#1每日 又好又快 优鲜 2Q 2021 Investor Presentation August 2021 A R TRENE resers www K#250 优鲜 Disclaimer The following presentation has been prepared by Missfresh Limited ("Missfresh" 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 certain statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1953, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to the Company's future financial or business performance, strategies or expectations. These statements typically contain words such as "expects" and "anticipates" and words of similar import. Any statement in this document that is not a statement of historical fact is a forward-looking statement and involves known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. There can be no assurance that the results and events contemplated by the forward looking statements contained herein will in fact occur. None of the future projections, expectations, estimates or prospects in this document should be taken as forecasts or promises nor should they be taken as implying any indication, assurance or guarantee that the assumptions on which such future projections, expectations, estimates or prospects have been prepared are correct or exhaustive or, in the case of assumptions, fully stated in the document. The Company also cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time and which may be beyond the Company's control. The Company assumes no duty to and does not undertake to update any forward-looking statements to reflect actual results, changes in assumptions or changes in factors affecting these statements. 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 available at our website http://ir.missfresh.cn. This document speaks as of June 30, 2021. 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. 又好又快 1#301 Company Overview A BA TRENE amm www ann www K#4Our Vision: To Become the Largest Platform to Drive Digitalization of China's Neighborhood Retail Industry + 优鲜 5 优鲜 [ A A = [ MON On-demand DMW Retail First to invent and launch the innovative DMW model 1P Online Retail Smart Supply Chain 又好又快 Source: According to iResearch B 1 Intelligent Fresh Market Leader in terms of the depth of digital transformation for fresh markets Marketplace Retail Al Network ("RAIN") Smart Logistics x N 41 Retail Cloud Service Leading technology innovation and industry know-how SaaS + Al Platform Smart Sales and Marketing 3#5Massive Neighborhood Retail Market in China with Multiple Business Models Calls for Emerging Super Platforms Digitalized neighborhood retail market size in 2025 RMB 7.2trn (US$1.1trn) 2020 5 优鲜 20.9% Online RMB11.9trn 2025E RMB15.7trn Total neighborhood retail market size 又好又快 45.5% Online 2025 China's Neighborhood Retail Landscape Driven by Digitalization Source: iResearch Note: USD/RMB = 6.4391 Traditional E-commerce Intelligent Fresh Markets Supermarket- to-Home Community Group Purchase DMW Product Variety RMB 600bn Product Quality and Convenience RMB 2.2trn Price Advantage RMB 1.4trn 4#602 Business Highlights A BA TRENE amm www ann www K#7On-demand DMW¹ Business: Focus on Quality Growth 5 优鲜 LE ||| 又好又快 Customer Strategy Online + Offline Customer Acquisition 2Q 2021 New Transacting Users YoY Growth -35% Membership Program Exclusive Products Exclusive Services Exclusive Benefits 2Q 2021 Revenue Contributed by Paid Members YoY Growth ~240% Notes: 1 Stands for Distributed Mini-warehouse Fish SSS *** Supply Chain Capabilities AAA Eggs Meat Flowers "FRESH" Diary Vegetables Joint Marketing with Top FMCG Brands Fruits 2Q 2021 Average Price per Order RMB96.1 6#8Intelligent Fresh Market & Retail Cloud Business Tangshan 50 优鲜 Xuzhou Til Xi'an Mianyang Zigong Chongqing Yunfu Dongguan Intelligent Fresh Market Contracted 58 Fresh Markets With 34 in Operations¹ 又好又快 Source: Company filings. Note: 1 As of June 30, 2021. Qingdao Yancheng Changshu Hefei Xuancheng Huangshan Shenzhen Retail Cloud On June 19, 2021, Missfresh and Tencent Smart Retail jointly held a strategic cooperation press conference on Retail Cloud business collaboration 腾讯智慧零售 Tencent Smart Retail 优鲜 MISS FRESH 7#903 Financial Highlights A BA FEE amm www ann www K#105 优鲜 2Q 2021 Highlights 又好又快 Total GMV RMB2,313.7mn 35.4% YoY Growth Total Number of Orders Fulfilled 23.8mn 32.2% YoY Growth Total Net Revenues RMB1,894.5mn 40.7% YoY Growth Average Price per Order RMB96.1 2.6% YoY Growth 9#1150 优鲜 Strong Growth in GMV and Revenue Total GMV In RMB Million 2018-2020 CAGR: 26.9% 4,726 2018 又好又快 7,597 2019 7,615 2020 YOY Growth: 35.4% 1,708 2Q 2020 2,314 2Q 2021 Total Net Revenues In RMB Million 2018-2020 CAGR: 6,130 ill? 1,346 2020 3,547 31.5% 2018 6,001 2019 YOY Growth: 40.7% 2Q 2020 1,895 2Q 2021 10#125 优鲜 Expanding Scale with Quality Growth Total Number of Orders Fulfilled In Million 又好又快 18.0 2Q 2020 YOY Growth: 32.2% 23.8 2Q 2021 Average Price per Order In RMB 93.7 2Q 2020 YOY Growth: 2.6% 96.1 2Q 2021 11#1350 优鲜 Solid Economy Model with Stable Cost Structure Gross Profit In RMB Million % Gross Margin 8.6% 304 2018 8.7% 521 2019 19.4% 1,190 2020 21.3% 287 2Q 2020 又好又快 Note: 1. Excluding share-based compensation expenses. 7.5% 142 2Q 2021 Non-GAAP (1) Fulfillment Expenses In RMB Million % of Total Revenues 34.9% 1,239 30.5% 2018 1,833 25.7% 1,577 ili.. 2020 2019 25.4% 28.2% 2Q 2020 2Q 2021 12#145 优鲜 Solid Economy Model with Stable Cost Structure (Cont'd) Non-GAAP(1) Sales & Marketing Expenses In RMB Million % of Total Revenues (22.4%) (12.3%) 9.6% (10.3%) (13.6% 795 Non-GAAP(1) General & Administrative Expenses In RMB Million % of Total Revenues 7.9% 5.7% 4.6% 4.1% 6.9% 又好又快 Note: 1. Excluding share-based compensation expenses. Non-GAAP(1) Technology & Content Expenses In RMB Million % of Total Revenues 6.2% 6.2% 5.3% 5.4% 5.2% 373 341 740 326 282 283 589 221 I.. 1.. ill.. 131 258 99 73 139 55 2018 2019 2020 2Q 2Q 2018 2019 2020 2Q 2Q 2018 2019 2020 2Q 2Q 2020 2020 2021 2021 2020 2021 13#1550 优鲜 GAAP to Non-GAAP Net Loss Reconciliation (In RMB thousand) Loss from Operations Share-based Compensation Expenses Non-GAAP Loss from Operations Net Loss Share-based Compensation Expenses Change in Fair Value of Options and Embedded Conversion Feature Non-GAAP Net Loss Net Loss Attributable to Ordinary Shareholders of Missfresh Limited Share-based Compensation Expenses Change in Fair Value of Options and Embedded Conversion Feature Accretion of Convertible Redeemable Preferred Shares to Redemption Value Accretion of Convertible Redeemable Non-controlling Preferred Shares to Redemption Value Non-GAAP Net Loss Attributable to Ordinary Shareholders of Missfresh Limited 又好又快 For the Three Months Ended June 30, 2020 (336,751) 14,391 (322,360) (339,817) 14,391 (325,426) (467,653) 14,391 126,094 1,742 (325,426) June 30, 2021 (1,493,677) 613,438 (880,239) (1,433,249) 613,438 (69,094) (888,905) (1,597,830) 613,438 (69,094) 162,467 1,724 (889,295) 14