, and all references herein to Schedules, Exhibits, Articles, Sections and paragraphs shall refer to corresponding provisions of this Agreement. The Schedules and Exhibits referred to herein
shall be construed with and as an integral part of this Agreement to the same extent as if they were set forth verbatim herein. 
 (c) The
headings and subheadings in this Agreement are included for convenience and identification only and are in no way intended to describe, interpret, define or limit the scope, extent or intent of this Agreement or any provision hereof. 

(d) The word “or” shall not be exclusive unless expressly indicated otherwise or unless the context requires otherwise. 

(e) References to “S$” or “Singapore Dollars” are to the lawful currency of Singapore. References to “US$” or
“dollars” are to the lawful currency of the United States of America. 
 (f) The word “extent” in the phrase “to the
extent” means the degree to which a subject or thing extends and such phrase shall not simply mean “if.” 
 (g) Whenever the
words “included”, “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation”. 

(h) The term “holding company” shall have the meaning given to it under the Companies Act. 

(i) Time periods within or following which any payment is to be made or act is to be done under this Agreement shall be calculated by excluding
the calendar day on which the fact, matter or circumstance occurs that sets in motion the applicable period and including the calendar day on which the period ends, and by extending the period to the next Business Day following if the last calendar
day of the period is not a Business Day. 

  
 25 

 (j) Unless the context otherwise requires or permits: 

(i) reference to a date or time of day is to that date or time in Singapore; 

(ii) the expression “acting in concert” shall have the meaning given to it in the Singapore Code on Take-overs and Mergers; 

(iii) where a word or phrase is defined, its other grammatical forms have a corresponding meaning; and 

(iv) reference to a company shall include any Person that is not an individual. 

(k) References to a statute or statutory provision: 

(i) include any subsidiary legislation made from time to time under that statute or provision; and 

(ii) refer to that statute or provision as from time to time modified, re-enacted or consolidated.

 (l) The term “outstanding” in respect of the shares of a company, means all the shares of such company in issue at the
relevant time, but excluding any shares of such company held in treasury, and the same shall apply mutatis mutandis to “outstanding voting rights”; provided, that, where it applies to the Company and the terms
“Shareholding Percentage”, “Grab Enhanced Threshold”, “Grab Threshold”, “Single Largest Shareholder”, “Singtel Enhanced Threshold” and “Singtel Threshold”, the term
“outstanding” in respect of the Class A Ordinary Shares means all the Class A Ordinary Shares in issue at the relevant time, but excluding any Shares held in treasury. 

(m) References to a “fully diluted basis” mean that the calculation is to be made assuming that all outstanding options,
warrants and other equity-linked securities of the Company convertible into or exercisable or exchangeable for Shares (whether or not by their terms then currently convertible, exercisable or exchangeable) have been so converted, exercised or
exchanged. 
 (n) All references to Grab Parent, GFG, Singtel Parent and Singtel FinGroup under this Agreement, shall include their
respective successor or acquirer as those terms are defined in this Section 1.4(n) and: 
 (i) all references to
“successor” mean (subject to compliance with Section 14.13(d)), in relation to a merger or combination of Grab Parent, GFG, Singtel Parent or Singtel FinGroup, respectively, with a SPAC or a Subsidiary or parent of a SPAC (the
“SPAC Merger”), the Person that is listed on a stock exchange pursuant to the SPAC IPO, following the SPAC Merger; and 

  
 26 

 (ii) all references to “acquiror” mean (subject to compliance with
Section 14.13(d)), in relation to an acquisition of all or materially all of the shares (or shares of capital stock) in, or all or materially all of the businesses, undertakings and assets of, Grab Parent, GFG, Singtel Parent or Singtel
FinGroup, respectively, pursuant to or in connection with a SPAC IPO, the Person (which may be the SPAC or a Subsidiary or parent of a SPAC) that is listed on a stock exchange pursuant to the SPAC IPO, 

except where Grab Parent is referenced in the definition of “Loss of Singaporeaness”, such reference to Grab Parent in the said definition
shall exclude Grab Parent’s successor or acquiror, unless and until MAS makes its determination and confirms in writing that such successor or acquiror fulfils and satisfies the Singaporean License Condition in lieu of Grab Parent. 

(o) Any reference to books, records or other information means books, records or other information in any form, including paper, electronically
stored data, magnetic media, film and microfilm. 
 (p) References to a “financial year” shall mean the period from
January 1 to December 31 of the applicable year. 
 Section 1.5. Unlawful fetters. The Company shall not be bound by
any provision of this Agreement to the extent that it would constitute an unlawful fetter on any of its statutory powers, but such provision shall remain valid and binding as regards any of the Shareholders to which it is expressed to apply. 

Section 1.6. Expanded Prohibited Person. Singtel shall have the right to update the scope of the term “Expanded Prohibited
Person” once every two (2) years by notice in writing given to Grab, by removing and replacing one (1) industry sector set out therein for another sector on The Global Industry Classification Standard developed by MSCI. 

ARTICLE II 
 CONDITIONAL
AGREEMENT; COOPERATION REGARDING DB LICENSE 
 Section 2.1. Conditions to Grab’s Obligations. Save for
the Pre-Effective Date Provisions, all rights and obligations of Grab under this Agreement are subject to the satisfaction or waiver (by Grab in accordance with Section 2.4(a)) of the Conditions Precedent
set out in this Section 2.1 below. The Conditions Precedent in (x) Sections 2.1(a) and (f) must be satisfied on or before the later of (I) 31 January 2022 and (II) five (5) weeks after the IPA Issuance Date (or such
other date as may be agreed in writing between the Parties) (“Outside Date”) and (y) Sections 2.1(b) to (e) must be satisfied or waived (by Grab in accordance with Section 2.4(a)) contemporaneously with
the Effective Date (provided, that the Effective Date is on or before the Outside Date). The Conditions Precedent to which this Section 2.1 applies are as follows: 

(a) Minister of Finance of Singapore (“Minister”) shall have approved each of Grab and Singtel as a shareholder of the Company
(and AT, Grab Parent, A2G Holdings Inc., GFG, Singtel Parent and Singtel FinGroup as 20% controllers and/or indirect controllers of the Company, as such terms are defined in the Banking Act), after the Company and both Grab and Singtel have accepted
the conditions in the IPA, and such approvals and the IPA shall not have been revoked or withdrawn; 
 (b) [Reserved] 

  
 27 

 (c) (i) Singtel shall have made its First Capital Contribution (less the full amount of the
Singtel Shareholder’s Loan), and the Company shall have issued such number of fully paid Class A Ordinary Shares to Singtel in respect of such First Capital Contribution as determined by dividing the amount of Singtel’s First Capital
Contribution (less the full amount of the Singtel Shareholder’s Loan) by S$1.00 and (ii) the Company shall have capitalised the Singtel Shareholder’s Loan into fully paid Class A Ordinary Shares and shall have issued such number
of fully paid Class A Ordinary Shares to Singtel in respect of the Singtel Shareholder’s Loan as determined by dividing the amount of the Singtel Shareholder’s Loan by S$1.00, in each case, on the First Payment Date and in accordance
with Section 4.2; 
 (d) (i) Singtel shall have approved the shareholders’ resolutions in relation to (I) the adoption of the
Amended Constitution, (II) the Share Specific Issuance Resolutions, (III) the Share Issuance Resolution, (IV) the cancellation of all existing authorisations for operating all accounts maintained by the Company with all banks,
(V) the passing of new authorisations in accordance to the authorisation matrix jointly approved by Grab and Singtel prior to the Effective Date and (VI) the notification of such new authorisations to the relevant banks, and (ii) the
Company shall have lodged the Amended Constitution with ACRA; 
 (e) Singtel (or its Affiliates, as the case may be) shall have delivered the
Regionalization Agreement, the Restrictive Covenant Agreement, the Exchange Agreement and the Collaboration Agreements (the “Relevant Transaction Documents”), duly executed by it or its Affiliates, as the case may be, and the
Company shall have delivered the aforesaid agreements to which it is a party, duly executed by it; and 
 (f) Singtel (and/or its Affiliates)
shall have provided and executed the written confirmations and undertakings required by MAS, including those set forth in Section VII of the Application for DB License (the “Singtel Initial MAS Undertakings”). 

Section 2.2. Conditions to Singtel’s Obligations. Save for the
Pre-Effective Date Provisions, all rights and obligations of Singtel under this Agreement are subject to the satisfaction or waiver (by Singtel in accordance with Section 2.4(a)) of each of the Conditions
Precedent set out in this Section 2.2 below. The Conditions Precedent in (x) Section 2.2(a) and (i) must be satisfied on or before the Outside Date; (y) Section 2.2(f), (g) and (h) must be satisfied or waived (by
Singtel in accordance with Section 2.4(a)) contemporaneously with the Effective Date (provided that the Effective Date is on or before the Outside Date) and (z) Sections 2.2(c), (d), (e) and (f)(II) must be satisfied or waived
(by Singtel in accordance with Section 2.4(a)) by the Prefunded Capital Contribution Date. The Conditions Precedent to which this Section 2.2 applies are as follows: 

(a) The Minister shall have approved each of Grab and Singtel as a shareholder of the Company (and Singtel Parent, Singtel FinGroup, AT, Grab
Parent, A2G Holdings Inc., and GFG as 20% controllers and/or indirect controllers of the Company, as such terms are defined in the Banking Act), after the Company and both Grab and Singtel have accepted the conditions in the IPA, and such approvals
and the IPA shall not have been revoked or withdrawn; 
 (b) [Reserved]; 

  
 28 

 (c) (i) Grab shall have made the Prefunded Capital Contribution on any date falling not
later than five (5) Business Days after fulfilment of the Conditions Precedent in Section 2.2(a) (the “Prefunded Capital Contribution Date”) and caused the Company to deliver to Singtel a copy of the Company’s bank
account statement showing that the Prefunded Capital Contribution has been credited into the Company’s bank account, and (ii) the Company shall have issued such number of fully paid Class A Ordinary Shares to Grab in respect of the
Prefunded Capital Contribution as determined by dividing the amount of the Prefunded Capital Contribution by S$1.00, in each case, on the Prefunded Capital Contribution Date and in accordance with Section 4.2; 

(d) the Company shall have issued such number of unpaid Class A Ordinary Shares to Singtel on the Prefunded Capital Contribution Date (the
“Singtel Unpaid Shares”) such that, following such issuance on the Prefunded Capital Contribution Date, together with the issuance to Grab referred to in Sections 2.2(c) and (e), Singtel shall hold in aggregate such number of
Class A Ordinary Shares that represents forty per cent (40%) of the Class A Ordinary Shares at such time; 
 (e) Grab shall have
capitalised the Grab Shareholder’s Loan into fully paid Class A Ordinary Shares, and the Company shall have issued such number of fully paid Class A Ordinary Shares to Grab in respect of the Grab Shareholder’s Loan as determined
by dividing the amount of the Grab Shareholder’s Loan by S$1.00, on the Prefunded Capital Contribution Date and in accordance with Section 4.2; 

(f) (i) Grab shall have approved the shareholders’ resolutions in relation to (I) the adoption of the Amended Constitution,
(II) the Share Specific Issuance Resolutions, (III) the Share Issuance Resolution, (IV) the cancellation of all existing authorisations for operating all accounts maintained by the Company with all banks, (V) the passing of new
authorisations in accordance to the authorisation matrix jointly approved by Grab and Singtel prior to the Effective Date and (VI) the notification of such new authorisations to the relevant banks, and (ii) the Company shall have lodged
the Amended Constitution with ACRA; 
 (g) Grab shall have delivered to Singtel written consents from AT, SVF Investments (UK) Limited, Uber
Technologies, Inc., Marvelous Yarra Limited and Xiaoju Kuaizhi, Inc., in their capacities as shareholders of Grab Parent, in respect of their approval of this Agreement and the Company carrying on the business as contemplated by the Transaction
Documents; 
 (h) Grab or its Affiliates, as the case may be) shall have delivered the Relevant Transaction Documents, duly executed by it or
its Affiliates, as the case may be, and the Company shall have delivered the aforesaid agreements to which it is a party, duly executed by it; and 

(i) Grab (and/or its Affiliates) shall have provided and executed the written confirmations and undertakings required by MAS, including those
set forth in Section VII of the Application for DB License (the “Grab Initial MAS Undertakings”). 

  
 29 

 Section 2.3. Responsibility for Satisfaction. 

(a) Singtel shall procure and ensure the satisfaction of the Conditions Precedent set out in Sections 2.1(c)(i), (d)(i) and (f) (except to
the extent that those provisions in those Sections are expressed to be the obligations of the Company). 
 (b) Grab shall procure and ensure
the satisfaction of the Conditions Precedent in Sections 2.2(c)(i), (e), (f)(i), (g) and (i) (except to the extent that those provisions in those Sections are expressed to be the obligations of the Company). 

(c) Each of Grab and Singtel shall procure and ensure the satisfaction of the Condition Precedent set out in Section 2.1(e) and
Section 2.2(h) (except to the extent that those provisions in those Sections are expressed to be obligations of the respective other Party), subject to the terms and conditions of each of the Relevant Transaction Documents having been mutually
agreed by Grab and Singtel. 
 (d) The Company shall, and Grab and Singtel shall use commercially reasonable efforts (including the exercise
of their voting rights in the Company, to the extent applicable) to ensure that the Company shall, ensure the satisfaction of the Conditions Precedent set out in Sections 2.1 and 2.2 which are expressed to be the obligations of the Company. For
the avoidance of doubt, the obligation of the Company to deliver any of the Relevant Transaction Documents to which it is a party, duly executed by it, is subject to the terms and conditions of such Relevant Transaction Document having been mutually
agreed by Grab and Singtel. 
 Section 2.4. Non-Satisfaction/Waiver. 

(a) Grab may at any time waive in whole or in part and conditionally or unconditionally the Conditions Precedent set out in Sections 2.1(b) to
(f) by notice in writing to the other Parties, and Singtel may at any time waive in whole or in part and conditionally or unconditionally the Conditions Precedent set out in Sections 2.2(b) to (i) by notice in writing to the other Parties.

 (b) If the Conditions Precedent in Sections 2.1 or 2.2 are not satisfied or (if applicable) waived (in accordance with
Section 2.4(a)) on or before the Outside Date, save as expressly provided, this Agreement (other than the Surviving Provisions) shall lapse and neither Party shall have any claim against the other Parties under it, save for any claim arising
from antecedent breaches of this Agreement. 
 Section 2.5. Effective Date. All provisions in this Agreement (other than the Pre-Effective Date Provisions) shall come into effect on the Effective Date. It is acknowledged and agreed that the Pre-Effective Date Provisions have come into effect on the
date of the Previous Shareholders’ Agreement. 
 Section 2.6. Changes to MAS Undertakings. Prior to seeking any changes of
or amendments to the Grab MAS Undertakings or the Singtel MAS Undertakings, as the case may be, Grab or Singtel, respectively, shall consult with the respective other Party. 

  
 30 

 ARTICLE III 

BUSINESS; BUSINESS PLAN 

Section 3.1. Business. 

(a) The business of the DB Group shall be that of providing banking (including digital banking) and other financial services to retail and non-retail customer segments in Singapore and, on and subject to the terms and conditions set out (or to be set out) in the Regionalization Agreement (including the Regional Participation Principles (as such term
shall be defined in the Regionalization Agreement)), some or all of the countries in South-East Asia, and such other businesses as may be contemplated by the Business Plan for South-East Asia (from time to time) (“Business”). 

(b) Subject to the terms and conditions set out in the Regionalization Agreement (including the Regional Participation Principles (as such term
is defined in the Regionalization Agreement)), it is the intention of the Shareholders to use the Company as the primary vehicle to explore banking (including digital banking) and other financial services opportunities in South-East Asia. 

(c) Without prejudice to the other provisions of this Agreement (including with respect to the Loss of Singaporeaness, Capital Contributions
and Quantum Accelerations), the Company shall, and the Shareholders shall use commercially reasonable efforts (including the exercise of their voting rights in the Company, to the extent applicable) with a view to ensuring that the Company will:

 (i) comply with this Agreement; 

(ii) ensure that the DB Group complies at all times with all applicable Laws and all license conditions imposed by the relevant Government
Authorities (including the License Conditions); and 
 (iii) to the extent required by the MAS Undertakings, maintain sound liquidity and a
sound financial position at all times. 
 Section 3.2. Business Plan and Initial Business Plan. 

(a) A Business Plan shall set out: 

(i) the business strategies of the DB Group Companies for the next financial year and the subsequent four financial years; and 

(ii) the Budget for the next financial year and financial projections for the subsequent four financial years. 

(b) A Budget shall set out, in respect of a financial year: 

(i) all expected operating costs including the capital expenditures, technology costs, staffing costs, revenue projections for that financial
year; and 

  
 31 

 (ii) a forecasted balance sheet, profit and loss statement and cash flow statement for that
financial year. 
 (c) The initial Business Plan for the First Six Years (which includes the initial Budget and the initial capital
contribution schedule) is attached hereto as Exhibit A (the “Initial Business Plan,” and such initial capital contribution schedule, the “Capital Contribution Schedule”). 

Section 3.3. Initial Business Plan Variation. If the KPIs for the preceding financial year of the Company have met the
requirements set forth in the Initial Business Plan with respect to such preceding financial year, any variation to the Initial Business Plan (or the Budget contained therein) (“Business Plan Variation and/or Budget Variation”, as
the case may be) shall be effected as follows: 
 (a) the CEO and the CFO shall propose the Business Plan Variation and/or Budget Variation
to the Board; and 
 (b) the Board shall consider whether to approve the proposed Business Plan Variation and/or Budget Variation, which
approval shall be by way of a Board resolution (with a simple majority vote in favour), provided, that, if any such Business Plan Variation and/or Budget Variation results in: 

(i) any requirement for Capital Contributions in excess of S$1.93 billion in the aggregate; or 

(ii) any Quantum Acceleration (other than the Quantum Acceleration Carve-Outs), 

then approval of any such Business Plan Variation and/or Budget Variation shall further require approval as a Board Reserved Matter or by Grab and Singtel as
a Shareholders’ Reserved Matter, if and as applicable. If any such Business Plan Variation and/or Budget Variation is not approved by the requisite Board resolution as aforesaid or (if and as applicable) by Grab and Singtel as a
Shareholders’ Reserved Matter, the Initial Business Plan (including the Budget and Capital Contribution Schedule contained therein) shall continue to apply. 

Section 3.4. Revised Business Plan. If the KPIs for the preceding financial year failed to meet the requirements set forth in the
Initial Business Plan with respect to such preceding financial year, the revised Initial Business Plan (including the revised Budget) to be subsequently agreed in writing between Grab and Singtel shall be the new Business Plan (the “Revised
Business Plan”). Any further Capital Contributions to be made by Grab and Singtel to the Company shall then be made in accordance with the revised capital contribution schedule set forth in the Revised Business Plan (“Revised
Capital Contribution Schedule”). 
 Section 3.5. Revised Business Plan Variation. Any variation to the Revised Business
Plan (or to the Budget contained therein) (the “Revised Business Plan Variation and/or Budget Variation”) shall require approval as a Shareholders’ Reserved Matter, and otherwise the Revised Business Plan (including the Budget
contained therein) shall continue to apply. If a Revised Business Plan Variation and/or Budget Variation is so approved, any further Capital Contributions to be made by Grab and Singtel to the Company shall be made in accordance with the further
revised capital contribution schedule set forth in the Revised Business Plan Variation and/or Budget Variation (“Further Revised Capital Contribution Schedule”). This Section 3.5 shall apply regardless of whether the Company
meets or fails to meet the KPIs for the preceding financial year of the Company set forth in the Revised Business Plan with respect to such preceding financial year. If Grab and Singtel are unable to agree on a Revised Business Plan Variation and/or
Budget Variation, the Revised Business Plan (including the revised Budget contained therein) shall continue to apply. 

  
 32 

 Section 3.6. Subsequent Business Plans. Any Business Plan or Budget for any
period after the First Six Years (each, a “Subsequent Business Plan and/or Budget”) shall be established as follows: 
 (a)
the CEO and the CFO shall propose the Subsequent Business Plan and/or Budget to the Board no later than sixty (60) calendar days prior to the end of the last financial year of the Company covered by the Initial Business Plan (as the same may
have been revised in accordance with Sections 3.3 through 3.5); 
 (b) the Board shall consider whether to approve the Subsequent
Business Plan and/or Budget, which approval shall be by way of a Board resolution (with a simple majority vote in favour (including the affirmative vote of at least one Grab Director and the Singtel Director)); and 

(c) in relation to any Subsequent Business Plan and/or Budget, the following shall apply: 

(i) if the Subsequent Business Plan and/or Budget is not approved by the Board in accordance with Section 3.6(b), the CEO and the CFO
shall consult with both Grab and Singtel to discuss amendments to such Subsequent Business Plan and/or Budget. If after thirty (30) calendar days from the first date of such approach, Grab or Singtel do not agree to such Subsequent Business
Plan and/or Budget or amendments thereto, the CEO and the CFO shall discuss the same with the Chief Executive of Grab Parent and the Chief Executive of Singtel Parent, who may also have further discussions directly with each other as needed; 

(ii) if after thirty (30) calendar days from the first date that the CEO and the CFO approach both the Chief Executive of Grab Parent and
the Chief Executive of Singtel Parent, and either Chief Executive does not agree with such Subsequent Business Plan and/or Budget or amendments thereto, the CEO and the CFO shall consider any concerns raised by Grab and Singtel and propose a further
revised Subsequent Business Plan and/or Budget to the Board; 
 (iii) the Board shall consider whether to approve such further revised
Subsequent Business Plan and/or Budget, which approval shall be by way of a Board resolution (with a simple majority vote in favour), 
 provided,
that if such revised Subsequent Business Plan and/or Budget results in a requirement for Grab or Singtel to make its pro rata Capital Contributions in excess of S$1.93 billion in the aggregate, then approval of any such Subsequent Business Plan
and/or Budget shall further require approval as a Board Reserved Matter or by Grab and Singtel as a Shareholders’ Reserved Matter, as applicable. 

  
 33 

 (d) For the avoidance of doubt, any Revised Business Plan, Business Plan Variation and/or
Budget Variation or Revised Business Plan Variation and/or Budget Variation shall not be considered a Subsequent Business Plan and/or Budget. 

ARTICLE IV 
 CAPITAL
CONTRIBUTIONS 
 Section 4.1. Amount and Timing of Capital Contributions in General; Increases of Capital Contributions;
Carve-Outs. 
 (a) Grab and Singtel shall make cash contributions to the Company of up to S$1.93 billion in the aggregate, by wire
transfer of immediately available funds, in each case at the same time and pro rata to their respective Shareholder Group’s Shareholding Percentages at the applicable time, on the payment dates and in the amounts set forth in the Relevant
Capital Contribution Schedule, as the case may be (such cash contributions by Grab and Singtel, as may be varied from time to time in accordance with this Agreement, the “Capital Contributions”), subject to the proviso in
Section 4.2 in relation to application of the Prefunded Capital Contribution and the Singtel Shareholder’s Loan. It is understood and agreed that the Capital Contribution obligations set forth in the Initial Business Plan (or, if
applicable, in the Business Plan Variation and/or Budget Variation) are subject to the KPIs set forth therein for the preceding financial year being met, and if such KPIs are not met, the Revised Capital Contribution Schedule (or, if applicable, the
Further Revised Capital Contribution Schedule) shall apply. 
 (b) Grab and Singtel acknowledge and agree that the Capital Contributions
obligations set forth in the Initial Business Plan, the Business Plan Variation and/or Budget Variation, the Revised Business Plan or the Revised Business Plan Variation and/or Budget Variation, as the case may be, contain certain assumptions made
with respect to the requirements requested by MAS. Grab and Singtel further acknowledge and agree that the Relevant Capital Contribution Schedule, as the case may be, shall be adjusted as soon as practicable to maintain the minimum paid-up capital requirements imposed or requested by MAS and the timing required to increase the total share capital of the Company to S$1.93 billion. 

