HUYA Inc. Reports Third Quarter 2024 Unaudited Financial Results

GUANGZHOU,China,Nov. 12,2024 -- HUYA Inc. ("Huya" or the "Company") (NYSE: HUYA),a leading game live streaming platform in China,today announced its unaudited financial results for the third quarter ended September 30,2024.

Third Quarter 2024 Highlights[1]

Total net revenues were RMB1,537.7 million (US$219.1 million) for the third quarter of 2024,compared with RMB1,664.3 million for the same period of 2023.

Game-related services,advertising and other revenues (formerly known as advertising and other revenues) were RMB410.2 million (US$58.4 million) for the third quarter of 2024,compared with RMB132.6 million for the same period of 2023.

Net income attributable to HUYA Inc. was RMB23.6 million (US$3.4 million) for the third quarter of 2024,compared with RMB10.5 million for the same period of 2023.

Non-GAAP net income attributable to HUYA Inc.[2] was RMB78.0 million (US$11.1 million) for the third quarter of 2024,compared with RMB106.7 million for the same period of 2023.

Average mobile MAUs[3]for the third quarter of 2024 was 84.0 million,compared with 86.0 million for the same period of 2023.

"In the third quarter of 2024,our game-related services business achieved robust growth thanks to our continuous efforts to enhance cooperation with game studios and deepen broadcasters' engagement on our platform. Revenues from game-related services,advertising,and others grew by 209.3% year-over-year in the third quarter,reaching RMB410.2 million and contributing a record high of 26.7% of our total net revenues," said Mr. Junhong Huang,Acting Co-Chief Executive Officer and Senior Vice President of Huya. "We also maintained stable engagement across our high-quality user base. Our paying users[4] rose by 9.5% year-over-year to 4.6 million in the third quarter,driven by the increase in users paying for game-related services. Furthermore,our growing collaborations with various content platforms brought our compelling game live streaming and video content to a wider audience,unlocking new commercialization opportunities. Going forward,we will continue to foster in-house content initiatives and develop productive partnerships,unleashing our potential across game-related services and live streaming and propelling our long-term business development."

Mr. Raymond Peng Lei,Acting Co-Chief Executive Officer and Chief Financial Officer of Huya,continued,"We recorded total net revenues of RMB1.54 billion in the third quarter. While the macroeconomic and industry environment continued to weigh on our live streaming revenues,we proactively adjusted our business structure to support our strategic transformation. Game-related services,advertising and other businessesmaintained strong growth momentum and made a more meaningful contribution to our topline. Overall,we delivered a stable year-over-year operating performance by improving efficiency and reducing total operating expenses by 20.9% year-over-year. Regarding shareholder returns,as of the end of September 2024,we had repurchased US$61.1 million of Huya shares through our share repurchase program. We have also returned an aggregate value of approximately US$400 million through two rounds of special cash dividends this year. As always,we remain committed to enhancing our financial and operating performance and creating greater value for shareholders."

Third Quarter 2024 Financial Results

Total net revenues for the thirdquarter of 2024 were RMB1,537.7 million (US$219.1million),664.3million for the same period of 2023.

Live streaming revenueswere RMB1,127.5million (US$160.7million) for the thirdquarter of 2024,531.7million for the same period of 2023,primarily due to the continued impact of the macroeconomic and industry environment and the Company's proactive business adjustments in support of its strategic transformation and prudent operations.

Game-related services,advertising and other revenues were RMB410.2 million (US$58.4million) for the thirdquarter of 2024,compared with RMB132.6million for the same period of 2023,primarily due to increased revenues from game distributionand advertisingservices and in-game item sales,whichwasmainlyattributabletotheCompany'sdeepenedcooperationwithTencent andothergamecompanies.

Cost of revenues decreased by 6.1% to RMB1,334.1 million (US$190.1 million) for the third quarter of 2024 from RMB1,421.5 million for the same period of 2023,primarily due to decreased revenue sharing fees and content costs,as well as bandwidth and server custody fees.

