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1

2 CAR Inc. 426,341,000 42,636, ,705, % 0.003% 0.005% C 144AS

3 (1) (2)... (3) (4) (5)... (1) (6)... (2) (3) (7) (8) (1)(2)...

4 (1) (6)... (9) (1) (2) (3) (4) (5) (6) (7) (8) (9)

5 i iii

6 I II-1 III-1 IV-1... V-1

7 52, ,0001,962,000 4 China Auto Rental Google Google % 6.4%24.4% 30.1% 5,500,000 27% 31.2% 8.2%

8 25,84552, GPS %96.9%81.7%74.2% HertzHertz Hertz Hertz OEM OEM 94.9%3.2%1.9% %3.1%18.3%25.8% 101

9 % 31.2% 8.2%1.9% ,000 1,949,0003,500 12, %68.0% 4.3%3.3%5.5%21.2% % 45.6%55.2%42.2% 17.8%14.5%14.6%13.3%104

10

11 (1)... 15,429 26,556 33,475 32,880 35,602 (2) (%) (3) % 59.0% 57.9% 61.1% 61.7% (4) (1) (2) (i)(ii) (iii) (3) (4)

12 , % 1,609, % 2,702, % 1,150, % 1,862, % , % 1,558, % 2,207, % 1,007, % 1,381, %... 43, % 50, % 494, % 142, % 480, % , % 492, % 628, % 314, % 578, %... (150,587) (18.5)% (132,354) (8.3)% (215,941) (8.0)% 3, % 228, %... (151,225) (18.6)% (132,303) (8.3)% (223,365) (8.3)% 1, % 218, % (a) (b)(c) , % 1,208, % 1,714, % 793, % 1,081, % , % 328, % 448, % 201, % 245, %... 2, % 13, % 21, % 9, % 19, % % 8, % 22, % 3, % 35, % , % 1,558, % 2,207, % 1,007, % 1,381, %

13 , , , , , % 31.5% 29.7% 31.4% 40.7%... (5,661) 2,599 (27,223) (1,779) 16, (13.1)% 5.1% (5.5)% (1.2)% 3.5% , , , , , % 30.6% 23.3% 27.4% 31.1% EBITDA A.... (151,225) (132,303) (223,365) 1, , ,148 26, (1,746) (39,100) (15,877) 18, ,082 31,093 6,142 13, (145,143) (102,956) (155,175) (14,227) 277, (18.7%) (6.6%) (7.0%) (1.4)% 20.1%

14 B. EBITDA EBITDA... (150,587) (132,354) (215,941) 3, , , , , , , (1,106) (2,225) (3,284) (1,527) (5,291)... (809) (131) , , , , , ,354 19,358 23,076 12,845 13, ,229 3,088 6,595 3,196 4, ,864 14,667 3,018 1,480 EBITDA , , , , ,397 EBITDA % 44.8% 38.5% 47.6% 53.4% EBITDA EBITDA , , , , , ,148 26, (1,746) (39,100) (15,877) 18, ,082 31,093 6,142 13,854 EBITDA , , , , ,253 EBITDA % 46.7% 41.6% 46.0% 57.6%... 2,698,791 3,789,628 4,401,803 4,607, ,069,082 1,268,667 1,765,268 2,379, ,819,145 4,518,686 4,490,944 3,110, , ,086 1,603,189 1,736, ,826 15,523 72,938 2,139,996

15 ... (1,485,326) (923,976) (590,312) (532,533) 164, (103,160) (52,983) 18,070 46,876 (224,188)... 2,144,669 1,257, , , , , ,672 (59,467) 101, , %34.4%31.3%24.7% (i)(ii) (1) EBITDA (2) EBITDA (3) (%) (4) % 31.5% 29.7% 40.7% (%) (5)... (19.5%) (8.5%) (10.1%) 15.8% (1) (2) EBITDAEBITDA EBITDAEBITDA EBITDAEBITDA EBITDA (3) EBITDAEBITDA (4) (5)

16 8.05(3) 1, ,250.02, ,041.3 (i) (ii) (i) (ii) 12 1, ,774.91, , , ,500 %... 1,350 33% %... 2,000 49%... 4, %

17 (1) 12 44,000 59, , , ,699 16, ,320 9,227 2, ,174 17, ,842 14,936 4, ,131 5,875 36,468 3, ,629 8,685 53,910 3,878 1, ,633 48, ,540 31,261 9,620

18 36.8% 30.0% 29.2% 10.07(1)246 Grand Union Management Grand Union Management LimitedGrand Union Management Limited20% (i)42,636,000(ii) 144AS 383,705,000 (a)2,293,561,070(b) (1)... 17, ,495.3 (2)

19 (1) 2,293,561,070 (2) 2,293,561, ,242 65%2, %6070% 44,00059,000 19% %6.1%6.8% %324 6%182

20 D.1. D. 2. Amber Gem Amber Gem Holdings Limited 18.8%Amber GemWarburg Pincus XI Amplewood Amplewood Resources Limited 1.1%

21 China Auto Rental Inc. 100%

22 CAR Inc.China Auto Rental Inc. Grand Union 36100

23 Grand Joy Grand Joy Worldwide Limited 0.4%

24 Grandsun Grandsun International Investment Limited 0.5% Grand Union Grand Union Investment Fund L.P. 30.0% Haode Group Haode Group Inc. 12.8% Hertz Hertz Investments Ltd.The Hertz Corporation Hertz Holdings Hertz Holdings Netherlands B.V. Hertz % Hertz Hertz Holdings30 Hertz Holdings

25 Hertz Premium Auto RentalHertzHertz HertzHertz HNLH Hertz NL Holdings, Inc Hertz Holdings 42,636,000 1%0.003% 0.005%

26 (a)144a (b) S 383,705,000

27 Grand UnionHertz Rent A Car Holdings (HK) LtdHertz Hertz Hertz Grand Union Grand UnionGrand Union Management LimitedGrand Union Management Limited20%

28 8.50 OEM

29 30 63,951,000 15% Amber GemHertz Grand Union Hertz Holdings Hertz International, Ltd. Amber Gem Sky Sleek Haode Group Grand Joy AmplewoodGrandsun

30 Premium Auto Rental Premium Auto Rental (China) Limited 144A (i) (ii) Hertz Hertz Hertz Hertz Hertz Rent A Car Holdings (HK) LimitedHertz Rent A Car Holdings (HK) Limited Hertz Hertz S S

31 Roland Berger Enterprise Management (Shanghai) Co., Ltd. 144A 144A 571 A Amber GemAmber Gem A Amber Gem Amber Gem A A A

32 Grand UnionGrand JoyAmplewood Grandsun Sky Sleek Sky Sleek Limited 2.3% Haode Group Haode Group 63,951,000 15

33 (i) (ii)(iii) (iv) (v) A Amber Gem 43,047,134A 100 Uber A Amber Gem43,047,134A 100

34 Warburg Pincus XI (i) Warburg Pincus Private Equity XI, L.P. (ii) Warburg Pincus Private Equity XI-B, L.P.(iii) Warburg Pincus XI Partners, L.P. (iv)wp XI Partners, L.P. (v) Warburg Pincus Private Equity XI-C, L.P. Warburg Pincus LLC Amber Gem Amber Gem % (a) (b) (c)

35

36 (i)(ii) (iii) 10,00050 AvisEnterpriseEnterprise Avis

37 1, ,764.51, , %

38

39 ,609.02,702.71, ,84541,04353,02252,

40

41 2,326.22, ,810.94, ,530.21,701.4

42 1, ,250.02, ,041.3 (i) (ii) 12

43 1, %14.2%12.1%8.1%6.2%

44 3,

45 (a) (b)

46 4, %12.9%12.3% %

47 IT IT

48 1,000100, ,000

49 25.0% 10% 5,00010,000 10% 6934, % 22

50 OEM 6,0008,700OEM 2436 OEM

51 %7.3%5.8%4.0%

52

53 H1N1

54 10%

55 50% 10% 5% China Auto Rental (Hong Kong) Limited 5% 10%5% 25% 25%

56 10% (i) (ii)(iii) (iv) % 25% 10% 10% 20% 20%

57 (i)12.5%(ii) 10%

58

59

60 7 20% 1%

61 (i) (ii)

62 515

63 Hertz Holdings

64 724724

65 383,705,00042,636,000

66 44B(1)

67 Codan Trust Company (Cayman) Limited ,000 (i) (ii) H.10

68 (a) (b) (c) A (1)(b)1A27 I10

69 D ,461,415 (i)17.02(1)(b)1a27 (ii)i10(d) ,500,000 D (a) (b) (c) 1,500, (1)(b) 1A27 (b) (1) (2) (3) (4)

70 (5) (d) (e) (f) (g) (c)17.02(1)(b) 1A27I10 342A I10(d) (a) (b) 1,500,000 I 10 (a) (1) (2) (3) (4) (5) (c) (d) (a) I10 D.1.

