Earnings and Performance Overview

GAAP to Non-GAAP Net Income Attributable to Ordinary Shareholders Alibaba Three months ended March 31, 2022 Year ended March 31, 2023 2022 2023 (in Mn, except per share data) Net (loss) income attributable to ordinary shareholders - basic RMB RMB USD RMB RMB USD (16,241) 23,516 3,424 61,959 72,509 10,558 Dilution effect on earnings arising from share-based awards operated by equity method investees and subsidiaries (8) (29) (4) (37) (38) (5) Net (loss) income attributable to ordinary shareholders - diluted (16,249) 23,487 3,420 61,922 72,471 10,553 (1) Non-GAAP adjustments to net income attributable to ordinary shareholders Non-GAAP net income attributable to ordinary shareholders for 37,703 4,469 651 81,593 71,520 10,414 21,454 27,956 4,071 143,515 143,991 20,967 computing non-GAAP diluted earnings per share/ADS Weighted average number of shares on a diluted basis for computing non-GAAP diluted earnings per share/ADS (million shares) 21,599 20,882 21,787 21,114 (4) Diluted (loss) earnings per share (2)(4) Non-GAAP diluted earnings per share (3)(4) Diluted (loss) earnings per ADS (2)(4) Non-GAAP diluted earnings per ADS (3)(4) (0.76) 1.12 0.16 2.84 3.43 0.50 0.99 1.34 0.20 6.59 6.82 0.99 (6.07) 9.00 1.31 22.74 27.46 4.00 7.95 10.71 1.56 52.69 54.56 7.94 See the section entitled "GAAP to Non-GAAP Measures Reconciliation" for the reconciliation of net income to non-GAAP net income for more information of these non-GAAP adjustments. Diluted (loss) earnings per share is derived from dividing net (loss) income attributable to ordinary shareholders by the weighted average number of shares on a diluted basis. Diluted (loss) earnings per ADS is derived from the diluted (loss) earnings per share after adjusting for the ordinary share-to-ADS ratio. Non-GAAP diluted earnings per share is derived from dividing non-GAAP net income attributable to ordinary shareholders by weighted average number of shares for computing non-GAAP diluted earnings per share on a diluted basis. Non-GAAP diluted earnings per ADS is derived from the non-GAAP diluted earnings per share after adjusting for the ordinary share-to-ADS ratio. Each ADS represents eight ordinary shares. Notes: (1) (2) (3) (4) 17 17

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