#1Q2 2021 RESULTS wework#2Disclaimer Confidentiality and Disclosures This presentation has been prepared for use by WeWork Inc. ("WeWork" or the "Company") and BowX Acquisition Corp. ("BowX") in connection with their proposed business combination. This presentation is for information purposes only and is being provided to you solely in your capacity as a potential investor in considering an investment in BowX and may not be reproduced or redistributed, in whole or in part, without the prior written consent of WeWork and BowX. Neither WeWork nor BowX makes any representation or warranty as to the accuracy or completeness of the information contained in this presentation. The information in this presentation and any oral statements made in connection with this presentation is subject to change and is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment in BowX and is not intended to form the basis of any investments decision in BowX. This presentation does not constitute either advice or a recommendation regarding any securities. You should consult your own legal, regulatory, tax, business, financial and accounting advisors to the extent you deem necessary, and must make your own decisions and perform your own independent investment and analysis of an investment in BowX and the transactions contemplated in this presentation. No Offer This presentation and any oral statements made in connection with this presentation shall neither constitute an offer to sell nor the solicitation of an offer to buy any securities, or the solicitation of any proxy, vote, consent or approval in any jurisdiction in connection with the proposed business combination, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdictions. Investment in any securities described herein has not been approved or disapproved by the SEC or any other regulatory authority nor has any authority passed upon or endorsed the merits of the offering or the accuracy or adequacy of the information contained herein. This communication is restricted by law; it is not intended for distribution to, or use by any person in, any jurisdiction where such distribution or use would be contrary to local law or regulation. Forward-Looking Statements This presentation supersedes and supplements any prior presentation and any oral or written communication with respect to WeWork and its business. This presentation contains "forward-looking statements", including statements about estimated and projected business, operational and financial metrics (including profitability, liquidity and cash flow), plans (including WeWork's five-year strategic and financial plan), goals, targets, objectives and other information for future or recently completed periods. These statements are often, but not always, made through the use of words or phrases such as "may", "should", "could", "predict", "potential", "believe", "will likely result", "expect", "continue", "will", "anticipate", "become", "seek", "estimate", "intend". "aim," "plan", "projection", "would," "outlook" and "goal", or the negative version of those words or phrases or other comparable words or phrases of a future or forward-looking nature. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about WeWork's industry as well as certain assumptions, whether or not identified in this presentation, made by management of WeWork and BowX, many of which, by their nature, are inherently uncertain and beyond our control and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. It is not possible for WeWork and BowX to predict all risks, nor can WeWork and BowX assess the impact of all factors on the business or the extent to which any factor, or combination of factors, including but not limited to the impact of the COVID pandemic, may cause actual results to differ materially from those contained in any forward-looking statements made. You should carefully consider the risks and uncertainties described in the "Risk Factors" section of BowX's registration statement on Form S-1, the proxy statement/prospectus on Form S-4 (the "Proxy Statement") relating to the business combination, which as filed by BowX with the Securities and Exchange Commission (the "SEC") and other documents filed by BowX from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. In light of these risks, uncertainties and assumptions, the future events, estimates, projections, goals, targets, plans and trends discussed in this presentation, and our future levels of activity and performance, may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and neither WeWork nor BowX undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. Neither WeWork nor BowX gives any assurance that either WeWork or BowX will achieve its expectations. 