Ryde Group Ltd

Recent Developments

On April 7, 2026, the Company entered into a securities purchase agreement with several investors for a private offering of 37,250,000 Class A Ordinary Shares at US$0.40 per share. The offering closed on April 13, 2026, with gross proceeds of approximately US$14.9 million.

On May 14, 2026, the Company announced that it had received a letter from NYSE Regulation dated May 13, 2026, confirming that the Company is back in compliance with all of the NYSE American LLC continued listing standards set forth in Part 10 of the NYSE American Company Guide (“Company Guide”). Specifically, the Company has resolved the continued listing deficiency with respect to Section 1003(a)(ii) of the Company Guide referenced in the Exchange’s letter dated May 21, 2025 since it demonstrated compliance with the continued listing standards for a period of two consecutive quarters pursuant to Section 1009(f) of the Company Guide.

The Company will be subject to NYSE Regulation’s normal continued listing monitoring. However, in accordance with Section 1009(h) of the Company Guide, if the Company is again determined to be below any of the continued listing standards within 12 months of the date of the letter, NYSE American will examine the relationship between the two incidents of noncompliance and re-evaluate the Company’s method of financial recovery from the first incident. NYSE Regulation will then take the appropriate action, which, depending on the circumstances, may include truncating the compliance procedures described in Section 1009 of the Company Guide or immediately initiating delisting proceedings.

The below compliance (“BC”) indicator will no longer be disseminated, and the Company will be removed from the list of NYSE American noncompliant issuers on the Exchange’s website.

On April 7, 2026 and May 18, 2026, the Company issued 3,500,000 Class B Ordinary Shares on each date to its Founder, Chairman and Chief Executive Officer, Mr. Terence Zou, following the satisfaction of performance-based milestones under the award authorized by the Board of Directors on October 10, 2025. On July 2, 2026, the Company issued a further 10,500,000 Class B Ordinary Shares to Mr. Zou under the same award. Mr. Zou holds these shares through ABJZ Holding Ltd, a company wholly owned by him. For more information, see Notes 13 and 15(a) to the financial statements.

For other events after June 30, 2026, see Note 15 to the financial statements. These include the approval by shareholders on September 29, 2026 of an increase in the authorized share capital and of a 1-for-150 reverse share split to be effected on December 4, 2026.

Mr. Lang Chen Fei resigned as Chief Financial Officer with effect from July 3, 2026, and the board of directors appointed Mr. Tee Kok Siong @ Tommy Tee as Chief Financial Officer with effect from the same date. On September 30, 2026, the board of directors appointed Mr. Ou Yuyang as an executive director.