June Quarter 2015 Results

August 12, 2015

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,” “potential,” “continue,” “ongoing,” “targets” and

similar statements. Among other things, statements that are not historical facts, including statements about Alibaba’s beliefs and

expectations, the business outlook and quotations from management in this presentation, as well as Alibaba’s strategic and

operational plans, are or contain forward-looking statements. Alibaba may also make written or oral forward-looking statements in

its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), 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, including but not limited to the following: Alibaba’s goals and strategies; Alibaba’s future business development;

Alibaba’s ability to maintain the trusted status of its ecosystem, reputation and brand; Alibaba’s ability to retain or increase

engagement of buyers, sellers and other participants in its ecosystem and enable new offerings; Alibaba’s ability to successfully

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engagement of buyers, sellers and other participants in its ecosystem and enable new offerings; Alibaba’s ability to successfully

monetize traffic on its mobile platform; risks associated with limitation or restriction of services provided by Alipay; risks associated

with increased investments in Alibaba’s business; risks associated with acquisitions; privacy and regulatory concerns; competition;

security breaches; the continued growth of the e-commerce market in China and globally; and fluctuations in general economic

and business conditions in China and globally and assumptions underlying or related to any of the foregoing. Further information

regarding these and other risks is included in Alibaba’s filings with the SEC. All information provided in this presentation is as of the

date of this presentation and are based on assumptions that we believe to be reasonable as of this date, and Alibaba does not

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

This presentation contains certain financial measures that are not recognized under generally accepted accounting principles in the

United States (“GAAP”), including Non-GAAP EBITDA, Non-GAAP net income and free cash flow. For a reconciliation of these non-

GAAP financial measures to the most directly comparable GAAP measures, see GAAP to Non-GAAP Reconciliation.

June Quarter 2015 Business Highlights & Strategic Updates& Strategic Updates

3

Strategic Updates

• Recent M&A

• Mobile Monetization

• Logistics

• Cloud Computing

• International Operations

4

• International Operations

• Mobile Internet Services

• Local Services

• Customer Experience

Strategic Investment in Suning

Builds on Synergies in Ecommerce, Logistics & Builds on Synergies in Ecommerce, Logistics &

OmniOmni--channel Initiativeschannel Initiatives

Nationwide Logistics

Network

Exploring

Omni-channel

Opportunities

Flagship

Store on

Tmall.com

5

Expanding

Nationwide

Logistics

Network

• 1,600+ physical stores in 289

cities across China

• 3,000+ after-sales service

locations

• 5,000+ affiliate serving partners

in 320 cities across China

• 8 national distribution centers

• 57 regional distribution centers

• 353 city forwarding centers

• +1,700 last-mile delivery

stations

Frequency of UseFrequency of Use

Unrivaled Mobile Leadership

Big DataBig DataMobile Store Mobile Store Management Management

Local ClimateConsumer Behavior

Targeted ResultsUS$ 60Bn

6

125% YoYMobile GMV Growth

Note: Unless otherwise indicated, all figures above are for the three months ended June 30, 2015.(1) Assumes 1 US$ = 6.200 RMB.

Location

Personalization

ResultsUS$ 60BnMobile GMV (1)

Quarterly Penetration of Mobile Revenue and Mobile GMV (China Commerce Retail)

Mobile Revenue Follows Mobile GMV

27%

33%

36%

42%

51%

55%

29% 30%

40%

51%

2.50%

3.00%

3.50%

4.00% (% of

Monetization

rate)

(% of Revenue)

7

For 3M

ended

12%

15%

20%

3% 4%

7%12%

19%

0.58% 0.61%

1.12% 0.98%

1.49%

1.87% 1.96%

1.73%

2.16%

0.50%

1.00%

1.50%

2.00%

Jun 30,

2013

Sep 30,

2013

Dec 31,

2013

Mar 31,

2014

Jun 30,

2014

Sep 30,

2014

Dec 31,

2014

Mar 31,

2015

Jun 30,

2015

Mobile GMV as a % of Total GMV Mobile Revenue as a % of China Commerce Retail Revenue Mobile Monetization Rate

