Partial Repurchase of Convertible Bond

International Workplace Group plc ("IWG") announces that it has entered into irrevocable agreements ("Agreements") with certain holders (the "Investors") of IWG International Holdings S.À R.L.'s £350 million 0.5 per cent. convertible bond (the "Convertible Bond"). Pursuant to the Agreements the Investors have agreed to sell £118.3 million face value of the Convertible Bond back to IWG (or its affiliates) at a weighted average price of 0.9215%, including accrued interest, representing a consideration of £109.0 million.

The same Investors have also placed orders in respect of IWG US Finance LLC's previously-announced fixed-coupon bond offering (the "Bond Transaction") at a price of 100.2109% which will increase the aggregate nominal amount of the Bond Transaction from €500 million to €575 million, i.e. an increase of 15%.

Repurchased Convertible Bonds will subsequently be cancelled. Should the Bond Transaction complete as expected on 28 June 2024 then the nominal amount outstanding of the Convertible Bonds will accordingly be £231.7 million. Should the Bond Transaction not complete for any reason then all Agreements with the Investors lapse.

All terms received by the Investors in the Bond Transaction, apart from pricing above, will be the same as terms received by every other investor in the Bond Transaction.