Yatsen Filed 2021 Annual Report on Form 20-F

GUANGZHOU,China,April 23,2022 --Yatsen Holding Limited ("Yatsen" or the "Company") (NYSE: YSG),a leading Chinese beauty company,today announced that the Company has filed its annual report on Form 20-F for the fiscal year ended December 31,2021 with the U.S. Securities and Exchange Commission ("SEC") on April 22,2022.

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,Building No. 35,Art Port International Creation Center,No. 2519 Xingang East Road,Haizhu District,Guangzhou 510330,People's Republic of China.

About Yatsen Holding Limited

Yatsen Holding Limited (NYSE: YSG) is a leading player in China's beauty market with a mission to create an exciting new journey of beauty discovery for consumers in China and around the world. Founded in 2016,the Company has launched and acquired multiple 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,is one of the top color cosmetics brands in China in terms of online retail sales value. Leveraging its digitally native direct-to-customer business model,the Company has built core capabilities which enable 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 in China.

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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