ZTO Express Cayman : Presentation - English (7 MB)

4Q 2022 INVESTOR PRESENTATION

March 2023

Safe Harbor Statement and Disclaimer

This presentation contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements include but are not limited to our unaudited results for the fourth quarter of 2022, our management quotes and our financial outlook for 2023.

Our forward-looking statements are not historical facts but instead represent only our belief regarding expected results and events, many of which, by their nature, are inherently uncertain and outside of our control. Our actual results and other circumstances may differ, possibly materially, from the anticipated results and events indicated in these forward-looking statements. Announced results for the fourth quarter of 2022 are preliminary, unaudited and subject to audit adjustment. In addition, we may not meet our financial outlook for 2023 and may be unable to grow our business in the manner planned. We may also modify our strategy for growth. In addition, there are other risks and uncertainties that could cause our actual results to differ from what we currently anticipate, including those relating to the development of the e-commerce industry in China, our reliance on the Alibaba ecosystem, risks associated with our network partners and their employees

and personnel, intense competition which could adversely affect our results of operations and market share, any service disruption of our sorting hubs or the outlets operated by our network partners or our technology system. For additional information on these and other important factors that could adversely affect our business, financial condition, results of operations, and prospects, please see our filings with the U.S. Securities and Exchange Commission.

All information provided in this presentation is as of the date of the presentation. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, after the date of this release, except as required by law.

1

Index

01 COMPANY OVERVIEW	3
Leading Express Delivery Company in China	4
Our Business: Past and Present	5
Our Distinct Network Partner Business Model ("NPM")	6
Our Core Competitive Advantages	7

02 OUR CORE COMPETITIVE ADVANTAGES	11
Significant Market Growth Opportunities	12
Distinct Partner Network Built Upon a "Shared-Success" Philosophy	13
Superior Scale & Reach	14
Best-in-Class Operational Capabilities and Cost Efficiencies Enabled by Technology	16
Experienced Leadership & Sound Execution	19
Consistent Achievements in Strategic Focus	20
Adjacent Expansion Beyond Express Delivery	21
Sustainability Through Continuous ESG Practices	22
03 OUR STRATEGIES	26

04 FINANCIAL OVERVIEW	31
Strong Unit Economics	32
Robust Parcel Volume and Revenue Growth	33
Strong Profitability and Margins	34
Continuous Cost Efficiencies and Productivity Gains	35
Strong Operating Cash Flow Supports Continued Investment in Growth	36
Reconciliation of GAAP to Adjusted / Non-GAAP Measures	37
	2

COMPANY OVERVIEW

01

Leading Express Delivery Company in China

6.6 bn Parcels1 in 4Q22	21.6 % Market Share2	in 4Q22
24.4 bn Parcels1 in 2022	22.1 % Market Share2	in 2022
#1	#1	>99% County-Level Cities
Covered

31,000+	11,000+
Pickup / Delivery		Line-haul
Outlets		Vehicles3

• Top ranking consumer satisfaction among "Tongdas通达"6 since 2014
• #1 market share by parcel volume in China's express delivery industry since 2016

 The most profitable among "Tongdas通达"

~5,900

Direct Network

Partners

80,000+

Last-Mile Posts

98 Sorting Hubs5

458 Automation Lines

Source: Public filings. Data as of 4Q22 unless otherwise indicated

Notes:

1."Parcels"or"Parcel volume" in any given period is defined as the number of parcels picked up using ZTO waybills

1. In terms of parcel volume calculated based on data from State Post Bureau
2. Includes over 11,000 self-owned vehicles with approximately 9,700 high capacity 15-17 meter trailer trucks
3. Line-haulroutes between sorting hubs only
4. Includes 87 self-operated sorting hubs, and 11 sorting hubs operated by our network partners
5. ZTO, YUNDA, YTO and STO are commonly known as Tongdas

3,750+

Line-haul

Routes4

Indicates #1 in Industry

4