Grab Holdings Limited · NASDAQ:GRAB
Grab — Q1 2023 Earnings Presentation
23 slides from Grab's earnings presentation, May 18, 2023
Slide 1: Q1 2023 Earnings Call
Q1 2023 Earnings Call May 2023
Slide 2: Disclaimer: Forward-Looking Statements
Disclaimer Forward-Looking Statements This document and the announced investor webcast contain “forward-looking statements" within the meaning of the “safe harbor” provisions of the US. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact containe
Slide 3: Disclaimer: Operating Metrics
Disclaimer This document and the investor webcast also includes “PreinterCo” data that does not reflect elimination of intragroup transactions, which means such data includes earnings and other amounts from transactions between entities within the Grab group that are eliminated upon consolidation. S
Slide 4: Business Update, Financial Results, Outlook, Non-IFRS Reconciliation
Business Update Financial Results Outlook Non-IFRS Reconciliation
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Slide 6: Q1 2023 Financial Performance
Driving sustainable growth Q1 2023 Financial Performance Mobility and Deliveries Improvement in Adjusted (1) Revenue Gross Merchandise Value’) EBITDA Loss‘) YoY YoY YoY Adjusted EBITDA margin?) of (1.3)% °%, 4) % (4) EDITL +139% YoY Constant Currency +9% YoY Constant Currency +464 Basis Points Impro
Slide 7: Recovery in tourism ride-hailing demand
Business Uedate Recovery in tourism ride-hailing demand Airport Mobility Rides” (Quarterly) Initial wave of Delto-variant impact mere +133% —_ 7" (7 (Q12023 vs Q1 2022) COVID-19 restrictions —— Total airport mobility rides increased 133% YoY in Q1 2023 Significant headroom to grow with airport rides
Slide 8: Continued focus on improving driver supply
Business Update Continued focus on improving driver supply Total Active Driver Online Hours™ +14% (Quarterly) (Q1 2023 vs Q1 2022) gr O22 O38 4 QI 2 QB 4 I Q2 QB KA 2020 2020 2020 2020 2021 2021 2021 2021 2022 2022 2022 2022 2023 Total active driver online driver hours” increased 14% YoY in Q1 2023
Slide 9: Strong rebound in Deliveries demand
Business Uedate Strong rebound in Deliveries demand Deliveries Transactions™ (Weekly) ee New Year nen Strong rebound in Deliveries demand after Chinese New Year and the Ramadan fasting period 2-. 16-. sen a ee 13-1 re ” me 13-1 wer 27- wer 10-1 ner 24- er Note: 1. Calculated.as the total number of D
Slide 10: On track to achieving breakeven timeline
Business Update On track to achieving breakeven timeline Deliveries Segment Adjusted EBITDA” margin Group Adjusted EBITDA") marginas a as a proportion of GMV) proportion of GMV’2) +476bps y Q12022 §Q22022. »=—Q32022.)-Q42022. = Q12023 y= = (1.4)% (2.2)% (6.0)% 2.6% | 20% [ (1.3)% 0.4% (2.2)% n — (3.
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Slide 12: Q1 2023 Results: Consolidated group
Q1 2023 Results Consolidated group YoY% Change Q1 2023” Q12022 YoY% Change = (Constant Q1 2023” Currency?) $ in millions, unless otherwise stated % of GMV Operating Metrics GMV8) 4,958 4,805 3% 7% - MTU® (millions of users) 33.3 30.9 8% - - GMV per MTU ($) 149 5 (4)% 0% - Partner Incentives®) 169 21
Slide 13: Segment Adjusted EBITDA to IFRS Net Loss
Q1 2023 Results Segment Adjusted EBITDA to IFRS Net Loss Q12023 Q12022) $ in millions, unless otherwise stated Total Segment Adjusted EBITDA(®) (non-IFRS) 150 (75) Regional Corporate Costs®) (216) (212) Adjusted EBITDA®) (non-IFRS) (66) (287) Non-cash expenses (172) (117) Cash expenses (12) (31) Los
Slide 14: Net Cash Liquidity
Q1 2023 Results Net Cash Liquidity $ in millions, unless otherwise stated Cash & cash equivalents Add: Other Long-term Investments Add: Time deposits Add: Cash investments Cash Liquidity?) Less: Loans and borrowings Net Cash Liquidity As of Mar 31, 2023) 2,351 29 2,585 709 5,774 (781) 4,993 As of C
Slide 15: Q1 2023 Results: Deliveries
Q1 2023 Results Deliveries Revenue") Gross Merchandise Value?) Segment Adjusted EBITDA“) % GMV?) (2.2%) 2.6% 275 2,562 29344 nnn +203% YoY ° -9% YoY +217% YoY (CC?!) -4% YoY (co) 60 +US$TI6OM 91 (56) Q1 2022 Q12023 Q1 2022 Q12023 Q1 2022 Q12023 Note: 1, Deliveries Revenues benefited in Q120; the del
Slide 16: Q1 2023 Results: Mobility
Q1 2023 Results Mobility Revenue Gross Merchandise Value Segment Adjusted EBITDA) 194 1,218 % GM 9.8% 12.4% $46%YOY eee eee - +72% YoY 477% YoY (CC®) *51% YoY (CC) 152 +85% YoY Q1 2022 Q12023 Q12022 Q12023 Q12022 912023 Note Gross Merchandise Valu an operating metric repesentng the sum ofthe ota dol
Slide 17: Q1 2023 Results: Financial Services
Q1 2023 Results Financial Services Total Payments Volume Revenue (Pre-Interco)™ Segment Adjusted EBITDA) 338 3,658 % TPVO) (28%) (1.9)% +233% 17 a ) ee woassnvoy nee) 3,600 ssxvovicoy 1,357 Q12022 Q1 2023 Q1 2022 Q1 2023 mOff-Grob_ mOn-Grab (70) +32M YoY (102) Q12022 Q12023 Note: 1. Total Payments V
Slide 18: Q1 2023 Results: Enterprise and New Initiatives
Qi 2023 Results Enterprise and New Initiatives Revenue Gross Merchandise Value Segment Adjusted EBITDA) 18 +29% YoY 52 + 3 33% YoY (CC3)) 41 -21% YoY -I7% YoY (CC) Q12022 Q12023 Q1 2022 Q1 2023 % GMV) 2.0% 19.9% +676% YoY 1 || Q1 2022 Q1 2023 Value is an operating metric representi EBITDA isa non-IF
Slide 19: Q1 2023 Results: Incentives
Q1 2023 Results Incentives $ In millions Base Excess Consumer Total Base Excess Consumer Total Incentives” —_Incentives”)_Incentives®) Incentives Incentives Incentives?) _Incentives®) Incentives Deliveries 16.9 95.8 160.0 272.6 151 153.6 250.0 418.7 Mobility 50.8 56 35.7 92.0 25.2 27 35.9 82.9 Finan
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Slide 21: Outlook for 2023
Outlook Outlook for 2023 $2.20B - $2.30B 2023 Revenue 54% - 60% YoY (Unchanged) . $(195M) - $(235M) 2023 Group Adjusted EBITDA” (Previous: $(275M) - $(325M)) Q4 2023 (Unchanged)
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Slide 23: Adjusted EBITDA to IFRS Loss for the Period Reconciliation
Adjusted EBITDA to IFRS Loss for the Period Reconciliation Three months ended otherwise stated Net interest (income) / expenses (1) 27 Other income () (2) Income tax expense 1 1 Depreciation and amortization 35 34 Share-based compensation expenses 103 121 Unrealized foreign exchange gain (2) 10} Imp