Slides
Page 1
Presentation August 2026
Page 2
Disclaimer THIS DOCUMENT AND ITS CONTENTS ARE NOT FOR RELEASE, REPRODUCTION, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, TO ANY OTHER PERSON OR IN OR INTO OR FROM ANY JURISDICTION WHERE SUCH RELEASE, REPRODUCTION, PUBLICATION OR DISTRIBUTION IS UNLAWFUL. PERSONS INTO WHOSE POSSESSION THIS PRESENTATION COMES SHOULD INFORM THEMSELVES ABOUT, AND OBSERVE, ANY SUCH RESTRICTIONS. This document has been prepared by Baidu, Inc. (“Baidu” or the “Company”) solely for information purpose. This document shall not constitute an offer to sell or the solicitation of an offer to buy any securities of Baidu, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. By viewing or accessing the information contained in this material, you hereby acknowledge and agree that no representations, warranties or undertakings, express or implied, are made by Baidu or any of its directors, shareholders, employees, agents, affiliates, underwriters, advisors or representatives as to, and no reliance should be placed upon, the accuracy, fairness, completeness or correctness of the information or opinions presented or contained in this document. None of Baidu or any of its directors, shareholders, employees, agents, affiliates, underwriters, advisors or representatives accept any responsibility whatsoever (in negligence or otherwise) for any loss howsoever arising from any information presented or contained in this document or otherwise arising in connection with the document. The information presented or contained in this document is subject to change without notice and its accuracy is not guaranteed. No securities of Baidu may be sold in the United States without registration with the United States Securities and Exchange Commission (the “SEC”) or an exemption from such registration pursuant to the Securities Act of 1933, as amended (the “Securities Act”) and the rules and regulations thereunder. This document may include Baidu’s information that has been published but not included in the registration statement or prospectus of Baidu and no part of this document shall form the basis of or be relied upon in connection with any contract or investment decision in relation to any securities or otherwise. This document does not contain all relevant information relating to Baidu or its securities, particularly with respect to the risks and special considerations involved with an investment in the securities of Baidu. Nothing contained in this document shall be relied upon as a promise or representation as to the past or future performance of Baidu. Past performance does not guarantee or predict future performance. You acknowledge that any assessment of Baidu that may be made by you will be independent of this document and that you will be solely responsible for your own assessment of the market and the market position of Baidu and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the business of Baidu. This document contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential”, “forecast”, “plan”, “seek”, “future”, “propose” or “continue”, or the negatives of these terms or variations of them or similar terminology although not all forward-looking statements contain such terminology. Forward-looking statements involve inherent risks and uncertainties, including those identified in the filings by Baidu with the SEC. All information provided in this document is as of the date of this document. Baidu reserves the right to amend or replace this document at any time but undertakes no obligation to update or supplement any content set forth in this document should circumstances, management’s estimates or opinions change or any information provided in this document become inaccurate, except as required under applicable law. To the extent this document contains any non-GAAP financial measures, any such measure is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. In addition, Baidu’s calculation of these non-GAAP financial measures may be different from the calculation used by other companies, and therefore comparability may be limited. This document may contain trademarks, service marks, trade names and copyrights of third parties, which are the property of their respective owners. Solely for convenience, some of the trademarks, service marks, trade names and copyrights referred to in this document may be listed without symbols, but such references are not intended to indicate, in any way, that the Company or the third parties will not assert, to the fullest extent under applicable law, their rights or the right of the applicable owners or to these trademarks, service marks, trade names and copyrights.
Page 3
AI-powered Business: Continuing to Account for Half of Baidu General Business Revenue Note: 1 Starting in 4Q25, we redefined Baidu Core as Baidu General Business. Baidu General Business includes Baidu Core AI-powered Business, Legacy Business, and Others. Legacy Business mainly consists of traditional advertising services across Search, Feed and other properties. The revenue and operational data presented in this slide are derived from the Company's internal management accounts and records, which have not been audited. 2 Company data as of August 2026. 3 GPU Cloud revenue was previously referred to as subscription-based revenue from AI accelerator infrastructure. The growth in GPU Cloud Revenue reflected mounting demand for public cloud-based AI computing. 28 Cities Global Leader in Robotaxi Services Global Footprint2 Comprehensive AI Application Portfolio RMB 2.5B Revenue in 2Q261 AI-native Marketing Services RMB 2.6B Revenue in 2Q261 of Baidu General Business revenue in 2Q261 Key Highlights RMB in billions 2Q25 2Q26 YoY Baidu Core AI-powered Business1 10.0 12.5 25% - AI Cloud Infra 4.9 7.3 50% - AI Applications 2.5 2.5 3% - AI-native Marketing Services 2.6 2.6 0% 12.5B RMB revenue in 2Q261 50% Leading AI Cloud Infrastructure in China 50% YoY GPU Cloud revenue growth in 2Q261,3 AI Cloud Infra revenue growth in 2Q261 283% YoY Baidu Core AI-powered Business1 Baidu’s Proprietary AI Chips - Kunlunxin Growing recognition for high efficiency, strong stability, broad compatibility and versatility 1
Page 4
128% 143% 184% 283% 3Q25 4Q25 1Q26 2Q26 AI Cloud Infra: Robust Demand Fueling Strong Growth Note: 1 The revenue presented in this slide is derived from the Company‘s internal management accounts and records, which has not been audited. 2 AI Cloud revenue includes revenue from AI Cloud Infra and AI Applications. 3 GPU Cloud revenue was previously referred to as subscription-based revenue from AI accelerator infrastructure. The growth in GPU Cloud Revenue reflected mounting demand for public cloud-based AI computing. GPU Cloud Revenue Growth Accelerating1,3 Key Highlights 2 AI Cloud Infra revenue growth in 2Q261 7.3B GPU Cloud revenue growth in 2Q261 283% RMB 50% YoY YoY Triple-digit revenue growth for FY251 9.9B RMB AI Cloud revenue in 2Q261,2 34% YoY AI Cloud Infra continued to capture robust demand for AI computing across both training and inference workloads. Adoption continued to broaden across industries and use cases, including internet, gaming, embodied AI, autonomous driving, smartphones and financial services. The customer base expanded rapidly, driven by broad-based adoption among new customers and increased usage and spending among existing customers. Revenue from external customers’ token usage on Qianfan grew more than ninefold year over year in the second quarter of 2026.
