Company: HOUS
Filing Date: 2025-12-02
Form Type: DEFM14A
Source: 0001628280-25-054793
Chunk: 68

Company: Anywhere Real Estate Inc.
Filing Date: 2025-12-02
Form: DEFM14A
Chunk 68
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 without limitation:

• the diversion of management’s attention from ongoing business concerns and performance shortfalls at one or both of the companies as a result of the devotion of management’s attention to the merger and related integration work;

• the disruption of, or loss of momentum in, each company’s ongoing businesses or inconsistencies in standards, controls, procedures and policies;

• managing a larger and more complex combined business;

• maintaining employee morale, retaining key management and other employees and the possibility that the integration process and potential organizational changes may adversely impact the ability to maintain employee relationships;

• retaining existing business and operational relationships, including but not limited to, agents, brokers, franchisees, affiliates, customers, real estate partners, employees and other counterparties, and attracting new business and operational relationships;

• the integration process not proceeding as expected, including due to a possibility of faulty assumptions or expectations regarding the integration process or Anywhere’s operations;

• consolidating corporate, administrative and compliance infrastructures and eliminating duplicative operations;

• coordinating geographically separate organizations, including in international markets with differing business, legal and regulatory climates;

• challenges and risks associated with onboarding Anywhere agents and franchisees onto Compass’ platform on a timely basis or at all;

• unanticipated issues in integrating information technology, communications and other complex systems; and

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• unforeseen expenses, costs, liabilities or delays associated with the merger or the integration.

Many of these factors will be outside of Compass’ and Anywhere’s control, and any one of them could result in delays, increased costs, decreases in the amount of expected revenues or cost synergies and diversion of management’s time and energy, which could materially affect Compass’ business, financial condition, results of operations and the trading price of Compass Class A common stock.

In addition, due to legal restrictions, Compass and Anywhere are currently permitted to conduct only limited planning for the integration of the two companies following the merger and have not yet determined the exact nature of how the businesses and operations of the two companies will be combined after the merger. The actual integration may result in additional and unforeseen expenses, and the anticipated benefits of the integration plan may not be realized on a timely basis, if at all.

If the merger does not qualify as a “reorganization” under Section 368(a) of the Code, holders of Anywhere common stock may be required to pay additional U.S. federal income taxes.

Anywhere and Compass intend for the merger to qualify as a “reorganization” within the meaning of