WeWork Inc. announced on June 23, 2023, Mr. Deven Parekh notified the company of his resignation from the Board, effective immediately. Mr. Parekh occupied a seat on the Board pursuant to Insight Partners’ designation under the Amended and Restated Stockholders Agreement, dated as of May 5, 2023, by and among the Company, SVF Endurance (Cayman) Limited, SVF II WW Holdings (Cayman) Limited and Benchmark Capital Partners VII (AIV), L.P. The Board and the Nominating and Corporate Governance Committee of the Board intend to consider any new individual designated for consideration by Insight Partners as required under the Stockholders Agreement. Mr. Parekh served as chair of the Compensation Committee of the Board until his resignation.

Mr. Hurwitz continues to lead a committee composed of entirely independent directors to search for additional independent directors as well as a permanent Chief Executive Officer. The Company intends to cure this deficiency as promptly as practicable, and Daniel Hurwitz (Chairman of the Board) continues to lead a committee composed of entirely independent directors to search for additional independent directors.