Renren Announces Appointment of New Auditor

BEIJING,Dec. 12,2020 --Renren Inc.(NYSE: RENN) ("Renren" or the "Company"),which operates a premium used auto business inChinathrough its subsidiaryKaixin Auto Holdings(NASDAQ: KXIN) as well as several U.S.-based SaaS businesses,today announced the appointment ofMarcum Bernstein & Pinchuk LLP("MarcumBP") as its independent registered public accounting firm,effectiveDecember 9,2020.

The appointment of MarcumBP was made after a careful and thorough evaluation process and has been approved byRenren'sboard and audit committee.

MarcumBP will replaceKPMG Huazhen LLP("KPMG") asRenren'sindependent registered public accounting firm. Renren'sdecision to change its auditor was not the result of any disagreement betweenRenrenandKPMGon any matter of accounting principles or practices,financial statement disclosure,or auditing scope or procedure.

AboutRenren Inc.

Renren Inc.(NYSE: RENN) operates a premium used auto business inChinathrough its subsidiaryKaixin Auto Holdings(NASDAQ: KXIN) as well as several US-based SaaS businesses.Renren'sAmerican depositary shares,each of which currently represents forty-five (45) Class A ordinary shares,trade onNYSEunder the symbol "RENN".

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under 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," "future," "intends," "plans," "believes," "estimates" and similar statements.Renrenmay also make written or oral forward-looking statements in its filings with theU.S. Securities and Exchange Commission(the "SEC"),in its annual report to shareholders,in press releases and other written materials and in oral statements made by its officers,directors or employees to third parties. Statements that are not historical facts,including statements aboutRenren'sbeliefs and expectations,are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in our annual report on Form 20-F,the 6-K referred to above and other documents filed with theSEC. All information provided in this press release is as of the date of this press release,andRenrendoes not undertake any obligation to update any forward-looking statement,except as required under applicable law.

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