Grab Holdings Limited · NASDAQ:GRAB
Grab — Q2 2026 Earnings Presentation
27 slides from Grab's earnings presentation, August 2026
Slide 1: Supplemental Data
Supplemental Data August 2026
Slide 2: Disclaimer: Non-IFRS Financial Measures
Disclaimer Non-IFRS Financial Measures This document and the investor webcast include references to non-IFRS financial measures, which include: Adjusted EBITDA, Segment Adjusted EBITDA, Segment Adjusted EBITDA margin, Total Segment Adjusted EBITDA, Adjusted EBITDA margin, Adjusted Free Cash Flow, gr
Slide 3: Disclaimer: Forward-Looking Statements
Disclaimer Forward-Looking Statements This document and the announced investor webcast contain “forward-looking statementsˮ within the meaning of the “safe harborˮ provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contain
Slide 4: Agenda
1 Financial and Operational Highlights 2 Financial Results 3 Outlook 4 Non-IFRS Reconciliation 5 Appendix 4
Slide 5: Financial and Operational Highlights
Financial and Operational Highlights 5
Slide 6: Q2 2026 Financial Highlights
Q2 2026 Financial Highlights Revenue +22% YoY 21% YoY Constant Currency1 On-Demand Gross Merchandise Value2,3 +21% YoY 22% YoY Constant Currency1 Adjusted EBITDA4 $168M 54% YoY Adjusted Free Cash Flow4 $73M $450M on Trailing-12 Month Basis Note: 1. We calculate constant currency by translating ou
Slide 7: Investing in marketplace health improvements amid elevated fuel prices regionally
Investing in marketplace health improvements amid elevated fuel prices regionally 2026 Fuel crisis Monthly Active Drivers and On-Demand Driver Incentives ▉ Monthly Active Drivers MAD ▉ Driver incentives per MAD Monthly Active Drivers (“MADˮ)1 grew 19% YoY to scale to an all-time high On-Demand Dri
Slide 8: Deliveries growth acceleration driven by improving GrabMart user frequency and adoption
Deliveries growth acceleration driven by improving GrabMart user frequency and adoption 54% YoY growth of GrabMart transactions 52% YoY growth of GrabMart online SKUs sold 42% YoY growth of average GrabMart MTUs 1.7x Higher YoY GMV growth of GrabMart1 vs GrabFood Note: Figures as of Q2 2026. 1. Incl
Slide 9: Loan growth accelerated while we continue to remain prudent on credit risk
Loan growth accelerated while we continue to remain prudent on credit risk Gross Loan Portfolio1 +197%2 In $ Millions) YoY ▉ GrabFin, GxS Bank and GX Bank ▉ Superbank On a YoY basis, Gross Loan Portfolio tripled to $2.3B while NPL ratios were stable across our portfolios Total loans disbursed accel
Slide 10: Stash and Superbank continue to scale and drive growth
Stash and Superbank continue to scale and drive growth, reinforcing our Financial Services trajectory Stashʼs Assets Under Management Superbank Gross Loan Portfolio1 In US$ Billions) In US$ Millions, 90 DPD NPL % 5.5 758 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2016 2017 2018 2019 2020 2022 2023 2024 2025 2
Slide 11: Financial Results
Financial Results 11
Slide 12: Q2 2026 Unaudited Results: Consolidated Group
Q2 2026 Unaudited Results Consolidated Group YoY% Change In US$ Millions, unless otherwise stated Q2 2026 Q2 2025 YoY% Change Constant Currency1) Operating Metrics On-Demand GMV2,3 6,463 5,354 21% 22% On-Demand GMV per MTU $ 131 127 3% 4% Group MTU2 (millions of users) 53.9 46.2 17% - 2 Partner i
Slide 13: Q2 2026 Unaudited Results: Net Cash Liquidity
Q2 2026 Unaudited Results Net Cash Liquidity As of Jun 30, As of Mar 31, As of Dec 31, As of Jun 30, In US$ Millions, unless otherwise stated 2026 2026 2025 2025 Cash and cash equivalents 2,859 2,948 3,433 3,880 Add: Other long-term investments 204 139 168 139 Add: Time deposits 1,011 1,443 1,494 1,
Slide 14: Q2 2026 Unaudited Results: Group Financials
Q2 2026 Unaudited Results Group Financials Revenue On-Demand GMV1 Adjusted EBITDA2 In US$ Millions) In US$ Millions) In US$ Millions) % Revenue 13.3% 16.9% 997 6,463 22% YoY 21% YoY 168 21% YoY CC3 22% YoY CC 54% YoY 5,354 819 109 Q2 2025 Q2 2026 Q2 2025 Q2 2026 Q2 2025 Q2 2026 Note: 1. For
Slide 15: Q2 2026 Unaudited Results: Deliveries
Q2 2026 Unaudited Results Deliveries Revenue Gross Merchandise Value1 Segment Adjusted EBITDA2 In US$ Millions) In US$ Millions) In US$ Millions) % GMV1 1.8% 2.3% 4,249 531 22% YoY 21% YoY 24% YoY CC 19% YoY CC3 96 53% YoY 3,471 439 63 Q2 2025 Q2 2026 Q2 2025 Q2 2026 Q2 2025 Q2 2026 Note: 1.
