Yatsen Results Presentation Deck

Revenue and Gross Margin (RMB MM) 891 1Q2022 Net Revenues -14.1% YoY 765 1Q2023 Slow-down in Color Cosmetics Brands¹ partially offset by growth in Skincare Brands² +5.3 percentage points YoY 69.0% Gross Margin 1Q2022 74.3% Notes: ¹ Include net revenues from Perfect Diary, Little Ondine, Pink Bear and other color cosmetic brands of the Company. 2 Include net revenues from DR. WU (its mainland China business), Galénic, Eve Lom, Abby's Choice and other skincare brands of the Company. 1Q2023 YSG1LL Higher revenue contribution from Skincare Brands², more disciplined pricing and discount policies and cost optimization 12

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