WeWork SPAC Presentation Deck
2020: Optimized cost structure and core business
2.
~$1.1B
Functional Expense Savings(1)
3.
$200M+
Savings from 200+ Lease
Exits and Amendments(3)
~$400M
OpEx Savings (2)
//FLATIRON
SCHOOL
Space IQ
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Exited Non-Core Businesses
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conductor
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Meetup
Source: Management Projections.
1.
Represents the difference in annualized functional expenses from Q4 2019 to Q4 2020. Expenses reflect adjusted functional expense and includes general and administrative, sales and marketing, sourcing and
development, and other. Excludes stock based compensation and ventures expenses.
Calculated based on full year location operating expenses (including rent, tenancy and building expenses) per USF reduction from Q4'19 to Q4'20 multiplied by Q4 2020 USF. Savings of $400M mainly due to reduced foot
traffic, restructuring of WeWork's community team and ongoing rent renegotiations in 2020. Location operating expense savings calculation excludes stock based compensation, community support and venture expenses.
Lease restructurings and renegotiations as of January 2021. Savings include rent and tenancy.
SPACIOUS
15 | wework
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