Delivery Network with Unrivaled ScaleDelivery Network with Unrivaled Scale

Largest Logistics Service Ecosystem

100,000+

Delivery Stations

25,000+ 95%

8

25,000+

Pick-up Stations

500,000+

Villages

95%of all

counties

Strategic Logistics Partners

Service Quality

Largest Logistics Service Ecosystem

Home Appliances

& Customer Satisfaction

9

Next-day

Delivery

Same-day

Grocery Delivery

Home Appliances White Goods

Cross-border Domestic

Last-mile

China’s Leading Cloud Computing Service Provider

Most Comprehensive Service Offering in ChinaMost Comprehensive Service Offering in China

ODPS DPCADS CDP

Large Scale ComputingECS SLBESS VPC

Elastic Computing

Trusted Cloud Partner for MissionTrusted Cloud Partner for Mission--Critical WorkloadsCritical Workloads

ONS SLS Open Search ACEPTS

Application Services

Storage & Content Delivery

Network

OSSCDN OAS

RDS OCS

DRDS

OTS

Database Services

CMS

Security & Management

Yundun

10

China’s Leading Cloud Computing Service Provider

Internet CompaniesDiversified

growing

customer base

Across public

Enterprises

11

Transportation

Across public

& private

industries

Financial Services

International: Cross Border Business

367M active buyers

• Largest Chinese consumer audience

• Data analytics to enable brands to directly engage customers

• End-to-end logistical service offering

12

Country Pavilions:

New Zealand

South Korea

Spain

United States

FranceAustralia

TurkeySwitzerland

Malaysia

ThailandSingapore

British

No. 1 Mobile BrowserNo. 1 Mobile Browser(1)(1)

Leading Mobile Browser in Developing Markets

China

India

Indonesia

Mobile EcosystemMobile Ecosystem

• Mobile Search

• Apps Distribution

• Game Communities

13(1) No. 1 mobile browser in China according to iResearch, and the most popular third-party mobile browser in India and Indonesia according to StatCounter(2) Global basis for the month ended Jun 30, 2015.

330+MMMAUs(2)

Indonesia

Fast food Restaurants

Foray into the Huge Local Services Market with Strategic JV

307MMMobile MAUs (1)

~400MMAlipay Active Users (2)

14

Groceries

CafeTakeout

Projected O2O penetration of local services market in China: > RMB 300bn in GMV in 2015 (3)

(1) For the month ended June 30, 2015; based on the aggregate mobile MAUs of apps that contribute GMV on our China retail marketplaces.(2) Annual active users for the twelve months ended June 30, 2015; 80% are mobile users.(3) Source: iResearch Report.

Convenient

store &

Supermarket

183176

293

219

246529

430

501

556

787

600

673

Quarterly GMV (China Commerce Retail)

GMV

(RMB Bn)

53% 46%YoY

Growth 65% 64% 45% 34%40%49%49%

257 275346

295342

380

494

381427

8899

183

135

159

176

345374

430

Jun 30,

2013

Sep 30,

2013

Dec 31,

2013

Mar 31,

2014

Jun 30,

2014

Sep 30,

2014

Dec 31,

2014

Mar 31,

2015

Jun 30,

2015

Taobao Marketplace Tmall

15

For 3M

ended

Active Buyers & Mobile MAUs

279307

334350

367

(In Millions)

Annual Active Buyers Mobile MAUs

217

265289

307

(In Millions)

FY2013 FY2014 FY2015

Orders per Active Buyer 42 50 58

Active Buyers 172MM 255MM 350MM

279

Jun 30,

2014

Sep 30,

2014

Dec 31,

2014

Mar 31,

2015

Jun 30,

2015

For 12M

ended

188

217

Jun 30,

2014

Sep 30,

2014

Dec 31,

2014

Mar 31,

2015

Jun 30,

2015For 1M

ended

16

Mobile GMV & Revenue Contribution

20%

27%

33% 36%

42%

51% 55%

19%

29% 30%

40%

51%

(RMB Bn)

Quarterly Mobile GMV, Mobile Revenue and Mobile Penetration (China Commerce Retail)

(%)

17

41 55104 118

164199

327 304371

12% 15%

20%

3% 4%7%

12%

19%

Jun 30,

2013

Sep 30,

2013

Dec 31,

2013

Mar 31,

2014

Jun 30,

2014

Sep 30,

2014

Dec 31,

2014

Mar 31,

2015

Jun 30,

2015

Mobile GMV

Mobile GMV as a % of Total GMV

Mobile Revenue as a % of China Commerce Retail Revenue

For 3M

ended

June Quarter 2015 Financial Review

18

34%YoY GMV

Growth

June Quarter 2015 Highlights

367MMAnnual

Active Buyers (2)

