Touring and Market Expansion

Zillow Investment Overview Largest real estate brand building integrated solutions to make transacting better for customers, partners and the industry while targeting sustainable profitable growth Big Customer Problem Complicated and expensive to move - people desire a simpler and more affordable way to transact Our Solution Zillow, the 'housing super app' - end-to-end transaction solutions provided by integrated digital tools, IP operators and best in class 3P partners Well-Positioned Brand with Industry-Leading Engagement Leading online real estate audience', engagement with high-intent movers² and best-in-class partner networks Deep Technology Expertise We are an engineering- and product-first, founder-led company using our technology expertise to solve real pain points for customers, partners and the industry Large Growth Market Near Cyclical Lows Total transaction value has averaged 6% annual growth over the past ~50 years³ on an annualized basis with existing home sales and purchase mortgages near cyclical lows. 1. Comscore data for the year ended December 31, 2023. 2. Zillow Group internal data. 3. See slide 11 for additional information about how we calculate total transaction value. 4. See slide 13 for additional information about how we calculate our total addressable market. Significant Growth Opportunity $187B4 TAM opportunity to convert high-intent customers on our apps. and sites as we expand our depth and breadth, with more products. and services in more markets Our Strategy is Working Our growth pillars have us on track for 6% customer transaction share5 by the end of 2025 while we grow our revenue Strong Financial Foundation and Philosophy Flexible balance sheet and positive operating cash flow give us the ability to invest in innovation to drive sustainable revenue growth Controlling fixed costs expected to deliver target of 45% Adjusted EBITDA margins and strong GAAP profitability over time Seasoned Management Team Experienced team with a long history of focus on shareholder value creation 5. See appendix slides for important information about these operating metrics. See Legal Disclosures (slide 2) for additional information about our forward-looking statements. 6. Zillow has not provided a quantitative reconciliation of forecasted Adjusted EBITDA margin to the most directly comparable GAAP measure within this presentation because the company is unable, without making unreasonable efforts, to calculate certain reconciling items with confidence. For more information regarding the non-GAAP financial measures discussed in this presentation, see the appendix slides. 3 ZILLOW GROUP

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