Investor Presentaiton
Legal Disclosure
This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934
about the future financial performance and results of Zillow Group, Inc. (the "Company" or "Zillow Group") that involve risks and uncertainties. The Company's actual results
may differ materially from those anticipated in these forward-looking statements due to actions taken by Zillow Group as well as from risks and uncertainties beyond Zillow
Group's control. Differences in Zillow Group's actual results from those described in these forward-looking statements may result from actions taken by Zillow Group as well as
from risks and uncertainties beyond Zillow Group's control. Factors that may contribute to such differences include, but are not limited to, the impact of the novel coronavirus
("COVID-19") pandemic and any associated economic downturn on Zillow Group's future financial position, operations and financial performance; the magnitude, duration and
severity of the COVID-19 pandemic; the current and future health and stability of the economy and residential housing market, including any extended slowdown in the real
estate markets as a result of COVID-19; Zillow Group's ability to execute on strategy; Zillow Group's ability to maintain and effectively manage an adequate rate of growth; Zillow
Group's ability to innovate and provide products and services that are attractive to its users and advertisers; Zillow Group's investment of resources to pursue strategies that
may not prove effective; Zillow Group's ability to compete successfully against existing or future competitors; the impact of pending legal proceedings described in Zillow
Group's filings with the Securities and Exchange Commission, or SEC; Zillow Group's ability to successfully integrate and realize the benefits of its past or future strategic
acquisitions or investments; Zillow Group's ability to maintain or establish relationships with listings and data providers; the reliable performance of Zillow Group's network
infrastructure and content delivery processes; Zillow Group's ability to obtain or maintain licenses and permits to support our current and future businesses; actual or
anticipated changes to our products and services; and Zillow Group's ability to protect its intellectual property. The foregoing list of risks and uncertainties is illustrative but not
exhaustive. For more information about potential factors that could affect Zillow Group's business and financial results, please review the "Risk Factors" described in Zillow
Group's Annual Report on Form 10-K for the year ended December 31, 2019 and in Zillow Group's Quarterly Report on Form 10-Q for the three months ended March 31, 2020
filed with the U.S. Securities and Exchange Commission. These documents are available in the Investor Relations section of the Company's website at
https://investors.zillowgroup.com. The forward-looking statements made in this presentation are based on information available and assumptions as of May 7, 2020. Except as
may be required by law, the Company does not intend, and undertakes no duty, to update this information to reflect future events.
This presentation includes certain non-GAAP financial measures, including Adjusted EBITDA on both a consolidated basis and by segment and Return on Homes Sold Before
Interest Expense, which are key metrics used by our management and board of directors to measure operating performance and trends, and to prepare and approve our
annual budget. You should not consider these metrics in isolation or as a substitute for analysis of our results as reported under GAAP. Reconciliation tables and other
important information about the Company's financial results are included in the Appendix of this presentation.
This presentation also contains estimates and other statistical data made by independent parties and by Zillow Group relating to market size and growth and other data about
Zillow Group's industry. These data involve a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. Projections,
assumptions and estimates of the future performance of the markets in which we operate are necessarily subject to a high degree of uncertainty and risk. The trademarks
included herein are the property of the owners thereof and are used for reference purposes only.
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