Table of Contents WEWORK COMPANIES INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) Six Months Ended June 30, (Amounts in thousands, except share and per share amounts) 2018 2019 Revenue (including related party revenue of $3,885 and $75,865 in 2018 and 2019, respectively. See Note 22) $ 763,771 $ 1,535,420 Expenses: Location operating expenses (exclusive of depreciation and amortization shown separately below) 635,968 1,232,941 Other operating expenses (exclusive of depreciation and amortization shown separately below) 42,024 81,189 Pre-opening location expenses 156,983 255,133 Sales and marketing expenses 139,889 320,046 Growth and new market development expenses 174,091 369,727 General and administrative expenses (including stock-based compensation of $10,546 and $111,161 in 2018 and 2019, respectively.) 155,257 389,910 Depreciation and amortization 137,418 255,924 Total expenses (including related party expenses of $3,845 and $14,208 in 2018 and 2019, respectively. See Note 22) 1,441,630 2,904,870 Loss from operations (677,859) (1,369,450) Interest and other income (expense), net: Income (loss) from equity method and other investments 878 (2,558) Interest expense (including related party interest expense of $(1,021) and $(7,447) in 2018 and 2019, respectively. See Notes 13 and 22) (20,118) (51,841) Interest income 16,255 33,892 Foreign currency gain (loss) (43,421) 4,271 Gain from change in fair value of related party financial instruments (See Note 13) — 486,151 Total interest and other income (expense), net (46,406) 469,915 Pre-tax loss (724,265) (899,535) Income tax benefit (provision) 1,373 (5,117) Net loss (722,892) (904,652) Net loss attributable to noncontrolling interests: Redeemable noncontrolling interests—mezzanine 85,592 218,398 Noncontrolling interest—equity 9,170 (3,422) Net loss attributable to WeWork Companies Inc. $ (628,130) $ (689,676) Net loss per share attributable to Class A and Class B common stockholders (see Note 24): Basic $ (3.87) $ (4.15) Diluted $ (3.87) $ (4.15) Weighted-average shares used to compute net loss per share attributable to Class A and Class B common stockholders, basic and diluted 162,482,366 166,301,575 Pro forma net loss per share attributable to Class A and Class B common stockholders (see Note 24): Basic $ (3.20) Diluted $ (3.20) Weighted-average shares used to compute pro forma net loss per share attributable to Class A and Class B common stockholders, basic and diluted 365,154,863 The accompanying notes are an integral part of these condensed consolidated financial statements. F-68