Slides
Page 1
Earnings Call Q4 and FY 2024 1
Page 2
Ryan Schneider Chief Executive Officer and President Charlotte Simonelli Executive Vice President and Chief Financial Officer Alicia Swift Senior Vice President, Investor Relations and Treasury Management Presenters 2
Page 3
Forward-Looking Statements This presentation contains forward-looking statements. The Company desires to take advantage of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995 and is including this statement for the express purpose of availing itself of the protections of the safe harbor with respect to all forward-looking statements. Therefore, the Company wishes to caution each participant to consider carefully the specific factors discussed with each forward-looking statement in this presentation and other factors contained in the Company’s filings with the Securities and Exchange Commission under the captions “Forward-Looking Statements”, “Risk Factors”, "Legal Proceedings" and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” as such factors in some cases have affected, and in the future (together with other factors) could affect, the ability of the Company to implement its business strategy and may cause actual results to differ materially from those contemplated by the statements expressed herein. Forward-looking statements, estimates, and projections are inherently subject to significant economic, competitive, antitrust and other litigation, regulatory, and other uncertainties and contingencies, many of which are beyond the control of management, including among others, industry and macroeconomic developments as well as uncertainty relating to the California wildfires. The information contained in this presentation is as of February 13, 2025. The Company assumes no obligation to update the information or the forward-looking statements contained herein, whether as a result of new information or otherwise. RECIPIENTS ARE STRONGLY ADVISED TO READ THE COMPANY’S FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION BECAUSE THEY CONTAIN IMPORTANT INFORMATION. Operating EBITDA Change Effective December 31, 2024, the Company updated its definition of Operating EBITDA to include adjustments for non-cash stock-based compensation and certain legal matters that conform with similar adjustments and measures disclosed by industry competitors. Reconciliations of Operating EBITDA to the most directly comparable GAAP measure are provided for all periods presented. See Table 9 of the February 13th Press Release for further discussion. Non-GAAP Financial Measures Certain financial measures, as used in this presentation, are supplemental measures of the Company’s performance that are not Generally Accepted Accounting Principles (“GAAP”) measures. Refer to slides 28-30 of this presentation and Tables 1a, 5a, 5b, 6a, 6b, 7, 8a, 8b and 9 of the February 13th Press Release announcing fourth quarter and full year 2024 financial results for the definitions of these non-GAAP financial measures, a reconciliation of these measures to their most comparable GAAP measures, and the Company’s explanation of why it believes these non-GAAP measures are useful to investors. Important Disclosures 3
Page 4
Our Business 4
Page 5
As a leader of Integrated Residential Real Estate Services in the U.S., we combine the world’s most extensive agent network, industry-leading brands, integrated services, and innovative product and technology capabilities to lead the world on a better real estate journey. Full-service residential real estate brokerage with brands in many of the largest metropolitan areas in the U.S. Global franchisor of some of the most recognized brands in the real estate industry. Leading full-service title and settlement services company in the U.S. Segment also includes Anywhere Leads and Cartus Relocation Segment includes our minority-held mortgage joint venture and Title Insurance Underwriter joint venture Minority held joint venture The Anywhere Network 5
Page 6
