Furniture Strategies: Buy, Rent, BYO

03.04.2022

Member Space Furniture Use Cases: Upgrade, Rent, BYO INTERNAL DOCUMENT ONLY

© 2020 WeWork

(C) WeWork 2022 - Proprietary & Confidential. Work not to be published, for interview purposes only.

Find a WeWork furniture solution that works for you:

UPGRADE

RENT

Member upgrades furniture thru WeWork.

Member rents furniture from a third party WeWork partner.

Great For: ✓ Members wanting performance upgrades to our baseline furniture. ✓ Converting desks to an activity-based work environment like collab. settings or lounges bundles

Great For: ✓ Members looking for added flexibility and ability to

■ Furniture is a WeWork asset unless ownership is transferred to member.

■ Members may incur furniture removal & re-instatement fees to turnover office. Fee waivers are at TVP/GM discretion.

Great For: ✓ Members wanting to leverage existing vendor

change furniture over time ✓ Members wanting faster turnarounds and flexible

relationships or standards ✓ Members who already own furniture or have special

payment options

requirements

✓ Members interested in owning the furniture.

What You Need to Know:

BYO

(Bring your own) Member brings their own furniture into their office space.

What You Need to Know:

What You Need to Know: ■ Member contractually engages directly with rental

■ Furniture is member asset, therefore member is responsible for move-in and out

partner ■ Maintenance, refreshes, and upgrades are provided

■ Members may incur furniture removal & re-instate fees to turnover office (re-sell) for a new tenant. Fee

(at cost) by rental partner ■ Furniture is an asset of the rental partner

waivers are at TVP/GM discretion.

■ TVP/GM discretion to allow furniture ownership transfer to member

© 2020 WeWork

(C) WeWork 2022 - Proprietary & Confidential. Work not to be published, for interview purposes only.

Member wants to UPGRADE furniture with WeWork: ● ●

●

Description: Serves members who want to upgrade the furniture in their space thorough WeWork.

Members upgrades/changes will come from the WeWork’s standard furniture assortment as baseline. Non-Standard furniture requests are approved on a deal by deal at project level.

If desired, members may own the furniture. Added documentation required.

● ● ● ● ●

Program Info (Q1, 2022): Furn. Partner Availability

● ● ●

WeWork USC

● EMEA, APAC

This Scenario is Best Suited For: Members coming to WeWork for “one-stop-shop” turnkey solution Members wanting upgrades from from the standard WW assortment Members looking for tax advantages by owning furniture Deal Profile: Service Offering Lease Term Product Line

Custom Long Term Full Building

Full Floor

● ●

Configured Short Term Office Suite

● ● ●

Private Office ●

Member Stage

Prospective

Consideration on upgrading with WeWork: Furniture is a WeWork asset so the Member is not responsible for moving out furniture at end of lease - unless ownership is transferred.

If ownership is transferred, furniture is a Member asset and the Member will need to move it out at end of lease.

If furniture owned by member, they may require early handover (construction phase) for non-standard furniture install If the Member owns the furniture, they are responsible for furniture maintenance, repairs, refreshes Changes to office furniture at member’s request may require removal at end of deal term. TVP/GMs to direct furniture reinstate cost incurred by member.

Non-standard furniture scope needs must to be approved on a case by case basis at project level. TVP/GMs to direct if changes will have furniture reinstate cost incurred by member.

Required Documentation, WeWork Owned Furniture: Use the standard furniture language in Master Agreement Furniture scope to be captured in MA via S.O.W. list and exhibits (plans, collateral etc) Required Documentation, Member Owned Furniture: Scope of bought to be captured in Owned Furn. Responsibility Matrix Owned furniture language added to Master Agreement “Member Owned Furniture” added to furniture line item comments in project budgets attached to MA. Furniture scope to be captured in MA exhibits (plans, collateral etc)

Existing © 2020 WeWork

(C) WeWork 2022 - Proprietary & Confidential. Work not to be published, for interview purposes only.

(C) WeWork 2022 - Proprietary & Confidential” and “Work not to be published, for interview purposes only

Member wants to UPGRADE furniture: Workflow Qualifying

Selling

Negotiating

- EDUCATE MEMBER ON WEWORK FURNITURE SOLUTIONS - CONFIRM UNIQUE FURNITURE NEEDS ON AIRTABLE TICKET.

- PROVIDE COST ESTIMATE. TOOLS: F&A CALC - NEGOTIATES & PREPARES MA FOR EXECUTION.

- CREATES FURNITURE LAYOUT - INSERTS FURNITURE COLLATERAL (PRESET OR CUSTOM PROJECT) INTO MPP - PRESET COLLATERAL: MEMBER SPACE FURNITURE CATALOG

PROCURE MEMBER

- UNDERSTAND WEWORK CAPABILITIES. COMMUNICATE UNIQUE FURNITURE NEEDS.

