COMPANY OVERVIEW + Founded in 20101 1S [ESTABLISHED IN KEV MARKETS Revere 840m S3080m —5786nM—SzAGeen cairo 270m Samm SoM $2SPACE AS A SERVICE WHAT WE DO GLOBAL, MACRO TRENDS POWERFUL ECOSYTEM MASSIVE OPPORTUNITY FIRST MOVER ‘We create working and living spaces that are responsive tothe productivity needs and stylistic preferences o! today’s mobile, creative workforce. We te only ‘organized, global, wellcaptalized provider of Space asa Service Mode ‘We are capitalizing on profound changes in technology, demographics and Urbanization - which colectvely ae delving a secular shift toward more flexible, entrepreneurial and collaborative work stves. ‘Our members are connectes through our proptetary, mobile-centrc technology ~ ‘lowing them to extract maximum value frm the WeWork ecosystem. The resuting "WeWork effect is driving accelerating demand for our product (Our Total Addressable Market ~ space and services for individuals and businesses, |s massive anc only small penetration Is needed to generate billions in revenue. We are benefiting from significant network effects and economies of scale, have a ‘four-year head start on competitors who might sant today, and are expanding rapidly. By the end of 2016, ve wil have @ $1Bn revenue run-rate with 34% margins. weworkMILLENIALS ARE REDEFINING THE WORKFORCECREATING FUNDAMENTAL SHIFTS These values are changing consumption patterns, and the wey people work and iv CLUSTERING SHARING ect =e MSTAMMOLTYSEROLOEY-BeMIY. _aeFONNE ARNON HOOKS facebook. as 250 50 so mE a0 a scotty Ya 2 yelp: ane “Bau Elance aeWORK IS CHANGING Freelancing and smali business formation is surging, and projected to accelerate INDEPENDENT WORKFORCE "AS WOFTOTAL US WORKFORCE % 40% 40 MILLION PEOPLE 45 MILLION PEOPLE 60 MILLION PEOPLE 2008 2014 2020 470,000 (OLD WORK. NEW WORK nweprereuil rt opperunile ae ay on your neta need astonCREATING A NEW ECOSYSTEM FOR WORK wework ; jg he ORR, nt iia en Nera ‘mauhu Elance G3 weworkTHE WEWORK EFFECT Stall bac — | 4 = of ew oes ono (EE r tor _ weworkPOWERED BY TECHNOLOGY AT EVERY LAYER weworkFIRST MOVER WITH CRITICAL MASS UNITED STATES INTERNATIONAL 14400 MEMBERS 1500 MEMBERS “ee i x a a BNehi ae haRiT vel 4GROWING RAPIDLY Top line growth is accelerating due to a robust pipeline and rising per member revenue GROWTH HAS ACCELERATED IN 2014 2018 PIPELINE IS FULLY-DEVELOPED i 225% growth rusts ony een fm Pee oe le le ee PP PPEPP III EALPE REPL LSP IEP IOS tenancies awning runes sees Renron an) —Wenb weworkBROADENING MEMBER BASE a FF Fw zi ORs . COG ome aaa wee Mashable yenew rufewum PRONTO! = od Met oe Bifies: ‘sanTHRU mo BuzzFeeo Redbull [ice] a” Elance Mek merex HIRED uw Paterest Microsoft BP Foon tants mapAND A COMPELLING VALUE PROPOSITION In addition to substantial convenience and network value, WeWork offers meaningful financial savings compared to the alternative ANNUAL SPACE COST COMPARISON 'VS. STANDARD OFFICE LEASE ee som SAVINGS ° “roncwvne gees zg yAcmersirsion, OMice Mgnt) aa ae i ‘Oruemet. Parser, Supstes) i mE anes I cee ses a “Membership Fee / Rent Expense weworkWEWORK’S VALUE-ADDED TENANCY oleAND PARTNERSHIPS WITH LEADING GLOBAL LANDLORDS owners give WeWork an inside track to the Strong relationships with leading real est premier real estate portfolios around the