Document:

EX-10.6

 Exhibit 10.6 

AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT 

THIS AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as of __________, 2021, is entered into by
and among WeWork Inc., a Delaware corporation, formerly known as BowX Acquisition Corp. (the “Company”), BowX Sponsor, LLC, a Delaware limited liability company (the “Sponsor”) together with the undersigned parties
listed under BowX Investors on the signature pages hereto (the “BowX Investors”), SOF-X WW Holdings, L.P., a Delaware limited partnership, and SOF-XI WW
Holdings, L.P., a Delaware limited partnership (collectively, the “Starwood Investors”), and Insight Entity (the “Insight Investor” and together with the Starwood Investors, the “Anchor Investors”),
the undersigned parties listed under Windmill Investors on the signature pages hereto (the “Windmill Investors” and, collectively with the BowX Investors, the Anchor Investors and any person or entity who hereafter becomes a party
to this Agreement pursuant to Section 5.2 of this Agreement, the “Holders” and each a “Holder”). 

RECITALS 
 WHEREAS, each
of the Company and the BowX Investors is a party to, and hereby consents to, the amendment and restatement of that certain Registration Rights Agreement, dated August 4, 2020 (the “Existing Registration Rights Agreement”),
pursuant to which the Company granted the BowX Investors certain registration rights with respect to certain securities of the Company, as set forth therein; 

WHEREAS, the Company and the Vivek Ranadivé entered into that certain letter agreement, dated May 26, 2020 (the “Founder
Shares Purchase Agreement”), pursuant to which Mr. Ranadivé purchased an aggregate of 10,062,500 shares of the Company’s Class B common stock, par value $0.0001 per share (the “Class B Common
Stock”), and Mr. Ranadive subsequently transferred an aggregate of 3,363,500 Founder Shares to the other BowX Investors; 

WHEREAS, on August 4, 2020, the Company entered into those certain subscription agreements (the “Private Placement Warrant
Purchase Agreements”) with certain BowX Investors, pursuant to which BowX Investors purchased an aggregate of 7,773,333 private placement warrants (the “Private Placement Warrants”) to purchase, at an exercise price of
$11.50 per share of Class A Common Stock; 
 WHEREAS, on August 4, 2020, the Company effected a stock dividend of 0.2 shares of
Class B Common Stock for each share of Class B Common Stock outstanding, resulting in the BowX Investors holding an aggregate of 12,075,000 shares of Class B Common Stock (the “Founder Shares”); 

WHEREAS, pursuant to that certain Sponsor Support Agreement, dated March 25, 2021, Sponsor forfeited 3,000,000 Founder Shares on the date
hereof. 
 WHEREAS, upon the date hereof, Mr. Ranadivé transferred an aggregate of 1,811,250 shares of Class B Common Stock
to BlackRock Credit Alpha Master Fund, L.P. and HC NCBR Fund. 
 WHEREAS, upon the closing of the transactions (the
“Transactions”) contemplated by that certain Merger Agreement dated March 25, 2021 by and among the Company, BowX Merger Subsidiary Corp., a Delaware corporation (“Merger Sub”), and Windmill, a Delaware
corporation (as amended, the “Merger Agreement”), 9,075,000 Founder Shares were converted into shares of the Company’s Class A common stock, par value $0.001 per share (the “Class A Common
Stock”); 
 WHEREAS, on March 25, 2021, the Company entered into those certain Subscription Agreements (the “Anchor
Subscription Agreements”) with the Anchor Investors, pursuant to which and in connection with the closing of the Transactions, each of the Anchor Investors purchased shares of Class A Common Stock in a transaction exempt from
registration under the Securities Act; 

 WHEREAS, on the date hereof, pursuant to the Merger Agreement, the Windmill Investors
received shares of the Company’s Class A Common Stock; 
 WHEREAS, pursuant to Section 6.7 of the Existing Registration
Rights Agreement, any amendment or modification of the terms, provisions and covenants set forth therein will not be binding upon any party unless executed in writing by such party; and 

WHEREAS, the Company and the BowX Investors desire to amend and restate the Existing Registration Rights Agreement in order to provide the
BowX Investors, the Anchor Investors and the Windmill Investors with certain registration rights with respect to certain securities of the Company, on the terms and conditions set forth in this Agreement. 

NOW, THEREFORE, in consideration of the representations, covenants and agreements contained herein, and certain other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows: 

ARTICLE I 
 DEFINITIONS 

1.1. Definitions. The terms defined in Article I shall, for all purposes of this Agreement, have the respective meanings set forth below: 

“Adverse Disclosure” shall mean any public disclosure of material non-public
information, which disclosure, in the good faith judgment of the Chief Executive Officer or the Chief Financial Officer of the Company, after consultation with counsel to the Company, (i) would be required to be made in any Registration
Statement or Prospectus in order for the applicable Registration Statement or Prospectus not to contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements contained therein (in the case of any
prospectus and any preliminary prospectus in the light of the circumstances under which they were made) not misleading, (ii) would not be required to be made at such time if the Registration Statement were not being filed and (iii) either
(A) could reasonably be expected to have a material adverse effect on the Company’s ability to effect a material proposed acquisition, disposition, financing, reorganization, recapitalization or similar transaction or (B) relates to
information the accuracy of which has yet to be determined by the Company or which is the subject of an ongoing investigation or inquiry; provided that the Company takes all action as necessary to as expeditiously as possible make such determination
and conclude such investigation or inquiry. 
 “Agreement” shall have the meaning given in the Preamble hereto. 

“Anchor Investors” shall have the meaning given in the Recitals hereto. 

“Anchor Subscription Agreements” shall have the meaning given in the Recitals hereto. 

“business day” means a day, other than a Saturday or Sunday, on which commercial banks in New York, New York are open for the
general transaction of business. 
 “Block Trade” shall mean an underwritten registered offering not involving a
“roadshow,” an offer commonly known as a “block trade.” 
 “Board” shall mean the Board of Directors of
the Company. 
 “BowX Investors” has the meaning given in the Preamble hereto. 

“Class A Common Stock” has the meaning given in the Recitals hereto. 

“Closing Date” shall have the meaning given in the Merger Agreement. 

  
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 “Commission” shall mean the Securities and Exchange Commission. 

“Commission Guidance” means (i) any publicly-available written or oral guidance of the Commission staff, or any
comments, requirements or requests of the Commission staff and (ii) the Securities Act. 
 “Company” shall have the
meaning given in the Preamble hereto and includes the Company’s successors by recapitalization, merger, consolidation, spin-off, reorganization or similar transaction. 

“Company Underwritten Demand Notice” shall have the meaning given in subsection 2.1.3. 

“Demanding Anchor Investor” shall have the meaning given in subsection 2.1.5. 

“Demanding BowX-Windmill Investor” shall have the meaning given in subsection 2.1.5. 

“Demanding Holders” shall have the meaning given in subsection 2.1.3. 

“Exchange Act” shall mean the Securities Exchange Act of 1934, as it may be amended from time to time. 

“Existing Registration Rights Agreement” shall have the meaning given in the Recitals hereto. 

“Form S-1 Registration Statement” shall have the meaning given in subsection
2.1.1. 
 “Form S-3 Shelf” shall have the meaning given in subsection
2.1.1. 
 “Founder Shares” shall have the meaning given in the Recitals hereto and shall be deemed to include the
shares of Class A Common Stock issued upon conversion thereof. 
 “Founder Shares Purchase Agreement” has the meaning
given in the Recitals hereto. 
 “Holders” shall have the meaning given in the Preamble hereto, for so long as such person
or entity holds any Registrable Securities. 
 “Insider Letter” shall mean that certain letter agreement, dated as of
August 4, 2020, by and between the Company, the Sponsor and each of the other parties thereto. 
 “Lock-Up Letter Agreements” shall mean those certain letter agreements, dated as of the Closing Date, whereby certain Holders agreed not to transfer their shares for the applicable Lock-Up Period. 
 “Lock-Up Periods” shall mean
the periods of time during which certain Holders have agreed not to transfer their shares as set forth in the Lock-Up Letter Agreements. 

“Maximum Number of Securities” shall have the meaning given in subsection 2.2.4. 

“Merger Agreement” shall have the meaning given in the Recitals hereto. 

“Minimum Takedown Threshold” shall have the meaning given in subsection 2.1.3. 

“Misstatement” shall mean an untrue statement of a material fact or an omission to state a material fact required to be
stated therein, or necessary to make the statements therein (in the case of any Prospectus and any preliminary Prospectus, in the light of the circumstances under which they were made) not misleading. 

“Notices” shall have the meaning given in Section 6.3. 

  
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 “Permitted Transferees” shall mean (a) with respect to a BowX
Investor, a person or entity to whom a BowX Investor is permitted to Transfer such Registrable Securities prior to the expiration of such investor’s applicable Lock-up Period as set forth in such
investor’s applicable Lock-Up Letter Agreement, and to any transferee thereafter, and (b) with respect to a Windmill Investor, a person or entity to whom such Windmill Investor is permitted to
Transfer such Registrable Securities prior to the expiration of such investor’s applicable Lock-up Period as set forth in such investor’s applicable Lock-Up
Letter Agreement pursuant to Section 5.2 of this Agreement and any other applicable agreement between such Windmill Investors and the Company, and to any transferee thereafter. 

“Piggy-back Registration” shall have the meaning given in subsection 2.2.1. 

“Private Placement Warrants” shall have the meaning given in the Recitals hereto. 

“Private Placement Warrants Purchase Agreements” shall have the meaning given in the Recitals hereto. 

“Pro Rata” shall have the meaning given in subsection 2.2.4. 

“Prospectus” shall mean the prospectus included in any Registration Statement, as supplemented by any and all prospectus
supplements and as amended by any and all post-effective amendments and including all material incorporated by reference in such prospectus. 

“Registrable Security” shall mean (a) any outstanding share of Class A Common Stock or any other equity security
(including the Private Placement Warrants and shares of Class A Common Stock issued or issuable upon the exercise of any other equity security) of the Company held by a Holder as of the date of this Agreement or hereafter acquired by a Holder
upon the conversion of the Founder Shares or the exercise of any Private Placement Warrants including any shares of Class A Common Stock acquired pursuant to the Merger Agreement by the Windmill Investors or pursuant to the New SBG Warrant (as
defined in the Merger Agreement), and (b) any other equity security of the Company issued or issuable with respect to any such share of Class A Common Stock referred to in the foregoing clause (a) by way of a stock dividend or stock
split or in connection with a combination of shares, recapitalization, merger, consolidation or other reorganization or otherwise; provided, however, that, as to any particular Registrable Security, such securities shall cease to be Registrable
Securities when: (i) a Registration Statement with respect to the sale of such securities shall have become effective under the Securities Act and such securities shall have been sold, transferred, disposed of or exchanged in accordance with
such Registration Statement; (ii) such securities shall have been otherwise transferred, and new certificates or book entry positions for such securities not bearing a legend restricting further transfer shall have been delivered by the
Company; (iii) such securities shall have ceased to be outstanding; (iv) such securities may be sold without registration pursuant to Rule 144 promulgated under the Securities Act (together with any successor rule promulgated thereafter by
the Commission, “Rule 144”) (but with no volume or other restrictions or limitations thereunder); or (v) such securities have been sold to, or through, a broker, dealer or underwriter in a public distribution or other public
securities transaction. 
 “Registration” shall mean a registration effected by preparing and filing a registration
statement or similar document in compliance with the requirements of the Securities Act, and the applicable rules and regulations promulgated thereunder, and such registration statement becoming effective. 

“Registration Expenses” shall mean the
out-of-pocket expenses of a Registration, including, without limitation, the following: 
  

	 	(a)	 all registration and filing fees (including fees with respect to filings required to be made with the Financial
Industry Regulatory Authority, Inc.) and any securities exchange on which the Class A Common Stock is then listed; 

  

	 	(b)	 fees and expenses of compliance with securities or blue sky laws (including reasonable fees and disbursements
of counsel for the Underwriters in connection with blue sky qualifications of Registrable Securities); 

  

	 	(c)	 printing, messenger, telephone, delivery and road show or other marketing expenses; 

 

	 	(d)	 reasonable fees and disbursements of counsel for the Company; 

 

	 	(e)	 reasonable fees and disbursements of all independent registered public accountants of the Company incurred
specifically in connection with such Registration; and 

  
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	 	(f)	 in an Underwritten Offering, reasonable fees and expenses of one (1) legal counsel (not to exceed $100,000
in the aggregate for each Registration without prior approval of the Company) selected by the majority-in-interest of the Demanding Holders. 

“Registration Statement” shall mean any registration statement that covers the Registrable Securities pursuant to the
provisions of this Agreement, including the Prospectus included in such registration statement, amendments (including post-effective amendments) and supplements to such registration statement, and all exhibits to and all material incorporated by
reference in such registration statement. 
 “Removed Shares” shall have the meaning given in
Section 2.6. 
 “Requesting Holders” shall have the meaning given in
Section 2.1.5. 
 “Restricted Securities” shall have the meaning given in subsection
3.6.1. 
 “Rule 144” shall have the meaning given in the definition of “Registrable Security.” 

“Rule 415” shall have the meaning given in subsection 2.1.1. 

“Securities Act” shall mean the Securities Act of 1933, as amended, and the rules and regulations of the Commission
promulgated thereunder, all as the same shall be in effect at the time. 
 “Sponsor” shall have the meaning given in the
Preamble hereto. 
 “Subscription Agreements” shall mean those certain subscription agreements dated March 25, 2021 by
and between the Company and certain subscribers to shares of Class A Common Stock. 
 “Transactions” shall have the
meaning given in the Recitals hereto. 
 “Transfer” shall mean to, directly or indirectly, sell, transfer, assign, pledge,
encumber, hypothecate or similarly dispose of, either voluntarily or involuntarily, or to enter into any contract, option or other arrangement or understanding with respect to the sale, transfer, assignment, pledge, encumbrance, hypothecation or
similar disposition of, any interest owned by a person or any interest (including a beneficial interest) in, or the ownership, control or possession of, any interest owned by a person. 

“Underwriter” shall mean a securities dealer who purchases any Registrable Securities as principal in an underwritten
offering and not as part of such dealer’s market-making activities. 
 “Underwritten Demand” shall have the meaning
given in subsection 2.1.3. 
 “Underwritten Demand Notice” shall have the meaning given in
subsection 2.1.3. 
 “Underwritten Registration” or “Underwritten Offering” shall mean a
Registration in which securities of the Company are sold to an Underwriter in a firm commitment underwriting for distribution to the public, including an offering and/or sale of Registrable Securities by any Holder in a Block Trade or on an
underwritten basis (whether firm commitment or otherwise) without substantial marketing efforts prior to pricing, including, without limitation, a same day trade, overnight trade or similar transaction. 

“Windmill Investors” shall have the meaning given in the Preamble hereto. 

“Withdrawal Notice” shall have the meaning given in subsection 2.1.6. 

