CAR : SUPPLEMENTAL ANNOUNCEMENT IN RELATION TO THE ANNUAL REPORT FOR THE YEAR ENDED DECEMBER 31, 2019

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CAR Inc.

神 州 租 車 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 0699)

SUPPLEMENTAL ANNOUNCEMENT IN RELATION

TO THE ANNUAL REPORT FOR THE YEAR ENDED DECEMBER 31, 2019

Reference is made to the (1) announcement of the CAR Inc. (the "Company") dated October 18, 2019, in connection with the grant of Options pursuant to the Post-IPO Share Option Scheme (the "Announcement") and (2) annual report of the Company for the year ended December 31, 2019 published on April 1, 2020 (the "2019 Annual Report"). Unless the context otherwise required, capitalized terms used in this announcement shall have the same meanings as those defined in the Announcement and the 2019 Annual Report.

As disclosed in the Announcement and the 2019 Annual Report, a total of 119,747,379 Options were granted to certain eligible persons pursuant to the Post-IPO Share Option Scheme to subscribe for a total of 119,747,379 Shares. As at December 31, 2019, 119,747,379 Options were outstanding under the Post-IPO Share Option Scheme. The fair value of the Options granted under the Post-IPO Share Option Scheme during the year ended December 31, 2019 was HK$248,116,569.29 (i.e., the fair value was HK$2.072 for each Option granted).

The above supplemental information does not affect other information contained in the 2019 Annual Report and save as disclosed above, all other information in the 2019 Annual Report remains unchanged.

By Order of the Board

CAR Inc.

Yifan Song

Executive Director

Hong Kong, August 26, 2020

As at the date of this announcement, the Board of Directors of the Company comprises Ms. Yifan Song as Executive Director; Mr. Linan Zhu, Mr. Zhen Wei and Mr. Leping Yan as Non-executive Directors; and Mr. Sam Hanhui Sun, Mr. Wei Ding and Mr. Li Zhang as Independent Non-executive Directors.