Firm Analyst
BNP Paribas
Jenny Tsai
CCB International
Eric Qiu
Lei Yang
Mariana Kou
Credit Suisse
Alex Xie
Goldman Sachs
Christine Cho
Johnny Wong
Carson Lo

Tarena International, Inc. is followed by the analysts listed above. Please note that any opinions, estimates or forecasts regarding Tarena International, Inc.'s performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of Tarena International, Inc. or its management. Tarena International, Inc. does not by its reference above or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.