CAR : CLARIFICATION ANNOUNCEMENT

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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)

CLARIFICATION ANNOUNCEMENT

This announcement is made by CAR Inc. (the "Company") pursuant to rule 13.10 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The Company noted certain recent media reports on August 20, 2020, which mentioned that a negotiation of proposed privatization of the Company has been coordinated by MBK Partners ("MBK"), where MBK is currently under discussion with Beijing Automotive Group Co., Ltd. in this regard.

The Company wishes to clarify that the Company is not in discussion with MBK in relation to any privatization transactions. The Company is not in the position to comment on MBK's discussion with other third parties as the Company is not involved in such discussion.

Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company.

By Order of the Board

CAR Inc.

Yifan Song

Executive Director

Hong Kong, August 21, 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.