(c) Subject to Section 4.1(d), any increase of the obligations of Grab and Singtel to make Capital Contributions (any such increase, a
“Quantum Acceleration”): 
 (i) under any tranche as set forth in: 

 

	 	(I)	 the Capital Contribution Schedule; 

 

	 	(II)	 the Revised Capital Contribution Schedule; 

 

	 	(III)	 the Further Revised Capital Contribution Schedule; or 

 

	 	(IV)	 any other capital contribution adopted or varied in respect of any of the First Six Years in accordance with
Sections 3.3 through 3.5, 

  
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 (any of the foregoing, a “Relevant Capital Contribution Schedule”); or

 (ii) resulting in any requirement for Capital Contributions in excess of S$1.93 billion in the aggregate, 

shall require approval as Board Reserved Matters or by Grab and Singtel as Shareholders’ Reserved Matters, as applicable. For the avoidance of doubt,
Quantum Accelerations and Quantum Acceleration Carve-Outs shall not apply with respect to (A) any Subsequent Business Plan and/or Budget (or any capital contributions by Grab or Singtel thereunder), or (B) any other subsequent capital
contribution schedule adopted or varied in respect of any period after the First Six Years in accordance with Section 3.6 (or any capital contributions by Grab or Singtel thereunder), which, in each case, shall require approval as
Shareholders’ Reserved Matters in any event. 
 (d) Under the following circumstances, Quantum Accelerations shall not require approval
as a Shareholders’ Reserved Matter (the “Quantum Acceleration Carve-Outs”), provided, that (x) where the applicable Relevant Capital Contribution Schedule is the Capital Contribution Schedule, the Company’s
KPIs for the preceding financial year of the Company have met the requirements set forth in the Initial Business Plan for such year or (y) where the applicable Relevant Capital Contribution Schedule is the Revised Capital Contribution Schedule,
the Company’s KPIs for the preceding financial year of the Company have met the Revised Business Plan for such year: 
 (i) if the CEO
and the CFO decide to postpone the timing of, or reduce the quantum required in, any tranche. Such postponement or reduction shall also not affect the amount of capital the Company can call for in the later tranches which shall be adjusted
accordingly. For example, if the Capital Contribution Schedule provides that the Company may call for S$160 million in Year 3 and S$240 million in Year 4, if the Company decides it only needs S$100 million in Year 3, it may postpone
the call for the remaining S$60 million (that it could otherwise have called in Year 3) to Year 4 (or a later period as it desires), and this postponement shall not affect the Company’s ability to call for S$240 million in Year 4. In
the event that the amount of capital that can be called for in Year 4 changes because the Company has failed to meet the KPIs under the Initial Business Plan or Revised Business Plan, as applicable, the Company shall still be permitted to call for
the remaining S$60 million from Year 3 not previously called for; 
 (ii) following the First Payment Date, provided, that the
Initial Business Plan continues to apply, in the event the CEO and the CFO determine that there is a need to vary the Capital Contribution Schedule by imposing a Quantum Acceleration in relation to any tranche, then the Board may approve a Quantum
Acceleration of up to ten per cent (10%) above the applicable amount for such tranche, which approval shall be by way of a Board resolution (with a simple majority vote in favour). Grab and Singtel will only be required to fund any such Quantum
Acceleration if the Company has given not less than two (2) months prior written notice of the same; or 

  
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 (iii) following the Company’s failure to meet KPIs for any financial year of the
Company in the Initial Business Plan and the application of the Revised Business Plan, provided, that the Revised Business Plan continues to apply and the Company meets the KPIs in the Revised Business Plan for the applicable financial year,
in the event the CEO and the CFO determine that there is a need to vary the Revised Capital Contribution Schedule by imposing a Quantum Acceleration in relation to any tranche, then the Board may approve a Quantum Acceleration by up to ten per cent
(10%) above the applicable amount for such tranche, which approval shall be by way of a Board resolution (with a simple majority vote in favour). Grab and Singtel will only be required to fund any such Quantum Acceleration if the Company has given
not less than two (2) months prior written notice of the same. 
 (e) Grab and Singtel acknowledge and agree that no requirement for
Capital Contributions shall be imposed (i) on Grab in excess of S1,160 million in the aggregate or (ii) on Singtel in excess of S$770 million in the aggregate (for an aggregate amount of Capital Contributions by Grab and Singtel
equal to S$1.93 billion in the aggregate) other than if approved by Grab and Singtel as Shareholders’ Reserved Matters. For the avoidance of doubt, references to “requirements” or words of similar import in connection with
Capital Contributions shall not be construed to mean voluntary decisions by Shareholders to contribute capital to the Company. 
 (f) In the
event that, in relation to any additional Capital Contribution in excess of S$1.93 billion in the aggregate: 
 (i) the approval
required under Section 7.4 cannot be obtained during the period commencing on the date the resolution in relation to such Shareholders’ Reserved Matter is first tabled or circulated and ending on the earlier of (x) the expiration of
sixty (60) days therefrom and (y) such date as the MAS requires; 
 (ii) (x) the DB Group has raised or taken steps to raise the
required funding via debt issuance and asset sale, (y) the “early warning” stage of the exit plan approved by the Board and accepted by the MAS has been triggered, and (z) the MAS has given direction to Shareholders to
recapitalise the Company, 
 a deadlock shall be deemed to arise in respect of such Shareholders’ Reserved Matter, which shall then be resolved as
follow: 
  

	 	(I)	 Grab or Singtel may serve a notice on the other requiring such Shareholders’ Reserved Matter to be
referred to the Group Chief Executive Officers of Grab Parent and Singtel Parent for resolution as promptly as practicable; 

  

	 	(II)	 if such deadlock remains unresolved during the period commencing on the date of the notice referred to in
Section 4.1(f)(iii)(I) above and ending on the earlier of (x) the expiration of sixty (60) days therefrom and (y) such date as the MAS requires, each of Grab and/or Singtel shall be entitled (but is not obliged) to fund the
Company voluntarily up to the aggregate amount required by the MAS (the “MAS Aggregate Amount”) by way of capital injection through the subscription of new Class A Ordinary Shares, provided that, unless otherwise agreed
by Grab and Singtel in writing: 

  
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	 	(A)	 in the event both Grab and Singtel decide to fund the Company voluntarily (1) such funding shall be on a
basis that is pro rata to the Shareholding Percentage of Grab and Singtel inter se at the relevant time, computed by reference to the MAS Aggregate Amount (“Pro Rata Proportion”), and each new
Class A Ordinary Share shall be subscribed for by Grab and Singtel at the Fair Market Value, provided further that if either Grab or Singtel decides to fund less than its Pro Rata Proportion, then, the other Party shall be
entitled (but is not obliged) to fund up to the proportion of the MAS Aggregate Amount that is not funded by Grab or Singtel (as the case may be). For the purpose of this Section 4.1(f)(ii)(II)(A), the Fair Market Value per Class A
Ordinary Share shall be determined in accordance with the provisions of Section 8.5(b)(v) applied mutatis mutandis; and 

  

	 	(B)	 in the event either Grab or Singtel (and not both of them) decides not to fund the Company, then, the other
Party (the “Funding Party”) shall be entitled to fund up to the MAS Aggregate Amount, and each new Class A Ordinary Share shall be subscribed for by the Funding Party at the Fair Market Value. For the purpose of this
Section 4.1(f)(ii)(II)(B), the Fair Market Value per Class A Ordinary Share shall be determined by an internationally recognized, independent accounting firm or investment bank (“Relevant Valuer”), which shall be deemed
independent if it has not audited the consolidated financial statements of, or performed advisory services for, either of Grab Parent or Singtel Parent in respect of any of their last three (3) financial years, to be nominated by the Party
which has decided not to fund the Company (the “Non-Funding Party”). The Relevant Valuer shall act as an expert and not arbitrator, and both the Funding Party and Non-Funding Party agree that the determination of the Fair Market Value in accordance with this Section 4.1(f)(ii)(II)(B), shall (in the absence of manifest error) be final and binding and conclusive on the
Funding Party and Non-Funding Party, non-appealable and not subject to further review. The fees and expenses of the Relevant Valuer in connection with its determination
of Fair Market Value under this Section 4.1(f)(ii)(II)(B) shall be borne in their entirety by the Funding Party. 

  
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 For the avoidance of doubt, the election of either Shareholder not to effect such funding
shall not constitute an Event of Default and the provisions of Section 4.3 shall not apply. 
 Section 4.2. First Capital
Contribution; Subsequent Capital Contributions. Within one (1) month (or such shorter period as MAS may require) after the CP Fulfilment Date (the “First Payment Date”), Grab and Singtel shall contribute to the Company
their respective first tranche set forth in the Capital Contribution Schedule (“First Capital Contribution”); provided that, in relation to any obligation of Grab to contribute any tranche under the Capital Contribution
Schedule, and in relation to any obligation of Singtel to contribute any tranche under the Capital Contribution Schedule, the Prefunded Capital Contribution or the Singtel Shareholder’s Loan, respectively, shall be applied towards (and thus
reduce) each applicable tranche of the Capital Contribution Schedule in the order in which the applicable tranches under the Capital Contribution Schedule fall due; provided, further, that, to the extent that the Prefunded Capital
Contribution or the Singtel Shareholder’s Loan exceeds the respective First Capital Contribution, in the order in which the applicable tranches under the Capital Contribution Schedule fall due. For the avoidance of doubt, Grab’s First
Capital Contribution will be reduced to zero by the application of the Prefunded Capital Contribution as aforesaid, and any excess will be applied towards (and thus reduce) each applicable tranche of Grab’s Capital Contributions in the order in
which the applicable tranches under the Capital Contribution Schedule fall due. The Company shall timely provide wire instructions to Grab and Singtel. Following receipt by the Company: 

(a) of the applicable wire from Grab with respect to any Capital Contribution in excess of the Prefunded Capital Contribution, the Company
shall promptly allot and issue to Grab the applicable number of Class A Ordinary Shares, fully paid; and 
 (b) of the applicable wire
from Singtel with respect to the First Capital Contribution (less the Singtel Shareholder’s Loan) and any subsequent Capital Contribution, the Company shall first apply such contributions paid by Singtel towards payment in full of any Singtel
Unpaid Shares then remaining unpaid, until such time as all the Singtel Unpaid Shares shall have become fully paid-up. Thereafter, the Company shall promptly allot and issue to Singtel the applicable number of
Class A Ordinary Shares, fully paid, 
 and in the case of each of clauses (a) and (b), the Company shall provide the applicable Shareholder with
duly executed share certificates and update its electronic register of members and Schedule I hereto accordingly. 
 In respect of the Singtel Unpaid
Shares, the Parties agree (notwithstanding any provisions to the contrary in this Agreement, the Constitution or under applicable Law) that the following provisions shall apply (which provisions shall also be reflected in the Amended Constitution):

 (x) in respect of any Capital Contribution by Singtel in accordance with the Relevant Capital Contribution Schedule (including the
capitalization by Singtel of the Singtel Shareholder’s Loan as contemplated by Section 2.1(c)): 

  
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 (i) such Capital Contribution shall first be applied by the Company towards making full
payment in respect of such number of Singtel Unpaid Shares that can be fully paid up pursuant to the said Capital Contribution (such number of Singtel Unpaid Shares, the “Called Singtel Unpaid Shares”) (and for the avoidance of
doubt, shall not, without the prior written consent of Singtel, be applied towards partial payment in respect of any Singtel Unpaid Shares), and the Company shall provide Singtel with its filings with ACRA reflecting the same. Purely for
illustration purposes only, assuming the amount of Capital Contribution pursuant to the Relevant Capital Contribution Schedule at the relevant time is S$10 million, and the aggregate number of Singtel Unpaid Shares held by Singtel at the
relevant time is 100 million, each issued at an issue price of S$1 each, then, such S$10 million Capital Contribution shall be applied towards making full payment in respect of 10 million Singtel Unpaid Shares, with the remaining
90 million Singtel Unpaid Shares remaining unpaid (and not towards partial payment of each of the 100 million Singtel Unpaid Shares, or any other number of such Singtel Unpaid Shares, without the prior written consent of Singtel); 

(ii) the Company shall be deemed to have made calls in respect of (and for such amounts as contemplated in subclause (x)(i) above) the Called
Singtel Unpaid Shares on the relevant payment date of such Capital Contribution, and may not make calls (or be deemed to have made calls) for any amounts in respect of the Singtel Unpaid Shares other than in accordance with the Relevant Capital
Contribution Schedule and the Amended Constitution; 
 (iii) the Company shall only be entitled to forfeit any Called Singtel Unpaid Shares
that remain unpaid after (I) Singtel is a Non-Contributing Shareholder pursuant to Section 4.3 in respect such Capital Contribution and (II) Singtel fails to rectify such non-payment by the expiry of the Capital Contribution Grace Period (such Called Singtel Unpaid Shares, the “Forfeited Called Singtel Unpaid Shares”); and 

(y) the Company shall not have any lien upon any Singtel Unpaid Shares which are not fully paid up, it being expressly agreed that all recourse
by the Parties (including the Company) against Singtel as a Non-Contributing Shareholder shall be as provided under this Agreement (including Section 4.3 and Article XIII). 

The Parties agree that the Amended Constitution shall provide that: 

(A) each Singtel Unpaid Share carries one vote regardless of whether such Share is paid up or not; 

(B) the rights, privileges or conditions attaching to Class A Ordinary Shares may be varied or revoked with the consent of the holders of not less than
75 per cent. of the issued Class A Ordinary Shares, regardless of whether such Class A Ordinary Shares are paid up or not; and 
 (C) Singtel
may pay up all or any part of the money uncalled and unpaid upon any Singtel Unpaid Shares held by it in its discretion (including any part of the money uncalled and unpaid on any Singtel Unpaid Shares). 

  
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 Section 4.3. Failure to Fund. If Grab or Singtel (the “Non-Contributing Shareholder”) does not make its Capital Contributions to the Company in full pursuant to the Relevant Capital Contribution Schedule (the “Outstanding Contribution”) within
ten (10) Business Days of (i) the relevant payment date of such Capital Contribution or (ii) receipt of written notice by the Company of such payment date (whichever is later), the Company shall give such Non-Contributing Shareholder written notice requiring it to provide the relevant payment. The Non-Contributing Shareholder shall rectify such
non-payment within an additional three (3) Business Days following the end of the initial ten (10) Business Days-period (such additional period, the “Capital Contribution Grace
Period”), failing which, without prejudice to any other remedies available to the Company or any of Grab or Singtel who is not a Non-Contributing Shareholder, the
Non-Contributing Shareholder shall, during the period of such non-compliance, and notwithstanding any provision to the contrary in this Agreement or the Constitution:

 (a) lose its right (I) to appoint one or more non-Independent Directors pursuant to Article
V, (II) to nominate one or more Independent Directors pursuant to Article V and (III) to nominate members of the key management of the Company pursuant to Article VI; 

(b) lose any information rights given to the Non-Contributing Shareholder under Section 10.3 other
than with respect to any such information as the Non-Contributing Shareholder or its Affiliates require for accounting, tax and/or regulatory purposes; 

(c) lose its right to veto any Board Reserved Matter or Shareholders’ Reserved Matter, or to be counted as part of the quorum for any
general meeting of the Company or to have its Director be counted as part of the quorum for any Board meeting; 
 (d) be diluted to the
extent that the other Shareholder or a third party (pursuant to Section 4.4) contributes equity capital in the amount of the Outstanding Contribution; 

(e) be a Defaulting Shareholder pursuant to Article XIII; and 

(f) in the case of Singtel, forfeit the Forfeited Called Singtel Unpaid Shares (where applicable), in accordance with the forfeiture provisions
in the Amended Constitution. For the avoidance of doubt, in such event, only the Forfeited Called Singtel Unpaid Shares (where applicable) may be forfeited by the Company in accordance with the forfeiture provisions in the Amended Constitution, and
no other Singtel Unpaid Shares may be forfeited at such time. 
 For the avoidance of doubt, any failure or delay by the Company in giving written notice to
such Non-Contributing Shareholder requiring it to provide the relevant payment, shall not affect the Non-Contributing Shareholder’s obligation to rectify such non-payment within the Capital Contribution Grace Period. 
 Section 4.4. Contribution by a Third
Party. 
 (a) Subject to MAS’ prior approval, in the event that a Non-Contributing
Shareholder fails to make an Outstanding Contribution pursuant to Section 4.3 above, the other Shareholder who has made its corresponding Capital Contribution shall be entitled to negotiate the terms of admission of a third party as a new
Shareholder in the Company for the contribution by such third party of the amount corresponding to the Outstanding Contribution, and the Company hereby makes or grants offers to such third party to subscribe for such new Shares. 

(b) The issuance of new Shares to such third party or any other matter for the purposes of effecting such capital contribution that is: 

  
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 (i) required to be approved as a Board Reserved Matter or Shareholders’ Reserved
Matter, as applicable, shall not be a Board Reserved Matter for the non-Independent Director(s) appointed by the Non-Contributing Shareholder (i.e., if, for example,
Grab is the Non-Contributing Shareholder, the affirmative vote of the Grab Directors shall not be required) nor a Shareholders’ Reserved Matter for the
Non-Contributing Shareholder; or 
 (ii) required to be approved by the Board or the Shareholders
other than as a Board Reserved Matter or Shareholders’ Reserved Matter, respectively, shall not require the affirmative vote(s) of the non-Independent Director(s) appointed by the Non-Contributing Shareholder nor the affirmative vote of the Non-Contributing Shareholder. 

(c) To the extent that any reasonable amendments to this Agreement or the Constitution are requested by the incoming third party, the Non-Contributing Shareholder shall agree to such amendments in good faith. 
 ARTICLE V 

THE BOARD 

Section 5.1. Size and Composition of the Board. 

(a) Subject to Section 5.1(c) and Section 5.5, the Parties agree that during the First Five Years, the Board shall consist of not
more than five (5) Directors of which: 
 (i) Singtel shall be entitled to appoint one (1) Director (the “Singtel
Director”) pursuant to and subject to the conditions set forth in Section 5.3; 
 (ii) Grab shall be entitled to appoint two
(2) Directors (the “Grab Directors”) pursuant to and subject to the conditions set forth in Section 5.4 (it being understood and agreed that Grab has nominated Hsieh Fu Hua as an Independent Director (in addition to
Grab’s nomination of another Independent Director) until further written notice by Grab to the Company and Singtel, and that the foregoing shall not in any way amend, deviate from or supersede Grab’s right to appoint two (2) Grab
Directors and one (1) Independent Director subject to the terms and conditions of Section 5.2 and Section 5.4); 
 (iii) two
(2) Directors shall be Independent Directors (as defined in Section 5.2(a)), and each of Grab and Singtel shall be entitled to nominate one (1) Independent Director subject to Section 5.2; 

(iv) at least one-third of the Board shall be Independent Directors; and 

(v) the majority of the Board shall be Singapore citizens or Singapore permanent residents; 

provided, that, if and for so long as Singtel meets the Singtel Enhanced Threshold and Singtel is not a
Non-Contributing Shareholder, Singtel shall obtain Grab’s rights under Sections 5.1(a)(ii), 5.4 and 5.7 applied mutatis mutandis (but for the avoidance of doubt, not under
Section 5.13), and Grab shall obtain Singtel’s rights under Sections 5.1(a)(i) and 5.3 applied mutatis mutandis. 

  
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 (b) Subject to Section 5.1(c) and Section 5.5, following the First Five Years, the
majority of the Board shall be Independent Directors and the size of the Board shall be increased to not more than seven (7) Directors. The additional two (2) Directors shall be Independent Directors, and each of Grab and Singtel shall be
entitled to nominate one (1) of such additional Independent Directors (such that, in the aggregate, each of Grab and Singtel shall be entitled to nominate two (2) Independent Directors) subject to Section 5.2. 

(c) Notwithstanding the provisions of Sections 5.1(a) and (b), but subject to Section 5.5, a Shareholder (other than Grab, Singtel or
their respective Shareholder Group) which continues to own Class A Ordinary Shares representing at least 20% of the then outstanding voting rights in respect of Class A Ordinary Shares at that time (the “Other Shareholder
Threshold”), and is not a Non-Contributing Shareholder (the “Other Shareholder Appointment Conditions”), shall be entitled to nominate one (1) Director. The provisions of
Sections 5.3(a) and (b) shall apply mutatis mutandis to such Shareholder’s right to appoint and remove one (1) Director, and all references in Sections 5.3(a) and (b) to “Singtel”, “Singtel
Threshold”, “Singtel Director” and “Singtel Director Appointment Conditions” shall be read to mean such Shareholder, “Other Shareholder Threshold”, the Director nominated by such Shareholder and “Other
Shareholder Appointment Conditions”, respectively. 
 (d) Any non-Independent Director (other
than an alternate Director) may, by notice in writing delivered to the Company, or in any other manner approved by the Board, appoint any individual willing to act to be his or her alternate. The appointment of an alternate Director who is not
already a Director or alternate Director to another non-Independent Director will require the approval of the Board and shall, in any event, comply with Section 5.5. The appointment of an alternate
Director shall ipso facto terminate on the occurrence of any event which if he were a Director would render his office as a Director to be vacated and his appointment shall also ipso facto terminate if his appointor ceases for any
reason to be a Director. An alternate Director shall be entitled to receive notices of meetings of the Directors and to attend and vote as a Director at any such meeting at which the Director appointing him is not personally present or is otherwise
unable to act as such Director, and to perform all functions of his appointor as a Director (except the power to appoint an alternate Director). 

Section 5.2. Independent Directors. 

(a) Directors shall be “independent” if they satisfy the criteria set forth in Section 6 to 8 of the Banking (Corporate
Governance) Regulations 2005 (as the same may be amended from time to time), Provision 2.1 of the CCG, paragraph 2 of the Practice Guidance to the CCG (as the same may be amended from time to time) and such other applicable Laws. Grab and Singtel
may nominate, and the Board shall appoint, such “independent” Directors in accordance with the following procedure (any Director so appointed shall be referred to as an “Independent Director”): 

(b) Subject to Section 5.5, for such time as the Grab Threshold is met, Grab shall be entitled, and for such time as the Singtel Threshold
is met, Singtel (each of them in such capacity, the “Nominating Shareholder”) shall be entitled, to nominate one or more individuals as Independent Director(s) who meet the requirements for independence set forth in the first
sentence of Section 5.2 (the “Relevant Nominee(s)”). 

  
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 (c) The Relevant Nominee(s) must thereafter be: 

(i) pre-approved by Grab or Singtel (as the case may be, whichever is not the Nominating Shareholder
in respect of such Relevant Nominee(s)); 
 (ii) then reviewed by the Nomination Committee of the Board; and 

(iii) then approved by the Board, which approval shall be by way of a board resolution (with a simple majority vote in favour);
provided, that, in the event that a Nominating Shareholder has nominated more than one Relevant Nominee, the Board shall approve the appointment of only one of the Relevant Nominees nominated by such Nominating Shareholder, as selected by the
Board. 
 (d) In the event that the Nomination Committee reviews the Relevant Nominee(s) and proposes an alternative candidate to act as
Independent Director in his/their place, the respective Nominating Shareholder may veto such Person and may nominate one or more alternative candidate(s) in his/their place. In such case, the appointment process set forth in Sections 5.2(b) and
(c) shall apply mutatis mutandis. 
 (e) Each Independent Director needs to be
re-nominated and re-approved every three (3) years in accordance with the procedures set forth in Sections 5.2(b) through (d). If Grab or Singtel is no longer a
Nominating Shareholder, any Independent Director nominated by Grab or Singtel, respectively, shall remain in office until the next re-nomination and re-approval process
takes place. The nomination right in respect of such Independent Directors shall be exercised by all Directors (other than those Independent Director(s) nominated by Grab or Singtel, respectively). 

(f) Each Nominating Shareholder may remove any Independent Director(s) who were such Nominating Shareholder’s Relevant Nominee at any time
with or without cause in such Nominating Shareholder’s sole discretion, subject to applicable Laws. In the event the Independent Director(s) is or are removed without cause or reasonable cause and such Independent Director(s) seek claim against
the Company for compensation for loss of office, redundancy or unfair dismissal or otherwise, howsoever arising, such Nominating Shareholder shall indemnify the Company for any such claims by the Independent Director(s). 

Section 5.3. Singtel Director Appointment Rights. 

(a) For such time as: 
 (i) the
Singtel Threshold is met; and 
 (ii) Singtel is not a Non-Contributing Shareholder (subclauses
(i) and (ii), collectively, the “Singtel Director Appointment Conditions”), 
 Singtel shall have the right to appoint the
Singtel Director, and may remove the Singtel Director from the Board with or without cause in Singtel’s sole discretion. If the Singtel Director ceases to serve as a Director during his or her term of office and the Singtel Director Appointment
Conditions are met, the resulting vacancy on the Board shall be filled by Singtel. 

  
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 (b) From such time as the Singtel Director Appointment Conditions are no longer met: 

(i) Singtel shall, upon request by Grab, be required to take such action as is necessary to promptly remove the Singtel Director from the
Board, whereupon the size of the Board shall automatically be reduced accordingly. Singtel shall (x) obtain an acknowledgment signed by the Singtel Director to the effect that he or she has no claim against the Company for compensation for loss
of office, redundancy or unfair dismissal or otherwise, howsoever arising or (y) indemnify the Company for any such claims by the Singtel Director; and 

(ii) this Agreement shall be automatically deemed amended to remove all references to the Singtel Director. 

Thereafter, if the Singtel Director Appointment Conditions are subsequently met, Singtel’s right to appoint the Singtel Director pursuant to this
Section 5.3 shall be automatically restored, whereupon the size of the Board shall be automatically increased accordingly and this Agreement shall be automatically deemed amended to restore all references to the Singtel Director. 

(c) Notwithstanding any provision to the contrary in this Agreement, if and for so long as Singtel meets the Singtel Enhanced Threshold and
Singtel is not a Non-Contributing Shareholder, Singtel shall obtain Grab’s rights under Sections 5.1(a)(ii), 5.4 and 5.7 applied mutatis mutandis (but, for the avoidance of doubt, not
under Section 5.13). 
 Section 5.4. Grab Director Appointment Rights. 

(a) For such time as: 
 (i) the
Grab Enhanced Threshold is met, Grab shall have the right to appoint two (2) Grab Directors and may remove any Grab Director from the Board with or without cause in Grab’s sole discretion; or 

(ii) the Grab Enhanced Threshold is not met but the Grab Threshold is met, Grab shall have the right to appoint one (1) Grab Director and
may remove such Grab Director from the Board with or without cause in Grab’s sole discretion, 
 provided, that, in either case, at such time,
Grab is not a Non-Contributing Shareholder (the foregoing and subclauses (i) and (ii), collectively, the “Grab Director Appointment Conditions”, except for purposes of
Section 5.13 and Section 5.14 in respect of which the foregoing and subclause (ii) shall constitute the “Grab Director Appointment Conditions”). If any Grab Director ceases to serve as a Director during his or her
term of office and the applicable Grab Director Appointment Conditions are met, the resulting vacancy on the Board shall be filled by Grab. 

(b) From such time as the applicable Grab Director Appointment Conditions are no longer met: 

(i) Grab shall, upon request by Singtel, be required to take such action as is necessary to promptly remove the Grab Director(s) from the
Board, whereupon the size of the Board shall automatically be reduced accordingly. Grab shall (x) obtain an acknowledgment signed by the applicable Grab Director(s) to the effect that he, she or they has or have no claim against the Company for
compensation for loss of office, redundancy or unfair dismissal or otherwise, howsoever arising or (y) indemnify the Company for any such claims by the Grab Director(s); and 

  
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 (ii) this Agreement shall be automatically deemed amended to remove all references to the
Grab Directors. 
 Thereafter, if the applicable Grab Director Appointment Conditions are subsequently met, Grab’s right to appoint the Grab Directors
pursuant to this Section 5.4 shall be automatically restored, whereupon the size of the Board shall be automatically increased accordingly and this Agreement shall be automatically deemed amended to restore all references to the Grab Directors.

 Section 5.5. MAS/Regulatory Compliance Principle. Notwithstanding any provision of this Agreement to the contrary, the
Parties agree that (a) the members of the Board shall at all times satisfy the requirements that may be provided for in the Singapore Code of Corporate Governance, as the same may be amended from time to time (the “CCG”) and
the Banking (Corporate Governance) Regulations 2005, as the same may be amended from time to time and applicable Laws in respect of directors and (b) any appointments of Directors and alternate Directors under this Article V shall be subject to
Section 10.6. 
 Section 5.6. Board Meetings. The quorum for any meetings of the Board shall be the majority of the
Directors (including at least one Grab Director (or his/her alternate Director, if any) and the Singtel Director (or his/her alternate Director, if any). The Directors may participate in any meeting of the Board by means of a telephone
conference, video conference or similar communications equipment by means of which all persons participating in the meeting can hear one another, without a Director being in the physical presence of another Director or Directors, and participation
in a meeting pursuant to this Section 5.6 shall constitute presence in person at such meeting, provided, that all decisions arrived at any such meeting (i) are made when a quorum is present at the time when the meeting proceeds and
remains present when the decisions are made, and (ii) shall subsequently be reflected in minutes of the meeting signed by the chairman of the meeting. In the event that any meeting of the Board is frustrated by the absence of any Director
(other than due to a serious or contagious medical condition as evidenced by a doctor’s certificate or due to observance of a religious holiday) or his/her alternate Director, if any (“Absent Director”), such meeting may be
reconvened to the same time and day the following week (or the next Business Day if such day is not a Business Day) and at the same place by the other Director(s) who were present by giving at least three (3) calendar days’ notice to that
effect to all Directors. The quorum for any reconvened meeting (including a Further Reconvened Meeting) shall be any three Directors. In the event that such reconvened meeting is again frustrated by the absence of such Absent Director (other than
due to a serious or contagious medical condition as evidenced by a doctor’s certificate or due to observance of a religious holiday) or his/her alternate Director, if any (“Repeatedly Absent Director”), such meeting may be
further reconvened to the same time and day the following week (or the next Business Day if such day is not a Business Day) and at the same place by the other Director(s) who were present by giving at least three (3) calendar days’ notice
to that effect to all Directors (such further reconvened meeting, the “Further Reconvened Meeting”). Notwithstanding anything to the contrary in this Agreement or the Constitution, the quorum at such Further Reconvened Meeting shall
not require the presence of the Repeatedly Absent Director (or his/her alternate Director, if any). 