  
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 ARTICLE II 

REGISTRATIONS 
 2.1 Shelf
Registration.  
 2.1.1 Initial Registration. The Company shall, as promptly as reasonably practicable, but in no event later
than thirty (30) days after the consummation of the transactions contemplated by the Merger Agreement, file a Registration Statement under the Securities Act to permit the public resale of all the Registrable Securities held by the Holders from
time to time as permitted by Rule 415 under the Securities Act (or any successor or similar provision adopted by the Commission then in effect) (“Rule 415”) on the terms and conditions specified in this subsection 2.1.1 and
shall use its reasonable best efforts to cause such Registration Statement to be declared effective as promptly as reasonably practicable after the initial filing thereof, but in no event later than the earlier of (a) sixty (60) days following
the filing date thereof if the Commission notifies the Company that it will “review” the Registration Statement and (b) ten (10) business day after the date the Company is notified (orally or in writing, whichever is earlier) by the
Commission that the Registration Statement will not be “reviewed” or will not be subject to further review. The Registration Statement filed with the Commission pursuant to this subsection 2.1.1 shall be a shelf registration
statement on Form S-1 (a “Form S-1 Registration Statement”) or, if Form S-3 is available to the Company, on Form
S-3 (a “Form S-3 Shelf”) or such other form of registration statement as is then available to effect a registration for resale of such Registrable
Securities, covering such Registrable Securities, and shall contain a Prospectus in such form as to permit any Holder to sell such Registrable Securities pursuant to Rule 415 at any time beginning on the effective date for such Registration
Statement. A Registration Statement filed pursuant to this subsection 2.1.1 shall provide for the resale pursuant to any method or combination of methods legally available to, and requested by, the Holders. The Company shall cause a
Registration Statement filed pursuant to this subsection 2.1.1 to remain effective, and to be supplemented and amended to the extent necessary to ensure that such Registration Statement is available or, if not available, that another
Registration Statement is available, for the resale of all the Registrable Securities held by the Holders until all such Registrable Securities have ceased to be Registrable Securities. As soon as reasonably practicable following the effective date
of a Registration Statement filed pursuant to this subsection 2.1.1, the Company shall notify the Holders of the effectiveness of such Registration Statement. When effective, a Registration Statement filed pursuant to this subsection
2.1.1 (including the documents incorporated therein by reference) will comply as to form in all material respects with all applicable requirements of the Securities Act and the Exchange Act and will not contain any untrue statement of a material
fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading (in the case of any Prospectus contained in such Registration Statement, in the light of the circumstances under which
such statement is made). 
 2.1.2 Form S-3 Shelf. If the Company files a Form S-3 Shelf and thereafter the Company becomes ineligible to use Form S-3 for secondary sales, the Company shall file a Form S-1
Registration Statement as promptly as reasonably practicable to replace the shelf registration statement that is a Form S-3 Shelf and have the Form S-1 Registration
Statement declared effective as promptly as reasonably practicable and to cause such Form S-1 Registration Statement to remain effective, and to be supplemented and amended to the extent necessary to ensure
that such Registration Statement is available or, if not available, that another Registration Statement is available, for the resale of all the Registrable Securities held by the Holders until all such Registrable Securities have ceased to be
Registrable Securities. 
 2.1.3 Underwritten Offering. At any time and from time to time following the effectiveness of the
Registration Statement required by subsection 2.1.1 or 2.1.2, any Anchor Investor, BowX Investor, or Windmill Investor may request to sell all or a portion of their Registrable Securities (a “Demanding Holder”) in an
underwritten offering that is registered pursuant to such Registration Statement, including a Block Trade (an “Underwritten Demand”), provided that such Holder(s) (a) reasonably expect aggregate gross proceeds, net of
underwriting discounts and commissions, in excess of $50 million (the “Minimum Takedown Threshold”) from such Underwritten Offering or (b) reasonably expects to sell all of the Registrable Securities held by such Holder in
such Underwritten Offering, provided that the total offering price is reasonably expected to exceed $25 million in the aggregate. All requests for an Underwritten Offering shall be made by giving written notice to the Company (the
“Underwritten Demand Notice”). Each Underwritten Demand Notice shall specify the approximate number of Registrable Securities proposed to be sold in the Underwritten Offering and the expected price range (net of underwriting
discounts and commissions) of such Underwritten Offering. Within four (4) days after receipt of any Underwritten Demand Notice, the Company shall give written notice of such requested Underwritten Offering (the “Company Underwritten
Demand Notice”) to all other Holders of Registrable Securities and, subject to reductions consistent with the Pro Rata calculations in subsection 2.1.5, shall include in such Underwritten Offering all Registrable Securities with
respect to which the 

  
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Company has received written requests for inclusion therein, within five (5) days after sending the Company Underwritten Demand Notice, or, in the case of a Block Trade, as provided in
Section 2.6. The Company shall enter into an underwriting agreement in a form as is customary in Underwritten Offerings of securities by the Company with the managing Underwriter or Underwriters selected by the Demanding Holders with the
written consent of the Company (such consent not to be unreasonably withheld, delayed or conditioned), and shall take all such other reasonable actions as are requested by the managing Underwriter or Underwriters in order to expedite or facilitate
the disposition of such Registrable Securities. In connection with any Underwritten Offering contemplated by this subsection 2.1.3, subject to Section 3.3 and Article IV, the underwriting agreement into which
each Holder and the Company shall enter shall contain such representations, covenants, indemnities and other rights and obligations of the Company and such Holders as are customary in underwritten offerings of securities. In any twelve
(12) month period, the Company shall not be obligated to effect more than (x) an aggregate of three (3) Registrations pursuant to an Underwritten Demand or Underwritten Offering initiated by the BowX Investors, (y) an aggregate
of three (3) Registrations pursuant to an Underwritten Demand or an Underwritten Offering initiated by the Windmill Investors and (z) an aggregate of three (3) Registrations pursuant to an Underwritten Demand or an Underwritten
Offering initiated by the Anchor Investors, in each case, with respect to any of all Registrable Securities. 
 2.1.4 Holder Information
Required for Participation in Underwritten Offering. At least ten (10) business days prior to the first anticipated filing date of a Registration Statement pursuant to this Article II, the Company shall use commercially reasonable
efforts notify each Holder in writing (which may be by email) of the information reasonably necessary about the Holder to include such Holder’s Registrable Securities in such Registration Statement. Notwithstanding anything else in this
Agreement, the Company shall not be obligated to include such Holder’s Registrable Securities to the extent the Company has not received such information, and received any other reasonably requested agreements or certificates, on or prior to
the fifth business day prior to the first anticipated filing date of a Registration Statement pursuant to this Article II. 
 2.1.5
Reduction of Underwritten Offering. If the managing Underwriter or Underwriters in an Underwritten Offering, in good faith, advises the Company, the Demanding Holders and the Holders requesting to include their Registrable Securities in such
Underwritten Offering (the “Requesting Holders”) (if any) in writing that, the dollar amount or number of Registrable Securities that the Demanding Holders and the Requesting Holders (if any) desire to sell, taken together with all
other Class A Common Stock or other equity securities that the Company desires to sell for its own account and the Class A Common Stock, if any, as to which a Registration has been requested pursuant to separate written contractual
piggy-back registration rights held by any other stockholders of the Company who desire to sell, exceeds the maximum dollar amount or maximum number of equity securities that can be sold in such Underwritten Offering without adversely affecting the
proposed offering price, the timing, the distribution method, or the probability of success of such offering (such maximum dollar amount or maximum number of such securities, as applicable, the “Maximum Number of Securities”), then
the Company shall include in such Underwritten Offering, as follows: (i) first, the Registrable Securities of the Demanding Holders and Requesting Holders who are BowX Investors and Windmill Investors (each a “Demanding BowX-Windmill
Investor”) (pro rata based on the respective number of Registrable Securities that each such Demanding BowX-Windmill Investor has requested to be included in such Underwritten Registration and the aggregate number of Registrable Securities
that the Demanding BowX-Windmill Investors have requested be included in such Underwritten Registration (such proportion is referred to herein as “Pro Rata”)) that can be sold without exceeding the Maximum Number of Securities,
(ii) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing clause, the Registrable Securities of the Demanding Holders who are Anchor Investors (each a “Demanding Anchor Investor”)
(Pro Rata based on the respective number of Registrable Securities that each such Demanding Anchor Investor has so requested), (iii) third, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses
(i) and (ii), the Registrable Securities of Requesting Holders, to the extent not covered by the foregoing clauses (Pro Rata, based on the respective number of Registrable Securities that each Requesting Holder has so requested) exercising
their rights to register their Registrable Securities pursuant to subsection 2.2.1 hereof, without exceeding the Maximum Number of Securities; (iv) fourth, to the extent that the Maximum Number of Securities has not been reached under
the foregoing clauses (i), (ii), and (iii), the Class A Common Stock or other equity securities that the Company desires to sell, which can be sold without exceeding the Maximum Number of Securities; and (v) fifth, to the extent that the
Maximum Number of Securities has not been reached under the foregoing clauses (i), (ii), (iii), and (iv), the common stock or other equity securities of other persons or entities that the Company is obligated to register in a Registration pursuant
to separate written contractual arrangements with such persons and that can be sold without exceeding the Maximum Number of Securities. 

  
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 2.1.6 Underwritten Offering Withdrawal. Prior to the filing of the applicable
“red herring” prospectus or prospectus supplement used for marking such Underwritten Offering, a majority-in-interest of the Demanding Holders initiating an
Underwritten Demand pursuant to a Registration under subsection 2.1.3 shall have the right to withdraw from a Registration pursuant to an Underwritten Offering pursuant to subsection 2.1.3 for any or no reason whatsoever upon written
notification (“Withdrawal Notice”) to the Company and the Underwriter or Underwriters (if any) of their intention to withdraw from such Registration; provided that any Requesting Holding may elect to have the Company continue an
Underwritten Demand if the Minimum Takedown Threshold would still be satisfied by the Registrable Securities proposed to be sold in the Underwritten Demand by such Requesting Holders. If withdrawn by a Demanding Holder, any Requesting Holder may
elect to continue an Underwritten Demand pursuant to the proviso in the immediately preceding sentence and such Underwritten Demand shall instead count as an Underwritten Demand demanded by such Requesting Holder for purposes of subsection
2.1.3. Following the receipt of any Withdrawal Notice, the Company shall promptly forward such Withdrawal Notice to any other Holders that had elected to participate in such Underwritten Offering and shall not include the Registrable Securities
of such withdrawing Demanding Holder(s) in the applicable registration and such Registrable Securities shall continue to be Registrable Securities for all purposes of this Agreement (subject to the other terms and conditions of this Agreement).
Notwithstanding anything to the contrary in this Agreement, the Company shall be responsible for the Registration Expenses incurred in connection with a Registration pursuant to an Underwritten Offering prior to its withdrawal under this
subsection 2.1.6. 
 2.2 Piggy-back Registration. 

2.2.1 Piggy-back Rights. If the Company proposes to conduct a registered offering of, or to file a Registration Statement under the
Securities Act with respect to an offering of, equity securities, or securities or other obligations exercisable or exchangeable for, or convertible into equity securities, for its own account or for the account of stockholders of the Company (or by
the Company and by the stockholders of the Company including, without limitation, pursuant to Section 2.1), other than a Registration Statement (i) filed in connection with any employee stock option or other benefit
plan, (ii) pursuant to a Registration Statement on Form S-4 (or similar form that relates to a transaction subject to Rule 145 under the Securities Act or any successor rule thereto), (iii) for a rights
offering or an exchange offer or offering of securities solely to the Company’s existing stockholders, (iv) for an offering of debt that is convertible into equity securities of the Company, (v) for a dividend reinvestment plan, or
(vi) for a Block Trade, then the Company shall give written notice of such proposed filing to all of the Holders of Registrable Securities as soon as practicable but not less than ten (10) days before the anticipated filing date of such
Registration Statement or, in the case of an Underwritten Offering pursuant to a Form S-3 Shelf, not less than ten (10) days before the anticipated filing date of the prospectus supplement used for
marketing such offering, which notice shall (A) describe the amount and type of securities to be included in such offering, the intended method(s) of distribution and the name of the proposed managing Underwriter or Underwriters, if any, in
such offering and (B) offer to all of the Holders of Registrable Securities the opportunity to register the sale of such number of Registrable Securities as such Holders may request in writing within five (5) days after receipt of such
written notice (such Registration a “Piggy-back Registration”). The Company shall, in good faith, cause such Registrable Securities to be included in such Piggy-back Registration and shall use commercially reasonable efforts to
cause the managing Underwriter or Underwriters of a proposed Underwritten Offering to permit the Registrable Securities requested by the Holders pursuant to this subsection 2.2.1 to be included in a Piggy-back Registration on the same terms
and conditions as any similar securities of the Company included in such Registration and to permit the sale or other disposition of such Registrable Securities in accordance with the intended method(s) of distribution thereof. All such Holders
proposing to distribute their Registrable Securities through an Underwritten Offering under this subsection 2.2.1, shall enter into an underwriting agreement in customary form with the Underwriter(s) selected for such Underwritten Offering by
the Company. 
 2.2.2 Reduction of Piggy-back Registration. If the managing Underwriter or Underwriters for a in an Underwritten
Offering that is to be a Piggy-back Registration, in good faith, advises the Company and the Holders of Registrable Securities participating in the Piggy-back Registration in writing that the dollar amount or number of the shares of Class A
Common Stock or other equity securities that the Company desires to sell, taken together with (i) the shares of Class A Common Stock or other equity securities, if any, as to which Registration has been demanded pursuant to separate
written contractual arrangements with persons or entities other than the Holders of Registrable Securities hereunder, (ii) the Registrable Securities as to which registration has been requested pursuant to this
Section 2.2, and (iii) the shares of Class A Common Stock or other equity securities, if any, as to which Registration or a registered offering has been requested pursuant to separate written contractual
piggy-back registration rights of other stockholders of the Company exceeds the Maximum Number of Securities, then: 

  
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 a) If the Registration is undertaken for the Company’s account, the Company shall
include in any such Registration: (A) first, the Class A Common Stock or other equity securities that the Company desires to sell for its own account, which can be sold without exceeding the Maximum Number of Securities; (B) second,
to the extent that the Maximum Number of Securities has not been reached under the foregoing clause (A), the Registrable Securities of BowX Investors and Windmill Investors exercising their rights to register their Registrable Securities pursuant to
Section 2.2.1, Pro Rata, which can be sold without exceeding the Maximum Number of Securities; (C) third, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses
(A) and (B), the Registrable Securities of Anchor Investors exercising their rights to register their Registrable Securities pursuant to Section 2.2.1, Pro Rata, and (D) fourth, to the extent that the Maximum
Number of Securities has not been reached under the foregoing clauses (A), (B) and (C), the Class A Common Stock or other equity securities, if any, as to which Registration has been requested or demanded pursuant to written contractual
piggy-back registration rights of other stockholders of the Company, which can be sold without exceeding the Maximum Number of Securities; and 

b) If the Registration is pursuant to a request by persons or entities other than the Holders of Registrable Securities, then the Company
shall include in any such Registration (A) first, the Class A Common Stock or other equity securities, if any, of such requesting persons or entities, other than the Holders of Registrable Securities, which can be sold without exceeding
the Maximum Number of Securities; (B) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing clause (A), the Registrable Securities of BowX Investors and Windmill Investors exercising their rights
to register their Registrable Securities pursuant to Section 2.2.1, Pro Rata, which can be sold without exceeding the Maximum Number of Securities; (C) third, to the extent that the Maximum Number of Securities has not
been reached under the foregoing clauses (A) and (B), the Registrable Securities of Anchor Investors exercising their rights to register their Registrable Securities pursuant to Section 2.2.1, Pro Rata, and
(D) fourth, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (A), (B) and (C), the Class A Common Stock or other equity securities, if any, as to which Registration has been requested or
demanded pursuant to written contractual piggy-back registration rights of other stockholders of the Company, which can be sold without exceeding the Maximum Number of Securities. 

