Schedule of share-based payment expenses

RYDE GROUP LTD

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

The share-based compensation for each period relates to the following awards:

 Schedule of share-based compensation

On October 10, 2025, the Board of Directors authorized the allotment and issuance to Mr. Terence Zou of up to 30,000,000 Class B Ordinary Shares under a performance-based award granted on October 2, 2025. Of these, 28,000,000 are contingent upon the successful completion of the Company’s planned US$40 million fundraising by June 30, 2026, issuable in eight tranches of 3,500,000 shares at fundraising milestones ranging from US$5 million to US$40 million, and 2,000,000 are contingent upon confirmation that the Company’s revenue growth in the first half of 2025 exceeded 20% compared to the same period in 2024. The expense for each tranche is measured at US$0.38 per share, the closing price of the Company’s shares on the grant date, and recognized when achievement of its milestone becomes probable.

On April 13, 2026, performance-based milestones for 10,500,000 shares were achieved upon the successful completion of the Company’s US$14.9 million private offering, and S$5,104,000 was recognized for them. The Company determined that the final milestone, for 3,500,000 shares, was not achieved by June 30, 2026, and accordingly no expense has been recognized for those shares. The 7,000,000 Class B Ordinary Shares issued in April and May 2026 were for milestones achieved, and expensed, in 2025. As of June 30, 2026, 14,000,000 Class B Ordinary Shares for milestones already achieved had not been issued, and the related credit was recorded in additional paid-in capital. Of these, 10,500,000, for one milestone achieved in December 2025 and two achieved in April 2026, were issued on July 2, 2026 (Note 15(a)). The other 3,500,000, for the third milestone achieved in April 2026, have not yet been issued.

RYDE GROUP LTD

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS