WeWork Investor Presentation Deck

As our locations mature, occupancy improvements drive location contribution margin expansion 80% Total Consolidated Occupancy 69% 84% 90% 89% 0-6 7-12 13-24 24+ months months months months Non-cash GAAP straight-line lease cost as a % of membership and service revenue Benefit of non-cash amortization of lease incentives as a % of membership and service revenue Location contribution margin(1) 10% Total Consolidated 15% (5%) 0-6 months 5% 17% 7-12 13-24 24+ months months months (24%) 12% 44% 21% (8%) (4%) (5%) 21% Note: Charts represent 1H'19 figures (1) Defined as membership and service revenue less location operating expenses excluding stock-based compensation; please reference non-GAAP reconciliations in Appendix 4% (5%) Location contribution margin per desk(1) $253 Total Consolidated 0-6 months ($402) $121 $447 7-12 13-24 months months $707 24+ months 14

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