For the Year Ended December 31,

2020

2021

2022

(RMB in thousands, except for share and per share data)

Numerator:

Net income (loss) attributable to KE Holdings Inc.

2,777,592

(524,129)

(1,386,074)

Accretion on Series B Preferred Shares to redemption value

(242,270)

—

Accretion on Series C Preferred Shares to redemption value

(554,415)

—

Accretion on Series D Preferred Shares to redemption value

(519,201)

—

Accretion on Series D+ Preferred Shares to redemption value

(439,342)

—

Income allocation to participating preferred shares

(301,898)

—

Net income (loss) attributable to KE Holdings Inc.’s ordinary shareholders

720,466

(524,129)

(1,386,074)

Denominator:

Denominator for basic net income (loss) per share-weighted average ordinary shares outstanding

2,226,264,859

3,549,121,628

3,569,179,079

Dilutive effect of the obligation to issue ordinary shares in relation to the acquisition of Zhonghuan

6,375,753

—

Adjustments for dilutive share options

34,690,279

—

Denominator for diluted net income (loss) per share-weighted average ordinary shares outstanding

2,267,330,891

3,549,121,628

3,569,179,079

Net income (loss) per share attributable to ordinary shareholders:

—Basic

0.32

(0.15)

(0.39)

—Diluted

0.32

(0.15)

(0.39)