Atour Lifestyle Holdings Limited Announces Pricing of its Initial Public Offering

Atour Lifestyle Holdings Limited (“Atour” or the “Company”) (NASDAQ: ATAT), a leading hospitality and lifestyle company in China, announced today that it has priced its initial public offering of 4,750,000 American Depositary Shares ("ADSs"), each representing three Class A ordinary shares of the Company, at US$11.0 per ADS. The ADSs will begin trading on November 11, 2022 on the Nasdaq Global Select Market under the ticker symbol "ATAT." The offering is expected to close on November 15, 2022, subject to customary closing conditions.

The Company has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an aggregate of 712,500 additional ADSs. The total gross proceeds of the offering are expected to be approximately US$52.3 million if the underwriters do not exercise their over-allotment option, and approximately US$60.1 million if the underwriters choose to exercise their over-allotment option in full.

BofA Securities, Inc., Citigroup Global Markets Inc., China International Capital Corporation Hong Kong Securities Limited and CMB International Capital Limited are acting as underwriters for the offering. Redbridge Securities LLC and Tiger Brokers (NZ) Limited are acting as co-managers for the offering.

A registration statement related to these securities has been filed with, and declared effective by the U.S. Securities and Exchange Commission (the "SEC"). This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

This offering is being made only by means of a prospectus forming a part of the effective registration statement. Copies of the final prospectus relating to the offering may be obtained, when available, by contacting the following underwriters: (1) BofA Securities, Inc., One Bryant Park, New York, NY 10036, United States of America, or by telephone at [phone] or by emailing [e-mail]; (2) Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by telephone at [phone], or by emailing [e-mail]; (3) China International Capital Corporation Hong Kong Securities Limited, 29th Floor, One International Finance Centre, 1 Harbour View Street, Central, Hong Kong, or by telephone at [phone]; (4) CMB International Capital Limited, 45F, Champion Tower, 3 Garden Road, Central, Hong Kong, or by telephone at [phone].

About Atour Lifestyle Holdings Limited

Atour Lifestyle Holdings Limited (NASDAQ: ATAT) is a leading hospitality and lifestyle company in China, with a distinct portfolio of lifestyle hotel brands. According to Frost & Sullivan, Atour is the largest upper midscale hotel chain in China in terms of room numbers as of the end of 2021, and is the first Chinese hotel chain to develop a scenario-based retail business. Atour is committed to bringing innovations to China’s hospitality industry and building new lifestyle brands around hotel offerings. For more information, please visit https://ir.yaduo.com.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to", or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

Investor Relations Contact

Atour Lifestyle Holdings LimitedEmail: [e-mail]

The Piacente Group, Inc.Email: [e-mail]: [phone]