Recognition • Named in 2024 to Fortune's Most Innovative Companies, Forbes' World's Best Employers, and World's Most Ethical Companies for the 13th consecutive year, among others • More leaders in 2025 Swanepoel Power 200 than any other real estate company • Anywhere affiliated agents made up 20% of 2024 Top 250 Latino Agents list • Ten women across Anywhere were included on the 2024 HousingWire Women of Influence list Governance and Integrity • Diverse and independent Board of Directors • Nominating & Corporate Governance Committee Charter includes ESG oversight responsibilities • Robust Board-led investor outreach program since 2018 Community Commitment • Anywhere Gives' partnership with Covenant House International • Anywhere Disaster Relief Fund offered through Anywhere Gives • Ascend: Executive Leadership Experience • Agents of Change Program • Fair Housing Pledge • Inclusive Industry Organization Partnerships Corporate Social Responsibility • 2023 CSR Report Recognized as an Industry Leader in Culture and Talent 6
Page 7
Investment Highlights 7
Page 8
Anywhere has the Competitive Edge The opportunity to drive change at scale that comes with closing ~1 million homesale sides annually A nationwide network of trusted advisors Industry’s leading franchise business with six nationally recognized brokerage brands End-to-end national assets in brokerage, mortgage, title, and insurance High impact tech and data scale, enhancing productivity for agents and franchisees, and leveraging AI to drive better experiences faster at lower costs Strong financial octane from Operating EBITDA and Free Cash Flow generation, enabling us to invest in growth 8
Page 9
Fast Facts1 • Anywhere Real Estate is a leading real estate franchisor in the U.S., with six nationally recognized brokerage brands • Worldwide footprint with over 2,100 total franchisees • Typical new U.S. contract is 10 years in length • Average U.S. franchisee tenure >20 years • 30k closings delivered from our global referral networks Unmatched Brand Portfolio High Margin Business with Steady Recurring Revenue and Operating EBITDA2 Franchise Operating EBITDA Margins (%) 57% 61% 59% 54% 54% 2020 2021 2022 2023 2024 Franchise Operating EBITDA ($M) 600 756 673 527 521 2020 2021 2022 2023 2024 1. Fast facts as of December 31, 2024. 2. Franchise Group is inclusive of the Anywhere Leads Group and Cartus Relocation Services and includes Owned Brokerage intercompany royalties and marketing fees of $316M from 2020, $407M from 2021, $373M from 2022, $315M from 2023 and $319M from 2024. Franchise Revenue ($M) 1,059 1,249 1,145 983 961 2020 2021 2022 2023 2024 Attractive Franchise Power 9
Page 10
Unparalleled Franchise Scale 10 11,200 U.S. ANNUAL SIDES58,231 130,200 219,329 96,300 468,004 4,900 16,494 43,200 70,092 26,100 117,860 WORLDWIDE SALES AGENTS U.S. ANNUAL SIDES WORLDWIDE SALES AGENTS U.S. ANNUAL SIDES WORLDWIDE SALES AGENTS U.S. ANNUAL SIDES WORLDWIDE SALES AGENTS U.S. ANNUAL SIDES WORLDWIDE SALES AGENTS U.S. ANNUAL SIDES WORLDWIDE SALES AGENTS Note: Information as of December 31, 2024. Both side of transaction
Page 11
1. Fast Facts as of December 31, 2024. 2. Source: Marketing Listing Services (MLSs). In MLSs where Anywhere owned and franchised brokerages operate, excluding New York City and the Hamptons (where there is no MLS). Volume means closed homesale transaction volume. Market Leader in Luxury Real Estate 11 Market Share of $1M+ Homes, 2024 US Volume17% #1 #2 #3 #4 #5 Market Share of $1M+, $2M+, $5M+, & $10M+ Homes, 2024 US Volume 17% 20% 22% 21% $1M+ $2M+ $5M+ $10M+ We Sell More $1M+ Homes Than Anyone2 We Do Even Better At Higher Price Points2 Fast Facts1 • Expanded our luxury leadership in 2024 with new global locations and increased U.S. market share • Coldwell Banker Global Luxury, Corcoran, and Sotheby's International Realty brands increased volume by 10% in 2024, outperforming the broader market • Unique Adjacent Offerings - Co-own Concierge Auctions, the world's largest luxury real estate auction marketplace • Leader in New Development - Corcoran Sunshine ranked #1 in Manhattan new development Iconic Luxury Brands Industry Rank: #1 #1 #1#1
Page 12