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. Further, no representation is made as to the reasonableness of the assumptions made within or the accuracy or completeness of any projections or modeling or any other information contained herein. Any data on past performance or modeling contained herein is not an indication as to future performance. Neither WeWork nor BowX have independently verified this third-party information. Similarly, other third- party survey data and research reports commissioned by WeWork or BowX, while believed by to be reliable, are based on limited sample sizes and have not been independently verified by WeWork or BowX. In addition, projections, assumptions, estimates, goals, targets, plans and trends of the future performance of the industry in which WeWork operates, and its 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 and BowX. WeWork and BowX assume no obligation to update the information in this presentation. Investors and security holders of BowX and WeWork are urged to read the proxy statement/prospectus and other relevant documents that have been and will be filed with the SEC carefully and in their entirety as and when they become available because they contain important information about the proposed business combination. Investors and security holders will be able to obtain free copies of the Proxy Statement and other documents containing important information about BowX and WeWork through the website maintained by the SEC at www.sec.gov. Copies of the documents filed with the SEC by BowX can be obtained free of charge by directing a written request to BowX at Murray Rode ([email protected]) 2400 Sand Hill Rd Suite 200, Menlo Park, CA 94025. 1 wework Ⓒ2021 WeWork. Confidential.#3Disclaimer (cont'd) Company Projections All projections, estimates, goals, targets, plans, trends or other statements with respect to future results or future events in this presentation are forward-looking statements that are based on WeWork's management estimates and assumptions (including, without limitation regarding average occupancy, estimated expenses, estimated revenues and satisfaction of financing condition), that are inherently subject to significant uncertainties and contingencies, some of which may not materialize or may change, and are subject to risks and uncertainties over which WeWork and BowX have no control or ability to predict. Unanticipated events may occur that could affect the outcome of such projections, estimates, goals, targets, plans, trends and other statements. You must make your own determinations as to the reasonableness of these projections, estimates, goals, targets, plans, trends and other statements and should also note that if one or more estimates change, or one or more assumptions are not met, or one or more unexpected events occur, the performance and results set forth in such projections, estimates, goals, targets, plans, trends and other statements may not be achieved. We can give no assurance as to future operations, performance, results or events. The inclusion of financial projections, estimates and targets in this presentation should not be regarded as an indication that WeWork and BowX, or their representatives, considered or consider the financial projections, estimates and targets to be a reliable prediction of future events. 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"), including Adjusted EBITDA and Adjusted EBITDA margin (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 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. Preliminary Financial Information This presentation includes certain preliminary unaudited financial information for the month of July that is based solely on WeWork's management's estimates, reflecting currently available preliminary information, and remains subject to WeWork's consideration of subsequent events. WeWork's independent registered public accounting firm has not audited or reviewed, and does not express an opinion with respect to, this financial information. WeWork's final consolidated financial results for the three months ended September 30, 2021, may materially differ from the estimates and the interim balances set forth in this presentation. Such estimates constitute forward-looking statements and are subject to risks and uncertainties, including those described under "Forward-Looking Statements." China, India, and Israel In some instances, this presentation includes operating metrics (including number of locations or workstations) relating to WeWork's investments and operations in China, India, and Israel. However, the results of WeWork's operations in China, India, and Israel are not reflected in the WeWork financial statements and projections set forth in this presentation, as such operations are not conducted through consolidated subsidiaries or controlling interests of WeWork. Unless otherwise explicitly specified in this presentation, China, India, and Israel related metrics are excluded from all calculations. Participation in Solicitation WeWork and BowX and their respective directors and executive officers, under SEC rules, may be deemed to be participants in the solicitation of proxies of BowX's shareholders in connection with the proposed business combination. Investors and security holders may obtain more detailed information regarding the names and interests in the proposed business combination of BowX's directors and officers in BowX's filings with the SEC, including BowX's registration statement on Form S-1, which was originally filed with the SEC on July 17, 2020. To the extent that holdings of BowX's securities have changed from the amounts reported in BowX's registration statement on Form S-1, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to BowX's shareholders in connection with the proposed business combination is set forth in the Proxy Statement/prospectus on Form S-4 for the proposed business combination, as filed by BowX with the SEC. Trademarks This presentation contains trademarks, service marks, trade names and copyrights of WeWork and other companies, which are the property of their respective owners. 