Table 1

Lalamove Philippines Inc.

Estimated Monthly Income from delivery of goods

Earnings of Driver (per individual) Company Earnings

Commission Average Earning per
Type Earnings-low Earnings-high Average Earning
rate Individual
Motorcycle 6,000.00 30,000.00 18,000.00 16% 2,880.00
SUV/Van 10,000.00 70,000.00 40,000.00 16% 6,400.00
Light Truck 20,000.00 170,000.00 95,000.00 16% 15,200.00

*Based estimated count on the lalamove company website as of May 2020.

Table 2
Grab Holdings, Inc. (Grab Philippines)
Estimated Monthly Income on land transport of individuals (Pre covid)

Earnings of Driver (per individual) Company Earnings

Commission Average Earning per
Type Earnings-low Earnings-high Average Earning rate Individual
Taxi 9,000.00 36,000.00 22,500.00 20% 4,500.00
Car 9,000.00 36,000.00 22,500.00 20% 4,500.00
Car Premium 9,900.00 39,600.00 24,750.00 20% 4,950.00
Pet 10,350.00 41,400.00 25,875.00 20% 5,175.00

*Based on Manila Bulletin article dated February 26, 2020

Table 3
Grab Holdings, Inc. (Grab Philippines)
Estimated Monthly Income on deliveries (from previously land transport to delivery of goods)

Earnings of Driver (per individual) Company Earnings

Commission Average Earning per
Type Earnings-low Earnings-high Average Earning
rate Individual
Taxi 8,100.00 32,400.00 20,250.00 20% 4,050.00
Car 8,100.00 32,400.00 20,250.00 20% 4,050.00
Car Premium 8,910.00 35,640.00 22,275.00 20% 4,455.00
Pet 9,315.00 37,260.00 23,287.50 20% 4,657.50

Assumptions:
a. Income will be 10% lower in delivery of goods than income in land transport of individuals. Despite the increase in deman
logistics of goods during this time, increase in competitions negatively effect the total income.

b. Only 95% of the land transport drivers will be converted to delivery drivers due to possible government and company con
that may hinder full conversion.
Company Earnings
Number Total Income per
Drivers* month
20,800.00 59,904,000.00
12,000.00 76,800,000.00
3,200.00 48,640,000.00
Total 185,344,000.00

Company Earnings
Number Total Income per
Drivers* month
8,400.00 37,800,000.00
23,800.00 107,100,000.00
1,750.00 8,662,500.00
1,050.00 5,433,750.00
Total 158,996,250.00

Company Earnings
Number Total Income per
Drivers month
8,400.00 34,020,000.00
23,800.00 96,390,000.00
1,750.00 7,796,250.00
1,050.00 4,890,375.00
Total 143,096,625.00
als. Despite the increase in demand in
me.

ble government and company controls

Table 4
Grab Holdings, Inc. (Grab Philippines)
Budgeted Monthly Marketing Cost

Total Budget of Marketing 21,464,493.75

Breakdown: Amount %
Direct Expenses on marketing activities 5,209,828.58 24%
Social Media 6,876,973.73 32%
Marketing Employees 4,167,862.86 19%
Marketing analytics & research 3,125,897.15 15%
Overhead cost 2,083,931.43 10%
Total Budget of Marketing 21,464,493.75 100%

Assumptions:
a. Total budget for marketing is 15% of the total revenue which is based on the industry average for consumer service and lo
b. One-third of the budget is dedicated to social media since it is the most effective tool for broader reach
c. Other expenses is based on the industry average for consumer service and logistics as of 2018 by the CMO survey & delloi
 age for consumer service and logistics as of 2018 by the CMO survey & delloite digital.
roader reach
018 by the CMO survey & delloite digital.
Table 5
Grab Holdings, Inc. (Grab Philippines)
Monthly Breakeven Analysis

Revenue 143,096,625.00

Variable Cost Portion:

Cost of services rendered 37,562,864.06
General & Administrative 5,723,865.00
Marketing Expense 4,292,898.75
Other Operating Cost 12,878,696.25
Total Variable Cost 60,458,324.06

Fixed Cost Portion:

Cost of services rendered 12,520,954.69
General & Administrative 22,895,460.00
Marketing Expense 17,171,595.00
Other Operating Cost 12,878,696.25
Interest Expense 1,860,256.13
Total Fixed Cost 67,326,962.06

Contribution Margin:
Revenue (a) 143,096,625.00 a
Total Variable Cost (b) 60,458,324.06 b
Contribution Margin (c ) 82,638,300.94 c=a-b
Contribution Margin % (d) 57.8% d=c÷a

Breakeven Revenue:
Fixed Cost (e ) 67,326,962.06 e
Contribution Margin % (d) 57.8% d
Breakeven Revenue (f) 116,583,484.09 f=e÷d
Table 6
Grab Holdings, Inc. (Grab Philippines)
Monthly Income Statement
Amount Percentage
Revenue 143,096,625.00 100%
Less: Cost of Services 50,083,818.75 35%
Gross Margin 93,012,806.25 65%

Operating Expenses:
General & Administrative 28,619,325.00 20%
Marketing Expense 21,464,493.75 15%
Other Operating Cost 25,757,392.50 18%
Total Operating Expenses 75,841,211.25 53%
Net Operating Income 17,171,595.00 12%

Non-Operating Expenses:
Interest Expense 1,860,256.13 1%
Net Income before taxes 15,311,338.88 11%
Income Taxes 4,593,401.66 3%
Net Income after taxes 10,717,937.21 7%