#1FOX S O 222 w D CASO 1 A HU ANTING Q1 2022 Results wework#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 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 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 and the conflict in Ukraine; 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; 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 or as otherwise required by law, 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 1 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 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"), including Adjusted EBITDA and Building 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. 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 Core Values THE RIGHT Work Values TO BE BETTEP the work ValueE GIVE THI R. TOG ♡ Wowork Values NEURI GRATITUR work Valu BE HUMAN S BE KIND Our mission is to empower tomorrow's world at work Do the right thing. Strive to be better, together. Be entrepreneurial. Give gratitude. Be human, be kind. Our Core Constituents -www 直 Sm -000 Colleagues Members Shareholders Partners Society wework ©2022 WeWork#4For all the ways you work, we're here. Systemwide 765 916k LOCATIONS DESKS Consolidated 3 633 LOCATIONS 746k DESKS 626k PHYSICAL MEMBERSHIPS 501k PHYSICAL MEMBERSHIPS 55k ALL ACCESS 55k ALL ACCESS USC LatAm Wholly-owned Note: Metrics presented as of March 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 EMEA Consolidated JVs India China Pacific Japan Unconsolidated Franchises wework Ⓒ2022 WeWork#5The world's top companies trust WeWork amazon citi DRAFT KINGS BLACKROCK NOVARTIS salesforce Johnson & Johnson (GE) Spotify Nasdaq PELOTON IBM airbnb NETFLIX UnitedHealthcare coinbase Goldman Sachs accenture Uber HSBC Note: All figures as of March 2022 and on a consolidated basis unless otherwise noted. 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. 1. As of December 2021. 4 Google Byte Dance ∞ Meta adidas 63% of the Fortune 100 are WeWork members (¹) 46% of physical memberships are enterprise 27k SMB member organizations 2.4k Enterprise member organizations wework Ⓒ2022 WeWork#6WeWork represents an outsized portion of demand Q1 2022 leasing activity Market United States Boston New York Miami San Francisco Europe (4) London Dublin Paris Berlin WeWork Occupancy incl. SNO 64% 68% 67% 97% 71% 80% 76% 86% 77% 87% WeWork Physical Occupancy 63% 65% 66% 92% 69% 77% 72% 86% 73% 83% WeWork as a % of Market Stock (1) ~0.5% ~2% ~1% ~1% ~1% ~0.5% ~1% ~1% ~1% ~0.5% Q1 2022 Traditional Market Square Feet Leased 47m 1,040k 7,200k 830k 1,730k 23k 2,190K 470k 4,050k 1,540k 1. Please refer to "Market Share Methodology and Sources" for additional information on methodology and sources. 2. WeWork leasing activity based on total new desks sold and renewed in each market multiplied by 60 rentable square feet per desk. 3. WeWork's Q1 2022 equivalent percent of traditional leasing activity divided by estimated percent of office stock. 4. Europe excludes Russia, Amsterdam, and Stockholm markets due to lack of available information. 5 Q1 2022 WeWork Square Feet Leased (2) 4.1m 260k 1,250k 70k 300k 2.4k 850k 60k 300k 230k Equivalent % of Q1 Traditional Square Feet Leased (¹) 9% 25% 17% 9% 17% 10% 39% 13% 8% 15% WeWork Q1 Leasing as a Multiple of Market Stock (3) 21x 15x 15x 14x 23x 23x 27x 12x 12x 30x wework Ⓒ2022 WeWork#7Q1 2022 market overview 3. Systemwide gross desk sales (SF sold)(¹) 6 Consolidated gross desk sales (SF sold)(¹) Consolidated new desk sales (SF sold)(¹) Physical occupancy including SNO (2) Enterprise as % of physical memberships Average commitment length All Access memberships (³) Q1 2021 163k (9.8m SF) 120k (7.2m SF) 60k (3.6m SF) 47% 52% 21 mo. 15k Q2 2021 202k (12.1m SF) 156k (9.4m SF) 97k (5.8m SF) 53% 52% 22 mo. 20k Q3 2021 197k (11.8m SF) 153k (9.3 SF) 84k (5.0m SF) 60% 49% 21 mo. 32k Q4 2021 217k (13.0m SF) 164k (9.9m SF) 87k (5.2m SF) 66% 47% 20 mo. 45k Q1 2022 211k (12.7m SF) 166k (10.0m SF) 83k (5.0m SF) 70% 46% 20 mo. Note: See "Terms and Definitions" pages for definitions of gross desk sales, enterprise as % of physical memberships, physical occupancy including sold memberships, and All Access memberships. 