Opendoor SPAC Presentation Deck

Well capitalized with scalable, efficient financing in place Note: Committed, non-recourse asset-backed facilities of $3.4B(¹) Lender recovery based on collateral Diversified and high quality lender base with staggered maturities Proven ability to scale capacity and reduce costs . Increased advance rate from ~80% to -100% Decreased interest spread from ~650 to -250 Attractive debt financing ~80% L+~650 2016 ~90% L + ~350 2018 (2) Advance rate" -100% L + ~250 2020 Senior debt cost (3) Pro forma equity capital ($M) $679 $551 Opendoor Adjusted Equity (4) (1) As of September 30, 2020, $3.4bn in total borrowing capacity with $2.0bn in committed capacity. Debt facilities are restricted use for the purchase of homes (2) Advance rate and senior debt cost are representative. Advance rate represents the combined senior and mezzanine advance on the purchase price of homes at time of acquisition (3) Interest rates presented are an approximate average, weighted by senior bank committed capacity (4) Adjusted Equity is a non-GAAP metric. As of September 30 2020, Adjusted Equity was equal to $673M in GAAP equity plus $6M in Warrant Liabilities (5) Cash includes Unrestricted Cash and Marketable Securities as of September 30, 2020 (6) Assumes no redemptions $972 Cash (5) Expected net transaction proceeds $1,651 $1,523 Pro Forma Adjusted Equity (6) Cash 48

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