ZTO Express Financial Overview

Our Distinct Network Partner Business Model ("NPM") Payment to Pickup Network Partner ° • Full express service fee Network Partners Last-Mile Post and Lockbox M Senders Payment to ZTO Express Line-haul transit fee • ⚫ Waybill fee • Last-mile delivery fee Payment to Delivery Network Partner • Last-mile delivery fee Z 中通快递 ZTO EXPRESS Z 中通快递 ZTO EXPRESS Fund flow Parcel flow Fee in blue ZTO revenues Network Partners Last-Mile Post and Lockbox 00 Pickup Outlets Sorting Hubs 00 Line-haul Transportation Sorting Hubs Delivery Outlets Core Express Delivery Network First-Mile Pickup Key Advantages of a Network Partner Model ("NPM") i-i Recipients Last-Mile Delivery NPM Gaining Share in Express Delivery Market (Market share by parcel volume) Network Scalability Rapid geographic coverage expansion Flexibility ✓ Localized decision-making 34% Capital Efficiency ✓ Lower costs for first/last-mile buildout Our NPM: "Best of Both Worlds" 24% "Shared-success" philosophy • Build cohesiveness, align interests, share risks, assure rewards Milestone event: converting major network partners into shareholders Centralized proprietary IT Infrastructure and well-integrated peripherals • Technology backbone for effective end-to-end collaboration with network partners "Best of both worlds": NPM organization yet vertically managed through digitalization 76% 66% 2011 ■ Network Partner Model Sources: iResearch, public filings Note: 2022 Direct Model 1 1. Include SF, EMS, China Post, JD, and other express delivery companies that use direct model. Some express delivery companies' market share based on assumptions 6 CO !!!!!!!!

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