Annual Report for the Financial Year 2025-26

WEWORK INDIA MANAGEMENT LIMITED (Formerly known as WeWork India Management Private Limited) Regd. Office: 6th Floor, Prestige Central, 36 Infantry Road Shivaji Nagar Bengaluru, Karnataka, 560001 Email: cswwi@wework.co.in; Website: https://wework.co.in/ Telephone no.: 080-37880881 CIN: L74999KA2016PLC093227 July 31, 2026 Listing Department Listing Department National Stock Exchange of India Limited BSE Limited Exchange Plaza, Bandra Kurla Complex, Phiroze Jeejeebhoy Towers, Dalal Street, Bandra (East), Mumbai – 400 051 Fort, Mumbai – 400 001 Symbol: WEWORK Scrip Code: 544570 Dear Sir/Madam, Subject: Annual Report for the Financial Year 2025-26 Pursuant to Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), please find enclosed the Annual Report of WeWork India Management Limited (“the Company”) for the Financial Year 2025-26, which is being circulated today through electronic mode to those Members whose e-mail address is registered with the Depository Participants / Company / Registrar and Transfer Agent. In terms of Regulation 46 of the SEBI Listing Regulations, the Annual Report is also available on the website of the Company at https://wework.co.in/investors-relations/financial-information/#ann. Kindly take the above information on record. Yours faithfully, For WeWork India Management Limited Udayan Shukla Company Secretary & Compliance Officer Membership No.: F11744 Encl: As above inflection year Translating scale into profitability WeWork India Management Limited Annual Report 2025-26 CWorporahte Ovaervtiew’s in04-90sidSteatutory Reports 91-205 04 Chairman’s message 92 Management discussion and analysis 06 CEO’s message 112 Board’s report and its annexures 08 Who we are 141 Key performance indicators 12 Our market debut 145 Corporate governance report 16 Evolution and growth 171 Business responsibility & sustainability report 18 Our operating environment 28 Our offerings Financial Statements 206-388 36 Presence and scale 38 Our members 40 Financial and operational performance 206 Standalone financial statements 44 Our spaces 294 Consolidated financial statements 46 Sourcing with precision, building with purpose 50 Community as our differentiator, Notice of AGM 389-410 delivered through hospitality 60 Our technology platform 64 Awards and accolades 66 Sustainability at WeWork India 68 Environmental responsibility 72 Our people 76 Community development Scan the QR code to 84 Governance and ethics know more about us 88 Board of Directors You can find this report online: 89 Leadership Team www.wework.co.in/investors- 90 Corporate Information relations/investor-overview Note: Interpretation of “Member(s)”: In this Annual Report, unless the context otherwise requires, references to “Member(s)” in the Corporate Overview, other non-statutory narrative sections and the Management Discussion and Analysis refer to customers of the Company availing its workspace solutions and related services. References to “Member(s)” in the statutory sections of this Annual Report, including the Notice of the Annual General Meeting, shall have the meaning assigned to such term under the Companies Act, 2013. Evolution Since opening our first centre, we have continuously evolved, expanding our offerings, strengthening our expertise and redefining the role a workspace partner can play in enabling business growth and employee experience. Adoption · Acceleration · Evolution The inflection year Today, we are far more than a flexible workspace operator. We are a full-stack workspace platform that combines enterprise-grade infrastructure, a hospitality-led member experience, integrated design and build solutions, technology- enabled operations and the agility to support clients across multiple cities, formats and stages of growth. Our focus is This past year was a defining year in our journey, one in which multiple not only on meeting today’s workplace needs but also on anticipating and enabling the workplace of the future. milestones converged to validate both our strategy and our vision for the This commitment to continuous evolution enables us to remain responsive to changing customer requirements while future. We became a publicly listed Company, crossed the landmark of one staying ahead of emerging workplace trends. Every product we build, every service we refine and every capability we add is guided by a singular objective: to be the most trusted, most adaptable workspace partner for every organisation that is lakh members, opened our 76th centre and achieved a portfolio occupancy of growing, changing or reimagining the way it works. 86.9%, the highest in our history. But this year was not just about numbers. This was the year in which the office market’s evolution aligned with the conviction that has guided us since inception. The future that we anticipated and invested in is now becoming the reality for enterprises across India. Adoption The structural shift towards flexible workspaces is now undeniable. CY25 was a record year for the Indian office market, with ~83 Million square feet of Grade A office space absorbed and flexible workspaces accounting for ~21% of total leasing activity. In Q1 CY26, the momentum accelerated further with 20.7 Million square feet absorbed in a single quarter, the highest Q1 on record. Flexible workspaces have emerged as the largest occupier category, contributing 23% of total absorption in Q1 CY26 and surpassing technology, BFSI and all other sectors. Enterprise planning cycles have shrunk alongside this shift, driven by the pace of AI adoption and Global Capability Centres scaling rapidly across the country. 75% of enterprises now plan their real estate decisions inside a three-year horizon and traditional leases of five years and above have fallen from 40% of new signings to just 8%. India’s flexible workspace stock across the top seven cities has grown from approximately 33 Million square feet in 2020 to around 103 Million square feet by the end of 2025, roughly tripling in five years. Today, 55% of occupiers have flexible workspaces within their portfolios, a figure projected to rise to 65% by 2027. These trends reflect a fundamental transformation in enterprise real estate strategy. Flexible workspaces have become a structural part of how enterprises in India build their real estate strategy. Acceleration FY26 was our strongest year of performance, marked by growth across key operational and financial metrics. Revenue grew by 23.4% to H24,774 Million, while EBITDA expanded by 23.1% to H4,993 Million. Profit after tax more than doubled to H1,791 Million. Our operational area grew 16.2% to 8.6 Million square feet across 76 centres and we closed the year with more than 110,000 members. Portfolio occupancy reached 86.9% and mature-centres* occupancy touched 88.9%, both representing all-time highs. These results reflect the compounding effect of years of deliberate investment in our people, our product and our platform. The business did not just grow — it strengthened. Note: All financial figures on an IGAAP-equivalent basis *Centres that are operational for >12 months Annual Report 2025-26 WeWork India Management Limited Corporate Overview Chairman’s message Dear Shareholders, Over three decades in commercial real estate in India, I have witnessed this industry evolve through multiple cycles and transformations, where we have learned to recognise the difference between a trend and a structural shift. What is happening with flexible workspaces today is a structural shift. When we started WeWork India, it was not viewed as an obvious bet. Flexible workspaces were largely seen as a niche offering—well-suited to startups, freelancers and small teams. The idea that large enterprises, multinational corporations I have lived through and even Global Capability Centres would one day build their real estate strategies around flex would have sounded far- several real estate c [Showing first 8,000 characters — download PDF for full document]