Document:

EX-10.7

 Exhibit 10.7 

This NOVATION, ASSUMPTION AND AMENDMENT AGREEMENT (this “Agreement”) is made and entered into as a deed as of July 23, 2021, by and among
PropertyGuru Pte. Ltd., a Singapore private company limited by shares (the “Company”), PropertyGuru Group Limited, an exempted company limited by shares incorporated under the laws of the Cayman Islands
(“PubCo”), and Epsilon Asia Holdings II Pte. Ltd., a Singapore private company limited by shares (the “Warrantholder”). 

WHEREAS, the Warrantholder is the holder of warrants to subscribe for up to 112,000 ordinary shares in the Company (the
“Warrants”), which Warrants were created by the Company by deed poll executed as of October 12, 2018 (the “Company Warrant Instrument”) and the related Certificate of Warrants to Subscribe for Ordinary Shares
in the Company issued as of October 12, 2018 (the “Company Warrant Certificate”); 
 WHEREAS, on even date herewith,
the Company, PubCo, Bridgetown 2 Holdings Limited, a Cayman Islands exempted company limited by shares, and B2 Amalgamation Sub Pte. Ltd., a Singapore private company limited by shares and a direct wholly-owned Subsidiary of PubCo, entered into a
business combination agreement (as amended, modified or supplemented from time to time, the “Business Combination Agreement”); 

WHEREAS, pursuant to the terms and conditions of the Business Combination Agreement, at the Amalgamation Effective Time (as defined in the
Business Combination Agreement), (a) the outstanding Company Shares shall be cancelled in consideration of the right to receive PubCo Shares to be listed and traded on a stock exchange, (b) the other Equity Securities of the Company shall be
assumed by PubCo and shall thereafter be exercisable for or represent the right to receive a number of PubCo Shares calculated based on the Exchange Ratio as set forth in the Business Combination Agreement rather than Company Shares, and (c) it
is contemplated that PubCo shall assume the obligations of the Company with respect to the Warrants; 
 WHEREAS, the Company, PubCo and the
Warrantholder each desire that the Warrants be assumed by PubCo, as valid and binding legal obligations of PubCo, on terms and conditions modified in accordance with this Agreement; and 

WHEREAS, the terms and conditions of this Agreement have been duly approved by a Special Resolution (as defined in the Company Warrant
Instrument in effect as of the date of this Agreement); 
 NOW, THEREFORE, in consideration of the mutual covenants and agreements herein
contained, and for other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, agree as follows: 

1. Definitions; Interpretation. Capitalized terms used but not defined in this Agreement shall have the meaning ascribed to such
terms in the Business Combination Agreement, and this Agreement shall be interpreted, construed and applied in accordance with the rules of construction set forth in Section 1.2 of the Business Combination Agreement. 

2. Warrant Novation. 
 2.1.
Novation and Assumption. The Company hereby novates, grants, conveys and transfers to PubCo all of the Company’s rights and obligations under, pursuant to or in connection with the Company Warrant Instrument, Company Warrant Certificate
and Warrants, and PubCo hereby accepts such novation, grant, conveyance and transfer and agrees to assume, pay, perform, satisfy and discharge in full, as the same become due, all of the Company’s duties and responsibilities pursuant to or in
connection with the Company Warrant Instrument, Company Warrant Certificate and Warrants, each as amended or modified by this Agreement, in each case effective as of the Amalgamation Effective Time. 

 

 2.2. Consent to Novation. The Warrantholder hereby consents to the novation, grant,
conveyance and transfer of all of the Company’s rights and obligations under, pursuant to or in connection with the Company Warrant Instrument, Company Warrant Certificate and Warrants and shall release and discharge the Company from further
performance of the Company Warrant Instrument, Company Warrant Certificate and Warrants and from all liabilities, claims and demands howsoever arising on and with effect from the Amalgamation Effective Time, whether in contract, tort or otherwise,
and accepts the performance by, and the liability of, PubCo under the Company Warrant Instrument, Company Warrant Certificate and Warrants, each as amended or modified by this Agreement and in each case, on and with effect from the Amalgamation
Effective Time, in place of the performance by, and the liability of, the Company. For the avoidance of doubt, the Company shall not be released or discharged in respect of any and all of the Company’s rights and obligations under, pursuant to
or in connection with the Company Warrant Instrument, Company Warrant Certificate and Warrants which have accrued up to but not including the Amalgamation Effective Time, whether in contract, tort or otherwise. 

3. Amendment and Modification of Warrant Terms. 

3.1. PubCo Amalgamation Warrants. Effective as of the Amalgamation Effective Time, the Warrants shall no longer be exercisable for
Company Shares, but shall instead be exercisable (subject to the terms of the attached Annex A to this Agreement) for a number of PubCo Shares calculated based on the Exchange Ratio as set forth in the Business Combination Agreement. 

3.2. Amendment and Restatement of Warrant Terms. Effective as of the Amalgamation Effective Time: 

(a) the Company Warrant Instrument, Company Warrant Certificate and their respective associated schedules, terms, conditions and endorsements,
in each case in effect as of immediately prior to the Amalgamation Effective Time, shall cease to govern and provide for the terms and conditions of the Warrants; 

(b) the Company Warrant Instrument is hereby supplemented, amended and restated in its entirety in the form of the attached Annex A to
this Agreement; and 
 (c) the terms and conditions of the Warrants shall thereafter be as set forth in the attached Annex A to this
Agreement and shall be binding upon PubCo and the Warrantholder. 
 3.3. Sanction. The Warrantholder hereby: 

(a) consents to the supplement, amendment and modification of the Warrants, Company Warrant Instrument and Company Warrant Certificate as
provided in this Agreement and the Business Combination Agreement; and 
 (b) acknowledges and agrees that the modification of the Company
Warrant Instrument pursuant to this Agreement is valid and effective notwithstanding any procedural requirements contained in clause 7 of the Company Warrant Instrument, the same being inapposite in the context of the Business Combination Agreement.

  
 2 

 4. Adjustment to Shares Underlying the Warrant. Upon the Amalgamation Effective
Time, after giving effect to the amendment provided in this Agreement, the Warrants shall entitle the Warrantholder to subscribe for and purchase 4,043,411 PubCo Shares, subject to adjustment from time to time after the Amalgamation Effective Time
in accordance with Part 4 of Annex A. 
 5. Tax and Stamp Duties. PubCo shall pay all stamp duties and other similar
duties or taxes payable on or in connection with the constitution and initial issue of the PubCo Amalgamation Warrants, the distribution of the PubCo Amalgamation Warrants, the issue of the PubCo Shares pursuant to the exercise of the PubCo
Amalgamation Warrants and the execution of this Agreement. Any other stamp duties, similar duties or taxes on, or arising from, the transfer of any of the PubCo Amalgamation Warrants or the PubCo Shares subsequent to their respective date of issue
will be for the account of the Warrantholder. 
 6. Miscellaneous. 

6.1. Effectiveness. Each of the parties hereto acknowledges and agrees that the effectiveness of this Agreement shall not occur until
the Amalgamation Effective Time and that this Agreement shall not become effective, shall automatically be terminated and shall be null and void if the Business Combination Agreement shall be terminated for any reason prior to the Amalgamation
Effective Time. 
 6.2. Amendment. This Agreement (including, for avoidance of doubt, Annexes A and B hereto) may be
amended (a) prior to the Amalgamation Effective Time, with the written consent of each of PubCo, the Company and the Warrantholder, and (b) after the Amalgamation Effective Time, with the written consent of PubCo and the Warrantholder.