Revenue sharing fees and content costsdecreased by 4.9% to RMB1,172.7million (US$167.1million) for the thirdquarter of 2024 from RMB1,233.2 million for the same period of 2023,primarily due to decreasedlive streaming revenue sharing fees associated with the decline in live streaming revenues as well as lower costs related to licensed e-sports content,partially offset by increased game-related services,advertising and other revenue sharing fees.

Bandwidth and server custody fees decreased by 26.4% to RMB61.4million (US$8.8million) for the thirdquarter of 2024 from RMB83.4 million for the same period of 2023,primarily due to continued technology and management enhancement efforts,as well as favorable pricing terms.

Gross profitwas RMB203.6million (US$29.0million) for the thirdquarter of 2024,compared with RMB242.8million for the same period of 2023. Gross margin was 13.2% for the third quarter of 2024,compared with 14.6% for the same period of 2023. This change was primarily attributable to increased revenue sharing fees and content costs as a percentage of total net revenues,which rose mainly because the decrease in live streaming revenues outpaced the decrease in content costs.

Research and development expenses decreased by 12.1% to RMB125.5million (US$17.9million) for the thirdquarter of 2024 from RMB142.8 million for the same period of 2023,primarily due to decreased personnel-related expenses and share-based compensation expenses.

Sales and marketing expenses decreased by 30.4% to RMB73.3million (US$10.4million) for the thirdquarter of 2024 from RMB105.4 million for the same period of 2023,primarily due to decreased marketing and promotion fees,as well as personnel-related expenses.

General and administrative expenses decreased by 24.7% to RMB50.0 million (US$7.1million) for the thirdquarter of 2024 from RMB66.4million for the same period of 2023,primarily due to decreased professional service fees and personnel-related expenses.

Other income was RMB13.0 million (US$1.8million) for the thirdquarter of 2024,compared with RMB40.2 million for the same period of 2023,primarily attributable to realized damages received in the third quarter of 2023 from a favorable outcome in a broadcaster-related lawsuit and lower government subsidies.

Operating loss wasRMB32.3million (US$4.6million) for the thirdquarter of 2024,compared with RMB31.6million for the same period of 2023.

Interest income was RMB96.6 million (US$13.8 million) for the third quarter of 2024,compared with RMB128.5 million for the same period of 2023,primarily due to lower time deposit balance,which was mainly attributable to the special cash dividends paid in May 2024 and October 2024.

Net income attributable to HUYA Inc. was RMB23.6 million (US$3.4 million) for the third quarter of 2024,compared with RMB10.5 million for the same period of 2023.

Non-GAAP net income attributable to HUYA Inc. was RMB78.0million (US$11.1million) for the thirdquarter of 2024,compared with RMB106.7million for the same period of 2023.

Basic and diluted net income per American depositary share ("ADS") were each RMB0.10 (US$0.01) for the third quarter of 2024. Basic and diluted net income per ADS were each RMB0.04 for the third quarter of 2023. Each ADS represents one Class A ordinary share of the Company.

Non-GAAP basic and diluted net income per ADS were each RMB0.34 (US$0.05) for the third quarter of 2024. Non-GAAP basic and diluted net income per ADS were RMB0.44 and RMB0.43,respectively,for the third quarter of 2023.

As of September 30,2024,the Company had cash and cash equivalents,short-term deposits,short-term investment and long-term deposits of RMB8,078.4 million (US$1,151.2 million),compared with RMB8,193.3 million as of June 30,2024.

Share Repurchase Program

The board of directors of the Company authorized a share repurchase program in August 2023,under which the Company may repurchase up to US$100 million of its ADSs or ordinary shares over a 12-month period. In August 2024,the board of directors of the Company authorized an extension of the expiry date of the share repurchase program to March 31,2025. As of September 30,the Company had repurchased 18.2 million ADSs with a total aggregate consideration of US$61.1 million under this program.

Earnings Webinar

The Company's management will host a Tencent Meeting Webinar at 7:00 a.m. U.S. Eastern Time on November 12,2024 (8:00 p.m. Beijing/Hong Kong time on November 12,2024),to review and discuss the Company's business and financial performance.

