#1wework Company Overview September 2022 For all the ways you work, we're here.#2Disclaimer Forward-Looking Statements Certain 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 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 near and intermediate term 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 liquidity demand; 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; 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. 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 1 weight to this information. 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 Metrics 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. and non-GAAP financial measures of foreign exchange, including ARPM at budgeted foreign exchange rates (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 non-GAAP measures to their most directly comparable GAAP counterparts are included in the Appendix to this presentation. Additionally, 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. We believe that the disclosure of our financial results on a budgeted foreign 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 a spot rate for each of our functional currencies determined early in the 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 and Israel This presentation includes operating metrics (including number of locations, desks, 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 U.S. generally. accepted accounting principles. 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. 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.#43 Our Core Values af DO THE BE 0 RIGHT wowork Values BE BETTER ENTREP Pro Work Value THING GIVE ? Wowork Valiens HUMAN ENEURIAL RATITUD We work Values M BE KIND Polowork Valises Do the right thing. Strive to be better, together. Be entrepreneurial. Give gratitude. Be human, be kind. Our Core Constituents 889 Colleagues IN -0000 Members 200 Shareholders 直 Partners Local Communities#5Our Leadership Team 4 Susan Catalano Chief People Officer Sandeep Mathrani CEO & Chairman Jared DeMatteis Chief Legal Officer Samit Chopra President & COO, International vewor Anthony Yazbeck Global President & COO Lauren Fritts Chief Corporate Affairs & Marketing Officer Melinda Holland President & COO, Americas Peter Greenspan Global Head of Real Estate Doug Smith Head of All Access & Marketplace Andre Fernandez Global CFO Scott Morey Chief Technology Officer Ebbie Wisecarver Head of Design wework Ⓒ2022 WeWork#6Transformed Operating Structure WeWork has overhauled its business operations and cost structure, right-sized its real estate portfolio and refined its value proposition Streamlined Operations and Expenses - Reduced location operating expenses by $600M on an annualized, per square foot basis (1) - Cut SG&A expenses by $1.7B on an annualized, run-rate basis (²) - Divested all non-core businesses 1. As of Q4 2021 compared to Q4 2019 2. As of Q2 2022 compared to Q4 2019 5 DO Optimized Portfolio - Over 230 full lease exits and 460 lease amendments from the beginning of 2020 through Q2 2022 - Achieved an estimated $500M+ in annualized rent savings as a result of our portfolio optimization efforts (1) - Franchise and other management agreements in China, India, Israel and Latin America where local capital and expertise can 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 - All Access memberships reached 62,000 as Enterprise clients and SMBs alike continue strong adoption - Launching technology platform for operators and occupiers to manage their space, becoming a true end-to-end solution for modern workplace needs wework Ⓒ2022 WeWork#7WeWork's Global Footprint Systemwide 777 917k LOCATIONS DESKS Consolidated 6 641 LOCATIONS 749k DESKS 658k PHYSICAL MEMBERSHIPS 528k PHYSICAL MEMBERSHIPS 62k ALL ACCESS 62k ALL ACCESS USC LatAm Wholly-owned EMEA Note: Metrics presented as of June 2022. 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 Pacific Japan Unconsolidated Franchises wework Ⓒ2022 WeWork#8The World's Top Companies Trust WeWork amazon DRAFT KINGS BLACKROCK salesforce Note: Figures as of Q2 2022 7 Johnson & Johnson (GE) Spotify NOVARTIS PELOTON UnitedHealthcare Nasdaq airbnb NETFLIX accenture coinbase Goldman Sachs Uber Google InByte Dance ∞ Meta HSBC adidas 58% of the Fortune 100 are WeWork members 45% of physical memberships are enterprise ~27,000 SMB member organizations ~2,400 Enterprise member organizations wework Ⓒ2022 WeWork#9ESG at WeWork: Core Focus Areas and Priorities 8 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#10Hallens 0 LIVING IN THE DESERT - 20 WeWork's Product Offerings wework Ⓒ2022 WeWork#11WeWork's Three Legs of the Stool WeWork's holistic suite of flexible product offerings will continue to lead the workspace market 10 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 projected 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 wework Ⓒ2022 WeWork#12Space-as-a-Service Product Offerings 11 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 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 wework Ⓒ2022 WeWork#13Space-as-a-Service Our 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 12 All included in WeWork membership fee wework © 2022 WeWork.