Investor Presentation February 2022

Non-GAAP Measures Adjusted EBITDA The following table presents a reconciliation of IMT segment Adjusted EBITDA to the most directly comparable GAAP financial measure, which is IMT segment income (loss) before income taxes, for each of the periods presented (in thousands, unaudited): IMT Segment Adjusted EBITDA Reconciliation Reconciliation of Adjusted EBITDA to Income (Loss) Before Income Taxes Year Ended December 31, 2018 Income (loss) before income taxes (1) $ (67,638) $ Year Ended December 31, 2019 80,060 $ Other income Depreciation and amortization Share-based compensation Impairment and restructuring costs Acquisition-related costs Interest expense Adjusted EBITDA Year Ended December 31, 2020 262,984 (6,300) Year Ended December 31, 2021 $ 544,590 91,232 73,369 89,862 99,026 131,404 160,434 134,691 200,963 76,000 73,900 27 8,616 $ 240,025 $ 303,863 $ 556,137 $ 853,226 Revenue IMT Segment Percentage of Revenue IMT Segment Adjusted EBITDA Margin $ 1,201,143 $ 1,276,896 $ 1,450,232 $ 1,885,782 20% 24% 38% 45% (1) We use income (loss) before income taxes as our profitability measure in making operating decisions and assessing the performance of our segments, therefore, net income (loss) and income tax benefit (expense) are calculated and presented only on a consolidated basis within our financial statements and not included in the above reconciliation. 21 ZILLOW GROUP

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