Business Wire | Dec 29, 2021 04:30PM EST

DiDi Global Announces Unaudited Quarterly Financial Results

Dec. 29, 2021

BEIJING--(BUSINESS WIRE)--Dec. 29, 2021--DiDi Global Inc. ("DiDi" or the "Company") (NYSE: DIDI), the world's leading mobility technology platform, today announced its unaudited interim condensed financial results for the second quarter ended June 30, 2021 and the third quarter ended September 30, 2021.

DiDi Global Inc.

Unaudited interim condensed consolidated balance sheets

(Amounts in millions, except for per share data and otherwise noted, unaudited)

As of

December June 30, September 30, 31,

2020 2021 2021 2021

RMB RMB RMB US$ ^(1)

ASSETSCurrent assets:Cash and cash equivalents 19,372 26,096 48,649 7,550

Restricted cash 2,238 169 671 104

Short-term investments 37,398 15,169 12,554 1,948

Accounts and notes receivable,net of allowance for credit 2,438 3,376 3,008 467 losses of RMB556, RMB645 andRMB722, respectivelyLoan receivable, net of allowance 2,878 4,609 4,697 729 for credit losses of RMB146,RMB230 and RMB296, respectivelyAmounts due from related parties 103 2,368 2,449 380

Prepayments, receivables and 4,255 4,267 5,007 778 other current assets, netTotal current assets 68,682 56,054 77,035 11,956

Non-current assets:Investment securities 573 17,184 2,251 349

Long-term investments, net 7,105 11,238 9,020 1,400

Operating lease right-of-use 1,931 1,260 1,301 202 assetsProperty and equipment, net 9,819 10,803 8,461 1,313

Intangible assets, net 5,297 4,334 3,860 599

Goodwill 49,124 49,199 48,962 7,599

Non-current restricted cash 21 15 - -

Deferred tax assets, net 191 163 195 30

Other non-current assets, net 4,522 5,022 4,746 737

Total non-current assets 78,583 99,218 78,796 12,229

Total assets 147,265 155,272 155,831 24,185

LIABILITIES, MEZZANINE EQUITY ANDSHAREHOLDERS' EQUITY (DEFICIT)Current liabilities:Short-term borrowings 5,827 7,259 7,422 1,152

Accounts and notes payable 7,353 4,589 4,819 748

Deferred revenue and customer 915 780 711 110 advancesOperating lease liabilities, 679 453 471 73 current portionAmounts due to related parties 282 242 356 55

Accrued expenses and other 11,304 11,241 12,774 1,983 current liabilitiesTotal current liabilities 26,360 24,564 26,553 4,121

Non-current liabilities:Long-term borrowings 1,453 2,383 1,967 305

Operating lease liabilities, 1,172 741 734 114 non-current portionDeferred tax liabilities 844 627 581 90

Other non-current liabilities 286 304 281 44

Total non-current liabilities 3,755 4,055 3,563 553

Total liabilities 30,115 28,619 30,116 4,674

Commitments and contingenciesMezzanine equityConvertible preferred shares ^(2) 189,839 189,839 - -

Convertible redeemable 3,345 11,836 12,052 1,870 non-controlling interestsConvertible non-controlling 100 1,069 1,069 166 interestsTotal Mezzanine Equity 193,284 202,744 13,121 2,036

SHAREHOLDERS' EQUITY (DEFICIT):DiDi Global Inc. shareholders'equity (deficit):Ordinary shares (US$0.00002 parvalue; 1,617,583,821 shares,1,617,583,821 shares and5,000,000,000 shares authorized;124,067,444 shares, 193,302,859shares and 1,205,810,369 shares - - - - issued; 108,531,508 shares,168,885,317 shares and1,181,921,441 shares outstandingas of December 31, 2020, June 30,2021 and September 30,2021,respectively)Treasury shares - - - -

Additional paid-in capital 12,178 31,705 250,535 38,882

Statutory reserves 17 17 17 3

Accumulated other comprehensive (2,002 ) (2,698 ) (2,448 ) (380 )lossAccumulated deficit (86,411 ) (105,198 ) (135,578 ) (21,041 )