1. Assuming 60 square feet per desk sold. 2. Includes an incremental 8k in Q1 2021, 21k in Q2 2021, 30k in Q3 2021, 21k in Q4 2021, and 19k in Q1 2022 net memberships that have been sold and are under contract to move-in in a future period, net of move-outs within the next two months. Q1 and Q2 occupancy represents physical occupancy only. All Access memberships includes 3k other legacy memberships as of Q1 2022. 55k wework Ⓒ2022 WeWork#8WeWork is a separate channel of distribution Physical Occupancy 51% 45% 43% 12/20 International Consolidated US & Canada 3/21 6/21 9/21 12/21 75% 67% 64% 3/22 Physical Membership Monthly ARPM Q4'19 ARPM: $542 $500 Q1'21 Note: See "Terms and Definitions" pages for definitions of Physical Occupancy, Physical Occupancy including SNO and Physical Membership Monthly ARPM. 7 $482 Q2'21 $485 Q3'21 $484 Q4'21 $484 Q1'22 wework Ⓒ2022 WeWork#9WeWork 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 All Access Memberships Revenue ARPM 15k 20k Q1'21 Q2'21 $9m $13m $204 $235 32k 45k Q3'21 Q4'21 $20m $29m $239 $232 Note: See "Terms and Definitions" pages for definition of All Access & Other Legacy Memberships, and for All Access ARPM. All Access memberships includes 3k other legacy memberships as of Q1 2022. 8 55k Q1'22 $36m $235 wework Ⓒ2022 WeWork#10Total Revenue US$ millions $686 9 Q1'19 $756 Q2'19 Space-as-a-Service $869 Q3'19 $919 Q4'19 WeWork Access $988 Q1'20 $814 Q2'20 $741 Q3'20 $666 Q4'20 $598 $9 $589 Q1'21 $593 $13 $580 Q2'21 $661 $20 $641 Q3'21 Note: Space-as-a-Service revenue calculated as total revenue less revenue attributable to All Access & On Demand memberships, Includes unconsolidated location management fee revenue and revenue attributable to our legacy venture businesses. $718 $29 $689 Q4'21 $765 $36 $729 Q1'22 wework Ⓒ2022 WeWork#11Building Margin US$ millions % Building Margin 10 81% $124 Q1'19 21% 83% $138 Q2'19 21% 80% $147 Q3'19 20% 73% $161 Q4'19 19% 67% $113 Q1'20 13% 58% ($2) Q2'20 (0%) 50% ($144) Q3'20 (22%) 45% ($183) Q4'20 (30%) 47% ($209) Q1'21 (36%) 50% ($192) Q2'21 (34%) Note: See "Terms and Definitions" pages for definition of Building Margin, which is a Non-GAAP measure. See "GAAP to Non-GAAP reconciliations" page for reconciliation to GAAP metrics. 1. Consolidated physical occupancy was 67% as of March 2022. Consolidated physical occupancy including signed but not occupied memberships was 70%. 56% ($103) Q3'21 (16%) Building Margin Physical Occupancy 63% ($9) Q4'21 (1%) 67% (1) $34 Q1'22 5% wework Ⓒ2022 WeWork#12Building Margin by market As of March 2022, 42 markets were over 70% physical occupancy, with average physical occupancy of 83% and building margin of 28%. 