Grab: Grab : 2024 Report (Grab ESG Report 2024)

Group CEO's Letter Planet Appendix Grab ESG REPORT 2024 Building an ecosystem for all Table of Content Group CEO's Letter 3 2024 Key ESG Highlights 4 About the Grab Ecosystem 5 Grab's Ecosystem Journey 6 Grab's ESG Strategy: An Impact Flywheel 7 Awards and Accolades 8 ESG Governance 9 Partner: Sustainable Partner Livelihoods 11 1 Prioritising Partner Welfare 12 2 Driving Financial Inclusivity 28 3 Breaking Barriers for Equal Opportunity 34 4 Working with Local Regulators 40 Platform: Safe & Trusted Platform 44 1 Enhancing Platform Safety 45 2 Strengthening Cybersecurity 49 3 Protecting Data Privacy 51 Planet: A Lasting Planet 53 1 Mitigating Greenhouse Gas Emissions 54 2 Minimising Air Pollution 62 3 Managing Water Use Responsibly 62 4 Advancing Sustainable Packaging Solutions 63 People & Culture 66 1 Cultivating a Mission and Values-Driven Culture 67 2 Fostering a Thriving Workforce 67 3 Empowering Growth Through Learning and Development 69 4 Caring for Our Employees' Well-Being and Safety 71 Appendix 72 We are also investing in greener mobility. Today, Grab operates the largest ride-hailing electric vehicle (EV) fleets in both Thailand and Indonesia, with over 10,000 EVs in each market . These vehicles reduce emissions while helping our partners better manage their operational costs. We have made it easier for our users to participate in environmental efforts too. Through our 'Green Programme' feature, users have helped plant over 1.2 million trees 5 across GrabForGood Forests and nature conservation areas in the region since 2021. " We have made great strides in Building an Ecosystem for All-one that uses technology to unlock new possibilities, supports those who need it most, and grows sustainably alongside the communities we serve. " But we know this is just the beginning. Together with our stakeholders and partners, we will continue to unlock opportunities and create thriving communities. Anthony Tan Group CEO, Co-Founder and Chairman, Grab Grab | ESG Report 2024 Group CEO's Letter 2024 Key ESG Highlights ESG Governance Partner Platform Planet People Appendix Group CEO's Letter At Grab, we are focused on creating meaningful impact-for our users and partners, and for the broader community we serve. In 2024, we partnered with leading research agencies to better understand our economic contribution. According to these studies, Grab's mobility and delivery services generated over USD 18.8 billion in economic value across the six largest economies in Southeast Asia-equivalent to 0.5% of their combined GDP1 . We are humbled by these findings. They remind us of the responsibility we carry, and the potential we can unlock when people, technology, and shared purpose come together. Scaling Impact Through an Ecosystem Approach At the heart of our impact is our ecosystem approach-where insights and capabilities from one part of our platform enable and strengthen the others. This has been especially critical in our efforts to drive financial inclusion. Many of our partners face barriers to accessing traditional banking services. By leveraging insights into their earnings and work patterns, our digibanks- GXBank in Malaysia, GXS Bank in Singapore, Superbank2 in Indonesia -and our fintech platform, GrabFin , are helping to bridge this gap. Indeed, we are supporting one in three active driver-partners with affordable, bite-sized loans, giving them the financial flexibility to repair vehicles, meet daily needs, or invest in their livelihoods. For many, this is also their first step towards building a credit history, opening doors to new financial opportunities . Our ecosystem approach is also reflected in Jaya Grocer . Since our acquisition in 2022, we have extended the supermarket chain's reach digitally with GrabMart . In addition, we have boosted demand by strengthening its loyalty programme through GrabRewards , and provided exclusive benefits to GXBank cardholders . And as consumer demand for grocery deliveries grew, so did earning opportunities for our delivery-partners -creating a flywheel effect where each service fuels growth for the others, amplifying value for our users and partners. Enabling Inclusive Growth As we scale, we have also made it a priority to ensure that the progress is inclusive. Our inclusive measures have not only delivered social impact, but also driven business outcomes . For example, in addressing systemic barriers to becoming drivers, we have unlocked untapped driver supply. Across Southeast Asia, women's participation in the workforce remains about 20 percentage points lower than men's 3 . In response, we launched initiatives like the Grab Women Drivers' Programme , offering specialised onboarding, training, and support communities to help women confidently access flexible earning opportunities. We also developed enhanced safety features tailored to their needs, such as enabling them to be more frequently matched with women passengers. We have also made progress