Youdao to be Added to MSCI China All Shares Small Cap Index

HANGZHOU,China,Nov. 17,2021 -- Youdao,Inc. ("Youdao" or the "Company") (NYSE: DAO),a leading intelligent learning company in China,announced today that the Company's stock will be added to the MSCI China All Shares Small Cap Index,effective as of market close on November 30,2021.

The MSCI China Small Cap Index is an equity index compiled by MSCI Inc.,a leading provider of research-based indexes and analytics,and is designed to measure the performance of the small-cap segment of the China market. The index has been widely recognized as a benchmark for global institutional investors to optimize their investment portfolios.

The inclusion of Youdao in the MSCI China All Shares Small Cap Index reflects the recognition of the Company's business performance and growth potential by global investors,which will help enhance the Company's visibility and stock liquidity.

About Youdao,Inc.

Youdao,Inc. (NYSE: DAO) is a leading intelligent learning company in China dedicated to developing and using technologies to provide learning content,applications and solutions to users of all ages. Building on the popularity of its online knowledge tools such as Youdao Dictionary and Youdao Translation,Youdao now offers online courses covering a wide spectrum of age groups,subject matters,learning goals and areas of interest. In addition,Youdao has developed a variety of interactive learning apps and smart learning devices. Youdao was founded in 2006 as part of NetEase,Inc. (NASDAQ: NTES; HKEX: 9999),a leading internet technology company in China.

For more information,please visit: http://ir.youdao.com.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts,including statements about the Company's beliefs and expectations,are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties,and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases,forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company may also make written or oral forward-looking statements in its reports filed with,or furnished to,the U.S. Securities and Exchange Commission,in its annual reports to shareholders,in press releases and other written materials and in oral statements made by its officers,directors or employees to third parties. Statements that are not historical facts,are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding such risks,uncertainties or factors is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release,and the Company does not undertake any duty to update such information,except as required under applicable law.

Investor Enquiries:

Li Ruohan

NetEase,Inc.

globalpr@service.netease.com

Tel: (+86) 571-8985-2668

Twitter: https://twitter.com/NetEase_Global

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