International Workplace Group Plc · LSE:IWG
International Workplace — Investor Day (December 2025)
30 slides from International Workplace's investor day presentation, December 2025
Slide 1: Thomas Sinclair – Managed & Franchise
Thomas Sinclair Managed & Franchise
Slide 2: Opportunity and strategy unchanged
Opportunity and strategy unchanged Investor Day - December 2025 2 $2tn TAM Global market leader Partner of choice Building the network Investing for growth
Slide 3: We are delivering
We are delivering Investor Day - December 2025 3 Accelerated growth underpins FCF generation and shareholder returns Set up Execution Delivery Acceleration 2023 2024 2025 Locations Locations Recurring SIGNED OPENED FEES +100% +100% +100%
Slide 4: Brands & Formats
Brands & Formats Investor Day - December 2025 44 Centre 1989 #1 1 brand 1 format 1 location
Slide 5: Brands & Formats
Brands & Formats Investor Day - December 2025 55 Today Multi-brand Multi-format Growing networks
Slide 6: Brands & Formats
Brands & Formats Investor Day - December 2025 66 Future More brands More formats Broader networks Bigger opportunity
Slide 7: Operational Real Estate
Operational Real Estate Investor Day - December 2025 77 Customers Owners want flexibility want income and agile solutions and amenities +1,910% Premium On-demand Spoke use cases1 Cash Flow +80% +12% Dedicated Hub use cases1 Higher demand for buildings with amenities3 -25% Valuation Fixed Footprint2
Slide 8: IWG Managed & Franchised value proposition
IWG Managed & Franchised value proposition Investor Day - December 2025 88 More Less revenue cost Distribution Add-on Marketplace Platform Buying Supply services power chain Network & Scale Higher Outsourced Return Team Experience End-to-end Best ROI Premium Amenity & platform income Asset Value
Slide 9: Managed & Franchised: Model
Managed & Franchised: Model Investor Day - December 2025 9 Management Fee Customers Network Landlords Distribution & Investors Platform Asset/Portfolio Drive revenue Cash flow Control costs Suppliers Reporting Global platform Scale economies Premium Income Amenity Valuation Productise Operate Moneti
Slide 10: Managed & Franchised Flywheel
Managed & Franchised Flywheel Investor Day - December 2025 10 Scale, network and best economics now driving virtuous circle of growth Account Broadest Growth Network Scale Economies New Partners Premium Fees Income Best Best Returns Distribution Cost Maximum Leadership Revenues
Slide 11: Investing for Network Growth
Investing for Network Growth Investor Day - December 2025 11 Ongoing and accelerated investment in our Managed & Franchise programme +23% Sales Team YoY • Sales resource • Management structures FTEs • Supply chain • Partner support H1 2024 H2 2024 H1 2025 Signatures Openings Fees
Slide 12: Delivering Growth: New Locations Signed
Delivering Growth: New Locations Signed Investor Day - December 2025 12 Our investment has driven a meaningful acceleration in Signatures New Locations Signed (10 Yrs) Signatures + 43% YoY (3Q) Delivering ahead of plan Improved breadth of performance 2016 2017 2018 2019 2020 2021 2022 2023 2024 H1-
Slide 13: Delivering Growth: New Locations Signed
Delivering Growth: New Locations Signed Investor Day - December 2025 13 Our investment has driven a meaningful acceleration in Signatures New Locations Signed (10 Yrs) Signatures + 43% YoY (3Q) 482 signings Delivering ahead of plan Improved breadth of performance 2016 2017 2018 2019 2020 2021 2022 2
Slide 14: Delivering Growth: New Locations Signed
Delivering Growth: New Locations Signed Investor Day - December 2025 14 Our investment has driven a meaningful acceleration in Signatures >1,500 run rate New Locations Signed (10 Yrs) Signatures + 43% YoY (3Q) 482 signings Delivering ahead of plan Improved breadth of performance 2016 2017 2018 2019
Slide 15: Delivering Growth: New Locations Signed
Delivering Growth: New Locations Signed Investor Day - December 2025 15 Our investment has driven a meaningful acceleration in Signatures New Locations Signed (2022- 25) Signatures + 43% YoY (3Q) Delivering ahead of plan Improved breadth of performance Jan Feb Mar Apr May Jun Jul Aug Sep 2022 2023 2
Slide 16: Delivering Growth: New Locations Opened
Delivering Growth: New Locations Opened Investor Day - December 2025 16 Signatures now converting into capital-lite openings New Locations Opened, 10 Year View Openings + 41% YoY (3Q) Delivering ahead of plan Strong pipeline into 2026 2016 2017 2018 2019 2020 2021 2022 2023 2024 H1-25 Sep-25 Ann. An
