Opendoor SPAC Presentation Deck

Centralization & automation driving ongoing cost reductions Note: Centralization & automation Transactions / person agent Opendoor We are 12x more efficient than a traditional agent Traditional Continued reduction in net cost structure (first 6 markets) 1Q18 1Q19 Opendoor productivity based on 2019 total closes and average operator headcount; traditional agent based on National Association of Realtors report Net cost structure based on transaction costs, holding costs, buyer broker commissions and interest expense, net of services contribution ~150bps improvement 1Q20 -$3,500/home eliminated from system 27

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