WeWork Investor Presentation Deck

Top 7 Market Cohort Analysis- all locations January 2019 location cohort; Membership and Service revenue and Location Contribution Margin are for 1H 2019 ($mm) 1H 2019 New York London San Francisco Los Angeles Boston Chicago Washington DC Top 7 markets As of June 1, 2019 New York London San Francisco Los Angeles 1H'19 Average 1H'19 Average total Desks memberships Boston Chicago Washington DC Top 7 markets 62.0K 42.2K 21.7K 21.2K 11.7K 10.8K 11.2K 181K Top seven market KPIs as of June 1, 2019 (for reference only) 57.4K 39.1K 19.6K 17.4K 10.9K 8.7K 9.8K 163K 184K Implied Implied Enterprise occupancy membership % 93% 93% 90% 82% 93% 81% 87% Desks Total memberships Occupancy 63.2K 42.7K 21.7K 21.1K 12.8K 10.7K 11.3K 58.6K 40.3K 20.4K 18.3K 11.9K 9.4K 10.1K 90% 169K 93% 94% 94% 87% 93% 88% 89% 92% 23% 26% 57% 22% 51% 35% 20% 30% % Enterprise memberships 23% 26% 57% 22% 51% 35% 20% 30% Membership & service Revenue $235 $172 $87 $59 $36 $26 $32 $646 Location Contribution Margin $36 $28 $27 $11 $9 $9 $3 $122 Location Contribution Margin (%) 15% 16% 31% 18% 25% 34% 9% 19% I Non-cash GAAP straight-line lease cost as a % of membership and service revenue 13% 12% 10% 20% 24% 11% 18% 14% Benefit of non-cash amortization of lease incentives as a % of membership and service revenue Total locations in top seven markets: 156¹ 106 mature (68%) 50 non-mature (32%) (5%) (4%) (4%) (8%) (7%) (8%) (7%) (5%) *Location Contribution Margin includes impact of non-cash straight-line lease cost and benefit of non-cash amortization of lease incentives Note: Enterprises defined as members with 500+ employees; Mature locations defined as locations that have been open for more than 24 months; New York market includes Astoria, Brooklyn, Long Island City; San Francisco includes Berkeley, Emeryville, Mill Valley, Mountain View, Oakland, and San Mateo; Boston includes Cambridge; Los Angeles includes Burbank, Costa Mesa, Culver City, El Segundo, Irvine, Long Beach, Manhattan Beach, Pasadena, Playa Vista, Santa Monica, and West Hollywood; Washington DC includes College Park and McLean. ¹ Total locations in top seven markets as of January 2019; excludes JVs, India, two WeLive locations, and corporate headquarters 35

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