Blend Results Presentation Deck

Footnotes Note 1: Market Share is management's estimate of Blend's mortgage market share for the specified period based on signed customers, split between funded volume and untapped volume. Funded volume is calculated as (i) the number of mortgage banking funded loans processed on the Blend Platform in the period (actual reported funded loans in the period plus an estimate of unreported funded loans for the current quarter), divided by (ii) total mortgage market volume in the same period as calculated by using Mortgage Bankers Association (MBA) data. Untapped volume is calculated as (i) the estimated remaining number of loans at signed customers in the period that were not processed on the Blend Platform, divided by (ii) total mortgage market volume in the same period as calculated by using MBA data. Also note that mortgage market volumes are updated periodically by management based on updates from the Home Mortgage Disclosure Act data. Note 2: Gross Revenue Retention measures revenue lost from our customer base, not including any benefits from expansion revenue or price increases. Gross retention for a quarter is calculated from total revenue from the same quarter in the prior year (excluding expansion and price increases) less revenue from customers that have churned in the last 12 months divided by the revenue from the same quarter in the prior year. Note 3: Market Adjusted Net Revenue Retention is the percentage of management's estimated Economic Value retained from our customer base in the current quarter compared to the Economic Value from the same quarter one year ago, adjusted for fluctuations in mortgage market volumes based on third-party estimates. Current period Economic Value is aggregated for all customers who had Economic Value one year prior. This number is then divided by the market adjusted Economic Value of the previous year. Economic Value is based on management's estimates and is defined as: Mortgage, close, realty, and title per funded contractual rate multiplied by the number of funded loans or transactions in the period, adjusted by the year over year market growth or decline rate, plus Net present value of insurance premiums sold in the period, including estimated renewals, adjusted by the year over year market growth or decline rate based on third-party estimates, plus Consumer banking per funded contractual rate multiplied by the number of funded loans in the period (note: not adjusted for market volume changes), plus Professional services and other revenues in the period (note: not adjusted for market volume changes). ● To take into account fluctuations in mortgage market volumes, management adjusts our net revenue retention (i) downward in quarters where market volumes are increasing relative to prior period market volumes and (ii) upward in quarters where market volumes are decreasing relative to prior period market volumes. blend 18

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