WEWORK PARTNERS ITM s B oven tans &S Invesco Us ORNADO aca Care ‘ iso ceon Boston Properties 5 = BD oo SAEW inAND A FULLY PREDICTABLE PIPELINE By leveraging landlord relationships, WeWork is building an Asset Light path toward critical mass in 16 key marke eevee” STE Tee ee on | spematin daniel 5 Boston oe oven ocmonegs.000menoor ‘aos 7 waseinsron De nmi [Bf res cto ce dnp 400 mendes 8 PRUADELEHA 9 ToRONTO 28 cations under are noptatons 8 800 members 40 AMSTERDAM 1 sean 2a 2 mam 16 emu 16 pom : 20 Locations with mutual anced upon Term Sheet W600 members 0 asTIG & PPELNE LOCATIONS (61800 member}ARE DRIVING CAPITAL EFFICIENT DEAL FLOW INET CAPEX PER MEMBER, BY LOCATIONTHE WEWORK OPPORTUNITY / U.S. ONLYACREATIVE MEMBERSHIP rn | t ; i pall Seacvet AGE DISTRIBUTION COMPANY SIZECONNECTED BY A SEAMLESS MOBILE EXPERIENCE and connections WEWORK, [AT YOUR FINGERTIPS. SIGN-UP FOR ‘SERVICES, GRAB LUNCH CHECIAN MESSAGE FELLOW [I GUESTS MEMBERSGROWTH IN MOBILE USAGE Mobile app usage is far outpacing member growth, and the percent of users visiting the app multiple times per month is up sharply ‘3000 7000 000 3000 4000 ° ‘Total MAUSs and Repeat Users. sess Jon Fete Manta ‘Aor Mash Jura Repeat Users uid sug Sept 90% 50% YID September 122% WeWork Members +650% +850% repost MAUSUPCOMING SOCIAL INITIATIVES “=p Lureneasrrourme eencecemenrwmnusrnes Mh. ge’ | sy to help (agal > lawyers) th othersto gathep + Senple option: Heb, Refer or Pos ‘ | 3, PUBLIC PROFILES + Dive $€0 for member + Betior promotion for mem communty and ousideLEVERAGING SCALE TO PROVIDE VALUABLE SERVICES PRODUCTIVITY WELLNESS. Trinet”_ @momofuku FIST EFFICIENCY GENERAL ASSEMBLY fticneck axiom GROWTHSTRONG INTEREST IN SERVICES OFFERINGS gn in August, interest in the WeWork / TriNet tic increase ing up our informatio offering has seen a ‘THNet Qualified Leads 600 450 . A ° lan Febs4 Mor Apr May June augia Sepa wework.AND MONETIZING AGROWING MEMBER BASE oars oF NG $5m pidly growing pla le driving meaningte WEWORK MEMBERSHIP 2008 45000 NEW SEOs ASE Tine” OES Srnnfihs — ink, teens ATT $50 $27m rk Is creating an 206 92000 1 sopity mae OSEXTENDING THE OFFERING BEYOND PHYSICAL MEMBERS The rk Everywhere membership offering leverages WeWork's established platform of ‘community and servi ‘SUPPORTIVE COMMUNITY CURATED SERVICES SPACE WHEN YOU NEED IT jo rcs Ses oa | we" workweliveweliveMAKING CITY LIFE ACCESSIBLE In addition to substantial convenience and network value, WeWork offers meaningful financial savings compared to the alternative ANNUAL HOUSING COST COMPARISON 'VS STANDARD APARINENT LEASE ae $33,800 e000 games te cite, neg ae $21,600 nBroker Foe 20000 $15,000 nn. ‘30,000 Merarti Fee Ret 5000 Weiwe ‘Standard Apertment Lease “reoureowcome $56,000 $76,000NEXT GENERATION COMMUNITIES WeWork's member bast ita to p mixed-use loc CRYSTAL CITY -DC {10 WALL ST-NYC _ October 201 November 2015 {$318mm from Vornado Realy Trust $860.4inm fom Ri it ‘weliveURBAN CAMPUSESTHE WELIVE OPPORTUNITY / US.FIVE-YEAR FORECASTLEADERSHIP & VISION MICHAEL GROSS: Chief Financial Office KAKUL SRIVASTAVA Chief Product Off MIGUEL MCKELVEY ‘& Chief Creative Oftcer Green De oa KIRSTEN NEVILL-MANNING Chief People Orficer 1 Brwstor Peopte Operations, Google LEWFRANKFORT recite Chan & CEO, Coan STEVEN LANGMAN LEW FRANKFORT