Opendoor SPAC Presentation Deck

Process is complex, uncertain, time-consuming and offline Note: Today, 89% of buyers and sellers use an agent, and this is their experience > Decide to move Receive an offer for $240,000 Receive an offer, negotiate, and accept Buyer inspection An inspector finds issues with the homes Settle for available home Make offer with no contingencies Find an agent Interview and find a listing agent Host several open houses 12 showings Negotiate repairs Seller has to negotiate the price or fix the issues Miss out on dream home Make an offer with multiple contingencies Repair and prep Repair, renovate and prep home List for sale for $250,000 List on the market for months Search for new home Visit 12 occupied homes Wait for close 20% of deals fall through Agent use, 89%, per National Association of Realtors report List days, home visits and fall-through metrics based on analysis of Multiple Listing Service (MLS) and Company data Per transaction $values indicative based on $250K home value Finally move Costing as much as 12%+ of the transaction Broker commission Item Seller concessions Closing costs Home renovation/repairs Double mortgage Moving costs Staging Home warranty Total Cost $13,750 $3,750 $3,750 $2,500 $2,500 $1,259 $1,185 $936 $29,630 11

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