11 Physical Occupancy Physical Desks % of Capacity Average Occupancy % of March Membership & Services Revenue Building Margin % in March Top Markets by Revenue Contribution 11 10-50% 77k 10% 37% 8% (17%) Tokyo Chicago Minneapolis Johannesburg 42 50-70% 361k 49% 59% 42% 0% New York San Francisco Boston Los Angeles 42 70-100% 308k 41% 83% 50% 28% London Paris Seoul Singapore Note: See "Terms and Definitions" pages for definition of Building Margin, which is a Non-GAAP measure. See "GAAP to Non-GAAP reconciliations" page for reconciliation to GAAP metrics. wework Ⓒ2022 WeWork#13Adj. EBITDA US$ millions Q1'19 12 ($362) Q2'19 ($465) Q3'19 ($577) Q4'19 ($538) Q1'20 ($393) Q2'20 ($397) Q3'20 ($492) Q4'20 ($472) Q1'21 Q2'21 ($446) ($449) Note: See "Terms and Definitions" pages for definition of Adj. EBITDA, which is a Non-GAAP measure. See "GAAP to Non-GAAP reconciliations" page for reconciliation to GAAP metrics. Q3'21 ($356) Q4'21 ($283) Q1'22 ($212) wework Ⓒ2022 WeWork#14Q1 2022 liquidity US$ millions 13 $519M Cash as of 3/31/22 $550M $550M Sr. Secured Notes $1,069M Cash and Commitments $550M Unused LC Capacity (¹) $1,619M Cash and Commitments Incl. Unused LC Capacity(¹) 1. Concurrently with the Fourth Amendment to the 2020 LC Facility, the aggregate size of the LC Facility has been reduced from $1.75 billion to $1.6 billion and the unused LC capacity has been reduced accordingly. wework Ⓒ2022 WeWork#15Capitalization table As of March 31, 2022 $US millions Cash & cash equivalents $1.6B / $1.4B / $1.05B Senior Secured LC Facility $550M $500M Senior Secured Notes (4) JapanCo Debt Total secured debt Senior Unsecured Notes Senior Unsecured Notes (Series II) Senior Unsecured Notes (Series 1) (1) (2) Coupon 14 5.600% 7.500% 2.500% - 3.300% 7.875% 5.000% 5.000% Maturity 2/10/2024 2/12/2024 Various 5/1/2025 7/10/2025 7/10/2025 Amount as of LC Amendment 3/31/22 Impact $519 $350 (3) $350 (3) $32 $32 $669 $550 $1,650 $2,901 $2,382 $350 $350 As Adjusted $869 $350 $32 $382 $669 $550 $1,650 $3,251 $2,382 Total outstanding debt Net outstanding debt 1. As of March 31, 2022, the 2020 LC Facility was scheduled to terminate on February 10, 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. 2. As of March 31, 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 $8.0 million outstanding. 3. The letter of credit under the junior LC tranche of the 2020 LC Facility was issued and drawn in full for the benefit of the Company upon effectiveness of the Fourth Amendment to the Credit Agreement. The impact to cash & cash equivalents does not include fees related to the LC Amendment. 4. 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. The Company has the ability to draw until February 12, 2024. No Senior Secured Notes were issued as of March 31, 2022. wework Ⓒ2022 WeWork#16Company guidance Consolidated operations Q2 2022 Consolidated Revenue Consolidated Adj. EBITDA 15 FY 2022 Consolidated Revenue Consolidated Adj. EBITDA 1. Excludes the impact of foreign exchange rate fluctuations. Prior guidance $775-825 million n/a $3.35 3.50 billion ($400-500) million Revised guidance (¹) $800 825 million ($125 - 175) million $3.40 3.50 billion ($400 - 475) million WeWork reported $765 million of revenue in Q1 2022, above the high-end of the $740 - 760 million guided range#1716 Appendix AN Fose ES TO L DS 31 wework 2022 WeWork.#18Key performance indicators As of Q4'21, Consolidated includes all regions with WeWork locations outside of China, India and Israel China was included in Consolidated KPIs through Q3'20 Israel was included in Consolidated KPIs through Q1'21 . Historical KPIs based on as reported classification in prior periods Physical Desks Consolidated Unconsolidated Global Total Physical Memberships Consolidated Unconsolidated Global Total Physical Occupancy Rate Consolidated Unconsolidated Global Total All Access Memberships All Access Memberships Other Legacy Memberships All Access & Other Legacy Memberships 17 Q1'19 514k 34k 548k 416k 20k 437k 81% 59% 80% 29k 29k Q2'19 569k 36k 604k 472k 25k 496k 83% 69% 82% 31k 31k Q3'19 676k 43k 719k 539k 29k 568k 80% 67% 79% 42k 42k Q4'19 802k 53k 855k 584k 34k 619k 73% 65% 72% 43k 43k Q1'20 