#1Offerpad. INVESTOR PRESENTATION Q2 2023 UPDATE KIA Offerpada SOLD#2Disclaimer Forward-Looking Statements Certain statements in this Presentation may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or Offerpad Solutions Inc.'s (the "Company") plans, strategies, business prospects, market opportunity and future financial or operating performance. Statements using words such as "may," "should," "could," "might," "plan," "possible," "project," "strive," "budget," "forecast," "expect," "intend," "will," "estimate,” “anticipate,” “believe,” “predict," "potential" or "continue," or the negatives of these terms, are also forward-looking. Such forward-looking statements are subject to numerous risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including but not limited to: the outcome of any legal proceedings that may be instituted against the Company; changes in applicable laws or regulations; the ability to respond to general economic conditions; the health of the U.S. residential real estate industry; the ability to grow market share in existing markets or any new markets; the ability to manage growth effectively; the ability to accurately value and manage inventory, and to maintain an adequate and desirable supply of inventory; the ability to successfully launch new product and service offerings, and to manage, develop and refine the technology platform; and other risks and uncertainties set forth in the sections entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in the Company's Annual Report on Form 10-K filed on February 28, 2023 and other documents filed by the Company from time to time with the Securities and Exchange Commission (SEC). You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Company does not undertake any duty to update these forward-looking statements. Financial Information; Non-GAAP Financial Measures This Presentation also includes certain financial measures not presented in accordance with generally accepted accounting principles ("GAAP") including, but not limited to, Contribution Margin, Adjusted EBITDA, Adjusted Net (Loss) Income, Adjusted Gross (Loss) Profit and certain ratios and other metrics derived therefrom. Contribution Margin means net sale proceeds less holding and selling costs, plus other services. Adjusted EBITDA includes adjustments for amortization of share based compensation, impairments and other non-cash expense. The Company calculates Adjusted Net Income (Loss) as GAAP Net Income (Loss) adjusted for the change in fair value of warrant liabilities. The Company calculates Adjusted Gross Profit as gross profit under GAAP adjusted for (1) net inventory valuation adjustment plus (2) interest expense associated with homes sold in the presented period and recorded in cost of revenue. Net inventory valuation adjustment is calculated by adding back the inventory valuation adjustment charges recorded during the period on homes that remain in inventory at period end and subtracting the inventory valuation adjustment charges recorded in prior periods on homes sold in the current period. These non-GAAP financial measures are not measures of financial performance in accordance with GAAP and may exclude items that are significant in understanding and assessing the Company's financial results. Therefore, these measures should not be considered in isolation or as an alternative to net income, cash flows from operations or other measures of profitability, liquidity or performance under GAAP. You should be aware that the Company's presentation of these measures may not be comparable to similarly-titled measures used by other companies. The Company believes these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to the Company's financial condition