2.2.3 Piggy-back Registration Withdrawal. Any Holder of Registrable Securities shall have the right to withdraw from a Piggy-back
Registration for any or no reason whatsoever upon written notification to the Company and the Underwriter or Underwriters (if any) of his, her or its intention to withdraw from such Piggy-back Registration prior to the effectiveness of the
Registration Statement filed with the Commission with respect to such Piggy-back Registration (or, in the case of an Underwritten Registration pursuant to Rule 415, prior to the filing of the applicable “red herring” prospectus or
prospectus supplement with respect to such Piggy-back Registration used for marketing such transaction). The Company (whether on its own good faith determination or as the result of a request for withdrawal by persons pursuant to separate written
contractual obligations) may withdraw a Registration Statement filed with the Commission in connection with a Piggy-back Registration at any time prior to the effectiveness of such Registration Statement. Notwithstanding anything to the contrary in
this Agreement, the Company shall be responsible for the Registration Expenses incurred in connection with the Piggy-back Registration prior to its withdrawal under this subsection 2.2.3. 

2.2.4 Unlimited Piggy-back Registration Rights. For purposes of clarity, any Registration effected pursuant to Section 2.3 hereof
shall not be counted as a Registration pursuant to an Underwritten Offering effected under subsection 2.1.3. 
 2.3 Market Stand-off. In connection with any Underwritten Offering of equity securities of the Company (other than a Block Trade), if requested by the managing Underwriters, each Holder that is (a) an executive
officer, (b) a director or (c) Holder in excess of five percent (5%) of the outstanding Class A Common Stock (and for which it is customary for such a Holder to agree to a lock-up) agrees that
it shall not transfer any shares of Common Stock or other equity securities of the Company (other than those included in such offering pursuant to this Agreement), without the prior written consent of the Company, during the ninety (90)-day period (or such shorter time agreed to by the managing Underwriters) beginning on the date of pricing of such offering, except as expressly permitted by such lock-up
agreement or in the event the managing Underwriters otherwise agree by written consent. Each such Holder agrees to execute a customary lock-up agreement in favor of the Underwriters to such effect (in each
case on substantially the same terms and conditions as all such Holders). 

  
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 2.4 [Reserved]. 

2.5 Block Trades. 
 2.5.1
Notwithstanding any other provision of this Section 2, but subject to Section 3.4, if a Demanding Holder desires to effect a Block Trade (x) with a total offering price reasonably
expected to exceed $50 million in the aggregate or (y) with respect to all remaining Registrable Securities held by the Demanding Holder; provided that the total offering price is reasonably expected to exceed $25 million in
the aggregate, then such Demanding Holder shall provide written notice to the Company at least five (5) Business Days prior to the date such Block Trade will commence. The Company shall use commercially reasonable efforts to facilitate such
Block Trade. The Holders shall use reasonable best efforts to work with the Company and the Underwriters (including by disclosing the maximum number of Registrable Securities proposed to be the subject of such Block Trade) in order to facilitate
preparation of the Registration Statement, Prospectus and other offering documentation related to the Block Trade and any related due diligence and comfort procedures. In the event of a Block Trade, and after consultation with the Company, the
Demanding Holders and the Requesting Holders (if any) shall determine the Maximum Number of Securities, the underwriter or underwriters and share price of such offering. Notwithstanding anything to the contrary in this Agreement, Section 2.2
shall not apply to a Block Trade initiated by a Demanding Holder pursuant to this Agreement. In any twelve (12) month period, the Company shall not be obligated to effect more than (x) one (1) Block Trade demanded by the BowX Investors,
(y) three (3) Block Trade demanded by the Windmill Investors and (z) one (1) Block Trade demanded by each of the Anchor Investors; provided however, that the BowX Investors, Windmill Investors and the Anchor Investors shall be entitled to
make no less than six (6) Block Trade demands in the aggregate in any such twelve (12) month period. For the avoidance of doubt, any Block Trade effected pursuant to this Section 2.5.1 shall not be counted as a demand for an
Underwritten Demand or an Underwritten Offering pursuant to Section 2.1.3 hereof. 
 2.5.2 The Demanding Holder in a Block Trade shall
have the right to select the Underwriters for such Block Trade (which shall consist of one or more reputable nationally recognized investment banks). 

2.6 Rule 415; Removal. If at any time the Commission takes the position that the offering of some or all of the Registrable Securities
in a Registration Statement on Form S-3 filed pursuant to this Section 2 is not eligible to be made on a delayed or continuous basis under the provisions of Rule 415 under the
Securities Act (provided, however, the Company shall be obligated to use diligent efforts to advocate with the Commission for the registration of all of the Registrable Securities in accordance with the Commission Guidance, including without
limitation, Compliance and Disclosure Interpretation 612.09) or requires a BowX Investor, Anchor Investor or Windmill Investor to be named as an “underwriter,” the Company shall (i) promptly notify each Holder of Registrable
Securities thereof (or in the case of the Commission requiring a BowX Investor, Anchor Investor or Windmill Investor to be named as an “underwriter,” the BowX Investor, Anchor Investor or Windmill Investor) and (ii) use reasonable
best efforts to persuade the Commission that the offering contemplated by such Registration Statement is a valid secondary offering and not an offering “by or on behalf of the issuer” as defined in Rule 415 and that none of the BowX
Investors, Anchor Investors or Windmill Investors is an “underwriter.” The Holders shall have the right to select one legal counsel designated by the Holders of a majority of the Registrable Securities subject to such Registration
Statement to review and oversee any registration or matters pursuant to this Section 2.6, including participation in any meetings or discussions with the Commission regarding the Commission’s position and to comment on
any written submission made to the Commission with respect thereto. No such written submission with respect to this matter shall be made to the Commission to which the applicable Holders’ counsel reasonably objects. In the event that, despite
the Company’s reasonable best efforts and compliance with the terms of this Section 2.6, the Commission refuses to alter its position, the Company shall (i) remove from such Registration Statement such portion of
the Registrable Securities (the “Removed Shares”) and/or (ii) agree to such restrictions and limitations on the registration and resale of the Registrable Securities as the Commission may require to assure the Company’s
compliance with the requirements of Rule 415; provided, however, that the Company shall not agree to name any BowX Investor, Anchor Investor or Windmill Investor as an “underwriter” in such Registration Statement without the prior written
consent of such BowX Investor, Anchor Investor or Windmill Investor, as applicable. In the event of a share removal pursuant to this Section 2.6, 

  
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the Company shall give the applicable Holders at least five (5) days prior written notice along with the calculations as to such Holder’s allotment. Any removal of shares of the Holders
pursuant to this Section 2.6 shall (A) first be applied to Holders other than the BowX Investors, Anchor Investors or Windmill Investors with securities registered for resale under the applicable Registration
Statement, (B) second be applied to the Anchor Investors with securities registered for resale under the applicable Registration Statement and (C) thereafter allocated between the BowX Investors and Windmill Investors on a Pro Rata basis
based on the aggregate amount of Registrable Securities held by the BowX Investors, Anchor Investors or Windmill Investors. In the event of a share removal of the Holders pursuant to this Section 2.6, the Company shall
promptly register the resale of any Removed Shares pursuant to subsection 2.1.2 hereof and in no event shall the filing of such Registration Statement on Form S-1 or subsequent Registration Statement on
Form S-3 filed pursuant to the terms of subsection 2.1.2 be counted as a Underwritten Demand hereunder. Until such time as the Company has registered all of the Removed Shares for resale pursuant to
Rule 415 on an effective Registration Statement, the Company shall not be able to defer the filing of a Registration Statement pursuant to Section 2.3. 

In the case of a Form S-1 Registration Statement filed to register the resale of Removed Shares, upon such date as the
Company becomes eligible to register all of the Removed Shares for resale on a Form S-3 Shelf pursuant to the Commission Guidance and, if applicable, without a requirement that any of the BowX Investors,
Anchor Investors or Windmill Investors be named as an “underwriter” therein, the Company shall use commercially reasonable efforts to file a Form S-3 Shelf as promptly as practicable to replace the
applicable Form S-1 Registration Statement and have the Form S-3 Shelf declared effective as promptly as practicable and to cause such Form S-3 Shelf to remain effective, and to be supplemented and amended to the extent necessary to ensure that such Registration Statement is available or, if not available, that another Registration Statement is
available, for the resale of all the Registrable Securities thereunder held by the applicable Holders until all such Registrable Securities have ceased to be Registrable Securities. 

ARTICLE III 
 COMPANY PROCEDURES

 3.1 General Procedures. If the Company is required to effect the Registration of Registrable Securities, the Company shall use
commercially reasonable efforts to effect such Registration to permit the sale of such Registrable Securities in accordance with the intended plan of distribution thereof, and pursuant thereto the Company shall: 

3.1.1 prepare and file with the Commission within thirty (30) days a Registration Statement with respect to such Registrable Securities
and use commercially reasonable efforts to cause such Registration Statement to become effective and remain effective until all Registrable Securities covered by such Registration Statement are sold in accordance with the intended plan of
distribution set forth in such Registration Statement or have ceased to be Registrable Securities; 
 3.1.2 prepare and file with the
Commission such amendments and post-effective amendments to the Registration Statement, and such supplements to the Prospectus, as may be reasonably requested by any Holder of Registrable Securities or as may be required by the rules, regulations or
instructions applicable to the registration form used by the Company or by the Securities Act or rules and regulations thereunder to keep the Registration Statement effective until all Registrable Securities covered by such Registration Statement
are sold in accordance with the intended plan of distribution set forth in such Registration Statement or supplement to the Prospectus or have ceased to be Registrable Securities; 

3.1.3 prior to filing a Registration Statement or the Prospectus, or any amendment or supplement thereto, furnish without charge to the
Underwriters, if any, and each Holder of Registrable Securities included in such Registration, and such Holder’s legal counsel, copies of such Registration Statement as proposed to be filed, each amendment and supplement to such Registration
Statement (in each case including all exhibits thereto and documents incorporated by reference therein), the Prospectus included in such Registration Statement (including each preliminary Prospectus), and such other documents as the Underwriters and
each Holder of Registrable Securities included in such 

  
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Registration or the legal counsel for any such Holders may reasonably request in order to facilitate the disposition of the Registrable Securities owned by such Holders; provided that the Company
shall have no obligation to furnish any documents publicly filed or furnished with the Commission pursuant to the Electronic Data Gathering, Analysis and Retrieval System (“EDGAR”); 

3.1.4 prior to any Underwritten Offering of Registrable Securities, use commercially reasonable efforts to (i) register or qualify the
Registrable Securities covered by the Registration Statement under such securities or “blue sky” laws of such jurisdictions in the United States as any Holder of Registrable Securities included in such Registration Statement (in light of
their intended plan of distribution) may request to the extent such registration or qualification is required by applicable law and (ii) take such action necessary to cause such Registrable Securities covered by the Registration Statement to be
registered with or approved by such other governmental authorities as may be necessary by virtue of the business and operations of the Company and do any and all other acts and things that may be necessary or advisable, in each case, to enable the
Holders of Registrable Securities included in such Registration Statement to consummate the disposition of such Registrable Securities in such jurisdictions; provided, however, that the Company shall not be required to qualify
generally to do business in any jurisdiction where it would not otherwise be required to qualify or take any action to which it would be subject to general service of process or taxation in any such jurisdiction where it is not then otherwise so
subject; 
 3.1.5 cause all such Registrable Securities to be listed on each securities exchange or automated quotation system on which
similar securities issued by the Company are then listed; 
 3.1.6 provide a transfer agent or warrant agent, as applicable, and registrar
for all such Registrable Securities no later than the effective date of such Registration Statement; 
 3.1.7 promptly furnish to each
seller of Registrable Securities covered by such Registration Statement such number of conformed copies of such Registration Statement and of each such amendment and supplement thereto (in each case including all exhibits), such number of copies of
the Prospectus contained in such Registration Statement (including each preliminary Prospectus and any summary Prospectus) and any other Prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities
Act, and such other documents as such seller may reasonably request; 
 3.1.8 advise each seller of such Registrable Securities, promptly
after it shall receive notice or obtain knowledge thereof, of any request by the Commission that the Company amend or supplement such Registration Statement or Prospectus or the issuance of any stop order by the Commission suspending the
effectiveness of such Registration Statement or Prospectus the initiation or threatening of any proceeding for such purpose and promptly use commercially reasonable efforts to amend or supplement such Registration Statement or Prospectus or prevent
the issuance of any stop order or to obtain its withdrawal if such stop order should be issued, as applicable; 
 3.1.9 advise each Holder
of Registrable Securities covered by such Registration Statement, promptly after the Company receives notice thereof, of the time when such registration statement has been declared effective or a supplement to any Prospectus forming a part of such
registration statement has been filed; 
 3.1.10 at least five (5) days prior to the filing of any Registration Statement or Prospectus
or any amendment or supplement to such Registration Statement or Prospectus (or such shorter period of time as may be (a) necessary in order to comply with the Securities Act, the Exchange Act, and the rules and regulations promulgated under
the Securities Act or Exchange Act, as applicable or (b) advisable in order to reduce the number of days that sales are suspended pursuant to Section 3.4), furnish a copy thereof to each seller of such Registrable
Securities or its counsel (excluding any exhibits thereto and any filing made under the Exchange Act that is to be incorporated by reference therein); 

3.1.11 as promptly as practicable, notify the Holders at any time when a Prospectus relating to such Registration Statement is required to be
delivered under the Securities Act, of the happening of any event or the existence of any condition as a result of which the Prospectus included in such Registration Statement, as then in effect, includes a Misstatement, and then to correct such
Misstatement as set forth in Section 3.4, at the request of any such Holder promptly prepare and furnish to such Holder a reasonable number of copies of a supplement to or an amendment of such Prospectus as may be necessary
so that, as thereafter delivered to the purchasers of such securities, such Prospectus shall not include a Misstatement or such Prospectus, as supplemented or amended, shall comply with law; 

  
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 3.1.12 in the event of an Underwritten Offering, permit a representative of the Holders, if
any, and any attorney or accountant retained by such Holders or Underwriter(s) to participate, at each such person’s or entity’s own expense, in the preparation of the Registration Statement, and cause the Company’s officers,
directors and employees to supply all information reasonably requested by any such representative, Underwriter, financial institution, attorney, consultant or accountant in connection with the Registration; provided, however, that such
representatives, Underwriters or financial institutions agree to confidentiality arrangements in form and substance reasonably satisfactory to the Company, prior to the release or disclosure of any such information; 

3.1.13 obtain a “cold comfort” letter from the Company’s independent registered public accountants in the event of an
Underwritten Offering in customary form and covering such matters of the type customarily covered by “cold comfort” letters as the managing Underwriter may reasonably request, and reasonably satisfactory to a
majority-in-interest of the participating Holders; 
 3.1.14
in the event of an Underwritten Offering, on the date the Registrable Securities are delivered for sale pursuant to such Registration, obtain an opinion, dated such date, of counsel representing the Company for the purposes of such Registration,
addressed to the participating Holders, the placement agents or sales agent, if any, and the Underwriters, if any, covering such legal matters with respect to the Registration in respect of which such opinion is being given as the participating
Holders, placement agent, sales agent or Underwriter may reasonably request and as are customarily included in such opinions and negative assurance letters; 

3.1.15 in the event of any Underwritten Offering, enter into and perform its obligations under an underwriting agreement, in usual and
customary form, with the managing Underwriter of such offering; 
 3.1.16 make available to its security holders, as soon as reasonably
practicable, an earnings statement covering the period of at least twelve (12) months beginning with the first day of the Company’s first full calendar quarter after the effective date of the Registration Statement which satisfies the
provisions of Section 11(a) of the Securities Act, including Rule 158 thereunder (or any successor rule promulgated thereafter by the Commission); 

3.1.17 use commercially reasonable efforts to make available senior executives of the Company to participate in customary “road
show” presentations that may be reasonably requested by the Underwriter(s) in any Underwritten Offering; and 
 3.1.18 otherwise, in
good faith, cooperate reasonably with, and take such customary actions as may reasonably be requested by the participating Holders, consistent with the terms of this Agreement, in connection with such Registration. 

