NOAH HOLDINGS LIMITED ANNOUNCES UNAUDITED FINANCIAL RESULTS FOR THE FIRST QUARTER OF 2026

SINGAPORE , May 27, 2026 /PRNewswire/ -- Noah Holdings Limited ("Noah" or the "Company") (NYSE: NOAH ), a leading and pioneer wealth management service provider offering comprehensive one-stop advisory services on global investment and asset allocation primarily for global Chinese high-net-worth investors, anno unced its unaudited financial results for the first quarter of 2026. FIRST QUARTER 2026 FINANCIAL HIGHLIGHTS Net revenues for the first quarter of 2026 were RMB625.8 million (US$90.7 million), a 1.8% increase from the corresponding period in 2025, primarily due to an increase in performance-based income from domestic private secondary products, partially offset by a decrease in one-time commissions from insurance products, and a 14.7% decrease quarter-on-quarter, primarily due to a decrease in performance-based income from overseas private equity products as compared with the fourth quarter of 2025. Income from operations for the first quarter of 2026 was RMB236.4 million (US$34.3 million), a 27.1% increase from the corresponding period in 2025, primarily due to disciplined cost control on employee compensation. Net income attributable to Noah shareholders for the first quarter of 2026 was RMB124.7 million (US$18.1 million), a 16.3% decrease from the corresponding period in 2025, primarily due to a higher loss from equity in affiliates, partially offset by lower operating costs and expenses. Non-GAAP [1] net income attributable to Noah shareholders for the first quarter of 2026 was RMB133.9 million (US$19.4 million), a 20.7% decrease from the corresponding period in 2025. FIRST QUARTER 2026 OPERATIONAL UPDATES The Company reports its operational performance across six business segments — three domestic and three overseas — plus headquarters. The following updates provide segment-specific operating metrics and developments during the first quarter of 2026. Group