#14Space-as-a-Service Sales Cycle Our sales cycle has decreased significantly as SMB and Enterprise members demand turn-key solutions on short notice SMB Members 13 Deal Created Negotiations 17 days Deal Won Deal Created Enterprise Members Time to Move In 21 days Negotiations 41 days Deal Won Member Move In Time to Move In 48 days Average Commitment Length 14 months Member Move In Note: Please see Terms and Definitions pages in the appendix for further detail. Sales cycles based on Q3'21 figures. Commitment lengths as of Q2 2022.. Average Commitment Length 25 months wework Ⓒ2022 WeWork#15WeWork Access WeWork Access 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 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 Note: See "Terms and Definitions" pages for definition of All Access & Other Legacy Memberships. 1. All Access revenue inclusive of On Demand 14 All Access Membership Growth Revenue (¹) 15k 20k 32k 45k Q1'21 Q2'21 Q3'21 Q4'21 $9m $13m 55k 62k Q1'22 Q2'22 $45m $20m $29m $36m wework Ⓒ2022 WeWork#16WeWork Workplace WeWork Workplace 15 work An end-to-end software solution that provides companies of all sizes with a universal platform that enables inventory management across assets, seamless employee experiences, and space optimization through insights and analytics. Welcome, John Book a Space Events Location Arrow Tower Floor 1 wework WORKPLACE Announcements Visitors Upcoming Reservation You have an upcoming reservation for today 80 Events Announcements Workspace Desk: Ext: 1008 3/25/2022 Parking Lot Parking lot to be blocked on Monday 04/05/2022 for re-pav..... 3/25/2022 Reduced Property Staff Until further notice, property staff will be limited to e..... Check in Bulletin Board D Marketplace Cancel wework Ⓒ2022 WeWork#17WeWork Workplace A Solution for Enhancing the Employee Experience 16 Dynamic, user-friendly features enable intentional collaboration ● Office, desk, meeting room booking across all assets Enable intentional connection & collaboration with floor map views to see where and when colleagues and teams are in the office ● Multi-day booking ● Microsoft Outlook integration ● Book a group of desks for team collaboration or on behalf of another user ● View company events, announcements & bulletin board Single Sign On (SSO) Submit support tickets Manage visitors wework WORKPLACE Book Space WeWork HO Dask Date WeWork HQ-17th floor- Corporato WW 7/15/2022 n wework WORKPLACE Private Office Meeting Room Undo 0 Keme 20 Next 1 = Manage Space WeWork HQ Select Workspace WeWork HQ-17th floor Corporate WW Approval Not Required Q Actions LCYON 1000 1 ARTIC k wework Ⓒ2022 WeWork#18WeWork Workplace A Solution for Better Managing and Informing Workspace Decisions 17 Universal portfolio management paired with actionable insights and data ● The only tool that integrates WeWork's global footprint into a universal portfolio management platform ● Upload floor plans for owned, leased, and any third party space ● ● ● ● Capacity and overflow management by adjusting booking capacity limits for floors, offices, and rooms Reconfigure floor plans over time to manage spatial zoning, capacity, and overflow Daily and building level insights: Booking, keycard and utilization data View bookings over time by property type, location, zone, or room View busiest days of week by property type and meeting room size ||| Arrow Tower Arrow at WeWork LA Tower | Los Angeles 10000035 n 8 43 189 Home Book a Space Visitors Maintenance Request Manage Employees Manage Inventory Approvals Reports Settings Meeting rooms Desks & Private offices Meeting Room Analytics Filters 80 Leased/Owned Total Meetings 271 100 1-hin wework WORKPLACE Private Coworking 3-Jun 5-Jun Occupancy report Meetings in Leased/owned 107 Coworking Meetings in Private Coworking 98 9-Jun Reservations Over Time by Property Type Shows Reservations as % of Total Meeting Room Hours Available for Each Property Type 11-Jun Meetings in Coworking 66 Meeting Rooms - Busiest Times of Day Shows Reservations as % of Total Hours per Time Slot for All Meeting Rooms by Each Day 17-Jun 19-Jun Leased/Owned Coworking Paul Elvis Ringa Sigma Mars Jupiter 97% 21-Jun 23-Jan 25-Jun 27-Jun Busiest Meeting Rooms Shows Reservations as % of Total Hours Per Room wework Ⓒ2022 WeWork#19AH Jonvert ROOM WeWork's Value Proposition wework Ⓒ2022 WeWork#20Why WeWork Leads the Flexible Market Space Los S Large Addressable Market Multi-trillion dollar global office real estate market with COVID tailwinds for flexible workspace options 1. As of March 2021. 