SINGAPORE, November 3, 2026 - Grab Holdings Limited (NASDAQ: GRAB) today announced unaudited financial results for the third quarter ended September 30, 2026.

"We delivered a record 57 million monthly transacting users on our platform this quarter, despite the elevated fuel prices and macroeconomic headwinds across the region," said Anthony Tan, Group Chief Executive Officer and Co-Founder of Grab. “More users are transacting on Grab than ever. Our scale and network efficiencies enable us to make our services more affordable for users, and improve earnings opportunities for our driver- and merchant-partners through our proprietary AI-powered tools and access to financing. Southeast Asia continues to be one of the fastest-growing regions globally and remains under-penetrated. We will accelerate our cross-platform strategy to capture this opportunity and drive durable, profitable growth for Grab.”

"This was another quarter of profitable growth. Group revenue was up 27% YoY or 30% YoY on a constant currency basis, and we recorded our nineteenth consecutive quarter of Adjusted EBITDA growth to a record $237 million. Adjusted EBITDA margin expanded 565 basis points YoY, with Financial Services achieving Adjusted EBITDA profitability for the first time," said Peter Oey, Chief Financial Officer of Grab. “Trailing twelve-month Adjusted Free Cash Flow reached $533 million, nearly double the prior year period. As operating leverage continues to build across our core segments, we are raising our full-year 2026 guidance for Group revenue to $4.15 billion to $4.20 billion, and Adjusted EBITDA to $790 million to $800 million. We are also putting our balance sheet to work for our shareholders and reducing our share count by repurchasing $400 million of shares between September and October.”

● Revenue grew 27% YoY, or 30% YoY on a constant currency basis, to $1,112 million in the third quarter of 2026, driven by growth across all our core segments.

● On-Demand GMV grew 18% YoY, or 22% YoY on a constant currency basis, to $6.8 billion, as On-Demand MTUs and On-Demand GMV per MTU grew by 16% and 2%, respectively.

● Total incentives were $737 million during the quarter. On-Demand incentives as a proportion of On-Demand GMV increased 64 basis points YoY to 10.7%, attributed to continued investments into driver supply and driving adoption of new product launches. On a quarter-on-quarter (“QoQ”) basis, On-Demand incentives as a proportion of On-Demand GMV declined 17 basis points.

● Operating profit in the third quarter increased by 297%, or an $81 million improvement, YoY to $108 million, primarily driven by revenue growth across our core segments, and partially offset by increases in costs of revenue and net impairment losses on financial assets.

● Profit for the period was $18 million, compared to $17 million in the prior year period. Operating profit increased by 297% and was offset by non-operating items, including a $57 million net fair value loss on our financial assets and liabilities and a $12 million impairment loss on an equity-accounted investee. During the quarter, we also observed lower finance income year over year and higher income tax expense. We expect our profit for the period to continue to reflect a degree of variability tied to fair value measurements and other non-operating items.

● Adjusted EBITDA was $237 million for the quarter, up 73% YoY from $136 million in the prior year period, as we improved profitability across our core segments. Adjusted EBITDA margin improved to 21.3% of revenue, expanding 565 basis points YoY from 15.6% in the third quarter of 2025.

● Regional corporate costs3 for the quarter increased by $7 million YoY to $101 million, but declined to 9.2% of Group Revenue from 10.8% in the prior year period. The YoY increase was primarily driven by increases in cloud costs, software costs, and professional fees. On a QoQ basis, regional corporate costs declined by $3 million due to lower staff costs.

● Gross cash liquidity totaled $7.1 billion as of September 30, 2026 compared to $7.4 billion at the end of the prior quarter. Net cash liquidity5 was $5.0 billion as of September 30, 2026 compared to $5.4 billion as of the end of the prior quarter. In September and October, we repurchased $400 million worth of Class A ordinary shares, after which we have $500 million remaining under our share repurchase programs. Upon completion, assuming the current share price level, our cumulative share repurchases since the start of 2024 will total $1.75 billion, allowing us to retire and cancel more than 10% of shares outstanding.

● Operating Cash Flow was $55 million in the third quarter of 2026, an improvement of $182 million YoY, primarily driven by a $404 million increased inflow of deposits from customers in our digital banking business, which was partially offset by a $294 million increase in loans disbursals in the Financial Services segment.

