Investor Presentation

Drivers of location contribution margin Location maturity (1) 32% of locations have been open for >24 months Market maturity (2)(3) 43% of locations in Top 7 markets Enterprise membership (3)(4) 25% of locations have >50% enterprise members Location contribution margin as a % of membership and service revenue 10% Total Consolidated 15% (5%) 21% 17% 14% 5% 0-6 months 7-12 months 13-24 months 24+ months Mature locations outside Top 7 markets 24% 19% 32% Mature locations in Top 7 markets Mature locations w/ >50% SMB members Mature locations w/ >50% enterprise members (24%) Non-cash GAAP straight-line lease cost as a % of membership and service revenue 44% 21% 12% 4% 3% 4% 4% 1% Benefit of non-cash lease incentives (8%) (4%) (5%) (5%) (5%) (5%) (5%) (5%) as a % of membership and service revenue Note: Charts represent 1H '19 location contribution margin (1) Based on number of months a location has been open as of June 1, 2019. (2) Includes our seven largest markets by memberships as of June 1, 2017, which represents 29 cities with open locations as of June 1, 2019, including Boston, Los Angeles, Santa Monica, Pasadena, Irvine, Manhattan Beach, Long Beach, Burbank, West Hollywood, Costa Mesa, Culver City, El Segundo, Playa Vista, London, New York, Astoria, Brooklyn, Long Island City, San Francisco, Oakland, Mountain View, San Mateo, Mill Valley, Berkeley, Emeryville, Chicago, Washington, D.C., McLean and College Park. Excludes our corporate headquarters in New York, San Francisco and London, as well as two WeLive locations. (3) Mature locations defined as locations that have been open for greater than 24 months. (4) Enterprises defined as members with 500+ employees 20

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