Total DiDi Global Inc. (76,218 ) (76,174 ) 112,526 17,464 shareholders' equity (deficit)Non-controlling interests 84 83 68 11

Total shareholders' equity (76,134 ) (76,091 ) 112,594 17,475 (deficit)Total liabilities, mezzanine 147,265 155,272 155,831 24,185 equity and shareholders' equity(deficit) (1) This results announcement contains translations of certain Renminbi ("RMB") amounts into U.S. dollars ("US$") for the convenience of the reader. Unless otherwise stated, all translations of RMB into US$ were made at RMB6.4434 to US$1.00, the exchange rate on September 30, 2021 as set forth in the H.10 statistical release of the Federal Reserve Board.

(2) The convertible preferred shares were converted to ordinary shares immediately prior to the closing of the Company's initial public offering in early July.

DiDi Global Inc.

Unaudited interim condensed consolidated statements of comprehensive income(loss)

(Amounts in millions, except for per share data and otherwise noted, unaudited)

For the Three Months Ended For the Six Months Ended For the Three Months Ended September 30, For the Nine Months Ended September 30, June 30, June 30,

2020 2021 2020 2021 2020 2021 2021 2020 2021 2021

RMB RMB RMB RMB RMB RMB US$ RMB RMB US$Revenues China Mobility 29,433 44,804 48,378 84,039 41,111 39,009 6,054 89,489 123,048 19,097

International 373 807 1,140 1,611 502 966 150 1,642 2,577 400

Other 1,361 2,601 2,121 4,725 1,785 2,700 419 3,906 7,425 1,152 InitiativesTotal revenues 31,167 48,212 51,639 90,375 43,398 42,675 6,623 95,037 133,050 20,649

Costs and expensesCost of (26,627 ) (42,561 ) (43,981 ) (80,158 ) (37,323 ) (40,784 ) (6,330 ) (81,304 ) (120,942 ) (18,770 )revenues ^(1)Operations and (926 ) (1,758 ) (1,823 ) (3,907 ) (1,219 ) (1,910 ) (296 ) (3,042 ) (5,817 ) (903 )supportSales and (1,498 ) (3,904 ) (3,267 ) (9,011 ) (2,654 ) (4,441 ) (689 ) (5,921 ) (13,452 ) (2,088 )marketingResearch and (1,435 ) (2,746 ) (2,913 ) (4,608 ) (1,568 ) (2,341 ) (363 ) (4,481 ) (6,949 ) (1,078 )developmentGeneral and (1,485 ) (21,847 ) (3,781 ) (23,949 ) (1,732 ) (2,253 ) (350 ) (5,513 ) (26,202 ) (4,066 )administrativeTotal costs and (31,971 ) (72,816 ) (55,765 ) (121,633 ) (44,496 ) (51,729 ) (8,028 ) (100,261 ) (173,362 ) (26,905 )expensesLoss from (804 ) (24,604 ) (4,126 ) (31,258 ) (1,098 ) (9,054 ) (1,405 ) (5,224 ) (40,312 ) (6,256 )operations ^(2)Interest income 298 190 635 377 309 202 31 944 579 90