For participants who wish to join the webinar,please complete the online registration in advance using the links provided below. Upon registration,participants will receive an email with webinar access information,including meeting ID,meeting link,dial-in numbers,and a unique attendee ID to join the webinar.

Participant Online Registration:

Chinese Mainland[5]: https://meeting.tencent.com/dw/6WRc9Ojhmp5c

International: https://voovmeeting.com/dw/6WRc9Ojhmp5c

A live webcast of the webinar will be accessible athttps://ir.huya.com,and a replay of the webcast will be available following the session.

[1] In December 2023,the Company acquired a global mobile application service provider fromTencent Holdings Limited for an aggregate cash consideration of US$81 million,the principal terms of which were previously disclosed. As a result of this business combination under common control,in accordance with ASC 805,Business Combinations,the Company has consolidated the financial results of this mobile application service provider on a retrospective basis since the first quarter of 2022. Accordingly,retrospective adjustments have been made to the Company's consolidated historical financial information presented herein,reflecting the consolidation of this mobile application service provider. The Company does not believe the retrospective adjustments to the Company's results to be material,as compared to the historical financial information previously presented. Given that this was a transaction that involved entities under common control of Tencent Holdings Limited,all assets and assumed liabilities transferred have been recognized at the historical cost of the parent.

[2] "Non-GAAP net income attributable toHUYA Inc." is defined as net income attributable to HUYA Inc. excluding share-based compensation expenses,impairment loss of investments,and amortization of intangible assets from business acquisitions,net of income taxes,to the extent applicable. For more information,please refer to the section titled "Use of Non-GAAP Financial Measures" and the table captioned "HUYA Inc. Unaudited Reconciliations of GAAP and Non-GAAP Results" at the end of this press release.

[3] Refers to the average mobile monthly active users who accessed the Company's domesticHuya Live platform and related services. Average mobile MAUs for any period is calculated by dividing (i) the sum of mobile active users for each month during such relevant period,by (ii) the number of months during such relevant period.

[4] Refers to the sum of user accounts that purchased various products and services on the Company's domesticHuya Live platform and related services at least once during such relevant period.

[5] For the purpose of this announcement only,Chinese Mainland excludes the Hong Kong Special Administrative Region,the Macao Special Administrative Region of the People's Republic of China,and Taiwan.

About HUYA Inc.

HUYA Inc. is a leading game live streaming platform in China. As a technology-driven company,Huya offers rich and dynamic content across games,e-sports,and other entertainment genres where it has cultivated a large,highly engaged,interactive,immersive community of game enthusiasts. Building on its success in game live streaming and through close collaboration with game companies,e-sports tournament organizers,broadcasters and talent agencies,Huya is expanding its presence in the game industry,both domestically and internationally. By providing more innovative game-related services,the Company is committed to meeting the evolving needs of game enthusiasts,content creators,and industry partners.