916k 57k 973k 611k 40k 650k 67% 70% 67% 42k 42k Q2'20 936k 58k 994k 543k 34k 577k 58% 59% 58% 35k 35k China included in Consolidated. through Q3'20 Q3'20 962k 57k 1,020k 480k 27k 507k 50% 47% 50% 34k 34k Q4'20 865k 166k 1,030k 387k 89k 476k 45% 54% 46% 7k 6k 13k Israel included in Consolidated through Q1'21 Q1'21 804k 160k 963k 378k 97k 475k 47% 61% 49% 10k 5k 15k Q2'21 770k 168k 937k 386k 110k 496k 50% 66% 53% 16k 4k 20k Q3'21 766k 165k 932k 432k 114k 546k 56% 69% 59% 28k 4k 32k Q4'21 746k 166k 912k 469k 121k 590k 63% 73% 65% 42k 4k 45k Q1'22 746k 170k 916k 501k 125k 626k 67% 74% 68% 52k 3k 55k wework Ⓒ2022 WeWork#19Quarterly financial results US$ millions Adj. EBITDA Membership & Services Revenue Other Revenue Total Revenue Location Operating Expenses Pre-Opening Expenses SG&A 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) 18 Q1'19 587 99 $686 (492) (101) (455) ($362) Q1'19 587 1 $585 Q2'19 670 86 $756 (572) (125) (523) ($465) Q2'19 670 357k $547 2 $668 $668 $585 (492) (572) (31) (42) F $124 21% ($461) ($530) $138 21% 409k $545 Q3'19 743 126 $869 (638) (143) (665) ($577) Q3'19 743 2 $741 $741 (638) (44) ($594) $147 20% 462k $534 Q4'19 834 86 $919 (721) (131) (606) ($538) Q4'19 834 0 $834 $834 (721) (48) ($673) $161 19% 513k $542 Q1'20 892 96 $988 55 $814 (794) (825) (79) (74) (476) (343) ($393) ($397) Q1'20 892 $892 $892 (825) (45) ($780) $113 13% Q2'20 759 542k $549 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 Q2¹21 565 Q3'21 627 34 $661 (752) (40) (225) ($356) Q3'21 627 28 $593 (780) (43) (219) ($449) Q2'21 565 1 $564 $625 13 $551 20 $605 (752) (780) (24) (24) ($756) ($728) ($192) ($103) (16%) (34%) 381k 416k $482 $485 2 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 $484 wework Ⓒ2022 WeWork#20GAAP to non-GAAP reconciliation US$ millions Adj. EBITDA 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 Building Margin 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 19 Q1'19 ($267) 5 (378) 125 145 (41) ($411) (48) ($362) Q1'19 ($26) 103 $77 (1) 18 31 $124 Q2'19 ($638) 0 (92) 131 Q3'19 Q4'19 ($1,252) ($1,618) 36 4 136 157 15 199 43 31 59 32 ($524) ($651) (59) (73) ($465) ($577) Q2'19 Q3'19 ($12) ($27) 108 $96 (2) 2 42 $138 121 $94 (2) 11 44 $147 144 177 315 136 127 68 ($615) (77) ($538) Q4'19 ($45) 147 $102 0 11 48 $161 Q4'20 Q1'21 Q2'21 Q3'21 ($1,168) ($2,062) ($923) ($844) Q4'21 ($803) Q1'20 ($556) 9 (465) 194 56 275 3 553 184 494 299 4 68 180 (28) 242 (2) 206 171 16 88 (2) 103 174 (48) 241 23 54 4 4 15 48 4 ($449) ($356) ($283) 4 Q2'20 Q3'20 ($1,110) ($999) 7 6 (2) 76 (38) (105) 196 198 191 81 19 52 280 254 546 12 9 7 22 24 7 29 ($449) ($436) ($527) ($472) ($446) (56) (39) (35) ($393) ($397) ($492) Q1'20 Q2'20 Q3'20 ($99) ($204) ($346) 164 166 174 $65 ($38) ($172) (1) 5 1 3 45 $113 (1) 3 34 ($2) 28 ($144) ($472) ($446) Q4'20 Q1'21 ($382) ($414) 175 ($239) (4) 9 25 ($209) 181 ($201) (3) 1 21 ($183) ($449) ($356) ($283) Q2'21 Q3'21 Q4'21 ($386) ($288) ($201) 170 164 ($215) ($37) (1) (2) 5 1 24 ($192) 162 ($125) (2) 1 24 ($103) 26 ($9) Q1'22 ($504) (1) 147 171 (130) 91 13 1 ($212) ($212) Q1'22 ($147) 158 $11 (3) 2 24 $34 2 wework Ⓒ2022 WeWork#21Terms and definitions Overall Business Definitions: 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 700 WeWork locations. Included in Membership and Services revenue in our consolidated financial statements 20 - 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. - Total Workstations: Represents The Estimated Number Of Workstations Available At Open Locations (May Also Be Referred To As 'Desks' 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 total workstations. Physical Occupancy Including Sold Not Occupied ("SNO") Memberships: 