Interest (20 ) (86 ) (39 ) (147 ) (46 ) (65 ) (10 ) (85 ) (212 ) (33 )expensesInvestment 561 (100 ) 99 12,261 830 (20,772 ) (3,224 ) 929 (8,511 ) (1,321 )income (loss),net ^(3)Income (loss)from equity (162 ) (130 ) (357 ) (175 ) (151 ) 115 18 (508 ) (60 ) (9 )methodinvestments,netOther income 11 532 (479 ) 148 780 (689 ) (107 ) 301 (541 ) (84 )(loss), netIncome (loss) (116 ) (24,198 ) (4,267 ) (18,794 ) 624 (30,263 ) (4,697 ) (3,643 ) (49,057 ) (7,613 )before incometaxesIncome tax 46 (73 ) 225 6 41 (112 ) (17 ) 266 (106 ) (16 )benefits(expenses)Net income (70 ) (24,271 ) (4,042 ) (18,788 ) 665 (30,375 ) (4,714 ) (3,377 ) (49,163 ) (7,629 )(loss)Less: Netincome (loss)attributable to (7 ) 1 (17 ) (1 ) (7 ) 5 1 (24 ) 4 1 non-controllinginterestshareholdersNet income(loss) (63 ) (24,272 ) (4,025 ) (18,787 ) 672 (30,380 ) (4,715 ) (3,353 ) (49,167 ) (7,630 )attributable toDiDi GlobalInc.Accretion ofconvertibleredeemable (41 ) (175 ) (60 ) (265 ) (45 ) (216 ) (34 ) (105 ) (481 ) (75 )non-controllinginterests toredemptionvalueDeemeddividends topreferredshareholders (1 ) - (1 ) - - - - (1 ) - - uponrepurchases ofconvertiblepreferredsharesIncomeallocation to - - - - (627 ) - - - - - participatingpreferredsharesNet lossattributable toordinary (105 ) (24,447 ) (4,086 ) (19,052 ) - (30,596 ) (4,749 ) (3,459 ) (49,648 ) (7,705 )shareholders ofDiDi GlobalInc.Net income (70 ) (24,271 ) (4,042 ) (18,788 ) 665 (30,375 ) (4,714 ) (3,377 ) (49,163 ) (7,629 )(loss)Othercomprehensive income (loss):Foreigncurrencytranslation (104 ) (1,117 ) (267 ) (691 ) (2,863 ) 250 39 (3,130 ) (441 ) (68 )adjustments,net of tax ofnilShare of othercomprehensive - (2 ) (1 ) (5 ) - - - (1 ) (5 ) (1 )loss of equitymethodinvesteesTotal other (104 ) (1,119 ) (268 ) (696 ) (2,863 ) 250 39 (3,131 ) (446 ) (69 )comprehensiveincome (loss)Total (174 ) (25,390 ) (4,310 ) (19,484 ) (2,198 ) (30,125 ) (4,675 ) (6,508 ) (49,609 ) (7,698 )comprehensivelossLess:comprehensiveincome (loss) (7 ) 1 (17 ) (1 ) (7 ) 5 1 (24 ) 4 1 attributable tonon-controllinginterestshareholdersComprehensiveloss (167 ) (25,391 ) (4,293 ) (19,483 ) (2,191 ) (30,130 ) (4,676 ) (6,484 ) (49,613 ) (7,699 )attributable toDiDi GlobalInc.Accretion ofconvertibleredeemable (41 ) (175 ) (60 ) (265 ) (45 ) (216 ) (34 ) (105 ) (481 ) (75 )non-controllinginterests toredemptionvalueDeemeddividends topreferredshareholders (1 ) - (1 ) - - - - (1 ) - - uponrepurchases ofconvertiblepreferredsharesIncomeallocation to - - - - (627 ) - - - - - participatingpreferredsharesComprehensivelossattributable to (209 ) (25,566 ) (4,354 ) (19,748 ) (2,863 ) (30,346 ) (4,710 ) (6,590 ) (50,094 ) (7,774 )ordinaryshareholders ofDiDi GlobalInc.Weightedaverage numberof ordinary shares used incomputing netloss per share-Basic 107,619,131 120,225,151 105,218,085 114,671,250 107,980,508 1,180,836,142 1,180,836,142 106,145,614 473,964,914 473,964,914

-Diluted 107,619,131 120,225,151 105,218,085 114,671,250 107,980,508 1,180,836,142 1,180,836,142 106,145,614 473,964,914 473,964,914

Net loss pershareattributable to ordinaryshareholders-Basic (0.97 ) (203.34 ) (38.84 ) (166.14 ) - (25.91 ) (4.02 ) (32.59 ) (104.75 ) (16.26 )