1. Anywhere is the majority and controlling partner in Upward Title, the non-controlling portion is deducted from the Company's net income (loss) on the “Net (income) loss attributable to noncontrolling interests” line on the income statement. 2. JV earnings are reported as equity in earnings and losses on the income statement. 3. On March 29, 2022, the Company sold its title insurance underwriter,Title Resources Guaranty Company, but maintained a minority ownership. Title Agency Operations • Full-Service title, escrow and settlement services across more than 40 brand names • Licensed title agency in 43 states and Washington, D.C. • Supports both Anywhere and non-Anywhere brokerage transactions • Involved in ~114,000 purchase and refinance transactions in 2024 Upward Title (launched 2023)1 • New multi-franchise title joint venture offering, exclusively for affiliates • Upward JVs are full-service title and settlement companies, offering local expertise combined with the innovative product and technology capabilities of Anywhere, including insightful virtual quote tools and fully digital closing options • Currently live in California, Colorado, Florida, Pennsylvania, Texas, and Utah with plans of further expansion Underwriter JV (formed 2022)2 3 • 22% ownership of Title Resources Group, one of the nation’s leading title insurance underwriters • In addition to Anywhere, TRG’s other major shareholders include Centerbridge partners, L.P., HomeServices of America, and Opendoor Technologies, Inc. • Lennar Corp joined the ownership group in Q4 2024 Mortgage JV (formed 2017)2 • 49.9% ownership of Guaranteed Rate Affinity, a mortgage origination joint venture with Guaranteed Rate, one of the largest retail mortgage lenders in the U.S. • Many loan officers co-located within Anywhere brokerage offices supporting both Anywhere and non-Anywhere transaction mortgages Leading Provider of Title & Settlement Services 12
Page 13
High Impact Technology And Products Personalized agent and franchisee technology to enhance productivity API Connectivity developers.anywhere.re enables freedom, flexibility, and choice for third party developers, brokers, and agents and allows us to connect to 80+ external products Business capabilities enabled by hundreds of APIs. In 2024: • 6B+ API calls • 550+ APIs available to third parties • Nearly 300 partners integrated Leads Engine Empowers brokers to manage their digital lead flow, from a wide variety of sources, in one place RealVitalize Provides liquidity, contractors, and project management to optimize a home’s value before sale Industry Leading Data Scale ~1.0PB of real estate data on a modern, cloud based infrastructure Integration of data and AI models for core business processes like agent recruiting Affiliate Insights Uses Anywhere's data scale to provide actionable insights for individual franchisees, helping them run their business better Listing Concierge Simplifies and automates creation and placement of custom marketing to sell houses faster and for more money Leadership in Technology and Data 13 Generative AI Leadership Aggressive generative AI agenda to drive better experiences faster and at lower costs Multiple generative AI deployments and Proofs of Concept across many parts of our company, including marketing, brokerage and title operations, lead generation, among others
Page 14
How We Get There Making the Real Estate Transaction Simpler for Agents and Consumers The Line-of-sight Innovation is Attractive for the Ecosystem IMPROVE BUYING AND SELLING EXPERIENCE ACROSS THE "FULL BUY BOX" OF REAL ESTATE • Reduce friction for EVERY consumer transaction • Create an easier and integrated experience for all parts of a consumer's next move • Deliver a reimagined transaction that is "push button simple" CONSUMERS WIN • Higher sales prices for sellers, more competitive offer for buyers • Fewer contingencies and less risk CAPTURE THE ECONOMICS • Win substantially more brokerage transactions • Expand unit economics - greater title/mortgage capture • Attract more agents AGENTS WIN • Better sales prices • Better productivity WE WIN • More productive agents • Higher agent retention • Increased title and mortgage capture Anywhere is Focused on Agent and Consumer Pain Points 14
Page 15
Fourth Quarter & Full Year Results 15
Page 16
2024 By the Numbers 1. See Slide 28 for a reconciliation of Net loss attributable to the Company to Operating EBITDA. See slide 30 for a reconciliation of Net loss attributable to the Company to Free Cash Flow. Refer to Table 9 of the Press Release dated February 13, 2025 for the definitions of these non-GAAP financial measures and the Company’s explanation of why it believes these non-GAAP measures are useful to investors. $5.7B Revenue Generated (+$56M year-over-year) 16 $50M Free Cash Flow1 ($70M b/f one time items) $290M Operating EBITDA1 (+$35M year-over-year) ~$125M Realized Cost Savings (~25% above initial target) Full Year 2024: $1.4B Revenue Generated (+$112M year-over-year) +13% Y/Y Combined Closed Transaction Volume Growth $52M Operating EBITDA1 (+$24M year-over-year) (7bps) Y/Y Agent Commission Splits (11th straight quarter with stable commission splits at ~80%) Q4 2024:
