PPDAI Group Inc. Announces Updates on Fourth Quarter 2018 Institutional Funding and Loan Origination Volume Growth

SHANGHAI,Jan.29,2019 -- PPDAI Group Inc. ("PPDAI," "Paipaidai," or the "Company") (NYSE: PPDF),a leading online consumer financemarketplace in China,today announcedupdates on its growth in institutional funding and loan origination volume for the fourth quarter of 2018.

The Company's loan origination volume facilitated with institutional funding increased significantly by 71.2% to RMB3.6 billion in the fourth quarter of 2018 from RMB2.1 billion in the third quarter of 2018.

Benefiting from the rapid growth in institutional funding,the Company's total loan origination volume in the fourth quarter of 2018 increased by 19.2% to RMB17.6 billion from RMB14.8 billion in the third quarter of 2018. In the fourth quarter of 2018,the proportion of loans facilitated with institution funds to total loan origination volume was 20.4%,compared to 14.3% in the third quarter of 2018. As a result,for the full year 2018,the Company achieved total loan origination volume of approximately RMB61.5 billion.

Mr. Jun Zhang,the chairman and a co-chief executive officer of PPDAI,commented,"We have been embracing regulations and made further efforts to strengthen our institutional funding capabilities. We are encouraged with our solid progress over the last few quarters and have developed a diversified institutional investor base covering a range of financial institutions. Looking forward,we are confident in our ability to attract more institutional investors and further diversify our funding source."

About PPDAI Group Inc.

PPDAI is a leading online consumer finance marketplace in China with strong brand recognition. Launched in 2007,the Company is the first online consumer finance marketplace in China connecting borrowers and investors. As a pioneer in China's online consumer finance marketplace,the Company benefits from both its early-mover advantages and the invaluable data and experience accumulated throughout multiple complete loan lifecycles. The Company's platform,empowered by its proprietary,cutting-edge technologies,features a highly automated loan transaction process,which enables a superior user experience,as evidenced by the rapid growth of the Company's user base and loan origination volume. As of September 30,2018,the Company had over 83 million cumulative registered users.

For more information,please visit http://ir.ppdai.com.

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934,as amended,and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "confident" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions and relate to events that involve known or unknown risks,uncertainties and other factors,all of which are difficult to predict and many of which are beyond the Company's control. Forward-looking statements involve risks,uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include,but are not limited to,uncertainties as to the Company's ability to attract and retain borrowers and investors on its marketplace,its ability to increase volume of loans facilitated through the Company's marketplace,its ability to introduce new loan products and platform enhancements,its ability to compete effectively,laws,regulations and governmental policies relating to the online consumer finance industry in China,general economic conditions in China,and the Company's ability to meet the standards necessary to maintain listing of its ADSs on the NYSE,including its ability to cure any non-compliance with the NYSE's continued listing criteria. Further information regarding these and other risks,uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release,and PPDAI does not undertake any obligation to update any forward-looking statement as a result of new information,future events or otherwise,except as required under applicable law.

For investor and media inquiries,please contact:

In China:

PPDAI Group Inc.

Jimmy Tan / Sally Huo

Tel: +86 (21) 8030 3200 Ext. 8601

E-mail: ir@ppdai.com

The Piacente Group,Inc.

Ross Warner

Tel: +86 (10) 5730-6202

E-mail: paipaidai@tpg-ir.com

In the United States:

The Piacente Group,Inc.

Brandi Piacente

Tel: +1-212-481-2050

E-mail: paipaidai@tpg-ir.com

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