Company: HOUS
Filing Date: 2025-12-02
Form Type: DEFM14A
Source: 0001628280-25-054793
Chunk: 145

Company: Anywhere Real Estate Inc.
Filing Date: 2025-12-02
Form: DEFM14A
Chunk 145
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 expense, net (excluding relocation services interest for securitization assets and securitization obligations), income taxes, and certain non-core items. Non-core items include non-cash stock-based compensation, restructuring charges, impairments, former parent legacy items, legal contingencies unrelated to normal operations which currently includes industry-wide antitrust lawsuits and class action lawsuits, gains or losses on the early extinguishment of debt, and gains or losses on discontinued operations or the sale of businesses, investments or other assets.

(2) Unlevered Free Cash Flow is a non-GAAP financial measure and is defined as Operating EBITDA less tax expense, stock based compensation, capital expenditures, restructuring expenses and other unusual items, and adjusted for changes in net working capital.

#### Anywhere Combined Company Projections
The following tables summarize the Anywhere Combined Company Projections, which included certain unaudited synergies which were expected to result from the merger and be realized by the combined company on a run-rate basis within three years following the closing of the merger. The synergies are based on numerous estimates and assumptions and are generally based on information and market factors known to Anywhere management, including due diligence that Anywhere conducted on Anywhere’s and Compass’ historical and current financial positions and business endeavors. The synergies will be affected by the combined company’s ability to achieve strategic goals, objectives and targets over the applicable periods. As a result, there can be no assurance that the underlying assumptions are correct or that the synergies will be realized, and actual synergies likely will differ, and may differ materially, from those reflected in the projected synergies.

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The following table summarizes the Compass Projections (the portions made available to Anywhere) on a standalone basis ($ in millions) for the second half of fiscal year 2025 through fiscal year 2027:

|                             |     | 2H 2025E |       |     | 2026E |       |     | 2027E |       |
|:----------------------------|:----|:---------|------:|:----|:------|------:|:----|:------|------:|
| Revenue                     |     | $        | 3,350 |     | $     | 7,678 |     | $     | 8,355 |
| Adjusted EBITDA(1)          |     | $        |    95 |     | $     |   370 |     | $     |