71 A.2.1 Hertz Holdings 9.09(b) (1)(2) 10.03(1) (2)8.08(1) 5(2) Hertz Holdings19.0% Hertz Holdings(a)30(b) 20%Hertz Holdings 30Hertz Holdings Hertz Holdings

72 Hertz Holdings Hertz Holdings Hertz Holdings Hertz HoldingsHertz Hertz Holdings Hertz Holdings (e) Hertz Holdings Hertz Holdings Hertz Holdings 9.09(b) (2)Hertz Holdings30Hertz Holdings Hertz Holdings16.8%Hertz (1)(a)(b) (i) 25%(ii) 25% 15% 50

73 8.08(1)(d) 8.08(1)(a) 25% (i) (a) 15%(b) (c) (ii) (iii) (iv) (v) (vi) 8.08(2)8.08(3)

74 304B701 20B PH2B Narasimhan 727 Starboard Drive Brahmadesam Naples, Florida SRINIVASAN USA A111

75

76 A 1 C1906 Conyers Dill & Pearman (Cayman) Limited Cricket Square PO Box 2681 Grand Cayman KY Cayman Islands 15 42

77 Roland Berger Enterprise Management (Shanghai) Co., Ltd

78 Cricket Square, Hutchins Drive P.O. Box 2681 Grand Cayman KY Cayman Islands ACSACISBA(Hons)

79 Codan Trust Company (Cayman) Limited Cricket Square P.O. Box 2681 Grand Cayman KY Cayman Islands

80 % % 100,000369,00030% 779,00016%

81 0.4%2.5% 1.6%1.4%1.3% 10, % 95%91%58% HertzEnterprise AVIS 104,800 Uber

82 % % % 47727% %970 16%

83 1.8% ,000

84 44% 31.2%8.2%5.0%

85 % 32% % 27% 12

86 9.8% Avis2.5%2.1%2.1% 3.1% % OEM 18%8.0

87 2,240 5,38019% OEM

88 742,000

89 52, ,000 1,962,0004 China Auto Rental Google Google % GPS 6.4%24.4% 30.1% 5,500,000 27% %8.2% 25,84552,498

90 81.6% ,702.71, %1, EBITDA EBITDA , % 8.2% 13,0008,000

91 % % ,000 1,962, %59.8%68.0%

92 Google Google3 GPS 66.4% 6.4% 24.4%30.1%

93 500, %21.3% 1,949,000 12,600 56%44% 43% 57% Hertz HertzApple Inc.Hertz Hertz Hertz HertzHertzHertz

94 60%

95 GPS ,920 33,98637, %100 GPS

96 66.4% 38.8%27.6% ,000 1,941,0001,001,000 1,012, %1, % 1, % 77.5%77.7%78.3% 31.2% 90 3,621 6,2415, %

97 % % %21.1%20.3%17.8% 3044, % 0.8%1.0%1.4%

98

99

100 (1) (2) (1) (2)

101 447,0004 1,949, ,50012, %59.8%68.0% 4.3%3.3%5.5%21.2% 4.5%3.5%2.7%4.2% 21.2% 5% 23 5% 4 Any

102 724 GPS China Auto RentalGoogle Google C-BPI Harvard Business ReviewNational Geographic Traveler Forbes Magazine VIP

103 Google HertzHertz Hertz Hertz Hertz Hertz(Powered by Hertz) 921,000 3,853,00051% , ,92031,45333,98637,195 3,6215,2016,2415, ,0974,475

104 17 98, , % (i) (ii)(iii) 3,91911,698 4, ,378 1, (1)... 2,112 5,267 2, ,259 2, ,919 11,698 4,882 (1) 4835, % 70%80%(a) (b) (c) (d) 65%2,10744,000 59,0004,4005, ,60026,000 13,00013,000

105 12121,8003,300 18,00033,000 (i) (ii) (i) (ii) 40.1%15.2%10.9%9.4%7.1% OEM OEM94.9%3.2%1.9% 1,500 15%OEM65%

106 18 73% 3% 25% 4,600 4, ,98611,

107

108 o o o

109 GPS GPS 66.4% 6.4%24.4% 30.1% Compass Information Science Co., Ltd GPS 1%

110 HertzHertz HertzHertz (Powered by Hertz) B %14.2%12.1% 8.1%6.2%

111 30% 70% GPS Compass Information Science Co., Ltd. 53.6%45.6%55.2% 17.8%14.5%14.6% % 3,384 4,4404,9824,953 1, ,442 1, ,953 1,649

112 3, %... 1, , ,602 (i)24,584(ii)9,098 15,490 6(2) 34(2) 342(1)(b) 15%

113 76, , % 22 (i) (ii) (iii) (iv) (v) (x)(y) (z) 700,000

114 39, % 31 1,00010, ,200

115 (i) (ii) 50

116 11,601 6,439 2,

117 ,0004,000

118 1,0003,00030, , , ,000 (a) (b) (i)(ii)

119 (i)(ii) (iii) (i)(ii) (iii)

120 (i)(ii)(iii) (iv)(v) (vi) (i)(ii) (iii)

121 (i) (ii) (iii)

122 (iv) (v) (vi)(vii) 5,00010,

123

124

125 (i)(ii) (iii)(iv)

126 (i)(ii)(iii) (iv)(v) (i)(ii) (iii) (i) (ii)

127

128 <> 9.2

129 (i) (ii) 25.2% 5,00010,000 10% Qiancheng Network Information Technology (Shanghai) Co., Ltd. 51 Job51 Job 51 Job

130 500,000

131

132

133 7 (i) (ii)

134 82 (i) (ii) (iii) (iv) 82 82

135 (i)(ii)

136

137 LC Fund III, L.P Grand UnionLC Fund III, L.P.2,538 5,548 (1) Warburg Pincus XIAmber Gem200 86,094,268A Hertz100Hertz (1) Grand UnionGrand UnionGrand Union Management LimitedGrand Union Management Limited 20% (1) 10 LC Fund III, L.P %

138 (2) % % (3)... 2,010, ,000, ,000,000

139 (1) LC Fund III, L.P. (1) China Auto Rental Inc. 99 (2) 295 (3) 5,67315,673

140 Haode GroupSky Sleek3, ,028623Haode Group Lucky Milestone LimitedLucky Milestone Limited Cititrust Private Trust (Cayman) Limited Sky Sleek Boon Tiong KumHak Kan PauGrand JoyAmplewood Grand Joy Amplewood Boon Tiong KumHak Kan Pau (4) (5) LC Fund III, L.P. 2,538 (6) LC Fund III, L.P.2,538 Grand Union 5,548Grand Union ,023Grandsun Grand UnionGrand Union Grand Union Management Limited Grand Union Management LimitedLC Fund III GP LimitedLC Fund III GP LC Fund III GP1030%LC Fund III GP LC Fund III GPLC Fund III, L.P. Grand UnionLC Fund III GP LC Fund III GPGrand Union Management LimitedGrand UnionGrand Union Management Limited Grand UnionLC fund III, L.P. 2,5385,548 LC Fund III GPLC Fund III GP15%Best Vessel LimitedLC Fund III GP10% LC Fund III GP5% LC Fund

141 III GP (i)lc Fund III GPLC Fund III GP (ii)lc Fund III GP (7) 20, ,0005,000,000, ,000, A250,760, (8) Amber Gem 100Amber Gem 43,047,134A 100Amber Gem43,047,134A A Amber GemAmber Gem (9) Hertz Hertz Holdings100Haode Group Sky SleekGrand JoyGrand Union34,437,707 Hertz Holdings100 Hertz10036 HertzHertz Holdings Stuurgroep Holding C.V.(i)(ii)Hertz International Ltd.Hertz Holdings HNLHHertz Hertz (10) HNLH HNLH36,589,746 HNLH36,589,746Hertz HoldingsHertz Holdings 71,027,453 (11) 260,0005,200,000, China Auto Rental Inc.CAR Inc.

142 (12) (13) (14) 373,444,013 (15) 98,623,555 D. (16) ,00026,000,000, ,867,220, Amber Gem (1) Amber Gem AAAmber Gem 20086,094,268AA Amber Gem Hertz

143 (2) Amber Gem Amber Gem... Amber Gem Holdings Limited... A A A... A43,047,134 A43,047, A100 A100 Amber Gem A %... Amber Gem A... Amber Gem Amber Gem %

144 ... AA AA 1:1 A A A A A(i) (ii)a A A A A A A... Amber Gem 180

145 ... A A A Hertz Holdings A A A A A

146 (i) (ii) (iii) A

147 A (a)a (100%)(b)A A (8%) A (c)a A (i)a (5)(ii) 15 A A 8% Amber GemAmber Gem (3) Amber Gem Amber GemWarburg Pincus LLC Warburg Pincus LLC Amber GemWarburg Pincus LLP Amber Gem10% Amber Gem 8.08

148 Hertz (1) Haode GroupSky SleekGrand Joy Grand UnionHertz(i) Hertz 100Haode GroupSky SleekGrand JoyGrand Union 1,715,2451,715,2461,480,8215,420,00024,106,395 (ii) Hertz100100(iii) HertzHertz36 Hertz Hertz Holdings34,437,707 Hertz Holdings(i)100Hertz 100(ii)36Hertz Hertz HoldingsStuurgroep Holding C.V. (i)(ii)hertz International Ltd. Hertz HoldingsHNLH HNLH36,589,746 HNLH36,589,746Hertz HoldingsHertz Holdings 71,027,453 (2) Hertz Hertz Hertz Holdings Hertz 34,437, % Hertz 180

149 Hertz (i) (ii) (A) (i) (ii) 2%(B) 8%

150 % Haode GroupSky Sleek Grand JoyGrand UnionHertz Hertz Hertz (a) 30(b) 20% Hertz Holdings 30Hertz Holdings Hertz Holdings

151 Hertz Holdings Hertz %... Hertz Holdings A Hertz Holdings Hertz Holdings Hertz Holdings Hertz Holdings Hertz Holdings

152 77.5% Hertz Holdings (i) (ii) (iii)

