Company: HOUS
Filing Date: 2025-09-22
Form Type: 425
Source: 0001193125-25-210060
Chunk: 100

Company: Anywhere Real Estate Inc.
Filing Date: 2025-09-22
Form: 425
Chunk 100
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 thereof); , , that such a Company Change of
Recommendation, as applicable, may not be made unless and until:

(A) the Company Board determines in good faith after
consultation with its financial advisors and outside legal counsel that such Company Competing Proposal is a Company Superior Proposal;

(B) the Company Board determines in good faith, after consultation with its outside legal counsel, that failure to effect a
Company Change of Recommendation in response to such Company Superior Proposal would be inconsistent with the fiduciary duties owed by the Company Board to the stockholders of the Company under applicable Law;

(C) the Company and its Subsidiaries have complied in all respects with their obligations pursuant to this
with respect to such Company Competing Proposal;

(D) the Company provides Parent
written notice of such proposed action and the basis thereof five (5) Business Days in advance, which notice shall set forth in writing that the Company Board intends to consider whether to take such action and include a copy of the available
proposed Company Competing Proposal and any applicable transaction and financing documents;

(E) after giving such notice
and prior to effecting such Company Change of Recommendation, the Company negotiates (and causes its officers, employees, financial advisor and outside legal counsel to negotiate) in good faith with Parent (to the extent Parent wishes to negotiate)
to make such adjustments or revisions to the terms of this Agreement as would permit the Company Board not to effect a Company Change of Recommendation; and

-65-

(F) at the end of the five (5) Business Day period, prior to taking
action to effect a Company Change of Recommendation, the Company Board takes into account any adjustments or revisions to the terms of this Agreement proposed by Parent in writing and any other information offered by Parent in response to the
notice, and determines in good faith after consultation with its financial advisors and outside legal counsel, that the Company Competing Proposal remains a Company Superior Proposal and that the failure to effect a Company Change of Recommendation
in response to such Company Superior Proposal would be inconsistent with the fiduciary duties owed by the Company Board to the stockholders of the Company under applicable Law; , that in the event of any material amendment or material
modification to any Company Superior Proposal (it being understood that any amendment or modification to the economic terms of any such Company Superior Proposal shall be deemed material), the Company shall be required to deliver a new written
notice to Parent and to comply with the requirements of this with respect to such new written notice, except that the advance written