Ryde and Singlife Forge Strategic Partnership That Protects Passengers Beyond Rides

Ryde Group Ltd (NYSE American: RYDE) ("Ryde'' or the “Company"), a technology company with a leading platform for mobility and quick commerce in Singapore, announced a strategic partnership with Singlife, a homegrown financial services company. This collaboration aims to redefine ride-sharing safety and provide unparalleled protection across different insurance services for both riders and driver-partners.

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As a cornerstone of this partnership, RydeSafe, Ryde’s flagship safety initiative for riders, is enhanced with complimentary coverage until 30th September 2024. This unprecedented move underscores both companies’ commitment to prioritizing our rider’s safety.

Enhanced RydeSafe Benefits:

Singlife Ride Cover pays S$15,000 per passenger in the event of a road accident resulting in death.
Singlife Ride Cover pays up to S$15,000 to opt-in passenger in the event of a road accident resulting in total and permanent disabilities.
Singlife Ride Cover pays up to S$1,000 to opt-in passenger in the event of a road accident for accident-related injuries.
Ryde will provide S$20 in RydeCoins for passengers who require emergency assistance due to an accident.

Beyond the immediate benefits, Ryde and Singlife will cross-collaborate to create innovative products and services that cater to the evolving needs of their respective customer bases. By combining their strength in mobility and financial services, the two companies aim to deliver a seamless and rewarding experience for all users.

Terence Zou, CEO and Founder of Ryde Group, shared, "Our partnership with Singlife significantly enhances the value we provide to our users, ensuring their peace of mind for every trip. This collaboration is a perfect fit with our common goal to prioritize user protection, safety and to drive continuous innovation.”

Varun Mittal, Head of Innovation & Ecosystem at Singlife, said: “We are truly delighted to collaborate with Ryde on this exciting initiative. This marks an important milestone in our partnership; to innovate and co-curate Singlife’s Benefits XP together for Ryde’s passengers. It also demonstrates our team’s commitment towards pushing boundaries. This partnership firmly paves the way forward for our Commerce XP proposition, designed specifically for ride-hailing, marketplace and commerce industries.”

About Ryde Group Ltd

Ryde is a super mobility app founded in Singapore and recognised as the world's FIRST on-demand carpooling app since 2014. As a publicly listed company on the NYSE, Ryde is reimagining the way people and goods move around by offering a full suite of services, including carpooling, private hire, taxi, and delivery. What distinguishes Ryde is its commitment to empowering private-hire and taxi partners by taking 0% commission, ensuring that drivers retain more of their hard-earned earnings. For more information, please visit https://rydesharing.com/.

FORWARD-LOOKING STATEMENTS

Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all, and other factors discussed in the "Risk Factors" section of the preliminary prospectus filed with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and Ryde Group Ltd specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240813271874/en/

For Media Relations: Media Team Ryde Group Ltd Email: media@rydesharing.com

For Investor Relations: Investor Relations Team Ryde Group Ltd Email: investor@rydesharing.com

Skyline Corporate Communications Group, LLC Email: info@skylineccg.com

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