and results of operations. The Company believes that the use of these non- GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends in and in comparing the Company's financial measures with other similar companies, many of which present similar non-GAAP financial measures to investors. These non-GAAP financial measures are subject to inherent limitations as they reflect the exercise of judgments by management about which expense and income are excluded or included in determining these non-GAAP financial measures. This Presentation also includes certain projections of non-GAAP financial measures. The Company has not provided a quantitative reconciliation of forecasted Adjusted EBITDA to forecasted net income (loss) within this presentation because the Company is unable to calculate certain reconciling items without making unreasonable efforts. These items, which include, but are not limited to, stock-based compensation with respect to future grants and forfeitures, could materially affect the computation of forward-looking net income (loss), are inherently uncertain and depend on various factors, some of which are outside of the Company's control. Industry and Market Data In this Presentation, the Company relies on and refers to certain information and statistics obtained from third-party sources which the Company believes to be reliable. The Company has not independently verified the accuracy or completeness of any such third-party information. Offerpad. 2#3Offerpad. Offerpad. OUR MISSION: PROVIDE YOUR BEST WAY TO BUY AND SELL A HOME. PERIOD. 3#401 10 REAL ESTATE IS CHANGING 02 OFFERPAD'S MARKET APPROACH 03 OFFERPAD'S GROWTH DRIVERS 04 BUSINESS MODEL POSITIONED TO PERFORM 05 APPENDIX Offerpad.#501 REAL ESTATE IS CHANGING Offerpad. www#6Massive and evolving market presents substantial opportunity $2.3T Real Estate opportunity today 99% analog ~1% Digital penetration 2 MARKET OPPORTUNITY $1.3T³ "BUY BOX" TODAY $4.0B 2022 REVENUE 1 2022: US Census & National Association of Realtors 2 Company Estimates 3 2022: Houses in the US in the price range of $0 - $750K 60#7Offerpad is transforming the industry by simplifying the transaction As long as 6 months or more to buy or sell a home. Closing can take 6+ 30+ Days 30+ days & $1000's of list ready repairs 10+ showings 30+ days on market 30-45 days in escrow months TRADITIONAL Broker search Prepare listing & marketing Showing & open house Closing Close in as little as 3 days Offerpad. VS. 24 hrs to receive cash offer Zero list ready repairs OFFERPAD Zero showings or open houses under contract in 24 hrs Close in as little as 3 days 24 hrs for sellers to receive certainty and move on their schedule 7#8Offerpad's industry impact is growing Offerpad. 1234 Nearly 74,000 real estate transactions since inception¹ >10,000 homes sold in 2022 >300,000+ visits to offerpad.com² 1 As of Q2 2023 2 Average/month based on internal data 80#902 OFFERPAD'S MARKET APPROACH L Offerpad. 16820#10Strong customer value proposition supports growth potential CONVENIENCE | CERTAINTY | CONTROL CASH OFFER For those who want to sell on their own schedule with more convenience, certainty and control. Strong Cash Offer Sell Without Listing No Showings LISTING SERVICE For those who want to buy or list with guidance from real estate experts. Back-up Cash Offer on Qualifying Properties Dedicated Local Experts Market Power Home Improvement Advance ANCILLARY SERVICES Offering personalized solutions to meet each individual customers needs. Bundle Rewards Mortgage Offerings Title Services Custom Renovations Pick Your Closing Day FREE Show-Ready Services Free Local Move 3-Day Extended Stay We are results oriented & quality focused so our customers can move freely. Offerpad. 