● Adjusted Free Cash Flow was $286 million for the quarter, an $83 million increase YoY, primarily driven by improvements in Adjusted EBITDA. On a trailing twelve months basis, Adjusted Free Cash Flow was $533 million, nearly double the prior year period. Deliveries revenue grew 21% YoY, or 22% YoY on a constant currency basis, to $561 million in the third quarter. Growth was primarily driven by Food and Groceries GMV expansion and improving monetization in our Advertising business.

● Deliveries GMV grew 21% YoY, or 24% YoY on a constant currency basis, to $4,500 million in the quarter, driven primarily by the growth in Deliveries MTUs and Deliveries GMV per MTU.

● Deliveries Segment Adjusted EBITDA grew 58% YoY to $123 million and Deliveries Segment Adjusted EBITDA as a percentage of GMV was 2.7% during the quarter, improving by 65 basis points from 2.1% in the prior year period. The margin expansion was primarily driven by higher Advertising monetization and higher operating leverage.

● Average monthly active Deliveries merchant-partners grew 7% YoY in the third quarter, while average earnings of these merchant-partners grew 15% YoY. Total quarterly active advertisers on our self-serve platform grew 39% YoY, and average spend of these advertisers grew 13% YoY.

● Mobility revenue grew 10% YoY, or 12% YoY on a constant currency basis, to $349 million in the third quarter of 2026. Revenue growth was underpinned by increases in Mobility GMV and continued expansion of Mobility MTUs and transactions.

● Mobility GMV grew 14% YoY, or 17% YoY on a constant currency basis, to reach $2,335 million during the quarter. Mobility transactions grew 21% YoY, outpacing GMV growth, as our affordable offerings brought more MTUs onto the platform.

● Mobility Segment Adjusted EBITDA grew 15% YoY to $207 million. Mobility Segment Adjusted EBITDA as a percentage of Mobility GMV was stable YoY at 8.9% during the quarter.

● During the quarter, active driver-partners grew 4% QoQ and 20% YoY to reach another all-time high as we invested in supply incentives amid efforts to accelerate the transition towards Electric Vehicles (“EVs”). Regional EV penetration reached 18% of completed four-wheel trips, up from 13% in the first quarter of 2026.

● Financial Services revenue grew 124% YoY, or 132% YoY on a constant currency basis, to $201 million in the third quarter of 2026. Revenue growth was primarily driven by increased lending contributions across GrabFin and our Digibanks, including the consolidation of Superbank in June, and the acquisition of Stash beginning this quarter. Total loans disbursed grew 115% YoY to $1.9 billion during the quarter.

● Gross Loan Portfolio scaled 200% YoY to reach $2.7 billion as of the end of the quarter, from $0.9 billion in the prior year period. Excluding contributions from Superbank, Gross Loan Portfolio grew 115% YoY.

● Financial Services Segment Adjusted EBITDA turned positive for the first time, improving by $40 million YoY to $12 million from negative $28 million in the prior year period, reflecting increased revenue contributions from our lending businesses and contributions from Superbank and Stash.

● We are managing credit quality closely as our Gross Loan Portfolio scales. Non-Performing Loans (“NPLs”), measured at 90 days past due, were 2.6% of our Gross Loan Portfolio as of the end of the third quarter of 2026. Our Expected Credit Loss reserves, at 6.5% of our Gross Loan Portfolio as of the end of the third quarter of 2026, covered our NPLs approximately 2.4 times.

● Total customer deposits across GXS Bank (Singapore), GXBank (Malaysia), and Superbank (Indonesia) grew to $2.7 billion at the end of the third quarter of 2026. Other Events

● In October 2026, Taiwan’s Fair Trade Commission (“TFTC”) rejected our previously announced proposed acquisition of Delivery Hero’s foodpanda Taiwan business. As a result, Grab will incur a $60 million break fee, to be recorded in the fourth quarter 2026. The break fee is a merger and acquisition-related cost that will be fully reflected in our IFRS results, recorded before profit for the period, and will be excluded from Adjusted EBITDA, a non-IFRS measure. This expense has no impact on our full-year 2026 Group Revenue and Adjusted EBITDA guidance.

Re-disseminated by The Asian Banker