Asset Acquisitions and Disposals::Grab to make strategic investment in remote driving technology company, Vay

Issuer & Securities

Issuer/ Manager
GRAB HOLDINGS LIMITED
Securities
GRABHLDGS US$1.5BZ300615 - USG4124CAA74 - 52WB
Stapled Security
No

Announcement Details

Announcement Title
Asset Acquisitions and Disposals
Date &Time of Broadcast
10-Nov-2025 19:35:10
Status
New
Announcement Sub Title
Grab to make strategic investment in remote driving technology company, Vay
Announcement Reference
SG251110OTHR3EX4
Submitted By (Co./ Ind. Name)
Sandra Ng
Designation
Head of Securities and Governance, Legal
Effective Date and Time of the event
10/11/2025 19:30:00
Description (Please provide a detailed description of the event in the box below)
Grab Holdings Limited (Grab) announced that it had signed definitive agreements to invest in Vay Technology GmbH (Vay), a leading provider of automotive-grade remote driving technology, for $60 million in cash. The investment is subject to regulatory approval and other customary closing conditions and is expected to close in the fourth quarter of 2025 (Closing). Upon Closing, Grab will hold a minority equity interest in Vay.

Investment Terms
In Grab s initial investment of $60 million, Vay will issue to Grab new shares and zero-strike warrants that will become exercisable subject to, among other things, achievement of certain milestones over the three-year period after Closing.

In addition, subject to financial and operating milestones, regulatory approvals and other conditions, Grab will increase its equity interest in Vay with an additional $350 million within the first year after Closing. The financial and operating milestones include consumer revenue, U.S. cities covered, technology and safety standards, and obtaining regulatory approvals (where applicable) for operating in additional U.S. cities. This potential additional purchase will consist of acquisition of new shares as well as shares from existing shareholders. If the milestones are not achieved within the initial one-year period after Closing, Grab has the option, but not the obligation, to purchase the additional equity interest.

Three years after Closing, if Grab has completed the purchase of the additional equity interest and all the warrants have become exercisable in accordance with its terms, Grab will potentially own a majority equity interest in Vay on a fully-diluted basis (assuming there has been no share capital change in Vay).

See attached for the detailed announcement.

Attachments

Grab - Announcement of Investment in Vay.pdf
Total size =379K