Investor Presentaiton

Early stages of the digital transformation in real estate Category Retail Transportation Used auto sales Real estate % Online 14% 4% Market leader amazon Uber Market capitalization ~$1.5T ~$50B Note: Online penetration metrics are based on public filings and third party research Market capitalization values are approximated as of August 31, 2020 10 1% CARVANA <1% Opendoor ~$30B 26

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