 6.3. Successors. All the covenants and provisions of this Agreement by or for the benefit of PubCo, the Company or the
Warrantholder shall bind and inure to the benefit of their respective successors and assigns. 
 6.4. Applicable Law and Forum. The
validity, interpretation, and performance of this Agreement shall be governed in all respects by the laws of the State of New York. Subject to applicable law, each of PubCo, the Company and the Warrantholder hereby agrees that any action, proceeding
or claim against it arising out of or relating in any way to this Agreement shall be brought and enforced in the courts of the State of New York or the United States District Court for the Southern District of New York, and irrevocably submits to
such jurisdiction, which jurisdiction shall be exclusive forum for any such action, proceeding or claim. Each of PubCo, the Company and the Warrantholder hereby waives any objection to such exclusive jurisdiction and that such courts represent an
inconvenient forum. Notwithstanding the foregoing, the provisions of this paragraph will not apply to suits brought to enforce any liability or duty created by the Exchange Act or any other claim for which the federal district courts of the United
States of America are the sole and exclusive forum. Any person or entity purchasing or otherwise acquiring any interest in the Warrants shall be deemed to have notice of and to have consented to the forum provisions in this
Section 6.4. If any action, the subject matter of which is within the scope the forum provisions above, is filed in a court other than a court located within the State of New York or the United States District Court for the
Southern District of New York (a “foreign action”) in the name of any holder of Warrants, such holder shall be deemed to have consented to: (x) the personal jurisdiction of the state and federal courts located within the
State of New York or the United States District Court for the Southern District of New York in connection with any action brought in any such court to enforce the forum provisions (an “enforcement action”), and (y) having service of
process made upon such warrant holder in any such enforcement action by service upon such warrant holder’s counsel in the foreign action as agent for such warrant holder. 

  
 3 

 6.5. Notices. The provisions of Section 13.3 of the Business Combination Agreement
are incorporated herein by reference, mutatis mutandis, as if set forth in full herein, provided, that the initial contact details of the Warrantholder for purposes of delivering notices in connection with this Agreement and the
Warrants shall be: 
 Address: 8 Marina View 

#33-04 Asia Square Tower 1 

Singapore 018960 
 Attention:
General Counsel 
 Facsimile No.: +65 6922 5801 

6.6. Counterparts. This Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts
shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. A signed copy of this Agreement delivered by facsimile, e-mail or other
means of electronic transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this Agreement. 

6.7. Effect of Headings. The section headings herein are for convenience only and are not part of this Agreement and shall not affect
the interpretation thereof. 
 6.8. Severability. This Agreement shall be deemed severable, and the invalidity or unenforceability of
any term or provision hereof shall not affect the validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable term or provision, the parties hereto intend that
there shall be added as a part of this Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable. 

[Signature pages follow] 

  
 4 

 IN WITNESS WHEREOF, each party has duly executed this Agreement, all as of the date first written above, as
a Deed. 
  

			
	EXECUTED AS A DEED for and on behalf of:
	
	PROPERTYGURU PTE. LTD.
		
	By:	 	 /s/ Hari Vembakkam Krishnan

	Name:	 	Hari Vembakkam Krishnan
	Title:	 	Chief Executive Officer and Managing Director
	
	In the presence of:
		
	Witness:	 	 /s/ Maya Hari

	Name:	 	Maya Hari
	Title:	 	VP, Twitter
	
	PROPERTYGURU GROUP LIMITED
		
	By:	 	 /s/ Daniel Wong

	Name:	 	Daniel Wong
	Title:	 	Director
	
	In the presence of:
		
	Witness:	 	 /s/ Lo Mei Bo

	Name:	 	Lo Mei Bo
	Title:	 	Secretary

			
	EPSILON ASIA HOLDINGS II PTE. LTD.
		
	By:	 	 /s/ Adam John Hyland

	Name:	 	Adam John Hyland
	Title:	 	Director
		
	By:	 	 /s/ Ngan Nim Ying

	Name:	 	Ngan Nim Ying
	Title:	 	Director

 ANNEX A 

TERMS AND CONDITIONS OF PUBCO AMALGAMATION WARRANTS 

From and after the Amalgamation Effective Time, the form and provisions of the Warrants, the terms upon which they shall be issued and exercised, and the
respective rights, limitation of rights, and immunities of PubCo and the holders of the Warrants, shall be as set forth in the following terms and conditions (these “Warrant Terms”). 

1. Form and Registration of Warrants. 

1.1 Form of Warrant. Each Warrant shall subsist in registered form only. If a physical certificate is issued in respect of a
Warrant, then such certificate: 
 (a) shall be in substantially the form of Annex B to that certain Novation, Assumption and
Amendment Agreement made and entered into as of [•], 2021, by and among PropertyGuru Pte. Ltd., PropertyGuru Group Limited (“PubCo”), and Epsilon Asia Holdings II Pte. Ltd., (the “Company Warrant Agreement”)
the provisions of which Exhibit B are incorporated herein; 
 (b) shall be signed by, or bear the facsimile signature of, the
Chairman of the Board, President, Chief Executive Officer, Chief Financial Officer, Chief Operations Officer, Secretary or other principal officer of the PubCo; and 

(c) shall be invalid and of no effect and may not be exercised by the holder thereof, unless and until countersigned by PubCo in accordance
with these Warrant Terms. 
 1.2 Registry Matters. 

(a) PubCo shall maintain books (the “Warrant Register”) recording the issuance, holder, denomination and transfer of the
Warrants. 
 (b) Prior to due presentment for registration of transfer of any Warrant in accordance with and as permitted by these Warrant
Terms, PubCo may deem and treat the person in whose name such Warrant is registered in the Warrant Register (the “Registered Holder”) as the absolute owner of such Warrant and of each Warrant represented thereby, for the purpose of
any exercise thereof, and for all other purposes, and PubCo shall not be affected by any notice to the contrary 
 1.3 No Fractional
Warrants. PubCo shall not issue fractional Warrants. If a holder of Warrants would be entitled to receive a fractional Warrant, PubCo shall round down to the nearest whole number the number of Warrants to be issued to such holder. 

2. Duration of Warrants. A Warrant may be exercised only during the period (the “Exercise Period”) commencing upon
the Amalgamation Effective Time, and terminating at 5:00 p.m., New York City time, on the date that is 180 days after the date on which the Amalgamation Effective Time occurs (the “Expiration Date”). Each outstanding Warrant not
exercised on or before the Expiration Date shall become void, and all rights thereunder and all rights in respect thereof under these Warrant Terms, shall cease at 5:00 p.m. New York City time on the Expiration Date. 

  
 Annex A - 1 

 3. Terms of Exercise of Warrants. 

3.1 Warrant Price. Each Warrant shall entitle the Registered Holder thereof, subject to the provisions of such Warrant and of
these Warrant Terms, to purchase from PubCo the number of PubCo Shares stated therein, at the price per PubCo Share equal to the Warrant Price, being $6.92, subject to the adjustments provided in Part 4 of these Warrant Terms. The term
“Warrant Price” as used in these Warrant Terms shall mean the price per share at which PubCo Shares may be purchased at the time a Warrant is exercised. 

