#1wework November 2022 Investor Presentation For all the ways you work, we're here.#2Disclaimer Forward-Looking Statements statements made in this presentation may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These forward looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "pipeline," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Although WeWork Inc. ("WeWork") believes the expectations reflected in any forward-looking statement are based on reasonable assumptions, it can give no assurance that its expectations will be attained, and it is possible that actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks, uncertainties and other factors. Such factors include, but are not limited to, WeWork's ability to refinance, extend, restructure or repay outstanding debt; its indebtedness; its ability to raise capital through equity issuances, asset sales or the incurrence of new debt; retail and credit market conditions; impairments; its current and projected liquidity needs; changes in general economic conditions, including as a result of the COVID-19 pandemic; delays in customers and prospective customers returning to the office and taking occupancy as a result of the COVID-19 pandemic and the emergence of variants leading to a parallel delay in receiving the corresponding revenue; WeWork's expectations regarding its exits of underperforming locations, including the timing of such exits and the ability to retain its members; the impact of foreign exchange rates on our financial performance; and WeWork's inability to implement its business plan or meet or exceed its financial projections. Forward-looking statements speak only as of the date they are made. WeWork discusses these and other risks and uncertainties in its annual and quarterly periodic reports and other documents filed with the U.S. Securities and Exchange Commission. WeWork may update that discussion in its periodic reports, but otherwise takes no duty or obligation to update or revise these forward-looking statements, whether as a result of new information, future developments, or otherwise, except as required by law. Certain Use of Data This presentation contains information concerning WeWork's solutions and WeWork's industry, including market size and growth rates of the markets in which WeWork participates, that are based on industry surveys and publications or other publicly available information, other third-party survey data and research reports commissioned by WeWork and its internal sources. This information involves many assumptions and limitations. There can be no guarantee as to the accuracy or reliability of such assumptions and you are cautioned not to give undue weight to this information. 1 Further, no representation is made as to the reasonableness of the assumptions made by third parties or the accuracy or completeness of any projections or modeling or any other information contained herein. Any data on past performance of WeWork or modeling contained herein is not an indication as to future performance. WeWork has not independently verified any such third-party information. Similarly, other third-party survey data and research reports commissioned by WeWork, while believed by WeWork to be reliable, are based on limited sample sizes and have not been independently verified by WeWork. In addition, projections, assumptions, estimates, goals, targets, plans and trends of the future performance of the industry in which WeWork operates, and WeWork's future performance, are necessarily subject to uncertainty and risk due to a variety of factors, including those described above. These and other factors could cause results to differ materially from those expressed in the estimates made by independent parties and by WeWork. Except as may be required by law, WeWork assumes no obligation to update the information in this presentation. Use of Non-GAAP Financial Measures This presentation includes certain financial measures not presented in accordance with generally accepted accounting principles in the United States ("GAAP"): Adjusted EBITDA, Free Cash Flow, Building Margin. and non-GAAP financial measures of foreign exchange (including on a forward looking basis). These financial measures are not measures of financial performance in accordance with GAAP and may exclude items that are significant in understanding and assessing our financial results. Therefore, these measures should not be considered in isolation or as an alternative to net loss or other measures of profitability, liquidity or performance under GAAP. You should be aware that our presentation of these measures may not be comparable to similarly titled measures used by other companies, which may be defined and calculated differently. WeWork believes that these non-GAAP measures of financial results (including on a forward-looking basis) provide useful supplemental information to investors about WeWork. WeWork's management uses forward-looking non-GAAP measures to evaluate WeWork's projected financials and operating performance. Reconciliations of historical non-GAAP measures to their most directly comparable historical GAAP counterparts are included in the Appendix to this presentation. To