  
 45 

 Section 5.7. Chairman. The Chairman of the Board shall be appointed by the Board
and shall be an Independent Director nominated by Grab, for so long as the Grab Enhanced Threshold is met and Grab is not a Non-Contributing Shareholder. The Chairman of the Board, and in his absence, the
chairman of a Board meeting, shall not have a casting vote in the event of an equality of votes. 
 Section 5.8. Voting. 

(a) At each meeting of the Board, each Director shall have the right to one vote. Except for the Board Reserved Matters which are governed by
Section 5.9, a Board resolution shall be adopted if it is passed by a simple majority vote in favor of the resolution by the Directors present at the meeting. For the avoidance of doubt, any Directors who abstained from voting shall not be
counted. 
 (b) Notwithstanding anything to the contrary in this Agreement or the Constitution, if a meeting of the Board duly called to
resolve on a certain matter is reconvened due to the absence of a Repeatedly Absent Director and such Repeatedly Absent Director(s) is/are absent at the Further Reconvened Meeting (other than due to a serious or contagious medical condition as
evidenced by a doctor’s certificate or due to observance of a religious holiday), such Repeatedly Absent Director(s) shall be deemed to have voted against the proposal or resolution. 

Section 5.9. Board Reserved Matters. 

(a) Notwithstanding anything to the contrary contained in this Agreement or the Constitution, (x) the Company shall ensure that and
(y) each Shareholder agrees that no resolution of the Board (or any committee of the Board) or Shareholders shall be passed, and no action taken shall have any effect, in relation to any of the matters set out in Exhibit D hereto (the
“Board Reserved Matters”) without the prior approval by way of a Board resolution passed in accordance with Section 5.8 or 5.10 (and which shall include the affirmative vote of the Singtel Director for such time as Singtel is
not a Non-Contributing Shareholder and the Singtel Threshold is met, and at least one Grab Director for such time as Grab is not a Non-Contributing Shareholder and the
Grab Threshold is met), provided that: 
 (i) with respect to Board Reserved Matters in relation to the Company, the obligations of
the Shareholders shall be limited to using their commercially reasonable efforts (including the exercise of their voting rights in the Company) so as to give effect to the foregoing; and 

(ii) with respect to Board Reserved Matters in relation to any of the Key Subsidiaries (whether or not wholly-owned), the obligations of the
Shareholders shall be limited to using their commercially reasonable efforts (including the exercise of their voting rights in the Company, to the extent applicable) so as to give effect to the foregoing. 

  
 46 

 (b) For purposes of Section 5.9(a)(ii), the use of commercially reasonable efforts
shall include ensuring that the Key Subsidiaries (whether or not wholly-owned) design, implement and maintain internal control and other procedures consistent with the Safe Harbour Rules (but, for the avoidance of doubt, exclude ensuring that the
Safe Harbour Rules shall be complied with, save as otherwise expressly provided in the Safe Harbour Rules). 
 (c) Notwithstanding any
provision in this Agreement or the Constitution to the contrary, any collaborations between any member of the DB Group, on the one hand, and MUFG, MUFG Banking Group or any of their respective Affiliates, on the other hand, (i) that is outside
the ordinary course of business of such member of the DB Group or (ii) that grants MUFG, MUFG Banking Group or any of their respective Affiliates, any exclusivity rights, shall require prior approval by way of a Board resolution passed in
accordance with Section 5.8 or 5.10. 
 Section 5.10. Resolutions in Writing. A resolution in writing and copies thereof
circulated to all the Directors and signed or approved unanimously by all the Directors by letter, facsimile, DocuSign, email or other similar form of electronic or digital delivery shall be as valid and effective as if it had been passed at a
meeting of the Board duly convened. 
 Section 5.11. Directors’ Expenses. Expenses incurred by the Directors
in connection with their attendance at Board meetings and in connection with the carrying out of their duties and obligations as Directors shall be reimbursed if and to the extent permitted under the Company’s policies in effect from time to
time as may be prescribed by the Board. 
 Section 5.12. Related Party Transactions. 

(a) All Related Party Transactions shall be on arm’s length market terms and comply with any requirements imposed by MAS in the IPA, DB
License or other Material Licenses and applicable Laws. In relation to any Related Party Transaction, and notwithstanding any provision in this Agreement or the Constitution to the contrary, the Related Party in question and any Director appointed
by the Related Party (other than an Independent Director) or Affiliate of the Related Party: 
 (i) will not be required to be present to
form a quorum at any general meeting or Board meeting (as the case may be) convened to approve the Related Party Transaction, but, for the avoidance of doubt, must be provided notice of such meeting; 

(ii) must recuse itself, himself or herself (as the case may be) from participating in any discussions, and abstain from voting on all
resolutions or decisions (whether at the Board or Shareholder level), relating to the Related Party Transaction; and 
 (iii) where the
Related Party Transaction is a Relevant Related Party Transaction, will not exercise any veto rights which has the effect of prohibiting or restricting (x) the Relevant Related Party Transaction or (y) the exercise of any DB Group
Company’s rights thereunder or in respect thereof. 
 (b) Without prejudice to the generality of the foregoing: 

(i) in relation to any Grab Related Party Transaction, for such time as the Singtel Threshold is met, the Singtel Director shall have the
right to review, on an annual basis for the period from January 1 to December 31 of each calendar year, any Grab Related Party Transaction, alone or in a series of related transactions that has a value in excess of S$100,000, in order to
ascertain whether it complies with the first sentence of Section 5.12(a); provided, that the initial review period shall be the period from the date of the Previous Shareholders’ Agreement to 31 December 2021; 

  
 47 

 (ii) in relation to any Singtel Related Party Transaction, for such time as the Grab
Threshold is met, any Grab Director shall have the right to review, on an annual basis for the period from January 1 to December 31 of each calendar year, any Singtel Related Party Transaction, alone or in a series of related transactions
that has a value in excess of S$100,000, in order to ascertain whether it complies with the first sentence of Section 5.12(a); provided, that the initial review period shall be the period from the date of the Previous Shareholders’
Agreement to 31 December 2021; and 
 (c) The Company shall make available to the Singtel Director or Grab Director, as applicable, the
executed documentation entered into with respect to the applicable Related Party Transaction, along with relevant market analysis to show that such transactions are on arm’s length market terms and comply with any requirements imposed by MAS in
the IPA, the DB License, other Material Licenses and applicable Laws, and the Company shall make the relevant members of its management team available for discussion on a reasonable basis if requested by the Singtel Director or the Grab Director, as
applicable. 
 (d) In conducting such review, to the extent that the Singtel Director or the Grab Director, as applicable, in good faith
believes that any such Related Party Transaction is not on arm’s length market terms or do not comply with any requirements imposed by MAS in the IPA, the DB License, other Material Licenses and/or applicable Laws, it shall have the right to
submit such Related Party Transaction to an independent “Big Four” accounting firm jointly agreed by Grab and Singtel or, if there is no agreement on the Big Four Firm to be appointed, as selected by a simple majority vote of the
Independent Directors (the “Big Four Firm”) for review and resolution. A Big Four Firm shall be deemed independent if it has not audited the consolidated financial statements of any of Grab Parent or Singtel Parent in respect of any
of their last three (3) fiscal years. The Big Four Firm shall be instructed to limit its review to any specific term or terms that the Singtel Director or the Grab Director, as applicable, considers not to be an arm’s length market term or
not compliant with any requirements imposed by MAS in the IPA, the DB License, other Material Licenses and/or applicable Laws, and not to investigate any other term independently.

(e) The Company shall make available to the Big Four Firm the executed documentation entered into with respect to the applicable Related Party
Transaction, along with relevant market analysis to demonstrate that such transaction is on arm’s length market terms and complies with any requirements imposed by MAS in the IPA, the DB License, other Material Licenses and/or applicable Laws,
and the Company shall make the relevant members of its management team available for discussion on a reasonable basis if requested by the Big Four Firm. Singtel and Grab shall direct the Company to request that the Big Four Firm render a decision
within thirty (30) calendar days following the submission of such documentation and market analysis to the Big Four Firm. 

  
 48 

 (f) If the Big Four Firm finds that any specific term or terms of such Related Party
Transaction is/are not within a five percent (5%) range of what would, in the view of the Big Four Firm, constitute arm’s length market terms or not compliant with any requirements imposed by MAS in the IPA, the DB License, other Material
Licenses and/or applicable Laws, such Related Party Transaction shall retroactively be reformed to reflect arm’s length market terms (as determined by the Big Four Firm) or requirements imposed by MAS in the IPA, the DB License, other Material
Licenses and/or applicable Laws, respectively, in that respect throughout the term of the Related Party Transaction, and the relevant parties to the Related Party Transaction in question shall promptly execute all necessary amendment agreement(s),
effective retroactively, to reflect such arm’s length market terms or requirements (as the case may be). 
 (g) Singtel and Grab agree
the Big Four Firm shall act as an expert and not an arbitrator, and that the determination by the Big Four Firm of any Related Party Transaction term as being an arm’s length market term or compliant with any requirements imposed by MAS in the
IPA, the DB License, other Material Licenses and/or applicable Laws or not shall (in the absence of manifest error) be final and binding and conclusive on all Shareholders, not appealable and not subject to further review. They further agree that
the procedure set forth in this Section 5.12 for determining whether any Related Party Transaction term is an arm’s length market term or compliant with any requirements imposed by MAS in the IPA, the DB License, other Material Licenses
and/or applicable Laws or not shall be the sole and exclusive method for such determination. 
 (h) Save as otherwise expressly provided in
Section 5.12(i) or (j) below, Singtel and Grab shall each bear its own costs and expenses incurred to produce its determination. 

(i) The fees and expenses of the Big Four Firm in connection with its review of any Grab Related Party Transaction shall be borne in the
entirety by Singtel if the terms of the applicable Grab Related Party Transaction are not required to be reformed, and by Grab if the terms of the applicable Grab Related Party Transaction are required to be reformed pursuant to
Section 5.12(f). 
 (j) The fees and expenses of the Big Four Firm in connection with its review of any Singtel Related Party
Transaction shall be borne in the entirety by Grab if the terms of the applicable Singtel Related Party Transaction are not required to be reformed, and by Singtel if the terms of the applicable Singtel Related Party Transaction are required to be
reformed pursuant to Section 5.12(f). 
 Section 5.13. Committees. 

(a) The Board shall create at least four (4) committees (the “Committees”), being the Audit Committee, the Risk
Committee, the Nomination Committee, and the Remuneration Committee. No Committee shall have the authority to approve any Board Reserved Matter, but the Committees shall have the right to make recommendations to the full Board with respect to the
Board’s decision as to any Board Reserved Matter within the scope of expertise of the applicable Committee. The Committees shall keep minutes of their proceedings and provide the same regularly and timely to the Board. The Board may adopt, by
way of a simple majority vote, a charter or other rules on the inner workings of the Committees. In the absence of any such charter or rules, Sections 5.6 and 5.8 through 5.10 shall apply to the applicable Committee mutatis mutandis.

  
 49 

 (b) During the First Five Years, each Committee shall consist of three (3) members who
are Directors, as set out below and as summarized in the table in this Section 5.13(b): 
 (i) for such time as the Grab Director
Appointment Conditions or the Singtel Director Appointment Conditions, respectively, are met, each of Grab and Singtel shall have the right to appoint and remove one (1) Grab Director or the Singtel Director, as applicable, to each
Committee in accordance with Sections 5.13(b)(ii)(I) or 5.13(b)(iii)(I), respectively, provided, that the members appointed to: 
  

	 	(I)	 the Audit Committee members shall be independent of management and business relations of the DB Group and shall
comprise a majority of Independent Directors; 

  

	 	(II)	 the Risk Committee shall comprise a majority of non-executive
Directors; and 

  

	 	(III)	 the Nomination Committee shall comprise one-third of Independent
Directors during the First Five Years, and a majority of Independent Directors following the First Five Years; 

 (ii) for
such time as the Grab Director Appointment Conditions are met, Grab shall have the right to appoint and remove: 
  

	 	(I)	 one (1) Grab Director for each Committee; and 

 

	 	(II)	 as an additional appointee, the Grab-nominated Independent Director as the chairman of the Audit Committee and
of the Nomination Committee; and 

 (iii) for such time as the Singtel Director Appointment Conditions are met, Singtel
shall have the right to appoint and remove: 
  

	 	(I)	 the Singtel Director to each Committee other than the Audit Committee; and 

 

	 	(II)	 as an additional appointee, the Singtel-nominated Independent Director to the Audit Committee, the Risk
Committee and the Remuneration Committee. The Singtel-nominated Independent Director shall be the chairman of the Risk Committee and of the Remuneration Committee. 

(iv) Notwithstanding the foregoing, the majority of the members of the Remuneration Committee and the Nomination Committee shall be Singapore
citizens or Singapore permanent residents. 

  
 50 

					
	 Committee
	  	 Members
	  	 Chairman

	Audit Committee	  	 1.  One (1) Grab Director

 
 2.  Grab-nominated Independent
Director
  
 3.  Singtel-nominated
Independent Director
	  	Grab-nominated Independent Director
			
	Risk Committee	  	 1.  One (1) Grab Director

 
 2.  Singtel Director

 
 3.  Singtel-nominated Independent
Director
	  	Singtel-nominated Independent Director
			
	Nomination Committee	  	 1.  One (1) Grab Director

 
 2.  Grab-nominated Independent
Director
  
 3.  Singtel
Director
	  	Grab-nominated Independent Director
			
	Remuneration Committee	  	 1.  One (1) Grab Director

 
 2.  Singtel Director

 
 3.  Singtel-nominated Independent
Director
	  	Singtel-nominated Independent Director

 (c) Following the First Five Years, each Committee shall consist of five (5) members who are Directors, as
set out below and as summarized in the table in this Section 5.13(c): 
 (i) for such time as the Grab Director Appointment Conditions
or the Singtel Director Appointment Conditions, respectively, are met, each of Grab and Singtel shall have the right to appoint and remove one (1) member to each Committee, provided, that the members appointed to: 

 

	 	(I)	 the Audit Committee members shall be independent of management and business relations of the DB Group and shall
comprise a majority of Independent Directors; and 

  

	 	(II)	 the Risk Committee shall comprise only non-executive Directors.

 (ii) for such time as the Grab Director Appointment Conditions are met, Grab shall have the right to appoint and
remove: 
  

	 	(I)	 a Grab Director to each Committee (including the Audit Committee); 

  
 51 

	 	(II)	 two (2) Grab-nominated Independent Directors to the Audit Committee and to the Nomination Committee, one
of whom shall be the chairman of the said Committees; and 

  

	 	(III)	 one (1) Grab-nominated Independent Director to the Risk Committee and Remuneration Committee.

 (iii) for such time as the Singtel Director Appointment Conditions are met, Singtel shall have the right to appoint and
remove: 
  

	 	(I)	 the Singtel Director to each Committee (including the Audit Committee); 

 

	 	(II)	 two (2) Singtel-nominated Independent Directors to the Risk Committee and to the Remuneration Committee,
one of whom shall be the chairman of the said Committees; and 

  

	 	(III)	 one (1) Singtel-nominated Independent Director to the Audit Committee and to the Nomination Committee.

 (iv) Notwithstanding the foregoing, the majority of the members of the Remuneration Committee and the Nomination
Committee shall be Singapore citizens or Singapore permanent residents. 
  

					
	 Committee
	  	 Members
	  	 Chairman

	Audit Committee	  	 1.  One (1) Grab Director

 
 2.  First Grab-nominated Independent
Director
  
 3.  Second
Grab-nominated Independent Director
  

4.  Singtel Director
  

5.  One (1) Singtel-nominated Independent Director
	  	Grab-nominated Independent Director
			
	Risk Committee	  	 1.  One (1) Grab Director

 
 2.  One (1) Grab-nominated
Independent Director
  
 3.  Singtel
Director
  
 4.  First
Singtel-nominated Independent Director
  

5.  Second Singtel-nominated Independent Director
	  	Singtel-nominated Independent Director

  
 52 

					
	 Committee
	  	 Members
	  	 Chairman

	Nomination Committee	  	 1.  One (1) Grab Director

 
 2.  First Grab-nominated Independent
Director
  
 3.  Second
Grab-nominated Independent Director
  

4.  Singtel Director
  

5.  One (1) Singtel-nominated Independent Director
	  	Grab-nominated Independent Director
			
	Remuneration Committee	  	 1.  One (1) Grab Director

 
 2.  One (1) Grab-nominated
Independent Director
  
 3.  Singtel
Director
  
 4.  First
Singtel-nominated Independent Director
  

5.  Second Singtel-nominated Independent Director
	  	Singtel-nominated Independent Director

 (d) Each individual so appointed to a Committee shall serve on such Committee until the earliest of his or her
death, resignation or removal. The resulting vacancy on such Committee shall be filled in accordance with this Section 5.13 by the Shareholder having appointed the deceased, resigned or removed member. 

Section 5.14. Board Observers. 

(a) The Company may from time to time invite a representative of a Shareholder or other person approved by the Board to attend meetings of the
Board or of any Committee in the capacity of observer; provided, however, that the Company reserves the right to exclude the observer representative from access to any information or meeting or portion thereof if the Company believes
that such exclusion is reasonably necessary to (i) preserve the attorney-client privilege or (ii) protect the trade secrets or highly proprietary or competitively sensitive information pertaining to the Business. 

(b) Singtel shall (for such time as the Singtel Director Appointment Conditions are met) be entitled to send a representative to attend all
meetings of the Board or of any Committee (including, for the avoidance of doubt, the Audit Committee and the Nomination Committee) in the capacity of observer and such representative shall be given copies of all notices of Board or Committee
meetings and copies of all papers and reports to be presented at the applicable Board or Committee meeting. Subclause (ii) of Section 5.14(a) shall not apply to such Singtel representative, but subclause (i) of Section 5.14(a)
shall apply to such Singtel representative. 

  
 53 

 (c) Grab shall (for such time as the Grab Director Appointment Conditions are met) be
entitled to send a representative to attend all meetings of the Board or of any Committee (including, for the avoidance of doubt, the Risk Committee and the Remuneration Committee) in the capacity of observer and such representative shall be given
copies of all notices of Board or Committee meetings and copies of all papers and reports to be presented at the applicable Board or Committee meeting, provided, that such representative at all meetings of the Board or of any Committee shall
at all times be AT (or his designee from time to time) for so long as AT is either the Chief Executive or a shareholder of Grab Parent, and otherwise, such representative shall be the then current Chief Executive of Grab Parent (or his designee from
time to time). Subclause (ii) of Section 5.14(a) shall not apply to such Grab representative, but subclause (i) of Section 5.14(a) shall apply to such Grab representative. 

(d) Internal Control and Risk Management Assessments. Singtel shall have the right to appoint an independent, third party auditor to
perform, at Singtel’s sole cost and expense, internal control and risk management assessments on each DB Group Company no more than once per financial year. Any such assessments shall be conducted during normal business hours, in a manner that
will not interfere in any material respect with the operations of the DB Group (taken as a whole) and following reasonable advance notice, which notice shall set out the specific internal control and risk management assessments required to be
conducted in relation to one or more DB Group Companies identified in the notice. Singtel acknowledges and agrees that any information obtained by such third party auditor shall be subject to Section 10.2. 

Section 5.15. Boards of Subsidiaries. 

(a) Unless Grab and Singtel mutually agree otherwise in writing, each Shareholder shall exercise its voting rights to approve or direct that
the Company (and the Company’s management) ensures to the extent permitted by Law, that the composition of the board of directors of the Company’s wholly-owned Subsidiaries will reflect the composition of the Board and that all other
provisions relating to the Board will apply mutatis mutandis to the board of directors of the Company’s wholly-owned Subsidiaries. 

(b) The composition of the board of directors of any subsidiary of the Company that is not wholly-owned or incorporated with the intention of
becoming a joint venture company shall be negotiated between the Company (each, the “Relevant Investee Company”) and the relevant joint venture partner(s) and shall not be required to reflect the composition of the Board,
provided that, to the extent possible, the composition of the Company’s nominees to the board of the Relevant Investee Company shall reflect, as nearly as possible, Grab’s and Singtel’s respective voting rights in respect of
Class A Ordinary Shares at the applicable time and Grab shall use its commercially reasonable endeavours (including the exercise of its voting rights in the Company) to ensure that the Company shall have the right to appoint at least two
members to the board of the Relevant Investee Company. Solely for the purpose of illustration only, assuming Grab’s and Singtel’s voting rights in respect of Class A Ordinary Shares at the applicable time is sixty per cent (60%) and
forty per cent (40%), if the Company has the right to appoint: 
 (i) three (3) of six (6) members to the board of the Relevant
Investee Company, the Company’s nominees to the board of the Relevant Investee Company shall comprise 2 persons nominated by Grab and 1 person nominated by Singtel; and 

  
 54 

 (ii) two (2) members to the board of the Relevant Investee Company, the Company’s
nominees to the board of the Relevant Investee Company shall comprise 1 person nominated by Grab and 1 person nominated by Singtel; and 

(iii) one (1) member to the board of the Relevant Investee Company, the Company’s nominee to the board of the Relevant Investee
Company shall be nominated by Grab. 
 Section 5.16. D&O Policy. The Company shall (a) not later than 6 months after the
Effective Date, obtain a D&O Policy, (b) procure and ensure that the D&O Policy is maintained for the duration of this Agreement, and (c) not cancel or terminate (or cause to be cancelled or terminated) the D&O Policy so
obtained, without the prior written approval of all the Directors at the relevant time. 
 Section 5.17. Fiduciary Duties. Each
Shareholder acknowledges and agrees that each Director: 
 (a) may (but shall not be obliged to) take advice from his or her Nominating
Shareholder and its Affiliates but shall in any event exercise his or her powers, rights and discretions in discharge of his or her (i) fiduciary duties as a Director and (ii) his or her duties in accordance with applicable Laws, License
Conditions or standards of conduct as may be imposed from time to time by the relevant Government Authorities; 
 (b) may report all matters
relating to the Business or the DB Group discussed at any Board or committee meetings to its Nominating Shareholder and its Affiliates; and 

(c) may disclose such information relating to the Business or the DB Group received by him as Director to its Nominating Shareholder and its
Affiliates, 
 provided, in the case of Section 5.17(b) or (c), that such disclosure of information is subject to applicable Laws,
and the Persons to whom disclosure is made are subject to confidentiality obligations and use restrictions at least as comprehensive as those contained in Section 10.2. 

ARTICLE VI 
 MANAGEMENT

 Section 6.1. Appointment of CEO. The CEO and any successor CEO shall be appointed as follows: 

(a) the Single Largest Shareholder at any time shall have the right to nominate candidates for the position of CEO by notifying Singtel or
Grab, as the case may be, of such nomination. Such notice shall include the resume of the CEO candidate; 
 (b) for such time the Singtel
Threshold is met, Singtel shall have the right to interview any CEO candidate, which interview shall be conducted as soon as reasonably practicable after the receipt by Singtel of such written notice from Grab; 

  
 55 

 (c) within ten (10) Business Days of the interview date, Singtel shall notify Grab in
writing of its views on the candidate and if he/she was rejected or approved by Singtel to continue in the selection process. If Singtel does not approve the candidate, it shall provide to Grab its reasons for rejecting the candidate in writing and
he/she shall no longer be considered for the CEO position and the procedure set forth in this Section 6.1 shall apply to any successor candidate. In the event that Singtel rejects CEO candidates nominated by Grab for five (5) consecutive
times, Grab shall have the right to proceed with the nomination of its sixth CEO candidate; 
 (d) if a CEO candidate is approved by Singtel
or is the sixth CEO candidate after Singtel has rejected CEO candidates for five (5) consecutive times, his or her nomination shall be reviewed by the Nomination Committee and, if the Nomination Committee approves of such candidate, it shall
recommend such candidate for approval by the Board; 
 (e) to the extent that a CEO candidate is recommended by the Nomination Committee for
approval by the Board, the Board shall decide whether or not to approve such CEO candidate, and, where relevant, to the maximum extent permitted by applicable Law, each Shareholder shall procure that each
non-Independent Director appointed by such Shareholder votes in favor of such candidate; and 
 (f)
In the event Singtel is the Single Largest Shareholder, and for such time as the Grab Threshold is met, Grab shall have the same rights as Singtel has under Section 6.1(b) to (e), applied mutatis mutandis. 

(g) If neither Grab nor Singtel is the Single Largest Shareholder, the Nomination Committee shall have the right to nominate candidates for the
CEO position, and in respect of such candidates nominated by the Nomination Committee, (i) Grab shall have, for such time as the Grab Threshold is met, the same rights as Singtel has under Section 6.1(b) to (e), applied mutatis
mutandis; and (ii) for the avoidance of doubt, the provisions of Section 6.1(b) to (e) shall continue to apply in respect of Singtel.  

