Picture the Possibilities

Global Market & Peer Comparison While every market is unique, similarities exist in core business model and expansion approaches Market Context All numbers in USD Tx value² / vol² Commission % Business Model Other Details Key Drivers of Monetisation Other Details rightmove $490B / 1.5M 1.5 - 4% (United Kingdom) Exclusive instruction Supply constrained market Agent subscription with annual price rises 合 REA $477B3 / 0.7M4 1.5 - 4% Seller pays for advertising (0.5-1%, sometimes on top of agent commission) (Australia) >70% exclusive instruction Scout24 (Germany) . $217B / 0.7M8 3 -7% Buyer and seller agents split commission by law (previously only buyer paid commission) • 2Zillow (United States) $3.2T / 6.8M7 5 -6% Exclusive instruction Commoditized listings (MLS) Buyer and seller agents split 6% commission ✰ PropertyGuru Group Mortgage and conveyancing Rightmove has 88% share of top 4 portals Single market player Shift from agent subscription to discretionary (depth product spend) over time Mortgage and new homes offerings Support for agents to get marketing $$ from vendors (sellers) Agent subscription Agent commission share for sales mandates from platform Pay-per-lead (seller) SaaS license fees. Mortgage services Buyer advisory program Multi-market player Buyer and tenant subscription Agent subscription Share of voice pricing CPC/ CPM advertising • Mortgage and conveyancing Aiming to maximise "revenue per transaction": • iBuyer entry in 2019/ exit in 2021 Shift to a commission-share only model in certain areas 1- REA's Australia Property & Online Advertising segment only 2- http://www.hofinet.org/countries/index.aspx 3-ABS: Residential Property Price Indexes: Eight Capital Cities (Price), HIA, ABS: Total Value of Dwellings (Volumes) 4-HIA, ABS: Total Value of Dwellings (Volumes) 5-https://www.housingwire.com/articles/zillow-testing-major-changes-to-premier-agent-program/ 6- https://seekingalpha.com/article/4500202-zillow-growth-stock-cheap 7- National Association of Realtors (USA) 8-Scout24 2021 Annual Report 18

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