-Diluted (0.97 ) (203.34 ) (38.84 ) (166.14 ) - (25.91 ) (4.02 ) (32.59 ) (104.75 ) (16.26 )

Weightedaverage numberof ADSs used in computing netloss per ADS-Basic 430,476,524 480,900,604 420,872,340 458,685,000 431,922,032 4,723,344,568 4,723,344,568 424,582,456 1,895,859,656 1,895,859,656

-Diluted 430,476,524 480,900,604 420,872,340 458,685,000 431,922,032 4,723,344,568 4,723,344,568 424,582,456 1,895,859,656 1,895,859,656

Net loss perADSattributable to ordinaryshareholders-Basic (0.24 ) (50.84 ) (9.71 ) (41.54 ) - (6.48 ) (1.01 ) (8.15 ) (26.19 ) (4.06 )

-Diluted (0.24 ) (50.84 ) (9.71 ) (41.54 ) - (6.48 ) (1.01 ) (8.15 ) (26.19 ) (4.06 )

(1) For the three months ended September 30, 2021, cost of revenues included anasset impairment charge of RMB2.2 billion (US$0.3 billion) for certain assetsof the Company's bike and e-bike sharing business, which was mainly caused bythe adverse change in such business in the third quarter of 2021. (2) Included share-basedcompensation expenses as follows: For the Three Months Ended For the Six Months Ended For the Three Months Ended September 30, For the Nine Months Ended September 30, June 30, June 30,

2020 2021 2020 2021 2020 2021 2021 2020 2021 2021

RMB RMB RMB RMB RMB RMB US$ RMB RMB US$ Operations and 13 59 45 103 14 54 8 59 157 24 supportSales and 35 105 104 155 51 85 13 155 240 37 marketingResearch and 143 1,181 450 1,377 162 501 78 612 1,878 291 developmentGeneral and 344 20,476 1,599 20,883 359 484 75 1,958 21,367 3,316 administrative (3) Investment loss, net for the three months ended September 30, 2021 wasRMB20.8 billion (US$3.2 billion), primarily attributable to the investment lossarising from changes in fair value of the Company's investments in Chengxin (acompany engaged in community group buying business) due to the adverse changein Chengxin's business in the third quarter of 2021.DiDi Global Inc.

Unaudited interim condensed consolidated statements of cash flows

(Amounts in millions, unaudited)

For the Three Months Ended June 30,

For the Six Months Ended June 30,

For the Three Months Ended September 30,

For the Nine Months Ended September 30,

2020

2021

2020

2021

2020

2021

2021

2020

2021

2021

RMBRMBRMBRMBRMBRMBUS$RMBRMBUS$Net cash provided by (used in) operating activities1,686

(1,189

)

(1,297

)

(7,327

)

2,993

(5,055

)

(785

)

1,696

(12,382

)

(1,922

)

Net cash provided by (used in) investing activities(9,961

)

5,364

(5,732

)

3,350

465

306

47

(5,267

)

3,656

567

Net cash provided by (used in) financing activities1,289

(1,750

)

4,298

8,531

2,355

27,739

4,305

6,653

36,270

5,629

Effect of exchange rate changes on cash, cash equivalents and restricted cash241

(136

)

(232

)

95

(27

)

50

9

(259

)

145

23

Net increase (decrease) in cash, cash equivalents and restricted cash(6,745

)

2,289

(2,963

)

4,649

5,786

23,040

3,576

2,823

27,689

4,297

Cash, cash equivalents and restricted cash at the beginning of the period17,462

23,991

13,680

21,631

10,717

26,280

4,078

13,680

21,631

3,357

Cash, cash equivalents and restricted cash at the end of the period10,717

26,280

10,717

26,280

16,503

49,320

7,654

16,503

49,320

7,654

DiDi Global Inc.