Section 6.2. Appointment of Key Management (Other Than CEO). The CFO, the COO, the CRO and the CCO of the Company (each, a
“Relevant Key Management Position”), and his or her successor in such Relevant Key Management Position, shall be appointed as follows, provided, that Grab and Singtel shall only be entitled to participate in the nomination
process for a Relevant Key Management Position, in the case of Singtel, as long as the Singtel Director Appointment Conditions are met, and in the case of Grab, as long as the Grab Director Appointment Conditions are met: 

(a) each of the CEO, Grab and Singtel may nominate candidates for any Relevant Key Management Position by notifying the respective other
Persons in writing of such nomination for the Relevant Key Management Position. Such notice shall include the resume of the candidate; 
 (b)
the CEO, Grab and Singtel shall have the right to interview any candidate for such Relevant Key Management Position, which interview shall be conducted as soon as reasonably practicable after the receipt by Grab, Singtel or the CEO, as the case may
be, of such written notice; 

  
 56 

 (c) within ten (10) Business Days of the interview date, the CEO, Grab and Singtel
shall notify one another in writing of their respective views on the candidate and if he/she was rejected or approved to continue in the selection process, and in such notice, in the event of a rejection, Grab, Singtel or the CEO, as the case may
be, shall state the reasons for rejecting the candidate in writing to the CEO and the other Shareholder; 
 (i) if the candidate is not
approved by any of such Persons, he/she shall no longer be considered for the Relevant Key Management Position and the procedure set forth in this Section 6.2 shall apply to any successor candidate. In respect of any Relevant Key Management
Position at any one time, in the event that candidates for any such successor role in such Relevant Key Management Position have been rejected for five (5) consecutive times by the CEO, Grab or Singtel (each such rejected candidate, a
“Rejected Key Management Candidate”), the Nomination Committee shall nominate a candidate for such Relevant Key Management Position that is suitable in the opinion of the Nomination Committee and is not a Rejected Key Management
Candidate, and the Nomination Committee shall recommend such candidate for approval by the Board. For the avoidance of doubt, the Parties acknowledge and agree that Section 6.2 is an evergreen provision and applies to each and every Relevant
Key Management Position at any one time. For example, if candidates for the position of the role of COO at any one time has been rejected for five (5) consecutive times by the CEO, Grab or Singtel, the Nomination Committee shall nominate a
candidate (not being a Rejected Key Management Candidate) for that position only and not, for the avoidance of doubt, any other Key Management Positions. After the appointment of such candidate for the position of the role of COO (following the
recommendation of the Nomination Committee and the approval of the Board), any subsequent vacancies for the role of COO will be subject to the provisions of Sections 6.2(a) to (c) afresh, and in any such subsequent vacancies for the role
of the COO, any previously Rejected Key Management Candidates considered to fill the previous vacancies for the role of COO may (if thought fit) be reconsidered; and 

(ii) if a candidate for a Relevant Key Management Position is approved by the CEO, Grab and Singtel, his/her nomination shall be reviewed by
the Nomination Committee and, if the Nomination Committee approves of such candidate, it shall recommend such candidate for approval by the Board; and 

(d) to the extent that a candidate for the Relevant Key Management Position is recommended by the Nomination Committee for approval by the
Board, the Board shall decide whether or not to approve such candidate, and, where relevant, to the maximum extent permitted by applicable Law, each Shareholder should procure that each non-Independent
Director appointed by such Shareholder votes in favor of such candidate. 
 Section 6.3. MAS/Regulatory Compliance Principle.
Any appointments of management positions under this Article VI shall be subject to Section 10.6. 

  
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 ARTICLE VII 

SHAREHOLDERS’ MEETINGS 

Section 7.1. Quorum. The quorum at any Shareholders’ meeting shall be any two (2) Shareholders present in person or
represented by proxy, including Grab (for such time as Grab is not a Non-Contributing Shareholder and the Grab Threshold is met) and Singtel (for such time as Singtel is not a
Non-Contributing Shareholder and the Singtel Threshold is met), provided, that all decisions arrived at any such meeting are made when a quorum is present at the time when the meeting proceeds and
remains present when the decisions are made. If a quorum is not present within thirty (30) minutes from the time appointed for the Shareholders’ meeting, the meeting shall be adjourned to the same calendar day of the following week (or the
next Business Day if such calendar day is not a Business Day) at the same time and place, and at least three (3) calendar days’ notice shall be given to the Shareholders in relation to such adjourned meeting. If at such adjourned meeting a
quorum is not present within thirty (30) minutes from the time appointed for such adjourned meeting, the said meeting shall be further adjourned to the same calendar day of the week next following (or the next Business Day if such calendar day
is not a Business Day) at the same time and place (the “Second Adjourned Shareholders’ Meeting”). At the Second Adjourned Shareholders’ Meeting, any two (2) Shareholders present in person or represented
by proxy shall form a quorum. At least three (3) calendar days’ notice of each adjourned meeting shall be given to all Shareholders. 

Section 7.2. Voting Rights. On any matter presented to the Shareholders for their approval at any meeting of the Shareholders, and
at every adjournment or postponement thereof (or by written consent in lieu of meeting), each Shareholder holding Class A Ordinary Shares shall be entitled to cast one vote per whole Class A Ordinary Share held by such Shareholder as of
the record date for determining Shareholders entitled to vote on such matter. Class B Ordinary Shares do not have voting rights, save as required by applicable Law. Except with respect to Shareholders’ Reserved Matters or where otherwise
required by the Companies Act, any such matter shall be approved by ordinary resolution with a simple majority of the votes cast by the Shareholders present in person or represented by proxy (it being understood and agreed that resolutions in
writing shall be subject to Section 7.5). 
 Section 7.3. Agreement to Vote. 

(a) Until the termination of this Agreement in accordance with Section 14.1, each Shareholder agrees to vote all of his, her or its
Class A Ordinary Shares, and each Party agrees to take all necessary measures (including by convening a general meeting of the Shareholders), in order to carry out the agreements of the Parties set forth in this Agreement, including
(i) appointing and removing Directors appointed or nominated, as applicable, in accordance with Sections 5.1 through 5.5 and (ii) amending the Constitution and other constituent documents of the Company to reflect the terms and
conditions of this Agreement (including for the avoidance of doubt, Sections 4.2(x) and (y)), as such terms and conditions may be in effect from time to time, and otherwise to be consistent with the terms of this Agreement, and to prevent any action
by the Shareholders that would be permitted by the Constitution or other constituent documents of the Company but that is inconsistent with this Agreement. 

(b) Subject to compliance with Sections 5.5 and 10.6, the Shareholders agree that the resolution for the appointment of the Singtel Director
and the Grab Directors shall be deemed to have been passed at a Shareholders’ meeting if they have been (i) nominated by the applicable Nominating Shareholder in accordance with Section 5.3 or 5.4, respectively, (ii) reviewed by
the Nomination Committee in compliance with applicable Laws and the CCG and the Banking (Corporate Governance) Regulations 2005 (as may be amended from time to time), (iii) the Board of Directors has concurred with the decision of the Nomination
Committee and (iv) the applicable Nominating Shareholder votes in favour of such appointment. 

  
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 Section 7.4. Shareholders’ Reserved Matters. 

(a) Notwithstanding anything to the contrary contained in this Agreement or the Constitution, (x) the Company shall ensure that and
(y) each Shareholder agrees that no resolution of the Board or Shareholders shall be passed, and no action taken shall have any effect, in relation to any of the matters set out in Exhibit E hereto (the
“Shareholders’ Reserved Matters”) without the prior approval of each Shareholder (i) whose Shareholder Group’s Shareholding Percentage represents at least twenty per cent (20%) of the then outstanding
Class A Ordinary Shares at the relevant time and (ii) whose Shareholder Group is not a Non-Contributing Shareholder; provided, that: 

(i) with respect to Shareholder Reserved Matters in relation to the Company, the obligations of the Shareholders shall be limited to using
their commercially reasonable efforts, (including the exercise of their voting rights in the Company) so as to give effect to the foregoing; and 

(ii) with respect to Shareholder Reserved Matters in relation to any of the Key Subsidiaries (whether or not wholly-owned), the obligations of
the Shareholders shall be limited to using their commercially reasonable efforts (including the exercise of their voting rights in the Company, to the extent applicable) so as to give effect to the foregoing. 

(b) For purposes of Section 7.4(a)(ii), using commercially reasonable efforts shall include ensuring that the Key Subsidiaries (whether or
not wholly-owned) design, implement and maintain internal control and other procedures consistent with the Safe Harbour Rules (but, for the avoidance of doubt, exclude ensuring that the Safe Harbour Rules shall be complied with, save as otherwise
expressly provided in the Safe Harbour Rules). 
 Section 7.5. Resolutions in Writing. Subject to additional requirements under
the Companies Act and Section 7.4 in relation to Shareholders’ Reserved Matters: 
 (a) a resolution in writing to be passed as a
special resolution shall be signed by Shareholder(s) holding at least seventy five per cent (75%) of the Class A Ordinary Shares entitled to vote; and 

(b) a resolution in writing to be passed as an ordinary resolution shall be signed by Shareholders holding more than fifty per cent (50%) of
the Class A Ordinary Shares entitled to vote. 
 In each case, such resolution in writing shall be valid and effective as if it had been adopted at a
duly convened and held Shareholders’ meeting, provided, that notice of such resolution in writing shall be given to all Shareholders, including notice of whether such resolution in writing has been passed. 

  
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 ARTICLE VIII 

TRANSFER OF SHARES 

Section 8.1. Restrictions on Transfers of Shares. 

(a) The Parties acknowledge and agree that no holder of Class B Ordinary Shares may Transfer, or permit a Transfer of, any Class B
Ordinary Shares, save as otherwise provided in the ESOP and the Constitution. Notwithstanding any provision to the contrary in this Agreement, a holder of Class B Ordinary Shares shall not be a Party to this Agreement or be required to execute
a counterpart of a Deed of Adherence, and shall not therefore be regarded, for the purposes of this Agreement, as a Shareholder. All references to Shares in this Article VIII shall therefore encompass only Class A Ordinary Shares. 

(b) No Shareholder may Transfer, or permit a Transfer of, any Shares, except: 

(i) for a Transfer of all (or any portion) of the Shares held by the Shareholder at the relevant time to a Permitted Transferee in accordance
with Section 8.6 (in which case, notwithstanding anything to the contrary herein, Sections 8.3 and 8.4 shall not apply); 
 (ii)
at any time after the Full-Functioning Status Date (the period from the date of the Previous Shareholders’ Agreement through such date, the “Lock-Up Period”) and then subject to
Sections 8.3 and 8.4 (if applicable); 
 (iii) at any time pursuant to and in accordance with Sections 8.5, 12.3, 12.4 and 12.8
(in which case, notwithstanding anything to the contrary herein, Sections 8.3 and 8.4 shall not apply); 
 (iv) at any time pursuant to
and in accordance with Section 13.2(c) and Exhibit G (in which case, notwithstanding anything to the contrary herein, Sections 8.3 and 8.4 shall not apply); 

(v) any Transfer in connection with and substantially contemporaneously and simultaneously with the consummation of an Approved IPO (in which
case, notwithstanding anything to the contrary herein, Sections 8.3 and 8.4 shall not apply); or 
 (vi) with the prior written consent
of Grab and Singtel. 
 (c) Upon compliance with the requirements of this Article VIII (including Sections 8.7 and 8.8), each Transferee
of Shares shall have all of the rights, and shall be subject to the restrictions and obligations, of his, her or its Transferor hereunder and under the Constitution. If a Transferor has Transferred all his, her or its Shares in the Company in
accordance with this Article VIII, immediately following such Transfer, such Transferor shall cease to be a Shareholder (save as otherwise provided in Section 8.6). 

(d) Where any proposed Transfer is permitted by, or required to be effected under, this Article VIII, but requires or is likely to require any
Mandatory Consents, the Parties agree that: 

  
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 (i) the consummation of such Transfer shall be conditional upon the relevant Mandatory
Consent(s) having been obtained or received; and 
 (ii) any procedure or time period to be followed under this Article VIII to consummate
such Transfer shall be subject to extension to the extent required to obtain and receive all Mandatory Consent(s), provided, that any such extension of time shall: 
  

	 	(I)	 not be more than ninety (90) days (or such later date as may be agreed in writing by all Parties) after
the expiry of the time period initially prescribed under this Agreement, if the Mandatory Consent(s) in question relate to any consent, approval or waiver that is required to be obtained for any reason other than (A) in relation to any Material
License or (B) compliance with applicable Laws pertaining to anti-trust or merger control; and 

  

	 	(II)	 not be more than four (4) months (or such later date as may be agreed in writing by all Parties) after the
expiry of the time period initially prescribed under this Agreement, if the Mandatory Consent(s) in question relate to any consent, approval or waiver that is required to be obtained in relation to any Material License or compliance with applicable
Laws pertaining to anti-trust or merger control. 

 If by the expiry of such extended period, all such Mandatory Consent(s) have not been
obtained or received, such Transfer shall not be consummated. 
 (e) Each Transferor of Shares agrees that, at the consummation of each
Transfer required to be made by such Transferor pursuant to this Agreement under Sections 8.3, 8.4 or 8.5, such Transferor will represent and warrant to the Transferee(s) that the Shares to be so Transferred are free and clear of all
Encumbrances (other than those arising under this Agreement or the Constitution). 
 Section 8.2. No Avoidance. Notwithstanding
anything to the contrary contained in this Agreement, the Shareholders agree that the restrictions on the Transfer of Shares set forth in Section 8.1 shall not be capable of being avoided by the holding of Shares through one or more entities
(in which interests may be transferred free of such restrictions) the only or principal asset of which comprises interests in the Shares. 

Section 8.3. Right of First Refusal. 

(a) At any time after the expiration of the Lock-Up Period or with the prior written consent of Grab
and Singtel pursuant to Section 8.1(b)(vi), any Shareholder may Transfer any Shares, subject to compliance with the provisions of Section 8.1 and this Section 8.3 (it being understood and agreed that any Transfer referred to in
Sections 8.1(b)(i), (iii), (iv) and (v) above shall not be subject to compliance with the provisions of this Section 8.3. 

  
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 (b) Prior to any such Transfer of Shares, the Shareholder desiring to make such Transfer
(the “Offering Shareholder”) shall deliver a written notice (the “ROFR Notice”) to the Company and Singtel and/or Grab (as the case may be) (the “ROFR Shareholder(s)”) specifying in reasonable
detail the number of Shares proposed to be Transferred (the “ROFR Shares”), the proposed purchase price per Share (the “ROFR Price”) (which shall be payable in cash and not, for the avoidance of doubt, Liquid
Shares), the identity of the prospective Transferee (and to the Offering Shareholder’s knowledge, the legal and beneficial owners of the prospective Transferee, including its ultimate holding company) and the other terms and conditions of the
proposed Transfer and enclosing therewith a true, correct and complete copy of a bona fide written offer, letter of intent (whether binding or not) or other similar written document signed by the prospective Transferee (the
“Prospective Transferee”). For the avoidance of doubt, in the event that Grab is the Offering Shareholder, no member of Grab’s Shareholder Group shall be a ROFR Shareholder, and the same shall apply to Singtel mutatis
mutandis. Each ROFR Shareholder may elect to purchase: 
 (i) all of the ROFR Shares; or 

(ii) all (but in any event not less than all) of its pro rata proportion of the ROFR Shares, according to the respective Shareholder
Percentages of the ROFR Shareholders inter se, 
 upon the same terms and conditions as those set forth in the ROFR Notice, by giving written
notice of such election to the Offering Shareholder (the “ROFR Election Notice”) within twenty (20) Business Days after the ROFR Notice has been given to the ROFR Shareholders (the “ROFR Period”) and specifying
therein the number of ROFR Shares such ROFR Shareholder is committing to purchase. 
 (c) If more than one ROFR Shareholder elects to
purchase ROFR Shares in accordance with Section 8.3(b) above (the “Electing Shareholders”) and the sum of the ROFR Shares that all Electing Shareholders are committed to purchase exceeds the aggregate number of ROFR Shares that
were set forth in the ROFR Notice as being available for purchase, each Electing Shareholder shall be required to purchase such number of ROFR Shares (but not a portion thereof) that is equal to the product of: 

(i) the number of all of the ROFR Shares reflected in the ROFR Notice; and 

(ii) a fraction, (x) the numerator of which is the number of outstanding Shares held by such Electing Shareholder and (y) the
denominator of which is the aggregate number of outstanding Shares held by all Electing Shareholders (the “Pro Rata Proportion”), 

provided that, after apportioning the ROFR Shares among all Electing Shareholders in the Pro Rata Proportion, in the event there is any excess ROFR
Share (due to rounding), such excess ROFR Share shall be purchased by the Electing Shareholder with the larger or largest Pro Rata Proportion among all Electing Shareholders. 

  
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 (d) If: 

(i) none of the ROFR Shareholders elects to purchase all of the ROFR Shares; or 

(ii) all of the ROFR Shareholders fail to give a ROFR Election Notice within the ROFR Period for all of the ROFR Shares, 

and otherwise in accordance with Section 8.3(b) above, then, in each case, the Offering Shareholder may Transfer all (but not less than all) the ROFR
Shares to the Prospective Transferee on terms (including the ROFR Price (which may be payable in cash and/or Liquid Shares)) no more favorable to the Prospective Transferee than those specified in the ROFR Notice, during the sixty (60) calendar
day period immediately following the expiration of the ROFR Period, subject to extension in accordance with Section 8.1(d)(ii). For the avoidance of doubt, the Offering Shareholder may not Transfer any ROFR Shares to the Prospective Transferee
if completion under Section 8.3(e) does not occur as a result of a breach by the Offering Shareholder of its obligations thereunder. 
 If the ROFR
Shares are not so Transferred within the said sixty (60) calendar day period, they will thereafter be subject to the provisions of this Section 8.3 upon subsequent Transfer. In the event the ROFR Price payable by the Prospective Transferee
is in Liquid Shares (“ROFR Liquid Share Price”), in determining whether the ROFR Liquid Share Price payable by the Prospective Transferee is no more favourable to the Prospective Transferee than the ROFR Price payable in cash as
reflected in the ROFR Notice (the “ROFR Cash Price”), reference shall be made to the volume weighted average price of each Liquid Share calculated for the five (5) trading days immediately preceding the date of the announcement
of sale and purchase agreement between the ROFR Shareholder and the Prospective Transferee. In this connection, if the ROFR Liquid Share Price is in a currency other than the currency of the ROFR Cash Price, the exchange rate to be used to convert
the ROFR Liquid Share Price into the currency of the ROFR Cash Price shall be the daily rates of such currencies published on https://secure.mas.gov.sg/msb/ExchangeRates.aspx on the trading day immediately preceding the date of the sale and purchase
agreement between the ROFR Shareholder and the Prospective Transferee. 
 (e) If the Electing Shareholder(s) exercise their option to
purchase in aggregate all the ROFR Shares in accordance with Section 8.3(b) and/or (c), then the purchase and sale of such ROFR Shares pursuant to this Section 8.3 shall occur free and clear of all Encumbrances (other than those arising
under this Agreement or the Constitution), together with all rights, benefits and privileges attaching to the ROFR Shares so transferred (the record date of which falls after the date of such transfer), as soon as practicable on such date as may be
mutually agreed between the Electing Shareholder(s) and the Offering Shareholder, or failing agreement, on the first Business Day falling immediately after sixty (60) calendar days following the end of the ROFR Period, subject to extension in
accordance with Section 8.1(d)(ii). 

  
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 Section 8.4. Tag-Along Right. 

(a) If at any time Grab proposes to Transfer (it being understood and agreed that any Transfer referred to in Sections 8.1(b)(i), (iii), (iv)
and (v) above shall not be subject to compliance with the provisions of this Section 8.4) such number of Shares that would result in: 

(i) Grab holding a simple majority or less but at least thirty per cent (30%) of the Class A Ordinary Shares outstanding at the relevant
time (“Tier 1 Tag Trigger Transfer”); or 
 (ii) Grab holding less than thirty per cent (30%) of all the
Class A Ordinary Shares outstanding at the relevant time (“Tier 2 Tag Trigger Transfer”, and together with the Tier 1 Tag Trigger Transfer, each a “Tag Trigger Transfer”), 

Singtel shall be permitted to participate in such Tag Trigger Transfer on terms and conditions (including price, which shall be in cash and/or Liquid Shares)
(the “Tag Trigger Terms”) that are no less favorable to Singtel than those available to Grab (as set forth in the Tag-Along Notice), provided, that where all or part of the purchase
price is payable in Liquid Shares, it is acknowledged that the Tag Trigger Terms shall not be deemed to be less favorable to Singtel if (A) they confer rights which shall apply (x) to holders of Liquid Shares in general should any such
holders meet a certain shareholding percentage or threshold stipulated in the Tag Trigger Terms before such rights arise, but not specific or personal rights given to a particular holder of Liquid Shares or (y) to specific holders of Liquid
Shares (including Grab or any of its Affiliates) for so long as such specific holders meet a certain shareholding percentage or threshold stipulated in the Tag Trigger Terms and (B) such rights are conferred to Singtel for so long as Singtel
meets the applicable shareholding percentage or threshold. For the purposes of illustration only, the Tag Trigger Terms may stipulate that any holder of ten per cent (10%) or more of all Liquid Shares at any time shall be entitled to one board seat
right, but may not stipulate that such board seat right shall be specific only to Grab or its Affiliate irrespective of Grab’s or Singtel’s or their applicable Affiliate’s shareholding percentage or threshold (and not all other
holders of Liquid Shares in general if such holders meet such requisite shareholding percentage or threshold). 
 (b) Prior to any Tag
Trigger Transfer, and having first complied with the provisions of Section 8.3, Grab shall deliver a written notice (the “Tag-Along Notice”) of such Tag Trigger Transfer to the Company
and Singtel, specifying in the Tag-Along Notice: 
 (i) the identity of the prospective Transferee
and the ultimate holding company of the prospective Transferee (and, to Grab’s knowledge, the legal and beneficial owners of the prospective Transferee); 

(ii) the aggregate number of Shares the prospective Transferee has offered to purchase (the “Tag Trigger Transfer Shares”),
and whether the Tag Trigger Transfer is a Tier 1 Tag Trigger Transfer or a Tier 2 Tag Trigger Transfer; 
 (iii) the purchase consideration
per Share and, in the event that the purchase consideration is payable in Liquid Shares, reasonably satisfactory documentary evidence evidencing whether the securities constitute Liquid Shares on the basis of the stock exchange average daily trading
value and market capitalization as at the date of the Tag-Along Notice. For the avoidance of doubt, whether the said shares satisfy the requirements for the purchase consideration to be considered Liquid
Shares shall be determined immediately prior to the consummation of the Tag Trigger Transfer; 

  
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 (iv) the target date on which the sale and purchase of the Tag Trigger Transfer Shares is
to be completed; and 
 (v) any other material terms and conditions on which the prospective Transferee is offering to purchase the Tag
Trigger Transfer Shares and that would become binding on Singtel, if Singtel were to exercise its tag-along right under this Section 8.4. 

(c) In any Tag Trigger Transfer: 

(i) Grab shall use reasonable efforts to obtain the agreement of the prospective Transferee to the participation of all the Tagging Shares in
the applicable Tag Trigger Transfer; 
 (ii) if the prospective Transferee declines to allow the participation of all the Tagging Shares,
the number of Shares to be sold to the prospective Transferee by Grab shall be reduced so that Singtel is entitled to sell the full amount of the Tagging Shares; and 

(iii) to the extent that the prospective Transferee is offering a deferred purchase consideration (such as an
earn-out), Singtel shall have a direct enforceable contractual claim against the prospective Transferee for its portion of such deferred purchase consideration. 

(d) Singtel may elect to participate in the Tag Trigger Transfer by delivering a written notice to Grab and the prospective Transferee (the
“Tag Acceptance Notice”) within twenty (20) Business Days after delivery of the Tag-Along Notice, which notice shall be a final and binding commitment by Singtel to participate in such
Tag Trigger Transfer, on and subject to the terms and conditions of the Tag Trigger Transfer set out in the Tag-Along Notice and Section 8.4(c)(iii), except that in the event where the purchase
consideration is in the form of shares and such shares do not satisfy the requirements for the same to be considered Liquid Shares as determined immediately prior to the consummation of the Tag Trigger Transfer, the purchase consideration shall be
in cash (or such other form as may be agreed in writing by Singtel). 
 (e) If Singtel has elected to participate in the Tag Trigger
Transfer, Singtel shall be entitled to Transfer to the prospective Transferee the following Shares (the “Tagging Shares”): 

(i) in the event of a Tier 1 Tag Trigger Transfer, such number of Shares that is up to the product of: 

 

	 	(I)	 the quotient determined by dividing the number of all Shares owned by Singtel on a fully diluted basis by the
aggregate number of all Shares owned by Grab and Singtel on a fully diluted basis multiplied by: 

  

	 	(II)	 the aggregate number of Tag Trigger Transfer Shares; or 

  
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 (ii) in the event of a Tier 2 Tag Trigger Transfer, all or a portion of the Shares owned by
Singtel, as determined in its sole discretion and specified by it in its Tag Acceptance Notice; 
 (f) The closing of the sale of the Tagging
Shares by Singtel pursuant to this Section 8.4 shall occur substantially simultaneously with the Transfer of the Tag Trigger Transfer Shares by Grab to the prospective Transferee. Where Singtel has properly elected to participate in the Tag
Trigger Transfer and the prospective Transferee fails to purchase the Tagging Shares from Singtel, Grab shall not make the proposed Tag Trigger Transfer until Grab otherwise arranges for the acquisition by any Person of the Tagging Shares from
Singtel on the same basis. Any Transfer made in violation of this Section 8.4 shall be void. Notwithstanding anything to the contrary herein, there shall be no liability on the part of Grab to Singtel if the Transfer of any Tagging Shares
pursuant to this Section 8.4 is not consummated by the prospective Transferee for any reason (other than the breach of this Section 8.4 by Grab). If the sale and purchase of any Tag Trigger Transfer Shares to the prospective Transferee is
not completed for any reason, Grab must comply with the provisions of this Section 8.4 if it intends to subsequently Transfer any Shares. 

