Investor Presentation

Quarterly financial results (US$, millions) Adj. EBITDA Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Membership & Services Revenue $612 $579 $565 $627 $696 $747 $801 $815 $838 Other Revenue 54 19 28 34 21 18 14 2 10 Total Revenue 666 598 593 661 718 765 815 817 848 Total Revenue at Budget FX Rates 771 841 868 905 Location Operating Expenses (813) (809) (780) (752) (729) (734) (734) (729) (711) Pre-Opening Expenses (46) (33) (43) (40) (42) (47) (38) (23) (13) SG&A (1) (279) (201) (219) (225) (230) (196) (177) (170) (150) Adj. EBITDA (472) (446) (449) (356) (283) (212) (134) (105) (26) Building Margin & Physical Membership ARPM Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Membership & Services Revenue $612 $579 $565 $627 $696 $747 $801 $815 $838 Less: Unconsolidated Management Fee Revenue 3 4 1 2 2 3 5 6 4 Adj. Membership & Services Revenue (A) 609 575 564 625 694 744 796 809 834 Less: All Access & On Demand Revenue 9 13 20 29 36 45 47 50 Physical Membership Revenue (B) 609 567 551 605 665 708 751 762 784 Location Operating Expenses (813) (809) (780) (752) (729) (734) (734) (729) (711) Less: Indirect Location Operating Expenses (21) (25) (24) (24) (26) (24) (24) (25) (21) Adj. Location Operating Expenses (C) (792) (784) (756) (728) (703) (710) (710) (704) (690) Building Margin (A - C) (183) (209) (192) (103) (9) 34 86 105 144 % Building Margin Average Physical Memberships (D) (30%) (36%) (34%) (16%) (1%) 5% 11% 13% 17% 397k 378k 381k 416k 458k 488k 521k 532k 543k Physical Membership Monthly ARPM (B/D) ($, ones) Physical Membership Monthly ARPM, Budget FX ($, ones) 512 500 482 485 484 484 481 477 481 488 497 508 514 See "Terms and definitions" page for definitions of Adjusted EBITDA and Building Margin. See "GAAP to non-GAAP reconciliations" page for a reconciliation of Adjusted EBITDA and Building Margin to their most comparable GAAP metric. 1. SG&A exclusive of stock-based compensation and other expenses excluded from Adjusted EBITDA 26 wework © 2023 WeWork

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