Unaudited interim condensed consolidated statements of cash flows

(Amounts in millions, unaudited)

For the Three For the Six Months For the Three Months Ended For the Nine Months Ended Months Ended June Ended June 30, September 30, September 30, 30,

2020 2021 2020 2021 2020 2021 2021 2020 2021 2021

RMB RMB RMB RMB RMB RMB US$ RMB RMB US$Net cashprovided by 1,686 (1,189 ) (1,297 ) (7,327 ) 2,993 (5,055 ) (785 ) 1,696 (12,382 ) (1,922 )(used in)operatingactivitiesNet cashprovided by (9,961 ) 5,364 (5,732 ) 3,350 465 306 47 (5,267 ) 3,656 567 (used in)investingactivitiesNet cashprovided by 1,289 (1,750 ) 4,298 8,531 2,355 27,739 4,305 6,653 36,270 5,629 (used in)financingactivitiesEffect ofexchangeratechanges on 241 (136 ) (232 ) 95 (27 ) 50 9 (259 ) 145 23 cash, cashequivalentsandrestrictedcashNetincrease(decrease)in cash, (6,745 ) 2,289 (2,963 ) 4,649 5,786 23,040 3,576 2,823 27,689 4,297 cashequivalentsandrestrictedcashCash, cashequivalentsandrestricted 17,462 23,991 13,680 21,631 10,717 26,280 4,078 13,680 21,631 3,357 cash at thebeginningof theperiodCash, cashequivalentsand 10,717 26,280 10,717 26,280 16,503 49,320 7,654 16,503 49,320 7,654 restrictedcash at theend of theperiodSelected financial information of segmentsThe following table presents information about revenues and Adjusted EBITA by segment, and a reconciliation from the segment Adjusted EBITA to total consolidated loss from operations for the periods presented:For the Three Months Ended June 30,

For the Six Months Ended June 30,

For the Three Months Ended September 30,

For the Nine Months Ended September 30,

2020

2021

2020

2021

2020

2021

2021

2020

2021

2021

RMBRMBRMBRMBRMBRMBUS$RMBRMBUS$Revenues:(Amounts in millions, unaudited)China Mobility29,433

44,804

48,378

84,039

41,111

39,009

6,054

89,489

123,048

19,097

International373

807

1,140

1,611

502

966

150

1,642

2,577

400

Other Initiatives1,361

2,601

2,121

4,725

1,785

2,700

419

3,906

7,425

1,152

Total segment revenues31,167

48,212

51,639

90,375

43,398

42,675

6,623

95,037

133,050

20,649

Adjusted EBITA:China Mobility1,733

1,686

2,349

5,304

2,120

(29

)

(5

)

4,469

5,275

819

International(590

)

(1,191

)

(1,261

)

(2,196

)

(763

)

(1,789

)

(278

)

(2,024

)

(3,985

)

(618

)

Other Initiatives(916

)

(2,801

)

(2,012

)

(10,879

)

(1,374

)

(5,678

)

(881

)

(3,386

)

(16,557

)

(2,570

)

Total Adjusted EBITA (non-GAAP)227

(2,306

)

(924

)

(7,771

)

(17

)

(7,496

)

(1,164

)

(941

)

(15,267

)

(2,369

)

Share-based compensation(535

)

(21,821

)

(2,198

)

(22,518

)

(586

)

(1,124

)

(174

)

(2,784

)

(23,642

)

(3,668

)

Amortization of intangible assets(496

)

(477

)

(1,004

)

(969

)

(495

)

(434

)

(67

)

(1,499

)

(1,403

)

(219

)

Total consolidated loss from operations(804

)

(24,604

)

(4,126

)

(31,258

)

(1,098

)

(9,054

)

(1,405

)

(5,224

)

(40,312

)

(6,256

)

The following table presents the total depreciation expenses of property and equipment by segment for the periods presented:For the Three Months Ended June 30,

