#1MANAGEMENT PRESENTATION April 2021 ONION GLOBAL#2DISCLAIMER These presentation materials have been prepared by Onion Global Limited (the "Company"), solely for the use at this presentation and have not been independently verified. This presentation material is being presented solely for your information and may not be copied, reproduced or redistributed, in whole or in part, directly or indirectly, to any other person in any manner, for any purpose. By viewing or accessing the information contained in this presentation, you hereby acknowledge and agree to keep the con- tents of this presentation and the information included herein strictly confidential. Participants must return this presentation and all other materials provided in connection herewith to the Company at the completion of the presentation. By participating in this presentation, you agree to be bound by the foregoing limitations. Any failure to comply with these restrictions may constitute a violation of applicable securities laws. This presentation should not be construed as legal, tax, investment or other advice. This presentation does not constitute a prospectus within the meaning of the U.S. Securi- ties Act of 1933, as amended (the "Securities Act"), nor an offer, solicitation or invitation to purchase or subscribe for any securities of the Company, nor may it or any part of it form the basis of or be relied upon in connection with any contract, commitment or investment decision whatsoever, in the United States or anywhere else. No securities of the Company may be sold in the United States without registration with the United States Securities and Exchange Commission or an exemption from such registration pur- suant to the Securities Act and the rules and regulations promulgated thereunder. Certain data in this presentation was obtained from various external data sources, and the Company has not verified such data with independent sources. No representation is made as to, and no reliance should be placed on, the accuracy, fairness or completeness of that data. Neither the Company nor any of its affiliates, advisers, directors, offi- cers, employees, agents, representatives or underwriters accepts any responsibility whatsoever for, or shall be liable for any loss or damage arising from any information pre- sented or contained in this presentation. This presentation contains forward-looking statements based on the currently held beliefs, expectations and assumptions of the management of the Company. Such state- ments can be identified by the use of words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "should," "will," "would," "project," and similar expressions, or the negatives thereof. These statements are individually and collectively forward-looking statements within the meaning of Section 27A of the Securi- ties Act and Section 21E of the Securities Exchange Act of 1934. These statements are not guarantees of future performance and are subject to certain risks and assumptions and actual results may differ from those in the forward-looking statements as a result of various factors and assumptions, many of which are beyond the Company's control, and future results could materially differ from historical performance. The Company and its affiliates, advisers, directors, officers, employees, agents, representatives or un- derwriters assume no obligation and disclaim any intention to update or revise forward-looking statements to reflect future events or circumstances. 02#3OFFERING SUMMARY Issuer Listing Venue Offering Type Shares Offered Price Range Expected Pricing Date Lock-up Use of Proceeds Joint Bookrunners Co-managers • Onion Global Limited • NYSE (Stock Code: "OG") • Initial Public Offering Base offering: 12,500,000 ADSS, each ten ADSS represent one Class A ordinary share, 100% primary • Over-allotment option: 15%, 100% primary • $7.25 - $9.25 per ADS • Thursday, May 6, 2021 • 180 days for the Company, directors, executive officers, existing shareholders • Development of private label brands and brand Partnerships • Expansion and diversification of our marketing and distribution channels • Enhancement of our technological capabilities • Working capital and general corporate purposes, including potential strategic investments and acquisitions. • AMTD, Huatai Securities • Roth Capital Partners, Tiger Brokers, Valuable Capital Limited 03#4TABLE OF CONTENTS 1 2 3 4 Company Overview Business Overview & Investment Highlights Operating & Financial Highlights Growth Strategies P05 P11 P21 P30 04#51 Company Overview#6CHINA'S TOP 10 GLOBAL LIFESTYLE BRAND PLATFORM & CHINA'S TOP 5 CROSS-BORDER E-COMMERCE PLATFORM Third-party brands BLACKMORES 演 AHC Bayer RMB 4.4B total GMV in 2020 餐旅馆 elevit Healthy Care HiPP 百宝 CALIMA BABY LABORATOINEE FILORGA RMB 3.8B revenue achieved in 2020, 5 years since inception + Strategic growth brand partners Meadjohnson E Schiff LANEIGE 691k KOCS with 15M registered users in total Sulwhasoo 4,001 brands among 23 product categories across 44 countries/regions Private label brands FANCIES E DERMADIVA ** Sbrigo 野隐性变 HAZU Surei Labo RMB 208M³ net income in 2020 TENKOU RYUUGI *All financial and operational data as at December 31, 2020, unless otherwise specified 1. in terms of total revenue in 2019, according to the CIC Report. 