Baidu : STABILIZING ACTIONS AND END OF STABILIZATION PERIOD

Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange") and Hong Kong Securities Clearing Company Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

This announcement is made pursuant to section 9(2) of the Securities and Futures (Price Stabilizing) Rules (Chapter 571W of the Laws of Hong Kong). This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for any securities.

This announcement is not for release, publication, distribution, directly or indirectly, in or into the United States (including its territories and possessions, any state of the United States and the District of Columbia). This announcement does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933 as amended from time to time (the "U.S. Securities Act"). Any public offering of our securities to be made in the United States will be made by means of a prospectus that may be obtained from us and that will contain detailed information about us and our management, as well as financial statements. We have completed a public offering of the securities described herein in the United States pursuant to our shelf registration statement on Form F-3ASR filed with the United States Securities and Exchange Commission on March 9, 2021.

Unless otherwise defined in this announcement, capitalized terms used herein shall have the same meanings as those defined in the prospectus dated March 12, 2021 (the "Prospectus") issued by Baidu, Inc. (the "Company").

The Company is controlled through weighted voting rights. Prospective investors should be aware of the potential risks of investing in a company with a WVR structure, in particular that the WVR beneficiary, whose interests may not necessarily be aligned with those of our shareholders as a whole, will be in a position to exert significant influence over the outcome of shareholders' resolutions, irrespective of how other Shareholders vote. Prospective investors should make the decision to invest in the Company only after due and careful consideration. Our American depositary shares, each representing eight of our Class A ordinary shares, are listed on the Nasdaq Global Select Market in the United States under the symbol BIDU.

Baidu, Inc.

百度集團股份有限公司

(A company controlled through weighted voting rights and incorporated in the Cayman Islands with limited liability)

(Stock Code: 9888)

STABILIZING ACTIONS AND END OF STABILIZATION PERIOD

We hereby announce that the stabilization period in connection with the Global Offering ended on April 16, 2021, being the 30th day after the last day for lodging applications under the Hong Kong Public Offering.

Merrill Lynch (Asia Pacific) Limited, as the Stabilizing Manager, or any person acting for it during the stabilization period, has undertaken the following stabilizing actions:

1. over-allocationsof an aggregate of 14,250,000 Shares in the International Offering, representing 15% of the Offer Shares initially offered under the Global Offering (before any exercise of the Over-allotment Option);
2. the borrowing of an aggregate of 14,250,000 Shares from Baidu Holdings Limited pursuant to the Stock Borrowing Agreement to cover over-allocations in the International Offering; and

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1. successive purchases of an aggregate of 14,250,000 Shares, representing 15% of the Offer Shares initially offered under the Global Offering, at a price in the range of HK$200.40 to HK$252.00 per Share (exclusive of brokerage of 1.0%, SFC transaction levy of 0.0027% and Stock Exchange trading fee of 0.005%) on the market during the stabilization period, to facilitate the return to Baidu Holdings Limited of all the borrowed Shares under the Stock Borrowing Agreement. The last purchase made by the Stabilizing Manager on the market during the course of stabilization period was on March 30, 2021 at the price of HK$201.80 per Share (exclusive of brokerage of 1%, SFC transaction levy of 0.0027% and Stock Exchange trading fee of 0.005%).

The Joint Representatives (on behalf of the International Underwriters) did not exercise the Over- allotment Option during the stabilization period.

By order of the Board

Baidu, Inc.

Robin Yanhong Li

Chairman of the Board

and Chief Executive Officer

Hong Kong, April 18, 2021

As at the date of this announcement, the board of directors of the Company comprises Mr. Robin Yanhong Li as director, and Mr. James Ding, Mr. Brent Callinicos, Mr. Yuanqing Yang and Mr. Jixun Foo as independent directors.

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