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2016-11-15

Avis Budget Group and Didi Chuxing Establish Global Strategic Partnership

ablish Global Strategic Partnership

BEIJING and PARSIPPANY, N.J., 2016-11-15 07:00 CET (GLOBE NEWSWIRE) -- Avis
Budget Group (NASDAQ:CAR) has signed a strategic partnership agreement with
Didi Chuxing, the world’s largest mobile transportation platform, to provide
Didi Chuxing’s over 300 million registered users with access to Avis Car Rental
and Budget Car Rental vehicles when traveling in approximately 175 countries.

Through this strategic partnership, Avis Budget Group and Didi Chuxing will
coordinate product, technology and local marketing resources, to provide Didi
Chuxing’s registered users traveling outbound from China with easy and
convenient car rental service — right from Didi Chuxing’s mobile application.
Registered users will be able to book Avis and Budget rentals at airports and
neighborhood locations around the globe.

FU Qiang, Senior Vice President of Didi Chuxing and General Manager for Didi
Car Rental, said, “Internationalization is a clear mission for DiDi. The
partnership with Avis Budget is a key step in DiDi’s broader initiative to go
global as we continue to explore the frontier of innovation with our growing
data capacities. Together, we will provide quality local travel experiences
across the world for China’s fast-expanding outbound traveler community. We
also look forward to building a more connected global mobility network that
builds greater momentum for growth on a spirit of openness and sharing.”

“Like Avis Budget Group, Didi Chuxing is committed to providing its customers
with innovative solutions to make travel as stress-free as possible. This is
even more valuable when traveling internationally,” said Mark Servodidio,
President, International, Avis Budget Group. “This strategic alliance gives us
the opportunity to demonstrate Avis’ world-renowned premium service and the
great value of Budget to Didi Chuxing’s substantial user base.”

Forward-Looking Statements
This press release contains certain forward-looking statements that are subject
to known and unknown risks and uncertainties that could cause actual results to
differ materially from those expressed or implied by such statements. Such
risks and uncertainties include, but are not limited to, the anticipated
benefits of the strategic partnership. Important assumptions and other
important factors that could cause actual results to differ materially from
those in the forward-looking statements are specified in Avis Budget Group’s
Annual Report on Form 10-K for the year ended December 31, 2015, in Avis Budget
Group’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2016
and in other filings and furnishings made by the Company with the SEC from time
to time. Except to the extent required by applicable federal securities laws,
the Company undertakes no obligation to release publicly any revisions to any
forward-looking statements, to report events or to report the occurrence of
unanticipated events.

About Avis Budget Group
Avis Budget Group, Inc. is a leading global provider of vehicle rental
services, both through its Avis and Budget brands, which have more than 10,000
rental locations in approximately 175 countries around the world, and through
its Zipcar brand, which is the world’s leading car sharing network, with more
than one million members. Avis Budget Group operates most of its car rental
offices in North America, Europe and Australia directly, and operates primarily
through licensees in other parts of the world. Avis Budget Group has
approximately 30,000 employees and is headquartered in Parsippany, N.J. More
information is available at www.avisbudgetgroup.com.

About Didi Chuxing
Didi Chuxing is the world’s largest comprehensive one-stop mobile
transportation platform. The company offers a full range of mobile tech-based
mobility options for over 300 million users across over 400 Chinese cities,
including taxi hailing, private car hailing, Hitch (social ride-sharing), DiDi
Chauffeur, DiDi Bus, DiDi Test Drive, DiDi Car Rental and DiDi Enterprise
Solutions. A total of 1.43 billion rides were completed on DiDi’s platform in
2015, making DiDi the world’s second largest online transaction platform next
only to Taobao. In August 2016, DiDi acquired Uber China.

As a practitioner in the sharing economy initiative, DiDi is committed to work
with communities and partners to solve China’s transportation, environmental
challenges and employment problems using big data-driven deep-learning
algorithms that optimize resources allocation. By continuously improving the
user experience and creating social values, we strive to build an open,
efficient, collaborative, and sustainable transportation ecosystem. In 2016,
Didi was included in Fortune’s “Change the World” list; and named one of the
World’s 50 Smartest Companies by MIT Technology Review. In 2015, DiDi was
announced as a Davos Global Growth Company.

Contacts:
Alice Pereira
Avis Budget Group
(973) 496-3916
PR@avisbudget.com

Sun Liang
Didi Chuxing
(86)13552047876
globalpr@didichuxing.com

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