10#11Our customers are our best reference +64 NET PROMOTER SCORE* ☆☆☆☆☆ "Fair, kind, Knowledgeable" 100110111110 Offerpad. Jose and Tonya in Florida 9 OUT OF 10 WOULD RECOMMEND TO A FRIEND* AAAAA "Quick and efficient" Sharon in Florida "The entire process was stress free" Victoria and Charles in Georgia 92% CUSTOMER SATISFACTION* 101110011011110 * Based on survey of approximately 380 customers who sold their home to Offerpad in 2023. 11#12Sophisticated renovation operation expands market opportunities $ AVERAGE COST AVERAGE DAYS $25,000 Renovations completed in Q2 2023 21 Number of days per project in Q2 2023 UTILIZE IN-HOUSE TALENT AND VETTED EXTERNAL SPECIALISTS TO INCREASE QUALITY AND CONTROL 31,000+ home renovations completed since inception Offerpad. PROPRIETARY FIELD AUTOMATION 100% 8:34 AM Disposition ♦ A 100% 8:35 AM Notes Q Search here to filter by message o Enter your message... SUBMIT I am on my way to the property now Gint Grabauskas Reducing to $309,900 04/08/2019 03:12 PM Came Meehan Active On Marke VIEW ACQUISITION VIEW RENOVATION ✓ Overview Status Workflow Step Gate Code Instant Access Code 03/27/2019 02:00 PM REMOVED sign cart see it from the street Offer Received Enca Lichtsinn 03/14/2019 12:00 PM Instal IA sign in window above den LL ORDER #701288 ptist Acce Aly Anderson FILES NOTES ACTIVITY 03/13/2019 10:30 AM Updated financing in the listing per AG notes Helix GO Field Automation 12#1303 OFFERPAD'S GROWTH DRIVERS#14Growth plan includes multiple profit expansion touch points Market penetration in existing markets Long-term goal to drive total market share to 3-4%, from current less than 1% Expanding business to business services Direct Plus: connecting institutional buyers with sellers Renovation as a service Innovative ancillary services • Bundle Rewards, Mortgage, Title, Contribution margin uplift opportunities Offerpad. 14#151.4% 1.2% 1.0% 0.8% 0.6% 0.4% 0.2% Large growth opportunity within existing markets Offerpad Market Share in Existing Markets 0.0% Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Offerpad. Market share impacted by slowdown in the broader real estate market in late 2022 Lifetime Aggregate Revenue of over $10B Source: Based on internal transaction data and market level information from third party aggregator sources 15#16Responsible market expansion mitigates risk through geographic diversification Market Strategy Geographical diversity • Historical transactions (quantity & composition) • Housing affordability ⚫Housing supply and demand • Population and employment growth Expansion Strategy •Prudent market expansion throughout history, limiting concentration risk and diversifying portfolio 25 markets/1,700+ cities & towns nationwide LAS VEGAS FT. COLLINS DENVER COLORADO SPRINGS FT. WAYNE INDIANAPOLIS KANSAS CITY ST. LOUIS COLUMBUS NASHVILLE RALEIGH CHARLOTTE Offerpad. PHOENIX TUCSON Offerpad. COLUMBIA ATLANTA BIRMINGHAM DALLAS- FORT WORTH AUSTIN HOUSTON SAN ANTONIO JACKSONVILLE ORLANDO TAMPA FT. MYERS 16#172023 product priorities moves towards providing solutions for all customers Product expansion changes the capital intensity of our model Offerpad. EXPRESS Company's core product segment, providing customers the ability to sell for a cash offer, on their own schedule with more convenience, certainty, and control Offerpad. DIRECT+ Matches institutional buyers with sellers - customer receives the same Offerpad experience and benefits from getting the best cash offer available Capital Light Allows customers ability to buy and list with confidence and access expert guidance from Offerpad real estate experts Leverages Offerpad's national renovation strength, experience, technology, and logistics to upgrade, repair, and turn homes for business