Closing

Design / Build

Handover,Operate,Run

Membership Agreement

- ISSUES MA TO MEMBER FOR EXECUTION

- CONFIRM FURNITURE SCOPE WITH MEMBER. - USE FURNITURE PRESET COLLATERAL TO DEFINE SCOPE.

DESIGN**

DEV

SALES

Term Sheet

** Highlighted efforts completed by Design. For deals not supported by Design, Delivery to complete tasks using pre-set tools and collateral.

- SIGN OFF FURNITURE SCOPE

- SIGN OFF FURNITURE COST

- TRIGGER PROCUREMENT PROCESS. VIA INTERNAL PROCUREMENT OR EMPIRE PUNCH OUT

- LIAISE WITH DELIVERY & INSTALL VENDORS.

- CREATE/COORDINATE & ISSUE MASTER SCHEDULE (INTERNAL PROCUREMENT ONLY)

- PARTNER WITH DEALER FOR FURNITURE RE-SPECS. (INTERNAL PROCUREMENT ONLY)

- LEAD IS ASSIGNED TO PROJECT AND KICK-OFF CALL SET UP (INTERNAL PROCUREMENT ONLY)

- MANAGE FURNITURE PROCUREMENT PROCESS WITH DEALER/VENDORS (INTERNAL PROCUREMENT ONLY)

- AGREE TO TERMS AND SIGN MA

- FINALIZE CLOSEOUT ENSURING FURNITURE DELIVERY AND INSTALL IS COMPLETE AND SATISFACTORY.

- SIGN-OFF & ACCEPT FURNITURE AS DELIVERED AND INSTALLED. © 2020 WeWork

Member wants to RENT furniture from a Rental Partner ● ●

Description: Serves members who want the added flexibility of renting furniture in lieu of buying or bringing their own.

Members can rent the furniture from a WeWork curated assortment of the Rental Partner.

Program Info (Q1, 2022): Furn. Partner Availability

● ● ●

Feather US only

● ●

Furniture is an asset of the Rental Partner. Neither WeWork nor the Member owns the furniture.

●

Member is responsible for communicating with Rental Partner to have furniture removed at end of lease.

●

If Member moves offices, they are responsible for furniture transportation costs and logistics. Rental Partner may offer moving services at member’s cost.

●

Member selects from the WeWork curated furniture via Rental Partner’s website : wework.livefeather.com

●

Maintenance, refreshers and upgrades are provided by Rental Partner based on terms agreed upon between parties (WeWork not involved)

EMEA, APAC

This Scenario is Best Suited For: Members needing furniture with very fast turnaround times Members needing more flexible payments terms (vs. one time lump sum) Members wanting easy furniture refreshers (at cost) at some point during lease

Considerations in renting from Rental Partner: Member contractually engages with Rental Partner directly (not via WeWork)

Deal Profile: Service Offering

Custom

Configured

Lease Term

Long Term

Short Term

Product Line Member Stage

Full Building

Full Floor

Prospective

Office Suite

●

Required Documentation: Feather Enterprise intake form for Enterprise Members who have large furniture scope or unique requests

Private Office

Existing

For additional questions, refer to Feather's FAQ. © 2020 WeWork

(C) WeWork 2022 - Proprietary & Confidential. Work not to be published, for interview purposes only.

(C) WeWork 2022 - Proprietary & Confidential” and “Work not to be published, for interview purposes only

Member wants to RENT furniture: Workflow Qualifying

Selling

Negotiating

RENTAL PARTNER

MEMBER

DEV

SALES

Term Sheet - EDUCATE MEMBER ON WEWORK FURNITURE SOLUTIONS - CONFIRM UNIQUE FURNITURE NEEDS ON AIRTABLE TICKET.

Design / Build

Handover,Operate,Run

Membership Agreement

- ISSUES MA TO MEMBER FOR EXECUTION

- CONFIRM FURNITURE SCOPE WITH MEMBER. - USE RENTAL FURNITURE COLLATERAL TO DEFINE SCOPE WITH MEMBER.

- UNDERSTAND WEWORK CAPABILITIES. COMMUNICATE UNIQUE FURNITURE NEEDS.

Closing

- SIGN OFF FURNITURE LAYOUT

- COMMUNICATE PROCUREMENT STRATEGY & COST

- ENSURE WW FURNITURE SCOPE IS REMOVED IN MA. - CONNECT MEMBER WITH RENTAL PARTNER.

- SIGN OFF PROCUREMENT STRATEGY & COST

- AGREE TO TERMS AND SIGN MA. - CONTRACT WITH RENTAL PARTNER

- CREATE COST ESTIMATES

- CONTRACT AND WORK DIRECTLY WITH MEMBER

- LIAISE WITH RENTAL PARTNER AND COMMUNITY FOR FURNITURE DELIVERY

- SIGN-OFF FURNITURE DELIVERY AND INSTALL. WORK WITH RENTAL PARTNER FOR MAINTENANCE, REFRESH AND REMOVALS.