3.2 Election to Purchase and Payment. Subject to the provisions of the Warrant and these Warrant Terms, a Warrant may be exercised by
the Registered Holder thereof by delivering to PubCo (a) the Warrant Certificate, if any, evidencing the Warrants to be exercised, (b) an election to purchase (“Election to Purchase”) PubCo Shares pursuant to the exercise
of a Warrant, in the form on the reverse of the Warrant Certificate, properly completed and executed by the Registered Holder (on the reverse of the Warrant Certificate, if any), and (c) payment in full of the Warrant Price for each full PubCo
Share as to which the Warrant is exercised and any and all applicable fees and taxes due in connection with the exercise of the Warrant, the exchange of the Warrant for the PubCo Shares and the issuance of such PubCo Shares, by wire transfer of
immediately available funds. 
 3.3 Issuance of PubCo Shares. As soon as practicable after the exercise of any Warrant and the
clearance of the funds in payment of the Warrant, PubCo shall issue to the Registered Holder of such Warrant a book-entry position or certificate, as applicable, for the number of full PubCo Shares to which such Registered Holder is entitled
pursuant to these Warrant Terms, registered in the name of such Warrant holder (or such other person as may be directed by the Warrantholder), and if such Warrant shall not have been exercised in full, a new book-entry position or countersigned
Warrant, as applicable, for the number of PubCo Shares as to which such Warrant shall not have been exercised. If fewer than all the Warrants are exercised, a notation shall be made to the Warrant Register maintained by PubCo evidencing the balance
of the Warrants remaining after such exercise. 
 3.4 Valid Issuance. All PubCo Shares issued upon the proper exercise of a Warrant in
conformity with these Warrant Terms and Governing Documents of PubCo shall be validly issued, fully paid, non-assessable, unencumbered and free and clear of any security interests, claims (including pre-emptive rights), liens and encumbrances. 
 3.5 Date of Issuance. Upon due and proper exercise
of a Warrant, PubCo shall make the necessary entries in the register of members of PubCo (and, if agreed between the Registered Holder and PubCo, issue a certificate) in respect of the PubCo Shares issued in respect of the exercised Warrant. Each
person in whose name any book-entry position in the register of members of PubCo or certificate, as applicable, for PubCo Shares is issued shall for all purposes be deemed to have become the holder of record of such PubCo Shares on the date on which
the Warrant, or book-entry position in the register of members of PubCo representing such Warrant, was surrendered and payment of the Warrant Price was made, irrespective of the date of delivery of such certificate in the case of a certificated
Warrant, except that, if the date of such surrender and payment is a date when the register of members or share transfer books of PubCo or book-entry system of PubCo are closed, such person shall be deemed to have become the holder of such PubCo
Shares at the close of business on the next succeeding date on which the register of members, share transfer books or book-entry system are open. 

  
 Annex A - 2 

 4. Adjustments. 

4.1 Share Dividends and Splits. If following the Amalgamation Effective Time, and subject to the provisions of Part 4.6 below,
the number of outstanding PubCo Shares is increased by a share dividend payable in PubCo Shares, or by a split up of PubCo Shares, or other similar event, then, on the effective date of such share dividend, split up or similar event, the number of
PubCo Shares issuable on exercise of each Warrant shall be increased in proportion to such increase in outstanding shares of PubCo Shares. 

4.2 Aggregation of Shares. If after the date hereof, and subject to the provisions of Part 4.6 below, the number of issued and
outstanding PubCo Shares is decreased by a consolidation, combination or reclassification of PubCo Shares or other similar event, then, on the effective date of such consolidation, combination, reclassification or similar event, the number of PubCo
Shares issuable on exercise of each Warrant shall be decreased in proportion to such decrease in issued and outstanding PubCo Shares. 
 4.3
Adjustments in Warrant Price. Whenever the number of PubCo Shares purchasable upon the exercise of the Warrants is adjusted, as provided in Parts 4.1 or 4.2 above, the Warrant Price shall be adjusted (to the nearest cent) by
multiplying such Warrant Price immediately prior to such adjustment by a fraction (x) the numerator of which shall be the number of PubCo Shares purchasable upon the exercise of the Warrants immediately prior to such adjustment, and
(y) the denominator of which shall be the number of PubCo Shares so purchasable immediately thereafter. 
 4.4 Replacement of
Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding PubCo Shares (other than a change addressed in Parts 4.1 or 4.2 above or that solely affects the par value of such PubCo
Shares), or in the case of any merger or consolidation of PubCo with or into another corporation (other than a consolidation or merger in which PubCo is the continuing corporation and that does not result in any reclassification or reorganization of
the outstanding PubCo Shares), or in the case of any sale or conveyance to another corporation or entity of the assets or other property of PubCo as an entirety or substantially as an entirety in connection with which PubCo is dissolved, the Warrant
holders shall thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions specified in the Warrants and in lieu of the PubCo Shares purchasable and receivable upon the exercise of the rights represented
thereby, the kind and amount of shares of stock or other securities or property (including cash) receivable upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer, that the
Warrant holder would have received if such Warrant holder had exercised his, her or its Warrant(s) immediately prior to such event; and if any reclassification also results in a change in PubCo Shares addressed in Parts 4.1 or 4.2
above, then such adjustment shall be made pursuant to Parts 4.1, 4.2, 4.3 and this Part 4.4. The provisions of this Part 4.4 shall similarly apply to successive reclassifications, reorganizations, mergers or
consolidations, sales or other transfers. 
 4.5 Notices of Changes in Warrant. Upon every adjustment of the Warrant Price or the
number of PubCo Shares issuable upon exercise of a Warrant, PubCo shall give written notice thereof to the Registered Holders as soon as reasonably practicable thereafter, which notice shall state the Warrant Price resulting from such adjustment and
the increase or decrease, if any, in the number of PubCo Shares purchasable at such price upon the exercise of a Warrant, setting forth in reasonable detail the method of calculation and the facts upon which such calculation is based. Upon the
occurrence of any event specified in Parts 4.1, 4.2, 4.3 and 4.4, PubCo shall give written notice of the occurrence of such event to each holder of a Warrant as soon as reasonably practicable thereafter, at the last
address set forth for such holder in the Warrant Register, of the record date or the effective date of the event. Failure to give such notice, or any defect therein, shall not affect the legality or validity of such event unless there has been
material prejudice to the Warrantholder as a result of failure to give such notice, or any defect therein. 

  
 Annex A - 3 

 4.6 No Fractional Shares. Notwithstanding any provision contained in
this Agreement to the contrary, PubCo shall not issue fractional PubCo Shares upon the exercise of Warrants. If, by reason of any adjustment made pursuant to this Part 4, the holder of any Warrant would be entitled, upon the exercise of such
Warrant, to receive a fractional interest in a share, PubCo shall, upon such exercise, round down to the nearest whole number, the number of PubCo Shares to be issued to such holder. 