Use of Non-GAAP Financial Measures

The unaudited condensed consolidated financial information is prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"),except that the consolidated statement of changes in shareholders' equity,consolidated statements of cash flows,and the detailed notes have not been presented. Huya uses non-GAAP gross profit,non-GAAP operating loss,non-GAAP net income attributable to HUYA Inc.,non-GAAP net income attributable to ordinary shareholders,non-GAAP basic and diluted net income per ordinary shares,and non-GAAP basic and diluted net income per ADS,which are non-GAAP financial measures. Non-GAAP gross profit is gross profit excluding share-based compensation expenses allocated in cost of revenues. Non-GAAP operating loss is operating loss excluding share-based compensation expenses and amortization of intangible assets from business acquisitions. Non-GAAP net income attributable to HUYA Inc. is net incomeattributable to HUYA Inc. excluding share-based compensation expenses,to the extent applicable. Non-GAAP net income attributable to ordinary shareholders is net income attributable to ordinary shareholders excluding share-based compensation expenses,to the extent applicable. Non-GAAP basic and diluted net income per ADS is non-GAAP net income attributable to ordinary shareholders divided by weighted average number of ADS used in the calculation of non-GAAP basic and diluted net income per ADS. The Company believes that separate analysis and exclusion of the impact of (i) share-based compensation expenses,(ii) impairment loss of investments,and (iii) amortization of intangible assets from business acquisitions (net of income taxes),add clarity to the constituent parts of its performance. The Company reviews these non-GAAP financial measures together with GAAP financial measures to obtain a better understanding of its operating performance. It uses the non-GAAP financial measures for planning,forecasting and measuring results against the forecast. The Company believes that non-GAAP financial measures represent useful supplemental information for investors and analysts to assess its operating performance without the effect of (i) share-based compensation expenses,and (ii) amortization of intangible assets from business acquisitions (net of income taxes),which have been and will continue to be significant recurring expenses in its business,and (iii) impairment loss of investments,which may recur when there is observable price change in the future. However,the use of non-GAAP financial measures has material limitations as an analytical tool. One of the limitations of using non-GAAP financial measures is that they do not include all items that impact the Company's net income for the period. In addition,because non-GAAP financial measures are not measured in the same manner by all companies,they may not be comparable to other similar titled measures used by other companies. In light of the foregoing limitations,you should not consider a non-GAAP financial measure in isolation from or as an alternative to the financial measures prepared in accordance with U.S. GAAP.

The presentation of these non-GAAP financial measures is not intended to be considered in isolation from,or as a substitute for,the financial information prepared and presented in accordance with U.S. GAAP. For more information on these non-GAAP financial measures,please see the table captioned "HUYA Inc. Unaudited Reconciliations of GAAP and Non-GAAP Results" at the end of this announcement.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader.Unless otherwise noted,all translations from RMB to U.S. dollars are made at a rate of RMB7.0176 to US$1.00,the noon buying rate in effect on September 30,in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the Renminbi or U.S. dollar amounts referred to in this announcement could have been or could be converted into U.S. dollars or Renminbi,as the case may be,at any particular rate or at all.

Safe Harbor Statement

This announcement 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 quotations from management in this announcement,as well as Huya's strategic and operational plans,contain forward-looking statements. Huya 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 Huya'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: Huya's goals and strategies; Huya's future business development,results of operations and financial condition; the expected growth of the live streaming market and game market; the expectation regarding the rate at which to gain active users,especially paying users; Huya's ability to monetize the user base; Huya's efforts in complying with applicable data privacy and security regulations; fluctuations in general economic and business conditions in China; the economy in China and elsewhere generally; any regulatory developments in laws,regulations,rules,policies or guidelines applicable to Huya; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Huya's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release,and Huya does not undertake any obligation to update any forward-looking statement,except as required under applicable law.

For investor and media inquiries,please contact:

In China:

HUYA Inc.

Investor Relations

Tel: +86-20-2290-7829

E-mail: [email protected]

Piacente Financial Communications

Jenny Cai

Tel: +86-10-6508-0677

E-mail: [email protected]

In the United States:

Piacente Financial Communications

Brandi Piacente

Tel: +1-212-481-2050

E-mail: [email protected]

HUYA INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(All amounts in thousands,except share,ADS,per share data and per ADS data)

