#1Dingdong (Cayman) Limited 2023Q3 Results November 2023#2DISCLAIMER The following presentation has been prepared by Dingdong (Cayman) Limited ("Dingdong" or the "Company") solely for informational purposes and should not be construed to be, directly or indirectly, in whole or in part, an offer to buy or sell and/or an invitation and/or a recommendation and/or a solicitation of an offer to buy or sell any security or instrument or to participate in any investment or trading strategy, nor shall any part of it form the basis of, or be relied on in connection with, any contract or investment decision in relation to any securities or otherwise. This presentation does not contain all relevant information relating to the Company or its securities, particularly with respect to the risks and special considerations involved with an investment in the securities of the Company. Nothing contained in this document shall be relied upon as a promise or representation as to the past or future performance of the Company. Past performance does not guarantee or predict future performance. You acknowledge that any assessment of the Company that may be made by you will be independent of this document and that you will be solely responsible for your own assessment of the market and the market position of the Company and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the business of the Company. This document 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," "aims," "future," "intends," "plans," "believes," "estimates," "confident," "potential," "continue," or other similar expressions. Among other things, business outlook and quotations from management in this document, as well as Dingdong's strategic and operational plans, contain forward-looking statements. Dingdong may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in its interim and annual reports 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 but not limited to statements about Dingdong's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Dingdong's goals and strategies; Dingdong's future business development, financial conditions, and results of operations; the expected outlook of the on-demand e-commerce market in China; Dingdong's expectations regarding demand for and market acceptance of its products and services; Dingdong's expectations regarding its relationships with its users, clients, business partners, and other stakeholders; competition in Dingdong's industry; and relevant government policies and regulations relating to Dingdong's industry, and general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Dingdong's filings with the SEC. Dingdong undertakes no obligation to update any forward-looking statement, except as required under applicable law. This document also contains non-GAAP financial measures, the presentation of which is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with accounting principles generally accepted in the United States of America. In addition, the Company's calculation of these non-GAAP financial measures may be different from the calculation used by other companies, and therefore comparability may be limited. The reconciliation of those measures to the most comparable GAAP measures is contained within this document or the earnings press release. This document speaks as of September 30, 2023. Neither the delivery of this document nor any further discussions of the Company with any of the recipients shall, under any circumstances, create any implication that there has been no change in the affairs of the Company since that date. 叮咚 买菜#3Content 01 02 03 2023Q3 Financial and Operational Results Business Updates 2023Q3 Financial Highlights and Guidance 叮咚 买菜#42023Q3 Financial and Operational Results All figures in RMB Fourth consecutive quarter of non-GAAP profitability GAAP profitability for the second time since 2022Q4 GMV & Revenue GAAP & Non-GAAP Net Profit Q3 QoQ YOY Q3 GMV 5.7 billion QoQ +6.4% YOY 1 -13.0% GAAP net profit 2.1 million +38.7 million +347.0 million Margin +0.04% • • Reason Order volume +6.0% Strategic suspension of operations in a number • Average daily order volume per station +11.7% • of cities and stations leading to 9.8% decrease in GMV Resumption of offline shopping and travel Non-GAAP net profit 15.5 million +8.0 million +300.7 million Margin +0.3% • AOV +0.5% Revenue 5.1 billion +6.2% Operating highlights during peak holiday season Average monthly user order frequency 4.2 times QoQ +0.2 times 1 Users with monthly ARPU of more than RMB560 ~1 million -13.5% Shanghai GMV +7.8% Note 1 High base effect set in 2022Q3 due to Covid-19 restrictions in China. 叮咚 买菜#5Core Competitive Advantages Service Timely, efficient, and reliable instant home delivery Improving Order Fulfillment Efficiency Percentage of instant orders delivered within 40 minutes +6.8 percentage points YoY Average earliest available timeslot for scheduled orders -14.3 mins YoY • Optimized Network Layout of Regional Processing Centers Fulfillment expense ratio for regional processing centers -2.7 percentage points YoY Product Development Capabilities Core driving force Extensive SPUs, Concentrated SKUs SKUS with monthly sales exceeding 5 million +10, compared with Q1 . SKUS with monthly sales exceeding 10 million +3, compared with Q1 Improving Product Turnover Rate . Turnover time reduced to 10.7 days . Turnover time for frontline fulfillment stations reduced to 4.5 days 叮咚 买菜 IT-Enabled Supply Chain Capabilities Procurement → Production & Processing → Warehousing → Fulfillment & Distribution Logistics People Goods Warehousing End-to-end loss rate below 1.5%#6We are a Food Company with R&D and Production Capabilities Customers are Increasingly Buying Dingdong-branded Products Rather than Products on Dingdong Numerous private-label products are developed and produced in our 12 self-operated factories "Dingdong Handmade Thin Skin" series of rice flour products 爆足含馅量 一口馄饨半口虾 纯手工包制 有家里的味道 饺皮真的很薄 煮熟肉馅鼓鼓的 坚持手工包制 还原老店堂食口感 Our full-chain, closed-loop supply chain gives us a unique advantage when ensuring supply, quality, price, and efficiency. Generated more than RMB16 million in sales in just over two months. 叮咚 买菜#72023Q3 Financial Highlights Revenue RMB (M) 5,942.5 22Q3 -13.5% YoY +6.2% QoQ Net (Loss) Profit RMB (M) 5,139.7 4,840.6 23Q2 23Q3 ■GMV in Jiangsu and Zhejiang provinces achieved double-digit growth YoY and QoQ. 叮咚 买菜 -5.8% -4.8% +0.04% +0.3% Margin -285.2 -344.9 2.1 15.5 22Q3 23Q3 GAAP Net Non-GAAP Net (Loss) / Profit Profit#82023Q3 Financial Highlights Gross Profit RMB (M) Gross Margin Sales and Marketing Expenses Fulfillment Expenses As % of revenue RMB (M) RMB (M) 2.1% 26.8% 23.3% As % of revenue 1.9% 1,595.3 30.4% 1,199.3 30.0% 127.2 98.2 22Q3 1,785.5 G&A Expenses 1,562.2 RMB (M) 2.2% 22Q3 23Q3 133.3 22Q3 Note: The fees and rates in the above figure are based on GAAP standards. 叮咚 买菜 23Q3 1.7% 89.3 22Q3 23Q3 Product Development Expenses As % of revenue RMB (M) 4.3% As % of revenue 3.9% 255.0 199.3 23Q3 22Q3 23Q3#92023Q3 Financial Highlights Cash Position RMB (M) 5,519.0 5,633.0 Short-term investments 3,988.8 4,335.3 Cash, cash equivalents and 1,530.2 restricted cash 1,297.7 23Q2 23Q3 叮咚 买菜 Positive operating cash inflow of RMB130 million in Q3#10Guidance for the Fourth Quarter and Full Year of 2023 2023 Outlook ■2023Q4 non-GAAP net profit break even ■2023 Full Year non-GAAP net profit break even 叮咚 买菜#11叮咚 买菜 THANK YOU