WeWork Start Up Pitch Deck

ARE DRIVING CAPITAL EFFICIENT DEAL FLOW Landlords in all geographies are contributing significant capital to bring WeWork to their buildings, allowing the company to scale more quickly and efficiently Net CapEx per Member $12,000 $10,000 $8,000 $6,000 $4.000 $2,000 50 Jan-13 NET CAPEX PER MEMBER, BY LOCATION 2014: $6,000/member 15% less 2013: $7,100/member Jul-13 Jan-14 Jut-14 Jan-15 2015: $3,000/member 50% less Ju-15 Jen-16 MARKET TERMS Landlord pays 50% of CapEx Market Rent No Profit Share 40% Unit EBITDA 22 month payback ASSET LIGHT Landlord pays 75% of CapEx At or below Market Rent 25-50% Profit Share 32% Unit EBITDA 7 month payback wework 16

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