Yatsen Results Presentation Deck

Net Loss and Net Loss Margins Non-GAAP Net Loss¹ (RMB MM) GAAP Net Loss² (234) ■1Q2021 (319) (336) ■4Q2021 (475) (156) 1Q2022 (291) GAAP Net Loss Margin Non-GAAP Net Loss Margin (16.2%) ■1Q2021 (22.1%) (22.0%) ■4Q2021 (31.1%) (17.5%) 1Q2022 (32.7%) Note: ¹ Non-GAAP Net Loss is a non-GAAP financial measure, which is defined as net loss excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from assets and business acquisitions and (iii) tax effects on non-GAAP adjustments 2 GAAP Net Loss includes share-based compensation and amortization of intangible assets 14

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