Table of Contents CAPITALIZATION The following table shows our cash and cash equivalents and capitalization as of June 30, 2019: • on an actual basis; • on a pro forma basis to give effect to (i) the IPO-related security conversions, (ii) the consummation of the stock split to be effected on the closing date of this offering pursuant to which each share held by a holder of common stock will be reclassified into shares and (iii) the conversion of the 2018 convertible note and exercise of the 2018 warrant; and • on a pro forma as adjusted basis to give effect to the transactions described in the preceding bullet point as well as the issuance by us of shares of Class A common stock in this offering at an assumed initial public offering price of $ per share, the midpoint of the price range set forth on the cover page of this prospectus. The pro forma and pro forma as adjusted information below is illustrative only, and our cash and cash equivalents and total capitalization following the completion of this offering will be adjusted based on the actual initial public offering price and other terms of our initial public offering determined at pricing. You should read the following table together with “Selected Historical Consolidated Financial and Operating Information” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the consolidated financial statements of WeWork Companies Inc. and related notes thereto appearing elsewhere in this prospectus. As of June 30, 2019 Pro forma as (1) (Amounts in thousands) Actual Pro forma adjusted Cash and cash equivalents: Total cash and cash equivalents $ 2,473,070 $ $ Long-term liabilities: Bank facilities $ — $ $ (2) 2019 Credit Facility — Long-term lease obligations 17,916,797 Long-term debt, net 1,342,660 Convertible related party liabilities, net 2,665,197 Other liabilities 113,943 Total long-term liabilities 22,038,597 (3) Convertible preferred stock, $0.001 par value 3,591,086 Redeemable noncontrolling interests 1,113,807 (4) Equity: (5) Class A common stock, $0.001 par value 41 (6) Class B common stock, $0.001 par value 129 (7) Class C common stock, $0.001 par value — (8) Additional paid-in capital 1,402,693 Additional other comprehensive income (loss) 18,045 (8) Accumulated deficit (3,999,260) Noncontrolling interests 278,948 Total equity (deficit) (2,299,404) Total capitalization $ 24,444,086 $ $ 58