Hangzhou, China, March 29, 2023 – Alibaba Group Holding Limited (NYSE: BABA and HKEX: 9988, “Alibaba” or “Alibaba Group”) announced a new organizational and governance structure to empower all its businesses to become more agile, enhance decision making, enable faster responses to market changes, and promote innovation to capture opportunities in their respective markets and industries, thereby unlocking the value of Alibaba Group’s various businesses.

The company will hold a conference call on Thursday, March 30, 2023 to discuss this announcement at 8:00 a.m. Hong Kong Time (8 p.m. U.S. Eastern Time on Wednesday, March 29, 2023).

All participants must pre-register to join this conference call using the Participant Registration link below:

English: https://s1.c-conf.com/diamondpass/10029909-0al59h.html

Chinese: https://s1.c-conf.com/diamondpass/10029912-yr7usg.html

Upon registration, each participant will receive details for the conference call, including dial-in numbers, conference call passcode and a unique access PIN.  To join the conference, please dial the number provided, enter the passcode followed by your PIN, and you will join the conference.

A live webcast of the conference call can be accessed at https://edge.media-server.com/mmc/p/5zgomao7.  A replay of the conference call will be available for one week from the date of the conference (Dial-in number: +1 855 883 1031; English conference PIN 10029909; Chinese conference PIN 10029912).

About Alibaba Group

Alibaba Group’s mission is to make it easy to do business anywhere.  The company aims to build the future infrastructure of commerce.  It envisions that its customers will meet, work and live at Alibaba, and that it will be a good company that lasts for 102 years.

Safe Harbor Statements

This announcement contains forward-looking statements, including statements describing Alibaba Group’s new organizational and governance structure, strategic benefits of this new structure and potential future financing activities. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “may,” “will,” “expect,” “anticipate,” “future,” “aim,” “estimate,” “intend,” “seek, ” “plan,” “believe,” “potential,” “continue,” “ongoing,” “target,” “guidance,” “is/are likely to” and similar statements. In addition, statements that are not historical facts, including statements about Alibaba Group’s strategies and business plans, Alibaba Group’s beliefs, expectations and guidance regarding the enhanced value of its business, as well as Alibaba Group’s strategic and operational plans, are or contain forward-looking statements. Alibaba Group may also make forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in announcements made on the website of the Hong Kong Stock Exchange Limited, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In particular, the timing and implementation details of Alibaba Group’s new structure, and whether the new structure will yield the expected strategic benefits are subject to uncertainties. All information provided in this announcement is as of the date of this announcement and are based on assumptions that Alibaba Group believes to be reasonable as of this date, and Alibaba Group does not undertake any obligation to update any forward-looking statement, except as required under applicable law.