Table of Contents Among the approximately 255 million potential members across our 280 target cities globally, we estimate a total opportunity of $3.0 trillion. (1) As of June 1, 2019. (2) Includes existing 111 cities as of June 1, 2019. We believe these total opportunities reflect the amount employers are willing to spend and present an opportunity for us to capture greater wallet share through additional solutions and product and service offerings. We believe that we will be able to capture a portion of this existing spend per employee given our powerful brand and what we believe is a significant first-mover advantage over our competitors as the pioneer of the space-as-a-service model. We believe that our leadership position in this market, which we expect will benefit from trends enabling the re-invention of work, provides us a strong runway to continue growing. Based on our calculations, we have realized approximately 0.2% of our total opportunity in our 280 target cities globally, and even in our ten largest markets we have only 0.6% penetration today. (1) Penetration Across Global Cities (1) Based on our memberships divided by our total addressable market in a given city as of June 1, 2019. (2) New York market includes memberships in New York City, Brooklyn, Manhattan, Astoria and Long Island City. (3) Los Angeles market includes memberships in Los Angeles, Santa Monica, West Hollywood, Burbank, Playa Vista, Culver City, Pasadena, Costa Mesa, Long Beach and El Segundo. 135