Yatsen Filed 2020 Annual Report on Form 20-F

GUANGZHOU,China,April 21,2021 -- Yatsen Holding Limited ("Yatsen" or the "Company") (NYSE: YSG),a leader in the rapidly evolving China beauty market,today announced that the Company has filed its annual report on Form 20-F for the fiscal year ended December 31,2020 with the U.S. Securities and Exchange Commission ("SEC") on April 21,2021.

The annual report is available on the Company's investor relations website at ir.yatsenglobal.comand on the SEC's website at https://www.sec.gov/. The Company will provide hard copies of the annual report,free of charge,to its shareholders and ADS holders upon written request. Requests should be directed to Investor Relations Department,Yatsen Holding Limited,38F,Poly Midtown Plaza,No.23 East Xuanyue Street,Haizhu District,Guangzhou 510330,Guangdong Province,People's Republic of China.

About Yatsen Holding Limited

Yatsen Holding Limited (NYSE: YSG) is a leader in the rapidly evolvingChinabeauty market with the mission of creating an exciting new journey of beauty discovery for consumers inChinaand around the world. Founded in 2016,The Company has launched and acquired seven color cosmetics and skincare brands including Perfect Diary,Little Ondine,Abby's Choice,Galénic,DR.WU (its mainland China business),Eve Lom and Pink Bear. The Company's flagship brand,Perfect Diary,became the top color cosmetics brand in China in terms of online retail sales value three years after launch. Leveraging its digitally native direct-to-customer business model,the Company has built a platform with core capabilities which enables it to launch and scale multiple brands quickly while offering a wide selection of products to a growing variety of customers. The Company reaches and engages with customers directly both online and offline,with expansive presence across all major e-commerce,social and content platforms inChina.

For more information,please visithttp://ir.yatsenglobal.com/.

For investor and media inquiries,please contact:

InChina:

Yatsen Holding Limited

Investor Relations

E-mail:ir@yatsenglobal.com

The Piacente Group,Inc.

Emilie Wu

Tel: +86-21-6039-8363

E-mail:yatsen@thepiacentegroup.com

Inthe United States:

The Piacente Group,Inc.

Brandi Piacente

Tel: +1-212-481-2050

E-mail:yatsen@thepiacentegroup.com

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