2 | wework Ⓒ2021 WeWork. Confidential.#4WeWork's network today Leading brand-name flexible workplace provider with global infrastructure in-place to scale as occupancy rebounds GLOBAL CONSOLIDATED (1) 763 LOCATIONS 629 LOCATIONS 937k DESKS 770k DESKS 517k MEMBERSHIPS 406k MEMBERSHIPS 1. As of the end of Q2 2021, "consolidated" regions include all geographies with WeWork locations outside of China, India, and Israel. Global Customer Base amazon FACEBOOK MERCK salesforce CUSHMAN & WAKEFIELD Global Landlord Partners bxp Boston Properties Microsoft Ivanhoé Cambridge accenture Brookfield Properties CIM STARWOOD CAPITAL GROUP The Blackstone Group Google P BANK OF AMERICA FUNO vanke TISHMAN SPEYER 3 wework Ⓒ2021 WeWork. Confidential.#5Office is where Retail was at the turn of the century In 2000, e-commerce sales were 1% of retail sales in the US. By 2020, e-commerce sales had grown to 21% of retail (¹). Flexible Office is still in the early stages of shifting consumer demand I I Innovators "Try it" 3% Early Adopters "Get Ahead" 13% I Early Majority "Stick with the herd" SHIFTING CONSUMER DEMAND² 34% Late Majority "Hold on!" Sources: 1. Based on Digital Commerce 360 estimates. 2. Technology Adoption Lifecycle, Diffusion of Innovations by Everett Rogers - adapted for Retail / e-Commerce. 34% Omnichannel Retail is in the later stages - pure brick-and-mortar strategies have become obsolete Laggards "No way!" 16% 4 | wework Ⓒ2021 WeWork. Confidential.#6Flexible office space was expected to reach critical mass over the next decade; COVID-19 accelerated those expectations U.S. Flexible Workspace Penetration (¹) As a percentage of all 3.5B office supply RSF 30% 20% 10% 0 2010 2015 Pre-Covid (Low) 2.0%¹ 1. CBRE "Let's Talk About Flex" (2019), growth is in terms of US RSF from 2019 (actual) to 2030 (expected) 2. JLL "Covid The impact of COVID-19 on flexible space" (2020) 2020 Pre-Covid (Mid) — Pre-Covid (High) 2025 Post-Covid 30.0% 22.2% 13.3% 6.5% 2030 1 1 1 5 | wework Ⓒ2021 WeWork. Confidential.#7Q2 Sales performance Consolidated operations 98k new desk sales 3. 4. 51% enterprise as a % of total memberships 5.9m square feet sold (¹1) 52% total occupancy(3) 22 mo. average commitment length (2) 57% total occupancy including "signed not occupied" memberships (4) 1. Assuming 60 square feet per desk sold 2. Commitment length represents base contract terms, excluding 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. Including physical memberships and All Access memberships Includes an incremental 40k net memberships that are already contracted to move in by year end as of August 12, bringing total sold memberships to date of 446k. 6 wework Ⓒ2021 WeWork. Confidential.#8WeWork is taking market share Market (1) London New York Paris Boston San Francisco Chicago Los Angeles Miami 1. 2. 3. WeWork as a % Market Stock(2) ~1% ~1% ~2% ~2% ~1% ~0.5% ~0.2% ~1% Market Leasing Activity (sq. ft.) (2) 1,980k 4,400k 1,640k 530k 1,400k 960k 3,400k 850k Ranked from highest to lowest in terms of square feet occupied by WeWork as of Q2 2021. Please refer to "Market Share Methodology and Sources" in the appendix for additional information on methodology and sources. WeWork leasing activity based on total new desks sold and renewed in Q2 2021 in each market multiplied by 60 rentable square feet per desk. WeWork Leasing Activity (sq. ft.)(3) 730k 1,000k 250K 170k 170k 100k 450k 180k % of Market Leasing Activity (3) 37% 23% 15% 32% 12% 11% 13% 21% 7 1 wework Ⓒ2021 WeWork. Confidential.#9All Access All Access offers a proven value proposition that has already seen strong adoption from major Enterprise clients and SMBs alike Proven Demand 20k + All Access & Virtual Memberships as of June 2021 Compelling Value Proposition AD M S Ultimate Flexibility On Demand (pay-as-you-go) or monthly subscription that provides access to global network of locations Drives Occupancy Allows WeWork to drive occupancy beyond physical capacity levels across portfolio based on utilization projections High Margins Significant incremental margins given subscription-based model on top of traditional leased business Distributors & Affinity Partners AMERICAN EXPRESS Uber Y Combinator Brex Vensure Employer Services 8 wework Ⓒ2021 WeWork. Confidential.#10Cushman & Wakefield transaction CUSHMAN & WAKEFIELD X wework The partnership underscores the confidence from the market in both WeWork's business and brand, while adding incremental value to the WeWork balance sheet and providing a new sales channel to drive additional revenue. Note: The material terms of the partnership are non-binding and subject to finalization of definitive documentation. ● ● Portfolio Management: Will enable WeWork to take and operate incremental space from C&W's corporate clients and landlord partners in attractive markets driving additional revenue. Platform: Will enable C&W corporate clients to access WeWork's proprietary platform of workplace management software. Facilities Management Services: C&W to become WeWork's facilities management provider in select regions Strategic Investment: In discussions regarding a potential transaction where C&W would provide up to $150M in a backstop equity facility#11Transformation of the business over the past 18 months Note: Consolidated(1) metrics unless otherwise indicated 1. 