4.7 Form of Warrant. The form of Warrant need not be changed because of any adjustment pursuant to this Part 4, and Warrants
issued after such adjustment may state the same Warrant Price and the same number of PubCo Shares as is stated in the Warrants as of immediately following the Amalgamation Effective Time; provided, however, that PubCo may at any time
in its sole discretion make any change in the form of Warrant that PubCo may deem appropriate and that does not affect the substance thereof, and any Warrant thereafter issued or countersigned, whether in exchange or substitution for an outstanding
Warrant or otherwise, may be in the form as so changed. 
 4.8 Other Events. In case any event shall occur affecting PubCo as to which
none of the provisions of preceding subsections of this Part 4 are strictly applicable, but which would require an adjustment to the terms of the Warrants in order to (a) avoid an adverse impact on the Warrants and (b) effectuate
the intent and purpose of this Part 4, then, in each such case, the board of directors of PubCo shall appoint a firm of independent public accountants, investment banking or other appraisal firm of recognized national standing, which shall
give its opinion as to whether or not any adjustment to the rights represented by the Warrants is necessary to effectuate the intent and purpose of this Part 4 and, if they determine that an adjustment is necessary, the terms of such
adjustment. Without prejudice to the foregoing, PubCo shall not take any action which would result in any adjustment to the Warrant Price if, after giving effect thereto, the Warrant Price would be decreased to such an extent that the PubCo Shares
to be issued on exercise of any Warrants could not, under any applicable law then in effect, be legally issued as fully paid. 
 5. Transfer and
Exchange of Warrants.
 5.1 Restriction on Transfer. During the Exercise
Period, without the prior written consent of the board of directors of PubCo, no holder of Warrants shall effect, undertake, enter into or announce any (a) sale of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any
option to purchase or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position or liquidation with respect to or decrease of a call equivalent position within the meaning of
Section 16 of the Exchange Act and the rules and regulations of the Commission promulgated thereunder, with respect to, any Warrant, (b) entry into any swap or other arrangement that transfers to another, in whole or in part, any of the
economic consequences of ownership of any Warrant, whether or not any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (c) public announcement of any intention to effect any transaction specified in
clause (a) or (b); provided, however, that the initial Warrantholder may transfer all (but not less than all) of the Warrants to any Affiliate of such Warrantholder who agrees in writing with PubCo to be subject to the terms and
conditions of these Warrant Terms and the Company Warrant Agreement. 

  
 Annex A - 4 

 5.2 Registration of Transfer. Subject to Part 5.1 above, PubCo shall register
the transfer, from time to time, of any outstanding Warrant upon the Warrant Register, upon surrender of such Warrant for transfer, in the case of certificated Warrants, properly endorsed with signatures properly guaranteed and accompanied by
appropriate instructions for transfer. Upon any such transfer, a new Warrant representing an equal aggregate number of Warrants shall be issued and the old Warrant shall be cancelled by PubCo. 

5.3 Procedure for Surrender of Warrants. Subject to Part 5.1 above, Warrants may be surrendered to PubCo, together with a
written request for exchange or transfer, and thereupon PubCo shall issue in exchange therefor one or more new Warrants as requested by the Registered Holder of the Warrants so surrendered, representing an equal aggregate number of Warrants;
provided, however, that in the event that a Warrant surrendered for transfer bears a restrictive legend, PubCo shall not cancel such Warrant and issue new Warrants in exchange thereof until PubCo has received an opinion of counsel for PubCo
stating that such transfer may be made and indicating whether the new Warrants must also bear a restrictive legend. 
 5.4 Fractional
Warrants. PubCo shall not be required to effect any registration of transfer or exchange which shall result in the issuance of a warrant certificate or book-entry position for a fraction of a warrant. 

5.5 Service Charges. No service charge shall be made for any exchange or registration of transfer of Warrants. 

5.6 Warrant Execution and Countersignature. Subject to Part 5.1 above, PubCo is hereby authorized to countersign and to
deliver, in accordance with the terms of this Agreement, the Warrants required to be issued pursuant to the provisions of this Part 5.  

6. Other Provisions Relating to Rights of Holders of Warrants. 

6.1 No Rights as Shareholder. A Warrant does not entitle the Registered Holder thereof to any of the rights of a shareholder of
PubCo, including, without limitation, the right to receive dividends, or other distributions, exercise any preemptive rights to vote or to consent or to receive notice as shareholders in respect of general meetings or the appointment of directors of
PubCo or any other matter. 
 6.2 Lost, Stolen, Mutilated, or Destroyed Warrants. If any Warrant is lost, stolen, mutilated, or
destroyed, PubCo may on such terms as to indemnity or otherwise as they may in their discretion impose (which shall, in the case of a mutilated Warrant, include the surrender thereof), issue a new Warrant of like denomination, tenor, and date as the
Warrant so lost, stolen, mutilated, or destroyed. Any such new Warrant shall constitute a substitute contractual obligation of PubCo, whether or not the allegedly lost, stolen, mutilated, or destroyed Warrant shall be at any time enforceable by
anyone. 
 6.3 Reservation of Ordinary Shares. PubCo shall at all times reserve and keep available a number of its authorized but
unissued PubCo Shares that shall be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to this Agreement. 

  
 Annex A - 5 

 6.4 Examination of the Warrant Agreement. A copy of these Warrant Terms and of the
Company Warrant Agreement shall be available at all reasonable times at the office of PubCo, for inspection by the Registered Holder of any Warrant. PubCo may require any such holder to submit such holder’s Warrant for inspection by PubCo. 

  
 Annex A - 6 

 ANNEX B 

FORM OF WARRANT CERTIFICATE 

[Reverse] 
 The Warrants evidenced by this
Warrant Certificate are part of a duly authorized issue of Warrants entitling the holder on exercise to receive PubCo Shares pursuant to a Novation, Assumption and Amendment Agreement made and entered into as a deed as of [•], 2021, by and
among PropertyGuru Pte. Ltd., PropertyGuru Group Limited (“PubCo”), and Epsilon Asia Holdings II Pte. Ltd., (the “Company Warrant Agreement”), which Warrant Agreement is hereby incorporated by reference in and made
a part of this instrument and is hereby referred to for a description of the rights, limitation of rights, obligations, duties and immunities thereunder of the Company and the holders (the words “holders” or
“holder” meaning the Registered Holders or Registered Holder, respectively) of the Warrants. A copy of the Company Warrant Agreement may be obtained by the holder hereof upon written request to PubCo. Defined terms used in this
Warrant Certificate but not defined herein shall have the meanings given to them in the Company Warrant Agreement. 
 Warrants may be exercised at any time
during the Exercise Period set forth in the Warrant Agreement. The holder of Warrants evidenced by this Warrant Certificate may exercise them by surrendering this Warrant Certificate, with the form of election to purchase set forth hereon properly
completed and executed, together with payment of the Warrant Price as specified in the Company Warrant Agreement at the principal corporate office of PubCo. In the event that upon any exercise of Warrants evidenced hereby the number of Warrants
exercised shall be less than the total number of Warrants evidenced hereby, there shall be issued to the holder hereof or his, her or its assignee, a new Warrant Certificate evidencing the number of Warrants not exercised.