the extent that forward-looking non-GAAP financial measures are provided, they are presented on a non-GAAP basis without reconciliations of such forward-looking non-GAAP measures due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations. Non-GAAP Financial Measures of Foreign Exchange We supplement our GAAP financial results by evaluating our performance excluding the effect of foreign exchange or by assessing our performance using the foreign exchange rates that we used to calculate certain forward-looking financial information, to facilitate period-over-period comparisons. We believe that the disclosure of our financial results on a budgeted foreign exchange basis is a useful supplemental measure of operating performance because it facilitates comparison of our current performance to our guidance provided by excluding the effects of foreign currency volatility. We calculate our budgeted foreign exchange results by translating the current quarter functional currency results at our budgeted foreign exchange rate, which is an estimate forward rate for each of our functional currencies determined during the fourth quarter of the prior fiscal year as part of our annual budgeting process. The presentation of financial results on a budgeted foreign exchange basis should be considered in addition to, but not a substitute for, measures of financial performance reported in accordance with U.S. GAAP. India, China, Israel and Common Desk This presentation includes operating metrics (including number of locations, workstation capacity, and memberships) relating to WeWork's investments and operations in China and India, which are not consolidated. Therefore, the results of WeWork's operations in China and India are not reflected in the WeWork financial statements and projections set forth in this presentation on a line-by-line basis, as such operations are not conducted through consolidated subsidiaries or controlling interests of WeWork. In June 2021, WeWork closed a franchise agreement and transferred the building operations and obligations of its Israel locations to the franchisee. Israel results of operations have been included through May 2021, and excluded from subsequent projections. Unless otherwise explicitly specified in this presentation, India, China and Israel related metrics are excluded from all calculations. Trademarks This presentation contains trademarks, service marks, trade names and copyrights of WeWork and other companies, which are the property of their respective owners. Preliminary Financial Information We report our financial results in accordance with GAAP. All projected financial information and metrics in this presentation are preliminary. These estimates are not a comprehensive statement of our financial position and results of operations. There is no assurance that we will achieve our forecasted results within the relevant period or otherwise. Additionally, the timing of the planned exits and the member retention rate set forth in this presentation are estimates. It is possible that all of these exits do not occur during the fourth quarter of 2022, or at all. wework Ⓒ2022 WeWork#3Our mission is to empower tomorrow's world at work. Our purpose is to harness the power of community to make a positive impact on people and the environment. wework#4Our Core Values STRIVE DO THE TO TOG 36 RIGHT ♡ BE Wowork Values ENTREP Frework Value GIVE THI Wowork Villions HUMAN ENEURIAL RATITUD Wwwork Values M BE KIND Pabwork Villions Do the right thing. Strive to be better, together. Be entrepreneurial. Give gratitude. Be human, be kind. Our Core Constituents IN <-0000 Colleagues 200 Members Shareholders 直 Partners Society wework Ⓒ2022 WeWork#5Transformed operating structure WeWork has made significant progress toward overhauling its business operations and cost structure, right-sizing its real estate portfolio and refining its value proposition. 4 Streamlined Operations and Expenses - Reduced location operating expenses - Significantly reduced SG&A expenses - Divested all non-core businesses 00 Optimized Portfolio - Over 240 full lease exits and 480 lease amendments from the beginning of 2020 through Q3 2022, in addition to planned exits - Achieved annualized rent savings as a result of our portfolio optimization effort - Franchise and other management agreements in China, India, Israel and Latin America where local capital and expertise strengthen WeWork's international business Strengthened Value Proposition - Outsized growth vs commercial office market - Sequential growth in occupancy and revenue since April 2021 show continued momentum - Access memberships reached 67,000 as Enterprise clients and SMBs alike continue strong adoption - Launched WeWork Workplace for operators and occupiers to manage their space, a true end-to-end solution for modern workplace needs wework Ⓒ2022 WeWork#6Flex office is at an inflection point in the U.S. and Globally Flex as a % of Commercial Real Estate U.S. Flexible Workspace Penetration of 3.5B total office supply RSF (1) 5 25% Projected share of total flexible workspace market (¹) ~5x Projected increase in revenue by 2030 (2) 2010 2012 2014 2016 2018 2020 2022 2024 2026 2028 JLL High Case