Company: HOUS
Filing Date: 2025-12-29
Form Type: 425
Source: 0001193125-25-335437
Chunk: 5

Company: Anywhere Real Estate Inc.
Filing Date: 2025-12-29
Form: 425
Chunk 5
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-controllinginterest of approximately $2,496 million, and post-taxtransaction costs of Compass pro forma for the merger of approximately $107 million, each as provided by and approved for Goldman Sachs’ use by the management of Anywhere, to derive a range of illustrative equity values for Compass pro forma for the merger. Goldman Sachs then divided the range of illustrative equity values it derived by

the number of fully diluted outstanding shares of Compass pro forma for the merger of approximately 803million to approximately 804million, as provided by and approved for Goldman Sachs’ use by the management of Anywhere, using the treasury stock method, to derive a range of illustrative present values per share of Compass A
common stock pro forma for the merger. Goldman Sachs then multiplied the range of implied present value per share of Compass A common stock pro forma for the merger by the exchange ratio of 1.436 shares of Compass A common stock to be paid for each
share of Anywhere common stock. This analysis resulted in a range of implied present values of $16.96 to $21.77 of the consideration to be paid for each share of Anywhere common stock.

The second paragraph on Page 72 under “Illustrative Present Value of Future Share Price Analysis: Anywhere Stand-Alone” is hereby amended and supplemented as follows:

Goldman Sachs then subtracted the amount of Anywhere’s net debt of approximately $2,457million, $2,344million and $2,131million and non-controlling interest of approximately $4million, $4million and $4million 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 Anywhere 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 Anywhere common stock each of calendar years 2025 through 2027
of approximately 121million to approximately 122million, approximately 121million to approximately 122million, and approximately 121million to approximately 122million, 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 Anywhere common stock. Goldman Sachs then discounted these implied future equity values per share of Any