Q2 2022 Results

Quarterly financial results US$ millions Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Membership & Services Revenue Other Revenue Total Revenue Location Operating Expenses 759 665 612 579 565 627 696 747 801 55 76 54 19 28 34 21 18 14 $814 $741 $666 $598 $593 $661 $718 $765 $815 (794) (836) (813) (809) (780) (752) (729) (734) (734) Pre-Opening Expenses SG&A (1) (74) (60) (46) (33) (43) (40) (42) (47) (38) (343) (338) (279) (201) (219) (225) (230) (196) (177) Adj. EBITDA ($397) ($492) ($472) ($446) ($449) ($356) ($283) ($212) ($134) Building Margin & Physical Membership ARPM Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Membership & Services Revenue 759 665 612 579 565 627 696 747 801 Less: Unconsolidated Management Fee Revenue 1 1 3 4 1 2 2 3 5 Adj. Membership & Services Revenue (A) $758 $665 $609 $575 $564 $625 $694 $744 $796 Less: All Access & On Demand Revenue Physical Membership Revenue (B) 9 13 20 29 36 45 $758 $665 $609 $567 $551 $605 $665 $708 $751 Location Operating Expenses (794) (836) (813) (809) (780) (752) (729) (734) (734) Less: Indirect Location Operating Expenses (34) (28) (21) (25) (24) (24) (26) (24) (24) Adj. Location Operating Expenses (C) ($760) ($808) ($792) ($784) ($756) ($728) ($703) ($710) ($710) Building Margin (A - C) % Building Margin ($2) ($144) ($183) ($209) ($192) ($103) ($9) $34 $86 0% (22%) (30%) (36%) (34%) (16%) (1%) 5% 11% Average Physical Memberships (D) Physical Membership Monthly ARPM (B/D) 507k 439k 397k 378k 381k 416k 458k 488k 521k $499 $505 $512 $500 $482 $485 $484 $484 $481 ARPM at Company's Budget FX Rate 1. SG&A exclusive of stock-based compensation and other expenses excluded from Adjusted EBITDA 17 $497 we work ©2022 WeWork

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