2. 3. Locations Square Feet (2) Desks Total Memberships Enterprise as % of Total Memberships SG&A Annualized Rent Savings (3) Q4 2019A 594 41M 687k 628k 42% $823M Note: Reflects end of period figures for each respective period. Consolidated regions for the purposes of this presentation include all geographies outside of India, China, and Israel, consistent with WeWork's consolidated view as of the end of Q2 2021. Approximate square footage calculated by multiplying consolidated workstations by 60 square feet per desk, based on WeWork's average square feet per desk in consolidated regions globally. Estimated annualized base rent savings as a result of renegotiations that have taken place since the beginning of 2020. Includes the impact of any full or partial terminations. Q2 2021A 629 46M 770k 406k 51% $225M -$400M+ 10 | wework Ⓒ2021 WeWork. Confidential.#12Q2 Revenue continues steady upward trajectory $187m April Revenue $197m $209m $215m May Revenue July Revenue (preliminary) June Revenue Revenue of $593 million in Q2 2021 On pace to achieve $650-700 million in Q3 2021 11 1 wework Ⓒ2021 WeWork. Confidential.#13Q2 Financial Results Revenue 1. 2. Adj EBITDA Net Loss Free Cash Flow Cash & Cash Equivalents 2Q 2021A $593M ($449M) ($923M) ($649M) $1.6B (1) 2Q 2020A $882M ($438M) ($1.1B) ($671M) $4.1B (2) Note: Please see "Non-GAAP Supplemental Measures" for more detailed discussion and explanations of the various non-GAAP financial measures cited in this release. Represents cash & cash equivalents as of 6/30/2021. Includes $844 million of available cash on hand and $750 million currently available under WeWork's Senior Secured Notes facility. Represents cash & cash equivalents as of 6/30/2020. Includes approximately $700 million of available cash on hand, $100 million in cash commitments to Japan Co, as well as $2.2 billion in available Senior Unsecured notes and $1.1 billion in available Senior Secured notes facilities. 12 | wework Ⓒ2021 WeWork. Confidential.#14Pro Forma Liquidity $ in millions $844 Cash as of 6/30/21 zailable Sr Secur $750 Available on $1.1B Sr. Secured Notes Facility (1) $1,594 Cash & Unfunded Cash Commitments as of 6/30/21 SPAC (assi $483 SPAC Trust Proceeds. (assuming no redemptions) $800 PIPE Proceeds ($98) Transaction Fees and Related Employee Payments uction P ($750) Reduction of $1.1B Sr. Secured Notes Facility New $55 or Secure $550 New $550M Sr. Secured Notes Facility aper? ($350) Repayment of $350M Secured CP Facility Note: Estimated based on the completion of the de-SPAC transaction. 1. Reflects $750 million currently available under the $1.1 billion in SoftBank Senior Secured Notes. In the event that the Company elects to repay the $350 million currently outstanding under its LC Debt Facility, $1.1B would be available under the SoftBank Senior Secured Notes. $2,229 Pro Forma Cash and Commitments 13 | wework Ⓒ2021 WeWork. Confidential.#15Company Projections: Memberships and Workstation Assumptions Physical Memberships All Access Memberships Core New Leased ARPM Physical Workstations: Physical Occupancy: Total Occupancy: $510 516k 516k 2019A 697k 74% 74% $494 7k 380k 2020A 865k 44% 45% 591k 50k $463 541k 2021E 730k 74% 81% 772k 67k $494 706k 2022E 823k 86% 94% 907k 131k $528 776k 2023E 894k 87% 101% Source: Membership, workstation, occupancy, and ARPM assumptions set forth above were used as inputs in Management Projections filed 8/13/21. Metrics presented are for consolidated operations (all geographies with WeWork locations outside of China, India, and Israel) only. 973k 134k $547 839k 2024E 971k 86% 100% 14 | wework Ⓒ2021 WeWork. Confidential.#16Company Projections: Total Revenue and Adj. EBITDA $ in millions Total Revenue $3,230 $3,210 11 $1,191 $1,464 Source: Management Projections as filed 8/13/21. $4,348 2019A 2020A 1H 2021A 2H 2021E 2022E $5,650 $6,785 2023E 2024E Adj. EBITDA ($1,754) ($895) ($568) $243 ($1,943) 2019A 2020A 1H 2021A 2H 2021E 2022E $1,256 2023E $1,996 2024E 15 wework Ⓒ2021 WeWork. Confidential.#17Market Share Methodology and Sources Market London New York Paris Boston San Francisco Chicago Los Angeles Miami % Market Stock Source as of Q2 2021 Total London commercial office square footage of 276m per Cushman & Wakefield estimate Total Manhattan CBD commercial office square footage of 460m per Jones Lang LaSalle, published July 2021 Total Paris CBD commercial office square footage of 80m per Cushman estimate Total Boston commercial office square footage of 72m per Lincoln Property Company, published July 2021 Total San Francisco commercial office square footage of 80m per Jones Lang LaSalle estimate Total Chicago CBD commercial office inventory of 140m square feet per Cushman & Wakefield Marketbeat Insights, published July 2021 Total Los Angeles commercial office square footage of 190m per Jones Lang LaSalle estimate Total Miami area commercial office inventory of 38.6m square feet per Blanca Commercial Real Estate estimate Market Leasing Activity in Q2 2021 Source London leasing activity of 1.98m square feet per DeVono Cresa Estimate Manhattan leasing activity of 4.4m square feet in Q2 2021 per CoStar Paris CBD estimated take-up of 1,640k square feet per Cushman & Wakefield Estimate Boston CBD leasing activity of 528k square feet per Jones Lang LaSalle estimate San Francisco estimated leasing activity of 1.4m square feet per Jones Lang LaSalle estimate Chicago CBD leasing activity of 961k square feet per Cushman & Wakefield Marketbeat Insights, published July 2021 Los Angeles estimated leasing activity of 3.4m square feet per Jones Lang LaSalle estimate Miami leasing activity of 852k square feet per Blanca Commercial Real Estate estimate 16 wework Ⓒ2021 WeWork. Confidential.