Opendoor Investor Presentation Deck

Positive margins across markets with improving profitability for successive cohorts 2021 Adjusted Gross Margin and Contribution Margin for pre-2021 markets Adjusted Gross Margin 9.6% TotalCo Adj. GM 6.5% TotalCo CM Contribution Margin Note: All metrics presented are non-GAAP, see reconciliation in Appendix. Margins by market include all markets launched pre-2021 Contribution Margin (CM) less marketing expense as % of revenue by market cohort, trailing twelve months 10% 5% 0% -5% H 12 - 24 Pre-2017 36 48 Number of months post launch 2017 2018 2019 60 2021 72 28

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