NetEase : Q1 2021 Investor Presentation

1Q 2021

Investor Presentation

1

SAFE HARBOR STATEMENT

This presentation contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. In addition, statements that are not historical facts, including statements about NetEase's strategies and business plans, its expectations regarding the growth of its business and its revenue and the quotations from management in this announcement are or contain forward-looking statements. NetEase may also make forward- looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in announcements made on the website of The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange"), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. The accuracy of these statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including risks related to: the risk that the online game market will not continue to grow or that NetEase will not be able to maintain its position in that market in China or globally; the risk that COVID-19 or other health risks in China or globally could adversely affect the Company's operations or financial results; risks associated with NetEase's business and operating strategies and its ability to implement such strategies; NetEase's ability to develop and manage its operations and business; competition for, among other things, capital, technology and skilled personnel; potential changes in government regulation that could adversely affect the industry and geographical markets in which NetEase operates; the risk that NetEase may not be able to continuously develop new and creative online services or that NetEase will not be able to set, or follow in a timely manner, trends in the market; competition in NetEase's existing and potential markets; and the risk that fluctuations in the value of the Renminbi with respect to other currencies could adversely affect NetEase's business and financial results. Further information regarding these and other risks is included in NetEase's filings with the SEC and announcements on the website of the Hong Kong Stock Exchange. NetEase does not undertake any obligation to update this forward- looking information, except as required under the applicable law.

2

COMPANY OVERVIEW

Founded in 1997, NetEase, Inc. is a leading China-based internet technology company that develops and operates some of China's most popular online PC and mobile games, and offers other innovative services, including online education, music streaming and a private label e-commerce platform.

NetEase, Inc. has been listed on NASDAQ since 2000 under the symbol (NASDAQ: NTES) and completed

its dual listing on the Hong Kong Stock Exchange in June 2020 under the ticker (HK: 9999).

Its majority-owned education business, Youdao, has been listed on NYSE since October 2019 (NYSE: DAO).

As of March 31, 2021, NetEase had over 28,000 employees.

3

MARKET SNAPSHOT

In USD

$70.4 billion

Market Cap 1 (5/17/21)

$3.4	$1.01
billion
Shares Outstanding,	Basic net income per 2
Diluted	ADS (GAAP) (1Q21)
(1Q21)

$3.1	$678	$16.2
billion	million	billion
Net Revenue	Net income attributable to	Cash, time deposits
(1Q21)	the Company's shareholders	and short-term investment
	(GAAP) (1Q21)	(3/31/21)

Note:
1 Market Cap is calculated using the closing price on NASDAQ; Our market cap is HK$ 549.9 billion ($ 70.8 billion) based on the closing price on the Hong Kong Stock Exchange.
2 Basic net income per ordinary share equals to US$0.20, or HK$1.55 (FX: 1 US$= 7.77 HKD).	4

BUSINESS OVERVIEW

Online Games

• Leading developer and operator of self-developed PC and mobile games for internet users in China and internationally
• Operator of licensed games from Blizzard Entertainment, Mojang AB (a Microsoft subsidiary) and other leading game developers internationally

Self-	Fantasy Westward	Westward	Onmyoji	Knives
Developed	Journey (Mobile)	Journey (Mobile)	series	Out
Games
	Identity V	Fantasy Westward	Westward Journey	Justice
		Journey
Licensed
Games
	World of Warcraft	Diablo III	Hearthstone	Minecraft
	(Blizzard)	(Blizzard)	(Blizzard)	(Microsoft)

Online Education

• Leading intelligent learning services operated by Youdao, our majority- controlled subsidiary dedicated to developing and using technologies to provide learning content, applications and solutions to users of all ages

Learning

Services	Youdao	China University	NetEase Cloud
	Premium Courses	MOOC	Classroom
Learning
Products
	Youdao Dictionary	Youdao Translation	Youdao Dictionary Pen

Innovative Businesses and Others

• Leading interactive music	• Leading service provider of
streaming service provider	private label e-commerce
in China, aiming to provide	through Yanxuan, targeting
precise, personalized	middle-class consumers in
recommendations,	China with a strong
promote user interaction	emphasis on quality of life
and create a strong social
community	5