Company: HOUS
Filing Date: 2025-12-02
Form Type: DEFM14A
Source: 0001628280-25-054793
Chunk: 132

Company: Anywhere Real Estate Inc.
Filing Date: 2025-12-02
Form: DEFM14A
Chunk 132
---
 Goldman Sachs applied a reference range of (i) illustrative equity value premiums of 12.0% to 23.7%, based on all-stock transactions, to the undisturbed closing price per share of Anywhere common stock of $7.07 as of September 19, 2025 and calculated a range of implied equity values per share of Anywhere common stock of $7.92 to $8.75, (ii) illustrative equity value premiums of 14.8% to 52.0%, based on all transactions, to the undisturbed closing price per share of Anywhere common stock of $7.07 as of September 19, 2025 and calculated a range of implied equity values per share of Anywhere common stock of $8.12 to $10.75, and (iii) illustrative EV premiums of 11.0% to 38.0%, based on all transactions, to Anywhere’s EV based on the undisturbed closing price per share of Anywhere common stock of $7.07 as of September 19, 2025 and calculated a range of implied equity values per share of Anywhere common stock of $10.16 to $17.74.

Selected Public Company Multiples

Goldman Sachs reviewed and compared certain financial information for Anywhere and Compass to corresponding financial information, ratios and public market multiples for the following publicly traded corporations in the Real Estate industry, which we refer to in this section of this joint proxy statement/prospectus as the “Selected Companies”):

• Zillow Group, Inc.;

<div align='center'>73</div>

• Opendoor Technologies Inc.;

• eXp World Holdings, Inc.;

• The Real Brokerage Inc.;

• RE/MAX Holdings, Inc.; and

• Douglas Elliman Inc.

Although none of the Selected Companies is directly comparable to Anywhere or Compass, the Selected Companies included were chosen because they are publicly traded companies in the Real Estate industry with operations that, for purposes of analysis, may be considered similar to certain operations of Anywhere and Compass.

For each of Anywhere, Compass, and the selected companies, Goldman Sachs calculated EV/ EBITDA multiples using estimates of the EBITDA for calendar year 2026 based on financial and trading data as of September 19, 2025; information Goldman Sachs obtained from public filings, FactSet, and the Forecasts.

The results of these calculations are summarized as follows:

| Company                    |     | E