Company: HOUS
Filing Date: 2025-12-02
Form Type: DEFM14A
Source: 0001628280-25-054793
Chunk: 120

Company: Anywhere Real Estate Inc.
Filing Date: 2025-12-02
Form: DEFM14A
Chunk 120
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     | $            | 11.00 |     |                   |     | August 27, 2025 |
| Broker B |     | $            |  8.00 |     |                   |     | July 31, 2025   |
| Broker C |     | $            |  8.00 |     |                   |     | July 31, 2025   |
| Broker D |     | $            |  7.00 |     |                   |     | July 30, 2025   |
| Broker E |     | $            |  8.00 |     |                   |     | July 30, 2025   |
| Broker F |     | $            | 11.00 |     |                   |     | June 1, 2025    |

Research analyst price targets for Compass were presented for reference purposes only and were not relied upon for valuation purposes

#### General
Morgan Stanley performed a variety of financial and comparative analyses for purposes of rendering its opinion. The preparation of a financial opinion is a complex process and is not necessarily susceptible to a partial analysis or summary description. In arriving at its opinion, Morgan Stanley considered the results of all of its analyses as a whole and did not attribute any particular weight to any analysis or factor it considered. Morgan Stanley believes that selecting any portion of these analyses, without considering all analyses as a whole, would create an incomplete view of the process underlying its analyses and opinion. In addition, Morgan Stanley may have given various analyses and factors more or less weight than other analyses and factors, and may have deemed various assumptions more or less probable than other assumptions. As a result, the ranges of valuations resulting from any particular analysis described above should not be taken to be Morgan Stanley’s view of the actual value of Anywhere or Compass.

In performing its analyses, Morgan Stanley made numerous assumptions with respect to industry performance, general business, regulatory, economic, market and financial conditions and other matters. These include, among other things, the impact of competition on the businesses of Anywhere and Compass and the industry generally, industry growth, and the absence of any adverse material change in the financial condition and prospects of Anywhere, Compass, or the industry, or in the financial markets in general. Many of these assumptions are beyond the control of Anywhere and Compass. Any estimates contained in Morgan Stanley’s analyses are not necessarily indicative of future results or actual values, which may be significantly more or less favorable than those suggested by