WeWork Investor Presentation Deck

Building Margin over time Building Margin(¹) and Physical Occupancy 81% 15 21% 83% 80% 73% 21% 20% 19% Building Margin 67% 13% 58% (0%) 50% Physical Occupancy (22%) 45% (30%) 47% 50% 56% (16%) 63% (36%) (34%) Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 (1%) 85% ● 27% Note: Excludes ChinaCo from all historical periods. 1. Building Margin is a non-GAAP measure we define as membership and services revenue, excluding management fees earned at our Unconsolidated Locations, less location operating expenses, before depreciation and amortization, stock-based compensation and certain indirect location operating overhead. Please refer to the appendix for a reconciliation to the closest GAAP metric. Building Margin Definition Membership and services revenue . Adj. location operating expenses: Lease cost Direct other location expenses . ● ● Key Drivers Moving Forward: Continued increase in Physical Occupancy Continued growth in All Access ARPM growth Additional services revenue Operating cost discipline as occupancy continues to improve ● . Monthly fees and incremental services revenue ● Excludes revenues associated with franchise agreements

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