153 Amber GemHertz (3) Hertz Holdings Hertz HoldingsHertz Global Holdings, Inc. Hertz HertzHertz Hertz Holdings10% Hertz Holdings 8.08 (4) Hertz Premium Auto RentalHertz HertzHertz HertzHertz Hertz Hertz Hertz Premiun Auto RentalHertzHertzHertzHertz HKEx-GL44-12HKEx-GL43-12 Hertz18 22

154 (1) (1) F-1

155 F-1 (a) (b) (c) (d)(e) F-1 EDGAR

156 下圖說明我們於企業重組 近期收購及成立附屬公司 完成首次公開發售前投資之後及緊接首次公開發售前重組之前的公司 架構 假設所有A系列優先股已轉換為神州租車控股普通股 歷史 重組及公司架構 150

157 (1) Hertz HoldingsHertz Global Holdings, Inc. (2) Grand JoyYim Mang Po (3) Sky Sleek (4) Haode GroupLucky Milestone LimitedLucky Milestone LimitedCititrust Private Trust (Cayman) Limited (5) Amplewood (6) Grandsun (7) Grand UnionGrand Union Management Limited (8) Warburg Pincus Private Equity XI, L.P.Amber Gem77.6%Warburg Pincus Private Equity XI-B, L.P. Amber Gem14.4%Warburg Pincus XI Partners, L.P.Amber Gem5% WP XI Partners, L.P.Amber Gem2.7%Warburg Pincus Private Equity XI-C, L.P. Amber Gem0.3%

158 (1) A Amber GemA (2) Hertz HoldingsGrand JoySky SleekHaode Group Amplewood Grandsun Grand Union Amber Gem355,137,2658,295,895 53,723,770294,223,77524,800,00012,500,000688,068,025430,471,340 (3) Hertz Holdings Hertz Holdings (a)30(b)20% Hertz Holdings Hertz Holdings 30Hertz Holdings Hertz Holdings Hertz Holdings Hertz Holdings19.0% Hertz Holdings16.8%Hertz Hertz Holdings9.09(b) (2) Hertz Holdings Hertz Holdings 30Hertz Holdings

159 下圖說明我們緊隨首次公開發售前重組後但於全球發售完成前的公司架構 歷史 重組及公司架構 153

160 (1) Hertz HoldingsHertz Global Holdings, Inc. (2) Grand JoyYim Mang Po (3) Sky Sleek (4) Haode GroupLucky Milestone LimitedLucky Milestone LimitedCititrust Private Trust (Cayman) Limited (5) Amplewood (6) Grandsun (7) Grand UnionGrand Union Management Limited (8) Warburg Pincus Private Equity XI, L.P.Amber Gem77.6%Warburg Pincus Private Equity XI-B, L.P. Amber Gem14.4%Warburg Pincus XI Partners, L.P.Amber Gem5%WP XI Partners, L.P.Amber Gem2.7%Warburg Pincus Private Equity XI-C, L.P. Amber Gem0.3%

161 下圖說明我們於緊隨全球發售完成後的公司架構 假設Hertz認購費為30百萬美元 發售價為7.50港元及超額配股權不獲行使及 並無因首次公開發售前購股權獲行使而發行股份 我們於全球發售後的架構 歷史 重組及公司架構 155

162 (1) Hertz HoldingsHertz Global Holdings, Inc. (2) Grand JoyYim Mang Po (3) Sky Sleek (4) Haode GroupLucky Milestone LimitedLucky Milestone LimitedCititrust Private Trust (Cayman) Limited (5) Amplewood (6) Grandsun (7) Grand UnionGrand Union Management LimitedGrand Union30.0% 29.2% (8) Warburg Pincus Private Equity XI, L.P.Amber Gem77.6%Warburg Pincus Private Equity XI-B, L.P. Amber Gem14.4%Warburg Pincus XI Partners, L.P.Amber Gem5%WP XI Partners, L.P.Amber Gem2.7%Warburg Pincus Private Equity XI-C, L.P. Amber Gem0.3%

163 30% 29.2% Grand Union Management Limited Grand Union (i) (ii) (iii) (iv)

164 ,000, ,000, ,000, ,000, ,000, ,000, ,000, ,000, ,000, ,000,000 2

165 ,000, ,000, ,000, ,000, ,000, ,000, ,000, ,000, ,000, ,000, ,000, ,000, ,000, ,000,000 2

166 3, % 9.50% %130% 6.15% 7.995% 8.10

167 A.2.1 (a) (b) (c) (d) (e) (f)

168 A Hertz Hertz Holdings 16.8%Hertz International, LtdHertz International Hertz Holdings100%Hertz InternationalHertz Holdings Hertz International A Hertz International Hertz International HertzHertz International 7.5% Hertz International 7.5%Hertz International1,500,000 Hertz International Hertz International7.5% 14A.76 AHertz International 7.5%Hertz Holdings 10% Hertz International Hertz International Hertz International

169 Hertz InternationalHertz 5%Hertz International 5%15%(a)HertzGDS Hertz (b) Hertz International 2,934Hertz International 661,427 Hertz International Hertz International Hertz InternationalHertz International 14A.76 A Hertz InternationalHertz International 14.07

170 Narasimhan 42 Brahmadesam SRINIVASAN... 42

171

172 A.2.1 (i) (ii) (iii) Grand Union Management Limited Rock Mobile (Cayman) Corporation Universal Education HoldingsCoremax Group Limited Grand Union Management Limited 45 20

173 Warburg Pincus Asia LLC Amber Gem Synutra International, Inc. SYUTChina Biologic Products, Inc. CBPO Narasimhan Brahmadesam SRINIVASAN42 Srinivasan20 SrinivasanDillon Read & Co. Inc. Evercore Partners Inc. SrinivasanContinuation Investments Group Pothchild Group)Srinivasan MeadWestvaco Corporation(Corporate Development & Strategy Group)SrinivasanHertz Corporation (Global Strategy & Corporate Development Group)Hertz CorporationHertz HoldingsSrinivasan SFUNMaersk China Co. Ltd.Microsoft China R&D Group Qunar Cayman Islands Ltd QUNR 54

174 27 Hwa Pao Investment SYUT

175 13.51(2)A41(3) 13.51(2)(h)(v)

176 International Business Machines CorporationIBMIBM IBM IBM GE Healthcare GE HealthcareGlobal Supply Chain Asia group UniTrust Finance & Leasing Corporation 38 15

177 A A.23 (a) (b) (c) (d) 13.10

178 3.21C3D3 3.10(2)3.21 B1 (i) (ii)(iii) A

179 D.

180 1,867,220,070 XV23 10% Grand Union (1) ,068, % 688,068, % Grand Union Management Limited (1) ,068, % 688,068, % Amber Gem (2) ,471, % 430,471, % Warburg Pincus Private 430,471, % 430,471, % Equity XI, L.P. (2)... Haode Group Inc. (3) ,223, % 294,223, % Lucky Milestone Limited (3) ,223, % 294,223, % Cititrust Private Trust (Cayman) Limited (3) ,223, % 294,223, % (3) (4) ,947, % 347,947, % (3)(4) ,947, % 347,947, % Hertz Holdings (5) ,137, % 386,137, % Stuurgroep Holding C.V. (5) ,137, % 386,137, %

181 Hertz International Limited (5) ,137, % 386,137, % The Hertz Corporation (5) ,137, % 386,137, % Hertz Investor, Inc. (5) ,137, % 386,137, % Hertz Global Holdings, Inc. (5) ,137, % 386,137, % (1) Grand UnionGrand Union Management Limited (2) Warburg Pincus Private Equity XI, L.P.Amber Gem77.6% Warburg Pincus Private Equity XI-B, L.P.Amber Gem14.4% Warburg Pincus XI Partners, L.P.Amber Gem5%Warburg Pincus XI Partners, L.P.Amber Gem2.7%Warburg Pincus Private Equity XI-C, L.P.Amber Gem0.3% Warburg Pincus LLC (3) Haode GroupLucky Milestone LimitedLucky Milestone Limited Cititrust Private Trust (Cayman) Limited Lucky Milestone LimitedCititrust Private Trust (Cayman) Limited Haode Group294,223,775 (4) Sky SleekSky Sleek53,723,770 (5) Hertz HoldingsStuurgroep Holding C.V.Stuurgroep Holding C.V.Hertz International Limited99.9%Hertz International LimitedThe Hertz CorporationThe Hertz CorporationHertz Global Holdings, IncHertz Investor, Inc. Stuurgroep Holding C.V.Hertz International LimitedThe Hertz CorporationHertz Investor, Inc. Hertz Global Holdings, IncHertz Holdings386,137,665 Hertz XV23 10%

182 26,000,000, ,000 1,867,220, , ,000,000, ,000 1,867,220, , ,000,000, ,000 1,867,220, , ,341, , ,293,561, ,

183 (i) 20% (ii) (i) (ii) (iii) A % A. 7. (i) (ii) (iii) A. 3.

