Ryde Group Ltd - Issuance of Class B Ordinary Shares

On May 18, 2026, Ryde Group Ltd issued 3,500,000 Class B Ordinary Shares to its Founder, Chairman, and CEO, Mr. Terence Zou. This issuance followed the satisfaction of performance-based milestones, specifically the successful completion of a $2 million registered direct offering on December 3, 2025, and a $12 million private offering on December 9, 2025. Each Class B Ordinary Share carries 10 votes, while Class A Ordinary Shares have one vote. Post-issuance, Mr. Zou will beneficially own 19,677,175 Class B Ordinary Shares, representing approximately 11.59% of the total issued and outstanding share capital but 56.74% of the aggregate voting power. The total issued shares are 169,726,306, comprising 150,049,131 Class A and 19,677,175 Class B Ordinary Shares. The Class B shares are not listed on the NYSE American market.