The Warrant Agreement provides that upon the occurrence of certain events the number of PubCo Shares issuable upon exercise of the Warrants set forth on the
face hereof may, subject to certain conditions, be adjusted. If, upon exercise of a Warrant, the holder thereof would be entitled to receive a fractional interest in a PubCo Share, PubCo shall, upon exercise, round down to the nearest whole number
of PubCo Shares to be issued to the holder of the Warrant. 
 Warrant Certificates, when surrendered at the principal corporate office of PubCo by the
Registered Holder thereof in person or by legal representative or attorney duly authorized in writing, may be exchanged, in the manner and subject to the limitations provided in the Warrant Agreement, but without payment of any service charge, for
another Warrant Certificate or Warrant Certificates of like tenor evidencing in the aggregate a like number of Warrants. 
 THE SECURITIES REPRESENTED BY
THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED, SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, AND ANY APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM REGISTRATION IS AVAILABLE. IN ADDITION, THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD OR TRANSFERRED PRIOR TO THE DATE THAT IS ONE HUNDRED AND EIGHTY
(180) DAYS AFTER THE AMALGAMATION EFFECTIVE TIME UNDER THE BUSINESS COMBINATION AGREEMENT (AS DEFINED IN THE COMPANY WARRANT AGREEMENT) EXCEPT AS PERMITTED UNDER PART 5 OF ANNEX A TO THE COMPANY WARRANT AGREEMENT. 

Upon due presentation for registration of transfer of this Warrant Certificate at the office of PubCo, a new Warrant Certificate or Warrant Certificates of
like tenor and evidencing in the aggregate a like number of Warrants shall be issued to the transferee(s) in exchange for this Warrant Certificate, subject to the limitations provided in the Warrant Agreement, without charge except for any tax or
other governmental charge imposed in connection therewith. 
 PubCo may deem and treat the Registered Holder(s) hereof as the absolute owner(s) of this
Warrant Certificate (notwithstanding any notation of ownership or other writing hereon made by anyone), for the purpose of any exercise hereof, of any distribution to the holder(s) hereof, and for all other purposes, and the Company shall not be
affected by any notice to the contrary. Neither the Warrants nor this Warrant Certificate entitles any holder hereof to any rights of a shareholder of the Company. 

  
 Annex B - 1 

 Election to Purchase 

(To Be Executed Upon Exercise of Warrant) 
 The
undersigned hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, to receive         PubCo Shares and herewith tenders payment for such PubCo Shares to the order
of         (“PubCo”) in the amount of $         in accordance with the terms hereof. The undersigned requests that a certificate for such PubCo
Shares be registered in the name of         , whose address is         and that such PubCo Shares be delivered to
                    whose address is .         If said number of PubCo Shares is less than all of the PubCo
Shares purchasable hereunder, the undersigned requests that a new Warrant Certificate representing the remaining balance of such PubCo Shares be registered in the name of         , whose address
is         and that such Warrant Certificate be delivered to         , whose address is .

[Signature Page Follows] 
  

							
		 		 		 	  

	Date:             , 20	 		 		 	(Signature)
				
		 		 		 	  

		 		 		 	  

		 		 		 	  

		 		 		 	(Address)
				
		 		 		 	  

	Signature Guaranteed:	 		 		 	(Tax Identification Number)

 THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS
AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15 UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED (OR ANY SUCCESSOR RULE)). 

  
 Annex B - 2EX-10.8

 Exhibit 10.8 

PROPERTYGURU GROUP LIMITED EMPLOYEE STOCK OPTION PLAN 2016 

Adopted on 4th April 2016 (the “Effective Date”) and subsequently
amended on 1st January 2018, 6th October 2019, 9th December 2019, 14th October 2020 and 19th July 2021 (the “PropertyGuru Plan”). In connection with the transactions contemplated by
that certain Business Combination Agreement by and among Bridgetown 2 Holdings Limited, PropertyGuru Group Limited, B2 PubCo Amalgamation Sub Pte. Ltd. and PropertyGuru Pte. Ltd. dated 23rd July
2021, the PropertyGuru Plan was assumed and converted into the PropertyGuru Group Limited Employee Stock Option Plan 2016. 
  

	1.	 PURPOSE OF THE PLAN 

The purpose of the PropertyGuru Group Limited (the “Company”) Employee Stock Option Plan 2016 (the
“ESO Plan 2016”) is to promote the interests of the Company and its subsidiaries (collectively the “Group”) by providing selected employees and directors of the Group with an appropriate incentive to
encourage them to continue in the employ of the Group and to improve the growth, profitability and financial success of the Group. 
  

	2.	 DEFINITIONS 

As used in this ESO Plan 2016 and in any Option Grant Agreement, the following capitalised terms shall have the following meanings: 

 

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

  

	 	(b)	 “Applicable Law” shall mean applicable laws, rules, regulations and requirements,
including all applicable U.S. federal or state laws, any Stock Exchange rules, regulations or guidelines, the applicable laws, rules or regulations of any other country or jurisdiction where any Options are granted under the ESO Plan 2016, or where
Participants reside or provide services, and the orders and requirements of governmental authorities in any such jurisdiction, as such laws, rules, regulations, orders and requirements shall be in effect from time to time. 

  
 1 

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

  

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

  

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

 

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

  

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

  

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

  

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

  

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

 

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

 

	 	(vi)	 a breach by the Participant of the terms of any agreement with the Company or any subsidiary of the Company or
any material policies of the Company or any subsidiary of the Company applicable to the Participant, including without limitation any provision of the ESO Plan 2016 and/or the Option Grant Agreement; or 

 

	 	(vii)	 Competing. 

  
 2 

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

 

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

 

	 	(h)	 “Committee” shall mean the Remuneration Committee of the Board or any other committee
appointed by the Board pursuant to Section 3 from time to time to administer the ESO Plan 2016, and if no such committee exists or has been appointed, the Board. 

 

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

  

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

  
 3 

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

 

	 	(l)	 “Eligible Individual” shall mean any Employee who, in the judgment of the Committee,
should be eligible to participate in the ESO Plan 2016 due to the services they perform on behalf of the Company or a subsidiary of the Company. 

  

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

  

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

  

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

  

	 	(p)	 “Exercise Price” shall mean the price (which may be nil) that the Participant
must pay under the Option for each Ordinary Share, as determined by the Committee in its absolute discretion for each grant and initially specified in the Option Grant Agreement, subject to any adjustment that may be made in accordance with the ESO
Plan 2016. 

  

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

  
 4 

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

  

	 	(i)	 redundancy; 

  

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

  

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

  

	 	(iv)	 death or Disability by the Participant; or 

 

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

 

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

  

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

  

	 	(u)	 “Option” shall mean the option to purchase or subscribe for Ordinary Shares
granted to any Participant under the ESO Plan 2016. Any references in the ESO Plan 2016 to an “Option” will include, but are not limited to, “Time-Based Options” and “Performance-Based
Options”. 

  

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

  

	 	(w)	 “Option Grant Agreement” shall mean an agreement, substantially in the form attached
hereto as Exhibit A, entered into by each Participant and the Company evidencing the grant of each Option pursuant to the ESO Plan 2016, provided the Committee may make such changes to the form of the Option Grant Agreement for any particular grant
as the Committee may determine in its absolute discretion, pursuant to its powers set forth in the ESO Plan 2016. 

  

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

  

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

  

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

  

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

  
 5 

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

  

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

  

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

  

	3.	 ADMINISTRATION OF THE PLAN 

The Board shall have the right to establish the Committee to administer the ESO Plan 2016 under the terms of the Company’s constitution,
and to grant Options. 
 In addition, the Committee, in its absolute discretion, may delegate its authority to grant Options to an officer or
committee of officers of the Company, subject to reasonable limits and guidelines established by the Committee at the time of such delegation and subject to Applicable Law. 
  