TAM: 22.2% JLL Base Case TAM: 13.3% Implied wework: High: 5.6% Base: 3.3% 2030 ▪▪▪▪ 73% of survey respondents in the United States intend to have some type of hybrid-work arrangements as part of their steady state business going forward. In EMEA, the proportion of survey respondents for whom flex space is currently less than 10% of their real estate portfolio is expected to halve in the next two years from 86% to 41%. -CBRE "Office Occupier Sentiment Survey", April 2022 for the United States, May 2022 for EMEA(3) (ii) (iii) Flex Sector Growth Drivers ($ Increasing adoption of hybrid work and rise of the "third workplace" Companies seeking flexibility of lease terms and potential cost savings Innovation in Workplace technology to drive collaboration and optimize RE footprint Sources: CBRE, JLL, and Green Street. 1. Illustrative TAM analysis based on flexible workspace projections for U.S. only. Implied total flexible workspace SQFT based on estimated 2.5% 2020 flexible workspace penetration as percentage of total office space; Total office estimate based on Green Street estimate. 2. Assumes total office market square footage and WeWork flexible workspace market share remains constant in the projection period. Based on projected base case flexible workspace penetration. 3. For the United States and EMEA per CBRE "Office Occupier Sentiment Survey." wework Ⓒ2022 WeWork#7ESG at WeWork: core focus areas and priorities 6 Environmental Improving the planet By embracing sustainable strategies and best practices, we're committed to creating greener, more eco-friendly spaces by: Working to become operationally carbon neutral Prioritizing renewable energy sources Focusing on responsible resource use Encouraging sustainability within our supply chain Social Putting people first Through programs and partnerships focused on learning, health, and opportunity, we aim to positively impact people worldwide by: Providing spaces to underserved communities ● Championing learning and opportunity Promoting health and well-being Supporting our local communities Governance Guided by principles Transparency, accountability, and integrity are our foundation as we strive to build sound operations and an inclusive environment through: Encouraging growth by offering training courses across all levels Living up to our code of conduct and policies Providing meaningful benefits and support programs Embedding inclusion, diversity, equity, and advancement across our business wework Ⓒ2022 WeWork#8P Product Offerings wework Ⓒ2022 WeWork#9WeWork's global footprint(¹) Systemwide 762 887k 668k 68k LOCATIONS WORKSTATION CAPACITY PHYSICAL MEMBERSHIPS ALL ACCESS Consolidated 608 LOCATIONS 8 714k 532k WORKSTATION PHYSICAL MEMBERSHIPS CAPACITY 67k ALL ACCESS USC LatAm Wholly-owned EMEA 1. Metrics presented as of September 30, 2022, taking into account planned building exits. Consolidated metrics include operations in the United States and Canada, Latin America, Europe, Japan, and Pacific regions. Systemwide metrics include consolidated regions as well as India, China, and Israel, which are not consolidated. Israel Consolidated JVs India China Space-as-a-Service Pacific Japan Unconsolidated Franchises wework Ⓒ2022 WeWork#10WeWork's three legs of the stool WeWork's holistic suite of flexible product offerings will continue to lead the workspace market 9 Space-as-a-Service Offering that creates flexibility of space, time, and portability of cost, as companies move away from long-term leases . Proven membership base and occupancy expected to normalize to historical levels Right-sized operations have created operating leverage, a path to profitability and compelling unit economics COVID has accelerated the shift to flexible workspace WeWork Access . All Access offering digitizes WeWork spaces and provides end customers with ultimate flexibility Single membership card allows employees to "Work From Anywhere" Marketplace offering strengthens membership through high-margin, value-add services WeWork Workplace ● End-to-end software solution for managing hybrid work Creates order for both employees and employers alike Enables flexibility without sacrificing connection and culture Facilitates shift from short-term return to office experiments to sustainable, long-term solutions#11Core product offerings 10 Dedicated desk Enjoy your own desk in a shared, private office with access to professional amenities and meeting rooms. Ideal size: 1-5 people Term: Monthly or Annually Private office Have a private office space with access to meeting rooms and professional amenities. Ideal size: 1-20 people Term: Monthly or Annually Office suite v=1p 4M Utilize office space designed for larger teams with available private amenities via add-ons. Ideal size: 20-100+ people Term: Monthly or Annually Space-as-a-Service Full-floor office / building Secure a fully dedicated workspace with private amenities and add your personal branding. Ideal size: 100+ people Term: Monthly or Annually#12Our turnkey solution WeWork provides companies of all sizes a comprehensive and flexible solution that saves money by minimizing up front costs and maximizing the value our membership fee. Traditional office lease costs $ Property $ Utilities $ Design & construction $ FF&E $ Enhanced health & safety measures $ Basic Internet $ Cleaning $ Maintenance $ Security $ Pantry provisions 11 All included in WeWork membership fee Space-as-a-Service we work 2022 WeWork. 