Investor Presentaiton

Maintained Discipline in Managing Operating Expenses Operating Expenses RMB Billions 11.9 11.1 10.2 0.2 1.2 10.2 ---- 0.2 9.4 0.2 0.8 0.2 1.1 F0.1 1.4 1.7 10.4 9.2 9.1 8.6 8.0 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Operating expenses (excluding expenses related to smart EV and other new initiatives) Expenses related to smart EV and other new initiatives excluding share-based compensation (SBC) expenses SBC expenses related to smart EV and other new initiatives וח 21

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