Page 5
Note: 1 The revenue presented in this slide is derived from the Company's internal management accounts and records, which has not been audited. AI Applications: A Broad and Expanding AI Application Portfolio • Baidu Wenku and Baidu Drive: deepened AI integration through enhanced AI capabilities, including GenFlow(库库AI) upgrades, with AI DAU penetration increasing 27% YoY in June 2026. • Digital Employee: enterprise AI assistant powered by large language models and digital human technology. • Miaoda (MeDo, 秒哒): Baidu’s vibe coding platform, enabling users to build a wide range of applications, including mobile apps for both iOS and Android, through natural language. In June 2026, Miaoda’s MAUs increased by 67% compared to March 2026. • Yijian (一见): a multimodal large language model- powered visual management platform enabling complex visual analysis for enterprises. • Famou Agent (伐谋): Baidu’s self-evolving agent for enterprises, enabling domain experts to solve complex operational tasks through natural language. • DuerOS: leading Chinese-language smart assistant powering Xiaodu and third-party smart devices. • DuMate (搭子): A general-purpose AI agent for everyday productivity, with proprietary Baidu skills and seamless access across PC and mobile. Enterprise version was launched in June 2026. … AI Applications revenue in 2Q261 AI Applications revenue for FY251 2.5B RMB > 10B RMB 3
Page 6
Apollo Go: Global Leader in Robotaxi Services Note: 1 Company data as of August 2026. 2 Company data as of June 2026. 4 ✓ Kazakhstan: signed an MoU with TPH Ltd. to jointly explore autonomous ride-hailing services. Global Footprint1 28 Cities Per Airbag Deployment2 14.4M km Cumulative Autonomous km1 > 350M Cumulative fully driverless Autonomous km1 > 240M Hong Kong Chinese Mainland The United Arab Emirates Europe ✓ Dubai: launched fully driverless commercial operations, with rides available through the Apollo Go and Uber app. ✓ Abu Dhabi: launched fully autonomous ride-hailing services. ✓ London: began open-road testing in partnership with Uber and Lyft. ✓ Switzerland: conducted open-road testing in partnership with PostBus. South Korea ✓ Entered the South Korean market, starting with the Seoul metropolitan area. ✓ 100% fully driverless operations. ✓ Received Hong Kong’s first permits for fully driverless testing and began testing on Airport Island. Central Asia ✓ Enhanced the autonomous driving system robustness and operational rigor through comprehensive reviews. Cumulative rides2 > 23M
Page 7
AI-native Marketing Services: Broadening Adoption across Markets Digital Human Capabilities Going Global 5 Expanding Use Cases for Digital Human Technology Delivered stronger performance at lower cost, while expanding use cases across e-commerce livestreaming, digital human videos, real-time interaction and video podcasts. E-commerce Livestreaming Overseas digital human platform enabling merchants and creators to easily create localized digital human content for global markets, with support for dozens of languages and culturally adapted scripts and presentation styles. Digital Human Videos Real-time Interactive Digital Humans Video Podcasts
Page 8
Unlocking Long-term Value through AI-powered Growth Strong Balance Sheet > $40B1 Total Cash & Investments Focusing on High-growth Businesses • Leading AI Cloud Infrastructure in China • Kunlunxin: proprietary AI Chips • Global Leader in Robotaxi Services • Comprehensive AI Application Portfolio • Evolving AI-native Marketing Services Continuous Optimization …… • In the process of converting to a dual-primary listing on the Hong Kong Stock Exchange • Continuously enhancing disclosures for greater transparency • Driving operational efficiency • Exploring various shareholder return programs • Unlocking value for both core and non-core businesses Note: 1 Company data as of June 30, 2026. 6