15#13The world's top companies trust WeWork Global infrastructure of world-class partnerships and service providers will allow WeWork to scale quickly Members IBM. Uber PELOTON 25 NOVARTIS Google moderna 12 salesforce airbnb Johnson Johnson ORGANON Landlord Partners Blackstone bxp Boston Properties vanke TISHMAN SPEYER Brookfield Properties FUNO STARWOOD CAPITAL GROUP Hines Ivanhoé Cambridge Service Providers Note: Logos used herein are the property of third parties and for informational purposes only and do not imply any endorsement by those companies of WeWork's company or products or vice versa. CUSHMAN & WAKEFIELD CBRE Space-as-a-Service Colliers JLL AVISON YOUNG BLANCA NEWMARK wework Ⓒ2022 WeWork#14WeWork Access Products WeWork On Demand Bookable workspaces around the world by the hour Pay-as-you-go Choose from over 320+ locations in 70+ major cities through the WeWork app. Global locations: 70+ cities Term: Hourly or daily 13 WeWork All Access Monthly membership unlocks 500+ locations worldwide wework. Monthly membership Book workspace through the WeWork app, and unlock access to over 500+ WeWork locations around the world. Global locations: 500+ Term: Monthly All Access Memberships 15k Q1'21 Revenue: $9m 20k Q2'21 $13m 32k Q3'21 $20m 45k Q4'21 $29m 55k 62k Q1'22 Q2'22 $36m $45m Note: See "Terms and Definitions" pages for definition of All Access & Other Legacy Memberships.. All Access revenue inclusive of On Demand. All Access memberships shown on a consolidated basis. All Access memberships presented on a consolidated basis. Access 67k Q3'22 $47m wework Ⓒ2022 WeWork#15WeWork Workplace 14 - wework WORKPLACE wework F 1. As of October 2022.. Manage Space www.g- Enhance the Employee Experience: Dynamic, user-friendly features enable intentional collaboration TEXT Make desks, interior offices, and meeting rooms bookable in WeWork and leased assets Create meaningful connections between team members with floor maps that show where and when colleagues are in the office Book groups of desks for team collaboration for a day or across multiple weeks work Over 100 Member Companies Over 15,000 Unique Licenses (¹) An end-to-end software solution for seamless workspace booking, inventory management across assets, and space optimization through insights and analytics. eventory Approval - & Pepers Setings wwworkplace Healing r Meeting Room Analytics 271 Day Workplace Optimize Workplace Decisions: Universal portfolio management paired with actionable insights Capacity and overflow management by setting criteria for where and when specific teams can book space Daily utilization reporting and building level insights to drive efficient real estate decisions - Fully integrated with WeWork inventory and back-end solutions wework Ⓒ2022 WeWork#16Workplace Signed Deals Over 15,000 Unique Licenses with over 100 Member Companies (¹) ORGANON 15 mindtickle 200 PolyAl Revolut 101 ways SOLICITORS 1. As of October 2022. Logos used herein are the property of third parties and for informational purposes only and do not imply any endorsement for those companies of WeWork's company or products or vise versa. Workplace acre iu INTERNATIONAL UNIVERSITY OF APPLIED SCIENCES wework Ⓒ2022 WeWork#17WeWork's global footprint Extensive global network and scale provide compelling solutions for companies of all sizes A global network and brand... 762 Locations 38 Countries 75% Systemwide Physical Occupancy 1. Taking into account planned building exits. 2. Equity market capitalization as of October 31, 2022. 3.. As of June, 2022 16 PAA ...with scale... 887k Workstation Capacity 2,600 Enterprise 28,000 SMB Unique Organizations $1.8B Equity Market Cap (2) ...and an established member base Space-as-a-Service 668k/68k / 15k Physical Memberships WeWork Access Memberships WeWork Workplace Licenses 48% of Consolidated Physical Memberships are Enterprise 58% of the Fortune 100 are WeWork Members (3) wework Ⓒ2022 WeWork#18AH Jonvert ROOM Quarterly Results wework Ⓒ2022 WeWork#19Q3 2022 market overview Systemwide gross workstation sales (SF sold) (¹) Consolidated gross workstation sales (SF sold)(¹) Physical occupancy at quarter-end for consolidated locations Average commitment length (months) Consolidated All Access and other legacy memberships Q3'20 134k (8.0m SF) 93k (5.5m SF) 50% 20 34k Q4'20 142k (8.5m SF) 105k (6.3m SF) 45% 20 13k Q1'21 163k (9.8m SF) 120k (7.2m SF) 47% 21 15k Q2'21 Q3'21 202k (12.1m SF) 156k (9.4m SF) 50% 22 20k 197k 217k (11.8m SF) (13.0m SF) 153k (9.3 SF) 56% 21 Q4'21 32k 164k (9.9m SF) 63% 20 45k 1. The square foot figure is based upon gross workstation sales multiplied by 60 square feet. 2. Occupancy for mature WeWork locations that have been in operation for at least 18 months or are at least 70% occupied as of September 30, 2022, was 72% - ("Mature Occupancy"). 