Opendoor Investor Presentation Deck

Attractive unit level returns on investment Illustrative home acquisition price Equity investment Asset-level financing Contribution Profit per home Contribution Margin Interest expense Contribution Profit per home after interest expense Contribution Margin After Interest Annual Contribution Profit after interest expense Incremental return per home Note: Asset-level financing assumed at 85% loan to cost Based on high end of baseline Contribution Margin range of 4 to 6% Assumed interest rate of 4.5% Assumed annual inventory turns of 3.65x based on holding period of 100 days Illustrative unit level returns Unlevered $350,000 $350,000 $21,000 6.0% $21,000 6.0% $76,650 ~20% Levered $350,000 $52,500 $297,500 $21,000 6.0% $3,668 $17,332 5.0% $63,263 ~120% 29

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