partners, real estate agents, and individual consumers Capital Light Offerpad. Offerpad. FLEX Offerpad. Renovate Capital Light 17#18Numerous product innovation opportunities Product Expansion Roadmap CURRENT PRODUCT OFFERINGS Express Cash Offer, Flex Listing Service, Mortgage, Title, Renovations, Direct +, Bundle Rewards POTENTIAL NEAR-TERM PRODUCT OFFERINGS Home Warranty, Insurance Offerpad. SELL? BUY? LOAN? WE GOT YOU. One Team Norking For You Save Up To $4,000 Bundling Makes It Easy POTENTIAL LONG-TERM PRODUCT OFFERINGS Smart Home, Energy Efficiency Enter Home Address Offerpad. START WE CAN HELP YOU DO LITERALLY (ALMOST) EVERYTHING Sell Buy Sell & Buy Home Loans Offerpad. START REQUEST Log In LIST WITH CASH-BACKED-OFFER Backup Cash Offer Local Agent Support STRESS-FREE HOME SELLING Free Cleaning & Landscaping Enter Home Address START WE CAN HELP YOU DO LITERALLY (ALMOST) EVERYTHING 18#1904 BUSINESS MODEL POSITIONED TO PERFORM#20Years of platform investment positions us for future growth Cumulative Value of Homes Sold Since 2015 ($M) Jun 2020 Platform buildout and operational expertise Market expansion Grew nationwide footprint, expanding into 28 markets covering 26% of national real estate transactions Public listing Gil Present Launched home loan mobile app, Direct+ Serving customers in 28 markets Founded 2015 Launched first market in Phoenix Nov 2017 Announced partnership with Loan Depot to streamline real estate process for consumers and real estate professionals May 2019 Partnered with First American Title to deliver closing services Oct 2019 Launched Greenhouse, the research & development arm of Offerpad Flex Launch Apr 2020 Launched Instant Access and Agent- on-Demand to better serve homeowners Sep 2021 Offerpad debuts on the NYSE (OPAD) $5,461 $4 2015 Offerpad. Jan 2016 Launched Offerpad Investor Direct ......... $2,331 $3,399 $9,406 $1,247 $385 $72 2016 2017 2018 2019 2020 2021 2022 20 20#21Model increases value creation potential LEVERAGING TECHNOLOGY Offerpad. Offerpad. HELLO RENOVATING TO ADD VALUE EXPEDITING TIME TO CASH* DD 133 DAYS 32 DAYS 104 DAYS 95 DAYS 95 DAYS 76 DAYS 101 DAYS 2017 2018 2019 2020 2021 2022 IL wwwwwww *Time to cash measures the time from when a home is acquired to sold 21#22KPI results show improvement after abrupt market shift in 2022 Revenue ($M) Gross Profit ($M) & Margin $1,080 $822 $677 $610 Q2'22 Q3'22 Q4'22 $230 8.6% $93 Q2'22 Q1'23 Q2'23 Homes Acquired & Homes Sold Acquired Sold 3,792 2,888 2,280 1,865 1,609 1,847 840 539 364 Q2'22 Offerpad. Q3'22 Q4'22 Q1'23 650 Q2'23 $2 0.3% Q3'22 1.2% $22 $7 -$45 -6.6% Q4'22 Q1'23 Net Income (Loss), Adj. Net Income (Loss) & Adj. EBITDA ($M) NET INCOME ADJ. NET INCOME (LOSS) (LOSS) ADJ. EBITDA $13.7 $11.6 ($1.0) 9.7% Q2'23 ($17.3) ($44.8) ($22.3) ($22.8) ($64.3) ($59.1) ($80.0) ($103.7) ($59.4) ($82.0) ($121.1)$124.5) Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 See Slides 29-30 for a reconciliation to the most directly comparable GAAP measure and additional information. 22 22#23Q2'23 Total Contribution Margin After Interest Per Home Sold $15k 4.3% ($4k) -1.0% ($11k) -3.1% $1k ($9k) ($3k) -0.8% $6k -2.6% 1.8% Net Sale Proceeds Holding Costs Selling Costs Contribution Margin Contribution Margin After Interest Other Services Total Contribution Margin After Interest Offerpad. 23#24Q2'23 Total Contribution Margin After Interest Per Home Sold Excluding Inventory Acquired August'22 & Earlier $40K ($2K) -0.6% ($10K) 12.0% $8K $31K -3.0% $28K 2.5% $23K 8.4% 7.0% 9.5% Net Sale Proceeds Holding Costs Selling Costs Contribution Margin Contribution Margin After Interest Other Services Total Contribution Margin After Interest Offerpad. 