184 D. 8.08(1)(a)(b) (i) 25%(ii) 25% 15% (1)(d)

185 1301,007.51, ,936,000 (i)32.8% (ii)29.5% 5.5%

186 8.00 Waddell & Reed... 30,000, % 1.2%... 30,000, % 1.2% Falcon Edge... 30,000, % 1.2% Davis Selected Advisers... 20,000, % 0.8%... 20,000, % 0.8% Waddell & Reed Ivy Emerging Markets Equity FundIvy International Growth FundWaddell & Reed Advisors International Growth FundIvy Funds Variable Insurance Portfolio International GrowthWaddell & Reed Funds30 1, Waddell & Reed Funds 29,062,000(i)1.3% (ii)1.2%

187 Waddell & Reed FundsIvy Investment Management CompanyWaddell & Reed Investment Management Company Ivy Investment Management CompanyWaddell & Reed Investment Management CompanyWaddell & Reed Financial, Inc.Waddell & Reed Waddell & Reed WDRWaddell & Reed 1,356 Gaoling Fund, L.P.YHG Investment, L.P. 301, ,062,000(i) 1.3% (ii)1.2% Falcon Edge Falcon Edge Global Master Fund, LPFalcon Edge Fund 301, Falcon Edge Fund29,062,000(i) 1.3% (ii)1.2% Falcon Edge Fund Falcon Edge Capital, LPFalcon EdgeFalcon Edge FundFalcon Edge

188 Davis Selected Advisers Davis Selected Advisers, L.P.Davis Selected Advisers 201, Davis Selected Advisers19,375,000(i) 0.8% (ii)0.8% Davis Selected Advisers Davis Investments, LLCDavis Selected Advisers 20 1, ,375,000(i)0.8% (ii) 0.8% 100(i) (600787) (600433)(600963)(ii) (00217)(iii) (200986) 1. 2.

189 3. 4.

190 52, ,84552, % ,702.71, %1, EBITDA EBITDA

191 25,845 52, ,00041,962,000

192 % 56.7%59.0%57.9%61.7%

193 1,774.91,764.51, %34.4%31.3% 24.7%(i)(ii) ,98611, OEM 18.1%17.3%15.2%11.1%

194 3.24 (a) 9090 (b) (c) (d) (e) (f) 5

195 11.7%18.7% 11.7%23.2%11.4%20.9%11.4%24.0% %2.86%... 20%33.33%... 20%33.33%... 20%100%

196

197

198 , % 1,558, % 2,207, % 1,007, % 1,381, %... 43, % 50, % 494, % 142, % 480, % , % 1,609, % 2,702, % 1,150, % 1,862, %... (258,023) (31.5)% (535,979) (33.3)% (690,027) (25.5)% (307,119) (26.7)% (341,429) (18.3)%... (268,265) (32.7)% (532,015) (33.1)% (861,638) (31.9)% (384,003) (33.4)% (478,041) (25.7)%... (48,860) (6.0)% (48,032) (3.0)% (522,126) (19.3)% (144,145) (12.5)% (463,730) (24.9)% , % 492, % 628, % 314, % 578, %... 1, % (8,168) (0.5)% 20, % 13, % (7,487) (0.4)%... (106,934) (13.1)% (140,346) (8.7)% (152,732) (5.7)% (66,214) (5.8)% (40,606) (2.2)%... (148,750) (18.2)% (206,799) (12.9)% (378,226) (14.0)% (106,654) (9.3)% (148,998) (8.0)%... (140,641) (17.2)% (270,037) (16.8)% (334,611) (12.4)% (151,889) (13.2)% (153,636) (8.3)%... (150,587) (18.5)% (132,354) (8.3)% (215,941) (8.0)% 3, % 228, %... (638) (0.1)% % (7,424) (0.3)% (1,409) (0.1)% (9,755) (0.5)%... (151,225) (18.6)% (132,303) (8.3)% (223,365) (8.3)% 1, % 218, % (1)... (145,143) (18.7)% (102,956) (6.6)% (155,175) (7.0)% (14,227) (1.4%) 277, % EBITDA (2) , % 728, % 918, % 463, % 796, % (1)

199 (2) EBITDA EBITDA EBITDAEBITDA EBITDA EBITDA EBITDAEBITDA EBITDA EBITDAEBITDA... 2,413,847 3,541,029 4,023,956 3,957, , , , , ,698,791 3,789,628 4,401,803 4,607, , , ,835 1,064, , , ,433 1,315, ,069,082 1,268,667 1,765,268 2,379, ,541,747 2,496,330 2,247,576 2,530, , ,950 1,597, ,471 1,210, , , ,819,145 4,518,686 4,490,944 3,110, (1,750,063) (3,250,019) (2,725,676) (730,947) , ,609 1,676,127 3,876, , ,145 1,563,299 1,701, ,489 25,941 39,890 34, , ,086 1,603,189 1,736, ,826 15,523 72,938 2,139, ,826 15,523 72,938 2,139, ,826 15,523 72,938 2,139,996

200 (1)... 15,429 26,556 33,475 32,880 35,602 (2) (%) (3) % 59.0% 57.9% 61.1% 61.7% (4) (5) ,986 3,109 11,722 (1) (2) (i)(ii) (iii) (3) (4) (5) 3,674

201 60% (i) (ii) (i)(ii) 81.6% ,609.02, , % 1, , % 1,558, % 2,207, % 1,007, % 1,381, %... 43, % 50, % 494, % 142, % 480, % , % 1,609, % 2,702, % 1,150, % 1,862, % 68.7% ,558.42, , % 1,381.3

202 , % 1,208, % 1,714, % 793, % 1,081, % , % 328, % 448, % 201, % 245, %... 2, % 13, % 21, % 9, % 19, % % 8, % 22, % 3, % 35, % , % 1,558, % 2,207, % 1,007, % 1,381, % ,208.61,714.51, ,429 35, ,621 5, HertzHertz

203 (i) (ii) , % 535, % 690, % 307, % 341, %... 39, % 134, % 235, % 107, % 170, %... 39, % 73, % 116, % 50, % 63, % , % 118, % 157, % 79, % 75, %... 14, % 69, % 120, % 56, % 49, %... 27, % 48, % 73, % 26, % 35, %... 45, % 86, % 158, % 63, % 83, % , % 532, % 861, % 384, % 478, % , % 1,067, % 1,551, % 691, % 819, % 33.3%34.4%31.3%24.7% (i) (ii)

204 (i)(ii) (iii) 5.1%8.7%10.7%12.4% Hertz o o o Hertz 5.0% 4.7%5.3%4.6% 13.2%7.6%7.1%5.4% (i)(ii)

205 1.9%4.5%5.4%3.6%... 48, % 48, % 522, % 144, % 463, % 113.1%94.9%105.5%96.5%

206 , , , , , % 31.5% 29.7% 31.4% 40.7%... (5,661) 2,599 (27,223) (1,779) 16, (13.1)% 5.1% (5.5)% (1.2)% 3.5% , , , , , % 30.6% 23.3% 27.4% 31.1%... 9, % 18, % 27, % 16, % 8, %... 88, % 106, % 112, % 44, % 23, %... 3, % 1, %... 8, % 15, % 9, % 5, % 6, % , % 140, % 152, % 66, % 40, % , % 140, % 148, % 66, % 39, %

207 13.8%9.0%6.9% 2.9% 13.8%9.0%6.7%2.9%... 94, % 109, % 162, % 66, % 65, %... 25, % 27, % 55, % 15, % 17, %... 7, % 15, % 20, % 8, % 9, %... 93, % 25, %... 22, % 54, % 45, % 15, % 30, % , % 206, % 378, % 106, % 148, % , % 206, % 284, % 106, % 123, % 19.2%13.3%17.1%10.8% 19.2%13.3%12.9%9.0%

208 ,106 2,225 3,284 1,527 5, ,915 2,356 3,284 1,527 5, (7,071) 22,711 12,249 (16,077) ,573 1, , (163) (372) (4,863) (7,997) (1,571) 886 (237) (10,524) 17,420 11,501 (12,778)... 1,678 (8,168) 20,704 13,028 (7,487) , % 182, % 300, % 134, % 142, %... 26, % 27, % 29, % 13, % 11, % % , % 59, % 3, % 3, % , % 270, % 334, % 151, % 153, %

209 18.1% 17.3% 15.2% 11.1% (i)(ii) 25% 15% 15% 25%

210 82 25% 10% 5% (a) (b)(c) EBITDA

211 EBITDA EBITDA EBITDA EBITDAEBITDA EBITDA EBITDA EBITDA EBITDA

212 EBITDA A.... (151,225) (132,303) (223,365) 1, , ,148 26, (1,746) (39,100) (15,877) 18, ,082 31,093 6,142 13, (145,143) (102,956) (155,175) (14,227) 277, (18.7%) (6.6%) (7.0%) (1.4)% 20.1% B.EBITDA EBITDA... (150,587) (132,354) (215,941) 3, , , , , , , (1,106) (2,225) (3,284) (1,527) (5,291)... (809) (131) , , , , , ,354 19,358 23,076 12,845 13, ,229 3,088 6,595 3,196 4, ,864 14,667 3,018 1,480 EBITDA , , , , ,397 EBITDA % 44.8% 38.5% 47.6% 53.4% EBITDA EBITDA , , , , , ,148 26, (1,746) (39,100) (15,877) 18, ,082 31,093 6,142 13,854 EBITDA , , , , ,253 EBITDA % 46.7% 41.6% 46.0% 57.6%

213 EBITDA , ,6016,439 2, ,

214 ... 8,699 16, ,320 9,227 2, ,174 17, ,842 14,936 4, ,131 5,875 36,468 3, ,629 8,685 53,910 3,878 1, ,633 48, ,540 31,261 9, , % 1,558, % 2,207, % 1,007, % 1,381, %... 43, % 50, % 494, % 142, % 480, % , % 1,609, % 2,702, % 1,150, % 1,862, %... (258,023) (31.5)% (535,979) (33.3)% (690,027) (25.5)% (307,119) (26.7)% (341,429) (18.3)%... (268,265) (32.7)% (532,015) (33.1)% (861,638) (31.9)% (384,003) (33.4)% (478,041) (25.7)%... (48,860) (6.0)% (48,032) (3.0)% (522,126) (19.3)% (144,145) (12.5)% (463,730) (24.9)% , % 492, % 628, % 314, % 578, %... 1, % (8,168) (0.5)% 20, % 13, % (7,487) (0.4)%... (106,934) (13.1)% (140,346) (8.7)% (152,732) (5.7)% (66,214) (5.8)% (40,606) (2.2)%... (148,750) (18.2)% (206,799) (12.9)% (378,226) (14.0)% (106,654) (9.3)% (148,998) (8.0)%... (140,641) (17.2)% (270,037) (16.8)% (334,611) (12.4)% (151,889) (13.2)% (153,636) (8.3)%... (150,587) (18.5)% (132,354) (8.3)% (215,941) (8.0)% 3, % 228, %... (638) (0.1)% % (7,424) (0.3)% (1,409) (0.1)% (9,755) (0.5)%... (151,225) (18.6)% (132,303) (8.3)% (223,365) (8.3)% 1, % 218, %

