Zillow Investor Presentation

Our Strategy is Working: Early Test Markets Nearly 2x Share in 2 Years Market share gains in our early test markets demonstrate opportunity as we roll out more Enhanced Markets in 2024 Significant Growth in Customer Transaction Share in Mature Enhanced Markets... ...and We Are Driving Revenue Share Gains in Additional Enhanced Markets as We Expand² Trailing Twelve-Month Transaction Revenue / TTV (Atlanta, Denver, Phoenix, Raleigh) +80% vs. Q1'22 Atlanta Customer Transaction Share¹ 6.0 Bps 5.5 Bps +90% 5.0 Bps vs. Q1'22 4.5 Bps 4.0 Bps 3.5 Bps Phoenix Customer Transaction Share 3.0 Bps 2.5 Bps 2.0 Bps Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 1. See appendix slides for important information about these operating metrics. +50% increase in 2023 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 2. This graph illustrates, for each period presented, the twelve months trailing estimated Premier Agent and Zillow Home Loans revenue in the Atlanta, Denver, Phoenix and Raleigh markets divided by the aggregate total transaction value for those markets, as measured by Zillow Group's internal data, during the same period. 14 Oct-23 Nov-23 Dec-23 ZILLOW GROUP

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