Company: HOUS
Filing Date: 2025-12-29
Form Type: 425
Source: 0001193125-25-335437
Chunk: 6

Company: Anywhere Real Estate Inc.
Filing Date: 2025-12-29
Form: 425
Chunk 6
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where common stock to
June 30, 2025, using an illustrative discount rate of 16.9%, reflecting an estimate of Anywhere’s cost of equity. Goldman Sachs derived such discount rate by application of the CAPM, which requires certain company-specific inputs,
including a beta for Anywhere, as well as certain financial metrics for the United States financial markets generally. This analysis resulted in a range of implied present values of $5.23 to $18.18 per share of Anywhere common stock.

The second paragraph on Page 73 under “Illustrative Present Value of Future Share Price Analysis: Compass Pro Forma for the Merger” is hereby amended and supplemented as follows:

Goldman Sachs then subtracted the net debt and non-controlling interest of approximately $2,369million, $1,928millionand $1,180million, and post-tax transaction costs of Compass pro forma for the merger of approximately $107million, $107million and $107million for each of the calendar years 2025 through 2027, respectively, each as provided by
and approved for Goldman Sachs’ use by the management of Anywhere, from the respective implied EVs in order to derive a range of illustrative equity values as of December 31 for Compass pro forma for the merger for each of the calendar
years 2025 through 2027. Goldman Sachs then divided these implied equity values by the projected year-end number of fully diluted outstanding shares of Compass Class A common stock pro forma for the
merger in each of calendar years 2025 through 2027of approximately 803million to approximately 804million, approximately 803million to approximately 804million, and approximately 803million to approximately 804million, respectively, calculated using information provided by
and approved for Goldman Sachs’ use by the management of Anywhere, to derive a range of implied future values per share of Compass Class A common stock pro forma for the merger.

The fourth paragraph on Page 83 under “Interests of Anywhere’s Directors and Executive Officers in the Merger—Treatment of Anywhere Equity Awards—Anywhere RSU Awards, Anywhere DSU Awards and Anywhere PSU Awards” is hereby amended and supplemented as follows:

For an
estimate of the amounts that would be realized by each of Anywhere’s named executive officers on the Assumed Closing Date in respect of their Anywhere RSU Awards, Anywhere DSU Awards and Anywhere PSU Awards that are outstanding on such date,
see the section entitled “