GROWTH STRATEGY

GROWTH STRATEGY 3 New Products and Services Appreciate Opportunity DIY Offering 70% of total current SFR market managed by DIY investors (1) Appreciate Value Proposition Less cost & higher automation than standard package Benefit to Appreciate Drives more efficient customer acquisition with potential to up- sell DIY customers to full- service package Asset Management SFR entrants lack asset management capabilities (2) For a market fee (~1% of SFR portfolio value), provide full- service asset management Increases retention of existing customers and provides additional monetization opportunity with no incremental marketing Referral & Data Monetization Leverage data and demand from Appreciate platform into new ancillary verticals Services for investors (mortgage referrals, home warranties, insurance) and residents (deposit alternatives, TV/cable, maintenance) Provides additional monetization opportunity with no incremental marketing The Iceberg Report (2) Asset management refers to portfolio-level decision-making and activities above the individual property level, including rebalancing, strategic capital expenditures, budgeting, and lender reporting Private & Confidential 31

View entire presentation