Slide 17: Delivering Growth: New Locations Opened
Delivering Growth: New Locations Opened Investor Day - December 2025 17 Signatures now converting into capital-lite openings New Locations Opened, 10 Year View Openings + 41% YoY (3Q) 314 openings Delivering ahead of plan Strong pipeline into 2026 2016 2017 2018 2019 2020 2021 2022 2023 2024 H1-25 S
Slide 18: Delivering Growth: New Locations Opened
Delivering Growth: New Locations Opened Investor Day - December 2025 18 Signatures now converting into capital-lite openings >1,000 run rate New Locations Opened, 10 Year View Openings + 41% YoY (3Q) 314 openings Delivering ahead of plan Strong pipeline into 2026 2016 2017 2018 2019 2020 2021 2022 2
Slide 19: Delivering Growth: New Locations Opened
Delivering Growth: New Locations Opened Investor Day - December 2025 19 Signatures now converting into capital-lite openings New Locations Opened, 10 Year View Openings + 41% YoY (3Q) $1bn growth capex Delivering ahead of plan Strong pipeline into 2026 2016 2017 2018 2019 2020 2021 2022 2023 2024 H1
Slide 20: Delivering Growth: New Locations Opened
Delivering Growth: New Locations Opened Investor Day - December 2025 20 Signatures now converting into capital-lite openings New Locations Opened, 10 Year View $7m growth capex Openings + 41% YoY (3Q) $1bn growth capex Delivering ahead of plan Strong pipeline into 2026 2016 2017 2018 2019 2020 2021
Slide 21: Delivering Growth: New Locations Opened
Delivering Growth: New Locations Opened Investor Day - December 2025 21 Signatures now converting into capital-lite openings New Locations Opened, 2022-25 Openings + 41% YoY (3Q) Delivering ahead of plan Strong pipeline into 2026 Jan Feb Mar Apr May Jun Jul Aug Sep 2022 2023 2024 2025 Signatures Ope
Slide 22: Delivering Growth: New Location Trading
Delivering Growth: New Location Trading Investor Day - December 2025 22 New locations trading up in-line with expectations New Centre Fill Curve 80% Product/market fit 60% Network and scale 40% Platform, experience and know-how 20% 0% M1 M2 M3 M4 M5 M6 M7 M8 M9 M10 M11 M12 M13 M14 M15 M16 M17 M18 M1
Slide 23: Delivering Growth: New Location Trading
Delivering Growth: New Location Trading Investor Day - December 2025 23 New locations trading up in-line with expectations RevPAR 300 250 Product/market fit 200 Network and scale 150 Platform, experience and know-how 100 50 - 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 HY25 YE 202
Slide 24: Delivering Growth: Fee Income
Delivering Growth: Fee Income Investor Day - December 2025 24 Signatures → Openings → Fee Income as we delivery on the strategy Managed System Revenue ($m) • Revenue driven by Openings + 90 Trading Performance 80 104% 70 CAGR 60 • Mid-teens drop-though to 50 40 Management Fees 30 20 10 • Continue to
Slide 25: Diverse partner base
Diverse partner base Investor Day - December 2025 25 Accelerating growth of multi-site and institutional partners >80% <20% c25% of partners own Multi-site partners Institutional multiple buildings
Slide 26: Case Study: Europe
Case Study: Europe Investor Day - December 2025 26 Image 1 Image 2 Asset Manager, €500bn AUM 12 open IWG locations across 4 brands Adding multiple locations p.a. Image 3 Image 4
Slide 27: Case Study: USA
Case Study: USA Investor Day - December 2025 27 Image 1 Investment Manager, 33m sqft under management 13 IWG locations across 3 brands Multiple new opportunities in flight
Slide 28: Case Study: Europe
Case Study: Europe Investor Day - December 2025 28 Image 1 Insurance company, €55bn AUM Regeneration of an iconic shopping mall IWG managing 135k sqft including multiple amenities
Slide 29: Company Owned growth
Company Owned growth Investor Day - December 2025 29 Continue to see opportunities to add selective Company Owned assets on attractive terms Strategic assets Limited risk Minimal capital deployed Imagery here needs to talk to strategic locations – big, beautiful, famous buildings etc etc
Slide 30: Conclusion
Conclusion Investor Day - December 2025 30 Network growth strategy unchanged Opportunity continues to grow We are delivering as planned Further investment now driving accelerated growth Fee income and FCF will continue to grow
International Workplace Group — Investor Day (December 2025) on 6ix