Yatsen Results Presentation Deck

Net Income (Loss) Margin Non-GAAP Net Income (Loss)¹ (RMB MM) Net loss Yo Y 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 (loss) income Yo Y 4Q21 (475) 131 10 1 (2) (335) 4Q22 (55) -88.4% 77 13 2 (2) 35 FY2021 (1,547) 530 42 1 (7) (981) FY2022 (821) -46.9% 341 49 (13) (8) (453) -53.8% Non-GAAP Net Income (Loss) Margin % to Net Revenues Net 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 (loss) income YoY 4Q21 -31.1% 8.6% 0.6% 0.1% -0.1% -21.9% 4Q22 -5.5% +25.6 percentage points 7.6% 1.3% 0.2% -0.2% 3.4% +25.4 percentage points FY2021 -26.5% 9.1% 0.7% 0.0% -0.1% -16.8% YSG 逸仙 FY2022 -22.2% +4.3 percentage points 9.2% 1.3% -0.3% -0.2% -12.2% +4.6 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. 17

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