Slide 16: Q2 2026 Unaudited Results: Mobility
Q2 2026 Unaudited Results Mobility Revenue Gross Merchandise Value1 Segment Adjusted EBITDA2 In US$ Millions) In US$ Millions) In US$ Millions) % GMV1 8.7% 8.6% 331 2,214 12% YoY 18% YoY 12% YoY CC3 18% YoY CC 191 295 1,883 16% YoY 164 Q2 2025 Q2 2026 Q2 2025 Q2 2026 Q2 2025 Q2 2026 Note:
Slide 17: Q2 2026 Unaudited Results: Financial Services
Q2 2026 Unaudited Results Financial Services Revenue Gross Loan Portfolio Segment Adjusted EBITDA3 In US$ Millions) In US$ Millions) In US$ Millions) 2,318 % Revenue 30.3% 11.2% 134 197% YoY2 59% YoY 62% YoY CC4 84 781 (15) 41% YoY (26) Q2 2025 Q2 2026 Q2 2025 Q2 2026 Q2 2025 Q2 2026 Note
Slide 18: Q2 2026 Unaudited Results: Incentives
Q2 2026 Unaudited Results Incentives Q2 2026 Q2 2025 Partner Consumer Partner Consumer Total Incentives Total Incentives Incentives1 Incentives1 Incentives1 Incentives1 $ In millions Deliveries 189.6 317.2 506.8 150.1 244.7 394.8 Mobility 126.9 67.8 194.7 89.2 58.5 147.7 Financial Services 0.4 4.2 4
Slide 19: Outlook
Outlook 19
Slide 20: Outlook for 2026
Outlook Outlook for 2026 $4.10B $4.15B 22% 23% YoY 2026 Revenue Previous: $4.04B $4.10B 20% 22% YoY $720M $740M 44% 48% YoY 2026 Adjusted EBITDA1 Previous: $700M $720M 40% 44% YoY Note: 1. Adjusted EBITDA is a non-IFRS measure. For the definition of Adjusted EBITDA, see the secti
Slide 21: Non-IFRS Reconciliation
Non-IFRS Reconciliation 21
Slide 22: Adjusted EBITDA to IFRS Profit for the Period Reconciliation
Adjusted EBITDA to IFRS Profit for the Period Reconciliation Three months ended Six months ended $ in millions, unless otherwise stated June 30, June 30, 20261 20251 20261 20251 Profit for the period 235 20 355 30 Income tax (credit)/expense 43 23 40 37 Share of profit of equity-accounted invest
Slide 23: Adjusted EBITDA to Total Segment Adjusted EBITDA Reconciliation
Adjusted EBITDA to Total Segment Adjusted EBITDA Reconciliation Three months ended Six months ended June 30, June 30, $ in millions, unless otherwise stated 20261 20251 20261 20251 Total Segment Adjusted EBITDA 272 201 540 393 Deliveries 96 63 184 126 Mobility 191 164 389 323 Financial Services 15
Slide 24: Adjusted Free Cash Flow to Net Cash from Operating Activities Reconciliation
Adjusted Free Cash Flow to Net Cash from Operating Activities Reconciliation Three months ended Six months ended June 30, June 30, $ in millions, unless otherwise stated 20261 20251 20261 20251 Net cash from/(used in) operating activities 56 64 3 136 Less: Capital expenditures 49 25 82 60
Slide 25: Appendix
Appendix 25
Slide 26: Definition of Operating Metrics
Appendix Definition of Operating Metrics Gross Merchandise Value GMV) is an operating metric representing the sum of the total dollar value of transactions from Grabʼs products and services, including any applicable taxes, tips, tolls, surcharges and fees, over the period of measurement. GMV includ
Slide 27: Definition of Non-IFRS Financial Measures
Appendix Definition of Non-IFRS Financial Measures Adjusted EBITDA is calculated as profit (loss) for the period adjusted to exclude: (i) net finance income (costs), including interest income (expenses), foreign exchange gain (loss) and changes in fair value of financial assets and liabilities, (ii)