As of December 31,

As of September 30,

2023

2024

2024

RMB

RMB

US$

Assets

Current assets

Cash and cash equivalents

511,973

1,095,785

156,148

Restricted cash

18,137

17,840

2,542

Short-term deposits

6,851,160

5,472,648

779,846

Accounts receivable,net

64,258

89,927

12,814

Prepaid assets and amounts due from related

parties,net

148,648

337,175

48,047

Prepayments and other current assets,net

556,435

689,311

98,226

Total current assets

8,150,611

7,702,686

1,097,623

Non-current assets

Long-term deposits

2,553,293

1,510,000

215,173

Investments

751,844

606,455

86,419

Goodwill

456,976

452,118

64,426

Property and equipment,net

326,765

447,592

63,781

Intangible assets,net

161,739

134,063

19,104

Right-of-use assets,net

379,006

348,001

49,590

Prepayments and other non-current assets

144,120

123,461

17,593

Total non-current assets

4,773,743

3,621,690

516,086

Total assets

12,924,354

11,324,376

1,613,709

Liabilities and shareholders' equity

Current liabilities

Accounts payable

14,961

68,337

9,738

Advances from customers and deferred revenue

412,257

265,491

37,832

Income taxes payable

49,914

54,923

7,826

Accrued liabilities and other current liabilities

1,474,827

1,294,164

184,414

Amounts due to related parties

177,714

150,096

21,389

Lease liabilities due within one year

31,832

29,558

4,212

Dividends payable

-

1,744,867

248,642

Total current liabilities

2,161,505

3,607,436

514,053

Non-current liabilities

Lease liabilities

48,069

24,658

3,514

Deferred tax liabilities

42,317

29,267

4,171

Deferred revenue

47,864

37,843

5,393

Total non-current liabilities

138,250

91,768

13,078

Total liabilities

2,299,755

3,699,204

527,131

HUYA INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)

(All amounts in thousands,

2023

2024

2024

RMB

RMB

US$

Shareholders' equity

Class A ordinary shares (US$0.0001 par value;

750,000,000 shares authorized as of December

31,2023 and September 30,respectively;

82,696,852 and 75,455,486 shares issued and

outstanding as of December 31,2023 and

September 30,respectively)

61

52

7

Class B ordinary shares (US$0.0001 par value;

200,2022 and September 30,2023,respectively;

150,386,517 and 150,517 shares issued and

outstanding as of December 31,respectively)

98

98

14

Treasury shares

(206,345)

(90,042)

(12,831)

Additional paid-in capital

12,100

8,849,094

1,260,986

Statutory reserves

122,429

122,429

17,446

Accumulated deficit

(2,052,336)

(1,928,088)

(274,750)

Accumulated other comprehensive income

760,592

671,629

95,706

Total shareholders' equity

10,624,599

7,625,172

1,086,578

Total liabilities and shareholders' equity

12,709

HUYA INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(All amounts in thousands,per share data and per ADS data)

Three Months Ended

Nine Months Ended

September 30,

2023*

June 30,

2024

September 30,

2023*

September 30,

2024

RMB

RMB

RMB

US$

RMB

RMB

US$

Net revenues

Live streaming

1,531,711

1,233,064

1,127,499

160,667

5,107,319

3,007

515,989

Game-related services,advertising and other

revenues

132,591

308,518

410,160

58,447

357,196

962,281

137,124

Total net revenues

1,664,302

1,541,582

1,537,659

219,114

5,464,515

4,583,288

653,113

Cost of revenues(1)

(1,421,460)

(1,326,710)

(1,334,085)

(190,106)

(4,521)

(3,944,297)

(562,058)

Gross profit

242,842

214,872

203,574

29,008

799,994

638,991

91,055

Operating expenses(1)

Research and development expenses

(142,832)

(128,710)

(125,508)

(17,885)

(441,610)

(389,324)

(55,478)

Sales and marketing expenses

(105,354)

(61,689)

(73,330)

(10,449)

(327,262)

(211,251)

(30,103)

General and administrative expenses

(66,417)

(63,729)

(50,025)

(7,129)

(220,600)

(173,786)

(24,764)

Total operating expenses

(314,603)

(254,128)

(248,863)

(35,463)

(989,472)

(774,361)

(110,345)

Other income,net

40,185

13,219

12,958

1,847

68,153

38,486

5,484

Operating loss

(31,576)

(26,037)

(32,331)

(4,608)

(121,325)

(96,884)

(13,806)

Interest income

128,480

102,523

96,580

13,763

350,201

316,155

45,052

Impairment loss of investments

(80,774)

(45,079)

(36,298)

(5,172)

(145,889)

(81,377)

(11,596)

Foreign currency exchange (losses)/gains,net

(1,765)

364

(1,225)

(175)

(3,817)

(3,280)

(467)

Income before income tax expenses

14,365

31,771

26,726

3,808

79,170

134,614

19,183

Income tax expenses

(3,822)

(2,169)

(3,113)

(444)

(8,718)

(10,366)

(1,477)

Net income attributable to HUYA Inc.