18 Q1'22 205k 211k 205k (12.7m SF) (12.3m SF) (12.3m SF) 166k (10.0m SF) 67% 20 Q2'22 Q3'22 55k 160k (9.6m SF) 70% 19 62k 162k (9.7m SF) 71% (2) 19 67k wework Ⓒ2022 WeWork#20Geographically diverse revenue streams Regions as a percent of systemwide revenue (¹.2) Unconsolidated China Revenue: 7% Occupancy: 71% India Revenue: 4% Occupancy: 86% Israel Revenue: 2% Occupancy: 90% Common Desk Revenue: 1% Occupancy: 73% US & Canada Revenue: 40% Occupancy: 66% Japan Revenue: 5% Occupancy: 57% UKI Revenue: 14% Occ: 79% EMEA Revenue: 11% Occupancy: 81% Latin America Revenue: 7% Occupancy: 72% Asia Pacific Revenue: 8% Occupancy: 81% Physical Membership ARPM $500 Q1'21 47% $482 Q1'21 $485 $484 Consolidated Physical Occupancy Q2'21 Q3'21 Q4'21 Q2'21 Q3'21 Q4'21 1. Revenue figures shown by region represent that region's revenue during the third quarter 2022 as a percent of total systemwide revenue in the same period. 2. Occupancy figures shown by region are shown as of September 30, 2022. 3. Occupancy for mature WeWork locations that have been in operation for at least 18 months or are at least 70% occupied as of September 30, 2022, was 72% - ("Mature Occupancy"). 19 $488 $484 $497 $481 Q1'22 Q2'22 Q1'22 Q2'22 $508 at Budget FX $477 Q3'22 71% (3) Q3'22 wework Ⓒ2022 WeWork#21Improved portfolio operations As of September 30, 2022, 59 out of 99 consolidated markets were over 70% physical occupancy, with average physical occupancy of 82% and building margin of 27%. Number of Markets Q1 2022 Q2 2022 Q3 2022 Q3 2022 Pro-Forma Physical Occupancy Workstations (Q3) % of Capacity (Q3) % of Revenue (Q3) Building Margin (%, Q3) Select Markets (pro-forma) 11 8 6 0% - 50% 32k 4% 2% (25%) Chicago Minneapolis Portland 5 43 34 34 50% -70% 346k 46% 40% (8%) Tokyo Boston Mexico City 32 45 57 70% - 100% 378k 50% 58% 27% 59 New York City San Francisco 1. EMEA locations above 70% physical occupancy include Paris, Oslo, Prague, Dubai, Abu Dhabi, Brussels, Stockholm, Milan, Madrid, Hamburg, Amsterdam, Munich, Barcelona, Warsaw, and Berlin. 2. Asia Pacific locations above 70% physical occupancy include Busan, Perth, Ho Chi Minh City, Jakarta, Bangkok, Melbourne, Singapore, Seoul, Manila, and Kuala Lumpur. 20 62 London EMEA(1), Asia Pacific (2) Consolidated Total (Q3) # of Markets: 99 Workstation Capacity: 756k Occupancy: 71% Building Margin: 13% wework Ⓒ2022 WeWork#22Building Margin and Occupancy US$ millions Consolidated Physical Occupancy % Building Margin 50% ($144) Q3'20 (22%) 45% ($183) Q4'20 (30%) 47% ($209) Q1'21 (36%) 50% ($192) Q2'21 (34%) 56% ($103) Q3'21 (16%) 63% ($9) Q4'21 (1%) 67% $34 Q1'22 5% 1. Occupancy for mature WeWork locations that have been in operation for at least 18 months or are at least 70% occupied as of September 30, 2022, was 72% - ("Mature Occupancy"). 21 70% $86 Q2'22 11% 71% (1) $105 Q3'22 13% wework Ⓒ2022 WeWork#23WeWork represents an outsized portion of demand Q3 2022 leasing activity Market Boston New York Miami San Francisco London Dublin Paris Berlin WeWork as a % of Market Stock (1) ~1% ~1% ~1% ~1% ~1% ~1% ~1% ~0.5% Q3 2022 Traditional Market Square Feet Leased (¹) 1,600k 7,000k 1,030k 3,270k 2,600k 860k 2,370k 2,760k Q3 2022 WeWork Square Feet Leased (2) 190k 1,040k 1. Please refer to "Market Share Methodology and Sources" for additional information on methodology and sources. 2. WeWork leasing activity based on total new workstations sold and renewed in each market multiplied by 60 square feet per workstation. 22 75k 670k 900k 110k 270k 180k Equivalent % of Q3 2022 Traditional Square Feet Leased (1) 12% 15% 7% 20% 35% 13% 12% 7% WeWork Q3 Leasing as a Multiple of Market Stock 9x 12x 11x 28x 24x 11x 18x 21x wework Ⓒ2022 WeWork#24Cash, commitments, and access to liquidity As of 9/30/22 (US$, millions) $460 Cash and Cash Equivalents $500 (1) Sr. Secured Notes Commitment $960 Cash and Commitments $500 (2 (2) 2. Secured debt covenant capacity under existing debt documents includes a minimum of $500 million as of September 30, 2022. 23 Secured Debt Covenant Capacity $1,460 Cash, Commitments, and Access to Liquidity 1. The Senior Secured Notes commitment is presented as of November 2022. The Senior Secured Notes commitment amount was updated to $500 million upon effectiveness of the extension of the commitment to March 2025 signed in November 2022. wework Ⓒ2022 WeWork#25Capitalization table As of September 30, 2022 $US millions Cash & cash equivalents $1.25B / $1.05B Senior LC Tranche $350M Junior LC Tranche $500M Senior Secured Notes Commitment (2) JapanCo Debt (3) Total secured debt Senior Unsecured Notes Senior Unsecured Notes (Series II) Senior Unsecured Notes (Series I) Total outstanding debt Net outstanding debt Coupon 5.600% 9.593% 7.500% 2.500% - 3.300% 7.875% 5.000% 5.000% Maturity 2/9/2024 11/30/2023 2/12/2024 Various 5/1/2025 7/10/2025 7/10/2025 1. The senior secured letter of credit facility reduces from $1.25 billion to $1.05 billion in February 2023. 2. In November 2022, the Company entered into an amendment to the purchase agreement providing for the Senior Secured Notes commitment pursuant to which, among other things and subject to the terms and conditions set forth therein, upon effectiveness of the amendment in accordance with its terms, (i) the Senior Secured Notes commitment (and the maturity date of the Senior Secured Notes, if drawn) was extended to March 15, 2025 and (ii) the commitment amount was updated to $500 million. As of September 30, 2022, the commitment under the existing Senior Secured Notes purchase agreement remained undrawn and no Senior Secured Notes were outstanding. 