#18Use 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"), including Adjusted EBITDA, Free Cash Flow (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 WeWork's 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. 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 Definitions Adjusted Earnings Before Interest Expense, Income Tax, Depreciation, and Amortization ("Adjusted EBITDA") We supplement our GAAP results by evaluating Adjusted EBITDA, a non-GAAP measure. We define "Adjusted EBITDA" as net loss before income tax (benefit) provision, interest and other (income) expense, depreciation and amortization expense, stock-based compensation expense, expense related to stock-based payments for services rendered by consultants, income or expense relating to the changes in fair value of assets and liabilities remeasured to fair value on a recurring basis, expense related to costs associated with mergers, acquisitions, divestitures and capital raising activities, legal, tax and regulatory reserves or settlements, significant legal costs incurred by the Company in connection with regulatory investigations and litigation regarding the Company's 2019 withdrawn initial public offering and the related execution of the SoftBank Transactions, as defined in Note 1 of the Notes to the Condensed Consolidated Financial Statements included in our Quarterly Report, net of any insurance or other recoveries, significant non-ordinary course asset impairment charges and, to the extent applicable, any impact of discontinued operations, restructuring charges, and other gains and losses on operating assets. Free Cash Flow Because of the limitations of Adjusted EBITDA, as noted above, we also supplement our GAAP results by evaluating Free Cash Flow, a non-GAAP measure. Free Cash Flow is defined as cash flow from operating activities less cash purchases of property and equipment, each as presented in the Company's Condensed Consolidated Statements of Cash Flows calculated in accordance with GAAP. Free Cash Flow is both a performance measure and a liquidity measure that provides useful information to management and investors about the amount of cash generated by or used in the business. Free Cash Flow is also a key metric used internally by our management to develop internal budgets, forecasts and performance targets. 17 | wework Ⓒ2021 WeWork. Confidential.#19Other Information Additional Information and Where to Find It This communication relates to a proposed transaction between the WeWork Inc. (the "Company") and BowX Acquisition Corp. ("BowX"). This communication is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of the Company, the combined company or BowX, nor shall there be any sale of any such 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 such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended. BowX has filed a registration statement on Form S-4 (the "S-4 registration statement") with the Securities and Exchange Commission (the "SEC"), which includes a document that serves as a preliminary prospectus and proxy statement of BowX, referred to as a proxy statement/prospectus. After the S-4 registration statement has been declared effective, a proxy statement/prospectus will be sent to all BowX shareholders. BowX also will file other documents regarding the proposed transaction with the SEC. Before making any voting decision, investors and security holders of BowX are urged to read the S-4 registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transaction as they become available because they will contain important information about the proposed transaction. Investors and security holders will be able to obtain free copies of the S-4 registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by BowX through the website maintained by the SEC at www.sec.gov. Participants in Solicitation BowX and its directors and executive officers may be deemed to be participants in the solicitation of proxies from BowX's shareholders in connection with the proposed transaction. A list of the names of the directors and executive officers of BowX and information regarding their interests in the business combination is set forth in BowX's registration statement on Form S-1 (Registration No. 333-239941) originally filed with the SEC on July 17, 2020. Additional information regarding the interests of such persons and other persons who may be deemed participants in the solicitation are contained in the S-4 registration statement and the proxy statement/prospectus. You may obtain free copies of these documents as described in the preceding paragraph. 18 wework Ⓒ2021 WeWork. Confidential.