215 ... (145,143) (18.7%) (102,956) (6.6%) (155,175) (7.0%) (14,277) (1.4%) 277, % EBITDA , % 728, % 918, % 463, % 796, % 1, %1, , %1, %1,081.1 (i) 32,880 35,602(ii) % 78.7% %245.3 (i) 5,9085,946(ii) Hertz 17.8% 20.0% , (i) (ii) %480.7

216 3,109 11,722 11,722 3, % % %478.0 o % 170.7(i) (ii) (iii) o % o %75.1 o % 49.8 o % %

217 %40.7% % % 2.9% % % 9.0% % EBITDAEBITDA 796.3EBITDA , % 2,702.7

218 1, %2, , % 1,714.5(i) 26,556 33,475(ii) % 77.6% % 448.9(i) 5,2016,241 (ii)hertz 20.3% 21.1% % % ,986 1, %1, % % o % 235.7(i) (ii)(iii) o % o % 157.3

219 o o % % % % 29.7% % %6.9% % %17.1% % % ,

220 EBITDAEBITDA918.1 EBITDA % 1, %1, % 1,208.6(i) 15,429 26,556(ii) % 81.2% % ,6215, % 18.5% %1, % %532.0 o % o % 73.7

221 o o o % % % % % 31.5% % %9.0% % 206.8(i) (ii) 19.2% 13.3% % % , EBITDAEBITDA728.1 EBITDA265.5

222 ... (1,485,326) (923,976) (590,312) (532,533) 164, (103,160) (52,983) 18,070 46,876 (224,188)... 2,144,669 1,257, , , , , ,672 (59,467) 101, , (i)228.1(ii) (iii) (iv) (i)3.1(ii)

223 (iii) (iv) (i) 215.9(ii) (iii) (iv) 1, (i) 132.4(ii) (iii) (iv) 1, ,485.3(i) 150.6(ii) (iii) (iv) 1, Hertz

224 , , , , ,

225 ... 10,996 39, , , , ,454 88, , , , , , , , , , , ,441 36,207 42,362 94,819 94, , , , ,835 1,064,488 1,004, ,069,082 1,268,667 1,765,268 2,379,598 2,222, ,939 13,892 13,802 18,286 22, , , , , , , , , , ,387 (1)... 1,541,747 2,496,330 2,247,576 2,530,229 2,668, , , , ,542 (2) , ,950 1,597, ,224 6,008 11,510 18, ,819,145 4,518,686 4,490,944 3,110,545 3,264, (1,750,063) (3,250,019) (2,725,676) (730,947) (1,041,275) (1) (2) , ,

226 ,725.71, , , , , ,750.11, (i) (ii) , (i) (ii)

227 (i) (ii) 12 (i) (ii) 122,600

228 121,500 %... 1,350 33% %... 2,000 49%... 4, % (1) 12 40,00055, ,499 18,150 99, , ,709 52,034 63,139 58, ,939 56,171 63,197 64, ,373 16,534 19,039 20, , , , ,341

229 ... 2,413,847 3,541,029 4,023,956 3,957, ,125 71,774 89, , ,210 29,265 68, , ,959 41,723 54,660 64, ,414 7,245 7,076 6, ,723 5,650 6, ,065 57, , , ,372 7,416 2,292 3, ,180 28, ,762 1,830 1,830 53, ,171 3,142 4, ,698,791 3,789,628 4,401,803 4,607, ,996 39, , , ,454 88, , , , , , , , , ,441 36,207 42,362 94, , , , ,835 1,064, ,069,082 1,268,667 1,765,268 2,379, ,939 13,892 13,802 18, , , , , , , , , ,541,747 2,496,330 2,247,576 2,530, , , , , , ,950 1,597, ,224 6,008 11, ,819,145 4,518,686 4,490,944 3,110, (1,750,063) (3,250,019) (2,725,676) (730,947) , ,609 1,676,127 3,876,139

230 , ,145 1,563,299 1,701, ,270 16,034 19,291 16, ,219 9,907 20,599 18, , ,086 1,603,189 1,736, ,826 15,523 72,938 2,139, ,826 15,523 72,938 2,139, ,826 15,523 72,938 2,139,996 2, ,541.04,024.03, ,515 2,413,847 3,541,029 4,023, ,774,872 1,764,454 1,888, , , , (48,860) (69,813) (806,301) (337,026)... (25,083) (31,480) (80,127) (275,135)... (258,023) (535,979) (690,027) (341,429)... 2,413,847 3,541,029 4,023,956 3,957,

231 ... 21, , , ,996 17,431 24,029 24, ,561 4, ,996 39, , ,963 (1) (1) %

232 ... 33,697 68, , , ,535 22,814 28, ,961 19,065 11, ,454 88, , ,527 (1) (1) % %44.8%35.1%12.5%

233 , , , ,909 (1) , ,306 19,366 55,181 81, , , ,180 28, ,323 8,082 13,515 33, ,675 11,746 11,575 7, , , , ,801 (1) (i) (ii)(iii)(iv)(v) (vi)(vii)(viii)

234 ... 57,405 76, , , ,565 43,131 58,955 53, ,040 8, , ,251 83, , , , , , Hertz (i)(ii) ,000119, (i) (ii)

235 7.04%7.87%5.65%7.87%5.84%9.50% 2,279.72, ,693.74,009.73, , , , , , , , , , , , , , ,218 1,085, , , , , ,700 1,079,270 1,279, ,931 11,432 90, ,300 19,657 19,208 34,590 33, , , , , , ,298, , , ,198 25,499 6,242 95,225 92, , ,317 61,530 51, ,326,160 2,994,475 3,810,875 4,231,590 4,146,049

236 2, ,994.53,810.94,231.64, ,101 1,666,237 1,788,302 1,280,909 1,241, , , , , , ,563 74,356 1,411,381 2,077,353 1,995,132 1,938,891 1,877, , , ,634 1,113,860 1,312, ,245 19,233 1,304,742 1,025, , ,571 6,266 18,285 16, , ,588 1,555,376 2,157,239 2,154, , , , , , ,535 61,530 51, , , , , , , ,326,160 2,994,475 3,810,875 4,231,590 4,146,049 2,279.72, ,693.64,009.73, ,

237 , %30.9%28.2% %18.4% (i) (ii) 12 2, %11.1%

238 % % % % ,

239 (%) % 53.6% 48.1% 45.3% EBITDA EBITDA (%) % 31.5% 29.7% 40.7% (%)... (19.5%) (8.5%) (10.1%) 15.8% (%)... (18.7%) (6.6%) (7.0%) 20.1% EBITDA (%) % 44.8% 38.5% 53.4% EBITDA (%) % 46.7% 41.6% 57.6%

240 EBITDA EBITDAEBITDA EBITDA EBITDAEBITDA EBITDAEBITDA EBITDAEBITDA EBITDA EBITDAEBITDA EBITDAEBITDA EBITDA EBITDAEBITDAEBITDA EBITDA EBITDAEBITDA EBITDA

241 %

242 ,286 18, , ,351 (1)... 2,909,615 2,909,615 (2) ,611 16, ,754,269 1,754,269 3,318,252 1,770,880 5,089, ,802 13, , ,610 (1)... 2,469,474 2,469,474 (2)... 1,597,568 1,597, , , ,291 19, ,778,928 1,778,928 4,531,996 1,798,219 6,330,215

243 ,892 13, , ,048 (1)... 2,691,895 2,691, , ,558 (2) , , ,034 16, , ,238 4,609, ,272 5,147, ,939 5, , ,081 (1)... 1,764,408 1,764, ,273 3, , ,579 (2) , , ,270 9, ,223 14, ,703 2,954, ,493 14,480 3,772,180 (1) (2) ,597.6

244 (i) (ii) 377.2

245 (1) (2) (3) ,982,054 2,743,414 4,725, ,982,054 2,414,463 4,396, (1) 2,139,996,000157,919,000 (2) (3) 2,293,561,070 5 (4) (5)

246 ,242 65%2, %6070% 44,00059,000 19% %6.1%6.8% 10%324 6% (i)207(ii) (i)207 (ii)238

247

248 42,636,000 (a) (i)

249 (ii) (iii) (iv) (v) (vi) (vii) (viii) (ix) (x)

250 (xi) (xii) (xiii) (xiv) (xv) (xvi) (1) (2) (3) (4) (b) (i)

251 (ii) (iii) (iv) (v) (vi) (vii) (A) (a) (b)

252 (c) (d) (a)(b) (a)(b)(c) (a)(b)(c) (a)(b) (c) 8.24 (B) Grand Union Management Grand Union Management LimitedGrand Union Management (a) (b) (i) (ii) (iii)(i)(ii) (iv)(i)(ii)(iii) (i)(ii)(iii) (a)(i)(ii)(iii)

