Opendoor Investor Presentation Deck

Non-GAAP references Key Metric Total revenue Less: Less: ss: Less: Adjusted Gross Profit Less: Less: Total Contribution Profit Less: Less: Less: Less: Adjusted EBITDA Less: Adjusted Net Income Key Component Net purchase price Acquisition transaction costs Net repairs Ancillary product COGS Holding costs Selling costs Marketing spend Operations spend Fixed opex Timing adjustments / other D&A / taxes / other GAAP P&L Reference Cost of revenue Cost of revenue Cost of revenue Cost of revenue Sales, marketing and operations Sales, marketing and operations Sales, marketing and operations Sales, marketing and operations General and administrative Technology and development Sales, marketing and operations Description Transaction revenue (net resale price x homes sold) + ancillary product revenue Headline purchase price net of service charge Transaction costs related to the purchase of the property no / repair spend net of any repair charges to seller COGS related to ancillary products such as Title & Escrow Gross Profit related to homes sold in a specific period Property taxes, utilities, insurance, cleaning and HOA dues Buyer broker commission, other transaction costs Contribution Margin related to homes sold in a specific period Online, offline and brand spend Primarily related to customer sales, support and home operations G&A, R&D and other overhead costs Primarily related to costs for homes in inventory vs. resale cohort Adjusted EBITDA excludes non-cash / non-recurring costs Depreciation and amortization, property financing, interest, and taxes Adjusted Net Income is a proxy for operating free cash flow II. 45

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