Notwithstanding the foregoing, the Company shall not be required to provide any documents or information to an Underwriter, broker, sales agent or placement
agent if such Underwriter, broker, sales agent or placement agent has not then been named with respect to the applicable Underwritten Offering or other offering involving a registration as an Underwriter, broker, sales agent or placement agent, as
applicable. 
 3.2 Registration Expenses. The Registration Expenses of all Registrations shall be borne by the Company. It is
acknowledged by the Holders that the Holders shall bear all incremental selling expenses relating to the sale of Registrable Securities, such as Underwriters’ commissions and discounts, brokerage fees, Underwriter marketing costs, and, other
than as set forth in the definition of “Registration Expenses,” all reasonable fees and expenses of any legal counsel representing any Holder. 

  
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 3.3 Participation in Underwritten Offering. 

3.3.1 No person or entity may participate in any Underwritten Offering for equity securities of the Company pursuant to a Registration
initiated by the Company hereunder unless such person or entity (i) agrees to sell such person’s or entity’s securities on the basis provided in any underwriting arrangements approved by the Company and (ii) completes and
executes all customary questionnaires, powers of attorney, indemnities, lock-up agreements, underwriting agreements and other customary documents as may be reasonably required under the terms of such
underwriting arrangements. 
 3.4 Suspension of Sales; Adverse Disclosure; Restriction on Registration Rights. 

3.4.1 Upon receipt of written notice from the Company that a Registration Statement or Prospectus contains a Misstatement, each of the Holders
shall forthwith discontinue disposition of Registrable Securities until it has received copies of a supplemented or amended Prospectus correcting the Misstatement (it being understood that the Company hereby covenants to prepare and file such
supplement or amendment as soon as practicable after the time of such notice such that the Registration Statement or Prospectus, as so amended or supplemented, as applicable, will not include a Misstatement), or until it is advised in writing by the
Company that the use of the Prospectus may be resumed. 
 3.4.2 Subject to Section 3.4.4, if the filing, initial
effectiveness or continued use of a Registration Statement in respect of any Registration at any time would require the Company to make an Adverse Disclosure or would require the inclusion in such Registration Statement of financial statements that
are unavailable to the Company for reasons beyond the Company’s control, the Company may, upon giving prompt written notice of such action to the Holders, delay the filing or initial effectiveness of, or suspend use of, such Registration
Statement for the shortest period of time, but in no event more than thirty (30) days, determined in good faith by the Company to be necessary for such purpose. In the event the Company exercises its rights under the preceding sentence, the
Holders agree to suspend, immediately upon their receipt of the notice referred to above, their use of the Prospectus relating to any Registration in connection with any sale or offer to sell Registrable Securities. The Company shall immediately
notify the Holders of the expiration of any period during which it exercised its rights under this Section 3.4.2. 

3.4.3 (a) During the period starting with the date thirty (30) days prior to the Company’s good faith estimate of the date of the
filing of, and ending on a date ninety (90) after the effective date of, a Company-initiated Registration and provided that the Company continues to actively employ, in good faith, all reasonable efforts to maintain the effectiveness of the
applicable shelf Registration Statement, the Company may, upon giving prompt written notice of such action to the Holders, delay any other registered offering pursuant to Section 2.4 and, (b) during the period starting with the
date fifteen (15) days prior to the Company’s good faith estimate of the date of the filing of, and ending on a date forty five (45) days after the effective date of, a Company-initiated Registration, and provided that the Company
continues to actively employ, in good faith, all reasonable efforts to maintain the effectiveness of the applicable shelf Registration Statement, the Company may, upon giving prompt written notice of such action to the Holders, delay any other
registered offering pursuant to Section 2.4. 
 3.4.4 The right to delay or suspend any filing, initial effectiveness or
continued use of a Registration Statement pursuant to Section 3.4.2 or registered offering pursuant to Section 3.4.3 shall be exercised by the Company, in the aggregate, on not more than two occasions or for more
than sixty (60) consecutive calendar days, or more than one hundred and twenty (120) total calendar days, in each case during any twelve-month period. 

3.5 Covenants of the Company. As long as any Holder shall own Registrable Securities, the Company hereby covenants and agrees: 

3.5.1 at all times while it shall be a reporting company under the Exchange Act, covenants to file timely (or obtain extensions in respect
thereof and file within the applicable grace period) all reports required to be filed by the Company after the date hereof pursuant to Sections 13(a) or 15(d) of the Exchange Act. The Company further covenants that it shall take such further action
as any Holder may reasonably request, all to the extent required from time to time to enable such Holder to sell shares of Class A Common Stock held by such Holder without registration under the Securities Act within the limitation of the
exemptions provided by Rule 144 promulgated under the Securities Act, including providing any legal opinions. Upon the request of any Holder, the Company shall deliver to such Holder a written certification of a duly authorized officer as to whether
it has complied with such requirements; and 

  
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 3.5.2 reasonably promptly following the effectiveness of the shelf registration statement
required by subsection 2.1.1, the Company shall cause the transfer agent to remove any restrictive legends (including any electronic transfer restrictions) from any Class A Common Stock or Private Placement Warrants held by such Holder
and provide or cause any customary opinions of counsel to be delivered to the transfer agent in connection with such removal. The Company shall be responsible for the fees of the transfer agent associated with such issuance. 

3.6 [Reserved]. 
 ARTICLE
IV 
 INDEMNIFICATION AND CONTRIBUTION 

4.1 Indemnification. 

4.1.1 The Company agrees to indemnify, to the extent permitted by law, each Holder of Registrable Securities, its officers and directors and
each person who controls such Holder (within the meaning of the Securities Act) against all losses, claims, damages, liabilities and expenses (including attorneys’ fees) caused by (i) any untrue or alleged untrue statement of material fact
contained in any Registration Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements
therein not misleading, except insofar as the same are caused by or contained in any information furnished in writing to the Company by such Holder expressly for use therein and (ii) any violation or alleged violation by the Company of the
Securities Act, Exchange Act or any state securities law or any rule or regulation thereunder, in connection with the performance of its obligations under this Article IV; provided, that the indemnification contained in this Article
IV shall not apply to amounts paid in settlement of any losses, claims, damages, liabilities and expenses (including attorneys’ fees) if such settlement is effected without the consent of the Company (which consent shall not be unreasonably
withheld, conditioned or delayed). The Company shall indemnify the Underwriters, their officers and directors and each person who controls such Underwriters (within the meaning of the Securities Act) to the same extent as provided in the foregoing
with respect to the indemnification of the Holder. 
 4.1.2 In connection with any Registration Statement in which a Holder of Registrable
Securities is participating, such Holder shall furnish (or cause to be furnished) to the Company in writing such information and affidavits as the Company reasonably requests for use in connection with any such Registration Statement or Prospectus
and, to the extent permitted by law, shall indemnify the Company, its directors and officers and agents and each person who controls the Company (within the meaning of the Securities Act) against any losses, claims, damages, liabilities and expenses
(including without limitation reasonable and documented attorneys’ fees) resulting from any untrue statement of material fact contained in the Registration Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement
thereto or any omission of a material fact required to be stated therein or necessary to make the statements therein not misleading, but only to the extent that such untrue statement or omission is contained in any information or affidavit so
furnished in writing by such Holder expressly for use therein. The Holders of Registrable Securities shall indemnify the Underwriters, their officers, directors and each person who controls such Underwriters (within the meaning of the Securities
Act) to the same extent as provided in the foregoing with respect to indemnification of the Company. For the avoidance of doubt, the obligation to indemnify under this Section 4.1.2 shall be several, not joint and several,
among the Holders of Registrable Securities, and the total liability of a Holder under this Section 4.1.2 shall be in proportion to and limited to the net proceeds received by such Holder from the sale of Registrable
Securities pursuant to such Registration Statement. 
 4.1.3 Any person entitled to indemnification herein shall (a) give prompt
written notice to the indemnifying party of any claim with respect to which it seeks indemnification (provided that the failure to give prompt notice shall not impair any person’s right to indemnification hereunder to the extent such failure
has not materially prejudiced the indemnifying party) and (b) unless in such indemnified party’s reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist with respect to such claim, permit such
indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party. After notice from the indemnifying party to the indemnified party of its election to assume the defense of such 

  
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claim or action, the indemnifying party shall not be liable to the indemnified party under this Article IV for any legal or other expenses subsequently incurred by the indemnified party in
connection with the defense thereof other than reasonable costs of investigation, unless (a) such indemnified party reasonably objects to such assumption on the grounds that there may be defenses available to it which are different from or in
addition to the defenses available to such indemnifying party, (b) the indemnifying party shall have failed within a reasonable period of time to assume such defense or, having assumed such defense, has not conducted the defense of such claim
actively and diligently or (c) the named parties in any such proceeding (including any impleaded parties) include both the indemnified party and the indemnifying party and representation of both parties by the same counsel would be
inappropriate due to actual or potential differing interest between them, in which case the indemnified party shall be promptly reimbursed by the indemnifying party for the expenses incurred in connection with retaining one separate legal counsel,
in addition to any local counsel (for the avoidance of doubt, for all indemnified parties in connection therewith)). If such defense is assumed, (i) the indemnifying party shall keep the indemnified party informed as to the status of such claim
at all stages thereof (including all settlement negotiations and offers), promptly submit to such indemnified party copies of all pleadings, responsive pleadings, motions and other similar legal documents and paper received or filed in connection
therewith, permit such indemnified party and their respective counsels to confer with the indemnifying party and its counsel with respect to the conduct of the defense thereof, and permit indemnified party and its counsel a reasonable opportunity to
review all legal papers to be submitted prior to their submission and (ii) the indemnifying party shall not be subject to any liability for any settlement made by the indemnified party without its consent (but such consent shall not be
unreasonably withheld). In any action hereunder as to which the indemnifying party has assumed the defense thereof with counsel satisfactory to the indemnified party, the indemnified party shall continue to be entitled to participate in the defense
thereof, with counsel of its own choice, but the indemnifying party shall not be obligated hereunder to reimburse the indemnified party for the costs thereof. No indemnifying party shall, without the prior written consent of the indemnified party,
consent to the entry of any judgment or enter into any settlement which cannot be settled in all respects by the payment of money (and such money is so paid by the indemnifying party pursuant to the terms of such settlement) or which settlement
includes a statement or admission of fault, culpability or failure to act on the part of such indemnified party or which settlement does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party
of a release from all liability in respect to such claim or litigation that shall be in form and substance satisfactory to such indemnified party. 

4.1.4 The indemnification provided for under this Agreement shall remain in full force and effect regardless of any investigation made by or
on behalf of the indemnified party or any officer, director or controlling person of such indemnified party and shall survive the transfer of securities. 

4.1.5 If the indemnification provided under this Section 4.1 hereof from the indemnifying party is unavailable or
insufficient to hold harmless an indemnified party in respect of any losses, claims, damages, liabilities and expenses referred to herein, then the indemnifying party, in lieu of indemnifying the indemnified party, shall contribute to the amount
paid or payable by the indemnified party as a result of such losses, claims, damages, liabilities and expenses in such proportion as is appropriate to reflect the relative fault of the indemnifying party and the indemnified party, as well as any
other relevant equitable considerations. The relative fault of the indemnifying party and indemnified party shall be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement of
a material fact or omission or alleged omission to state a material fact, was made by, or relates to information supplied by, such indemnifying party or indemnified party, and the indemnifying party’s and indemnified party’s relative
intent, knowledge, access to information and opportunity to correct or prevent such action; provided, however, that the liability of any Holder under this subsection 4.1.5 shall be limited to the amount of the net proceeds
received by such Holder in such offering giving rise to such liability. The amount paid or payable by a party as a result of the losses or other liabilities referred to above shall be deemed to include, subject to the limitations set forth in
subsections 4.1.1, 4.1.2 and 4.1.3 above, any legal or other fees, charges or expenses reasonably incurred by such party in connection with any investigation or proceeding. The parties hereto agree that it would not be just and
equitable if contribution pursuant to this subsection 4.1.5 were determined by Pro Rata allocation or by any other method of allocation, which does not take account of the equitable considerations referred to in this subsection 4.1.5.
No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution pursuant to this subsection 4.1.5 from any person who was not guilty of such fraudulent
misrepresentation. 

  
 16 

 ARTICLE V 

MISCELLANEOUS 
 5.1
Notices. Any notice or communication under this Agreement must be in writing and given by (a) deposit in the United States mail, addressed to the party to be notified, postage prepaid and registered or certified with return receipt
requested, (b) delivery in person or by courier service providing evidence of delivery, or (c) transmission by hand delivery, electronic mail or facsimile. Each notice or communication that is mailed, delivered, or transmitted in the
manner described above shall be deemed sufficiently given, served, sent, and received, in the case of mailed notices, on the third business day following the date on which it is mailed and, in the case of notices delivered by courier service, hand
delivery, electronic mail, telecopy, telegram or facsimile, at such time as it is delivered to the addressee (with the delivery receipt or the affidavit of messenger) or at such time as delivery is refused by the addressee upon presentation. Any
notice or communication under this Agreement must be addressed, if to the Company, to: WeWork Inc., 45 W. 18th Street, Floor 6, New York, NY 10011, Attention: Chief Legal Officer, Email: legal@wework.com and, if to any Holder, at such Holder’s
address or facsimile number as set forth in the Company’s books and records. Any party may change its address for notice at any time and from time to time by written notice to the other parties hereto, and such change of address shall become
effective thirty (30) days after delivery of such notice as provided in this Section 6.1. 
 5.2 Assignment; No Third Party
Beneficiaries. 
 5.2.1 This Agreement and the rights, duties and obligations of the Company and the Holder of Registrable Securities,
as the case may be, hereunder may not be assigned or delegated by the Company or the Holders of Registrable Securities, as the case may be, in whole or in part, except in connection with a transfer of Registrable Securities by such Holder to a
Permitted Transferee but only if such Permitted Transferee agrees to become bound by this Agreement and any Lock-Up Period applicable to such Registrable Securities. 

5.2.2 Prior to the expiration of any Lock-Up Period, no Holder subject to any such Lock-Up Period may assign or delegate such Holder’s rights, duties or obligations under this Agreement, in whole or in part, in violation of the applicable Lock-Up
Period, except in connection with a transfer of Registrable Securities by such Holder to a Permitted Transferee but only if such Permitted Transferee agrees to become bound by this Agreement and any Lock-Up
Period applicable to such Registrable Securities. 
 5.2.3 This Agreement and the provisions hereof shall be binding upon and shall inure to
the benefit of each of the parties and its successors and the permitted assigns of the Holders, which shall include Permitted Transferees. 