10,543

29,602

23,613

3,364

70,452

124,248

17,706

Net income attributable to ordinary

shareholders

10,706

HUYA INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (CONTINUED)

(All amounts in thousands,

2024

RMB

RMB

RMB

US$

RMB

RMB

US$

Net income per ADS**

—Basic

0.04

0.13

0.10

0.01

0.29

0.54

0.08

—Diluted

0.04

0.13

0.10

0.01

0.29

0.53

0.08

Net income per ordinary share

—Basic

0.04

0.13

0.10

0.01

0.29

0.54

0.08

—Diluted

0.04

0.13

0.10

0.01

0.29

0.53

0.08

Weighted average number of ADS used in

calculating net income per ADS

—Basic

244,651,286

231,022,644

231,366,502

231,502

243,736,441

231,852,981

231,981

—Diluted

246,437,179

234,167,978

232,948,154

232,154

246,529,235

234,514,598

234,598

* HUYA Inc. Unaudited Condensed Consolidated Statements of Operations for three months ended September 30,2023 and nine months ended September

30,2023 have been retrospectively adjusted due to the business combination under common control as stated in footnote 1 of this press release.

** Each ADS represents one Class A ordinary share.

(1) Share-based compensation was allocated in cost of revenues and operating expenses as follows:

Three Months Ended

Nine Months Ended

September 30,

2023

June 30,

2023

September 30,

2024

RMB

RMB

RMB

US$

RMB

RMB

US$

Cost of revenues

2,543

4,492

3,521

502

16,154

12,298

1,752

Research and development expenses

7,296

7,873

5,497

783

40,133

20,986

2,990

Sales and marketing expenses

651

446

171

24

2,594

983

140

General and administrative expenses

(68)

4,573

4,014

572

19,000

12,855

1,832

HUYA INC.

UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS

(All amounts in thousands,

2024

RMB

RMB

RMB

US$

RMB

RMB

US$

Gross profit

242,842

214,872

203,574

29,008

799,994

638,991

91,055

Share-based compensation expenses allocated

in cost of revenues

2,752

Non-GAAP gross profit

245,385

219,364

207,095

29,510

816,148

651,289

92,807

Operating loss

(31,576)

(26,037)

(32,331)

(4,608)

(121,325)

(96,884)

(13,806)

Share-based compensation expenses

10,422

17,384

13,203

1,881

77,881

47,122

6,714

Amortization of intangible assets from

business acquisitions

5,993

5,941

5,937

846

17,605

17,808

2,538

Non-GAAP operating loss

(15,161)

(2,712)

(13,191)

(1,881)

(25,839)

(31,954)

(4,554)

Net income attributable to HUYA Inc.

10,543

29,602

23,613

3,364

70,452

124,248

17,706

Impairment loss of investments

80,774

45,079

36,298

5,172

145,889

81,377

11,596

Share-based compensation expenses

10,714

Amortization of intangible assets from

business acquisitions,net of income taxes

4,974

4,931

4,928

702

14,612

14,781

2,106

Non-GAAP net income attributable to

HUYA Inc.

106,713

96,996

78,042

11,119

308,834

267,528

38,122

Net income attributable to ordinary

shareholders

10,106

Non-GAAP net income attributable to

ordinary shareholders

106,122

Non-GAAP net income per ordinary share

—Basic

0.44

0.42

0.34

0.05

1.27

1.15

0.16

—Diluted

0.43

0.41

0.34

0.05

1.25

1.14

0.16

Non-GAAP net income per ADS

—Basic

0.44

0.42

0.34

0.05

1.27

1.15

0.16

—Diluted

0.43

0.41

0.34

0.05

1.25

1.14

0.16

Weighted average number of ADS used in

calculating Non-GAAP net income per

ADS

—Basic

244,598

* HUYA Inc. Unaudited Reconciliations of GAAP and Non-GAAP Results for three months endedSeptember 30,2023 and nine months endedSeptember

30,2023 have been retrospectively adjusted due to the business combination under common control as stated in footnote 1 of this pressrelease.