	3.1	 Powers of the Committee. In addition to the other powers granted to the Committee under the ESO
Plan 2016, the Committee shall have the power, in its absolute discretion, to: 

  

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

 

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

 

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

  

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

 

	 	3.1.5	 prescribe the form and terms and conditions of any instrument evidencing a grant of Options, so long as such
terms and conditions are not otherwise inconsistent with the terms of the ESO Plan 2016; 

  

	 	3.1.6	 adopt, amend and rescind such rules and regulations as, in its opinion, may be advisable for the administration
of the ESO Plan 2016; 

  

	 	3.1.7	 construe and interpret the ESO Plan 2016, such rules and regulations and the instruments evidencing grants of
Options; 

  

	 	3.1.8	 reconcile any inconsistency, correct any defect and/or supply any omission in the ESO Plan 2016 or any
instrument evidencing any grant of Options; and 

  
 6 

	 	3.1.9	 make all other determinations necessary or advisable for the administration of the ESO Plan 2016 and otherwise
do all things necessary to carry out the purposes of the ESO Plan 2016, 

 provided that such power shall be subject to
Applicable Law. 
  

	3.2	 Determinations of the Committee. Any grant, determination, prescription or other act of the
Committee shall be final and conclusively binding upon all Persons (including for the avoidance of doubt, any decisions pertaining to disputes as to the interpretation of the ESO Plan 2016 or any rule, regulation or procedure hereunder or as to any
rights under the Plan). The Committee shall not be required to furnish any reasons for any decision or determination made by it. 

  

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

  

	3.4	 Inconsistent Terms. In the event of a conflict between the terms of the ESO Plan 2016 and the
terms of any Option Grant Agreement, the terms of the ESO Plan 2016 shall govern except as otherwise expressly provided herein. 

  

	3.5	 ESO Plan 2016 Term. The Committee shall not grant any Options under the ESO Plan 2016 on or after
the tenth anniversary of the Effective Date. All Options which remain outstanding after such date shall continue to be governed by the ESO Plan 2016 and the applicable Option Grant Agreement(s). 

  
 7 

	4.	 OPTIONS  

  

	4.1	 Grant. The Committee may offer to grant Options to such Eligible Individuals as it may select in
its absolute discretion at any time during the period where the ESO Plan 2016 is in force, provided that such power shall be subject to Applicable Law. Each Option offered pursuant to the ESO Plan 2016 shall be subject to terms and conditions
established by the Committee consistent with the ESO Plan 2016. 

  

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

  

	 	4.1.2	 Acceptance of Grant. A grant of Options offered to an Eligible Individual pursuant to
Section 4.1.1 may only be accepted by the Eligible Individual within thirty (30) days after the relevant Option Grant Date and not later than 5.00 p.m. on the thirtieth (30th) day from
such Option Grant Date (a) by completing, signing and returning to the Company the Option Grant Agreement, subject to such modification as the Committee may from time to time determine, accompanied by payment of S$0.01, to the extent required
by Applicable Law, or such other amount and such other documentation as the Committee may require as consideration and (b) if, at the date on which the Company receives from the Eligible Individual the Option Grant Agreement in respect of the
Option as aforesaid, he or she remains eligible to participate in the ESO Plan 2016 in accordance with the terms and conditions set out therein. 

The Eligible Individual may accept or refuse the whole or part of the offer. The Committee shall, within fifteen (15) business days of
receipt of the Option Grant Agreement and consideration, acknowledge receipt of the same. 
  

	 	4.1.3	 Lapse of Grant. Unless the Committee determines otherwise, an offer of a grant of an Option shall
automatically lapse and become null, void and of no effect and shall not be capable of acceptance if: 

  

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

  

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

 

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

  

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

  
 8 

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

  

	 	4.1.4	 Rejection of Acceptance. The Company shall be entitled to reject any purported acceptance
of a grant of an Option made pursuant to Section 4.1 which does not strictly comply with the terms of the ESO Plan 2016. 

  

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

 

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

 

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

  

	4.4	 Exercise Price. The Exercise Price of any Option granted under the ESO Plan 2016 shall be the
price as specified in the Option Grant Agreement, such amount (which may be nil) to be determined by the Committee in its absolute discretion in connection with the grant. Options, once granted, may be repriced only in accordance with the applicable
requirements of the ESO Plan 2016 and Applicable Law. 

  

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

  

	 	4.5.1	 Time-Based Options. The Committee may provide in the Option Grant Agreement that part or all of
an Option granted under the ESO Plan 2016 is a Time-Based Option. For the purposes of this plan, a “Time-Based Option” shall mean an Option which is subject to time-based vesting conditions as set forth in the Option Grant
Agreement as may be varied or accelerated by the Committee at its sole discretion. Unless the Committee provides otherwise, the vesting of the Time-Based Option may be suspended during any leave of absence. 

  
 9 

	 	4.5.2	 Performance-Based Options. The Committee may provide in the Option Grant Agreement that part or
all of an Option granted under the ESO Plan 2016 is a Performance-Based Option. For the purposes of this plan, a “Performance-Based Option” shall mean an Option that vests in accordance with the performance conditions
set forth in the applicable Option Grant Agreement as may be varied or accelerated by the Committee at its sole discretion. The Committee may in its absolute discretion also additionally impose time-based vesting conditions on such
Performance–Based Options, which shall be set forth in the Option Grant Agreement. In addition, the Committee may, in its absolute discretion, adjust the performance conditions to some or all of the Performance-Based Options as set forth in the
Option Grant Agreement in the event of exceptional circumstances outside of management’s control which may materially affect the Group’s performance such that the Participants do not receive or suffer an undue advantage or disadvantage (as
the case may be). 

  

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

 

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

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

  
 10 

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

 

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

  

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

For the purposes of this Section 4.7(a), an unfair benefit may, in the absolute discretion of the Committee, be considered to arise where
an Option, which would not have otherwise vested, vests or remains capable of vesting as a result of such circumstances. 
 For the purposes
of this Section 4.7(b), such circumstances are limited to: 
  

	 	(A)	 fraud or dishonesty on the part of the Participant; 

 

	 	(B)	 breach of any obligations owed by the Participant to the Group; 

 

	 	(C)	 bankruptcy of the Participant; or 

 

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

 

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

 

	4.9	 Termination of Employment.  

 

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

  

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

  
 11 

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

  

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

  

	4.10	 Exercise of Options. Subject to Section 3.3 hereof, a Participant (or his or her legal
representative, if applicable) may exercise any or all of his or her (or its) vested Options only during the period (i) beginning on the date upon which the relevant Option vests pursuant to the ESO Plan 2016 or the applicable Option Grant
Agreement and (ii) ending on the date on which the relevant Option expires in accordance with Section 4.8 hereof. The Participant (or his or her legal representative, if applicable) may effectuate any such exercise by serving an Exercise
Notice on the Company as provided in Section 4.11 hereof. 