3. Represents [outstanding letters of credit]/[indebtedness] incurred by a joint-venture entity equally owned by the Company and an affiliate of SoftBank Group Corp. 24 Amount $460 $350 $22 $372 $669 $550 $1,650 $3,241 $2,781 wework Ⓒ2022 WeWork#26Company Guidance Consolidated Revenue Consolidated Adj. EBITDA Adj. EBITDA Attributable to WeWork Q4 2022 $870 - $890 million $(65) $(85) million $(55) - $(75) million Full Year 2022 $3.35 $3.37 billion $(515) - $(535) million $(435) $(455) million - Note: guidance for the fourth quarter and full year 2022 excludes the impact of fluctuations in foreign currency exchange rates from the Company's original budgeted foreign currency exchange rates. 25 wework Ⓒ2022 WeWork#2726 Appendix UMJ#28Key performance indicators As of September 30, 2022, Consolidated operations consist of all locations outside of China, India, Israel and Unconsolidated Common Desk locations. Physical Workstations (000s) Consolidated Unconsolidated Systemwide Total Physical Memberships (000s) Consolidated Unconsolidated Systemwide Total Physical Occupancy Consolidated Unconsolidated Systemwide Total Consolidated All Access Memberships (000s) All Access & Other Legacy Memberships China included in Consolidated through Q3'20 Q3'20 962 57 1,020 480 27 507 50% 47% 50% 34 Q4'20 865 166 1,030 387 89 476 45% 54% 46% 13 Israel included in Consolidated through Q1'21 Q1'21 804 160 963 378 97 475 47% 61% 49% 15 Q2'21 770 168 937 386 110 469 50% 66% 53% 20 Q3'21 766 165 932 432 114 546 56% 69% 59% 32 Q4'21 746 166 912 469 121 590 63% 73% 65% 45 Q1'22 746 174 920 501 128 628 67% 73% 68% 55 1. The information presented assumes the planned exits all occurred on September 30, 2022. 2. Occupancy for mature WeWork locations that have been in operation for at least 18 months or are at least 70% occupied as of September 30, 2022, was 72%. 3. Occupancy for mature WeWork locations that have been in operation for at least 18 months or are at least 70% occupied as of September 30, 2022, taking into account planned exits, was 76%. 27 Q2'22 749 172 922 528 133 661 70% 77% 72% 62 Q3'22 756 173 928 536 135 671 71% (2) 78% 72% 67 Q3'22 Pro-Forma of Exits (1) 714 173 887 532 135 668 75% (3) 78% 75% 67 wework Ⓒ2022 WeWork#29Quarterly financial results (US$, millions) Adj. EBITDA Membership & Services Revenue Other Revenue Total Revenue Total Revenue at Budget FX Rates Location Operating Expenses Pre-Opening Expenses SG&A (1) Adj. EBITDA Building Margin & Physical Membership ARPM Membership & Services Revenue Less: Unconsolidated Management Fee Revenue Adj. Membership & Services Revenue (A) Less: All Access & On Demand Revenue Physical Membership Revenue (B) Location Operating Expenses Less: Indirect Location Operating Expenses Adj. Location Operating Expenses (C) Building Margin (A - C) % Building Margin Average Physical Memberships (D) Physical Membership Monthly ARPM (B / D) ($, ones) Q3'20 $665 76 741 (836) (60) (338) (492) Q3'20 $665 1 665 665 (836) (28) (808) (144) (22%) 439k 505 Q4'20 $612 54 666 (813) (46) (279) (472) Q4'20 $612 3 609 609 (813) (21) (792) (183) (30%) 397k 512 Q1'21 $579 19 598 (809) (33) (201) (446) Q1'21 $579 4 575 9 567 (809) (25) (784) (209) (36%) 378k 500 Q2'21 $565 28 593 (780) (43) (219) (449) Q2'21 $565 1 564 13 551 (780) (24) (756) (192) (34%) 381k 482 Q3'21 $627 34 661 (752) (40) (225) (356) Q3'21 $627 2 625 20 605 (752) (24) (728) (103) (16%) 416k 485 Q4'21 $696 21 718 (729) (42) (230) (283) Q4'21 $696 2 694 29 665 (729) (26) (703) (9) (1%) 458k 484 Q1¹22 $747 18 765 771 (734) (47) (196) (212) Q1'22 $747 3 744 36 708 (734) (24) (710) 34 5% 488k 484 Q2'22 $801 14 815 841 (734) (38) (177) (134) Q2'22 $801 5 796 45 751 (734) (24) (710) 86 11% 521k 481 See "Terms and definitions" page for definitions of Adjusted EBITDA and Building Margin. See "GAAP to non-GAAP reconciliations" page for a reconciliation of Adjusted EBITDA and Building Margin to their most comparable GAAP metric. 1. SG&A exclusive of stock-based compensation and other expenses excluded from Adjusted EBITDA 28 Q3'22 $815 2 817 868 (729) (23) (170) (105) Q3'22 $815 6 809 47 762 (729) (25) (704) 105 13% 532k 477 wework Ⓒ2022 WeWork#30GAAP to non-GAAP reconciliation (US, millions) Q1'21 ($2,062) Q4'20 ($1,168) (2) (105) 191 52 546 Net loss Income tax (benefit) provision Interest and other (income) expenses, net Depreciation and amortization Restructuring and other related costs Impairment expense Stock-based compensation expense Other, Net Adj. EBITDA Less: ChinaCo Adj. EBITDA Adj. EBITDA Excluding ChinaCo Location Gross Profit / (Loss) Including Depreciation & Amortization Depreciation and amortization Location Gross Profit / (Loss) Exclusive of Depreciation & Amortization Unconsolidated management fee revenue Stock-based compensation expense Indirect location operating expenses Building Margin Net cash provided by (used in) operating activities Purchase of property, equipment and capitalized software Free Cash Flow 29 Q3'20 ($999) 6 (38) 198 