5.2.4 This Agreement shall not confer any rights or benefits on any persons that are not parties hereto, other than as expressly set forth in
this Agreement and this Section 5.2. 
 5.2.5 No assignment by any party hereto of such party’s rights,
duties and obligations hereunder shall be binding upon or obligate the Company unless and until the Company shall have received (i) written notice of such assignment as provided in Section 5.1 hereof and (ii) the
written agreement of the assignee, in a form reasonably satisfactory to the Company, to be bound by the terms and provisions of this Agreement (which may be accomplished by an addendum or certificate of joinder to this Agreement). Any transfer or
assignment made other than as provided in this Section 5.2 shall be null and void. 
 5.3 Counterparts. This
Agreement may be executed in multiple counterparts (including facsimile or PDF counterparts), each of which shall be deemed an original, and all of which together shall constitute the same instrument, but only one of which need be produced. 

5.4 Governing Law; Venue. THE PARTIES EXPRESSLY AGREE THAT (I) THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED UNDER THE LAWS OF
THE STATE OF NEW YORK AND (II) THE VENUE FOR ANY ACTION TAKEN WITH RESPECT TO THIS AGREEMENT SHALL BE ANY STATE OR FEDERAL COURT IN NEW YORK COUNTY IN THE STATE OF NEW YORK. 

  
 17 

 5.5 Amendments and Modifications. Upon the written consent of the Company and the
Holders of at least a majority in interest of the Registrable Securities at the time in question, compliance with any of the provisions, covenants and conditions set forth in this Agreement may be waived, or any of such provisions, covenants or
conditions may be amended or modified; provided, however, that notwithstanding the foregoing, any amendment hereto or waiver hereof that adversely affects one Holder or group of affiliated Holders, solely in its capacity as a holder of the shares of
capital stock of the Company, in a manner that is materially different from the other Holders (in such capacity) shall require the consent of the Holder or group of affiliated Holders so affected and (b) any amendment hereto or waiver hereof
that adversely affects the rights of any Anchor Investor shall require the consent of such entity. No course of dealing between any Holder or the Company and any other party hereto or any failure or delay on the part of a Holder or the Company in
exercising any rights or remedies under this Agreement shall operate as a waiver of any rights or remedies of any Holder or the Company. No single or partial exercise of any rights or remedies under this Agreement by a party shall operate as a
waiver or preclude the exercise of any other rights or remedies hereunder or thereunder by such party. 
 5.6 Other Registration
Rights. Other than pursuant to the terms of the Subscription Agreements, the Company represents and warrants that no person, other than the Holders of the Registrable Securities, has any right to require the Company to register any shares of the
Company’s capital stock for sale or to include shares of the Company’s capital stock in any registration filed by the Company for the sale of shares of capital stock for its own account or for the account of any other person. Further, with
respect to the parties hereto, the Company represents and warrants that this Agreement supersedes any other registration rights agreement or agreement with similar terms and conditions and in the event of a conflict between any such agreement or
agreements and this Agreement, the terms of this Agreement shall prevail. For so long as at least five percent (5%) of the shares of Class A Common Stock outstanding as of the date of this Agreement remain outstanding and constitute Registrable
Securities, the Company hereby agrees and covenants that it will not grant rights to register any shares of Class A Common Stock or any other class or series of equity securities of the Company pursuant to the Securities Act that are more
favorable, pari passu or senior to those granted to the Holders hereunder without the prior written consent of the Holders of a majority of the total Registrable Securities. 

5.7 Term. This Agreement shall terminate, with respect to any Holder, on the date that such Holder no longer holds any Registrable
Securities. The provisions of Sections 3.2 and 3.5 and Articles IV and V shall survive any termination. 

5.8 Specific Performance. Each of the parties acknowledges and agrees that the other parties would be damaged irreparably in the event
any of the provisions of this Agreement are not performed in accordance with their specific terms or otherwise are breached or violated. Accordingly, to the fullest extent permitted by law, each of the parties agrees that, without posting bond or
other undertaking, the other parties will be entitled to an injunction or injunctions to prevent breaches or violations of the provisions of this Agreement and to enforce specifically this Agreement and the terms and provisions hereof in any action,
claim or suit in addition to any other remedy to which it may be entitled, at law or in equity. Each party further agrees that, in the event of any action for specific performance in respect of such breach or violation, it will not assert that the
defense that a remedy at law would be adequate. 
 5.9 Entire Agreement. This Agreement constitutes the entire understanding and
agreement between the parties as to the matters covered herein and supersedes and replaces any prior understanding, agreement or statement of intent, in each case, written or oral, of any and every nature with respect thereto. 

5.10 Severability. This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof
shall not affect the validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of
this Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible that is valid and enforceable. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 18 

 IN WITNESS WHEREOF, the parties have caused this Registration Rights Agreement to be
executed and delivered by their duly authorized representatives as of the date first written above. 
  

			
	COMPANY:
	
	WEWORK INC.

 
			
		
	By:	 	  

 
			
	Name:	 	
	Title:	 	

			
	BOWX INVESTORS:
	
	BOWX SPONSOR, LLC
		
	By:	 	
                     
    

	Name: 
	Title: 

  

	
	  

	
	
	  

	
	
	  

	
	
	  

	
	
	  

	
	
	  

	
	
	  

	
	
	  

	
	
	  

	
	
	  

	
	
	  

	

  
 20 

			
	BLACKROCK CREDIT ALPHA MASTER FUND L.P.
	
	By: BlackRock Financial Management, Inc., in its capacity as investment advisor
		
	By:	 	
                     

	Name:
	Title:
	
	HC NCBR FUND
	
	By: BlackRock Financial Management, Inc., in its capacity as investment advisor
		
	By:	 	
                     
    

	Name:
	Title:

  
 21 

			
	ANCHOR INVESTORS
	
	SOF-X WW HOLDINGS, L.P.
	
	By: SOF-X WW Holdings GP, L.L.C.
		
	By:	 	
                     
    

	Name:
	Title:
	
	SOF-XI WW HOLDINGS, L.P.
	
	By: SOF-XI WW Holdings GP, L.L.C.
		
	By:	 	
                 

	Name:
	Title:
	
	[INSIGHT ENTITY]
		
	By:	 	
		
	By:	 	
                 

	Name:
	Title:

  
 22 

 WINDMILL INVESTORS: 

[Major Stockholders] 

  
 23EX-10.7

 Exhibit 10.7 

Execution Version 
 SOFTBANK GROUP
CORP. 
 1-7-1 Kaigan 

Minato-ku 

Tokyo, 105-7537 

Japan 
 PERSONAL AND CONFIDENTIAL 

March 25, 2021 
 WeWork Companies LLC 

115 W. 18th Street, 2nd Floor 
 New York, New York 10011 

Attention: Sandeep Mathrani, Chief Executive Officer 
 E-mail: sandeep@wework.com 
 BowX Acquisition Corp. 

2400 Sand Hill Road, Suite 200 
 Menlo Park, California 94025

 Attention: Vivek Ranadive 

                 Murray Rode 

Email:     vivek@bowcapital.com 

               murray@bowcapital.com

Letter Agreement 
 Ladies and Gentlemen:

 Reference is hereby made to (i) that certain Credit Agreement, dated as of December 27, 2019 (as amended by that certain First
Amendment to the Credit Agreement, dated as of February 10, 2020, and by that certain Second Amendment to the Credit Agreement and First Amendment to the Security Agreement, dated as of April 1, 2020, and as further amended, restated,
amended and restated, supplemented or otherwise modified from time to time prior to the date hereof, the “Credit Agreement”), by and among WeWork Companies, LLC, a Delaware limited liability company (the “WeWork
Obligor”), SoftBank Group Corp., a Japanese joint-stock company (the “SoftBank Obligor” and, together with the WeWork Obligor, each an “Obligor” and, collectively, the “Obligors”), the
Issuing Creditors and L/C Participants from time to time party thereto and Goldman Sachs International Bank, as administrative agent (the “Administrative Agent”), and (ii) that certain Reimbursement Agreement, dated as of
December 27, 2019 (as amended by that certain First Amendment to Reimbursement Agreement, dated as of April 1, 2020, and as further amended, restated, amended and restated, supplemented or otherwise modified from time to time prior to the
date hereof, the “Reimbursement Agreement”), by and between the WeWork Obligor and the SoftBank Obligor. Capitalized terms used but not otherwise defined in this letter agreement (this “Letter Agreement”) shall have
the respective meanings given to them in the Credit Agreement or the Reimbursement Agreement, as applicable. 

 1. Extension. 

Subject to the satisfaction of the conditions precedent set forth in Section 2 below and the acceptance by each of
the WeWork Obligor and BowX Acquisition Corp., a Delaware corporation (“BowX”), of this Letter Agreement by its execution below, the SoftBank Obligor hereby agrees: (i) to consent to the extension of the Termination Date until
no later than February 10, 2024 (such extension, the “Termination Date Extension” and, the date of the effectiveness of the Termination Date Extension, the “Extension Amendment Effective Date”) and (ii) to
continue to act as an Obligor under the Credit Agreement and to continue to provide its credit support in the form in which it is currently provided as of the date hereof in respect of the Obligations thereunder in accordance with the terms and
conditions of, and subject in all respects to its rights under, each of the Credit Agreement and Reimbursement Agreement. 
 2. Conditions. 

The SoftBank Obligor’s agreement to consent to the Termination Date Extension and agreement to continue to act as an Obligor under the
Credit Agreement until such extended Termination Date, as provided in Section 1 above, is subject to the satisfaction of the following conditions precedent: (i) the satisfaction or waiver of each condition precedent
set forth in the Acceptable Credit Agreement Extension Amendment (as defined below) by the WeWork Obligor, the Administrative Agent, the Issuing Creditors party thereto and L/C Participants party thereto (except to the extent any such condition
precedent is not satisfied by reason of the inaction of the SoftBank Obligor), (ii) the valid execution and delivery of the Acceptable Reimbursement Agreement Amendment (as defined below) by the WeWork Obligor, (iii) the consummation of the
merger contemplated by the Agreement and Plan of Merger dated as of March 25, 2021 by and among BowX, BowX Merger Subsidiary Corp., a Delaware corporation and WeWork, Inc., a Delaware corporation (the “BowX Acquisition”),
(iv) (x) to the extent required pursuant to Section 4.14(a)(10) of the Existing Senior Notes Indenture, the receipt by the trustee of the letter referred to in such section and (y) the Administrative Agent’s receipt of a
customary legal opinion as to no conflict of the Acceptable Credit Agreement Extension Amendment with the Existing Senior Notes Indenture and (v) the issuance and delivery by BowX of warrants to purchase shares of common stock of BowX to the
SoftBank Obligor or its designee (as further detailed in the term sheet attached hereto as Annex A (the “Term Sheet”)). 

“Acceptable Credit Agreement Extension Amendment” means the amendment of the Credit Agreement and the Credit Documents, on
terms no less favorable to the SoftBank Obligor in any material respect, when taken as a whole, as the terms set forth in the Credit Agreement and the Credit Documents (in each case in effect on the date hereof) (it being understood and agreed that
any amendment to any term of the Credit Agreement or any Credit Document relating any Creditor Party or any of its Affiliates with respect to Regulation S shall be deemed less favorable to the SoftBank Obligor unless agreed to by the SoftBank
Obligor in its sole and absolute discretion), but in any event which reflects the amended terms set forth on the Term Sheet and which extends the Termination Date to no later than February 10, 2024. 

“Acceptable Reimbursement Agreement Amendment” means the amendment of the Reimbursement Agreement, on terms no less favorable
to the SoftBank Obligor in any material respect, when taken as a whole, as the terms set forth in the Reimbursement Agreement (as in effect on the date hereof), but in any event to reflect the terms set forth on the Term Sheet. 

“Acceptable Extension Amendments” means, collectively, the Acceptable Credit Agreement Extension Amendment and the Acceptable
Reimbursement Agreement Amendment. 
 For the avoidance of doubt, it is understood and agreed that, (a) other than as set forth in this
Letter Agreement and on the Term Sheet, no amendment to the Credit Agreement, any Credit Document, the Reimbursement Agreement or any fee letter entered into in connection therewith that results in the increase of any fees, costs, expenses, interest
rate, margin or any other amount payable under the Credit Agreement, any Credit Document, the Reimbursement Agreement or any fee letter in connection therewith, in each case, as in effect on the date hereof, shall constitute an Acceptable Credit
Agreement Extension Amendment 

  
 2 

 
or Acceptable Reimbursement Agreement Amendment, as applicable, unless such increase is required to be paid by the WeWork Obligor and is not required to be reimbursed by the SoftBank Obligor,
(b) the SoftBank Obligor shall have no obligation to (x) consent to the Termination Date Extension or (y) to continue to act as an Obligor under the Credit Agreement and to continue to provide its credit support in respect of the
Obligations thereunder after the Termination Date, in each case, unless the conditions precedent set forth in this Section 2 have been fully satisfied and (c) there are no conditions (implied or otherwise) to the
SoftBank Obligor’s agreement to consent to the Termination Date Extension and agreement to continue to act as an Obligor under the Credit Agreement until such extended Termination Date other than the conditions precedent set forth in clause (i)
– (v) of Section 2. 
 The SoftBank Obligor shall use commercially reasonable efforts to obtain the Acceptable Credit Agreement
Extension Amendment (including by satisfying any conditions precedent thereto applicable to the SoftBank Obligor). 
 The WeWork Obligor
shall use best endeavours to obtain the Acceptable Credit Agreement Extension Amendment (including by satisfying any conditions precedent thereto applicable to the WeWork Obligor). 

3. Miscellaneous. 
 This Letter Agreement
(including the Term Sheet) and its terms and substance may not be disclosed by any party hereto or any of its affiliates, officers, directors, employees, members, partners, stockholders, attorneys, accountants, agents and advisors (collectively,
“Related Persons”) to any third party or circulated or referred to publicly without the prior written consent of the other Obligor except (i) after providing written notice to each other party hereto to the extent lawfully
permitted, pursuant to a subpoena or order issued by a court of competent jurisdiction or by a judicial, administrative or legislative body or committee or otherwise as required by applicable law or regulation or as requested by a governmental
authority, (ii) to its respective Related Persons who are involved in the administration of the Credit Agreement and who have been informed by it of the confidential nature of this Letter Agreement, (iii) to the extent such information
becomes publicly available other than by reason of improper disclosure by it or its Related Persons in violation of any confidentiality obligations hereunder, (iv) on a confidential basis after, and subject to the occurrence of, the Extension
Amendment Effective Date for customary accounting purposes, including accounting for deferred financing costs (including to its auditors), (v) in any required filings with the Securities and Exchange Commission and other applicable regulatory
authorities and stock exchanges, (vi) any prospective equity or debt investor in connection with the BowX Acquisition who are informed of the confidential nature of this Letter Agreement (including the Term Sheet) and who are subject to
customary confidentiality restrictions and (vii) in connection with the exercise of remedies hereunder or any suit, action or proceeding relating to this Letter Agreement or any other agreement contemplated hereby or thereby or the enforcement
hereof or thereof. 
 Each party hereto for itself and its respective affiliates agrees that any suit or proceeding arising out of or relating to this
Letter Agreement or the transactions contemplated hereby or thereby, and agrees that all claims in respect of any such action or proceeding shall be heard and determined in any Federal court of the United States of America sitting in the Borough of
Manhattan or, if that court does not have subject matter jurisdiction, in any state court located in the City and County of New York, and each of the parties hereto hereby irrevocably and unconditionally submits, for itself and its property, to the
exclusive jurisdiction of, and to venue in, such court. Any right to trial by jury arising out of or relating to this Letter Agreement or the transactions contemplated hereby or thereby, or any matter referred to in this Letter Agreement is hereby
waived by each party hereto. Each party hereto for itself and its affiliates agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other 

  
 3 

 
jurisdictions by suit on the judgment or in any other manner provided by law. Service of any process, summons, notice or document by registered mail or overnight courier addressed to any party
hereto as provided for in Section 7.2 of the Reimbursement Agreement (or, in the case of BowX, to 2400 Sand Hill Road, Suite 200, Menlo Park, California 94025; Attention: Vivek Ranadive, Murray Rode; Email: vivek@bowcapital.com,
murray@bowcapital.com) shall be effective service of process against such party for any suit, action or proceeding brought in any such court. This Letter Agreement and any claim, controversy or dispute (whether in contract, tort or otherwise)
arising under or related to this Letter Agreement shall be governed by, and construed and interpreted in accordance with, the laws of the State of New York without regard to principles of conflicts of laws. 

