Partial Repurchase of Convertible Bond

International Workplace Group plc ("IWG" or "the Company") announces that it has repurchased £37.2m in aggregate principal amount of IWG International Holdings S.À R.L.'s £350m 0.5 per cent. convertible bond due 2027 (the "Convertible Bond") at a weighted average price of 92.90%, representing a total consideration of £34.6m. The associated portion of the US dollar currency derivative on the notional amount of the Convertible Bond repurchased has been unwound simultaneously.

Following this purchase, £194.5m (swapped to $247.5m) in aggregate principal amount of the Convertible Bonds remains outstanding. IWG may look to make further repurchases from time to time, subject to market conditions.

The Convertible Bonds which have been repurchased will be surrendered by the Company for cancellation.

This notification complies with LR 9.7.2 in relation to the aggregate repurchase of 44.4% of the principal amount of the Convertible Bonds initially issued. Further announcements will be made in accordance with the Listing Rules in the event that more Convertible Bonds are repurchased.