28%YoY Revenue

Growth

US$1.54BnFree Cash Flow (1)

19

307MMMobile MAUs (3)

US$ 60BnMobile GMV (1)

55% of China Commerce Retail

GMV

Note: Unless otherwise indicated, all figures above are for the three months ended June 30, 2015.(1) Assumes 1 US$ = 6.200 RMB.(2) For the twelve months ended June 30, 2015.(3) For the month ended June 30, 2015; based on the aggregate mobile MAUs of apps that contribute GMV on our China retail marketplaces.

51%Mobile Revenue as

a % of China

Commerce Retail

Revenue

June Quarter 2015 Financial Highlights GMV and Mobile Penetration

+34%

(RMB Bn)

15.820.2

Jun 30, 2014 Jun 30, 2015

+28%

Revenue

(RMB Bn)(%)

501 673

33%

55%

Jun 30, 2014 Jun 30, 2015

GMV Mobile GMV as % of Total GMV

20

Non-GAAP EBITDA (1) and Margin(RMB Bn)

7.3 9.5

Jun 30, 2014 Jun 30, 2015

Non-GAAP Net Income (2) and Margin

(RMB Bn)

Margin 46% 47%

Note: For the three months ended on the respective dates. (1) Non-GAAP EBITDA represents income from operations (which excludes interest and investment income, net, interest expense, other income, net, income tax

expenses and share of results of equity investees) before certain non-cash expenses, consisting of share-based compensation expense, amortization and depreciation that we do not believe are reflective of its core operating performance during the periods presented.

(2) Non-GAAP net income represents net income before share-based compensation expense, amortization, impairment of goodwill, intangible assets and investments, gain on deemed disposals/disposals/revaluation of investments and amortization of excess value receivable arising from the restructuring of commercial arrangements with Ant Financial.

8.6 10.6

Jun 30,2014 Jun 30, 2015

Margin 54% 52%

2.77%

3.53%

3.03% 3.23%

Quarterly Monetization Rate Trends

Quarterly Monetization Rate (China Commerce Retail)

(%)

Non-mobile

monetization

We manage the business for growth in GMV and active buyers, not for monetization rate

• Mobile monetization rate increased significantly to 2.16%

• Blended monetization rate

• Decreased Y/Y due to: 1) the higher % of total GMV contributed by mobile GMV, which has a lower monetization rate compared to the non-mobile monetization rate, and 2) a decrease in non-mobile monetization rate, partially offset by the Y/Y increase in mobile monetization rate

• Reflected the negative impact of 1) the decrease in commission revenue as a result of the suspension of the online lottery business in late Feb 2015, and 2) the decrease in the pricing charged on Juhuasuan

0.58% 0.61%

1.12% 0.98%

1.49%

1.87% 1.96% 1.73%

2.16%

2.77% 2.61% 2.63%

3.03%

2.54% 2.63% 2.55%

2.51%2.31%

3.05%

2.18%

2.52% 2.30%

2.70%

2.17%

2.33%

Jun 30,

2013

Sep 30,

2013

Dec 31,

2013

Mar 31,

2014

Jun 30,

2014

Sep 30,

2014

Dec 31,

2014

Mar 31,

2015

Jun 30,

2015

Mobile Monetization Rate Non-mobile Monetization Rate Blended Monetization Rate

21

Notes:

(1) Derived from China commerce retail non-mobile revenue / non-mobile GMV.

(2) Derived from China commerce retail mobile revenue / mobile GMV.

Mobile

monetization

rate(2)

monetization

rate(1)

Blended

monetization

rate

For 3M

ended

Quarterly Revenue

The lower YoY revenue growth was mainly a result of:

1. suspension of online lottery business in late February 2015

2. a reduction of revenue from the SME loan business because we transferred the business to

Ant Financial in Feb 2015

3. merchant acquisition through reduction in the pricing charged on Juhuasuan

Total Revenue

26.2

20.2+28%

Revenue Growth

(RMB Bn)

+36%

Reported Revenue

Revenue excl. the effect of

the online lottery business

and the SME loan business

(RMB Bn)

