Earnings and Performance Overview

Cloud - Alibaba Cloud DingTalk Segment Revenue Revenue from our Cloud segment, after inter-segment elimination, was RMB18,582 million (US$2,706 million) in the quarter ended March 31, 2023, a decline of 2% compared to RMB18,971 million in the same quarter of 2022. Total revenue from our Cloud business, before inter-segment elimination, which includes revenue from services provided to other Alibaba businesses, was RMB24,559 million (US$3,576 million), decrease of 3% compared to RMB25,230 million in the same quarter of 2022. Segment adjusted EBITA Cloud adjusted EBITA was RMB385 million (US$56 million) in the quarter ended March 31, 2023, compared to RMB276 million in the same quarter of 2022. Business Highlight Alibaba Generative Al: In April, Alibaba Cloud unveiled its latest large language model (LLM), Tongyi Qianwen (†). We plan to integrate new LLM into all business applications across Alibaba's ecosystem in the near future to further enhance user experience. Product Pricing: Recently, Alibaba Cloud has endorsed multiple actions to make computing more accessible and affordable. We announced a new instance family that provides the same level of stability and offers up to 40% cost savings. For existing products, we reduced the prices of some of our core utility products, including computing, storage, networking and security products, by up to 50%. DingTalk: During the 2023 DingTalk Spring Summit on April 18, 2023, DingTalk unveiled the integration of intelligent capabilities based on Alibaba's Tongyi Qianwen LLM into its product. Users can activate multiple Al capabilities by typing the slash symbol (/), including article creation, meeting notes summary, image generation, DingTalk mini-app building, and robot training. As a PaaS platform, DingTalk will further help customers and ecosystem partners to unlock the potential of Al capabilities. Three months ended March 31, Year ended March 31, (in RMB Mn, except percentages) 2022 2023 YoY % 2022 2023 YoY % Revenue 18,971 18,582 (2)% Adj. EBITA 276 385 39% 74,568 1,146 77,203 4% 1,422 24% Adj. EBITA Margin 1% 2% 2% 2% 12 12

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