Opendoor SPAC Presentation Deck

Non-GAAP Reference Key Metric Total Revenue Less: Less: Less: Adjusted Gross Profit Less: Less: Total Contribution Less: Less: Less: Less: Adjusted EBITDA Key Component Net Purchase Price Net Repairs Ancillary Product COGS Holding Costs Selling Costs Marketing Spend Operations Spend Fixed Opex Timing adjustments / other GAAP P&L Reference Cost of Revenue Cost of Revenue Cost of Revenue Sales, marketing, and operations Sales, marketing, and operations Sales, marketing, and operations Sales, marketing, and operations General and administrative Technology and development Sales, marketing, and operations Description Transaction Revenue (Net Resale Price x Homes Sold) + Ancillary Product Revenue Headline Purchase Price net of Service Charge Reno / repair spend net of any repair charges to seller COGS related to ancillary products such as Title & Escrow Gross Profit related to homes sold in a specific period Property taxes, utilities, insurance, cleaning, and HOA dues Buyer broker commission, other transaction costs Contribution Margin related to homes sold in a specific period Online, offline, and PR spend Primarily related to customer sales, support, and home operations G&A, R&D, and other overhead costs Primarily related to costs for homes in inventory vs. resale cohort Adjusted EBITDA excludes non-cash/non-recurring costs 55

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