Youlife Group Inc.

Corporate History On February 26, 2019, Youlife International was incorporated as an exempted company with limited liability in the Cayman Islands. On March 27, 2019, Youlife Technology Limited ( Youlife Technology ) was incorporated in Hong Kong with a total issued share capital of HK$10,000. On the same day, an aggregate of 10,000 shares were allotted and issued to Youlife International and Youlife Technology became a directly wholly-owned subsidiary of Youlife International. Pursuant to an investment agreement dated August 31, 2020, as a portion of the onshore part of the Series C Investment, You Service Industrial Company Limited ( You Service ) subscribed for 2.0% shareholding interest in Shanghai Youerlan Information Technology Co., Ltd. ( Shanghai Youerlan ) at a consideration of US$5 million, which was based on the pre-money valuation of RMB1.5 billion of our Group in the Series C Investment and fully settled on November 19, 2020. Upon the completion of such investment, Shanghai Youerlan became a sino-foreign joint venture. Pursuant to the respective equity transfer agreements dated October 30, 2020, Youlife Technology acquired an aggregate of approximately 98.0% shareholding interest in Shanghai Youerlan from its then shareholders (except for You Service) at a total consideration of the US dollars equivalent to RMB406.56 million, upon the filing of the shareholding changes Shanghai Youerlan was held by Youlife Technology and You Service as to approximately 98.0% and 2.0%, respectively.