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 total workstations. - Physical Enterprise Membership: represents physical memberships attributable to enterprise members. Enterprise membership percentage represents the percentage of our memberships attributable to these organizations. Physical Membership Average Revenue per Membership ("ARPM"): membership and services revenue less revenue attributable to All Access and OnDemand memberships and unconsolidated management fee revenue, divided by consolidated cumulative physical memberships in the period. Includes Core Leased and Marketplace revenues. - All Access & Other Legacy Memberships: includes All Access monthly subscription memberships and Other Legacy Memberships. Other Legacy Memberships provide user login access to the WeWork member network online or via the mobile app as well as access to service offerings, among other benefits. - All Access Average Revenue per Membership ("All Access ARPM"): All Access Revenue, including revenue from the On Demand product, divided by cumulative consolidated All Access memberships in the period. - 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 on commitment 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#22Terms 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. 21 - 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 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. 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, and legal expenses related to regulatory investigations and litigations arising from the 2019 withdrawn IPO. 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 operating activities less purchase of property, equipment and capitalized software. wework Ⓒ2022 WeWork#23Market share methodology and sources Market United States Boston New York Miami San Francisco Europe London Dublin. Paris Berlin 22 % Market Stock Source as of Q1 2022 Total United States commercial office square footage of 4,390m per Jones Lang LaSalle Total Boston commercial office square footage of 68m per Jones Lang LaSalle Total Manhattan commercial office square footage of 409m per Cushman and Wakefield Total Miami commercial office square footage of 41m per Jones Lang LaSalle Total San Francisco commercial office square footage of 202m per Jones Lang LaSalle Total Europe office square footage of 2,120m for markets in which WeWork operates, excluding Moscow, Amsterdam, and Stockholm per Cushman and Wakefield Total London commercial office square footage of 284m per Cushman and Wakefield Total Dublin commercial office square footage of 46m per Jones Lang LaSalle Total Paris commercial office square footage of 226m per estimate Total Berlin commercial office square footage of 227m per Jones Lang LaSalle Market Square Feet Leased in Q1 2022 Source United States leasing activity of 47m square feet per Jones Lang LaSalle estimate Boston leasing activity of 1.04m square feet per Jones Lang LaSalle estimate Manhattan leasing activity of 7.2m square feet per Cushman and Wakefield estimate Miami leasing activity of 0.83m square feet per Jones Lang LaSalle estimate San Francisco leasing activity of 1.73m square feet per Jones Lang LaSalle estimate Total Europe office leasing of 22.7m square feet for markets in which WeWork operates, excluding Moscow, Amsterdam, and Stockholm per Cushman and Wakefield London leasing activity of 2.19m square feet per Cushman and Wakefield estimate Dublin leasing activity of 0.47m square feet per Jones Lang LaSalle estimate Paris leasing activity of 4.05m square feet per Immostat estimate Berlin leasing activity of 1.54m square feet per Jones Lang LaSalle estimate wework Ⓒ2022 WeWork