Ryde Group Ltd , a technology company with a leading platform for mobility and quick commerce in Singapore, announced today the closing of its previously announced initial public offering of 3,000,000 Class A ordinary shares, at a price of US$4.00 per share to the public (the “Offering”), for a total of US$12,000,000 of gross proceeds to the Company, before deducting underwriting discounts and offering expenses.

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The shares began trading on the NYSE American on March 6, 2024 under the symbol “RYDE.” In addition, the Company has granted the underwriters an option, exercisable within 45 days from the closing date of the Offering, to purchase up to an additional 450,000 Ordinary Shares at the public offering price, less underwriting discounts, to cover the over-allotment option, if any.

Maxim Group LLC is acting as the sole book-running manager of the Offering. Sidley Austin LLP is acting as U.S. counsel to the Company, and Ortoli Rosenstadt LLP is acting as U.S. counsel to Maxim Group LLC in connection with the Offering.

A registration statement on Form F-1, as amended (File No. 333-274283) relating to the Offering, as amended, has been filed with the Securities and Exchange Commission (the “SEC”) and was declared effective by the SEC on February 28, 2024. The Offering is being made only by means of a prospectus, forming part of the registration statement.

Copies of the final prospectus related to the Offering may be obtained, when available, from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, New York 10022, by email at [email protected], or by telephone at +1-212-895-3500. In addition, a copy of the final prospectus, when available, relating to the Offering may be obtained via the SEC’s website at www.sec.gov.

Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.