It is understood and agreed that Section 7.5 of the Reimbursement Agreement is hereby incorporated by reference herein and shall apply
hereto, mutatis mutandis, as if this Letter Agreement were a Credit Document for all purposes thereunder. 
 This Letter Agreement
may be executed in any number of counterparts, each of which when executed will be an original, and all of which, when taken together, will constitute one agreement. Delivery of an executed counterpart of a signature page of this Letter Agreement by
facsimile transmission or electronic transmission (in .pdf format) will be effective as delivery of a manually executed counterpart hereof. The words “execution,” “signed,” “signature,” and words of like import herein
shall be deemed to include electronic signatures, digital copies of a signatory’s manual signature, and deliveries or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a
manually executed signature to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar
state laws based on the Uniform Electronic Transactions Act. This Letter Agreement may not be amended or any provision hereof waived or modified except by an instrument in writing signed by each of the parties hereto. 

[Remainder of page intentionally left blank] 

  
 4 

 
			
	Very truly yours,
	
	SOFTBANK GROUP CORP.

 
			
		
	By:	 	 /s/ Marcelo Claure

			
	Name:	 	Marcelo Claure
	Title:	 	Executive Vice President and COO

 [Signature Page to SBG-WW Letter Agreement (March 2021)] 

			
	 Acknowledged and agreed as of the date first written above.

 

	WEWORK COMPANIES LLC

			
		
	By:	 	 /s/ Jared DeMatteis

			
	Name:	 	Jared DeMatteis
	Title:	 	Chief Legal Officer and Secretary

 [Signature Page to SBG-WW Letter Agreement (March 2021)] 

			
	BOWX ACQUISITION CORP.

			
		
	By:	 	 /s/ Vivek Ranadivé

			
	Name:	 	Vivek Ranadivé
	Title:	 	Chairman and Co-Chief Executive Officer

 [Signature Page to SBG-WW Letter Agreement (March 2021)] 

 Annex A 

Acceptable Extension Amendments 

Certain Terms and Conditions 
  

			
	Obligors	  	Same as existing Credit Agreement.
		
	LC Facility	  	Same as existing Credit Agreement, a senior secured letter of credit facility in an aggregate principal amount not to exceed $1.75 billion (the “Facility”), available to the Obligors for the purpose of
obtaining Letters of Credit issued by the Administrative Agent and the Issuing Creditors.
		
	Extended Termination Date	  	No later than February 10, 2024.
		
	Upfront/Consent Fees	  	Any upfront fees, consent fees or other similar fees payable to the Issuing Creditors, the L/C Participants or the Arrangers in connection with the Acceptable Credit Agreement Extension Amendment will be negotiated between the
Administrative Agent, the Issuing Creditors and the L/C Participants party to the Acceptable Credit Agreement Extension Amendment, on the one hand, and the WeWork Obligor, on the other hand, and shall be paid by the WeWork Obligor and not paid or
reimbursed by the SoftBank Obligor.
		
	Issuance Fee	  	The issuance fee set forth in Section 3.3(a) of the Credit Agreement may be amended as negotiated between the Administrative Agent, the Issuing Creditors and L/C Participants party to the Acceptable Credit Agreement Extension
Amendment, on the one hand, and the SoftBank Obligor and the WeWork Obligor, on the other hand, which may be subject to a deemed minimum utilization percentage to be agreed, which fee shall continue to be paid by the SoftBank Obligor (such issuance
fee, as amended, the “Issuance Fee”).
		
	Commitment Fee	  	The SoftBank Obligor will continue to make payment of the fees described in Section 2.1(a) of the Credit Agreement (collectively, the “Commitment Fee”) and in accordance with Section 3.2(a) of the
Reimbursement Agreement; provided that any increase in the amount of the Commitment Fee as a result of the Acceptable Credit Agreement Extension Amendment shall instead be paid by the WeWork Obligor and not paid or reimbursed by the SoftBank
Obligor.
		
	Fronting Fee	  	The SoftBank Obligor will continue to make payment of the fees described in Section 3.3(b) of the Credit Agreement (the “Fronting Fees”) and the WeWork Obligor will continue to reimburse the SoftBank Obligor
for the amount of any Fronting Fees paid by the SoftBank Obligor not to exceed 0.125% per annum on the undrawn and unexpired amount of each Letter of Credit (after taking into account any deemed minimum utilization percentage) (such amount, the
“Existing Fronting Fee Reimbursement Amount”); provided, that from and after the Extension Amendment Effective Date, the WeWork Obligor shall reimburse the SoftBank Obligor in an amount equal to (x) the Existing Fronting Fee
Reimbursement Amount plus (y) the amount of any Fronting Fees paid by the SoftBank Obligor in excess of 0.415 % per annum on the undrawn and unexpired amount of each

			
		  	Letter of Credit (after taking into account any deemed minimum utilization percentage) on a weighted average basis.
		
	Fees to SoftBank Obligor	  	The fee to the SoftBank Obligor set forth in Section 3.1(a) of the Reimbursement Agreement will be amended such that the WeWork Obligor shall pay to the SoftBank Obligor a fee equal to (i) 2.875% of the face amount of Letters
of Credit issued under the Facility (drawn and undrawn), payable quarterly in arrears, plus (ii) the amount of any Issuance Fees payable under or pursuant to the Credit Agreement (as increased by any default interest owing in respect thereof
pursuant to Section 2.5(a) of the Credit Agreement).
		
	Costs and Expenses	  	The amount of any costs and expenses of the Administrative Agent, the Issuing Creditors and the L/C Participants permitted to be reimbursed by the Obligors will be amended as negotiated between the Administrative Agent, the Issuing
Creditors and L/C Participants party to the Acceptable Credit Agreement Extension Amendment, on the one hand, and the WeWork Obligor, on the other hand, and shall be paid by the WeWork Obligor and not reimbursed by the SoftBank Obligor.
		
		  	The amount of any costs and expenses of the SoftBank Obligor in respect of the Acceptable Extension Amendments and the other transactions related thereto shall be paid by the WeWork Obligor in accordance with Section 7.5 of the
Reimbursement Agreement as if each Acceptable Extension Amendment were a Credit Document for all purposes thereunder.
		
	Warrants	  	 In connection with, and immediately prior to the execution and effectiveness of, the Acceptable Extension Amendments and the transactions
related thereto, the SoftBank Obligor or its designee shall receive warrants to purchase common stock of BowX on the date of the effectiveness of the Acceptable Extension Amendments. For the avoidance of doubt, if the Extension Amendment Effective
Date does not occur, such warrants will not be issued.
  

•   Such whole number of shares of BowX Class A common stock (rounded to the nearest whole
share) equal to 14,431,991 multiplied by the Exchange Ratio (as defined in the Agreement and Plan of Merger, dated as of March 25, 2021 (as the same may be amended in accordance with its terms, the “Merger Agreement”), by and
among BowX Acquisition Corp., BowX Merger Subsidiary Corp. and WeWork Inc.).
  

•   Ten (10) year expiration.

 
 •   Such exercise price
(rounded to the nearest full cent) equal to $0.01 divided by the Exchange Ratio.
  

•   The warrant will be in the form attached hereto as Annex
A-I.

 Annex A-I 

Form of Warrant 
 (See
attached.) 

 Confidential 

EXECUTION VERSION 
 THIS WARRANT AND ANY
SHARES ACQUIRED UPON EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY APPLICABLE STATE SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED EXCEPT PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT FILED UNDER SUCH ACT OR QUALIFICATION OR EXEMPTION THEREFROM UNDER SAID ACT PURSUANT TO AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED. 

BOWX ACQUISITION CORP. 

WARRANT TO PURCHASE COMMON STOCK 
  

			
	Warrant No. [•]	  	[•], 2021

 THIS CERTIFIES THAT, for good and valuable consideration, and pursuant to the terms and conditions set
forth in this Warrant to Purchase Common Stock (as amended or otherwise modified from time to time, this “Warrant”), [[•] or its designee] (the “Initial Holder” and, together with any of its
successors, transferees or assignees, a “Holder”), is entitled to purchase the Exercise Shares (defined below) at the per share Exercise Price (defined below). 

A G R E E M E N T 
 1.
DEFINITIONS. As used herein, the following terms shall have the following respective meanings: 
 (a)
“Affiliate” means, with respect to any specified Person (i) any Person that directly or indirectly Controls, is Controlled by, or is under common Control with such specified Person and shall include, without limitation,
any general partner, managing member, officer or director of such Person or any venture capital fund, investment fund or account now or hereafter existing that is Controlled by one or more general partners or managing members of, or shares the same
management company or investment adviser with, or is otherwise affiliated with, such Person or (ii) if the specified Person is an individual, any member of the Immediate Family of the specified Person. 

(b) “Aggregate Exercise Price” is defined in Section 2.2(b) . 

(c) “Alternative Consideration” is defined in Section 4.5. 

(d) “Business Day” means any day other than (i) a Saturday or a Sunday or (ii) a day on which banking
institutions are authorized or required by law to be closed in New York, New York or Tokyo, Japan. 
 (e) “Cashless
Exercise” is defined in Section 2.3. 
 (f) “Change in Control” means (i) any
transaction or series of related transactions which results in a “person” or “group” (within the meaning of Section 13(d) and 14(d) of the Exchange Act) becoming the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of more than fifty percent (50%) of the outstanding voting securities of the Company having the right to vote for the election of members of the Board of
Directors of the Company, (ii) any reorganization, merger or consolidation of the Company, other than a transaction or series of related transactions in which the holders of the voting securities of the Company outstanding immediately prior to
such transaction or series of related transactions retain, immediately after such transaction or series of related transactions, at 

  
 1 

 
least a majority of the total voting power represented by the outstanding voting securities of the Company or such other surviving, resulting or purchasing entity or (iii) any sale, lease,
license or other disposition of all or substantially all of the assets of the Company. For the avoidance of doubt, the transactions contemplated by the Merger Agreement shall not constitute a Change in Control. 

(g) “Charter” means the Certificate of Incorporation of the Company, as it may be amended from time to time. 

(h) “Common Stock” means the Company’s Class A common stock, par value $0.0001 per share. 

(i) “Company” means BowX Acquisition Corp., a Delaware corporation, including such entity under any subsequent name.

 (j) “Control” or any grammatical variation thereof means the possession of, directly or indirectly, the power to
direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise. 

(k) “Equity Securities” of any Person means (a) in the case of a corporation, corporate stock; (b) in the
case of an association or business entity, any and all shares, interests, participations, rights or other equivalents (however designated) of corporate stock; (c) in the case of a partnership or limited liability company, partnership,
membership interests (whether general or limited) or shares in the capital of a company; and (d) any other interest or participation that confers on a Person the right to receive a share of profits and losses of, or distribution of assets of,
the issuing Person. 
 (l) “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

(m) “Exchange Ratio” has the meaning specified in the Merger Agreement. 

(n) “Exercise Equivalent Share” is defined in Section 2.3. 

(o) “Exercise Period” means the period commencing on the Issue Date and ending on the Expiration Date. 

(p) “Exercise Price” means $0.01 per share, divided by the Exchange Ratio (the exercise price per share, as so
determined, being rounded to the nearest full cent). (q) “Exercise Shares” means a number of fully paid and non-assessable shares of Common Stock (rounded to the nearest whole share)
equal to 14,431,991, multiplied by the Exchange Ratio, and issuable upon exercise of this Warrant. 
 (r) “Expiration
Date” means the tenth (10th) anniversary of the Issue Date. 
 (s)
“Extraordinary Dividend” is defined in Section 4.3. 
 (t) “fair value” is
defined in Section 2.4. 
 (u) “FIRPTA Side Letter” means that certain letter agreement relating
to FIRPTA Withholding by and between SB WW Holdings (Cayman) Limited and SVF Endurance (Cayman) Limited, on the one hand, and WeWork Inc. and BowX Acquisition Corp., on the other hand, dated March 25, 2021. 

  
 2 

 (v) “Fundamental Transaction” is defined in Section 4.5.

 (w) “Holder” is defined in the Preamble above, and includes any Holder of Exercise Shares. 

(x) “HSR Act” is defined in Section 2.7(b) . 

(y) “Immediate Family” (i) with respect to any individual, means his or her ancestors, spouse, issue (natural or
adopted), spouses of issue, Spousal Equivalent, siblings (natural or adopted), any trustee or trustees, including successor and additional trustees, of trusts principally for the benefit of any one or more of such individuals and/or one or more
Charitable Entities that is a permissible current or remainder beneficiary of such trust, and any entity or entities all of the beneficial owners of which are such trusts and/or such individuals, but (ii) with respect to a legal representative,
means the Immediate Family of the individual for whom such legal representative was appointed and (iii) with respect to a trustee, means the Immediate Family of the individuals who are the principal beneficiaries of the trust. As used herein, a
person is deemed to be a “Spousal Equivalent” provided the following circumstances are true: (i) irrespective of whether or not the relevant person and the Spousal Equivalent are the same sex, they are the sole spousal
equivalent of the other for the last twelve (12) months, (ii) they intend to remain so indefinitely, (iii) neither are married to anyone else, (iv) both are at least 18 years of age and mentally competent to consent to contract,
(v) they are not related by blood to a degree of closeness that would prohibit legal marriage in the state in which they legally reside, (vi) they are jointly responsible for each other’s common welfare and financial obligations, and
(vii) they have resided together in the same residence for the last twelve (12) months and intend to do so indefinitely; and “Charitable Entities” means any organization, foundation, impact investing enterprise,
public benefit entity or similar entity whose primary purpose is to preserve the natural environment, combat climate change or support any other environmental, educational or charitable cause. 

(z) “Independent Advisor” is defined in Section 4.7. 

(aa) “Initial Holder” is defined in the Preamble above. 

(bb) “Issue Date” means [•], 2021 (the date of the closing under the Merger Agreement). 