(g) From and after such time (and for so long as) Singtel’s Shareholding Percentage represents more than fifty per cent (50%) of the then
outstanding Class A Ordinary Shares at the relevant time, Grab shall have tag-along rights if Singtel proposes to Transfer (it being understood and agreed that any Transfer referred to in Sections
8.1(b)(i), (iii), (iv) and (v) above shall not be subject to compliance with the provisions of this Section 8.4) such number of Shares that would result in: 

(i) Singtel holding a simple majority or less but at least thirty per cent (30%) of the Class A Ordinary Shares outstanding at the
relevant time (also, “Tier 1 Tag Trigger Transfer”); or 
 (ii) Singtel holding less than thirty per cent
(30%) of all the Class A Ordinary Shares outstanding at the relevant time (also, “Tier 2 Tag Trigger Transfer”, and together with the Tier 1 Tag Trigger Transfer, each also a “Tag Trigger
Transfer”). 
 In such case, this Section 8.4 and Section 8.7 shall apply mutatis mutandis to a Tag Trigger Transfer by
Singtel. 
 Section 8.5. Actions to Maintain Singaporeaness. The following provisions shall apply with respect to the
Company’s compliance with the Singaporean License Condition: 
 (a) In the event that: 

(i) Grab determines that a Loss of Singaporeaness has occurred; or 

(ii) there is any event giving rise to or which may give rise to (I) a change of Control of Grab Parent or a change of Control of any
intermediate holding company of the Company that is a Grab Parent Group Company (including GFG) or (II) a Loss of Singaporeaness, 

  
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 Grab shall, in each case, as promptly as practicable give written notice of the Loss of
Singaporeaness or the relevant event(s) (as applicable) to the Company and the other Shareholders (the “Grab Loss of Singaporeaness Notice”), giving reasonable details of the reasons in the Grab Loss of Singaporeaness Notice for the
Loss of Singaporeaness and relevant event(s) in question. 
 (b) In the event that either (x) Grab and Singtel agree that a Loss of
Singaporeaness has occurred pursuant to the Grab Loss of Singaporeaness Notice or (y) any of the events set out in limbs (a), (b), (c) or (d) of the term “Loss of Singaporeaness” occurs: 

(i) if at such time Singtel (v) is anchored in Singapore; (w) is headquartered in Singapore; (x) publicly identifies Singapore
as its home country; (y) has its global head office and principal place of business in Singapore; and (z) has its effective management situated in Singapore, Grab shall as promptly as practicable provide a proxy and power of attorney in
the form attached hereto as Exhibit L (the “Proxy”) to Singtel, with respect to, inter alia, the exercise of voting rights of such number of Shares owned by Grab, as is necessary to restore
compliance with the Singaporean License Condition. For the avoidance of doubt, (I) references to MAS’s determination in this Agreement as to whether a Loss of Singaporeaness has occurred shall be based on, or arise from, the event(s)
notified by Grab in the Grab Loss of Singaporeaness Notice and not take into account the Proxy and (II) notwithstanding any provision in this Agreement (or other Transaction Documents) to the contrary, where any provisions in this Agreement (or
other Transaction Documents) requires Singtel to procure that its Affiliates do or refrain from doing a particular act or thing, neither the Company nor any of its Subsidiaries shall be deemed to be an Affiliate of Singtel in relation to such
provisions, by virtue only of the Proxy; 
 (ii) Grab shall fully indemnify and hold harmless Singtel and its Affiliates from and against
any and all Losses that Singtel and/or any of its Affiliates has sustained, incurred or suffered by reason of, resulting or arising from, the Loss of Singaporeaness during the Loss of Singaporeaness Period, provided that the aggregate
liability of Grab in respect of all claims for such Losses shall not exceed an amount equal to the Indemnified LoS Aggregate Amount; and provided, further, that in the event that Grab is not required to provide a proxy and power of
attorney to Singtel under the preceding Section 8.5(b)(i), the Loss of Singaporeaness Period shall be replaced with a period ending on the date on which the MAS confirms in writing that the remediation steps or other arrangements agreed by MAS,
Grab and Singtel and implemented have restored full compliance with the Singaporean License Condition. For the avoidance of doubt, the indemnification provisions in this Section 8.5(b)(ii) are without prejudice to all other rights and remedies
of Singtel under this Agreement or otherwise; 

  
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 (iii) Grab, together with the Company, shall notify the MAS of the Loss of Singaporeaness,
giving reasonable details of the reasons for the Loss of Singaporeaness, and Grab shall concurrently provide Singtel with a copy of such notification (including all annexures) to the MAS and keep Singtel notified of all other information and
discussions with MAS thereon. In the event that (x) Grab and Singtel agree that a Loss of Singaporeaness has occurred, (y) any of the events set out in limbs (a), (b), (c) or (d) of the term “Loss of Singaporeaness” occurs
or (z) the MAS determines that a Loss of Singaporeaness has occurred (without taking into consideration the Proxy to Singtel pursuant to Section 8.5(b)(i)), Grab, Singtel and the Company shall explore remediation steps or other
arrangements with MAS (in addition to the obligation of Grab to provide the Proxy to Singtel pursuant to Section 8.5(b)(i)) to restore compliance with the Singaporean License Condition, including negotiating with MAS in relation to any
Singaporean shareholding or control requirement set forth in the DB License (including a downward revision thereof). During the Relevant Period, Grab and Singtel shall use commercially reasonable efforts to agree on the remediation steps or other
arrangements with MAS to restore compliance provided, that (I) Singtel shall in no event be obliged to agree to any amendments or revisions to this Agreement, the Constitution or any other Transaction Documents that will adversely affect
Singtel’s rights and obligations hereunder or thereunder, (II) Singtel or its Affiliates shall in no event be obliged to assume control of the Company, and (III) such agreement shall not impose a moratorium or restriction on the
ability of Singtel to sell its Shares. For the avoidance of doubt, in no event shall any such discussion with the MAS exceed the Relevant Period; 

(iv) in the event that (x) within the Relevant Period, the MAS, Grab and Singtel agree on remediation steps and other arrangements to
restore the said compliance (in addition to the obligation of Grab to provide the Proxy to Singtel pursuant to Section 8.5(b)(i)), but Grab does not, within six (6) months (or such shorter period as may be required by the MAS or longer
period as may be agreed in writing between Grab and Singtel) after such agreement, implement such arrangements so as to obtain MAS’ written confirmation that the said compliance has been fully restored by the expiry of such six (6) months
period (or such shorter period as may be required by the MAS or longer period as may be agreed in writing between Grab and Singtel); or (y) within the Relevant Period, the MAS, Grab and Singtel do not agree on remediation steps and other
arrangements (in addition to the obligation of Grab to provide the Proxy to Singtel pursuant to Section 8.5(b)(i)) to restore the said compliance, then: 
  

	 	(I)	 Singtel and/or its Affiliate shall (in addition to and without prejudice to all other rights or remedies
available to it, including under Section 8.5(b)(ii) and/or Section 10.7) have the right (but not the obligation) to (i) acquire all (but not a portion) of the Relevant Shares held by Grab and/or (ii) require the Company to issue
the Relevant Shares, at Fair Market Value per Share (the “Singtel First Offer Option”); 

  

	 	(II)	 Singtel and/or its Affiliate may exercise the Singtel First Offer Option by giving written notice of such
exercise to Grab and the Company within three (3) months after the later of (A) the occurrence of any event in Section 8.5(b)(iv)(x) or Section 8.5(b)(iv) (y) (as the case may be) and (B) the date of determination of the
Fair Market Value per Share pursuant to Section 8.5(b)(v) (the “Singtel Option Period”), and following such exercise, completion of the sale and purchase and/or subscription (as the case may be) of the Relevant Shares shall
occur on a Business Day to be specified by Singtel (such Business Day falling not later than twenty (20) Business Days after the expiry of the Singtel Option Period, subject any extension in accordance with Section 8.1(d)(ii)). On such
completion (in the case of a sale and purchase), Singtel and/or its Affiliate shall acquire the Relevant Shares from Grab, fully paid, free from all Encumbrances (other than those arising under this Agreement or the Constitution) and together with
all rights, benefits and entitlements attached thereto as at the date of completion, and (in the case of subscription), Singtel and/or its Affiliate shall subscribe for the Relevant Shares validly issued, free from all Encumbrances (other than those
arising under this Agreement or the Constitution) and ranking in all respects pari passu with all existing Class A Ordinary Shares; 

  
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	 	(III)	 in the event that Singtel does not exercise the Singtel First Offer Option within the Singtel Option Period,
Grab and Singtel shall use their commercially reasonable efforts to find a mutually acceptable third party purchaser approved by MAS for purposes of restoring compliance with the Singaporean License Condition (“Eligible Purchaser”)
to purchase the Relevant Shares from Grab at Fair Market Value per Share, and on such other terms and conditions to be agreed between the Eligible Purchaser and Grab. Grab shall Transfer all the Relevant Shares to the Eligible Purchaser within three
(3) months after the expiration of the Singtel Option Period, subject to any extension in accordance with Section 8.1(d)(ii)); and 

  

	 	(IV)	 in the event that Grab and/or Singtel are for whatever reason unable to find an Eligible Purchaser and/or the
Transfer of all the Relevant Shares to the Eligible Purchaser is not completed, in each case, within three (3) months after the expiration of the Singtel Option Period (the “Eligible Purchaser Period”), Grab shall use its
commercially reasonable efforts to find a third party purchaser being any Person that is approved by MAS for purposes of restoring compliance with the Singaporean License Condition and that is not an Expanded Prohibited Person (a “Grab
Directed Purchaser”), and shall have the right to Transfer the Relevant Shares to the Grab Directed Purchaser, within three (3) months after the expiration of the Eligible Purchaser Period (subject any extension in accordance with
Section 8.1(d)(ii)), at any price (regardless of Fair Market Value per Share) and on such other terms and conditions to be agreed between Grab and the Grab Directed Purchaser; provided, that Grab shall afford Singtel and/or its Affiliate
a reasonable opportunity (not being less than 20 Business Days) to participate in the process to acquire all (and not some only) of the Relevant Shares, if Grab decides to sell any of the Relevant Shares at a discount to the Fair Market Value per
Share to a potential Grab Directed Purchaser. If Grab decides to accept the offer by Singtel and/or its Affiliate to purchase all (and not some only) of Relevant Shares at the said discount to the Fair Market Value per Share, completion of the sale
and purchase of the Relevant Shares shall occur on a Business Day to be specified by Singtel (such Business Day falling not later than twenty (20) Business Days after acceptance of the said offer, subject to any extension in accordance with
Section 8.1(d)(ii)). On such completion, Singtel and/or its Affiliate shall acquire the Relevant Shares from Grab, fully paid, free from all Encumbrances (other than those arising under this Agreement or the Constitution) and together with all
rights, benefits and entitlements attached thereto as at the date of completion. 

  
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	 	(V)	 In the event that there is no purchaser for the Relevant Shares within 3 months from the expiration of the
Eligible Purchaser Period, Grab, Singtel and the Company shall discuss and explore other remediation steps or arrangements with MAS (in addition to the obligation of Grab to provide the Proxy to Singtel pursuant to Section 8.5(b)(i) and after
taking into account the actions already taken pursuant to Section 8.5(b)(iv)(I) to (IV) above) to restore compliance with the Singaporean License Condition, including negotiating with MAS any Singaporean shareholding or control requirement
set forth in the DB License (including a downward revision thereof) and the provisions of Section 8.5(b)(iv) shall apply mutatis mutandis, on an evergreen basis, until and unless compliance with the Singaporean License Condition
is restored and confirmed in writing by MAS and the Proxy given to Singtel is terminated in accordance with its terms. Grab and Singtel shall use commercially reasonable efforts to agree on the remediation steps or other arrangements with MAS to
restore compliance provided, that (x) Singtel shall in no event be obliged to agree to any amendments or revisions to this Agreement, the Constitution or any other Transaction Documents that will adversely affect Singtel’s rights
and obligations hereunder or thereunder, (y) Singtel or its Affiliates shall in no event be obliged to assume control of the Company, and (z) such agreement shall not impose a moratorium or restriction on the ability of Singtel to sell its
Shares; and 

 (v) the Fair Market Value in relation to each Share shall be determined as follows: 

  
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	 	(I)	 for the period ending fifteen (15) days (the “Mutual FMV Valuation Period”) after the
date of the occurrence of any event in Section 8.5(b)(iv)(x) or Section 8.5(b)(iv) (y) (as the case may be), Grab and Singtel shall in good faith negotiate the Fair Market Value per Share as of such date; 

 

	 	(II)	 If Grab and Singtel are unable to reach agreement as to such Fair Market Value within the Mutual FMV Valuation
Period, they shall, as soon as practicable but in no event later than ten (10) days after the expiration of the Mutual FMV Valuation Period, each submit to a mutually agreed internationally recognized, independent accounting firm or investment
bank (and in the event Grab and Singtel cannot agree during such ten (10)-day period, then either of them may request the International Chamber of Commerce to select such internationally recognized,
independent accounting firm or investment bank) (such independent third party, the “FMV Valuer”), its determination of such Fair Market Value. An internationally recognized accounting firm or investment bank shall be deemed
independent if it has not audited the consolidated financial statements of or performed advisory services for, any of Grab Parent or Singtel Parent in respect of any of their last three (3) financial years; 

 

	 	(III)	 each such submission shall include copies of the latest relevant and readily available working papers,
supporting schedules, supporting analyses, other supporting documentation and other items reasonably requested by the FMV Valuer. At or prior to the time of such submission, Grab and Singtel will each instruct the FMV Valuer to keep such submission
confidential and not to disclose its contents to any other Person until the respective other Party has also submitted its determination to the FMV Valuer. The FMV Valuer will also be instructed by Grab and Singtel to give copies of each submission
to both of them simultaneously promptly (but in any event within one (1) calendar day) after both such determinations have been submitted to it; 

  

	 	(IV)	 the FMV Valuer shall then determine the Fair Market Value per Share by selecting either of (a) the
calculation of Fair Market Value submitted to the FMV Valuer by Grab or (b) the calculation of Fair Market Value submitted to the FMV Valuer by Singtel which, in the view of the FMV Valuer, is closer to the Fair Market Value per Share,
provided, that the FMV Valuer shall be instructed to limit its determination of Fair Market Value to any matters in dispute between Grab and Singtel. Grab and Singtel shall request that the FMV Valuer render its decision within thirty (30)
calendar days following the later of the submissions by Grab and Singtel to the FMV Valuer of their respective determinations of Fair Market Value per Share; 

  
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	 	(V)	 the FMV Valuer shall act as an expert and not an arbitrator, and Grab and Singtel agree that the determination
of Fair Market Value in accordance with this Section 8.1(b)(v) shall (in the absence of manifest error) be final and binding and conclusive on Grab and Singtel, not appealable and not subject to further review. They further agree that the
procedure set forth in this Section 8.1(b)(v) for determining Fair Market Value shall be the sole and exclusive method for such determination; and 

  

	 	(VI)	 the fees and expenses of the FMV Valuer in connection with its determination of Fair Market Value under this
Section 8.5(b)(v) shall be borne in their entirety by the Party whose calculation was further away from the Fair Market Value and therefore not selected by the FMV Valuer pursuant to Section 8.5(b)(v)(IV). 

(c) In the event that Grab and Singtel do not agree during a period of thirty (30) days that a Loss of Singaporeaness has occurred
pursuant to the Grab Loss of Singaporeaness Notice, they shall refer the matter to the MAS to make a determination as to whether a Loss of Singaporeaness has occurred or will occur. In the event that the MAS determines that a Loss of Singaporeaness
has occurred, Section 8.5(b) shall apply mutatis mutandis. For the avoidance of doubt, this provision does not apply to any of the events set out in limbs (a), (b), (c) or (d) of the term “Loss of Singaporeaness”.

 (d) Singtel shall negotiate the terms and conditions (including with respect to the Regionalization Agreement and Restrictive Covenant
Agreement) with the Eligible Purchaser or the Grab Directed Purchaser, as applicable, and Grab in good faith and as promptly as practicable, provided, that Singtel shall in no event be obliged to agree to any amendments or revisions to this
Agreement or any other shareholders’ agreement in respect of the Company, the Constitution or any other Transaction Documents that will adversely affect Singtel’s rights and obligations hereunder or thereunder. 

(e) The Company hereby makes or grants offers to subscribe for the Relevant Shares to Singtel pursuant to, and in accordance with, this
Section 8.5. 
 (f) Any Transfer or issuance of Relevant Shares under this Section 8.5 shall be subject to Section 10.6. 

  
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 (g) Notwithstanding anything to the contrary, for so long as Grab complies with its
obligations under this Section 8.5, a Loss of Singaporeaness shall not constitute an Event of Default. 
 Section 8.6.
Permitted Transferees. Any Shareholder (the “Transferor Shareholder”) may at any time Transfer all (or any portion) of the Shares held by it to a Permitted Transferee of the Transferor Shareholder, provided that the
relevant Transfer complies with the provisions of Section 8.1 and the following conditions: 
 (a) the Transferor Shareholder shall
remain jointly and severally liable for the Permitted Transferee; 
 (b) the Transfer is made on the condition that if the Permitted
Transferee ceases to be a Permitted Transferee of the Transferor Shareholder, it shall procure that all (and not some only of) the Shares held by it be further Transferred either (i) back to the Transferor Shareholder or (ii) to another
Permitted Transferee of the Transferor Shareholder on or prior to such cessation, and Section 8.1 and this Section 8.6 shall apply to any such further Transfer but Sections 8.3 and 8.4 shall not apply to such further Transfer; 

(c) the Permitted Transferee is able to make, and shall be deemed to have made, all of the representations and warranties in Section 11.1
as of the date the Transfer is registered; 
 (d) notice in writing of the Transfer is given to the other Shareholder promptly and in any
event, not later than two Business Days after such Transfer; 
 (e) the provisions of Section 14.18 shall apply (in the event of a
partial Transfer) of the Shares held by the Transferor Shareholder; and 
 (f) without prejudice to Section 8.6(a) and subject to
Section 8.8, in the event of a Transfer of all (and not some only) of the Shares held by the Transferor Shareholder, it is expressly agreed that the Permitted Transferee shall assume all the rights and obligations (including the covenants under
Sections 10.12, 10.13 and 10.14, where applicable) of the Transferor Shareholder under this Agreement. 
 Section 8.7. MAS/
Regulatory Compliance Principle. Any Transfer of Shares under this Article VIII shall be subject to Section 10.6. 

Section 8.8. Conditions to Transfers. Notwithstanding any provisions to the contrary in this Agreement (including under this
Article VIII), the Parties agree that, in respect of any Transfer of Shares: 
 (a) the Transferee (and, if applicable, its New Parent
Shareholder), if not already a party to each of this Agreement, the Regionalization Agreement and/or the Restrictive Covenant Agreement, shall be required to deliver to the Company (and each Shareholder), as the case may be: 

(i) a counterpart of a Deed of Adherence duly executed by the Transferee and (if applicable) the New Parent Shareholder; 

  
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 (ii) a counterpart of a deed of adherence to the Regionalization Agreement (in
substantially the form prescribed by the Regionalization Agreement), duly executed by the Transferee and (if applicable) the New Parent Shareholder, unless otherwise waived by, or varied with the approval of, all Shareholders in writing; 

(iii) a counterpart of a deed of adherence to the Restrictive Covenant Agreement (in substantially the form prescribed by the Restrictive
Covenant Agreement), duly executed by the Transferee and (if applicable) the New Parent Shareholder, unless otherwise waived by, or varied with the approval of, all Shareholders in writing; and 

(iv) any other agreements, documents or instruments as the Company may reasonably require (after receipt of the prior written consent of the
Shareholder effecting the Transfer in question); and 
 (b) the Company must not, as a result of such Transfer, cease to comply with the
terms imposed by MAS in the IPA or any License Condition (including the Singaporean License Condition) and/or under applicable Laws; and provided, further, that such Transfer (other than any Transfer referred to in Sections 8.1(b)(i),
(iii), (iv) and (v) above) shall be subject to the following conditions: 
 (i) the Transferee shall not be a Prohibited Person, except
in the case of a Transfer in accordance with Section 8.4 in which each of Grab and Singtel sells the entirety of its Shares; 
 (ii)
the consideration paid for such Transfer shall be entirely in cash, save for Transfer referred to in Section 8.4; 
 (iii) such
Transfer shall not require the filing of a prospectus or a registration statement by the Company pursuant to any applicable securities Laws; and 

(iv) such Transfer shall not result in the violation of applicable Law. 

Any Transfer or attempted Transfer in violation of this Agreement (including Sections 8.7 and 8.8) shall be null and void ab initio and no
such Transfer shall be recorded in the Company’s electronic register of members. 
 ARTICLE IX 

PREEMPTIVE RIGHTS 

Section 9.1. Preemptive Rights; Election to Purchase Offered Securities. 

(a) Without prejudice to Section 7.4(a), if the Company wishes to issue any Shares or any other equity securities, or securities
exercisable or exchangeable for, or convertible into, Shares or other equity securities of the Company (including any option, warrant or other right to subscribe for, purchase or otherwise acquire equity securities in the Company) (the
“Offered Securities”) after the date of the Previous Shareholders’ Agreement to any Person, the Company shall give each of Grab and Singtel (the “Issuance Offerees”) prior written notice of such proposed
issuance, which notice shall disclose in reasonable detail the proposed terms and conditions of such issuance, including the number of Offered Securities and the identity of any prospective allottee (the “Issuance Notice”). 

  
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 (b) Upon receipt of the Issuance Notice, each Issuance Offeree shall have the right to elect
to subscribe for, at the price (which shall be solely in cash) and on the terms stated in the Issuance Notice, all or any portion of the Offered Securities by delivering written notice to the Company (the “Subscription Notice”)
within twenty (20) Business Days after receipt by such Issuance Offeree of the Issuance Notice (the “Acceptance Period”) and specifying therein the number of Offered Securities such Issuance Offeree is electing to
subscribe, regardless of such Issuance Offeree’s pro rata portion. Those Issuance Offerees electing to subscribe for Offered Securities shall be referred to as “Subscribing Shareholders”. 

(c) If more than one Subscribing Shareholder elects to subscribe for Offered Securities and the sum of the Offered Securities that the
Subscribing Shareholders elect to subscribe exceeds the aggregate number of Offered Securities that were set forth in the Issuance Notice as being available for subscription, each Subscribing Shareholder shall be required to subscribe for such
number of Offered Securities (but not a portion thereof) that is equal to the lower of: 
 (i) the number of Offered Securities committed to
be subscribed for by such Subscribing Shareholder as set forth on the Subscription Notice; and 
 (ii) the product of: 

 

	 	(I)	 the number of all of the Offered Securities set forth on the Issuance Notice, multiplied by

  

	 	(II)	 a fraction, (x) the numerator of which is the number of issued and outstanding Shares owned by such
Subscribing Shareholder, and (y) the denominator of which is the aggregate number of issued and outstanding Shares owned by all Subscribing Shareholders. 

provided that, after apportioning the Offered Securities among all Subscribing Shareholders in accordance with the preceding provisions of this
Section 9.1(c), any excess Offered Securities thereafter shall be apportioned between or among all Subscribing Shareholders who have elected to subscribe for in aggregate more than the number of Offered Securities determined in accordance with
Section 9.1(c)(ii) (the “Excess Subscribing Shareholders”) on a basis that is pro rata to their respective Shareholder Group’s Shareholding Percentages inter se prior to the Issuance Notice,
provided further that no Excess Subscribing Shareholder shall be obliged to subscribe for in aggregate more than the number of Offered Securities reflected on its Subscription Notice. Any excess Offered Securities thereafter, shall be
subscribed by the Excess Subscribing Shareholder which had elected to subscribe for the same in its Subscription Notice. 
 (d) Each such
Subscribing Shareholder shall be required to consummate the subscription of the Offered Securities it has elected to subscribe for in accordance with this Article IX on the Business Day falling five (5) Business Days after the expiry of the
Acceptance Period (subject to extension in accordance with Section 8.1(d)(ii) applied mutatis mutandis) or such later date as may be agreed between all Subscribing Shareholders and the Company, on the terms and subject to the
conditions set forth in the Issuance Notice. For the avoidance of doubt, completion of the subscription of the Offered Securities shall occur simultaneously on the same date. 

  
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 Section 9.2. Issuance to Third Party. 

(a) If by the expiration of the Acceptance Period, Subscription Notices shall have been received by the Company in respect of fewer than one
hundred per cent (100%) of the Offered Securities or if no Subscription Notices shall have been received by the Company within the Acceptance Period (such unsubscribed Offered Securities, the “Remaining Securities”) then,
notwithstanding anything to the contrary in this Agreement but subject to Section 9.4, the Company may, at its election, during a period of one hundred twenty (120) calendar days following the expiration of the Acceptance Period (subject
to extension in accordance with Section 8.1(d)(ii), applied mutatis mutandis), sell and issue the Remaining Securities to one or more other Persons at a price and upon terms no more favorable to such Person(s) than those stated in
the Issuance Notice; provided, however, that any such Person (“New Subscriber”) purchasing the Remaining Securities not already a party to this Agreement, the Regionalization Agreement and/or the Restrictive Covenant
Agreement (and its New Parent Shareholder), shall have delivered to the Company (and each Shareholder), as the case may be: 
 (i) a
counterpart of a Deed of Adherence, duly executed by the New Subscriber (and, if applicable, its New Parent Shareholder), unless varied with the approval of all Shareholders in writing. 

(ii) a counterpart of a deed of adherence to the Regionalization Agreement (in substantially the form prescribed by the Regionalization
Agreement), duly executed by the New Subscriber and, if applicable, the New Parent Shareholder, unless otherwise waived by, or varied with the approval of, all Shareholders in writing; 

(iii) a counterpart of a deed of adherence to the Restrictive Covenant Agreement (in substantially the form prescribed by the Restrictive
Covenant Agreement), duly executed by the New Subscriber and, if applicable, the New Parent Shareholder, unless otherwise waived by, or varied with the approval of, all Shareholders in writing; and 

(iv) any other agreements, documents or instruments as the Company may reasonably require. 

(b) In the event the Company has not sold and issued all of the Remaining Securities within such one hundred twenty (120) calendar day
period (or such longer period determined in accordance with Section 8.1(d)(ii), applied mutatis mutandis), the Company shall not thereafter issue or sell any such unsold and/or unissued Remaining Securities without first offering
such securities to the Issuance Offerees in the manner provided in this Article IX. 
 Section 9.3. Permitted Issuances.
Notwithstanding anything to the contrary contained in this Agreement, this Article IX (except for Section 9.4) shall not apply to any Permitted Issuance. 

  
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 Section 9.4. No Issuances to Prohibited Persons; MAS/Regulatory Compliance
Principle. Notwithstanding anything to the contrary contained in this Agreement, the Company shall not issue any Shares to a Prohibited Person, directly or indirectly. Any issuances of Offered Securities under this Article IX shall be subject to
Section 10.6. 
 ARTICLE X 

CERTAIN COVENANTS 

Section 10.1. Further Assurances. In case at any time after the date of this Agreement, any further action is required by Law or
necessary or desirable to implement and carry out the purposes of this Agreement, each of the Parties shall use their commercially reasonable efforts to take all such action. 

Section 10.2. Confidentiality. 

(a) Subject to Section 10.2(c), each applicable Party undertakes, and agrees to cause its Affiliates (other than DB Group) which are
provided with Confidential Information: 
 (i) (I) with respect to the Company, except with the prior written consent of Grab and Singtel,
to keep the existence of this Agreement and the other Transaction Documents and the contents thereof strictly confidential and not to disclose such information to third parties and (II) with respect to each Party (other than the Company),
except with the prior written consent of the Company and the other Party(ies) which is/are Grab and/or Singtel (as the case may be)), to keep the existence of this Agreement and the other Transaction Documents and the contents thereof strictly
confidential and not to disclose such information to third parties; 
 (ii) with respect to each Party (other than the Company), except with
the prior written consent of the Company, to keep all information disclosed to it (or to any of its Affiliates) relating to any DB Group Company or any other Person in which any DB Group Company holds any equity interests that is proprietary to any
such entity or otherwise not available to the general public, irrespective of the form or medium of the information, including information concerning the properties, employees, finances, businesses and operations of any DB Group Company or any other
Person in which any DB Group Company holds any equity interests, and all notes, analyses, compilations, studies, forecasts, interpretations or other documents or derivatives of any of the foregoing prepared by a receiving Shareholder or any of its
Affiliates (other than DB Group), representatives or professional advisors that contain, reflect or are based upon, in whole or in part, the information furnished to or acquired by such Shareholder or such Affiliates (“Confidential
Information”, it being understood and agreed that the term “Confidential Information” also includes the information referred to in Section 10.2(a)(i)) strictly confidential and not to disclose any Confidential Information to
third parties; and 
 (iii) with respect to each Party (other than the Company), except with the prior written consent of the Company, not
to use any of the Confidential Information, other than: 
  

	 	(I)	 in connection with its or its Affiliates’ investment in the Company in accordance with this Agreement (but
in any event, for the benefit of the DB Group); 

  
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	 	(II)	 to effect the purpose of each of the Collaboration Agreements, the Regionalization Agreement, the Restrictive
Covenant Agreement and other Transaction Documents (where applicable), but subject always to the terms and conditions of the Collaboration Agreements the Regionalization Agreement, the Restrictive Covenant Agreement and other Transaction Documents
(including the confidentiality obligations and use restrictions thereunder), where applicable; or 

  

	 	(III)	 in relation to and to effect the purpose of any collaboration with the Company or any of its subsidiaries in
the DB Group’s ordinary course of business, but subject always to the terms and conditions of such collaboration (including the confidentiality obligations and use restrictions thereunder). 

