Ucommune International Ltd

Development of U Plus Services

Ucommune derives revenue from U Plus services in cooperation with its business partners and investees. As of June 30, 2024, Ucommune had over 700 business partners. Ucommune’s member base has grown steadily, increasing from approximately 1,176,970 as of December 31, 2021 to approximately 1,193,930 as of December 31, 2022, and further to approximately 1,205,310 as of December 31, 2023. Ucommune had approximately 1,208,610 members as of June 30, 2024. As its business grows, Ucommune has opportunities to provide more services and build a vibrant community serving wider group of members beyond the physical spaces.

The growth of revenue from U Plus services depends on Ucommune’s own capabilities, including through acquisitions or strategic investments, or through selected quality business partners to provide services that match the needs of its members at reasonable prices. Ucommune will make ongoing efforts, including investing time and money, to identify the needs of its members and provide quality and diversified services to them.