(cc) “Merger Agreement” means the Agreement and Plan of Merger, dated as of March [•], 2021, by and among the
Company, BowX Merger Subsidiary Corp. and WeWork, Inc. 
 (dd) “Notice of Exercise” is defined in
Section 2.2(a). 
 (ee) “Opt-Out Notice” is defined in
Section 2.8(b). 
 (ff) “Person” means any corporation, association, joint venture, partnership,
limited liability company, organization, business, individual, trust, other legal entity or natural person. 
 (gg) “Rule
144” means Rule 144 promulgated under the Securities Act. 
 (hh) “SEC” means the Securities and
Exchange Commission or any successor thereto. 
 (ii) “Securities Act” means the Securities Act of 1933, as amended.

  
 3 

 (jj) “Stockholders Agreement” means the Company’s Stockholders
Agreement, dated [•], 2021, as it may be amended or superseded from time to time. 
 (kk) “Unrestricted
Conditions” is defined in Section 9.4. 
 (ll) “Warrant” is defined in the Preamble above.

 (mm) “Warrant Register” is defined in Section 9.3. 

2. VESTING; EXERCISE OF WARRANT; ETC. 

2.1 Vesting. The right to acquire the Exercise Shares issuable upon exercise of this Warrant is immediately vested as of the
Issue Date.  
 2.2 Exercise of Warrant. The rights represented by this Warrant may be exercised in whole or in part at
any time during the Exercise Period by delivery of the following to the Company at its address set forth on the signature page hereto (or at such other address as it may designate by notice in writing to the Holder):  

(a) An executed Notice of Exercise (a “Notice of Exercise”) in the form attached hereto as
Attachment A; and 
 (b) Unless the Holder is exercising this Warrant by way of a Cashless Exercise pursuant to
Section 2.3, payment of the then-current Exercise Price per share multiplied by the number of Exercise Shares being purchased upon exercise of the Warrant (such amount, the “Aggregate Exercise Price”) in the form
of wire transfer of immediately available funds to a bank account designated by the Company. 
 2.3 Cashless Exercise. At any
time, the Holder may, in its sole discretion and in lieu of payment of the Aggregate Exercise Price in the manner specified in Section 2.2(b), elect to exercise all or any part of this Warrant in a “cashless” or “net-issue” exercise (a “Cashless Exercise”) by delivering to the Company a Notice of Exercise selecting a Cashless Exercise, as a result of which the Holder shall be entitled to
receive a number of fully paid and non-assessable Exercise Shares calculated using the following formula: 
  

									
		 	X	  	=	  	Y * (A-B)	  	
		 		  		  	A	  	

  

					
	where:	  	X=	  	the number of Exercise Shares to be issued to the Holder
			
		  	Y=	  	the number of Exercise Shares with respect to which this Warrant is being exercised
			
		  	A=	  	the fair value per share of a share of the Company’s capital stock that is of the same class as the Exercise Shares (an “Exercise Equivalent Share”) on the date of exercise of this Warrant
			
		  	B=	  	the then-current Exercise Price

  
 4 

 2.4 Fair Value. Solely for the purposes of this Warrant, “fair
value” of an Exercise Equivalent Share, as of any applicable date of determination, shall mean the average reported closing price of the Common Stock for the ten (10) trading days ending on the trading day prior to the date of
exercise; provided that, with respect to determining fair value in connection with any Cashless Exercise, the date of determination will be deemed to be the date on which the Notice of Exercise for such Cashless Exercise is deemed to have
been sent to the Company. 
 2.5 Delivery of Certificate of Exercise Shares and New Warrant. Upon the exercise of this Warrant,
a certificate or certificates for the Exercise Shares so purchased, registered in the name of (i) the Holder or (ii) if the Holder so designates, to Persons to which this Warrant may be transferred to in accordance with
Section 9.1, shall be issued and delivered to the Holder within two (2) Business Days of delivery of the applicable Notice of Exercise. In the event that this Warrant is being exercised for less than all of the then-current number
of Exercise Shares purchasable hereunder, the Company shall, concurrently with the issuance by the Company of the number of Exercise Shares for which this Warrant is then being exercised and surrender of this Warrant to the Company, issue a new
Warrant exercisable for the remaining number of Exercise Shares purchasable hereunder. The Person in whose name any certificate or certificates for Exercise Shares are to be issued upon exercise of this Warrant shall be deemed to have become the
holder of record of such shares on the date (following the delivery of the Notice of Exercise for such shares) on which the Exercise Price was made, irrespective of the date of delivery of such certificate or certificates, except that, if the date
of such payment is a date when the stock transfer books of the Company are closed, such Person shall be deemed to have become the holder of such shares at the close of business on the next succeeding date on which the stock transfer books are open.

 2.6 Automatic Cashless Exercise. To the extent this Warrant has not been exercised in full by the Holder prior to the
Expiration Date, any portion of this Warrant that remains unexercised on such date shall be deemed to have been exercised automatically pursuant to Section 2.3 above, in whole (and not in part), on the Business Day immediately preceding
such date; provided that, notwithstanding the foregoing, unless the Holder otherwise elects in writing, no such automatic exercise shall occur in the event that the fair value per share of an Exercise Share on the trading day immediately
preceding the Expiration Date is less than the Exercise Price. 
 2.7 Conditional Exercise. 

(a) Notwithstanding any other provision hereof, if an exercise of all or any portion of this Warrant is to be made in connection with a Change
in Control, such exercise may, at the election of the Holder, be conditioned upon the consummation of such transaction, in which case such exercise shall not be deemed to be effective until immediately prior to the consummation of such transaction.

 (b) Notwithstanding any other provision hereof, this Warrant may only be exercised to the extent not prohibited under the
Hart–Scott–Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”), or any other federal, state and foreign antitrust laws (in each case, to the extent applicable to this Warrant). 

2.8 Notice of Certain Events. 

(a) If the Company proposes at any time to: 

  
 5 

 (i) declare any dividend or distribution upon the outstanding shares of its Common Stock,
whether in cash, property or other Equity Securities or securities and whether or not a regular cash dividend; 
 (ii) offer Equity
Securities or other securities for subscription or sale pro rata to the holders of the outstanding shares of the Company’s Common Stock; 

(iii) effect any reclassification, exchange, combination, substitution, reorganization or recapitalization of the Company’s
outstanding shares of Common Stock; 
 (iv) effect a Change in Control; 

(v) liquidate, dissolve or wind up; or 

(vi) effect any bankruptcy, insolvency or similar event (or becomes aware that any such event is reasonably likely to occur); 

then, in connection with each such matter or event, the Company shall give the Holder: 

(1) in the case of matters or events of the type referred to in clauses (i), (ii) or (iv) above, at least fifteen (15) Business
Days prior written notice of the anticipated date on which a record will be taken for such dividend, distribution, offering, sale or subscription rights (and specifying the anticipated date on which the holders of outstanding shares of the
Company’s Common Stock will be entitled thereto); and 
 (2) in the case of the matters or events of the type referred to in
clauses (iii), (v) or (vi) above, at least twenty (20) Business Days prior written notice of the anticipated date when the same will take place (and, if applicable, specifying the anticipated date on which the holders of outstanding shares
of the Company’s Common Stock will be entitled to exchange their shares for the securities or other property deliverable upon the occurrence of such event). 

(b) Notwithstanding the foregoing, the Holder may deliver written notice (an “Opt-Out
Notice”) to the Company requesting that the Holder not receive notices from the Company otherwise required by Section 2.8(a); provided that the Holder may later revoke any such
Opt-Out Notice in writing. Following receipt of an Opt-Out Notice from the Holder (unless subsequently revoked), the Company shall not deliver any such notices to the
Holder, and the Holder shall no longer be entitled to receive any such notice. 
 3. EXERCISE SHARES.

 3.1 All Exercise Shares issued upon the exercise of this Warrant will be validly issued and outstanding, fully paid and non-assessable, and free from all taxes, liens and charges with respect to the issuance thereof (other than any created by the Holder). 

3.2 The Company covenants and agrees that the Company will, at all times during the Exercise Period, have authorized and reserved, free
from pre-emptive rights, a sufficient number of shares of Common Stock to provide for the exercise of this Warrant. If at any time during the Exercise Period the number of authorized but unissued shares of
Common Stock shall not be sufficient to permit exercise of this Warrant, the Company will take such corporate action as may be necessary to increase its authorized but unissued shares of Common Stock to such number of shares as shall be sufficient
for such purposes.  

  
 6 

 4. ADJUSTMENT. 

4.1 Stock Dividends; Split Ups. If, after the date hereof, the number of outstanding shares of Common Stock is increased by a
stock dividend payable in shares of Common Stock, or by a split up of shares of Common Stock, or other similar event, then, on the effective date of such stock dividend, split up or similar event, the number of shares of Common Stock issuable on
exercise of this Warrant shall be increased in proportion to such increase in outstanding shares of Common Stock. A rights offering to holders of the Common Stock entitling holders to purchase shares of Common Stock at a price less than the
“Fair Market Value” (as defined below) shall be deemed a stock dividend of a number of shares of Common Stock equal to the product of (i) the number of shares of Common Stock actually sold in such rights offering (or issuable under
any other equity securities sold in such rights offering that are convertible into or exercisable for the Common Stock) and (ii) one (1), minus the quotient of (x) the price per share of Common Stock paid in such rights offering, divided
by (y) the Fair Market Value. For purposes of this Section 4.1, (i) if the rights offering is for securities convertible into or exercisable for Common Stock, in determining the price payable for Common Stock, there shall be taken
into account any consideration received for such rights, as well as any additional amount payable upon exercise or conversion and (ii) “Fair Market Value” means the volume weighted average price of the Common Stock as
reported during the ten (10) trading day period ending on the trading day prior to the first date on which the shares of Common Stock trade on the applicable exchange or in the applicable market, regular way, without the right to receive such
rights. 
 4.2 Aggregation of Shares. If, after the date hereof, the number of outstanding shares of Common Stock is decreased
by a consolidation, combination, reverse stock split or reclassification of shares of Common Stock or other similar event, then, on the effective date of such consolidation, combination, reverse stock split, reclassification or similar event, the
number of shares of Common Stock issuable on exercise of this Warrant shall be decreased in proportion to such decrease in outstanding shares of Common Stock. 

4.3 Extraordinary Dividends. If the Company, at any time while this Warrant is outstanding and unexpired, shall pay a dividend or
make a distribution in cash, securities or other assets to the holders of the shares of Common Stock on account of such shares of Common Stock (an “Extraordinary Dividend”), then the Exercise Price shall be decreased,
effective immediately after the effective date of such Extraordinary Dividend, by the amount of cash and the fair market value (as determined by the board of directors of the Company, in good faith) of any securities or other assets paid on each
share of Common Stock in respect of such Extraordinary Dividend; provided, however, that none of the following shall be deemed an Extraordinary Dividend for purposes of this provision: (a) any adjustment described in
Section 4.1 or (b) any cash dividends or cash distributions which, when combined on a per share basis with the per-share amount of all other cash dividends and cash distributions paid
on the Common Stock during the 365-day period ending on the date of declaration of such dividend or distribution to the extent it does not exceed $0.50 (as adjusted to appropriately reflect any of the events
referred to in other subsections of this Section 4 and excluding cash dividends or cash distributions that resulted in an adjustment to the Exercise Price or to the number of shares of Common Stock issuable on exercise of each Warrant).
Solely for purposes of illustration, if the Company, at a time while this Warrant is outstanding and unexpired, pays a cash dividend of $0.35 and previously paid an aggregate of $0.40 of cash dividends and cash distributions on the Common Stock
during the 365-day period ending on the date of declaration of such $0.35 dividend, then the Exercise Price will be decreased, effectively immediately after the effective date of such $0.35 dividend, by $0.25
(the absolute value of the difference between $0.75 (the aggregate amount of all cash dividends and cash distributions paid or made in such 365-day period, including such $0.35 dividend) and $0.50 (the greater
of (x) $0.50 and (y) the aggregate amount of all cash dividends and cash distributions paid or made in such 365-day period prior to such $0.35 dividend)). 

  
 7 

 4.4 Adjustments in Exercise Price. Whenever the number of shares of Common
Stock purchasable upon the exercise of this Warrant is adjusted, as provided in Sections 4.1 and 4.2, the Exercise Price shall be adjusted (to the nearest cent) by multiplying such Exercise Price immediately prior to such adjustment by a
fraction (x) the numerator of which shall be the number of shares of Common Stock purchasable upon the exercise of this Warrant immediately prior to such adjustment, and (y) the denominator of which shall be the number of shares of Common
Stock so purchasable immediately thereafter. 
 4.5 Replacement of Securities upon Reorganization, etc. In case of any
reclassification or reorganization of the outstanding shares of Common Stock (other than a change covered by Section 4.1, 4.2 or 4.3 or that solely affects the par value of the Common Stock), or in the case of any merger or consolidation
of the Company with or into another entity, or in the case of any sale or conveyance to another corporation or entity of the assets or other property of the Company as an entirety or substantially as an entirety in connection with which the Company
is dissolved (a “Fundamental Transaction”), the Holder shall thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions specified in this Warrant and in lieu of the shares of Common
Stock of the Company immediately theretofore purchasable and receivable upon the exercise of this Warrant, the kind and amount of shares of stock or other securities or property (including cash) receivable upon such reclassification, reorganization,
merger or consolidation, or upon a dissolution following any such sale or transfer, that the Holder would have received if the Holder had exercised this Warrant immediately prior to such event (the “Alternative
Consideration”). In any such case, appropriate provision shall be made with respect to the rights and interests of the Holder so that the provisions of this Warrant shall be applicable with respect to any Alternative Consideration
thereafter deliverable upon exercise of this Warrant. The Company shall not effect any Fundamental Transaction unless, prior to or simultaneously with the consummation thereof, the survivor or successor or acquiring entity (or the parent entity
thereof) resulting from such consolidation or merger or the purchaser of such assets shall assume by written instrument delivered to the Holder the obligation to deliver to the Holder the Alternative Consideration. If any reclassification or
reorganization also results in a change in the Common Stock covered by Section 4.1, 4.2 or 4.3, then such adjustment shall be made pursuant to Sections 4.1, 4.2, 4.3, 4.4 and this Section 4.5. The provisions of this
Section 4.5 shall similarly apply to successive reclassifications, reorganizations, mergers or consolidations, sales or other transfers. In no event will the Exercise Price be reduced to less than the par value per share issuable upon
exercise of this Warrant. 
 4.6 Notices of Changes in Warrant. Upon every adjustment of the Exercise Price or the number of
shares issuable upon exercise of this Warrant, the Company shall give written notice thereof to the Holder, which notice shall state the Exercise Price resulting from such adjustment and the increase or decrease, if any, in the number of shares
purchasable at such price upon the exercise of this Warrant, setting forth in reasonable detail the method of calculation and the facts upon which such calculation is based. Upon the occurrence of any event specified in Sections 4.1, 4.2,
4.3, 4.3 or 4.5, then the Company shall give written notice to the Holder of the record date or the effective date of the event. Failure to give such notice, or any defect therein, shall not affect the legality or validity of such event. 

 4.7 Other Events. In case any event shall occur affecting the Company as to which none of the provisions of preceding
subsections of this Section 4 are strictly applicable, but which would require an adjustment to the terms of this Warrant in order to (i) avoid an adverse impact on this Warrant and (ii) effectuate the intent and purpose of
this Section 4, then, in each such case, the Company shall appoint a nationally recognized accounting firm as may be mutually agreed upon by the Holder and the Board of Directors of the Company (other than the directors designated by
SoftBank Group Corp. or SoftBank Vision Fund (AIV M1) L.P. or their respective Affiliates pursuant to the Stockholders Agreement) (an “Independent Advisor”), which shall give its opinion as to whether or not any adjustment to
the rights represented by this Warrant is necessary to effectuate the intent and purpose of this Section 4 and, if they determine that an adjustment is necessary, the terms of such adjustment. The Company shall adjust the terms of this
Warrant in a manner that is consistent with any adjustment recommended in such opinion. 