For the Six Months Ended June 30,

For the Three Months Ended September 30,

For the Nine Months Ended September 30,

2020

2021

2020

2021

2020

2021

2021

2020

2021

2021

RMBRMBRMBRMBRMBRMBUS$RMBRMBUS$(Amounts in millions, unaudited)China Mobility66

72

133

151

62

71

11

195

222

34

International14

28

28

52

15

30

5

43

82

13

Other Initiatives646

976

1,180

1,941

790

1,099

172

1,970

3,040

472

Total depreciation expenses of property and equipment726

1,076

1,341

2,144

867

1,200

188

2,208

3,344

519

Selected financial information of segments The following table presents information about revenues and Adjusted EBITA bysegment, and a reconciliation from the segment Adjusted EBITA to totalconsolidated loss from operations for the periods presented: For the Three Months For the Six Months For the Three Months Ended For the Nine Months Ended Ended June 30, Ended June 30, September 30, September 30,

2020 2021 2020 2021 2020 2021 2021 2020 2021 2021

RMB RMB RMB RMB RMB RMB US$ RMB RMB US$Revenues: (Amounts in millions, unaudited)China 29,433 44,804 48,378 84,039 41,111 39,009 6,054 89,489 123,048 19,097 MobilityInternational 373 807 1,140 1,611 502 966 150 1,642 2,577 400

Other 1,361 2,601 2,121 4,725 1,785 2,700 419 3,906 7,425 1,152 InitiativesTotal segment 31,167 48,212 51,639 90,375 43,398 42,675 6,623 95,037 133,050 20,649 revenues AdjustedEBITA:China 1,733 1,686 2,349 5,304 2,120 (29 ) (5 ) 4,469 5,275 819 MobilityInternational (590 ) (1,191 ) (1,261 ) (2,196 ) (763 ) (1,789 ) (278 ) (2,024 ) (3,985 ) (618 )

Other (916 ) (2,801 ) (2,012 ) (10,879 ) (1,374 ) (5,678 ) (881 ) (3,386 ) (16,557 ) (2,570 )InitiativesTotalAdjusted 227 (2,306 ) (924 ) (7,771 ) (17 ) (7,496 ) (1,164 ) (941 ) (15,267 ) (2,369 )EBITA(non-GAAP)Share-based (535 ) (21,821 ) (2,198 ) (22,518 ) (586 ) (1,124 ) (174 ) (2,784 ) (23,642 ) (3,668 )compensationAmortization (496 ) (477 ) (1,004 ) (969 ) (495 ) (434 ) (67 ) (1,499 ) (1,403 ) (219 )of intangibleassetsTotalconsolidated (804 ) (24,604 ) (4,126 ) (31,258 ) (1,098 ) (9,054 ) (1,405 ) (5,224 ) (40,312 ) (6,256 )loss fromoperations The following table presents the total depreciation expenses of property andequipment by segment for the periods presented: For the Three Months For the Six Months For the Three Months Ended For the Nine Months Ended Ended June 30, Ended June 30, September 30, September 30,

2020 2021 2020 2021 2020 2021 2021 2020 2021 2021

RMB RMB RMB RMB RMB RMB US$ RMB RMB US$ (Amounts in millions, unaudited)China 66 72 133 151 62 71 11 195 222 34 MobilityInternational 14 28 28 52 15 30 5 43 82 13

Other 646 976 1,180 1,941 790 1,099 172 1,970 3,040 472 InitiativesTotaldepreciation 726 1,076 1,341 2,144 867 1,200 188 2,208 3,344 519 expenses ofproperty andequipmentDiDi Global Inc.

Unaudited reconciliation of GAAP and Non-GAAP results

(Amounts in millions, unaudited)

For the Three Months Ended June 30,

For the Six Months Ended June 30,

For the Three Months Ended September 30,

For the Nine Months Ended September 30,

2020

2021

2020

2021

2020

2021

2021

2020

2021

2021

RMBRMBRMBRMBRMBRMBUS$RMBRMBUS$Net income (loss)(70

)

(24,271

)

(4,042

)

(18,788

)

665

(30,375

)

(4,714

)

(3,377

)

(49,163

)

(7,629

)

Less: Interest income(298

)

(190

)

(635

)

(377

)

(309

)

(202

)

(31

)

(944

)

(579

)

(90

)

Add: Interest expenses20

86

39

147

46

65

10

85

212

33

Less: Investment income (loss), net(561

)

