Yatsen Results Presentation Deck

Net Income (Loss) Margin Reconciliation of Non-GAAP Net Income (Loss)¹ (RMB MM) Net Income (Loss) YoY Share-based compensation expenses Amortization of intangible assets resulting from assets and business acquisitions Revaluation of investments on the share of equity method investments Tax effects on non-GAAP adjustments Non-GAAP Net Income (Loss) YoY 2Q22 (264) 47 12 (2) (208) 2Q23 (108) -59.0% 48 13 4 (2) (46) -77.7% (%) Net Income (Loss) Margin YoY Reconciliation of Non-GAAP Net Income (Loss) Margin Share-based compensation expenses Amortization of intangible assets resulting from assets and business acquisitions Revaluation of investments on the share of equity method investments Tax effects on non-GAAP adjustments Non-GAAP Net Income (Loss) Margin YoY 2Q22 (27.8%) 4.9% 1.2% (0.2%) (21.8%) YSG 逸仙 2Q23 (12.6%) +15.1 percentage points 5.5% 1.5% 0.5% (0.3%) (5.4%) +16.4 percentage points Note: 1 Non-GAAP net income (loss) is a non-GAAP financial measure. Effective from the third quarter of 2022, non-GAAP net income (loss) is defined as net income (loss) excluding (i) share- based compensation expenses, (ii) amortization of intangible assets resulting from assets and business acquisitions, (iii) revaluation of investments on the share of equity method investments, and (iv) tax effects on non-GAAP adjustments, and non-GAAP net income (loss) for the prior year period presented in this document is also calculated in the same manner. 15

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