  
 8 

 5. FRACTIONAL SHARES. No fractional shares shall be
issued upon the exercise of this Warrant as a consequence of any adjustment pursuant hereto. All Exercise Shares (including fractions) issuable upon exercise of this Warrant may be aggregated for purposes of determining whether the exercise would
result in the issuance of any fractional share. If, after aggregation, the exercise would result in the issuance of a fractional share, the Company shall, in lieu of issuance of any fractional share, pay the Holder otherwise entitled to such
fraction a sum in cash equal to the product resulting from multiplying the then-current fair value of an Exercise Share by such fraction. 

6. REGISTRATION RIGHTS. Any or all outstanding Exercise Shares which have been issued upon exercise hereof
shall be deemed “Registrable Securities” under the Company’s Amended and Restated Registration Rights Agreement, dated [•], 2021, as it may be amended or superseded from time to time.  

7. NO STOCKHOLDER RIGHTS. The Holder, as such, shall not have or exercise any rights by
virtue of this Warrant with respect to any Exercise Shares as a holder of any capital stock of the Company that is issuable hereunder (without prejudice to the Holder’s rights as a holder of any shares of capital stock of the Company acquired
separately from the exercise of this Warrant), until such Exercise Shares have been issued upon exercise of this Warrant. 
 8.
DISPUTES AND OTHER ACTIONS AFFECTING EXERCISE SHARES OR THIS WARRANT. 

8.1 Disputes. In the case of any dispute with respect to the calculation or determination of the number of Exercise Shares
issuable upon exercise or any other matter involving this Warrant or the Exercise Shares, in the event the Holder, on the one hand, and the Company, on the other hand, are unable to settle such dispute within fifteen (15) Business Days, then
either party may elect to submit the disputed matter(s) for resolution by an Independent Advisor. Such Independent Advisor’s determination of such disputed matter(s) shall be binding upon all parties absent demonstrable error, and the Company
and the Holder shall each pay one half of the fees and costs, inclusive of taxes, of such Independent Advisor. 
 8.2 Equitable
Equivalent. In case any event shall occur as to which the provisions of Section 8.1 are not strictly applicable but the failure to make any adjustment would not, in the reasonable, good faith opinion of the Holder, fairly protect the
rights and benefits of the Holder represented by this Warrant in accordance with the essential intent and principles of Section 8.1, then, in any such case, at the request of the Holder, the Company shall submit the matter and issues
raised by the Holder to an Independent Advisor, which shall give its opinion upon the adjustment, if any, on a basis consistent with the essential intent and principles established in Section 8.1, to the extent necessary to preserve,
without dilution, the rights and benefits represented by this Warrant. Upon receipt of such opinion, the Company will promptly mail a copy thereof to the Holder and shall make the adjustments described therein, if any. 

8.3 No Avoidance. The Company shall not, by way of amendment of the Charter or the Stockholders Agreement or through any
consolidation, merger, reorganization, transfer of assets, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at all times in
good faith assist in the carrying out of all such terms. 

  
 9 

 9. TRANSFER OF WARRANT AND
EXERCISE SHARES. 
 9.1 Generally. This Warrant and the Exercise Shares issued upon exercise
of this Warrant may not be transferred or assigned in whole or in part except (i) with respect to transfers and assignments to Affiliates of the Holder in compliance with applicable federal and state securities laws by the transferor and the
transferee and (ii) by transfers permitted pursuant to the Charter or the Stockholders Agreement. 
 9.2 Notice of
Assignment. After receipt by the Initial Holder of the executed Warrant, the Initial Holder may transfer all or part of this Warrant in accordance with Section 9.1, by execution of an assignment substantially in the form of
Attachment B. Subject to Section 9.1 above and upon providing the Company with written notice that includes the completed form of Attachment B, the Initial Holder, any such Person and any subsequent Holder, may sell, assign
or otherwise transfer all or part of this Warrant or the Exercise Shares issuable upon exercise of this Warrant to any other Person, and the Holder will surrender this Warrant to the Company for reissuance to the transferee(s) (and Holder if
applicable).  
 9.3 Warrant Register. The Company shall keep and properly maintain at its principal executive office a
register (the “Warrant Register”) for the registration of this Warrant and any transfers thereof. The Company may deem and treat the Person in whose name this Warrant is registered on such register as the Holder thereof for
all purposes, and the Company shall not be affected by any notice to the contrary, except any assignment, division, combination or other transfer of this Warrant effected in accordance with the provisions of this Warrant. 

9.4 Removal of Restrictive Legends. Neither this Warrant nor any certificates evidencing Exercise Shares issuable or deliverable
under or in connection with this Warrant shall contain any legend restricting the transfer thereof (including the legend set forth initially above) in any of the following (or substantially similar) circumstances: (i) following a sale of the
Exercise Shares pursuant to a registration statement covering the sale or resale of Exercise Shares is effective under the Securities Act, (ii) following any sale of this Warrant or any Exercise Shares issued or delivered to the Holder under or
in connection herewith pursuant to Rule 144, (iii) following the sale of this Warrant or the Exercise Shares pursuant to clause (b)(1) of Rule 144 or (iv) if such legend is not required under applicable requirements of the Securities Act
(including judicial interpretations and pronouncements issued by the staff of the SEC) (collectively, the “Unrestricted Conditions”). If the Unrestricted Conditions are met at the time of issuance of this Warrant or any
Exercise Shares, as the case may be, then such instrument shall be issued free of all legends. The Holder agrees that the removal of the restrictive legend from this Warrant or any Exercise Shares pursuant to either an effective registration
statement or otherwise pursuant to the requirements of the Securities Act, including any applicable prospectus delivery requirements, or an exemption therefrom, is necessary and appropriate and that if such securities are sold pursuant to a
registration statement, they will be sold in compliance with the plan of distribution set forth therein. 
 10. WITHHOLDING.
Notwithstanding any other provision of this Warrant, the issuance of this Warrant and all payments, dividends and distributions on, or in redemption of, or occurring in connection with the issuance of, this Warrant or the Exercise Shares, shall
be subject to deduction and withholding and backup withholding of tax to the extent required by law, and amounts deducted and withheld, if any, shall be paid over to the applicable governmental authority to the extent required by law and shall be
treated as received by the Holder in respect of which such amounts were deducted and withheld;provided that no withholding shall apply if the applicable Holder provides an executed copy of an applicable IRS Form
W-8 establishing an exemption from U.S. federal withholding tax pursuant to an income tax treaty to which the United States is a party. If no such exemption is established, the Company shall have the
right to take measures necessary to obtain cash to satisfy the Company’s withholding obligations with respect to any non-cash, deemed or constructive payment, dividend or distribution to the Holder,
including by retaining, selling or liquidating property of the Holder held by the Company in its custody or over which it has control (including without limitation any Exercise Shares, Equity Securities of the Company held in escrow, or

  
 10 

 
cash issuable in lieu of fractional shares); provided, however, that all obligations of the Company to withhold pursuant to Section 1445 of the Code described in this Section 10
shall be satisfied pursuant to, and in all respect subject to the terms of, the FIRPTA Side Letter. The Holder shall indemnify the Company and its Affiliates for, and hold harmless the Company and its Affiliates from and against, any and all
withholding tax, including penalties and interest, payable by or assessed against the Company or any of its Affiliates in respect of this Warrant, the Exercise Shares and the transactions contemplated hereby. Any indemnification payment made
pursuant to this Section 10 shall be made by the Holder in cash in accordance with and subject to the provisions of the FIRPTA Side Letter, including the $25,000,000 threshold amount applicable to the Company’s prior obligation to sell
withheld property set forth in the FIRPTA Side Letter. 
 11. LOST, STOLEN, MUTILATED
OR DESTROYED WARRANT. If this Warrant is lost, stolen, mutilated or destroyed, the Company may, on such terms as to indemnity or otherwise as it may reasonably impose (which shall, in the case of a
mutilated Warrant, include the surrender thereof), issue a new Warrant of like denomination and tenor as this Warrant so lost, stolen, mutilated or destroyed. Any such new Warrant shall constitute an original contractual obligation of the Company,
whether or not the allegedly lost, stolen, mutilated or destroyed Warrant shall be at any time enforceable by anyone.  
 12.
NOTICES, ETC. All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (i) upon personal delivery to the party to be notified, (ii) when sent by email if sent
during normal business hours of the recipient, if not, then on the next Business Day, in each case confirmed by subsequent telephone notice of such email, (iii) five (5) days after having been sent by registered or certified mail, return
receipt requested, postage prepaid, or (iv) one (1) day after deposit with a nationally recognized overnight courier, specifying next Business Day delivery, with written verification of receipt. All communications shall be sent to the Company
and Holder at the respective address listed on the signature page hereto or at such other address as the Company or Holder may designate by ten (10) days advance written notice to the other party hereto. 

13. ACCEPTANCE. Receipt of this Warrant by the Holder shall constitute acceptance of and agreement to all of the terms
and conditions contained herein. 
 14. AMENDMENT. This Warrant may not be modified or amended, nor may any provisions
hereof be waived, without the prior written consent of both the Company and the Holder. No waiver by the Company or the Holder of any of the provisions hereof shall be effective unless explicitly set forth in writing and signed by the party so
waiving. No waiver by any party shall operate or be construed as a waiver in respect of any failure, breach or default not expressly identified by such written waiver, whether of a similar or different character, and whether occurring before or
after that waiver. No failure to exercise, or delay in exercising, any rights, remedy, power or privilege arising from this Warrant shall operate or be construed as a waiver thereof, nor shall any single or partial exercise of any right, remedy,
power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. 

15. NO THIRD-PARTY BENEFICIARIES. This Warrant is for the sole benefit of
the Company and the Holder and their respective successors and, in the case of the Holder, permitted transferees and assigns, and nothing herein, express or implied is intended to or shall confer upon any other Person any legal or equitable right,
benefit or remedy of any nature whatsoever, under or by reason of this Warrant.  
 16. GOVERNING
LAW. All rights and obligations hereunder shall be governed by the laws of the State of New York (without giving effect to principles of conflicts or choices of law that would cause the application of any other laws). All disputes
and controversies arising out of or in connection with this Warrant shall be resolved exclusively by the state and federal courts located in the City of New York, Borough of Manhattan, and each party hereto agrees to submit to the jurisdiction of
said courts and agrees that venue shall lie exclusively with such courts. 

  
 11 

 17. COUNTERPARTS. This Warrant may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Delivery by email to the other party of a counterpart executed by a party shall be deemed to meet the requirements of
the previous sentence. 
 18. SEVERABILITY. If any provision of this Warrant is held invalid or unenforceable by any
court of competent jurisdiction, the other provisions of this Warrant shall remain in full force and effect. The parties hereto further agree that if any provision contained herein is, to any extent, held invalid or unenforceable in any respect
under the laws governing this Warrant, they shall take any actions necessary to render the remaining provisions of this Warrant valid and enforceable to the fullest extent permitted by law and, to the extent necessary, shall amend or otherwise
modify this Warrant to replace any provision contained herein that is held invalid or unenforceable with a valid and enforceable provision giving effect to the intent of the parties hereto. 

[SIGNATURE PAGE FOLLOWS] 

  
 12 

 IN WITNESS WHEREOF, the
Company has caused this Warrant to be executed by its duly authorized officer as of the date first above written. 
  

			
	BOWX ACQUISITON CORP.
		
	By:	 	  

	Name:
	Title:
	
	Address:
	BowX Acquisition Corp. 2400 Sand Hill Rd., Suite 200
	Menlo Park, CA 94025
	Attention: Vivek Ranadive

  

			
	AGREED AND ACCEPTED:
		
	[•]	 	
		
	By:	 	  

	Name:
	Title:
	
	Address:
	[•]
	Attention: [•] 

 [SIGNATURE PAGE TO WARRANT] 

  
 23 

 ATTACHMENT A 

NOTICE OF EXERCISE 
 TO:
BOWX ACQUISITION CORP. (THE “COMPANY”) 

(1) Reference is made to the Warrant to Purchase Common Stock, dated [•], issued by the Company to the undersigned (the
“Warrant”).  
 (2) The undersigned hereby elects to purchase __________ shares of Common Stock of the
Company (the “Purchased Shares”) pursuant to the terms of the Warrant, and tenders herewith, in payment of the exercise price in full, together with all applicable transfer taxes, if any, the following: 

(a) $__________ (by wire transfer as provided for pursuant to the Warrant); and/or 

(b) a Warrant for __________ Purchased Shares (pursuant to a Cashless Exercise in accordance with Section 2.3 of the Warrant)
(check here if the undersigned desires to deliver a Warrant for an unspecified number of shares equal to the number sufficient to effect a Cashless Exercise [___]). 

(3) Please issue a certificate or certificates representing said Purchased Shares in the name of the undersigned or in such other name
as is specified below: 
 _____________________________ 

(Name) 

_____________________________ 

_____________________________ 

(Address) 
 (4) The
undersigned represents that the undersigned agrees not to make any disposition of all or any part of the aforesaid Purchased Shares unless and until there is then in effect a registration statement under the Securities Act covering such proposed
disposition and such disposition is made in accordance with said registration statement, or such disposition is made pursuant to an exemption from registration under the Securities Act. 

(5) If the shares issuable upon this exercise of the Warrant are not all of the Purchased Shares which the Holder is entitled to acquire
upon the exercise of the Warrant, the undersigned requests that a new Warrant evidencing the rights not so exercised be issued in the name of and delivered to: 

_________________________________________ 

(Please print name) 

_________________________________________ 

_________________________________________ 

(Please print address) 

 _________________________________________ 

(Please print social security or federal employer 

identification number (if applicable)) 
  

	
	 Name of Holder
(print):                                       
                  

	
(Signature):                 
                                         
                      

	
(By:)                  
                                         
                                  

	
(Title:)                 
                                         
                               

	
Dated:                  
                                         
                               

 [ATTACHMENT A – NOTICE OF EXERCISE] 

 ATTACHMENT B 

FORM OF ASSIGNMENT 

Reference is made to the Warrant to Purchase Common Stock, dated [•], issued by BowX Acquisition Corp. to the undersigned (the
“Warrant”). 
 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers to each assignee set forth
below all of the rights and obligations of the undersigned under the Warrant to acquire the number of shares of Common Stock set opposite the name of such assignee below and in and to the foregoing Warrant with respect to said acquisition rights and
the shares issuable upon exercise of the Warrant: 
  

					
	 Name of Assignee
	  	 Address
	  	 Number of Shares

		  		  	

 If the total of the Exercise Shares (as defined in the Warrant) are not all of the shares of Common Stock
evidenced by the foregoing Warrant, the undersigned requests that a new warrant evidencing the right to acquire the Exercise Shares not so assigned be issued in the name of and delivered to the undersigned. 

 

	
	 Name of Holder
(print):                                       
                  

	
(Signature):                 
                                         
                      

	
(By:)                  
                                         
                                  

	
(Title:)                 
                                         
                               

	
Dated:                  
                                         
                               

 [ATTACHMENT B – FORM OF ASSIGNMENT]

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