[CONFIDENTIAL TREATMENT REQUESTED BY QUNAR CAYMAN ISLANDS LIMITED PROSPECTUS (Subject to Completion) Issued , 2013 American Depositary Shares Qunar Cayman Islands Limited Representing Ordinary Shares This is the initial public offering of American depositary shares, or ADSs, of Qunar Cayman Islands Limited. We are offering ADSs. Each ADS represents ordinary shares, par value US$0.001 per share, of us. Prior to] [THE COMPANIES LAW (REVISED) OF THE CAYMAN ISLANDS COMPANY LIMITED BY SHARES THIRD AMENDED AND RESTATED MEMORANDUM AND ARTICLES OF ASSOCIATION OF QUNAR CAYMAN ISLANDS LIMITED (adopted by a special resolution passed on July 12, 2011 and effective on July 20, 2011) THE COMPANIES LAW (REVISED) OF THE CAYMAN ISLANDS COMPANY LIMITED BY SHARES THIRD AMENDED AND RESTATED MEMORANDUM OF] [EXECUTION VERSION QUNAR CAYMAN ISLANDS LIMITED TRANSFER OF SHARES AGREEMENT Agreement Company Baidu Founder Founders Key Shareholders Deed of Adherence Minority Shareholders Shareholders Non-Founder Shareholders This Transfer of Shares Agreement (this “ RECITALS Ordinary Shares Purchase Agreement Ordinary Shares A. The Company and Baidu are parties to that certain Ordinary Shares Purchase Agreement dated as of June 24, 2011 (the] [EXECUTION VERSION QUNAR CAYMAN ISLANDS LIMITED AMENDED AND RESTATED VOTING AGREEMENT Agreement Company Baidu Key Shareholders Deed of Adherence Minority Shareholder Minority Shareholders Shareholders This Amended and Restated Voting Agreement (this “ RECITALS Ordinary Shares Purchase Agreement Ordinary Shares A. The Company and Baidu are parties to that certain Ordinary Shares Purchase Agreement dated as of June 24, 2011 (the] [EXECUTION VERSION ORDINARY SHARES PURCHASE AGREEMENT between QUNAR CAYMAN ISLANDS LIMITED and BAIDU HOLDINGS LIMITED dated as of June 24, 2011 TABLE OF CONTENTS Page 1. Purchase and Sale of Ordinary Shares 2 1.1 Sale and Issuance of Ordinary Shares 2 1.2 Closing; Delivery 2 1.3 Defined Terms Used in this Agreement 3 2.]