2. In terms of GMV generated from cross-border online retail in 2019, according to the CC Report 3. Includes both (a) GMV generated by sales through self-operated distribution channels (including O'Mal) and third-party platforms and (b) all types of payments made by individuals who would like open an OPartner account registered with our system 06 102.3% net income growth in 2020 vs 2019#7OUR MISSION BECOME THE DREAM FACTORY OF LIFESTYLE BRANDS NIKE Y asos U Chile Dior P&G KERING Brand incubation gene ONION GLOBAL Social networking gene O YOUN f 195 07#8KEY MILESTONES 我们终将改变 潮水的方向 10 2015 Mr. Cong (Kenny) Li founded Onion Global with an objective to search for and create the next generation of fresh and fashionable brands and bring them to the young consumers in China and across Asia NDERT 9/09 09/20 2016 The first shopping festival for global brands in China - "Beauty Carnival", referred to as China's *Black Friday Carnival" and achieved success that was comparable to that of Tmall's Double 11 Festival OVERSEAS BRAND MAP 2017 Global brand manage- ment initiative that integrates branding and marketing. providing brands with highly customized, comprehensive and high growth development solutions 2018 Launched private label products for the first time, to provide growth drivers for high profit- ability in the future 2019 O'Mall, our key opinion consumer ("KOC")-oriented platform, was ranked among the top 5 social eCommerce platforms by GMV generated from cross-border online retail GLOBAL NOINO (2020) 08 Integrated full-value chain services with capabilities to develop, market and distribute brands through a one-stop service platform#9PROMISING AND FORESEEABLE MARKET OPPORTUNITIES Urban young generation has become the dominant consumer force and is reshaping China's consumer culture and consumption patterns with tremendous new opportunities for brands of consumer goods Total spending on lifestyle brands of urban young generation (RMB billion) 2019-2024E CAGR: 14.4% 5,435.8 2019 Lifestyle Source: CIC Report 11.0% 2015 10.8% Lifestyle RMB 3,009.7B 11.3% 18.3% 5,841.8 2.6% 8.5% 2020E 6,869.5 2021E - 37.4% 7,951.0 Lifestyle brands have been the largest and fastest-growing category consumed by the young generation in China by overall consumption value Total spending on consumer goods by the urban young generation, by category, China, 2015/2019/2024E Furniture & home furnishing 2022E 9,212.8 2023E Fresh food 10,633.8 10.1% 2.6% 2019 7.5% 10.4% Lifestyle RMB 5,435.88 10.8% 18.3% 2024E Freer spending Mobile shopper and new media user Growing interests in fast fashion and increased personalization Sophisticated and globally aware -40.4% Consumer appliances & eletronics 9.0% 2.7% 6.6% 2024E 9.2% Lifestyle RMB 10,633.88 10.7% 17.3% Petroleum Pharmaceutical -44.4% ■ Others 09#10UNIQUE MODEL THAT DIFFERENTIATES FROM OTHER MARKET PLAYERS Integrated lifestyle brand e-commerce platform Third-party brand e- commerce service provider BAO ZUN Service Scope Distribution Channel Coverage Brand Coverage Source: CIC Report Incubation Manufacturing Distribution Marketing Logistics Data Analysis Store Operation Self-built Third-party Private Label Third-party ONION GLOBAL Traditional e-commerce platform 天猫国际 THALLHK Offline retailer watsons Traditional brand owner LVMH 10#112 Business Overview & Investment Highlights#12amazon 品快手 OUR HIGH-GROWTH BUSINESS MODEL Lazada (Malaysia) CosyFans KOC app S Shopee Omall (China) O'Mall KOC app Traffic-driving brands Third-party brands ebay 唯品会 Strategic growth brand partners High-growth brands Brand Portfolio TLAB (China) ZIPLAB Trendy Shop 30+ new b High-profit Private label created ev JD every year COM brands TMALL COM O'Life Pharmacy Olife (Japan) 抖音 12#13INVESTMENT HIGHLIGHTS 1. Large and Growing Portfolio of 3F Brands with Great Potential 2. Unique KOC-centric Distribution Model Leading to Superior Customer Reach and Sales 3.Sustainable Growth Empowered by Omni-channel Marketing → of ONION GLOBAL 4. Advanced Big Data Technology Driving Continual Improvement 5. Efficient World-class Supply Chain 13 6. Managed and Driven by Seasoned Entrepreneurs#141. LARGE AND GROWING PORTFOLIO OF 3F BRANDS WITH GREAT POTENTIAL 14 Top 1 private label brand with highest GMV in 6 consecutive months² Provides Greater Momentum Private Label Brands Strategic Partnerships Total Brands 1,782 4,001 2018 2020 Accurate Incubation 13F is the abbreviation for "Fresh, Fashionable and Future" 2. As of December 31, 2020 Third-party Brands Accumu- lation & Analysis Big Data GMV from brand partners' products RMB million 428.8 2018 2.5 CAGR: 74.8% 2018 966.8 2019 GMV from private label brands RMB million CAGR: 351.2% 22.8 1,309.9 2019 2020 50.9 2020 TENKOU RYUUGI RMB 11.2M Achieved by 242 brands within 6 months after joining us² 6M Time (months) Since Joining RMB 1mn+ GMV#152.UNIQUE KOC-CENTRIC DISTRIBUTION MODEL LEADING TO SUPERIOR CUSTOMER REACH AND SALES (1/2) Product-specific contents and tools KOCapps O'Mall CosyFans КОС activities & retention KOC communities Brand Exposure Buyer Traffic Sales Social media platforms Incentives & rewards MIN 5 KOCS ¹000 Number of Active KOCS Total Number of KOCS 310.3 254.0 2018/12/31 Active KOCS ratio in 2020 75% CAGR: +49.3% 492.5 385.2 2019/12/31 Highest GMV contribution from a KOC in 2020 691.4 516.3 2020/12/31 KOC concentration in 2020 RMB 2,198,749 Top 100 KOCS = 2% total GMV 15