Opendoor Investor Presentation Deck

We see improvements in conversion as we lower spreads and increase brand awareness We understand how conversion responds to adjustments in our offer spreads Spread vs. conversion True Seller Conversion 40% 30% 20% 10% 0% 11% Average Spread Note: Spreads defined as total discount to valuation less the 5% Opendoor service fee 0% Increased awareness improves conversion Brand awareness over time 26%+ 2019 2023 Proven playbook to attract sellers Our acquisition funnel: Serviceable addressable market (SAM) Distribution channels Offers Reengagement Conversion 25

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