Yatsen Results Presentation Deck

Industry Recovery on the Way 6.7% 7.0% -3.5% -6.3% Jan and Feb-22 -11.1% Mar-22 -6.7% -22.3% Apr-22 8.1% 3.1% -11.0% May-22 2.7% Jun-22 China Consumer Retail Sales YOY Growth² 5.4% 0.7% Jul-22 2.5% -6.4% Aug-22 3.9% 0.5% -3.1% -3.7% mimp Sep-22 8.2% Oct-22 -1.8% Nov-22 -19.3% Dec-22 10.6% 3.8% 3.5% China Beauty¹ Retail Sales YOY Growth² 9.6% Jan and Feb-23 Mar-23 YSG1L Both China consumer retail sales and beauty products retail sales increased year-over-year Consumer sentiment improved Offline consumption recovered gradually following the lifting of pandemic restrictions Notes: 1 Beauty products include color cosmetics and skincare products. 2 Based on the adjusted data published by China National Bureau of Statistics ("CNBS"); CNBS combined January and February data due to their reporting conventions. 5

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