253 (c) (b)(a)(i)(ii)(iii) Grand Union Management (a) (b) (A) 10.08

254 (B) 30% 29.2% 10.07(1) (a) (b) 29.2% 10.07(2)3 (a) (b) 155 Haode GroupSky SleekGrand JoyAmplewoodGrandsunAmber GemHertz Holdings

255 (a) (b) (c) (d) (a)(b) (a)(b)(c) (a)(b)(c) (A) (B) (C)

256 30 63,951,00015% 3.0%

257 (a) (b)

258 (i) (ii) (i) (A) (1)(2) (B) (A) (C) (D) (ii)(a)(2)(ii)(b)(ii)(c) 63,951,000

259 42,636,000 S144A383,705,000 S 144A

260 30

261 155 (i) (ii) 42,636, ,341,00010% 1.9% 8.501%0.003%0.005% 42,636,000 21,318,000 21,318,000

262 5,000,000 5,000,000 42,636,000 50%21,318,000 (i)1550(ii)50 100(iii) ,903,000170,537,000213,171,000 30%(i)40% (ii)50%(iii) 383,705,000 90% S 144A

263 30 63,951,00015% Haode Group 10.07(3) 10.07(1)(a) Haode Group Haode Group Haode Group (i)(ii) Haode Group 30 63,951,000 15%

264 (i)(ii) (iii) (i)(ii)(iv) (v) (vi)(ii)(iii)(iv)(v) 30 63,951,000 1,000

265 S (i) (ii)

266 3. (a)

267 (b) 4-4A A-10 P C 3308E G G13 L A

268 4. (i) (ii) (iii) (iv) (v) (vi) (vii) (viii)

269 (ix) (x) (xi) (xii) (i) (ii) SS902(h)(3) (xiii) (xiv) (xv) (xvi) (xvii) (xviii) (xix)(i) (ii) 5.

270 E

271 (a) (b)

272 40

273 1,0001,000 (1) (1) (1) (1) (1) E

274 7. (i)(ii) 8. 9.

275 1,000 1,

276 12. (i) 40342E (ii) (iii) (iv)

277 50% (i) (ii)

278 (i) 1,000, ,000,000 (ii) 1,000,000 1,000,000

279 (iii) 1,000,000 1,000,000 (iv)

280 15.

281 (CAR Inc.) II2.1 II1 II1

282 II2.1

283 I ,009 1,558,391 2,207,812 1,007,689 1,381, ,199 50, , , , ,208 1,609,022 2,702,715 1,150,055 1,862, (258,023) (535,979) (690,027) (307,119) (341,429)... 8 (268,265) (532,015) (861,638) (384,003) (478,041)... (48,860) (48,032) (522,126) (144,145) (463,730) , , , , , ,678 (8,168) 20,704 13,028 (7,487)... 8 (106,934) (140,346) (152,732) (66,214) (40,606)... 8 (148,750) (206,799) (378,226) (106,654) (148,998)... 7 (140,641) (270,037) (334,611) (151,889) (153,636).. 8 (150,587) (132,354) (215,941) 3, , (638) 51 (7,424) (1,409) (9,755)... (151,225) (132,303) (223,365) 1, , (151,225) (132,303) (223,365) 1, ,

284 ... (151,225) (132,303) (223,365) 1, , (28)... (28)... (151,253) (132,303) (223,365) 1, , (151,253) (132,303) (223,365) 1, ,332

285 ,413,847 3,541,029 4,023,956 3,957, ,125 71,774 89, , ,210 29,265 68, , ,959 41,723 54,660 64, ,414 7,245 7,076 6, ,723 5,650 6, ,065 57, , , ,372 7,416 2,292 3, ,180 28, ,762 1,830 1,830 53, ,171 3,142 4, ,698,791 3,789,628 4,401,803 4,607, ,996 39, , , ,454 88, , , , , , , , , ,441 36,207 42,362 94, , , , ,835 1,064, ,069,082 1,268,667 1,765,268 2,379, ,939 13,892 13,802 18, , , , , , , , , ,541,747 2,496,330 2,247,576 2,530, , , , , , ,950 1,597, ,224 6,008 11, ,819,145 4,518,686 4,490,944 3,110, (1,750,063) (3,250,019) (2,725,676) (730,947) , ,609 1,676,127 3,876,139

286 , ,145 1,563,299 1,701, ,270 16,034 19,291 16, ,219 9,907 20,599 18, , ,086 1,603,189 1,736, ,826 15,523 72,938 2,139, , , ,468 2,517, (239,436) (371,982) (595,530) (377,198) ,826 15,523 72,938 2,139,996

287 * * * * , (87,441) 96, (151,225) (151,225) (28) (28)... (28) (151,225) (151,253) (770) (6,652) (6,652) ,311 1, , , ,492* 770* * * (239,436) 147, (132,303) (132,303) (132,303) (132,303) (243) ,492* 1,013* * * (371,982) 15, (223,365) (223,365) (223,365) (223,365) (183) 32(f) , , , , ,124* 1,196* * 101,148* (595,530) 72, , , , , ,821,659 1,821, ,952 26, ,387,783* 1,196* * 128,100* (377,198) 2,139,996 * 387,262,000387,505,000668,468,0002,517,079,000

288 ,492 1,013 (371,982) 15, ,650 1, ,650 1, ,492 1,013 (370,332) 17,173

289 ... (150,587) (132,354) (215,941) 3, , ,864 14,667 3,018 1, ,462 (1,062) , , , , , ,354 19,358 23,076 12,845 13, (7) 163 (872) (738) ,229 3,088 6,595 3,196 4, ,333 (15)... (1,746) (39,100) (15,877) 18, ,148 26, , , , , , (1,915) (2,356) (3,284) (1,527) (5,291) 260, , , , , (1,000) (563)... (21,484) (58,894) (114,141) (27,530) (208,415)... (9,110) (6,597) (314,148) (113,465) 142, (170,136) 30,669 (88,919) (63,826) (135,011)... 5,029 7,953 (3,051) (137) 4, ,127 7, , ,532 18,147 69,733 27,536 1, ,612 70,896 (10,208) (43,961) (23,859)... (1,700,929) (1,663,161) (1,002,571) (757,644) (275,043)... (23,290) (35,436) (44,023) (15,964) (124,922)... (8,022) (3,337)... (1,310) (2,967) (2,898) (1,848) (8,106)... (1,485,326) (923,976) (590,312) (532,533) 164,837

290 ... (40,624) (31,433) (32,171) (13,237) (70,442) , , (12,230) (20,525) (27,775) (17,258) (9,980)... (51,522) (4,124) 73,687 75,840 (1,321) (150,000)... 1,106 2,356 3,274 1,527 5, (103,160) (52,983) 18,070 46,876 (224,188)... (7,462) 7,494 (8) (51,299) , ,147,290 1,591,702 3,330,953 2,878,768 1,531, (471,040) (926,594) (2,663,484) (1,579,130) (1,110,749) , (400,000)... 1,013, ,358 58, , (5,994) (5,994)... 7, , (7,411) (313,202) (649,738) (613,420) (133,542)... (92,024) (258,032) (329,814) (151,889) (150,059)... 2,144,669 1,257, , , , , ,672 (59,467) 101, , , , , , , (7,545) (9,070) 1, , , ,835 1,013,114 1,064,488

291 , (5,223)

292 II. 1. China Auto Rental Inc. CAR Inc. Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman KY1-1111, Cayman Islands (1) (24) (2) (3) (4) (5) (6) (24) 30,

293 (7) (8) (9) (10) (11) Main Star Global Limited (12) 10, Main Star (13) (14) (15) (16) (17) 1 100

294 (18) (19) (20) (21) (24) (24) (24) (24) (24) (24) (24) (24) 2 100

295 (24) Premium Auto Rental (China) (22) 10, LimitedPremium Rent A Car Holdings (HK) (23) LimitedRent A Car Hertz (24) Hertz Hertz (24) Hertz (24) Hertz Hertz (24) (24) (24) (24) (24) (24)

296 (24) (24) (24) (24) (24) (24) (24) (24) (24)

297 (24) (24) (Lianhui Auto (Langfang) Co., Ltd. Haike Leasing (Fujian) LimitedChina Auto Rental (Tianjin) Co., Ltd. (1) (2) (3) (4) (5) (6) (7) (8) (9)

298 (10) (11) (12) Main Star (13) (14) (15) (16) (17) (18) (19) (20) (21) (22) Premium (23) Rent A Car (24)

299 ,947,

300

301 (a) (b) (c)

302

303 (a) (i) (ii) (iii) (b) (i) (ii) (iii) (iv) (v) (vi) (a) (vii) (a)(i) 5

304 %18.7%11.7%23.2%11.4%20.9%11.4%24.0% %2.86%... 20%33.33%... 20%33.33%... 20%100%

305

306 (a) (b)

307

308 39 39

309

310 (a) 9090 (b) (c) (d)

311 (e) (f) 30

312 4.

