#1#2Disclaimer 02 This presentation and the accompanying oral presentation (this "presentation") contain forward-looking statements. These statements may relate to, but are not limited to, expectations of future results of operations or financial performance of Blend Labs, Inc. ("Blend," the "Company," "we," "us," or similar terms), market size and growth opportunities, capital expenditures, plans for future operations, competitive position, technological capabilities, and strategic relationships, as well as assumptions relating to the foregoing. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "could," "would," "intend," "target," "project," "contemplate," "believe," "estimate," "predict," "potential" or "continue" or the negative of these terms or other comparable terminology. You should not put undue reliance on any forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. We have filed a registration statement on Form S-1 (including a preliminary prospectus) with the SEC for the offering to which this presentation relates. This registration statement has not been declared effective. Before you invest, you should read the preliminary prospectus in that registration statement and other documents we have filed with the SEC for more complete information about us and this offering. You may get these documents for free by visiting the SEC website at http://www.sec.gov. Alternatively, copies of the prospectus may be obtained from Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526, or by email at [email protected]; Allen & Company LLC, Attn: Prospectus Department, 711 Fifth Avenue, New York, NY 10022, by telephone at (212) 339-2220, or by email at [email protected]; or Well Fargo Securities, LLC, Attention: Equity Syndicate Department, 500 West 33rd Street, New York, New York 10001, toll-free at (800) 326-5897 or email a request to [email protected]. Forward-looking statements are based on information available at the time those statements are made and/or management's good faith beliefs and assumptions as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. In light of these risks and uncertainties, the forward-looking events and circumstances discussed in this presentation may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements. These factors could cause actual results, performance or achievement to differ materially and adversely from those anticipated or implied in the forward-looking statements. Moreover, we operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this presentation. Except as required by law, Blend does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise. This presentation contains statistical data, estimates and forecasts that are based on independent industry publications or other publicly available information, as well as other information based on our internal sources. This information involves many assumptions and limitations, and you are cautioned not to give undue weight to these estimates. We have not independently verified the accuracy or completeness of the data contained in these industry publications and other publicly available information. Accordingly, we make no representations as to the accuracy or completeness of that data nor do we undertake to update such data after the date of this presentation. The trademarks included herein are the property of the owners thereof and are used for reference purposes only. Such use should not be construed as an endorsement of the platform and products of Blend or this proposed offering. This presentation and any accompanying oral presentation shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.#3#4#5Blend Overview 05 Cloud-based software platform Our products make the process of getting a loan or opening a deposit account simpler, faster, and more secure Flexible, modular architecture We enable the rapid creation of new products through our modular architecture and low-code design tools Integrated marketplaces Through our products, we connect consumers to service providers at the precise moment of need Powerful network effects Our scale attracts an extensive ecosystem of partners, who integrate via our APIs, help us deliver value, and accelerate our growth. 162% 2020 dollar-based net retention rate 98% 2020 pro-forma revenue growth rate $33B Serviceable addressable market Nearly $1.4T 2020 loan volume customers processed through Blend blend#6The future of banking - - 06 Proactive Personalized Data-driven Emblem Good morning, Bailey! Based on your updated financial goals, we think you might be interested in a few great offers: Borrowing Protecting $50,000 $1,000,000 Homebuying Power Shop for more home with increased buying potential on a new mortgage Saving Investing $800,000 $1,000,000 Generate and send offer Spending $50,000 Home Improvements Increase the value of your current home with a home equity line of credit. $250,000 $100,500 $1,000,000 Access HELOC funds blend#7#8#9#10#11#12#13#14#15#16#17#18#19#20#21#22#23#24#25#26#27#28#29#30#31#32#33