24#252Q 2023 Results Revenue $230.1M (62%) QoQ Homes Acquired 840 +131% QoQ Homes Sold 650 (60%) QoQ Net Income (loss) ($22.3M) ($121.1M) Q4 2022 • Q2 2023 HIGHLIGHTS Managed through remaining legacy inventory acquired Aug'22 & earlier More than doubled Acquisition volume QoQ Contribution profit after interest per Home Sold excluding Legacy Inventory of $31k Adj. EBITDA Gross profit (loss) per home sold Contribution Profit (loss) after Interest per Home Sold Offerpad. ($17.3M) ($103.7M) $34.2K ($2.9K) Q4 2022 ($24.1K) Q4 2022 ($32.8K) Q4 2022 Note: QoQ represents a comparison against the comparable period in the prior quarter (2Q 23 vs. 1Q 23). Legacy Inventory defined as homes acquired in August' 22 and earlier 25#26Third Quarter 2023 outlook HOMES SOLD 600-700 REVENUE $200M $240M - ● ADJUSTED EBITDA¹ ($17)M - ($9)M Offerpad. 1 See Non-GAAP financial measures on slide 2 for an explanation of why a reconciliation of this guidance cannot be provided. 13 26#27Offerpad investment highlights LARGE ADDRESSABLE MARKET Offerpad operates in the residential real estate industry with a Total Addressable Market of $2.3T. ● FOCUSED BUSINESS MODEL Offerpad is focused on responsible, long-term growth powered by our real estate expertise and advanced, proprietary algorithms that help optimize each transaction. COMPETITIVE DIFFERENTIATION Offerpad's suite of real estate services provides customizable options to meet each customer's needs. ATTRACTIVE GROWTH PROFILE Offerpad's growth is fueled by increasing our existing market penetration and the rollout of additional ancillary services that create diversified revenue streams and increase the value proposition for our shareholders. Offerpad. 27 22#2805 APPENDIX#29The lifecycle of a home with Offerpad Seller request received Acquisition Verifies data & evaluates home with Offercomp Offer delivered within 24 hours Contract signed with Solutions Advisor Homes marketed and potentially sold via Offerpad Direct Offerpad. 1-10 Weeks Diligence Home acquired 田 Renovation Home listed Disposition On Market 45 days In Escrow 30 days FOR SALE Home sold Renovation Final walk through completed Listing prepared & final list price set Home marketed through Offerpad's and quality Offerpad platform & MLS Instant Access Technology Buyer leads sent to Flex control assessed Inspection reviewed by Property Investment Analyst / Final inspection completed by Home Marketing Consultant scope created Project Manager completed finalizes scope and assigns crew and vendors 1-2 Weeks 4-10 Weeks SOLD Total time to cash ~90-120 Days 29 20#30NON-GAAP RECONCILIATIONS (in thousands, except percentages and homes sold, unaudited) Gross (loss) profit Gross margin Homes sold Gross profit (loss) per home sold Adjustments: Inventory valuation adjustment - current period Inventory valuation adjustment - prior period Interest expense capitalized Adjusted gross profit (loss) Adjusted gross margin Adjustments: Direct selling costs Holding costs on sales - current period Holding costs on sales - prior period Other income, net Contribution profit (loss) Contribution margin Homes sold Contribution profit (loss) per home sold Adjustments: Interest expense capitalized Interest expense on homes sold - current period Interest expense on homes sold - prior period Contribution profit (loss) after interest Contribution margin after interest Homes sold Contribution (loss) profit after interest per home sold Offerpad. Three Months Ended June 30, 2023 March 31, 2023 December 31, 2022 September 30, 2022 June 30, 2022 $ 22,231 9.7% $ 7,285 $ (44,860) $ 2,159 $ 1.2% -6.6% 0.3% 650 1,609 1,865 2,280 34.2 4.5 (24.1) 0.9 92,981 8.6% 2,888 32.2 169 7,285 44,075 27,529 20,995 (13,679) (51,515) (25,469) (8,955) (287) 1,358 4,677 3,081 2,508 2,793 10,079 (32,268) (23,173) 23,241 116,482 