Table of Contents WEWORK COMPANIES INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) Six Months Ended June 30, (Amounts in thousands) 2018 2019 Cash Flows from Operating Activities: Net loss $ (722,892) $ (904,652) Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation and amortization 137,418 255,924 Impairment of property and equipment 4,451 9,483 Stock-based compensation expense 27,845 188,335 Issuance of common stock for services rendered 8,439 10,477 Noncash interest expense 3,196 12,456 Provision for allowance for doubtful accounts 3,017 4,700 (Income) loss from equity method and other investments (878) 2,558 Foreign currency (gain) loss 43,481 (4,657) Change in fair value of financial instruments — (486,151) Contingent consideration fair market value adjustment 18,856 (43,078) Changes in operating assets and liabilities: Operating lease right-of-use assets — (3,488,841) Current and long-term lease obligations — 4,266,836 Deferred rent 492,772 — Lease incentives receivable (33,686) — Deferred lease acquisition costs (15,134) — Accounts receivable and accrued revenue (45,809) (83,263) Other assets (77,461) (111,217) Accounts payable and accrued expenses 58,854 112,541 Deferred revenue 30,476 76,921 Other liabilities (17,308) (17,083) Net cash used in operating activities (84,363) (198,711) Cash Flows from Investing Activities: Purchases of property and equipment (701,265) (1,266,748) Capitalized software (2,924) (17,732) Sale of software license 9,000 — Change in security deposits with landlords (57,217) (88,854) Proceeds from sale or redemption of investments 2,202 — Contributions to investments (4,802) (19,708) Loans to employees and related parties (5,150) (2,820) Cash used for acquisitions, net of cash acquired (128,017) (966,911) Net cash used in investing activities (888,173) (2,362,773) F-72