(b) The restrictions on disclosure in Section 10.2(a) shall not apply to information that: 

(i) is disclosed by a Party to its Affiliates and its and their respective shareholders, members, partners, other constituent holders,
representatives, directors, officers, employees, agents, advisers or consultants who need to know such information for the purposes of Sections 10.2(a)(iii)(I) and (II) and are subject to confidentiality obligations under applicable Law (in the
case of e.g. directors and officers), professional ethics rules (in the case of, e.g., lawyers) or that are otherwise in all material respects in the aggregate as comprehensive as those contained in this Section 10.2; provided, that such
Party shall procure that such Persons will not make any further disclosure or engage in prohibited use of such information, and that such Party shall be responsible for any breach by any such Person of the provisions of this Section 10.2 as if
they were a party to this Agreement; and provided, further, that each Party (other than the Company) shall be permitted to disclose any Confidential Information to its and its Affiliates’ current and prospective Transferees
(subject to compliance with Section 10.2(b)(ix), investors, underwriters, issue managers or lenders as long as such Person is subject to confidentiality obligations under applicable Law (in the case of e.g. directors and officers), professional
ethics rules (in the case of, e.g., lawyers) or that are otherwise in all material respects in the aggregate as comprehensive as those contained in this Section 10.2. Notwithstanding any provision in this Section 10.2 to the contrary,
nothing in this Section 10.2(b)(i) shall permit Grab (or any of its Affiliates) from disclosing any Confidential Information to MUFG, any member of the MUFG Banking Group for the purpose or in furtherance of any MUFG Collaboration or any other
matter contemplated in any of the MUFG Agreements; 
 (ii) has been known to the receiving Party (other than the Company) (the
“Receiving Party”) prior to becoming a Party, without restriction as to confidentiality or use, prior to disclosure of same by any DB Group Company or any other Party; 

(iii) is received from a third party without, to the Receiving Party’s knowledge, restriction as to confidentiality or use, which third
party is lawfully entitled to possession of such information and does not violate any contractual, legal or fiduciary obligation, direct or indirect, in favor of any DB Group Company or any other Party to keep such information confidential; 

  
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 (iv) was or becomes generally available to the public other than through a violation of
this Agreement by the Receiving Party; 
 (v) is independently developed by the Receiving Party without use of any Confidential Information;

 (vi) subject to compliance with Section 10.2(c) where applicable, the Receiving Party is required or requested to disclose pursuant
to Law (including by deposition, interrogatory, request for documents, subpoena, civil investigative demand or similar process or otherwise and including those promulgated by a self-regulatory body such as a stock exchange); 

(vii) disclosure is made to a tax authority where such disclosure is reasonably necessary for the management of the tax affairs of a Party or
its Affiliates; 
 (viii) is disclosed in connection with any dispute between the Company or any of its Affiliates (other than Grab or
Singtel, where applicable), on the one hand, and any Shareholder or any of its Affiliates (other than DB Group), on the other hand, or between any two (2) or more Shareholders, in each case related to, arising out of or otherwise in connection
with this Agreement or any other Transaction Document; or 
 (ix) to any prospective Transferee or subscriber, provided, that: 

 

	 	(I)	 the prospective Transfer or issuance, and prospective Transferee or subscriber must be permitted under this
Agreement; 

  

	 	(II)	 the prospective Transferee or subscriber enters into a written confidentiality agreement on substantially the
same terms as Section 10.2 in favor of the Company (except where such Transfer is to a Permitted Transferee of the Transferor, such Permitted Transferee is otherwise bound by a duty of confidentiality to the Receiving Party, and such Receiving
Party agrees to be liable for any non-compliance by such Permitted Transferee with the terms of Section 10.2); and 

 

	 	(III)	 other than with respect to a Transfer to a Permitted Transferee, the prospective Transferee must be a
bona fide potential purchaser with a sufficient degree of creditworthiness to consummate the proposed Transfer. 

(c) In the event that the Receiving Party or the Company (as the case may be) (the “Disclosing Party”) is required or
requested pursuant to Law (including by deposition, interrogatory, request for documents, subpoena, civil investigative demand or similar process or otherwise, and including those promulgated by any self-regulatory body such as a stock exchange) to
disclose any Confidential Information, the Disclosing Party shall, unless prohibited by Law: 

  
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 (i) in the event the Disclosing Party is the Receiving Party, provide the Company (with a
copy to the other Parties); and 
 (ii) in the event the Disclosing Party is the Company, provide the other Parties, 

in each case, with prompt prior written notice (email being sufficient) of such disclosure requirement (which shall include a copy of any
applicable subpoena, civil investigative demand or order) so that the Company or such other Parties (as the case may be) (the “Non-Disclosing Party(ies)”) may seek a protective order or other
appropriate remedy at the sole cost and expense of the Non-Disclosing Party(ies) and/or waive compliance with the terms of Section 10.2. In the event that such protective order or other remedy is not
obtained, or that the Non-Disclosing Party(ies) waive compliance with the provisions hereof, Disclosing Party agrees to furnish only that portion of the Confidential Information which the Disclosing Party is
advised by outside counsel is legally required, and to exercise commercially reasonable efforts to obtain assurance that confidential treatment will be accorded such Confidential Information to the extent reasonably requested by the Non-Disclosing Party(ies). 
 (d) Each Party further agrees not to make any public announcement or press
release relating to this Agreement, any other Transaction Document, or the transactions contemplated hereby or thereby without the prior written approval of the other Parties, save as otherwise provided under Section 10.2(e) below. 

(e) Notwithstanding anything to the contrary in this Agreement, Section 10.2 shall not prevent any public announcement or disclosure by
any Party (or its Affiliates) that: 
 (i) is reasonably necessary or appropriate under applicable Law or the rules or regulations of any
stock exchange on which the securities of the Company or any of the Parties or any of its or their Affiliates are listed (including, in relation to Singtel, the listing rules of the SGX-ST for such time as
Singtel Parent is listed on the SGX-ST) or contemplated to be listed or is required by any Government Authority having jurisdiction over such Party or its Affiliates; or 

(ii) is reasonably necessary or appropriate or required by such Party or its Affiliates in connection with such Party and, in the case of
Grab, Grab Parent and GFG, and in the case of Singtel, Singtel FinGroup (or any of their respective Affiliates), being or becoming a publicly traded company (including filings with the U.S. Securities and Exchange Commission or any other competent
Government Authority), 
 provided, that such Party shall, to the fullest extent permitted by Law, reasonably consult with the Company, Grab and
Singtel (as applicable) and, in the case of such public announcement or disclosure by Grab, with Singtel, and vice versa, as to the content and timing of such public announcement or disclosure. 

Section 10.3. Information Rights. 

(a) The Company shall provide to each Shareholder, upon such Shareholder’s reasonable request (and, to the extent that any such request
relates to information that the Company does not have readily available or is not required to produce in the ordinary course, at such Shareholder’s reasonable cost and expense), such financial, accounting, tax and other information concerning
the Company, the other DB Group Companies and the Associated Companies of the DB Group (to the extent available) as required by applicable Law for the purposes of such Shareholder’s compliance with applicable accounting, tax and regulatory
requirements (and in that regard shall permit any officer or authorized representative of such Shareholder from time to time upon reasonable prior notice to inspect (and take copies of) any relevant books, papers, documents and other records of the
Company, the other DB Group Companies and the Associated Companies of the DB Group (to the extent available)). 

  
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 (b) Subject to Section 10.3(c), the Company shall provide to Grab, Singtel and their
respective Shareholder Group the following: 
 (i) within eighteen (18) calendar days after (x) the end of each month and
(y) the end of the first three quarters of each financial year of the Company, unaudited monthly consolidated management accounts of the Company and KPIs for such month or unaudited quarterly consolidated financial statements of the Company and
KPIs for such quarter, on the same basis as provided to the Company’s management and/or the Board, including explaining any deviations from the strategy set out in the Business Plan, material deviations from the Budget and projections and what
actions the Company has taken or proposes to take with respect thereto; 
 (ii) within seventy (70) calendar days after the end of each
financial year of the Company, the audited consolidated financial statements of the Company in accordance with IFRS for such period or year (as the case may be), together with the relevant audit and management letters; 

(iii) any of the following within five (5) Business Days of receipt by the Company of the same, in each case in respect of any DB Group
Company: 
  

	 	(I)	 an internal audit report; 

 

	 	(II)	 any warning, reprimand, censure, penalty or action from any Government Authority; 

 

	 	(III)	 tax audits and assessments; and 

 

	 	(IV)	 tax rulings and incentives, to the extent material; 

(iv) from time to time as reasonably requested by such Shareholder, reasonable access (subject to customary exceptions) to members of the DB
Group’s management team as determined by the Company on the basis of their availability; and 
 (v) as soon as practicable after its
adoption, a copy of the Business Plan, Budget and projections in respect of the next financial year of the DB Group which was adopted by the Board in accordance with Article III. 

(c) Each of Grab, Singtel and their respective Shareholder Group shall be entitled to the information rights under Section 10.3(b) only
for such time as it: 

  
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 (i) is not a Non-Contributing Shareholder or
otherwise a Defaulting Shareholder; and 
 (ii) has not Transferred any Shares other than in accordance with Article VIII. 

(d) Each Shareholder hereby agrees that any information provided to such Shareholder pursuant to this Section 10.3 is Confidential
Information subject to the provisions of Section 10.2. 
 Section 10.4. [Reserved]. 

Section 10.5. [Reserved]. 

Section 10.6. MAS/Regulatory Compliance Principle. Notwithstanding anything to the contrary contained in this Agreement and the
Constitution, to the extent that any appointments of Directors under Article V or management positions under Article VI or issuances or Transfers of Shares or any other matter referred in this Agreement requires regulatory approval, such matters
shall be conditional on regulatory approval being obtained. 
 Section 10.7. Indemnification. Where any Indemnified Event of
Default occurs in relation to a Defaulting Shareholder, such Defaulting Shareholder shall fully indemnify and hold harmless each other Shareholder and its Affiliates from and against any and all Losses that such Shareholder and/or any of its
Affiliates has sustained, incurred or suffered by reason of, resulting or arising from, such Indemnified Event of Default; provided, that the aggregate liability of such Defaulting Shareholder in respect of all claims for such Losses shall
not exceed an amount equal to the Indemnified EOD Aggregate Amount. For the avoidance of doubt, the indemnification provisions in this Section 10.7 are without prejudice to all other rights and remedies of the
Non-Defaulting Shareholder under this Agreement or otherwise. 
 Section 10.8. Oversight by
Shareholder Employees. Subject to the approval by MAS (if required) and applicable Laws, each of Grab and Singtel shall have the right to second, at the Company’s cost and expense, one or more employees of Grab or Singtel (or any of their
Affiliates), respectively, to the Company or any other DB Group Company on a full-time basis, on secondment terms and conditions, substantially in the form set out Exhibit H (save as may be otherwise agreed between Grab and Singtel in
writing), and to appoint such employee to sit in the various management committees formed in the Company in order to provide the relevant oversight on the operations of the DB Group, accept the responsibility for the operations of the digital bank
and ensure that the digital bank maintains a sound liquidity position at all times pursuant to the MAS Undertakings or otherwise as required by MAS. Grab and Singtel shall promptly share any findings and reports prepared by or on behalf of such
employee with the respective other Party. 
 Section 10.9. ESOP. Grab and Singtel acknowledge and agree that the Remuneration
Committee shall recommend to the Board, and the Board shall establish, an ESOP with respect to the Option Pool as soon as practicable. The terms and conditions of the ESOP, and any amendments or revisions thereto, as well as the grant of any options
thereunder, shall be determined by the Remuneration Committee, recommended to the Board and approved as a Board Reserved Matter; provided, that (i) any increase of the size of the Option Pool or (ii) any grant of any options
exceeding (x) twenty per cent. (20%) of the Option Pool in any of the first three (3) financial years after the date of the Previous Shareholders’ Agreement or (y) fifteen per cent. (15%) of the Option Pool
in any financial year thereafter shall require approval as a Shareholders’ Reserved Matter. 

  
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 Section 10.10. Name and Brand. Grab and Singtel shall work together to determine
within six (6) months after the Effective Date, an appropriate corporate name and brand (including logo and trademark) for the DB Group, based on the principle that the chosen corporate name should maximize consumer attraction and business.
Unless otherwise agreed between Grab and Singtel, the corporate name shall be a neutral name which shall not include the name (or abbreviation of such name) of either such Party or any of its Affiliates (other than DB Group). If, however, a
Shareholder ceases to be a Shareholder and the corporate name of the Company and/or any applicable DB Group Company at such time contains any word the same or similar to the corporate name or any distinctive part of the corporate name of that
Shareholder, the remaining Parties shall procure that the corporate name of the Company and/or the other DB Group Company in question shall be changed to exclude that word within 30 calendar days of the Shareholder ceasing to be a Shareholder. 

Section 10.11. Outsourcing Principles. Grab and Singtel agree that periodic reviews shall be conducted to ascertain whether any
functions underlying the Business should be outsourced to, or continue to be outsourced to, a Shareholder or its Affiliate or otherwise to external vendors. The Parties agree that the principles of outsourcing set out in Exhibit I would guide
the DB Group’s approach to outsourcing. Subject to such principles, both Grab and Singtel (and their respective Affiliates) may second employees with the right skillset, and provide services, to the DB Group and the DB Group shall bear the
remuneration of such secondees and pay for such services, in each case, on such terms and conditions as may be mutually agreed between Grab or Singtel (on the one hand) and the applicable DB Group Company (on the other hand) in accordance with
Exhibit I. 
 Section 10.12. Grab covenants with respect to MUFG and other Persons. Grab undertakes to and with Singtel
the following, and to cause Grab’s Affiliates (other than DB Group), in each case without Singtel’s prior written consent: 
 (a)
not to agree to any revision, amendment and/or supplement to, or renewal of, any of the MUFG Agreements and other Disclosed Agreement that will breach or result in the avoidance of: 

(i) the rights of the Parties (other than Grab) under this Agreement, the Regionalization Agreement, the Restrictive Covenant Agreement and/or
the other Transaction Documents (including the rights of the DB Group to carry on the Business (or any part thereof) in any Restricted Territory, save as otherwise expressly provided in the Regionalization Agreement or the Restrictive Covenant
Agreement); and/or 
 (ii) the obligations of Grab or its Affiliates under this Agreement, the Regionalization Agreement, the Restrictive
Covenant Agreement and/or the other Transaction Documents. 

  
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 For the avoidance of doubt, any expansion or variation of, or change in (a) the definition of
“Business” or (b) the scope of business that is contemplated under any of the MUFG Agreements or other Disclosed Agreement as at the date of the Previous Shareholders’ Agreement, where such expansion or variation or change will
result in the breach or avoidance of Section 10.12(a), shall be deemed to be a revision or amendment to such MUFG Agreement or other Disclosed Agreement to which this Section 10.12(a) applies, save as otherwise expressly provided in the
Regionalization Agreement or the Restrictive Covenant Agreement; and 
 (b) not enter into any new Undisclosed Agreements (whether or not
with MUFG or MUFG Banking Group), or agree to any revision, amendment and/or supplement to, or renewal of, any existing Undisclosed Agreements, that will breach or result in the avoidance of: 

(i) the rights of the Parties (other than Grab) under this Agreement, the Regionalization Agreement, the Restrictive Covenant Agreement and/or
the other Transaction Documents (including the rights of the DB Group to carry on the Business (or any part thereof) in any Restricted Territory, save as otherwise expressly provided in the Regionalization Agreement or the Restrictive Covenant
Agreement); and/or 
 (ii) the obligations of Grab or its Affiliates under this Agreement, the Regionalization Agreement, the Restrictive
Covenant Agreement and/or the other Transaction Documents; 
 provided, that nothing herein shall prevent Grab or its Affiliates from entering into
any other agreement, or agreeing to any revision, amendment and/or supplement to or renewal of such other agreement. 
 For the avoidance of doubt, any
expansion or variation of, or change in (a) the definition of “Business” or (b) the scope of business that is contemplated under any of the Undisclosed Agreement, where such expansion or variation or change will result in the
breach or avoidance of Section 10.12(b), shall be deemed to be a revision or amendment to such Undisclosed Agreement to which this Section 10.12(b) applies, save as otherwise expressly provided in the Regionalization Agreement or the
Restrictive Covenant Agreement. 
 Section 10.13. MUFG AI Technology Lab. DB Group shall not license any Banktech from Grab or
its Affiliates that was created by or within the MUFG AI Technology Lab, without the prior written consent of Singtel. 

Section 10.14. Singtel covenants with respect to other Persons. Singtel undertakes to and with each of the other Parties the
following, and to cause Singtel Parent, Singtel FinGroup and their respective Affiliates, in each case without Grab’s prior written consent: 

(a) not enter into any new Undisclosed Agreements, or agree to any revision, amendment and/or supplement to, or renewal of, any existing
Undisclosed Agreements, that will breach or result in the avoidance of: 
 (i) the rights of the Parties (other than Singtel) under this
Agreement, the Regionalization Agreement, the Restrictive Covenant Agreement and/or the other Transaction Documents (including the rights of the DB Group to carry on the Business (or any part thereof) in any Restricted Territory, save as otherwise
expressly provided in the Regionalization Agreement or the Restrictive Covenant Agreement); and/or 

  
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 (ii) the obligations of Singtel or its Affiliates under this Agreement, the Regionalization
Agreement, the Restrictive Covenant Agreement and/or the other Transaction Documents. 
 For the avoidance of doubt, any expansion or variation of, or
change in (a) the definition of “Business” or (b) the scope of business that is contemplated under any of the Undisclosed Agreement, where such expansion or variation or change will result in the breach or avoidance of
Section 10.14(a), shall be deemed to be a revision or amendment to such Undisclosed Agreement to which this Section 10.14(a) applies, save as otherwise expressly provided in the Regionalization Agreement or the Restrictive Covenant
Agreement. 
 ARTICLE XI 

REPRESENTATIONS AND WARRANTIES. 

Section 11.1. Representations in Respect of Each Party. Each Party represents and warrants to the other Parties as at the date
hereof and the Effective Date as follows: 
 (a) it is a company duly incorporated and validly existing under its laws of incorporation; 

(b) it has full power and authority to enter into and deliver, and perform its obligations under, this Agreement (and the other Transaction
Documents to which it is a party); 
 (c) it has taken all necessary corporate actions to authorize its entry into and delivery of, and
performance of its obligations under, this Agreement (and the other Transaction Documents to which it is a party); 
 (d) save for the IPA
and the DB License, all approvals, authorizations, consents, clearances, orders, registrations, qualifications, actions, conditions and things required to be taken, fulfilled and done in order: 

(i) to enable it lawfully to enter into, exercise its rights and perform and comply with its obligations under this Agreement (and the other
Transaction Documents to which it is a party); and 
 (ii) to ensure that those obligations are valid, legally binding and enforceable,
except as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, receivership, fraudulent transfer or similar laws of general applicability from time to time in effect relating to the rights and remedies of creditors and
general principles of equity; 
 have been taken, fulfilled and done and have been obtained and are in full force and effect; 

(e) its obligations under this Agreement (and the other Transaction Documents to which it is a party) are valid, legally binding and
enforceable obligations, except as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, receivership, fraudulent transfer or similar laws of general applicability from time to time in effect relating to the rights and
remedies of creditors and general principles of equity; 

  
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 (f) the entry into, exercise of the rights or performance of or compliance with its
obligations under this Agreement do not and will not: 
 (i) violate any law, regulation, judgment, order or decree of any court of
competent jurisdiction or governmental body having jurisdiction over it which is binding on it or its assets; 
 (ii) conflict with or
result in a breach of or constitute a default under its constitutive documents; 
 (iii) conflict with or result in a breach of or
constitute a default under any material agreement to which it is a party or which is binding on it or its assets; or 
 (iv) result in the
existence of, or oblige it to create, any security over any of its material assets; 
 (g) no Proceeding is currently taking place or pending
or, to the Knowledge of such Party, threatened against or otherwise likely to involve it or any of its assets which would reasonably be expected to: 

(i) result in the issuance of an order restraining, enjoining or otherwise prohibiting or making illegal the performance by it of its
obligations under this Agreement (and the other Transaction Documents to which it is a party); or 
 (ii) have the effect of delaying,
frustrating or preventing it from performing its obligations under this Agreement (and the other Transaction Documents to which it is a party); and 

(h) except as Disclosed in Exhibit O, it is not bankrupt or insolvent, and there are no bankruptcy, insolvency,
reorganization (other than, in relation to Grab Parent, a bona fide solvent reorganization of Grab Parent in connection with a SPAC Merger), moratorium, receivership, fraudulent transfer or other similar proceedings or actions relating to the rights
and remedies of creditors and general principles of equity currently taking place or pending or, to the Knowledge of such Party, threatened against or otherwise likely to involve it or any of its assets; 

Section 11.2. Representations in Respect of Grab. Grab represents and warrants to Singtel as at the date hereof and the Effective
Date as follows: 
 (a) there is no Loss of Singaporeaness; 

(b) there is no challenge pending, and to Grab’s Knowledge, threatened against the validity and enforceability of any of the voting
proxies executed in AT’s favour authorizing him to exercise, or direct or cause the exercise of, the voting rights attaching to certain outstanding shares in the capital of Grab Parent (the “Voting Proxies”); 

  
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 (c) the provisions regarding lapsing or termination of all Voting Proxies are substantially
the same as those contained in the Voting Proxy executed by Apparate International C.V., a copy of which has been delivered to Singtel as at the date of the Previous Shareholders’ Agreement, and initialed by authorized representatives of Grab
and Singtel for identification; 
 (d) the shares in the capital of Grab Parent that are subject to the Voting Proxies constitute in
aggregate 60% of the voting rights of Grab Parent on the basis of the outstanding, as-converted shares in the capital of Grab Parent; 

(e) no shareholder, member, investor, partner or other constituent holder of Grab Parent (other than AT) Controls Grab Parent; 

(f) AT is a citizen of Singapore and does not hold any dual citizenship in another country; 

(g) Grab has, or has access to, cash or cash equivalent on a “certain funds” basis necessary to make the Prefunded Capital
Contribution and the First Capital Contribution in accordance with the terms and conditions of this Agreement, and to Grab’s Knowledge, it is not aware of any reason that would prohibit or restrict its ability (in whole or in part) to make any
subsequent Capital Contribution in accordance with the Initial Business Plan and the Capital Contribution Schedule; 
 (h) Grab is a direct
wholly-owned Subsidiary of GFG, and an indirect Subsidiary of Grab Parent, and GFG is the intermediate holding company within the Grab Parent Group that Controls the financial services businesses of the Grab Parent Group; 

(i) in relation to the DB Group: 

(i) the DB Group is not bound by, or subject to, any non-compete or other restrictive covenants
prohibiting or restricting it from carrying on the Business (or any part thereof) as contemplated under this Agreement in any Restricted Territory; and 

(ii) save as Disclosed in Exhibit N, none of Grab Parent, GFG or any of their respective Affiliates (other than DB Group) has entered
into any agreement or other arrangement (whether or not in writing) with any Person (other than Singtel and its Affiliates) which imposes an obligation on Grab Parent, GFG or any of their respective Affiliates (other than DB Group) to procure or
otherwise ensure that the DB Group does not carry on the Business (or any part thereof) in any Restricted Territory; 
 (j) the Grab Parent
SHA provides that an amendment or variation of the Grab Parent SHA requires the consent of Grab Parent, AT, SVF Investments (UK) Limited, Uber Technologies, Inc., Marvelous Yarra Limited and Xiaoju Kuaizhi, Inc., subject to certain requisite
thresholds continuing to be met, and such requisite thresholds are and continue to be met. 
 Section 11.3. Representations in
Respect of Singtel. Singtel represents and warrants to Grab as at the date hereof and the Effective Date as follows: 

  
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 (a) Singtel has, or has access to, cash or cash equivalent on a “certain funds”
basis necessary to make the First Capital Contribution in accordance with the terms and conditions of this Agreement, and to Singtel’s Knowledge, it is not aware of any reason that would prohibit or restrict its ability (in whole or in part) to
make any subsequent Capital Contribution in accordance with the Initial Business Plan and the Capital Contribution Schedule; 
 (b) Singtel
is a direct wholly-owned Subsidiary of Singtel FinGroup and an indirect wholly-owned Subsidiary of Singtel Parent; and 
 (c) in relation to
the DB Group, none of Singtel Parent, Singtel FinGroup or any of their respective Affiliates has entered into any agreement or other arrangement (whether or not in writing) with any Person (other than Grab and its Affiliates) which imposes an
obligation on Singtel Parent, Singtel FinGroup or any of their respective Affiliates to procure or otherwise ensure that the DB Group does not carry on the Business (or any part thereof) in any Restricted Territory. 

Section 11.4. No Other Representations or Warranties. Except for the representations, warranties and undertakings made by the
Parties as expressly set forth in this Agreement and the other Transaction Documents, neither the Company, Grab, Singtel nor any of their respective Affiliates or representatives, or any other person acting on their behalf, makes or has made any
other express or implied, statutory or otherwise, representation, warranty or undertaking of any kind or nature in connection with the transactions contemplated hereunder. Neither the Company, Grab, Singtel nor any of their respective Affiliates or
representatives, or any other person acting on their behalf, makes or has made any express or implied, statutory or otherwise, warranty or undertaking with respect to any projections, estimates or budgets provided to Singtel or Grab (as the case may
be) or its respective Affiliates or representatives (howsoever and whensoever provided) of future revenues, future results of operations (or any component thereof), future cash flows or future financial condition (or any component thereof) of:
(i) the Company or any of its Affiliates or (ii) the future business and operations of the Company or any of its Affiliates. Neither any Party nor its Affiliates or representatives has relied on and is not relying on any representations or
warranties regarding the Company, Grab, Singtel or any of their respective Affiliates or the respective businesses of the foregoing, other than those representations and warranties expressly set forth in this Agreement and the other Transaction
Documents. 
 Section 11.5. No Claims Against Directors, Officers and Employees. Save in the case of fraud, each Party
undertakes to and with the other Parties not to make or pursue any claim against any directors, officers or employees of a Party in connection with such directors, officers or employees assisting such Party in giving the representations and
warranties under this Article XI. 
 ARTICLE XII 

IPO; GFG LIQUIDITY EVENTS 

Section 12.1. IPO of the Company; “Market
Stand-Off” Agreement. 
 (a) From and after the third (3rd) anniversary of the
Launch Date and subject to prevailing market conditions, the Board may appoint financial advisers to assess the viability of an IPO of the Company at a valuation approved by the Board as a Board Reserved Matter that is in line with publicly traded
comparable companies on the stock exchange on which the Board contemplates to consummate an IPO. 

