Investor Presentation February 2022

Zillow Investment Overview Our Mission: Give people the power to unlock life's next chapter Big Customer Problem: Difficult and expensive to move . Our Solution: The 'housing super app' • • - people desire a simpler way connects customers with partners and integrated digital solutions Large and Growing Market: Housing is a growth industry with ~$300 billion in transaction fees Significant Growth Opportunity: Integrating services to meet high-intent movers' needs so they choose to transact with us and our partners - driving customer transactions and revenue per customer transaction² 2025 Financial Targets: $5 billion revenue and 45% Adjusted EBITDA margin Strong Financial Foundation: Continued revenue growth, high margins, flexible balance sheet and positive cash flow • Seasoned Management Team: Experienced team with long history of focus on shareholder value creation Well-Positioned Brand with Industry-Leading Technology: Leading online real estate audience³ and strong engagement with high-intent movers and partner networks 1. $300 billion is inclusive of Zillow Group's estimate of $100bn in referral fees derived from participating in real estate transactions with our partners per the 2021 National Association of REALTORS® U.S. Economic Outlook, Title and Escrow premiums of "$26bn per the American Land Title Association and Doma estimates, Mortgage Origination estimated revenue of $155 bn per the Mortgage Bankers Association, and rentals estimated industry revenue of $16bn per Fortune Business Insights and Zillow Group internal data. 2. Please see the appendix slides for important information about these operating metrics. 3. Comscore data as of January 2022. 4. Zillow Group internal data. 3 ZILLOW GROUP

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