100

(99

)

(12,261

)

(830

)

20,772

3,224

(929

)

8,511

1,321

Add: Loss (income) from equity method investments, net162

130

357

175

151

(115

)

(18

)

508

60

9

Less: Other income (loss), net(11

)

(532

)

479

(148

)

(780

)

689

107

(301

)

541

84

Less: Income tax benefits (expenses)(46

)

73

(225

)

(6

)

(41

)

112

17

(266

)

106

16

Loss from operations(804

)

(24,604

)

(4,126

)

(31,258

)

(1,098

)

(9,054

)

(1,405

)

(5,224

)

(40,312

)

(6,256

)

Add: Share-based compensation expenses535

21,821

2,198

22,518

586

1,124

174

2,784

23,642

3,668

Add: Amortization of intangible assets496

477

1,004

969

495

434

67

1,499

1,403

219

Adjusted EBITA (non-GAAP)227

(2,306

)

(924

)

(7,771

)

(17

)

(7,496

)

(1,164

)

(941

)

(15,267

)

(2,369

)

Third Quarter 2021 Financial and Operational Metrics

* Total revenues for the third quarter of 2021 were RMB42.7 billion (US$6.6 billion). Total revenues from the China Mobility segment for the third quarter of 2021 were RMB39.0 billion (US$6.1 billion). Total revenues from the International segment for the third quarter of 2021 were RMB1.0 billion (US$0.1 billion). Total revenues from the Other Initiatives segment for the third quarter of 2021 were RMB2.7 billion (US$0.4 billion). * Net loss attributable to ordinary shareholders for the third quarter of 2021 was RMB30.6 billion (US$4.7 billion). * Adjusted EBITA (Non-GAAP)1 for the third quarter of 2021 was a loss of RMB7.5 billion (US$1.2 billion). The Adjusted EBITA (non-GAAP) of China Mobility segment was a loss of RMB29 million (US$5 million) in the third quarter of 2021. The Adjusted EBITA loss (non-GAAP) of the International segment were RMB1.8 billion (US$0.3 billion) in the third quarter of 2021. The Adjusted EBITA loss (non-GAAP) of the Other Initiatives segment were RMB5.7 billion (US$0.9 billion) in the third quarter of 2021. * Core Platform Transactions for the third quarter of 2021 were 2,855 million. Transactions of China Mobility segment for the third quarter of 2021 were 2,356 million. Transactions from the International segment for the third quarter of 2021 were 499 million. * Core Platform Gross Transaction Value ("GTV")2 for the third quarter of 2021 reached RMB68.7 billion (US$10.7 billion). GTV from the China Mobility segment for the third quarter of 2021 reached RMB58.4 billion (US$9.1 billion). GTV from the International segment for the third quarter of 2021 reached RMB10.3 billion (US$1.6 billion). * Platform Sales3 from China Mobility and International segments for the third quarter of 2021 were RMB9.7 billion (US$1.5 billion). Platform Sales from the China Mobility segment for the third quarter of 2021 reached RMB8.9 billion (US$1.4 billion). Platform Sales from the International segment for the third quarter of 2021 reached RMB0.8 billion (US$0.1 billion).

Second Quarter 2021 Financial and Operational Metrics

* Total revenues for the second quarter of 2021 were RMB48.2 billion. Total revenues from the China Mobility segment for the second quarter of 2021 were RMB44.8 billion. Total revenues from the International segment for the second quarter of 2021 were RMB0.8 billion. Total revenues from the Other Initiatives segment for the second quarter of 2021 were RMB2.6 billion. * Net loss attributable to ordinary shareholders for the second quarter of 2021 was RMB24.4 billion. * Adjusted EBITA (Non-GAAP) for the second quarter of 2021 was a loss of RMB2.3 billion. * Core Platform Transactions for the second quarter of 2021 were 3,004 million. Transactions from the China Mobility segment for the second quarter of 2021 were 2,570 million. Transactions from the International segment for the second quarter of 2021 were 434 million. * Core Platform Gross Transaction Value ("GTV") for the second quarter of 2021 reached RMB73.3 billion. GTV from the China Mobility segment for the second quarter of 2021 reached RMB64.6 billion. GTV from the International segment for the second quarter of 2021 reached RMB8.7 billion. * Platform Sales from China Mobility and International segments for the second quarter of 2021 reached RMB11.5 billion. Platform Sales from the China Mobility segment for the second quarter of 2021 reached RMB10.7 billion. Platform Sales from the International segment for the second quarter of 2021 reached RMB0.8 billion.

