Vipshop Holdings Investor Presentation — March 2020

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Vipshop Holdings Limited

Investor Presentation

March 2020 Disclaimer

This presentation contains forward -looking statements . 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 “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and

similar statements . Among other things, the business outlook and quotations from management in this announcement,

as well as Vipshop’s strategic and operational plans, contain forward -looking statements . Vipshop may also make

written or oral forward -looking statements in its periodic reports to the U.S. Securities and Exchange Commission

(“SEC”), in its annual report 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, including

statements about Vipshop’s beliefs and expectations, are forward -looking statements . 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, including but not limited to the following : Vipshop’s goals and strategies ;

Vipshop’s future business development, results of operations and financial condition ; the expected growth of the

online discount retail market in China ; Vipshop’s ability to attract customers and brand partners and further enhance

its brand recognition ; Vipshop’s expectations regarding demand for and market acceptance of flash sales products

and services ; competition in the discount retail industry ; fluctuations in general economic and business conditions in

China and assumptions underlying or related to any of the foregoing . Further information regarding these and other

risks is included in Vipshop’s registration statement on Form F-1, as amended, filed with the SEC. All information

provided in this presentation is as of the date of this presentation, and Vipshop does not undertake any obligation to

update any forward -looking statement, except as required under applicable law.

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