Company: HOUS
Filing Date: 2025-12-02
Form Type: DEFM14A
Source: 0001628280-25-054793
Chunk: 97

Company: Anywhere Real Estate Inc.
Filing Date: 2025-12-02
Form: DEFM14A
Chunk 97
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 agreement and the transactions contemplated thereby, including the merger, are fair to, and in the best interests of, Anywhere and the holders of Anywhere common stock, (ii) approved and declared advisable the merger agreement and the transactions contemplated thereby, including the merger, (iii) authorized the officers of Anywhere to execute the merger agreement and related documentation, and (iv) resolved to recommend that the holders of Anywhere common stock approve and adopt the merger agreement and the transactions contemplated thereby, including the merger, and directed that such matter be submitted for consideration to holders of Anywhere common stock.

Also, in the afternoon of September 21, 2025, the Compass Board met, with members of Compass’ senior management team and representatives of Morgan Stanley and Kirkland in attendance, to consider and make a decision on whether to approve the proposed transaction. During the meeting, Messrs. Reffkin and Serwin provided the Compass Board with an update on the status of the negotiations of the proposed transaction. At the request of the Compass Board, representatives of Morgan Stanley then reviewed its financial analyses of the financial terms of the proposed transaction. Following this review, at the request of the Compass Board, representatives of Morgan Stanley rendered its oral opinion to the Compass Board, which was subsequently confirmed by delivery of its written opinion, dated as of September 21, 2025, which is attached hereto as

#### Annex B
, that, as of September 21, 2025, and based upon and subject to the factors and assumptions in its written opinion, the exchange ratio of 1.436 shares of Compass Class A common stock per share of Anywhere common stock pursuant to the merger agreement was fair, from a financial point of view, to Compass. Representatives of Morgan Stanley also provided the Compass Board with a customary relationship disclosure letter, which included information related to certain of Morgan Stanley’s current and prior relationships with Compass, Anywhere and certain of their respective affiliates. Representatives of Kirkland also reviewed again with the Compass Board the proposed terms of the merger agreement, the support agreements and the other transaction documentation to be entered into in connection with the merger agreement, reviewed the directors’ fiduciary duties in connection with the proposed transaction, as they had previously done, and described the resolutions the Compass Board would be asked to adopt if the Anywhere Board were to approve the proposed transaction. Following careful review and discussion, including as to the matters referred to below under “—Compass Board’s Recommendation and Reasons for the Merger,” the Compass Board,