4.4% -5.3% -3.4% 2.8% 10.8% (5,743) (18,061) (20,584) (21,419) (23,524) (269) (1,248) (1,251) (1,765) (1,293) (567) (1,886) (1,209) (405) (526) 965 282 861 643 24 4,465 (53,181) (45,356) 295 91,163 1.9% -8.7% -6.7% 0.0% 8.4% 650 1,609 1,865 2,280 2,888 6.9 (33.1) (24.3) 0.1 31.6 (1,358) (4,677) (3,081) (2,508) (2,793) (1,292) (5,498) (5,858) (5,707) (4,115) (3,708) (12,032) (6,943) (2,382) (1,999) (1,893) (75,388) (61,238) (10,301) 82,256 -0.8% -12.4% -9.0% -1.3% 7.6% 650 1,609 1,865 2,280 2,888 (2.9) (46.9) (32.8) (4.5) 28.5 Note: Current period represents adjustments for costs incurred on homes sold in the period presented and prior periods represents adjustments for costs incurred in prior periods on homes sold in the period presented. Numbers may not total due to rounding. 30#31NON-GAAP RECONCILIATIONS CONT. (in thousands, except percentages, unaudited) Net (loss) income (GAAP) Change in fair value of warrant liabilities Adjusted net (loss) income Adjusted net (loss) income margin Adjustments: Interest expense Amortization of capitalized interest (1) Income tax expense Depreciation and amortization Amortization of stock-based compensation Adjusted EBITDA Adjusted EBITDA margin Offerpad. $ June 30, 2023 (22,344) $ March 31, 2023 (59,447) Three Months Ended December 31, 2022 September 30, 2022 June 30, 2022 $ (121,137) $ (435) 389 (3,360) (80,022) (1,961) $ 11,558 (12,537) $ (22,779) $ (59,058) (124,497) (81,983) $ (979) (9.9%) (9.7%) (18.4%) (10.0%) (0.1%) 1,867 7,432 15,135 15,889 7,771 1,358 4,677 3,081 2,508 2,793 43 122 324 (3,474) 1,610 178 202 258 515 130 2,055 (17,278) (7.5%) 1,843 (44,782) (7.3%) 2,014 (103,685) (15.3%) 2,265 (64,280) (7.8%) 2,400 13,725 1.3% 1 Amortization of capitalized interest represents all interest related costs, including senior and mezzanine interest related costs, incurred on homes sold in the period presented that were capitalized and expensed in cost of sales at the time of sale. Note: Numbers may not total due to rounding. 31#32NON-GAAP RECONCILIATIONS CONT. Offerpad. (in thousands, except percentages and homes sold, unaudited) Gross profit (GAAP) Gross margin Homes sold Gross profit per home sold Adjustments: Inventory valuation adjustment - current period (1) Inventory valuation adjustment - prior period (2) Interest expense capitalized (3) Adjusted (loss) gross profit Adjusted gross margin Adjustments: Direct selling costs (4) Holding costs on sales - current period (5)(6) Holding costs on sales - prior period (5)(7) Other income, net (8) Contribution (loss) profit Contribution margin Homes sold Contribution (loss) profit per home sold Adjustments: Interest expense capitalized (3) Interest expense on homes sold - current period (9) Interest expense on homes sold - prior period (10) Contribution (loss) profit after interest Contribution margin after interest Homes sold Contribution (loss) profit after interest per home sold Three Months Ended June 30, 2023 Acquired Aug'22 & Prior Acquired Sep'22 & Later Cohort Total $ 329.00 $ 0.5% 21,902.00 13.5% $ 22,231.00 9.7% 159 491 650 2.1 44.6 $ 34.2 105 64 169 (11,990) (1,689) 669 689 (13,679) 1,358 $ (10,887) -16.0% $ 20,966 $ 10,079 12.9% 4.4% (1,790) (3,953) (5,743) (93) (176) (269) (467) (100) (567) 965 965 (13,237) 17,702 4,465 -19.5% 10.9% 1.9% 159 491 650 (83.3) $ 36.1 $ 6.9 (669) (689) (1,358) (397) (895) (1,292) (2,962) (746) (3,708) $ (17,265) -25.4% 159 $ 15,372 $ (1,893) 9.5% -0.8% 491 650 (108.6) $ 31.3 $ (2.9) Note: Current period represents adjustments for costs incurred on homes sold in the period presented and prior periods represents adjustments for costs incurred in prior periods on homes sold in the period presented. Numbers may not total due to rounding. 32#33Offerpad HOME SWEET HOME