On December 3, 2021, DiDi announced that its board of directors (the "Board") has authorized and supports the Company to undertake the necessary procedures and file the relevant application(s) for the delisting of the Company's ADSs from the New York Stock Exchange, while ensuring that ADSs will be convertible into freely tradable shares of the Company on another internationally recognized stock exchange at the election of ADS holders. The Company will organize a shareholders meeting to vote on the above matter at an appropriate time in the future, following necessary procedures. The Board has also authorized the Company to pursue a listing of its class A ordinary shares on the Main Board of the Hong Kong Stock Exchange. The Company is executing above plans and will update investors in due course.

About DiDi Global Inc.

DiDi Global Inc. (NYSE: DIDI) is the world's leading mobility technology platform. It offers a wide range of app-based services across Asia Pacific, Latin America and Africa, as well as in Central Asia and Russia, including ride hailing, taxi hailing, chauffeur, hitch and other forms of shared mobility as well as auto solutions, food delivery, intra-city freight and financial services.

Use of Non-GAAP Financial Measure

In evaluating the business, the Company considers and uses Adjusted EBITA, a non-GAAP financial measure, to supplement the review and assessment of its operating performance. The Company defines Adjusted EBITA as net income or loss before (i) interest income, (ii) interest expenses, (iii) investment income (loss), net, (iv) impairment loss for equity investments accounted for using cost method/Measurement Alternative, (v) loss (income) from equity method investments, net, (vi) other income (loss), net, (vii) income tax benefits (expenses), (viii) share-based compensation expense, and (ix) amortization of intangible assets.

This non-GAAP financial measure is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. It should not be considered in isolation or construed as an alternative to net income (loss) or any other measure of performance or as an indicator of the Company's operating performance. Investors are encouraged to review this historical non-GAAP financial measure in light of the most directly comparable GAAP measure. The non-GAAP financial measure may not be comparable to similarly titled measures presented by other companies.

For more information on the non-GAAP financial measure, please see the tables captioned "Unaudited Reconciliations of GAAP and Non-GAAP Results" set forth in this press release.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars were made at a rate of RMB6.4434 to US$1.00, the exchange rate in effect as of September 30, 2021 as set forth in the H.10 statistical release of the Federal Reserve Board.

Safe Harbor Statement

This press release contains statements that may constitute "forward-looking" statements which are made pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to," and similar statements. Statements that are not historical facts, including statements about the Company's beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

1 Adjusted EBITA (non-GAAP) is defined as net income or loss before (i) interest income, (ii) interest expenses, (iii) investment income (loss), net, (iv) impairment loss for equity investments accounted for using cost method/Measurement Alternative, (v) loss (income) from equity method investments, net, (vi) other income (loss), net, (vii) income tax benefits (expenses), (viii) share-based compensation expense, and (ix) amortization of intangible assets.

2 GTV, which stands for gross transaction value, refers to the total dollar value, including any applicable taxes, tolls and fees, of completed transactions on the Company's platform without any adjustment for consumer incentives or for earnings and incentives paid to drivers for mobility services, merchant or delivery partners for food delivery services, or service partners for other initiatives.

3 Platform Sales refers to GTV less all of the earnings and incentives paid to drivers and partners, tolls, fees, taxes and others.

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CONTACT: For investor inquiries: DiDi Global Inc. Tianyi Wang Email: ir@didiglobal.com

CONTACT: For media inquiries: DiDi Global Inc. Global Communications Team Email: globalpr@didiglobal.com