313 3.2 2,413,847,000 3,541,029,0004,023,956,0003,957,570,000

314 10,996,000 39,400,000330,304,000188,963,000 34,454,00088,414,000208,426,000415,527, ,0001,439,000 2,691,0003,633,000 60,125,00071,774,00089,226,000218,184,000

315 630,000 2,171,0003,142,0004,449, ,507,037,0003,670,075,000 4,258,476,0004,327,135, ,000 1,723,0005,650,0006,561, % 295,055, %

316 ,818 1,208,561 1,714, ,443 1,081, , , , , , ,235 13,012 21,709 9,100 19, ,199 50, , , , , ,607 22,715 3,545 26, ,208 1,609,022 2,702,715 1,150,055 1,862, ,106 2,225 3,284 1,527 5, (7,071) 22,711 12,249 (16,077) * ,573 1, , (163) (372) (4,863) (7,997) (1,571) 886 1,678 (8,168) 20,704 13,028 (7,487) * , , , , , , , , , ,636

317 ,860 48, , , , , , , , , ,354 19,358 23,076 12,845 13, **... 2,229 3,088 6,595 3,196 4, ,052 34,253 50,144 22,691 25, ,118 17, , , , , , ,148 26,952 *... 24,570 56,004 79,991 36,734 45, , , ,259 79,770 75, ,680 69, ,139 56,672 49, ,071 (22,711) (12,249) 16, ,199 1,840 2,851 2,151 2, ,864 14,667 3,018 1, (7) 163 (872) (738)... 88, , ,813 44,381 23, ,462 (1,062) * **

318 (a) (b) Narasimhan Brahmadesam Srinivasan

319 (c)... 1,043 1,478 1, , ,576 5, ,474 2,274 13,192 1,184 6,832 1,000, ,000,

320 ,379 2,654 8,958 3,087 13, (1,741) (2,705) (1,534) (1,678) (3,855) (51) 7,424 1,409 9,755 25% 16.5%... (150,587) (132,354) (215,941) 3, ,087 25%... (37,647) (33,089) (53,985) , ,693 18,537 (1,334) 11, ,271 24,272 40,927 1,304 (60,839)... 2,014 4,073 1, , (51) 7,424 1,409 9,755 (0.42%) 0.04% (3.44%)46.05% 4.27%

321 , (69,715) , , ,774, , (48,860)... (25,083)... (258,023)... 2,413, ,725, (311,599)... 2,413, ,413, ,764, (69,813)... (31,480)... (535,979)... 3,541, ,361, (820,731)... 3,541,029

322 ... 3,541, ,888, , (806,301)... (80,127)... (690,027)... 4,023, ,015, (991,786)... 4,023, ,023, , (337,026)... (275,135)... (341,429)... 3,957, ,944, (986,692)... 3,957, ,405,000599,514,000582,663, ,759, , (7,049) 19,744

323 4,219,0001,688, ,926 87, , , (10,275) (22,508) (35,132) (68,817)... 29,651 65, , , ,441 36,207 42,362 94, ,210 29,265 68, , ,346 45,390 49, , ,580 42,590 97, ,826 39,926 87, , , ,441 36,207 42,362 94, ,210 29,265 68, ,143 29,651 65, , ,962

324 ,959 41,723 54,660 64, ,601 1,363 7,266 16, (1,261) (852) (917) (3,030)... 6, ,349 13, , ,349 13, ,713 11,635 15,394 16,333 57, (4,032) (3,870) (2,452) (10,354)... (1) (102) (103)... 16,020 8,276 19,496 16,333 60, ,314 12,998 22,720 16,333 73, (5,294) (4,722) (3,224) (13,240)... 16,020 8,276 19,496 16,333 60,125

325 ... 16,020 8,276 19,496 16,333 60, ,325 9,390 9,026 31, (6,672) (7,375) (4,970) (341) (19,358)... (727) (15) (742)... 21,946 10,291 23,545 15,992 71, ,912 22,388 31,686 16, , (11,966) (12,097) (8,141) (341) (32,545)... 21,946 10,291 23,545 15,992 71, ,946 10,291 23,545 15,992 71, ,345 7,317 20,432 34, ,922 4,695 6, (5,456) (7,473) (9,806) (341) (23,076)... (183) (183)... 22,835 12,057 38,683 15,651 89, ,257 31,627 56,598 16, , (17,422) (19,570) (17,915) (682) (55,589)... 22,835 12,057 38,683 15,651 89,226

326 ... 22,835 12,057 38,683 15,651 89, ,385 8,566 4, , , (3,802) (3,051) (6,659) (171) (13,683)... (2,867) (135) (3,002)... 20,418 14,705 36, , , ,642 37,326 62, , , (21,224) (22,621) (25,779) (1,964) (71,588)... 20,418 14,705 36, , , ,333,00015,992,00015,651,000 15,480, ,237, ,583 7,414 7, , (169) (169) (84)... 7,583 7,414 7,245 7, (169) (169) (169) (169)... 7,414 7,245 7,076 6,

327 ,723 5, ,496 3, ,723 5,650 6, %

328 ,822 12,200 4,158 21, (1,104) (241) (1,345)... 3,718 11,959 4,158 19, ,718 11,959 4,158 19, ,583 4,930 8, , , (1,444) (29) (713) (43) (2,229)... 5, ,246 9,088 6, , , ,200 9,088 6, , (2,548) (29) (954) (43) (3,574)... 5, ,246 9,088 6, , , ,246 9,088 6, , ,347 11,371 15, ,887 11, ,554 (13,554 )... (2,277) (38) (716) (57) (3,088)... 7, , ,013 3,999 57, , , ,013 3, , (4,825) (67) (1,670) (100) (6,662)... 7, , ,013 3,999 57, , , ,013 3,999 57, , ,803 27, ,550 1,572 28,690 7,030 66, ,999 (3,999)... (3,427) (37) (1,511) (683) (937) (6,595)... 10, ,321 1,579 87,505 6, , , ,502 2,262 87,505 7, , (8,252) (104) (3,181) (683) (937) (100) (13,157 )... 10, ,321 1,579 87,505 6, , , ,321 1,579 87,505 6, , , ,980 9, (2,410) (19) (934) (223) (703) (4,289)... 13, ,443 1,837 92,485 5, , , ,558 2,743 92,485 7, , (10,662) (123) (4,115) (906) (1,640) (100) (17,546 )... 13, ,443 1,837 92,485 5, ,381

329 , , , ,996 17,431 24,029 24, ,561 4,206 10,996 39, , , ,343 94, , , (889) (5,753) (20,420) (21,900) 34,454 88, , , ,697 68, , , ,535 22,814 28, ,961 19,065 11, ,454 88, , ,527

330 ,753 20, ,864 14,667 1, ,753 20,420 21, ,433 24, , , ,436 18,435 47,091 43, ,485 23,716 33,232 10, ,354 67, , , , , , , ,306 19,366 55, , , , ,180 28, ,323 8,082 13,515 33, ,675 11,746 11,575 7, , , , ,801

331 , , , , , , , ,665 1,117,617 *... (8,762) (9,324) (1,830) (53,129) , , ,835 1,064, ,007, ,848,000673,970,000822,903,000 * 26 53,129,000

332 ,328 10,137 11,729 10, ,018 2,324 1,846 6, ,593 1, ,419 5,939 13,892 13,802 18, ,405 76, , , ,565 43,131 58,955 53, , , , , , , , ,351

333 26. (%) (%) (%) (%) , , , , , , , , , , ,085, , , , , ,079, , , , , , , ,590 1,541,747 2,496,330 2,247,576 2,530, , , , , ,298, , , , , , , , , , , ,145 1,563,299 1,701,361 2,326,160 2,994,475 3,810,875 4,231,590

334 ,101 1,666,237 1,788,302 1,280, , , , , ,563 74,356 1,411,381 2,077,353 1,995,132 1,938, , , ,634 1,113, ,245 19,233 1,304,742 1,025, ,571 6,266 18, , ,588 1,555,376 2,157, , , , , ,535 61,530 51, , , , , ,460 2,326,160 2,994,475 3,810,875 4,231,590 2,488,121,0002,886,692,000 2,707,336,000 2,933,608,000 1,524,962,000 2,507,232,0002,707,242,0002,733,514,000

335 1,770,655 2,493,857 3,433,332 3,674,270 * 140,726 83,496 * 200,000 22,549 11,432 *(a) 46,498 45,156 25,450 79,325 (a) 345, , , ,460 * (a)(b) 1,000 1,000 90,726 91,045 50,490 (c) 2,326,160 2,994,475 3,810,875 4,231,590 * 46 2,279,662,0002,949,319,0003,693,699,000 4,009,730,000 (a) (b) (c) 414,779,000417,122, ,817,000214,185, ,405,106599,514, ,663,000415,759, ,161, ,490,000 53,129, ,193,000926,153,000 1,075,947,000846,030,000

336 , , (64)... 3, (3,273) , ,

337 (498) (305) (305) , , (780) (229) (1,009)... 1, , (102) 1, ,216 1,926 3, , ,660 2,789 4, ,840,000156,869,000330,676,000131,608,000 17,092,00031,683,00027,080,00012,334,000

338 ... 4, (1,327)... 3, , (155)... 2, , (563)... 11, , (2,548) ,171 10% 10% ,0005,200,000, ,444,013

339 30. 14,035,595 7,017,798A7,017,797B 7,017,798A7,017,797B A B ,035, ,035, ,232, ,268,023

340 7,017, ,017, ,232, ,268, ,632, ,148,00026,952,000 A B (%) % 0.0% 0.0% (%) % 54.0% 53.0% (%) % 3.1% 2.63% A B (%) % 0.0% 0.0% (%) % 54.0% 53.0% (%) % 2.54% 2.59%

341 31. (a) 37 10% 50% 25% (b) (a) 100%54,732,000

342 ... 53, , , , (8,269)... (2,183)... (308)... 54, , , ,062 54,732 1,322,000 3, (37,062)... 6, (31,001) 28,256,0003,826, ,009, ,693,000

343 (b) 100% 6,327,000 (c) 100% 7,000,000 (d) 100% 2,100, (173) , , ,860 2,100 2,000 32,000