15.8 16.8 17.420.2

Jun 30,

2014

Sep 30,

2014

Dec 31,

2014

Mar 31,

2015

Jun 30,

2015

15.820.2

14.7

20.0

Jun 30,

2014

Jun 30,

2015

Jun 30,

2014

Jun 30,

2015

Note: For the three months ended on the respective dates. 22

Impact from Online Lottery Sales Suspension

Reported Revenue

Revenue excl. the

effect of the online

lottery business

+24% +29%

China Commerce Retail RevenueGMV

Reported GMV

GMV excl. the

effect of the online

lottery business

+34% +36%

(RMB Bn) (RMB Bn)

Reported

Commission Revenue

+26% +42%

Commission Revenue

(RMB Bn)

Commission Revenue

excl. the effect of the

online lottery business

501

673

494

673

Jun 30,

2014

Jun 30,

2015

Jun 30,

2014

Jun 30,

2015

23

12.615.7

12.115.7

Jun 30,

2014

Jun 30,

2015

Jun 30,

2014

Jun 30,

2015

Note: For the three months ended on the respective dates.

4.05.1

3.65.1

Jun 30,

2014

Jun 30,

2015

Jun 30,

2014

Jun 30,

2015

78%

5%3%

6%2% 6%

24%

41% 40%

12%

106%

82%

Quarterly Revenue Breakdown

Revenue Breakdown by Businesses

(% of Total Revenue)

Others

Revenue Growth of Major Businesses(YoY growth % )

Cloud Computing

and Internet

InfrastructureInternational

Commerce Wholesale

International

Commerce Retail

China Commerce

Wholesale

(1)

78%

24

For three months ended Jun 30, 2015

(1) Other revenue mainly represents the mobile Internet services

revenue generated from UCWeb and AutoNavi.

1 2 3 4 5

1. China Commerce Retail

2. China Commerce Wholesale

3. International Commerce Retail

4. International Commerce Wholesale

5. Cloud Computing and Internet Infrastructure

6. Others

China Commerce Retail

Wholesale

6

Quarterly Margin Trends

Non-GAAP Net Income(2) and MarginNon-GAAP EBITDA(1) and Margin (RMB Bn) (RMB Bn)

• We don’t manage to a margin target

• Lower Y/Y non-GAAP EBITDA margin was due to:

• Consolidation of acquired businesses (mainly UCWeb, AutoNavi) with lower margins

• Investment in new business initiatives such as over-the-top TV services and local services

• Will continue to invest in new and existing businesses to drive long-term growth in GMV, new active buyers, revenue and profit

52%54% 47%46%Margin Margin49% 44%

7.3 7.7 9.5

Jun 30, 2014 Mar 31, 2015 Jun 30, 2015

8.6 8.6 10.6

Jun 30, 2014 Mar 31, 2015 Jun 30, 2015

25

Note: For the three months ended on the respective dates. (1) Non-GAAP EBITDA represents income from operations (which excludes interest and investment income, net, interest expense, other income, net,

income tax expenses and share of results of equity investees) before certain non-cash expenses, consisting of share-based compensation expense, amortization and depreciation that Alibaba Group does not believe are reflective of its core operating performance during the periods presented.

(2) Non-GAAP net income represents net income before share-based compensation expense, amortization of intangible assets, impairment of goodwill, intangible assets and investments, gain on deemed disposals/disposals/revaluation of investments, amortization of excess value receivable arising from the restructuring of commercial arrangements with Ant Financial.

Quarterly Cost Trends

Cost of Revenue (Pre-SBC) Product Development Expenses (Pre-SBC)

1.7 1.4 2.0

Jun 30, 2014 Mar 31, 2015 Jun 30, 2015

(RMB Bn) (RMB Bn)

4.0 5.1 5.7

Jun 30, 2014 Mar 31, 2015 Jun 30, 2015

28%25%% of

Revenue29% 10%11%

% of

Revneue8%

0.8 1.1 1.0

Jun 30, 2014 Mar 31, 2015 Jun 30, 2015

26

Jun 30, 2014 Mar 31, 2015 Jun 30, 2015

Sales & Marketing Expenses (Pre-SBC)

1.2 1.9 1.7

Jun 30, 2014 Mar 31, 2015 Jun 30, 2015

General & Administrative Expenses (Pre-SBC)(RMB Bn) (RMB Bn)