19 254 9 24 ($527) (35) ($492) Q3'20 ($346) 174 ($172) (1) 1 28 ($144) Q3'20 ($249) (274) ($523) 7 7 ($472) ($472) Q4'20 ($382) 181 ($201) (3) 1 21 ($183) Q4'20 ($439) (192) ($631) 3 553 184 494 299 54 29 ($446) ($446) Q1'21 ($414) 175 ($239) (4) 9 25 ($209) Q1'21 ($541) (129) ($670) Q2'21 ($923) 4 68 180 (28) 242 4 4 ($449) ($449) Q2'21 ($386) 170 ($215) (1) 1 24 ($192) Q2'21 ($618) (42) ($660) Q3'21 ($844) (2) 206 171 16 88 4 5 ($356) ($356) Q3'21 ($288) 162 ($125) (2) 24 ($103) Q3'21 ($380) (61) ($441) Q4'21 ($803) (2) 103 174 (48) 241 48 4 ($283) ($283) Q4'21 ($201) 164 ($37) (2) 5 26 ($9) Q4'21 ($373) (105) ($478) Q1'22 ($504) (1) 147 171 (130) 91 13 1 ($212) ($212) Q1'22 ($147) 158 $11 (3) 2 24 $34 Q1'22 ($338) (74) ($412) Q2'22 ($635) 3 316 158 (26) 36 13 1 ($134) ($134) Q2'22 ($85) 150 $65 (5) 2 24 $86 Q2'22 ($197) (101) ($298) Q3'22 ($629) 3 290 156 (34) 97 13 (1) ($105) ($105) Q3'22 ($63) 148 $85 (6) 1 25 $105 Q3'22 ($110) (95) ($205) Ⓒ2022 WeWork#31GAAP to non-GAAP reconciliation, continued (us, millions) Net loss Income tax (benefit) provision Interest and other (income) expenses, net Depreciation and amortization Restructuring and other related costs Impairment expense Stock-based compensation expense Other, net Adj. EBITDA Attributable to noncontrolling interests WeWork's share of Adj. EBITDA from unconsolidated investments Adj. EBITDA Attributable to WeWork Three Months Ended 30 9/30/22 ($629) 3 290 156 (34) 97 13 (1) (105) 17 2 ($86) See "Terms and definitions" page for definitions of Adjusted EBITDA and Adjusted EBITDA Attributable to WeWork. 9/30/21 ($844) (2) 206 171 16 88 4 5 (356) 23 (1) ($334) Nine Months Ended 9/30/22 ($1,768) 5 753 485 (190) 224 39 1 (451) 67 4 ($380) 9/30/21 ($3,829) 5 828 535 482 629 62 37 (1,251) 52 ($1,206) wework Ⓒ2022 WeWork#32Terms and definitions Overall Business Definitions: - 31 Space-as-a-Service: WeWork's existing flexible workspace business, including incremental growth for WeWork's flexible workspace business. Includes revenues associated with asset-light management or franchise agreements with landlords where WeWork operates the space in exchange for a fee. Included in Membership and Services revenue in our consolidated financial statements. - WeWork Access: On Demand pay-as-you-go or All Access monthly membership providing an individual with access to over 500 WeWork locations. Included in Membership and Services revenue in our consolidated financial statements - WeWork Workplace: turnkey third-party flexible workspace management solution leveraging WeWork's property and technology platform. - SMB: organizations with less than 500 full-time equivalent employees Enterprise: organizations with greater than 500 full-time equivalent employees Operating KPIs: - Locations: represents the estimated number of open locations. A location is considered open when it begins to generate revenue. - Workstation Capacity: Represents the estimated number of workstations available at open locations (may also be referred to as 'Workstations' or 'Physical Workstations'). Physical Memberships: The number of WeWork physical memberships which is the number of occupied workstations in a given period. Physical Occupancy: is the number of physical memberships divided by workstation capacity. - Mature Occupancy: is the number of physical memberships in mature buildings divided by workstation capacity in mature buildings. Mature buildings have been open for at least 18 months or are at least 70% occupied as of the date of the figure.. Committed Occupancy: physical memberships in addition to net memberships that have been sold and are contracted to move-in in a future period or move out within the next two months, divided by workstation capacity. Physical Enterprise Membership: represents physical memberships attributable to enterprise members. Enterprise membership percentage represents the percentage of our memberships attributable to these organizations. Physical Average Revenue per Membership ("ARPM"): membership and services revenue less revenue attributable to All Access and On Demand memberships, unconsolidated management fee revenue and workplace management fee revenue, divided by consolidated cumulative physical memberships in the period. Budget Foreign Exchange Rate ARPM: membership and services revenue less revenue attributable to All Access and On Demand memberships and unconsolidated management fee revenue, calculated using the Company's budgeted foreign exchange rates, divided by consolidated cumulative physical memberships in the period. - All Access & Other Legacy Memberships: includes All Access monthly subscription memberships and Other Legacy Memberships. - New Workstation Sales: new members that have signed a contract for now or at a future move-in date and existing members who have signed a contract resulting in additional workstation sales now or at a future date. - Gross Workstation Sales: Include New Workstation Sales and renewals. Renewals include all members previously committed who continue their membership on a commitment. Renewals do not include month-to-month members. Average Commitment Length: represents base contract terms in months. This excludes the impact of any extension and / or termination options. The commitment lengths disclosed may include periods for which members have an option to terminate their commitments with a less than 10% penalty. wework Ⓒ2022 WeWork#33Terms and definitions (cont'd) Financial Metrics: Systemwide Revenue: systemwide location membership and service revenues represents the results of all locations regardless of ownership, including Consolidated and Unconsolidated Locations. 