Table of Contents Enterprise Membership Percentage We monetize our platform through a variety of means, including selling memberships, providing ancillary value-added products and services to our members and extending our global platform beyond work. Today, we are signing more multi-year membership agreements for various space solutions across our global platform: the average commitment term of our membership agreements has nearly doubled from approximately eight months as of December 1, 2017 to more than 15 months as of June 1, 2019. This creates a backlog of committed revenue, which we expect will drive increasing recurring revenues and cash flows as well as increase our revenue visibility. We had committed revenue backlog of $4.0 billion as of June 30, 2019, approximately eight times the $0.5 billion as of December 31, 2017. Almost all of our committed revenue backlog is attributable to membership agreements relating to our WeWork space-as-a-service offering. Committed Revenue Backlog 131