Investor Presentaiton

Track record of new market launches Infrastructure in place to launch efficiently Market share by market maturity 1.5% Centralized customer operations 1.3% Centralized teams to service sellers and buyers end-to-end Scalable pricing systems Mature market data improves pricing in new markets I Small, efficient in-market launch teams 3 in-market teammates to launch a new market Note: Market share based on Company Resale Closes and MLS transaction data Market share 1.0% 0.8% 0.5% 0.3% 2 3 4 5 6 7 8 7 8 9 Month of operation 10 11 12 • Phoenix Next 5 ● Next 15 22

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