  

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

  

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

  
 12 

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

  

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

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

Subject to the terms of the ESO Plan 2016, Section 5.2 and any conditions specified by the Committee in its sole discretion in the Option
Grant Agreement, as soon as practicable upon the valid exercise of an Option in compliance with this Section 4.11, the Company shall issue or procure the issue or, as the case may be, transfer or procure the transfer to the Participant such
number of Ordinary Shares with respect to which the Option was exercised. The Company shall be entitled to reject any purported exercise of an Option pursuant to this Section 4.11 if the Exercise Notice does not strictly comply with the terms
of the ESO Plan 2016. 
 Ordinary Shares issued by the Company on the exercise of an Option in accordance with this Section 4.11 shall
be issued as fully paid and recorded as such in the Company’s Register of Members and the subscription price for such issued Ordinary Shares shall be equal to the Exercise Price of the exercised Options, provided that, if applicable, where the
Exercise Price for the exercise of an Option is less than the par value of the Ordinary Shares to which such Option relates, the issue price of such Ordinary Shares shall be deemed to be equal to the par value of such Ordinary Shares and the Company
shall issue such Ordinary Shares credited as fully paid and recorded as fully paid in the Company’s Register of Members. 

  
 13 

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

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

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

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

  

	4.14	 Changes in and Distributions With Respect to Ordinary Shares.

  

	 	4.14.1	 Basic Adjustment Provisions. In the event of a share dividend, share split or combination of
shares (including a reverse stock split), recapitalisation or other change in the Company’s capital structure, the Committee shall make appropriate adjustments, as determined by the Committee in its absolute discretion to (a) the maximum
number of Ordinary Shares specified in Section 3 that may be delivered under the ESO Plan 2016, (b) the number and kind of shares of stock or securities subject to Options then outstanding or subsequently granted, (c) the exercise prices
relating to Options and (d) any other provision of Options affected by such change to prevent the enlargement or dilution of rights with respect to the number of Ordinary Shares subject to grant under the ESO Plan 2016, the number of Ordinary
Shares subject to the Options and/or the Exercise Price per share of Ordinary Shares, provided that such power shall be subject to the Articles and Applicable Law. 

  
 14 

	 	4.14.2	 Certain Other Adjustments. The Committee shall also make adjustments of the type described in
Section 4.14.1 above to take into account distributions to shareholders other than those provided for in Section 4.14.1, or any other event, if the Committee determines that adjustments are appropriate to avoid distortion in the operation
of the ESO Plan 2016 and to preserve the value of Options granted hereunder, where applicable. In addition, in the event of a corporate acquisition or similar corporate transaction involving the Company, its subsidiaries or their Affiliates, the
Committee may, in its absolute discretion (i) provide for the cancellation of any such Option in exchange for either an amount of cash or other property with a value equal to the amount that could have been obtained upon the exercise of the
vested portion of such Option or realization of the Participant’s rights under the vested portion of such Option, as applicable; provided that, if the amount that could have been obtained upon the exercise of the vested portion of such Option
or realization of the Participant’s rights, in any case, is equal to or less than zero, then the Option may be terminated without payment, (ii) provide that such Option be assumed by the successor or survivor corporation, or a parent or
subsidiary thereof, or shall be substituted for by awards covering the stock of the successor or survivor corporation, or a parent or subsidiary thereof, with appropriate adjustments as to the number and kind of shares and/or applicable exercise or
purchase price, in all cases, as determined by the Committee in its absolute discretion, (iii) replace such Option with other rights or property selected by the Committee in its absolute discretion (iv) provide that the Option will
terminate and cannot vest, be exercised or become payable after the applicable event or (v) make such adjustments to the vesting conditions applicable to any outstanding Options as it reasonably determines in good faith are appropriate to avoid
distortion in the value of such Options. 

  

	 	4.14.3	 Continuing Application of Plan Terms. References in the ESO Plan 2016 to Ordinary Shares
will be construed to include any shares or securities resulting from an adjustment pursuant to this Section 4.14. 

  
 15 

	4.15	 Increase or Decrease in Issued Shares Without Consideration. Subject to any required
action by the shareholders of the Company, in the event of any increase or decrease in the number of issued Ordinary Shares resulting from a subdivision or consolidation of Ordinary Shares, or any other increase or decrease in the number of such
shares effected without receipt of consideration by the Company (including the payment of an extraordinary dividend), the Committee shall make such adjustments as it determines in its absolute discretion to prevent the enlargement or dilution of
rights with respect to the type and number of shares subject to grant under the ESO Plan 2016, including, but not limited to, the number of Ordinary Shares to be subject to the Options and/or the Exercise Price per Ordinary Share, provided that such
power shall be subject to the Articles and Applicable Law. The Company may, in the event the Committee has determined an adjustment is necessary pursuant to this Section 4.15, determine instead to pay an equivalent cash bonus to the
Participants upon vesting of the Options in lieu of adjusting such Options, as the Committee may determine in its absolute discretion. 

  

	5.	 MISCELLANEOUS 

 

	5.1	 Rights as Holders of Options. The Participants shall not have any rights as holders with respect
to any Ordinary Shares covered by or relating to the Options granted pursuant to the ESO Plan 2016 until the date the Participants become the registered owners of such Ordinary Shares issued or, as the case may be, transferred in accordance with and
subject to the governing documents of the Company. Except as otherwise expressly provided in Sections 4.14 through 4.15 hereof, no adjustment to the Options shall be made for dividends or other rights for which the record date occurs prior to the
effective date such share is registered. 

  

	5.2	 Amendment of Terms of Options. The Committee may, in its sole discretion, amend the ESO Plan 2016
or terms of any Option, provided, however, that any such amendment shall not impair or adversely affect the Participants’ existing rights under the ESO Plan 2016 in relation to outstanding grants or such Option without such Participant’s
written consent, unless the Committee expressly reserved the right to make such amendment at the time the Option was granted (which shall include, without limitation, the right to adjust or modify outstanding Options (pursuant to Sections 4.14
through 4.15)). For purposes of this Section 5.3, the opinion of the Committee as to whether any amendment would impair or adversely affect the Participants’ existing rights under the ESO Plan 2016 in relation to outstanding grants
of Options shall be final, binding and conclusive. 

  

	5.3	 No Special Employment Rights. Nothing contained in the ESO Plan 2016 shall confer upon the
Participants any right with respect to the continuation of their Employment or interfere in any way with the right of the Company or any of its subsidiaries, subject to the terms of any separate employment agreements to the contrary, at any time to
terminate such Employment or to increase or decrease the compensation of the Participants from the rate in existence at the time of grant. 

  
 16 

	5.4	 Tax Withholding. The Committee is authorised to withhold from any delivery of Ordinary Shares
pursuant to the ESO Plan 2016 or any other payment to a Participant such amounts as are required to be withheld by applicable tax law in connection with any Option. Each Participant shall be responsible for the payment of applicable withholding and
other taxes in cash that may become due in connection with the grant or exercise of an Option. The Committee may permit a Participant to satisfy such obligation through the delivery of Ordinary Shares that have a Fair Market Value equal to the
amount required to be paid, to the extent that the Committee determines that so satisfying such obligation would not adversely impact the Company’s ability to meet its cash obligations. 

 

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

  

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

  

	5.7	 Coordination with Other Plans. Options under the ESO Plan 2016 may be granted in tandem with, or
in satisfaction of or substitution for, other grants under other plans or awards made under other compensatory plans or programs of the Group. 

  

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

 If to the Company: 

PROPERTYGURU GROUP LIMITED 

Paya Lebar Quarter, 1 Paya Lebar Link 

#12-01/04, Singapore 408533 

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

	5.9	 Descriptive Headings. The headings in the ESO Plan 2016 are for convenience of reference only and
shall not limit or otherwise affect the meaning of the terms contained herein. 