344 ... (1,860) (1,816) 184,000304,000 1,613,113, ,203,000 (e) 100%5,074, , (10)... (393)... 1, , , ,074 33,000

345 ... (5,074) (5,065) 18,787,000 4,874,000 2,704,036, ,143,000 (f) HertzHertzHertzPremiumRent A Car Hertz Corporation Hertz Holdings36,000,000 HertzHertzHertzPremiumRent A CarHertz100%Hertz Hertz Holdings 100,000,000Hertz Holdings10% 100,000,0001 Hertz Holdings Hertz Hertz

346 Hertz , , , , , , , (32,023)... (140,167)... (10,857) , , , ,423, , ,590 1,423,792 20,585,000 19,098, , ,753 Hertz 111,467,0009,410,000 2,755,153, ,563,000

347 (g) 100% 1,328, (4)... (120) , ,328 47,000 6, (1,328) (1,321) 1,096,000508,00095,000 1,862,094,000218,322,000

348 33. (a) 25,083,00031,480,000 80,127,00063,589,000275,135,000 Hertz100% 36,000,000 32(f) ,709 52,034 63,139 58, ,939 56,171 63,197 64, ,373 16,534 19,039 20,864 98, , , , ,499 18,150 99, ,574

349 37. a) LC Fund III, L.P.LC Fund III... Hertz Holdings China Youtong Science & Technology (Beijing) Co., Ltd.Youtong Beijing Beijing Huaxia United Culture and Media Co., Ltd... Beijing Huaxia United Automobile Service Co., Ltd Beijing Chexing Tianxia Consultancy Co., Ltd LC Fund III

350 b) 26 (i) (ii)... 34,046 59,728 3,905 3,905 (iii)... 1,013, ,358 58, , , , , ,514 1,163, ,358 58, ,277

351 (iv) , , , , ,420 43, ,994 5, ,900 36, ,302 Youtong Beijing ,488 LC Fund III , , , , ,542 (v) (vi) , ,351 7,411

352 (vii) Hertz Holdings ,098 (viii) Hertz Holdings

353 c) , , , Youtong Beijing , , ,218 36, ,253 LC Fund III ,420 43, , , , , , , ,956 1,597,568 *... 5,994 5, ,879 LC Fund III , ,950 1,597,568 * 7.04% 7.87% 5.65% 7.87% 5.84% 9.50% 8%

354 6,652,000 1,311,000 d) 8,172,0005,200,000 11,900,0001,302,000 e) ,529 1,921 1, ,051 4, ,529 8,972 1,071 5,141 9

355 , , , , , , ,064,488 2,208, , , ,530, , ,701,361 4,656,838

356 ... 68, , , , , , ,835 1,371, , , ,247, , ,597, , ,563,299 5,892,688

357 ... 29, , , , , , , , ,372 1,154, , , ,496, , , , ,145 4,927,957

358 ... 16,210 16, ,372 4, ,180 28, ,762 8, ,343 35, ,304 28, ,441 13, ,104 12, , , , ,245 1,012, ,012, , , ,541, , , , , ,413 3,525,229

359

360 40. ** *... (500) 20, (20,666)... (500) 20, (20,316)... (500) 15, (15,603)... (500) 12, (12,162) * **

361 ** * %... (5) (6,023) , (5) (8,447) , (5) (19,792) , (5)... 5 * ** 21

362 ,286 18, , , ,909,615 2,909, ,611 16, ,754,269 1,754,269 3,318,252 1,770,880 5,089, ,802 13, , , ,469,474 2,469, ,597,568 1,597, , , ,291 19, ,778,928 1,778,928 4,531,996 1,798,219 6,330,215

363 ,892 13, , , ,691,895 2,691, , , , , ,034 16, , ,238 4,609, ,272 5,147, ,939 5, , , ,764,408 1,764, ,273 3, , , , , ,270 9, ,223 14, ,703 2,954, ,493 14,480 3,772,180

364 ... 1,541,747 2,496,330 2,247,576 2,530, , ,145 1,563,299 1,701, , , (637,245) (910,372) (841,835) (1,064,488)... 2,450,794 2,713,381 2,969,040 3,167, ,767,873 5,058,295 6,167,071 6,986, % 54% 48% 45% ,00026,000,000, ,867,220, ,623,

365 A ,982,054 2,743,414 4,725, ,982,054 2,414,463 4,396, ,139,996,000151,381,000 6,561, ,341,000

366 3. 2,293,561,

367 B II (7)

368 (a) (b) (c) 4.29(1)

369 22 1. (a) (b) 27(2) 2. (a) (i)

370 (ii) (iii) (iv) (v)

371 (aa) (bb) (cc) (dd) (ee) (vi)

372 (vii) (aa) (bb) (cc) (6) (dd) (ee) (ff)

373 (viii) (ix) (x) (30) (b) (c) (i) (ii)

374 (iii) (iv) (v) (d) (e) (21)(10) (95%) (21)(10) (15)

375 (f) (g) (15) (18) (h)

376 (21) (i) (21)(20) (e) (21)(10) (14)(10) (i) (ii) (95%)

377 (aa) (bb) (cc) (dd) (ee) (ff) (20%) (gg) (j)

378 (30) (k) (l) (m) (i) (ii) (a) (b)

379 (n) (o) (20)

380 (14) (20) (p) (2) (q) (r) 3(f)

381 (s) (i) (ii) (t) (i) 12(ii)12 (iii) (3) (u)

382 3. (a) (b) (a) (b)(c) 37(d)(e) (c)

383 (d) (e) (m) (f) (a)(b) (c)

384 (a)(b) (c) (d) (g) (h) (i) (ii)(iii) (i) (j) 6 (1) (2)

385 (k) (l) (m) (n)

386 (28) (21) (o) (75%) (p) (4) (90%)(4)(2) (1)

387 (q) 4. Conyers Dill & Pearman (Cayman) Limited

388 A. 1. Cricket Square, Hutchins Drive, P. O. Box 2681, Grand Cayman KY1-1111, Cayman Islands Sze Ting CHAN ,0005,200,000, ,444,013 98,623, ,00026,000,000, ,867,220, Hertz HoldingsGrand JoySky SleekHaode GroupAmplewoodGrandsunGrand Union Amber Gem 355,137,265 8,295,895 53,723, ,223,775 24,800,00012,500,000688,068,025430,471,340

389 3. (i) (a) (b) (i) (ii) (i) (ii) (iii) 63,951,000 (c) (i) 20% (ii) (a) (b) (c) (d)

390 (1) (2) (3) (d) 10% (i) (ii) (iii) (e) (c) (d) (c) 10% (a) (b) 49,000,00049,000, ,000500,000

391 (c) (d) (e) (f) (g) (h) (i) (j) 10,00010, ,000,0002,000,000 Hertz 19,000,000 19,000,000Premium Auto Rental 500,000500,000 1,000,0001,000,000 1,000,0001,000, ,827,609163,539,192 Premium Auto Rental 1,000,0001,000, Premium Auto Rental1,391Hertz Holdings5,008, Premium Auto Rental5,122Hertz Holdings18,441, Premium Auto Rental3,486Hertz Holdings12,384, Premium Auto Rental10, Premium Auto Rental10, Premium Auto Rental 10, ,000

392 (k) (l) 500,000500, ,000500,000 (m) 49,000, ,000,000150,000,000 (n) (o) (p) (q) (r) (s) (t) (u) (v) 3,000,000LIU Cheng 1,950,0001,050,000 LIU Cheng35% 4HertzHertz Holdings 85,250,000 Hertz Holdings6Premium Auto Rental (China) Limited124,250,001 Premium Auto Rental 24,389, ,000500,000 50,000,000 10,000,00040,000,000 50,000,000 10,000,00040,000, ,000500, ,000,000100,000,000 3,000,0003,000, ,000,000100,000,000

393 (w) 100,000,000100,000,000 (x) 20, ,000 20, ,000 (y) Main Star Global Limited1 1, Main Star Global Limited 22.00Main Star Global Limited (z) 1,000,0001,000, II1 7. (a) (i) 10%

394 (ii) (iii) 10% 30 5% (iv) (i) (ii) (v) 30 (vi)

395 (b) (c) (d) 2,293,561, ,356,107 (i) (ii) (iii) (e)

396 26 229,356,107 10% 33.3% Grand Union 8.08 B. 1. (a) (b) (c) (d) (e) Ivy Emerging Markets Equity FundIvy International Growth Fund Waddell & Reed Advisors International Growth FundIvy Funds Variable Insurance Portfolio International GrowthIvy Investment Management Company Ivy Emerging Markets Equity FundIvy International Growth FundWaddell & Reed Advisors International Growth FundIvy Funds Variable Insurance Portfolio International Growth30 Gaoling Fund, L.P.YHG Investment, L.P. Gaoling Fund, L.P.YHG Investment, L.P.30

397 (f) (g) (h) (i) (j) Falcon Edge Global Master Fund, LP Falcon Edge Global Master Fund, LP 30 Davis Selected Advisers, L.P. Davis Selected Advisers, L.P Haode GroupSky SleekGrand JoyAmplewoodGrandsunAmber GemHertz Holdings

398 N/ N/072921

2 4 7 8 12 25 34 46 65 67 68 69 71 72 75 167 168 6.9% 66.4% 53% 68% 21.5% EBITDA 62.8% 6 B2C 2 B2C BB+ 2020 5 Global Capital 40 B2C 3 2012 4 2014 2014 1. 2014 2. 2014 C-BPI 3. 2014 CEO 2014 4. 2014 APP

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