19 Compelling Value Proposition Offering customers flexibility of space and time, portability of cost, and expense savings $ Focused Core Business Model Strong unit economics with reduced risk through increased enterprise presence and longer commitment lengths Significant Competitive Advantage Global infrastructure with $15 billion+ moat of invested capital has created a strong brand and membership base(¹) Future Of Work Opportunity Product innovation and asset-light growth expected to further drive revenue growth and margin Results-driven Leadership Team Proven track record with proven public company experience wework Ⓒ2022 WeWork#21TAM for Space-as-a-Service U.S. Flexible Workspace Penetration as % of 3.5B office supply RSF(¹)(2) 1. 2. 20 2010 CBRE estimate Pre-COVID (Low) JLL high-growth estimate 2% (1) 2020 Pre-COVID (Mid) JLL mid-growth estimate CBRE "Let's Talk About Flex" (2019). Reflects growth of U.S. Rentable Square Footage from year-end 2019 to 2030E. JLL "The impact of COVID-19 on flexible space" (2020). Pre-COVID (High) JLL low-growth estimate Post-COVID 30% (2) 22% (1) 13% (1) 7% (1) 2030 $105B revenue opportunity $77B revenue opportunity $45.5B revenue opportunity 2019: $7B revenue opportunity wework Ⓒ2022 WeWork#22Compelling Value Proposition: The Ultimate Flexibility 21 Space Flexibility Time Flexibility Portability of Cost 1 Desk 메 1 Hour 1 Contract Custom office Multiple years One city to another ● ● • Option to occupy a select number of desks or entire floors Ability to access any workspace via All Access Choice of occupying workspace on an on-demand basis, through a monthly subscription, or long-term contract Ability to move part or all existing commitment to a new market, region, or country wework Ⓒ2022 WeWork#23Future Of Work Opportunity COVID has accelerated flexible workspace trends as businesses face uncertainty around return to work and seek greater flexibility 22 What Businesses Need Today Streamline real estate footprint to optimize cost structure and overhead Maintain productivity, connection, and innovation amidst remote work landscape Ability to "work from anywhere" through new offerings like All Access LA Flexible solutions that can enhance adaptability and sustainability Award-winning measures that prioritize health and safety of employees S an 1828 PLANT SAFETY INTERNATIONAL SOS WORLDWIDE REACH. HUMAN TOUCH wework Ⓒ2022 WeWork#24Key Performance Indicators As of Q2'22, Consolidated includes all regions with WeWork locations outside of China, India and Israel. Historical KPIs based on as reported classification in prior periods Physical Desks Consolidated Unconsolidated Systemwide Physical Memberships Consolidated Unconsolidated Systemwide Physical Occupancy Rate Consolidated Unconsolidated Systemwide 23 All Access Memberships All Access & Other Legacy Memberships Q2'20 936k 58k 994k 543k 34k 577k 58% 59% 58% 35k Q3'20 962k 57k 1,020k 480k 27k 507k 50% 47% 50% 34k Q4'20 865k 166k 1,030k 387k 89k 476k 45% 54% 46% 13k Q1'21 804k 160k 963k 378k 97k 475k 47% 61% 49% 15k Q2'21 770k 168k 937k 386k 110k 496k 50% 66% 53% 20k Q3'21 766k 165k 932k 432k 114k 546k 56% 69% 59% 32k Q4'21 746k 166k 912k 469k 121k 590k 63% 73% 65% 45k Q1'22 746k 170k 916k 501k 125k 626k 67% 74% 68% 55k Q2'22 749k 168k 917k 528k 131k 658k 70% 78% 72% 62k wework Ⓒ2022 WeWork#25Quarterly Financial Results US$ millions Membership & Services Revenue Other Revenue Total Revenue 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) ARPM at Company's Budget FX Rate 1. SG&A exclusive of stock-based compensation and other expenses excluded from Adjusted EBITDA 24 Q2'20 759 55 $814 (794) (74) (343) ($397) Q2'20 759 1 $758 $758 (794) (34) ($760) ($2) 0% 507k $499 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 Q1'22 747 18 $765 (734) (47) (196) ($212) Q1'22 747 3 $744 36 $708 (734) (24) ($710) $34 5% 488k $484 Q2'22 801 14 $815 (734) (38) (177) ($134) Q2'22 801 5 $796 45 $751 (734) (24) ($710) $86 11% 521k $481 $497 wework Ⓒ2022 WeWork#26Cash, Commitments, and Access to Liquidity As of June 30, 2022 (US$ millions) $625M Cash as of 6/30/22 $550M Sr. Secured Notes 1. Covenant capacity includes a minimum of $500 million as of June 2022. $1,175M Cash and Commitments $500M Secured Debt Covenant Capacity (1) $1,675M Cash, Commitments, and Access to Liquidity wework Ⓒ2022 WeWork#2726 Appendix 北 - ITAN 李豐臺 L#28GAAP to non-GAAP reconciliation US$ millions Net loss Income tax (benefit) provision Interest and other (income) expenses, net Depreciation and amortization Restructuring and other related costs Impairment / (gain on sale) of goodwill, intangibles and other assets 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 27 Q2'20 ($1,110) 7 76 196 81 280 12 22 ($436) (39) ($397) Q2'20 ($204) 166 ($38) (1) 3 34 ($2) Q2'20 ($355) (323) ($678) 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) Q4'20 ($1,168) (2) (105) 191 52 546 7 7 ($472) ($472) Q4'20 ($382) 181 ($201) (3) 1 21 ($183) Q4'20 ($439) (192) ($631) Q1'21 ($2,062) 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) Q2¹21 ($618) (42) ($660) Q3'21 ($844) (2) 206 171 16 88 4 5 ($356) ($356) Q3'21 ($288) 162 ($125) (2) 1 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) wework Ⓒ2022 WeWork#29Capitalization Table As of June 30, 2022 $US millions Cash & cash equivalents $1.25B / $1.05B Senior LC Tranche (2) (3) $350M Junior LC Tranche (2) (4) $550M / $500M Senior Secured Notes (5) JapanCo Debt Total secured debt Senior Unsecured Notes Senior Unsecured Notes (Series II) Senior Unsecured Notes (Series 1) Total outstanding debt Net outstanding debt (1) Coupon 28 5.600% 7.688% 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 Amount $625 $350 $25 $375 $669 $550 $1,650 $3,244 $2,619 1. In addition to these amounts, the Company had restricted cash of $7.0 million as of June 30, 2022. 2. Prior to May 10, 2022, the 2020 LC Facility was scheduled to terminate on February 9, 2024 and the commitments thereunder were scheduled to decrease to $1.25 billion beginning on February 10, 2023. On May 10, 2022, the Company executed the Fourth Amendment to the Credit Agreement. As amended, the 2020 LC Facility is subdivided into a $1.25 billion Senior LC Tranche and a $350 million junior LC tranche. The termination date of the Junior LC Tranche is November 30, 2023. The termination date of the Senior LC Tranche, which steps down from $1.25 billion to $1.05 billion in February 2023, is February 9, 2024. 3. As of June 30, 2022, $1.2B of standby letters of credit were outstanding under the 2020 LC Facility. The Company has also entered into various other letter of credit arrangements, the purpose of which is to guarantee payment under certain leases entered into by JapanCo and certain subsidiaries, totaling $4.0 million outstanding. 4. The reimbursement obligations under the Junior LC Tranche bear interest at the ABR (as defined in the Fourth Amendment to the Credit Agreement) plus 5.50% or the Term SOFR Rate (as defined in the Fourth Amendment to the Credit Agreement), with a floor of 0.75%, plus 6.50%, at the WeWork Obligor's option. 5. On December 16, 2021, the Company, WW Co-Obligor Inc. and an affiliate of SoftBank Group Corp. (the "Note Purchaser") entered into an amendment to the Master Senior Secured Notes Note Purchase Agreement that governs the Senior Secured Notes pursuant to which the Note Purchaser agreed to extend its commitment to purchase up to an aggregate principal amount of $500.0 million of the Senior Secured Notes that may be issued by the Company from February 12, 2023 to February 12, 2024. If issued, the Senior Secured Notes will mature on February 12, 2024. Under the terms of the amended Master Senior Secured Notes Note Purchase Agreement, the Company has the ability to issue up to an aggregate principal amount of (i) until February 11, 2023, $550.0 million and (ii) from February 12, 2023 to February 12, 2024, $500.0 million of Senior Secured Notes. No Senior Secured Notes were issued as of June 30, 2022. wework Ⓒ2022 WeWork#30Terms and Definitions Overall Business Definitions: - 29 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. Desks: 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 desks in a given period. Physical Occupancy: is the number of physical memberships divided by the number of desks. - 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 the number of desks. 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 and unconsolidated 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 Desk 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 desk sales now or at a future date. - Gross Desk Sales: Include New Desk 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#31Terms and Definitions (cont'd) Financial Metrics: - 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. 30 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 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 related costs for the teams managing our buildings. O O 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. - 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. 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. wework Ⓒ2022 WeWork