Table of Contents WEWORK COMPANIES INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2018 The numerators and denominators of the basic and diluted net loss per share computations for our common stock are calculated as follows for the years ended December 31, 2016, 2017 and 2018: Year Ended December 31, (Amounts in thousands, except share and per share data) 2016 2017 2018 Numerator: Net loss attributed to WeWork Companies Inc. $ (429,690) $ (883,994) $ (1,610,792) Net loss attributable to Class A and Class B common stockholders $ (429,690) $ (883,994) $ (1,610,792) Denominator: Basic shares: Weighted-average shares - Basic 161,324,940 159,689,116 163,148,918 Diluted shares: Weighted-average shares - Diluted 161,324,940 159,689,116 163,148,918 Net loss per share attributable to Class A and Class B common stockholders: Basic $ (2.66) $ (5.54) $ (9.87) Diluted $ (2.66) $ (5.54) $ (9.87) The following table presents the total weighted-average number of potentially dilutive shares that were excluded from the computation of diluted net loss per share attributable to Class A and Class B common stockholders because their effect would have been anti-dilutive for the periods presented: Year Ended December 31, 2016 2017 2018 Convertible Preferred Stock Series A, B, C, D-1, D-2, E, F, G, and Acquisition 130,262,290 150,447,821 171,369,355 Convertible Preferred Stock Series Junior 1,500 1,500 1,500 Convertible notes 1,119,530 1,065,504 3,848,814 Stock options not subject to performance conditions 12,046,959 16,087,094 16,023,662 Unvested restricted stock/RSUs not subject to performance conditions 1,874,389 607,695 955,301 Vested RSUs with non-forfeitable dividend rights — 43,605 272,185 Warrants 2,528,340 2,355,035 1,178,715 Pro Forma Net Loss Per Share (Unaudited) The unaudited pro forma basic and diluted net loss per share attributable to Class A and Class B common stockholders for the year ended December 31, 2018 has been prepared to give effect to adjustments to the numerator in the pro forma basic and diluted net loss per share calculation to: • remove the effect of interest expense and amortization of debt discount for the Convertible Note; • remove gains or losses resulting from the remeasurement of the embedded derivative related to the Convertible Note; F-57