  
 17 

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

  

	5.11	 Governing Law. The provisions of, and all claims or disputes arising out of or based upon the ESO
Plan 2016 or any Option Grant Agreement, Option or relating to the subject matter hereof or thereof shall be governed by, and construed and enforced in accordance with, the laws of Singapore, without regard to the provisions governing choice or
conflict of laws or rules that would cause the application of the laws of any other jurisdiction. 

  

	5.12	 Limitation of Liability. Notwithstanding anything to the contrary in the ESO Plan 2016, neither
the Company, nor any subsidiary or Affiliate of the Company, nor the Board or the Committee, nor any person acting on behalf of the Company, any subsidiary or Affiliate of the Company, the Board or the Committee, will be liable to any Participant or
to the estate or beneficiary of any Participant or to any other holder of an Option under any circumstances for any costs, losses, expenses and damages whatsoever and howsoever arising in any event or by reason of any acceleration of income, or any
additional tax (including any interest and penalties), asserted with respect to the Option. 

  

	5.13	 Collection, Use and Disclosure of Personal Data. For the purposes of implementing and
administering the ESO Plan 2016, and in order to comply with any Applicable Laws, the Company will collect, use and disclose the personal data of the Participants, as contained in each Option Grant Agreement and/or any other notice or communication
given or received pursuant to the ESO Plan 2016, and/or which is otherwise collected from the Participants (or their authorised representatives). By participating in the ESO Plan 2016, each Participant consents to the collection, use and disclosure
of his or her personal data for all such purposes, including disclosure of data to related corporations of the Company and/or third parties who provide services to the Company in any country or jurisdisction, and to the collection, use and further
disclosure by such parties for such purposes. Each Participant also warrants that where he or she discloses the personal data of third parties to the Company in connection with the ESO Plan 2016, he or she has obtained the prior consent of such
third parties for the Company to collect, use and disclose their personal data for the abovementioned purposes, in accordance with Applicable Law. Each Participant shall indemnify the Company in respect of any penalties, liabilities, claims,
demands, losses and damages as a result of the Participant’s breach of this warranty. 

  
 18 

	5.14	 Contracts (Rights of Third Parties) Act, Chapter 53B of Singapore. No person other than the
Company or a Participant shall have any right to enforce any provision of the ESO Plan 2016 or any Option Grant Agreement and/or Option by virtue of the Contracts (Rights of Third Parties) Act, Chapter 53B of Singapore. 

  
 19 

 EXHIBIT A - FORM OF OPTION GRANT AGREEMENT 

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

WHEREAS: 
  

	(A)	 The Company has adopted and maintains the PropertyGuru Group Limited Employee Stock Option Plan 2016 (the
“ESO Plan 2016”) to promote the interests of the Company and its subsidiaries (collectively the “Group”) by providing selected employees and directors of the Group with an appropriate incentive to
encourage them to continue in the employ of the Group and to improve the growth, profitability and financial success of the Group. 

  

	(B)	 The ESO Plan 2016 provides for the grant to Participants of Options to purchase or subscribe for Ordinary
Shares. 

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

	1.	 Grant of Options. Pursuant to, and subject to, the terms and conditions set forth herein
and in the ESO Plan 2016, the Company hereby grants to the Participant an Option (the “Option”) with respect to [●] Ordinary Shares. [In consideration for the grant of Options the Participant shall make a payment of S$0.01 to
the Company.] 

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

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

  

	3.	 Incorporation of ESO Plan 2016. All terms, conditions and restrictions of the ESO Plan
2016, as amended from time to time, are incorporated herein and made part hereof as if stated herein. If there is any conflict between the terms and conditions of the ESO Plan 2016 and this Agreement, the terms and conditions of the ESO Plan 2016,
as interpreted by the Committee, shall govern, except to the extent this Agreement expressly changes the default provisions contained in the ESO Plan 2016, in which case the provisions of this Agreement shall govern. All capitalised terms used and
not defined herein shall have the meaning given to such terms in the ESO Plan 2016. 

  
 20 

	4.	 Exercise Price. The exercise price of each Ordinary Share underlying the Option hereby
granted is SGD$[●], subject to any requisite adjustments in accordance with the terms of the ESO Plan 2016. 

  

	5.	 Additional Terms of the Option. 

 

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

 [●] 
  

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

 [●] 
  

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

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

 

	6.	 Term of Option; Expiration. The Option shall expire in accordance with the provisions of
the ESO Plan 2016. 

  

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

  
 21 

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

  

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

  

	10.	 Restrictive Covenants.  

 

	(a)	 In consideration of the Participant’s Employment with the Company and as a condition of the grant of an
Option pursuant to this Agreement, the Participant makes the following covenants described in this Section 10. Notwithstanding anything in the ESO Plan 2016 or this Agreement to the contrary, in the event that the Participant violates any of
the provisions of this Section 10, he or she shall forfeit the Option in full (regardless of the extent to which the Option is vested at the time of such violation). 

 

	(b)	 Non-Competition;
Non-Solicitation; Confidential Information. In addition to what may otherwise be provided in the Participants’ Employment agreement with the Company or any subsidiary of the Company, the
Participant, in consideration of the grant of Options to him or her under the ESO Plan 2016, undertakes that he or she shall not during the Participant’s Employment and for the 12 month period following the termination of the Participant’s
Employment compete by doing or permitting any of the following without the prior written consent of the Company in countries where the Company has a business presence, and acknowledges and agrees that a violation of this restrictive covenant will
entitle the Company to terminate all his or her rights under the ESO Plan 2016 and/or any outstanding grant: 

  

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

  
 22 

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

  

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

  

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

  

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

  
 23 

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

  

	11.	 Integration. This Agreement, and the other documents referred to herein or delivered pursuant
hereto which form a part hereof contain the entire understanding of the parties with respect to its subject matter. There are no restrictions, agreements, promises, representations, warranties, covenants or undertakings with respect to the subject
matter hereof other than those expressly set forth herein and in the ESO Plan 2016. This Agreement, including without limitation the ESO Plan 2016, supersedes all prior agreements and understandings between the parties with respect to its subject
matter. 

  

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

  

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

 

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

  
 24 

	15.	 Participant Representations; Acknowledgments. The Participant hereby acknowledges receipt of a
copy of the ESO Plan 2016. The Participant hereby acknowledges that all decisions, determinations and interpretations of the Committee in respect of the ESO Plan 2016, this Agreement and the Option shall be final and conclusive. The Participant
further acknowledges that if, following the date the Participant receives the Option pursuant to this Agreement, the Company determines that any of the representations made by the Participant under this Section 15 is inaccurate, the grant of
the Option to the Participant pursuant to this Agreement may, in the sole discretion of the Board, be rescinded and deemed null and void. 

  

*        
*        *        *        * 

IN WITNESS WHEREOF, the Company has caused this Agreement to be duly executed by its duly authorised officer and said Participant has hereunto signed
this Agreement on his or her own behalf, thereby representing that he or she has carefully read and understands this Agreement and the ESO Plan 2016 as of the day and year first written above. 

 

	
	PROPERTYGURU GROUP LIMITED
	
	
                 

	By:
	Title:
	
	PARTICIPANT
	
	
                    
 

	[Participant’s name]

  
 25

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