  
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 (b) If: 

(i) an IPO valuation is approved by the Board as a Board Reserved Matter; and 

(ii) the consummation of the IPO is approved as a Shareholders’ Reserved Matter, (an “Approved IPO”), the Parties shall
use commercially reasonable efforts to cooperate with each other and their respective advisors in order to consummate the Approved IPO, including by executing and delivering all documents and instruments reasonably requested by the Company for
purposes of effecting the Approved IPO (such as underwriting agreements with the underwriters selected by the Board), provided that, except for the agreements relating to the Stand-Off Provisions, no
Shareholder shall be obliged to undertake any liability in relation to or in connection with the Approved IPO. 
 (c) Each Shareholder hereby
agrees that if and to the extent required by the lead underwriter of securities of the Company in connection with an Approved IPO or registration relating to a specific proposed public offering (approved as contemplated in Section 12.1(b)
above), he, she or it will agree to such undertakings in relation to the retention or disposal or manner of disposal of their Shares in accordance with the then current market practice as reasonably required by the said lead underwriter (“Stand-Off Provisions”), provided, that any lock-up and/or standstill required of each Shareholder is no longer than one hundred eighty (180) calendar
days). 
 (d) The Stand-Off Provisions shall apply only to an Approved IPO, and shall not apply to
(i) a sale of any equity securities to an underwriter pursuant to an underwriting agreement or otherwise to an underwriter in the Approved IPO, (ii) any equity securities purchased by any Shareholder on the open market following the
Approved IPO or (iii) any Transfer that would be a Transfer to a Permitted Transferee under this Agreement. 
 (e) The Company shall use
commercially reasonable efforts to obtain similar agreements to the Stand-Off Provisions from all officers, managers, directors of the Company, all Shareholders holding more than one per cent (1%) of the
Shares on a fully diluted basis and all holders of Class B Ordinary Shares (who are not bound by the terms of this Agreement) holding Shares representing, or options exercisable for, more than one per cent (1%) of the Shares on a fully diluted
basis. 
 (f) Each Shareholder further agrees to execute such agreements relating to the Stand-Off
Provisions as may be reasonably requested by the underwriters in the Approved IPO that are consistent with Sections 12.1(c) and 12.1(d) or that are necessary to give further effect thereunder, provided, that any such agreements shall expire
no later than ninety (90) calendar days after execution by the Shareholder if no underwritten Approved IPO has occurred by the date of such execution. Any discretionary waiver or termination of the restrictions of any or all of such agreements
by the underwriters shall apply to all Shareholders subject to such agreements pro rata based on the number of equity securities subject to such agreements. 

  
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 (g) In order to enforce the covenants and agreements under this Section 12.1, the
Company may, to the maximum extent permitted by applicable Law, impose stop-transfer instructions with respect to the Shares of each Shareholder (and the shares or securities of every other Person subject to the foregoing restriction) until the end
of such up to one hundred eighty (180) calendar days’ period referred to in Section 12.1(c). 
 Section 12.2. GFG
Public Offering. 
 (a) Grab shall procure that GFG does not consummate an initial public offering of the GFG Shares or other equity
securities into which the GFG Shares may have been converted or for which they may have been exchanged, whether such offering is a primary offering (whether underwritten or in conjunction with a direct listing), secondary offering (whether
underwritten or in conjunction with a direct listing) or a combination thereof, and whether or not in conjunction with a listing of GFG on any stock exchange (“GFG Public Offering”), between the date of the Previous
Shareholders’ Agreement and December 31, 2024 (the first day after the period during which Grab shall procure that GFG does not consummate a GFG Public Offering, the “GFG Public Offering Date”). 

(b) In the event that GFG contemplates effecting a GFG Public Offering prior to an IPO of the Company, Grab shall notify Singtel at least six
(6) months prior to the consummation of the GFG Public Offering (the “GFG IPO Notice”). Such notice shall include an estimated process timeline for the GFG Public Offering (including when the Institutional Investors
Book-Building Exercise is expected to commence) and, if then available, the latest draft of the prospectus or offering memorandum relating to the GFG Public Offering sent to all underwriters. 

(c) Grab shall also provide Singtel with: 

(i) the first and the final draft of the prospectus or offering memorandum relating to the GFG Public Offering sent to all underwriters as
well as incremental drafts sent to all underwriters but only if there are substantial and material changes in respect of the said incremental drafts, and not more often than once a week; 

(ii) a price range for the GFG Public Offering price per share that will be used by the underwriter(s) and/or issue manager(s) as the basis
for the book-building exercise with potential investors in GFG (including (where differing) the price range for the GFG Public Offering price per share that will be used as the basis for the Institutional Investors Book-Building Exercise), it being
understood that any such price range is preliminary and indicative and subject to change; 
 (iii) an updated estimated process timeline, as
and when such timeline is revised or altered (but in no event should such update be more often than once a week); and 
 (iv) a valuation
report by an independent third party valuer, valuing the business of DB Group and the price per Share (it being understood and agreed that such valuer can be the (lead) underwriter in the GFG Public Offering. 

  
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 (d) Notwithstanding anything to the contrary contained in this Agreement, Grab agrees that
the spirit and intent of Sections 12.2 to 12.6 is to afford Singtel the option to potentially monetize its investment in the DB Group (by exercising its Swap Option 1 or Swap Option 2, or by way of the Exchange Agreement) in the event that GFG
effects a GFG Public Offering prior to an IPO of the Company. Accordingly, the spirit and intent of Sections 12.2 to 12.6 shall not be capable of being avoided by GFG effecting or participating in a merger or combination with a special purpose
acquisition company (“SPAC”) or similar “backdoor” listing, resulting in all or materially all of the businesses, undertakings and assets of GFG Group being acquired by the SPAC or other Person, where the consideration
thereof comprises or includes shares or other equity securities (or units thereof) in the SPAC or other Person (“SPAC Units”) which is listed on a stock exchange (“SPAC IPO”). In such event, Grab agrees that the
provisions of Sections 12.2 to 12.6 shall, where applicable, apply mutatis mutandis to the SPAC IPO and GFG shall cause the SPAC to allow Singtel to participate in the SPAC IPO as if it was the GFG Public Offering, it being
expressly agreed that: 
 (i) in the case of Swap Option 1 and Swap Option 2, Singtel would in such event have the right to exchange all
(but not a portion) of its Shares for shares of the same class of SPAC Units issued or to be issued pursuant to the SPAC IPO, or in the case where there are multiple classes of SPAC Units that are listed or to be listed on the said stock exchange,
SPAC Units of the same class as those SPAC Units held directly or indirectly by Grab Parent (unless otherwise agreed by Singtel), and all references in Sections 12.2 to 12.6 to “GFG”, “GFG Shares”, “GFG Public
Offering” shall be construed to mean “SPAC”, “SPAC Units” and “SPAC IPO”, respectively; and 
 (ii) the
valuation of the SPAC Units shall be as ascribed under the agreement effecting the said merger or combination. If the valuation of the SPAC Units is denominated in a currency other than Singapore Dollars, the exchange rate to be used to convert into
Singapore Dollars shall be the average of the daily rates published on https://secure.mas.gov.sg/msb/ExchangeRates.aspx in the last 5 days, excluding the day when Swap Option 1 or Swap Option 2 is consummated. 

Section 12.3. Swap Option 1. 

(a) If the listing date of the GFG Public Offering as set out in the estimated process timeline provided by Grab to Singtel in the GFG IPO
Notice is within the first three (3) years after the GFG Public Offering Date: 
 (i) Singtel shall, for such time as the Singtel
Threshold is met, have the right to transfer all (but not a portion) of its Shares to GFG in exchange for the same class of new ordinary shares to be issued by GFG pursuant to the GFG Public Offering, or in the case where there are multiple classes
of shares that to be listed on the relevant stock exchange pursuant to the GFG Public Offering, shares of the same class as those shares held directly or indirectly by Grab Parent (unless otherwise agreed by Singtel) (“GFG Shares”)
and substantially simultaneous with the consummation of the GFG Public Offering (the “Swap Option 1”), subject to Section 12.6; and 

(ii) Singtel may exercise such right by: 

  
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	 	(I)	 notifying GFG within one (1) month of receipt of the GFG IPO Notice of its intention to exercise the Swap
Option 1; and 

  

	 	(II)	 subject to Section 12.3(b), notifying GFG (the “Singtel Notice”) of Singtel’s final
and binding commitment to consummate the transactions contemplated in the Singtel Notice, subject to Singtel (and/or its Affiliates) having obtained any Mandatory Consents prior to the expiration of the Singtel Exercise Deadline (it being understood
and agreed that the Swap Option 1 shall otherwise lapse and not be exercisable). 

 (b) The Singtel Notice shall specify
whether Singtel commits to consummating the Swap Option 1 or the applicable alternative set forth in Section 12.6, and be sent by Singtel to GFG no later than the date falling seven (7) calendar days or, if the underwriter(s) and/or the
issuer manager(s) in good faith articulate good commercial reasons (it being understood and agreed that market conditions shall be good commercial reasons, and additional time needed to finalize disclosure in the prospectus, offering memorandum or
other transaction document shall not be good commercial reasons), up to ten (10) calendar days, prior to: 
 (i) the expected
commencement date of any book-building exercise by the underwriter(s) and/or the issuer manager(s) with potential institutional investors in GFG, as set out in the GFG IPO Notice or (as the case may be) the latest estimated process timeline sent by
Grab pursuant to Section 12.2(c)(iii) (the “Institutional Investors Book-Building Exercise”); 
 (ii) such later date
as Grab may notify Singtel in writing; or 
 (iii) in the event of a direct listing without underwriting process, such date as reasonably
selected by GFG and notified by Grab to Singtel (provided, that such date shall not be earlier than the date falling twenty (20) calendar days prior to the listing date of the GFG Public Offering). 

(the deadline in subclause (i) being the “Singtel Exercise Deadline,” unless subclause (ii) or (iii) applies in which case the
Singtel Exercise Deadline shall be such other date). 
 Section 12.4. Swap Option 2. If the listing date of the GFG
Public Offering as set out in the estimated process timeline provided by Grab to Singtel in the GFG IPO Notice is after the third (3rd) anniversary of the GFG Public Offering Date, Singtel shall, for such time as the Singtel Threshold is met, have
the right to transfer all (but not a portion) of its Shares to GFG in exchange for new GFG Shares, substantially simultaneous with the consummation of the GFG Public Offering, subject to Section 12.6 (the “Swap Option 2”). The
exercise by Singtel of the Swap Option 2 shall be governed by Sections 12.3(a)(ii) and 12.3(b), applied mutatis mutandis, provided that, all references in those Sections to “Swap Option 1” shall be deemed to be
references to “Swap Option 2”. 

  
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 Section 12.5. Valuation; Regulatory Approvals; Implementation of the Swap; Post-Swap
Effectiveness. 
 (a) The valuation of the Shares for the Swap Option 1 shall be the higher of: 

(i) the Fair Market Value of the Shares as of the date of the Singtel Notice, provided, that, for purposes of this
Section 12.5(a)(i) and Section 12.5(b), the Fair Market Value shall be determined by three (3) internationally recognized, independent accounting firms or investment banks, which shall be deemed independent if they have not audited
the consolidated financial statements of, or performed advisory services for, any of Grab Parent or Singtel Parent in respect of any of their last three (3) financial years, one to be appointed by Singtel (“Singtel Valuer”),
one to be appointed by Grab (“GFG Valuer”) and one to be appointed jointly by the Singtel Valuer and by the GFG Valuer (the “Joint Valuer”), and shall be calculated as follows: 

Fair Market Value of Shares = {[(S + G) / 2] + J} / 2 

Where: 
 S = the valuation
determined by the Singtel Valuer 
 G = the valuation determined by the GFG Valuer 

J = the valuation determined by the Joint Valuer 

In determining the Fair Market Value of the Shares, the valuers shall be directed to make the following assumptions: 

 

	 	(I)	 that such Shares are the subject of an arm’s length transaction between a willing seller and a willing
buyer, and without either Party being under any compulsion to buy or sell; 

  

	 	(II)	 that if the Company shall at the time of such determination be carrying on business as a going concern, it
would continue to do so, taking into account tax losses (if any); and 

  

	 	(III)	 that such Shares are capable of transfer without restriction, and disregarding whether such Shares represent a
minority interest of the outstanding Shares; and 

 (ii) the product of a six point five per cent (6.5%) compounded annual
return on the amount of Capital Contributions made by Singtel until the date of consummation of Swap Option 1, adjusted for any dividends, distributions or return of capital. Grab and Singtel shall equally split the fees of the Singtel Valuer, the
GFG Valuer and the Joint Valuer. 
 (b) The valuation of the Shares for the Swap Option 2 shall be the Fair Market Value of the Shares
determined in accordance with Section 12.5(a)(i). Grab and Singtel shall equally split the fees of the Singtel Valuer, the GFG Valuer and the Joint Valuer. 

  
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 (c) To determine the exchange rate for both the Swap Option 1 and the Swap Option 2, the
valuation of the GFG Shares will be the price per share at which GFG will consummate the GFG Public Offering. If the GFG Share price is denominated in a currency other than Singapore Dollars, the exchange rate to be used to convert into Singapore
Dollars shall be the average of the daily rates published on https://secure.mas.gov.sg/msb/ExchangeRates.aspx in the last 5 days, excluding the day when Swap Option 1 or Swap Option 2 is consummated. 

(d) To enable Singtel to consummate the Swap Option 1 or the Swap Option 2, as applicable: 

(i) Grab shall use commercially reasonable efforts to assist Singtel (and/or its Affiliates) to obtain any Mandatory Consent to the Swap
Option 1 or Swap Option 2, as applicable, and Singtel shall provide necessary reasonable assistance to Grab; 
 (ii) each of Grab and
Singtel shall use its respective best endeavours to obtain a release of Singtel (and its Affiliates) from the Singtel MAS Undertakings; provided, that neither Grab nor Singtel shall be required to accept restrictions or conditions imposed by
the MAS for the said release, that would reasonably be expected to have a material adverse effect on the business or operations of (x) (in the case of Grab), the Grab Parent Group (taken as a whole) or the DB Group (taken as a whole) and (y) (in the
case of Singtel), Singtel Parent Group (taken as a whole); 
 (iii) Grab shall obtain (unless previously obtained) any required corporate
approvals of GFG and Grab Parent to authorize the consummation of the Swap Option 1 or the Swap Option 2, as applicable; and 
 (iv) Grab
shall take all other reasonable steps within its power and control to enable Singtel to effect the Swap Option 1 or the Swap Option 2, as applicable, no later than simultaneously with the consummation of the GFG Public Offering (it being understood
and agreed that, without prejudice to Section 12.6 and the Exchange Agreement (if applicable)), after the consummation of the GFG Public Offering, GFG shall be under no obligation to thereafter consummate any of the transactions contemplated
with respect to the Swap Option 1 and Swap Option 2, except to the extent that such non-consummation of the transactions contemplated with respect to the Swap Option 1 and Swap Option 2 arises as a result of a
breach by Grab (or GFG) of their obligations contemplated by this Section 12.5 and Section 12.6 that has not been remedied within thirty calendar days upon such breach). 

(e) Substantially simultaneously with the consummation of the GFG Public Offering: 

(i) Singtel shall, subject to compliance by Grab with its obligations under Section 12.5(e)(ii) below, execute and deliver to Grab
(acting on behalf of GFG), (x) instrument(s) of transfer and the relative share certificate(s) in respect of the Shares which are the subject of the Swap Option 1 or the Swap Option 2, as applicable, (y) customary securities laws
representations and warranties in relation to the private placement of the GFG Shares, and (z) such undertakings as may be agreed by Singtel in relation to the retention or disposal or manner of disposal of GFG Shares held by Singtel in
accordance with the then current market practice as reasonably required by the lead underwriter of securities of GFG from all investors who will be owning similar shareholding percentage of GFG Shares immediately after the GFG Public Offering; and

  
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 (ii) Grab shall, subject to compliance by Singtel with its obligations under
Section 12.5(e)(i) above, procure and ensure that GFG shall allot and issue the applicable number of new GFG Shares to Singtel, credited as fully paid and free from all Encumbrances (other than those arising under the constitutional documents
of GFG or applicable securities Laws), together with all rights, benefits and privileges attached thereto, and update its register of members accordingly. Such new GFG Shares shall, upon issue, rank pari passu in all respects with the other
shares of the same class in the capital of GFG then in issue and shall be listed and freely tradeable on the relevant stock exchange where the GFG Public Offering is made, subject to applicable securities Laws. 

(f) Upon the registration of the transfer by Singtel of the entirety of the Shares in the name of GFG by the Company in the Company’s
electronic register of members, and the allotment and issuance of the applicable number of new GFG Shares to Singtel (the “Swap Effectiveness”), all rights, benefits and privileges attaching to the Shares so transferred (the record
date of which falls after the date of such transfer) shall vest in GFG, save as otherwise expressly provided in Section 12.5(g) below. It is understood and agreed that GFG shall bear sixty per cent (60%) and Singtel shall bear forty per cent
(40%) of (i) the aggregate stamp duty payable on the transfer of the Shares which are the subject of the Swap Option 1 or the Swap Option 2 (as applicable), and (ii) all tax, levy or duty in respect of the allotment and issuance of new GFG
Shares. 
 (g) Upon the transfer by Singtel of the entirety of the Shares pursuant to the Swap, each Shareholder (other than Singtel) and the
Company hereby acknowledges, agrees and undertakes to and with Singtel (and each Shareholder (other than Singtel) agrees to use its commercially reasonable endeavours (including the exercise of its voting rights in the Company, to the extent
applicable) to ensure that the Company complies with this Section 12.5(g) below) that, notwithstanding any provision to the contrary in this Agreement or the Constitution: 

 

	 	(I)	 Singtel shall continue to be entitled to all its rights, preferences and privileges under this Agreement
(including under Article V, Article VI and Section 8.5), as if it continues to be a Shareholder, meets the Singtel Threshold and is not a Non-Contributing Shareholder, notwithstanding any provision to the
contrary in this Agreement or the Constitution; 

  

	 	(II)	 any Board Reserved Matters will not be passed, effected or implemented by the Company or any of its Key
Subsidiaries, without the affirmative vote of the Singtel Director; and 

  

	 	(III)	 any Shareholders’ Reserved Matters will not be passed, effected or implemented by the Company or any of
its Key Subsidiaries, without the prior written consent of Singtel, 

  
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 until the earlier of (I) the date Singtel (and its Affiliates) ceases to be bound by
any Singtel MAS Undertakings and (II) the date Singtel Transfers forty per cent. (40%) or more of the aggregate number of GFG Shares that Singtel receives in connection with and immediately after the consummation of the Swap Option 1 or Swap
Option 2, as applicable, as adjusted for share splits, share combinations and similar transactions (such period, the “Singtel MAS Undertakings Period”). 

The parties acknowledge and agree that, for the purpose of this Section 12.5(g), Singtel shall be entitled to such rights as contemplated in this
Section 12.5(g) in its sole discretion to enable Singtel (and/or its Affiliates) to continue to comply with any of the Singtel MAS Undertakings that continue to apply upon the transfer of the entirety of its Shares pursuant to the Swap. 

(h) Singtel acknowledges, agrees and undertakes to and with the other Shareholder(s), that during the Singtel MAS Undertakings Period, to the
extent that Singtel is entitled to the rights, preferences and privileges under this Agreement pursuant to Section 12.5(g), it will be bound by, and subject to, the obligations under this Agreement, except, in the event that Singtel is no
longer a shareholder or member of the Company, for those obligations under this Agreement which relate to, or are connected with, a Person being a shareholder or member of the Company (including, the obligation of Singtel under this Agreement
(i) to make any further Capital Contributions, (ii) to use its commercially reasonable efforts (including the exercise of voting rights in the Company) to procure or ensure that the Company or DB Group effects or refrains from taking any
action in relation to certain matters under this Agreement and (iii) to abide by the Transfer restrictions or other provisions in Article VIII). 

(i) It is further agreed that in the event Swap Option 1 or Swap Option 2 is consummated in full (i.e., Singtel ceases to hold any Shares
following the consummation of the Swap): 
 (i) the Regionalization Agreement will provide that, inter alia, the rights and
obligations of the parties thereto will terminate immediately upon the Swap Effectiveness (except for certain provisions that are expressed to survive the termination of the Regionalization Agreement as may be specified therein); and 

(ii) the Restrictive Covenant Agreement will provide as follows: 
  

	 	(I)	 that, in the event of the Swap Effectiveness, (A) the rights and obligations of Grab thereunder will
terminate immediately upon the expiry of the Singtel MAS Undertakings Period; and (B) the rights and obligations of Singtel thereunder will terminate immediately after one year of the expiry of the Singtel MAS Undertakings Period, in each case,
except for certain provisions that are expressed to survive the termination of the Restrictive Covenant Agreement as may be specified therein; and 

  

	 	(II)	 that, in the event of the Swap Effectiveness, the Restricted Territories to which the restrictions and
prohibitions under the Restrictive Covenant Agreement apply, will be limited to the Relevant Restricted Territories prior to the Swap Effectiveness (and not any other Relevant Restricted Territories after the Swap Effectiveness).

  
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 Section 12.6. Regulatory Restrictions. In the event that, as a result of the
Legal Reasons, Singtel is prevented (in full or in part) from consummating the Swap Option 1 or the Swap Option 2 and hence retains all or a portion of the Shares, as the case may be, in accordance with Section 12.3 or Section 12.4,
including that the approval of the MAS is not forthcoming by the Singtel Exercise Deadline, Singtel may elect in its sole discretion: 
 (a)
not to effect the Swap Option 1 or the Swap Option 2, as the case may be, and retain all of its Shares in the Company, as applicable, provided that, in such case, Singtel shall be deemed to have unconditionally and irrevocably waived its
right to exercise any of the Swap Option 1 or the Swap Option 2; or 
 (b) with respect to the Shares that Singtel is: 

(i) (if applicable) permitted to Swap (e.g., in respect of which MAS has approved the Swap) (the “Permitted Swap Shares”), to
effect the Swap Option 1 or the Swap Option 2, as the case may be, only in respect to the Permitted Swap Shares in the Company; and/or 

(ii) not permitted to Swap (“Non-Permitted Swap Shares”), to transfer all economic
benefits accruing to Singtel as holder on record of all the Non-Permitted Swap Shares in the Company held by it to GFG (or Grab), on and subject to the terms and conditions set out in the Exchange Agreement,
in exchange for GFG Shares substantially simultaneous with the consummation of the GFG Public Offering, at the same valuation prescribed for Swap Option 1 or Swap Option 2, as the case may be, provided that, in such event, then,
notwithstanding anything to the contrary in this Agreement or the Constitution: 
  

	 	(I)	 the provisions of Section 12.5(d), (e) and (f) shall apply mutatis mutandis in respect of the
Permitted Swap Shares; 

  

	 	(II)	 the provisions of Section 12.5(g) shall apply mutatis mutandis (except that where
Section 12.5(g) refers to the words “the entirety of the Shares”, that reference shall be replaced with the words “a portion of the Shares”). For the avoidance of doubt, the Parties acknowledge and agree that the Shares that
Singtel is not permitted to Swap may represent all the Shares held by Singtel as at the relevant time; and 

  

	 	(III)	 Grab shall assume (x) any further Capital Contribution obligations of Singtel under this Agreement and
(y) such other obligations of Singtel under this Agreement and the other Transaction Documents as may be set out in the Exchange Agreement; or 

  
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 (c) with respect to: 

(i) the Permitted Swap Shares, to effect in part the Swap Option 1 or the Swap Option 2, as the case may be, only in respect to the Permitted
Swap Shares; and 
 (ii) the Non-Permitted Swap Shares, to retain the
Non-Permitted Swap Shares, provided, that in such case, Singtel shall be deemed to have unconditionally and irrevocably waived its right to exercise any of the Swap Option 1 or the Swap Option 2 with
respect to such Non-Permitted Swap Shares, and provided further that, in such event, then, notwithstanding anything to the contrary in this Agreement or the Constitution: 

 

	 	(I)	 the provisions of Section 12.5(d), (e) and (f) shall apply mutatis mutandis in respect of the
Permitted Swap Shares; 

  

	 	(II)	 if Singtel ceases to meet the Singtel Threshold immediately following consummation of the Swap Option 1 or Swap
Option 2 in respect of the Permitted Swap Shares, the provisions of Section 12.5(g) shall apply mutatis mutandis (except that where Section 12.5(g) refers to the words “the entirety of the Shares”, that reference
shall be replaced with the words “a portion of the Shares”); and 

  

	 	(III)	 for the avoidance of doubt, (1) if Singtel meets the Singtel Threshold immediately following such
consummation, Singtel shall continue to be entitled to all its rights, preferences and privileges under this Agreement as a Shareholder; and (2) Singtel’s obligations to make any further Capital Contributions under this Agreement shall be
proportionately reduced to that which relates only to the Non-Permitted Swap Shares still held by it. 

Section 12.7. Accelerated GFG Swap-Up Discussions. For a period of 6 months from the
Effective Date, Singtel shall have the right to initiate discussions with GFG to swap its Shares for a stake in GFG based on GFG’s Series A Valuation. Following the exercise by Singtel of such right and subject to appropriate confidentiality
agreements being executed, GFG shall provide Singtel with access to the same or substantially the same due diligence materials that have been, or are being, provided by GFG to its investor(s) or prospective investor(s) investing into GFG. For the
purpose of this Section 12.7, “GFG’s Series A Valuation” means the valuation attributed to GFG by the lead investor in GFG’s Series A round of funding or the most favourable valuation offered by GFG to
any of the Series A investors. 
 Section 12.8. New HoldCo Public Offering. 