- DELIVER AND INSTALL FURNITURE IN COORDINATION WITH COMMUNITY AND PM

- WORK DIRECTLY WITH MEMBER FOR SERVICE BILLING, MAINTENANCE & CHANGES.

© 2020 WeWork

Member wants to BRING THEIR OWN furniture ●

Description: Serves members who want to bring their own furniture instead instead of transacting with WW for it.

Program Info (Q1, 2022):

● ● ●

Furn. Partner

N/A

Availability

USC, EMEA, APAC

This Scenario is Best Suited For: Member with specific furniture requirements outside WW's catalog Members with established dealer/vendor relationships Members who own their own furniture

●

Considerations: Member is responsible for move in/out of furniture at start/end of lease.

●

Member may require early handover during construction for their furniture installation.

●

For electrified furniture (ie. Sit/Stand Desks) Member to coordinate power requirements with WeWork and consultants ahead of move in and communicate scope prior to MA for budget / schedule purposes.

●

For large offices, furniture scope, coordination, site measurements etc responsibility should be clearly delineated between WeWork and Member and captured in MA.

●

Member will incur disposal and reinstatement fees as a baseline. Waiving of fees will be a discretion of TVP/GM

Deal Profile Availability:

Service Offering

Custom

Configured

Lease Term

Long Term

Short Term

Product Line Member Stage

Full Building

Full Floor

Prospective

Office Suite

● ●

Required Documentation: Note clearly in SOW and MA that furniture is a member asset.

Ensure language clearly defines that members is responsible for their own furniture

Private Office

Existing

© 2020 WeWork

(C) WeWork 2022 - Proprietary & Confidential. Work not to be published, for interview purposes only.

Member wants to BRING THEIR OWN furniture: Workflow Qualifying

Selling

Negotiating

- EDUCATE MEMBER ON WEWORK FURNITURE SOLUTIONS - CONFIRM UNIQUE FURNITURE NEEDS ON AIRTABLE TICKET.

MEMBER

Design / Build

Handover,Operate,Run

Membership Agreement

- ISSUES MA TO MEMBER FOR EXECUTION

- CONFIRM FURNITURE SCOPE WITH MEMBER. - COMMUNICATE SCOPE IN DESIGN PRODUCT SUPPORT FORM.

DESIGN

DEV

SALES

Term Sheet

Closing

- ADD ELECTRICAL COST FROM MEMBER’S ELECTRIFIED FURNITURE TO BUDGET ESTIMATES

- ENSURE FURNITURE SCOPE IS REMOVED FROM WW RESPONSIBILITY IN MA USING MATRIX AS EXHIBIT.

- COORDINATE ON-SITE EARLY ACCESS FOR MEMBER FOR FURNITURE DELIVERY AND INSTALL

- FINALIZE CLOSEOUT FOR PROJECT

- PROVIDE SUPPORT CREATING LAYOUTS FOLLOWING WEWORK STANDARD FURNITURE.

- UNDERSTAND WEWORK CAPABILITIES. COMMUNICATE UNIQUE FURNITURE NEEDS.

- SIGN OFF FURNITURE SCOPE AND LAYOUT.

- WORK WITH PREFERRED VENDOR FOR TO FIT THEIR FURNITURE INTO LAYOUT.

- AGREE TO TERMS AND SIGN MA - LIAISE WITH VENDOR AND WEWORK ENSURING ALL ELECTRIFIED FURNITURE IS PROPERLY COORDINATED. - REQUEST EARLY ACCESS TO MOVE IN FURNITURE

© 2020 WeWork

Furniture Decision Responsibilities

Design, Delivery & Comm. Mgmt.

Sales, TVP/GM

Defines project scope

Makes business financial decisions on projects

● Creates project layout

Design

● Selects furniture products and specifications

Design

● Estimates budgets for furniture scope

Comm.

● Creates project schedules

Dev.

● Manages permitting and city approvals

Dev.

● Manages with Logistics Partner (Delivery, Move-In & Install) Dev. ● Negotiates deal terms, prepares MA for execution.

Dev.

● Approver whether to apply or waive furniture removal and reinstatement fees for members ● Approves the procurement of Member requested non-standard furniture ● Approves furniture changes based on the turnover potential of the office for future tenants ● Issues MA to member for execution

© 2020 WeWork

(C) WeWork 2022 - Proprietary & Confidential. Work not to be published, for interview purposes only.

WeWork Key FF&E Vendors for Bring their Own KEY VENDORS

Contact

Steelcase

Gregory Whitehead GWHITEH2@steelcase.com

DWR (Design Within Reach)

Perrin Siegel psiegel@dwr.com

Poppin

Anne O’Donnell anne@poppin.com

Hem

Hillary Randall hillary@hem.com

Knoll

Ryan Rillon Ryan_Rillon@knoll.com

West Elm Empire Office

WeWorkTeam@empireoffice.com

© 2020 WeWork

(C) WeWork 2022 - Proprietary & Confidential. Work not to be published, for interview purposes only.