Update on Merger Timeline
On April 13, 2021, we announced our intention to go public in the U.S. in partnership with AGC. In connection with this business combination, we are in
the process of finalizing our financial audit for FY2018, FY2019 and FY2020 in accordance with PCAOB standards as required by the SEC. Concurrently, we are also working with the SEC to obtain pre-clearance of
certain accounting policies and related financial disclosures in accordance with the SECs procedures. As a result, our financial information for these periods remain subject to further review and revision. Upon finalizing this work, in
connection with the business combination with AGC, we expect Grab Holdings Limited (GHL) to file a registration statement on Form F-4, which will include a related proxy statement to be distributed
to AGC shareholders in connection with the business combination, with the SEC in or around the middle of the year and expect to complete the business combination with AGC during the fourth quarter of 2021.
Appointment of Christopher Betts as General Counsel
We
have appointed Christopher Betts as General Counsel. He was previously a partner in the Hong Kong office of Skadden, Arps, Slate, Meagher & Flom, LLP, a New York-based international law firm, where he worked on a variety of equity and debt
offerings and mergers and acquisitions. Mr. Betts brings over 20 years of experience across the Asia Pacific region. He has led and participated in over 60 IPOs and various secondary listings, including landmark transactions for Xiaomi, Meituan
and JD.com. Mr. Betts has also advised companies on post-IPO debt and equity fundraising activities and mergers and acquisitions across various industries. From
mid-2006 to early 2010 he served as associate general counsel for McKinsey & Company, where he covered legal and risk management across the Asia Pacific region.
Forward-Looking Statements
This document includes
forward-looking statements within the meaning of the federal securities laws with respect to the proposed transaction between Grab, GHL and AGC, and also contains certain financial forecasts and projections. All statements other than
statements of historical fact contained in this document, including, but not limited to, statements as to future results of operations and financial position, planned products and services, business strategy and plans, objectives of management for
future operations of Grab, market size and growth opportunities, competitive position, technological and market trends and the potential benefits and expectations related to the terms and timing of the proposed transactions, are forward-looking
statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including anticipate, expect, suggests, plan, believe, intend,
estimates, targets, projects, should, could, would, may, will, forecast or other similar expressions. All forward-looking statements are
based upon estimates and forecasts and reflect the views, assumptions, expectations, and opinions of AGC and Grab, which are all subject to change due to various factors including, without limitation, changes in general economic conditions as a
result of COVID-19. Any such estimates, assumptions, expectations, forecasts, views or opinions, whether or not identified in this document, should be regarded as indicative, preliminary and for illustrative
purposes only and should not be relied upon as being necessarily indicative of future results.