(a) In the event that Singtel and Grab effect any Regional Participation Opportunity through New JVCo (as defined in the Regionalization
Agreement) as opposed to through the Company or its Subsidiaries, then Singtel and Grab shall use commercially reasonable efforts, subject to applicable Laws, to restructure their respective equity interests in the Company and in the New JVCo, such
that their respective equity interests in the Company and in New JVCo are held by a newly incorporated holding company which shall, in turn, be held by Singtel, Grab and any other Shareholders at such time (the “New HoldCo,” and
such restructuring, the “HoldCo Restructuring”). Following the completion of any HoldCo Restructuring, all references in this Agreement to the Company’s IPO shall instead be references to a public offering and listing of the
shares of New HoldCo (the “New HoldCo Public Offering”), applied mutatis mutandis. The valuation in relation to such restructuring shall be performed by an FMV Valuer in accordance with the provisions to be
reflected in the Regionalization Agreement to be applied mutatis mutandis. 

  
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 (b) In the event of a HoldCo Restructuring approved by Grab and Singtel, each Shareholder
agrees to execute and deliver a new shareholders agreement that is, mutatis mutandis, the same as this Agreement. 
 ARTICLE
XIII 
 EVENTS OF DEFAULT 

Section 13.1. Events of Default. Any of the following events shall constitute an event of default (“Event of
Default”) by a Shareholder (the “Defaulting Shareholder”, and all other Shareholders that are not subject to an Event of Default, the “Non-Defaulting Shareholders”):

 (a) if any Shareholder (or any of its Affiliates other than DB Group) undertakes any action, or if any matter occurs in relation to a
Shareholder (or any of its Affiliates other than DB Group) or their respective directors, including a breach of Section 8.2, which results in: 

(i) a breach of, or non-compliance with, any condition imposed in the IPA, DB License or any other
Material License that results in, or will result in, the revocation of licence, cessation of, or material restriction on, the business of the Company or the DB Group; or 

(ii) MAS or the relevant Minister (as applicable) taking any action available under (x) Part IVB of the Monetary Authority of Singapore
Act, (y) under Sections 49 to 53 of the Banking Act or (z) under Section 20 of the Banking Act that results in, or will result in, the revocation of licence, cessation of, or material restriction on, the business of the Company or the
DB Group; 
 (b) if: 
 (i) any
Shareholder is (I) adjudicated insolvent in a final and binding decision by a competent Government Authority or (I) it is dissolved or liquidated; or 

(ii) any Shareholder suffers any of the following events: 
  

	 	(I)	 a court of competent jurisdiction makes an order, or a resolution is validly and effectively passed, for the
winding up, dissolution or judicial management or administration of such Shareholder; 

  

	 	(II)	 any attachment, sequestration, distress, execution or other legal process is levied, enforced or instituted
against the material assets of such Shareholder and the same is not stayed, discharged, released or satisfied (as the case may be) within 60 days of such levy, enforcement or institution (as the case may be); 

  
 99 

	 	(III)	 a liquidator, judicial manager, receiver, administrator, trustee-in-bankruptcy, custodian or other similar officer has been appointed (or a petition for the appointment of such officer has been presented) in respect of any of the material assets of such Shareholder
and the same is not stayed, discharged, released or satisfied (as the case may be) within 60 days of such appointment or presentation of petition (as the case may be); or 

 

	 	(IV)	 any event occurs, which under the laws of any relevant jurisdiction has an analogous or equivalent effect to
any of the events mentioned in paragraphs (I) to (III) above; 

 (c) if any Shareholder fails to fund its Outstanding
Contribution by the Capital Contribution Grace Period, save as expressly provided otherwise in this Agreement, including in Section 12.6(c)(ii)(III); 

(d) in the case of Grab, Singtel or any other Shareholder (from time to time), if such Shareholder (or any of its Affiliates other than DB
Group) breaches the Grab MAS Undertakings, the Singtel MAS Undertakings or other MAS Undertakings, respectively, which, results in any regulatory or other enforcement action, which if capable of remedy, is not remedied to the reasonable satisfaction
of (I) the MAS and (II) (if the remediation steps or other arrangements (directly or indirectly) results in, or causes, either the DB Group or the Non-Defaulting Shareholder to suffer or incur out-of-pocket costs and expenses exceeding S$5 million in the aggregate) the Non-Defaulting Shareholder, within or by the earlier
of (x) 30 days of receipt by the Defaulting Shareholder of written notice to remedy the same by any Non-Defaulting Shareholder or (y) such other timeline as may be specified by MAS to the Defaulting
Shareholder; 
 (e) if any Shareholder (other than Grab or Singtel) permits or suffers a Change of Control; 

(f) if Grab permits or suffers a Change of Control prior to the GFG Public Offering Date; provided, that a change of Control in respect
of Grab Parent shall not be a Change of Control permitted or suffered by Grab; 
 (g) if Singtel permits or suffers a Change of Control prior
to the GFG Public Offering Date; 
 (h) if any Shareholder Transfers any of the Shares held by it, except to its Permitted Transferee in
accordance with Section 8.6 or as otherwise expressly required by this Agreement (including under Sections 8.5, 12.3, 12.4 and 12.8), prior to the Full-Functioning Status Date; 

(i) if GFG consummates the GFG Public Offering (or, as the case may be, otherwise effects or participates in a SPAC IPO) before the GFG Public
Offering Date; and 

  
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 (j) if GFG fails to effect the Swap Option 1 or the Swap Option 2, as applicable, by the
consummation of the GFG Public Offering (or, as the case may be, the SPAC IPO) in breach of Sections 12.2 to 12.6). 

Section 13.2. Remedies. Without prejudice to any other remedies available to the Company or the
Non-Defaulting Shareholders (including the right to claim damages), as applicable, the following shall apply: 

(a) upon the occurrence of any Indemnified Event of Default or any Non-Indemnified Event of Default:

 (i) the rights of the Defaulting Shareholder under this Agreement and the Constitution shall be immediately and automatically suspended
during such time as the Event of Default is continuing; 
 (ii) any non-Independent Director
appointed by the Defaulting Shareholder shall immediately resign and the Defaulting Shareholder shall (x) obtain an acknowledgment signed by such non-Independent Director(s) to the effect that he or she
has no claim against the Company for compensation for loss of office, redundancy or unfair dismissal or otherwise, howsoever arising or (y) in the event such non-Independent Director(s) is or are removed
without cause or reasonable cause and such non-Independent Director(s) seek claim against the Company for compensation for loss of office, redundancy or unfair dismissal or otherwise, howsoever arising,
indemnify the Company for any such claims by such non-Independent Director(s); 
 (b) upon the
occurrence of any Indemnified Event of Default, Section 10.7 shall apply (in addition to the provisions in Section 13.2(a)); and 

(c) upon the occurrence of any Non-Indemnified Event of Default, the
Non-Defaulting Shareholder(s) that are Singtel and/or Grab only, shall have the Default Put Option and Default Call Option rights set out in Exhibit G (in addition to the provisions in
Section 13.2(a)). 
 ARTICLE XIV 

MISCELLANEOUS 

Section 14.1. Termination. Subject to the last paragraph of this Section 14.1, this Agreement shall terminate only: 

(a) by virtue of a written agreement to that effect, signed by Grab and Singtel and on the date specified in the relevant agreement; 

(b) by notice given by: 
 (i)
Grab or Singtel to the other Parties if the Conditions Precedent set forth in Sections 2.1(a) and 2.2(a) is not satisfied on or before the Outside Date; 

  
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 (ii) Singtel to Grab if any of the Conditions Precedent set forth in Sections 2.2(b) to
(i) is not satisfied (or waived in writing by Singtel pursuant to Section 2.4(a)) on or before the Outside Date; 
 (iii) Grab to
Singtel if any of the Conditions Precedent set forth in Sections 2.1(b) to (f) is not satisfied (or waived in writing by Grab pursuant to Section 2.4(a)) on or before the Outside Date; 

provided, that, in each case provided for in Section 14.1(b), neither Grab nor Singtel may rely on the failure of any of the Conditions Precedent
to be satisfied if the primary cause of such failure was the non-compliance by such Party with its obligations under this Agreement; 

(c) automatically upon the closing of any Approved IPO, provided, that, Section 12.1(c) shall also survive any termination of this
Agreement under this Section 14.1(c); 
 (d) by notice given by either Grab or Singtel to the respective other Parties, if after the
grant of the IPA, MAS either (i) notifies any Party that it will not grant the DB License or (ii) fails to grant the DB License, in each case, no later than 31 March 2022 (or such later date as Grab and Singtel may mutually agree in
writing); 
 (e) (x) with respect to any Shareholder (other than Singtel), automatically upon completion of the Transfer by that Shareholder
of all of its Shares in accordance with the terms of this Agreement and (y) with respect to Singtel, automatically upon completion of the Transfer by Singtel of all of its Shares in accordance with the terms of this Agreement (unless
Sections 12.5(g) and/or (h) applies, and in such event, this Agreement shall terminate with respect to Singtel on the date Sections 12.5(g) and/or (h) (as the case may be) cease to apply), provided that: 

(i) the Shareholder shall remain bound by Section 8.6 (if applicable) and the Surviving Provisions; and 

(ii) if following such Transfer, there remain two or more Shareholders bound by the provisions of this Agreement (in addition to the Surviving
Provisions), this Agreement shall continue in full force and effect as between such remaining Shareholders and the Company. 
 The right of any Party
(A) to bring any claim arising from antecedent breaches or (B) to claim indemnification under this Agreement (including under Section 8.5(b)(ii) and Section 10.7), in each case, that occurred prior to such termination and/or
under the Surviving Provisions shall survive any such termination. 
 Section 14.2. Notices. 

(a) All notices, requests, claims, demands and other communications hereunder shall be in writing and shall be given by delivery in person, by
electronic transmission (including email), by internationally recognized overnight courier service (such as Federal Express or DHL) or by registered or certified mail (postage prepaid, return receipt requested) to the respective Parties at the
addresses set forth below (or at such other address for a Party as shall be specified by notice given in accordance with Section 14.2(b)). Any such notice, request, claim, demand or other communication shall be deemed to have been duly given as
of the date so delivered or transmitted if delivered in person or by electronic transmission (or, if delivered or transmitted outside of regular business hours at the location of the recipient, on the next Business Day), or on the next Business Day
if sent by overnight courier service, or five (5) calendar days after the mailing date if sent by registered or certified mail. 

  
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 If to the Company: 

GXS Bank Pte. Ltd. 
 6 Battery
Road 
 #38-04 

Singapore 049909 
 Attention:
Head Legal Counsel, SG Digibank 
 Email: Digibanklegal@grab.com 

with a copy (which shall not constitute notice) to: 

Grab Holdings Inc. 
 c/o
International Corporation Services Ltd. 
 Harbour Place, 2nd Floor 

103 South Church Street 
 PO Box
472 
 George Town 
 Grand
Cayman, KY1-1106 
 Cayman Islands 

Attention: Corporate Finance / Legal 

Email: corporate.finance@grabtaxi.com 

and with a copy (which shall not constitute notice) to: 

Hughes Hubbard & Reed LLP 

One Battery Park Plaza 
 New
York, NY 10004-1482 
 Attention: Kenneth A. Lefkowitz 

Email: ken.lefkowitz@hugheshubbard.com 

If to a Shareholder, Grab Parent, Singtel Parent, GFG and Singtel FinGroup: 

To the address or email address set forth opposite such Person’s name on Schedule I hereto. 

(b) A Party may change or supplement the addresses given above, or designate additional addresses, for the purposes of this
Section 14.2(b), by giving the other Parties written notice of the new address in the manner set forth above. 
 Section 14.3.
No Partnership. The Parties hereby confirm that nothing in this Agreement nor their participation in the Company shall be deemed expressly or impliedly, directly or indirectly or in any other way to be a partnership, association or other
relationship amongst the Parties in which any one or more of the Parties may be liable for the acts or omissions of the other Parties, nor shall anything herein contained be considered or interpreted as constituting any Party as the general agent of
any of the other Parties. 

  
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 Section 14.4. Cumulative Remedies; Waivers. The rights and remedies provided by
this Agreement are cumulative and the use of any one right or remedy by any Party shall not preclude or waive its right to use any or all other remedies. Said rights and remedies are given in addition to any other rights the Parties may have by Law,
statute, ordinance or otherwise. No failure or delay by any Party in exercising any right, power or privilege hereunder (other than a failure or delay beyond a period of time specified herein) shall operate as a waiver thereof and no single or
partial exercise thereof shall preclude any other or further exercise thereof or the exercise of any other right, power or privilege. 

Section 14.5. Binding Effect; Assignment. Subject to the restrictions contained in Article VIII, this Agreement shall be binding
upon and inure to the benefit of all of the Parties and their permitted assigns. Neither this Agreement nor any right or obligation hereunder shall be assigned by any Party without the express written consents of Grab and Singtel, except in
connection with any Transfer permitted under Article VIII. Any attempted assignment in violation of this Section 14.5 shall be null and void ab initio. 

Section 14.6. Severability. If any term or other provision of this Agreement is held to be invalid, illegal or incapable of being
enforced by any rule of Law, or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of the transactions is not affected in any manner
materially adverse to any Party. Upon a determination that any term or other provision is invalid, illegal or incapable of being enforced, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the
Parties as closely as possible in a mutually acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated to the fullest extent possible. 

Section 14.7. Counterparts. This Agreement may be executed and delivered (including by electronic transmission) in one or more
counterparts, and by the different Parties in separate counterparts, each of which when executed and delivered shall be deemed to be an original but all of which taken together shall constitute one and the same agreement. Copies of executed
counterparts of this Agreement transmitted by electronic transmission as well as digitally executed counterparts (such as DocuSign) shall have the same legal effect as original signatures and shall be considered original executed counterparts of
such documents. 
 Section 14.8. Entire Agreement; Previous Shareholders’ Agreement. This Agreement, together
with its Schedules and Exhibits, constitutes the entire agreement among the Parties pertaining to the subject matter of this Agreement, and amends, restates, supersedes, replaces and is in substitution for all other previous agreements and
understandings (whether in writing or verbal) among the Parties in respect of the subject matter of this Agreement (including the Previous Shareholders’ Agreement and that certain Term Sheet between A Holdings Inc. and Singtel, dated
December 28, 2019). In this Section 14.8, in relation to each Party, “this Agreement” includes the other Transaction Documents to which it is a party; provided, that this Agreement amends, restates, supersedes and replaces
the Subscription Agreement only from and after the Effective Date. 

  
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 Section 14.9. Governing Law. This Agreement, and any contractual and non-contractual obligations arising out of or connected with it shall be governed by and construed and enforced in accordance with the laws of Singapore, without giving effect to its conflict of laws principles.

 Section 14.10. Dispute Resolution. Except as expressly set forth otherwise in Section 5.12(g), Section 8.5(b)(v),
Sections 12.5(a) and (b) and Section 12.8 and paragraph (b)(ii) et seq. of Exhibit G, any dispute arising out of or in connection with this Agreement and this Section 14.10, including any question regarding its
existence, validity or termination, shall be referred to and finally resolved by arbitration in accordance with the Arbitration Rules of the Singapore International Arbitration Centre (“SIAC”) for the time being in force, which
rules are deemed to be incorporated by reference in this Section 14.10. 
 (a) The seat of the arbitration shall be Singapore. 

(b) There shall be one arbitrator, who shall be nominated by the President of the SIAC Court of Arbitration. 

(c) The language to be used in the arbitral proceedings shall be English. 

Section 14.11. Specific Performance. The Parties agree that irreparable damage may occur in the event any provision of this
Agreement was not performed in accordance with the terms hereof and that the Parties may seek specific performance of the terms hereof (without the necessity of proving the inadequacy as a remedy of money damages or the posting of a bond), in
addition to any other remedy at Law or in equity. 
 Section 14.12. Expenses, Payments and Stamp Duty. 

(a) Except as otherwise provided in Section 5.12(h) to (j), Section 8.5(b)(v), Sections 12.5(a) and (b) and Section 12.8
and paragraph (b)(vii) of Exhibit G, all costs and expenses, including fees and disbursements of counsel, financial advisors and accountants, incurred in connection with the negotiation, execution, delivery and performance of this
Agreement and the other Transaction Documents and the transactions contemplated hereby and thereby shall be paid by the Party incurring such costs and expenses. Payments under any of the Transaction Documents shall be in immediately available funds
by electronic transfer on the due date for payment. Receipt of the amount due shall be an effective discharge of the relevant payment obligation. 

(b) Save as otherwise expressly provided in Section 12.5(f) and this Section 14.12(b), each Shareholder shall bear and pay all stamp
duty payable under Singapore Law in respect of any and all Shares Transferred to it. Each Defaulting Shareholder shall bear and pay all stamp duty payable under Singapore Law in respect of any and all Shares Transferred by it pursuant to this
Agreement. Unless Singtel, the Eligible Purchaser or the Grab Directed Purchaser, as applicable, agrees to bear such stamp duty, Grab shall bear and pay all stamp duty payable under Singapore Law in respect of any and all Shares Transferred by it
following a Loss of Singaporeaness pursuant to Section 8.5. 

  
 105 

 Section 14.13. Amendments. 

(a) Any provision of this Agreement may be amended or waived if, and only if, such amendment or waiver is in writing and signed by all Parties;
provided, however, that the admission of a new Shareholder in accordance with the terms of this Agreement and the adjustment of the Shares resulting from any such issuance or the registration of any Transfer of Shares in accordance
with the terms of this Agreement (including on Schedule I hereto) shall not be deemed to amend or waive any of the provisions of this Agreement. 

(b) If GFG ceases to be the intermediate holding company within the Grab Parent Group that holds and/or controls (directly or indirectly) all
or substantially all of the financial services businesses of the Grab Parent Group at the relevant time, this Agreement shall, automatically and without any action by any party, be deemed amended to refer to such new intermediate holding company in
lieu of GFG, and Grab shall cause such new intermediate holding company to execute and deliver to the relevant Parties as promptly as practicable: 

(i) a counterpart of a Deed of Adherence duly executed by such new intermediate holding company; 

(ii) a counterpart of a deed of adherence to the Regionalization Agreement (in substantially the form prescribed by the Regionalization
Agreement), duly executed by such new intermediate holding company, unless otherwise waived by, or varied with the approval of, all Shareholders in writing; and 

(iii) a counterpart of a deed of adherence to the Restrictive Covenant Agreement (in substantially the form prescribed by the Restrictive
Covenant Agreement), duly executed by such new intermediate holding company, unless otherwise waived by, or varied with the approval of, all Shareholders in writing; 

(c) If Singtel FinGroup ceases to be the intermediate holding company within the Singtel Parent Group that holds and/or controls (directly or
indirectly) all or substantially all of the financial services businesses of the Singtel Parent Group at the relevant time, this Agreement shall, automatically and without any action by any party, be deemed amended to refer to such new intermediate
holding company in lieu of Singtel FinGroup, and Singtel shall cause such new intermediate holding company to execute and deliver to the relevant Parties as promptly as practicable: 

(i) a counterpart of a Deed of Adherence duly executed by such new intermediate holding company; 

(ii) a counterpart of a deed of adherence to the Regionalization Agreement (in substantially the form prescribed by the Regionalization
Agreement), duly executed by such new intermediate holding company, unless otherwise waived by, or varied with the approval of, all Shareholders in writing; and 

  
 106 

 (iii) a counterpart of a deed of adherence to the Restrictive Covenant Agreement (in
substantially the form prescribed by the Restrictive Covenant Agreement), duly executed by such new intermediate holding company, unless otherwise waived by, or varied with the approval of, all Shareholders in writing; and 

(d) Grab shall cause any successor or acquiror of Grab Parent or GFG, and Singtel shall cause any successor or acquiror of Singtel FinGroup, to
execute and deliver to the relevant Parties as promptly as practicable: 
 (i) a counterpart of a Deed of Adherence duly executed by such
successor or acquiror; 
 (ii) a counterpart of a deed of adherence to the Regionalization Agreement (in substantially the form prescribed
by the Regionalization Agreement), duly executed by such successor or acquiror, unless otherwise waived by, or varied with the approval of, all Shareholders in writing; and 

(iii) a counterpart of a deed of adherence to the Restrictive Covenant Agreement (in substantially the form prescribed by the Restrictive
Covenant Agreement), duly executed by such successor or acquiror, unless otherwise waived by, or varied with the approval of, all Shareholders in writing. 

Section 14.14. No Third Party Beneficiaries. 

(a) Except to the extent set out in Section 14.14(b), a person who is not a party to this Agreement has no right under the Contracts
(Rights of Third Parties) Act, Chapter 53B of Singapore to enforce or enjoy the benefit of any term of this Agreement. 
 (b) (i) The
indemnified Persons referred to in Section 8.5(b)(ii) and Section 10.7 may enforce and rely on the provisions in the said Sections to the same extent as if they were a Party and (ii) the third party(ies) and Affiliates referred to in
Section 4.4(a) and Exhibit M, respectively may enforce and rely on the provisions in the said Sections to the same extent as if they were a Party. Notwithstanding this Section 14.14(b), this Agreement may be terminated and any term
may be amended or waived in accordance with Section 14.13 without the consent of the said indemnified Persons, third party(ies) and Affiliates. 

Section 14.15. No Presumption. Each Party hereto acknowledges and agrees it has had the opportunity to draft, review and edit the
language of this Agreement and that no presumption for or against any Party arising out of drafting all or any part of this Agreement will be applied in any controversy, claim or dispute relating to, in connection with or involving this Agreement.

 Section 14.16. Covenants and Guarantees. Each of Grab Parent, Singtel Parent, GFG, Singtel FinGroup and any New Parent
Shareholder covenants, undertakes and/or guarantees the matters set out in Exhibit M. 

  
 107 

 Section 14.17. Conflicts. In the event of any conflict between the terms of this
Agreement, on the one hand, and the Constitution, on the other hand, this Agreement shall prevail and the Parties shall procure that the Constitution shall be amended forthwith to reflect the terms and conditions of this Agreement (including for the
avoidance of doubt, Sections 4.2(x) and (y)), as such terms and conditions may be in effect from time to time, and otherwise to be consistent with this Agreement. Each Party shall exercise all voting and other rights and powers available to them so
as to give effect to the provisions of this Agreement. In particular, each of the Shareholders agrees to waive any rights under the Constitution to the extent such waiver is necessary to procure that the provisions of this Agreement may be applied
in such manner as is described herein. 
 Section 14.18. Shareholder Group; Representative. 

(a) In relation to any Shareholder Group: 

(i) all Shareholders in the same Shareholder Group shall be jointly and severally liable for the obligations and undertakings of the other
Shareholder(s) in the same Shareholder Group under this Agreement; 
 (ii) for the purpose of computing the Shareholding Percentage or
voting rights of any Shareholder under this Agreement, the Shares held by all Shareholders in the same Shareholder Group shall be aggregated for the purpose of such computation; 

(iii) any reference in this Agreement to the Shares held by a Shareholder (including under Section 8.5, Section 13.2(c) and
Exhibit G), shall be deemed to be reference to the Shares held by such Shareholder’s Shareholder Group, and accordingly, in the event that Section 8.5 applies, Singtel’s rights under the Singtel First Offer Option shall be in
respect of the Relevant Shares held by Grab’s Shareholder Group, and in the event that Section 13.2(c) and Exhibit G applies, the right of the Non-Defaulting Shareholder(s) to exercise the
Default Call Option will be in respect of all the Shares held by the Defaulting Shareholder’s Shareholder Group, and the right of each Non-Defaulting Shareholder to exercise the Default Put Option will be
in respect of all the Shares held by the Non-Defaulting Shareholder’s Group; 
 (iv) a default,
breach or non-compliance by one Shareholder of or with the provisions of this Agreement in a Shareholder Group shall be deemed to be a default, breach or non-compliance
by all other Shareholders in the same Shareholder Group; and 
 (v) the Shareholder Group shall nominate in writing one Representative who
shall (A) act for and on behalf of each Shareholder in the Shareholder Group under this Agreement in respect of any right, action, consent or waiver to be exercised or granted by that Shareholder or that Shareholder Group (including the rights
under Articles V, VI and VII) and (B) be responsible for causing each Shareholder in the Shareholder Group to comply with and perform its obligations and undertakings hereunder. In respect of such Shareholder Group, any notice given by
or to the Representative under this Agreement shall be deemed also to be given by or to the other Shareholders in such Shareholder Group, as the case may be. In the event any Shareholder Group fails for any reason to nominate one Representative, the
Representative shall be deemed to be the Shareholder which has been registered as a member of the Company for the longest period of time as compared with the other Shareholder(s) in the same Shareholder Group. 

[Signature page follows] 
  

  
 108 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by
their respective authorized signatories hereunto duly authorized as of the date first above written. 
  

			
	GXS BANK PTE. LTD. 
		
	By:	 	 /s/ Charles Wong

		 	Name: Charles Wong
		 	Title: Chief Executive Officer
	
	A5-DB HOLDINGS PTE. LTD.
		
	By:	 	 /s/ Reuben Lai Yuen Tung

		 	Name: Reuben Lai Yuen Tung
		 	Title: Director
	
	SFG DIGIBANK INVESTMENT PTE. LTD.
		
	By:	 	 /s/ Arthur Lang Tao Yih

		 	Name: Arthur Lang Tao Yih
		 	Title: Director
		
	By:	 	 /s/ Lim Cheng Cheng

		 	Name: Lim Cheng Cheng
		 	Title: Director

 
			
	GRAB HOLDINGS INC., but solely for purposes of Section 10.2, Section 11.1, Section 14.16, Article XIV (where applicable) and Exhibit M
		
	By:	 	 /s/ Anthony Tan Ping Yeow

		 	Name: Anthony Tan Ping Yeow
		 	Title: Chief Executive Officer
	
	SINGAPORE TELECOMMUNICATIONS LIMITED, but solely for purposes of Section 10.2, Section 11.1, Section 14.16, Article XIV (where applicable) and Exhibit M
		
	By:	 	 /s/ Arthur Lang Tao Yih

		 	Name: Arthur Lang Tao Yih
		 	Title: Group Chief Financial Officer
		
	By:	 	 /s/ Lim Cheng Cheng

		 	Name: Lim Cheng Cheng
		 	Title: Group Chief Corporate Officer

 
			
	AA HOLDINGS INC., but solely for purposes of Section 10.2, Section 11.1, Section 12.7, Section 14.16, Article XIV (where applicable) and Exhibit M
		
	By:	 	 /s/ Reuben Lai Yuen Tung

		 	Name: Reuben Lai Yuen Tung
		 	Title: Head of Grab Financial Group
	
	SINGTEL FINGROUP INVESTMENT PTE. LTD., but solely for purposes of Section 10.2, Section 11.1, Section 14.16, Article XIV (where applicable) and Exhibit M
		
	By:	 	 /s/ Arthur Lang Tao Yih

		 	Name: Arthur Lang Tao Yih
		 	Title: Director
		
	By:	 	 /s/ Lim Cheng Cheng

		 	Name: Lim Cheng Cheng
		 	Title: Director

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