32 - - Location Operating Expenses: include the day-to-day costs of operating an open location and exclude pre-opening costs, depreciation and amortization and sales and marketing, which are separately recorded. O Lease Cost: is recognized on a straight-line basis over the life of the lease term in accordance with GAAP and is the most significant component of location operating expenses O Direct Other Location Expenses: include utilities, ongoing repairs and maintenance, cleaning expenses, office expenses, security expenses, credit card processing fees and food and beverage costs. Direct location operating expenses also include personnel and relate costs for the teams managing our buildings. Indirect Other Location Expenses: include certain expenses that are necessary to operate our buildings but not directly tied to an individual building. Examples of these expenses include certain regional management and teams managing member relations, new member sales and facilities management. O Pre-Opening Expense: consist of expenses (including all lease costs, which also include non-cash GAAP straight-line lease cost) incurred before a location opens for member operations. Excludes depreciation and amortization expense and stock-based compensation expense. - SG&A: consist of sales and marketing, general and administrative and sourcing, development and other expenses, and certain community support expenses that are necessary to operate our buildings but not directly tied to an individual building. Excludes depreciation and amortization expense, stock-based compensation expense, expense related to stock-based payments for services rendered by consultants, expense related to costs associated with mergers, acquisitions divestitures, and capital raising activities, legal, tax, and regulatory reserves or settlements. Building Margin: is a non-GAAP measure we define as membership and services revenue, excluding management fees earned at our Unconsolidated Locations, less location operating expenses, before depreciation and amortization, stock-based compensation and certain indirect location operating overhead expenses. Adj. EBITDA: is a non-GAAP measure we define as net loss before income tax (benefit) provision, interest and other (income) expenses, net, depreciation and amortization expense, restructuring and other related cost, impairment /(gain on sale) of goodwill, intangibles and other assets, stock-based compensation expense, stock-based payments for services rendered by consultants, change in fair value of contingent consideration liabilities, legal, tax and regulatory reserves and settlements, legal costs incurred by the Company in connection with regulatory investigations and litigation, and expenses related to costs associated with mergers, acquisitions, divestitures and capital raising activities. Adj. EBITDA Attributable to WeWork: is a non-GAAP measure we define as Adj. EBITDA excluding noncontrolling interest stakes in JapanCo, LatamCo and other subsidiaries and including WeWork's share of Adj. EBITDA from unconsolidated investments. - Free Cash Flow: is a non-GAAP measure we define as net cash provided by (used in) operating activities less purchases of property, equipment and capitalized software, each as presented in the Company's condensed consolidated statements of cash flows and calculated in accordance with GAAP. wework Ⓒ2022 WeWork#34Market share methodology and sources Market Boston New York Miami San Francisco London Dublin Paris Berlin 33 Market Stock as of Q3 2022 Source Total Boston commercial office square footage of 83m per CBRE Total Manhattan commercial office square footage of 411m per Cushman and Wakefield Total Miami commercial office square footage of 40m per Cushman and Wakefield Total San Francisco commercial office square footage of 210m per Jones Lang LaSalle Total London commercial office square footage of 284m per Cushman and Wakefield (as of Q2 2022) Total Dublin commercial office square footage of 48m per Colliers Total Paris commercial office square footage of 226m per estimate Total Berlin commercial office square footage of 233m per Jones Lang LaSalle Market Square Feet Leased in Q3 2022 Source Boston leasing activity of 1.6m square feet per CBRE estimate Manhattan leasing activity of 7.0m square feet per Cushman and Wakefield estimate Miami leasing activity of 1.03m square feet per Cushman and Wakefield estimate San Francisco leasing activity of 3.27m square feet per Jones Lang LaSalle estimate London leasing activity of 2.60m square feet per CBRE estimate Dublin leasing activity of 0.86m square feet per Colliers estimate Paris leasing activity of 2.37m square feet per Immostat estimate Berlin leasing activity of 2.76m square feet per CBRE estimate wework Ⓒ2022 WeWork