Jun 30, 2014 Mar 31, 2015 Jun 30, 2015

Note: For the three months ended on the respective dates

9%7%% of

Revenue11% 5%5%

% of

Revenue6%

1.8

Free Cash Flow, Capital Expenditures and Cash

Capital Expenditures

(RMB Bn)

130.7 122.3

115.3 23.7

14.1 11.2

Cash, Cash Equivalents and

Short-term Investments

(RMB Bn)

10.6

Free Cash Flow (1)

(RMB Bn)

47%67%% of

Revenue 33% 6%7%

Non-real

Estate

CAPEX as

a % of

Revenue

4%

1.2 0.7

1.1

0.1 0.8

0.7 1.3 1.5

Jun 30, 2014 Mar 31, 2015 Jun 30, 2015

Non-real Estate CAPEX

Acquisitions of Land Use Rights and

Construction in Progress

27

107.0 108.2 104.1

As of Dec 31,

2014

As of Mar 31,

2015

As of Jun 30,

2015

Cash and Cash Equivalents

Short-term Investments

10.6

5.7

9.5

Jun 30, 2014 Mar 31, 2015 Jun 30, 2015

Free Cash Flow

Note: Unless otherwise indicated, all figures in the above charts are for the three months ended on the respective dates.(1) Free cash flow represents net cash provided by operating activities as presented in Alibaba Group’s consolidated cash flow statement less purchases of

property and equipment and intangible assets (excluding acquisition of land use rights and construction in progress) and adjusted for changes in loan receivables relating to micro loans of its SME loan business and others.

GAAP to Non-GAAP Reconciliation

For the Three Months Ended

RMB MM Jun 30, 2014 Mar 31, 2015 Jun 30, 2015

Non-GAAP EBITDA

Income from operations 6,844 2,599 5,161

Add: Share based compensation expense 1,073 4,632 3,995

Add: Amortization of intangible assets 234 643 647

Add: Depreciation and amortization of property and equipment and land use rights 423 709 782

Non-GAAP EBITDA 8,574 8,583 10,585

Non-GAAP net income

Net income 12,438 2,869 30,816

Add: Share based compensation expense 1,073 4,632 3,995

Add: Amortization of intangible assets 234 643 647

28

Add: Amortization of intangible assets 234 643 647

Add: Impairment of goodwill, intangible assets and investments - - 60

Add: Gain on deemed disposals /disposals/revaluation of investments (6,428) (468) (26,088)

Add: Amortization of excess value receivable arising from the restructuring of

commercial arrangements with Ant Financial - 65 66

Non-GAAP net income 7,317 7,741 9,496

Free cash flow

Net cash provided by operating activities 10,177 5,767 10,400

Less: Purchase of property, equipment and intangible assets

(excluding land use rights and construction in progress)(1,155) (700) (1,130)

Add: Changes in loan receivables, net and others 1,572 598 278

Free cash flow 10,594 5,665 9,548

Market Cap

(USD bn)Shareholding

BABA Holding

Value (USD Bn)

Alibaba Pictures(1) 7 49.5%(2) 4

Alibaba Health(1) 7 38%(2) 3

Ant Financial(3) 43 33%(3) 14

Strategic Investment Portfolio

Notional

Interest

YoukuTudou(1) 4 17%(4) 1

Weibo(1) 3 30%(4) 1

Net Cash Balance as of June 30, 2015(5) 10

Total Value 33

29

Note: (1) Alibaba Pictures, Alibaba Health YoukuTudou and Weibo market cap as of Aug 11, 2015 closing pricing. (2) On primary shareholding basis.(3) Ant Financial valuation based on estimated valuation of USD 43 billion; Alibaba Group receives 37.5% of Ant’s pre-tax income now, and if regulations

allow, Alibaba Group is entitled to acquire up to a 33% equity interests in Ant Financial. For conservative purpose, 33% is used in calculating Alibaba Group’s economics in Ant Financial here.

(4) On fully diluted shareholding basis.(5) Net Cash = Cash, cash equivalents, and short term investments – Bank borrowings – Unsecured senior notes.

Lock-up

Total no. of shares Lock-up Expiry

Total no. of shares to be un-locked 1,579MM Sept 19, 2015 (Saturday)

First Public Trading Day:

Sept 21, 2015 (Monday)

Major components

Softbank 798MM

30

Softbank 798MM

Yahoo 384MM

Jack Yun MA and Joseph C. TSAI 269MM