in supporting our Partners With Disabilities (PWDs). In 2021, we set a goal to double the number of active PWDs by 2025, and we're proud to have achieved this goal a year ahead of schedule. Today, 5,140 PWDs earn through Grab 4 , and we continue to work with nongovernmental organisations (NGOs) to welcome more PWDs onto our platform. By 2030, we aim to empower 300,000 women and PWD driver-partners to earn through Grab . Building for the Future At the same time, to ensure that we deliver lasting impact, we know we must keep evolving. We are harnessing the latest technologies to ensure sustainable business growth. Embracing AI, we have developed solutions like AI Driver Companion and AI Merchant Assistant , which provide personalised insights and recommendations to help our partners operate more efficiently and boost their earnings. 1 Economic impact studies were conducted in 2024 by independent research agencies across Southeast Asia's six largest economies: Indonesia and Singapore (Oxford Economics), Malaysia (EconWorks), the Philippines (University of Asia and the Pacific), 3 Based on World Bank data in TheGlobalEconomy.com, 2023, Female labor force participation - Country rankings . Thailand (Thailand Development Research Institute), and Vietnam (Central Institute for Economic Management). The studies leveraged Grab's 2023 operational data alongside official national statistics and industry reports, focusing on 3 dimensions: 4 Has at least one completed ride within the year on Grab. We have sought and received limited assurance by KPMG LLP in 2023 (i) contribution to GDP (ii) earning opportunities supported across Grab and Grab's partners' supply chain and (iii) household income supported. and 2024 on our active Partners With Disabilities. 3 2 Grab holds a 30.84% equity interest in PT Super Bank Indonesia. 5 The trees have been or are in progress of being planted in phases across Southeast Asia. Grab | ESG Report 2024 2024 Key ESG Highlights Group CEO's Letter ESG Governance Partner Platform Planet People Appendix 2024 Key ESG Highlights Creating Sustainable Earning Opportunities Enhancing Platform Safety $12.8 billion earned by driver- and merchant-partners on the Grab platform6, up 16% YoY >99% of driver-partners meet or exceed the local hourly minimum wage7 ~600,000 micro, small and medium businesses (MSMEs) were onboarded as merchant- partners in 2024, expanding their market reach and earning opportunities 99.9% 1 in 2 of all rides occurred women driver-partners9 has opted into the without a safety Women Passengers Preferred feature since it was incident8 launched to prioritise women-to-women matching Enabling Transition to Low-Emission Transport Breaking Barriers for Equal Opportunity 135,000 Partners With Disabilities (PWDs) and women driver-partners earned an income through Grab in 202410 Driving Financial Inclusivity $2.2 billion 7% of distance travelled (km) was on low or zero-emission modes of transport for mobility and delivery orders 12 , up from 6.3% YoY >10,000 EVs each in both Indonesia and Thailand 13 , making Grab the largest EV ride-hailing fleet in those countries 4.7% & 1.5% carbon emissions intensity reduction (per km) for mobility and deliveries respectively14 -and we're now setting a target to reach 300,000 by 2030 in loans disbursed 11 , up 46% YoY -providing access to credit for Empowering Beyond Value Chain Impact 5,140 active PWDs15 -achieved the target to double our 2021 baseline one year early the underserved 100% of driver-partners are provided with insurance coverage for work-related accidents >600,000 trees planted 16 in 2024, bringing our total to >1.2M since 2021 >936,000 tonnes of CO₂e avoided through nature-based carbon credits-equal to removing ~200,000 petrol cars from the road for an entire year 17 >8,385 tonnes of waste reduced or recycled 18 Includes earnings by driver-partners and merchant-partners. 'Driver-partner earnings' is defined as the fare, bonuses, tips and fees, net of commission. 'Merchant-partner earnings' is defined as the total order bill, including taxes charged by the restaurant/merchant net of commission, Grab advertising spend and promotion costs. Comparing driver-partners' earnings per transit hour, averaged over a month, after deducting estimated operating expenses such as fuel costs, to the local minimum wage guidance. Includes only driver-partners who drive at least 10 transit hours per month. Refers to all reported safety incidents caused by driver-partners or passengers while on trip across our mobility and delivery businesses. We have sought and received limited assurance for the total reported safety incident rate (31.8 incidents per million rides) from KPMG LLP. Data as at December 2024, and considers driver-partners that have at least one completed ride within the year on Grab. 10 Defined as those who have at least one completed job within the year. Includes loans disbursed by GrabFin, GXS Bank and GXBank. Includes electric and hybrid vehicles, cyclists and w