Yatsen IPO Presentation Deck

3 Case Studies: Popular Products Delivering High Emotional Value 1 "Perfect Diary Puppy Eyeshadow Palette" with Austin Li • Austin Li, a top beauty KOL with over 34 million fans(1) • Launched the puppy eyeshadow palette together with Austin Li. Collaborating from start to finish - from concept initiation and product design to marketing and promotion • Over 389,000 units sold within 10 minutes, and Austin Li increased influence and attracted more fans • Donation to an animal protection charity fund 3 Perfect Diary Fantasist Eyeshadow Palettes with China National Geography Beautiful landscape published in China National Geography Launched during the 2019 National Day period #城市猎人# Notes: 1. As of September 30, 2020; 2. According to CIC report 2 "Master" Brushes with Chun Nan • Chun Nan, a famous makeup artist • Designed together a brush set to meet the high standards of makeup professionals • Appealing to professional & sophisticated consumers • Positive feedback from artists, KOLS, and consumers 4 Little Ondine "Cheese" Blush with Tom & Jerry • Collaboration with Tom and Jerry IP that was awarded "The Best Summer Flush" by Harper's BAZAAR in 2020 •Over 652,000 units were sold by September 30, 2020, launched in April 2020 (the Year of the Rat) • The top selling product in blush category on Tmall(2) YATSEN asen 大师高定校如天城 OUR STORY 16

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