Alibaba : VOLUNTARY ANNOUNCEMENT

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange") take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

We have one class of shares, and each holder of our shares is entitled to one vote per share. As the Alibaba Partnership's director nomination rights are categorized as a weighted voting rights structure (the "WVR structure") under the Rules Governing the Listing of Securities on the Hong Kong Stock Exchange, we are deemed as a company with a WVR structure. Shareholders and prospective investors should be aware of the potential risks of investing in a company with a WVR structure. Our American depositary shares, each representing eight of our shares, are listed on the New York Stock Exchange in the United States under the symbol BABA.

Alibaba Group Holding Limited

阿 里 巴 巴 集 團 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 9988)

VOLUNTARY ANNOUNCEMENT

Ant Group Co., Ltd. (螞蟻科技集團股份有限公司) ("Ant Group" formerly known as Ant Small and Micro Financial Services Group Co., Ltd. (浙江螞蟻小微金融服務集團股份有限 公司)), an unconsolidated related party in which Alibaba Group Holding Limited ("Alibaba Group") holds a 33% equity interest, publicly filed its listing application on August 25, 2020 with the Shanghai Stock Exchange and the Hong Kong Stock Exchange in connection with its previously announced plan for a concurrent listing and initial public offering in Shanghai and Hong Kong. We understand that the timing of any such listing and offering will be contingent upon market conditions and other factors, and there can be no assurance as to when such listing and offering will be completed.

The above announcement does not constitute an offer of securities for sale in the United States or an invitation or solicitation of an offer to acquire, purchase or subscribe for securities in Mainland China or Hong Kong S.A.R., and any securities described herein may not be offered or sold in the United States absent registration or an exemption from registration; any public offering of securities to be made in the United States, Mainland China or Hong Kong S.A.R. would be made by means of a prospectus that is registered and may be obtained from Ant Group, which would contain detailed information about Ant Group and its management, as well as financial statements.

By order of the Board

Alibaba Group Holding Limited

Timothy A. STEINERT

Secretary

Hong Kong, August 25, 2020

As at the date of this announcement, our board of directors is comprised of Mr. Daniel Yong ZHANG as the chairman, Mr. Jack Yun MA, Mr. Joseph C. TSAI, Mr. J. Michael EVANS and Mr. Eric Xiandong JING as directors, and Mr. Chee Hwa TUNG, Mr. Walter Teh Ming KWAUK, Mr. Jerry YANG, Mr. E. Börje EKHOLM and Ms. Wan Ling MARTELLO as independent directors.