Page 17
Q4 2024 vs. Q4 2023 FY 2024 VS. FY 2023 Anywhere Combined Closed Homesale Sides 3% (3)% Average Homesale Price 9% 7% Combined Total Homesale Transaction Volume (sides x price) 13% 4% Anywhere Brands - Franchise Group 1 Closed Homesale Sides 3% (3)% Average Homesale Price 10% 8% Total Homesale Transaction Volume (sides x price) 13% 5% Anywhere Advisors - Owned Brokerage Group Closed Homesale Sides 3% (4)% Average Homesale Price 9% 7% Total Homesale Transaction Volume (sides x price) 13% 4% 1. Includes all franchisees except for Owned Brokerage Group. Transaction Volume 17
Page 18
Q4 2024 vs. Q4 2023 FY 2024 vs. FY 2023 Amount % Change Amount % Change Anywhere Brands - Franchise Group 1 Closed Homesale Sides 171,609 3% 700,589 (3)% Average Homesale Price $504,637 10% $497,494 8% Average Broker Commission Rate 2.39% (6) bps 2.41% (4) bps Net Royalty per Side $446 4% $447 4% Anywhere Advisors - Owned Brokerage Group Closed Homesale Sides 59,388 3% 249,421 (4)% Average Homesale Price $757,275 9% $748,596 7% Average Broker Commission Rate 2.35% (7) bps 2.37% (5) bps Gross Commission Income per Side $18,577 6% $18,557 5% Anywhere Integrated Services - Title Group Purchase Title and Closing Units 24,840 10% 103,612 1% Refinance Title and Closing Units 3,145 54% 10,225 16% Average Fee per Closing Unit $3,428 7% $3,341 5% 1. Includes all franchisees except for Owned Brokerage Group. Key Revenue Drivers 18
Page 19
Net Revenue ($ in millions) Q4 2024 Q4 2023 $ Change FY 2024 FY 2023 $ Change Franchise Group 1 $ 229 $ 221 $ 8 $ 961 $ 983 $ (22) Owned Brokerage Group 1,118 1,024 94 4,688 4,628 60 Title Group 92 75 17 362 340 22 Corporate & Other 2 (77) (70) (7) (319) (315) (4) Total Revenue $ 1,362 $ 1,250 $ 112 $ 5,692 $ 5,636 $ 56 1. Franchise Group is inclusive of Anywhere Leads Group and Cartus Relocation Services. 2. Revenues include the elimination of transactions between segments, which consists of intercompany royalties and marketing fees paid by Owned Brokerage Group of $77 million and $70 million during the three months ended December 31, 2024 and 2023, respectively, as well as $319 million and $315 million during the years ended December 31, 2024 and 2023, respectively. Revenue Details 19
Page 20
Operating EBITDA ($ in millions) Q4 2024 Q4 2023 $ Change FY 2024 FY 2023 $ Change Franchise Group 1 $ 121 $ 110 $ 11 $ 521 $ 527 $ (6) Owned Brokerage Group (27) (43) 16 (93) (135) 42 Title Group (9) (12) 3 (13) (16) 3 Corporate & Other (33) (27) (6) (125) (121) (4) Operating EBITDA $ 52 $ 28 $ 24 $ 290 $ 255 $ 35 1. Franchise Group is inclusive of Anywhere Leads Group and Cartus Relocation Services. Note: See Slide 29 for a reconciliation of Operating EBITDA to Net loss attributable to the Company. Refer to Table 9 of the Press Release dated February 13, 2025 for the definitions of certain non-GAAP financial measures and the Company’s explanation of why it believes these non-GAAP measures are useful to investors. Operating EBITDA Details 20
Page 21
Note: The segment numbers noted above do not reflect the impact of intercompany royalties and marketing fees paid by Owned Brokerage Group to Franchise Group of $77 million and $70 million during the three months ended December 31, 2024 and 2023, respectively, as well as $319 million and $315 million during the years ended December 31, 2024 and 2023, respectively. Operating EBITDA ($ in millions) Q4 2024 Q4 2023 $ Change FY 2024 FY 2023 $ Change Franchise Group $ 44 $ 40 $ 4 $ 202 $ 212 $ (10) Owned Brokerage Group 50 27 23 226 180 46 Franchise & Owned Brokerage Combined $ 94 $ 67 $ 27 $ 428 $ 392 $ 36 Operating EBITDA without Intercompany Royalty 21
Page 22
Advisors: Quarterly Agent Commission Split Rate 22 79.2% 79.8% 79.6% 80.3% 80.1% 80.1% 80.2% 80.3% 80.0% 80.5% 80.4% 80.3% Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 76.0% 78.0% 80.0% 82.0% 11 consecutive quarters with stable commissions around 80%, underscoring our strong agent value proposition and effective management Quarterly Agent Commission Split (Commission Expense divided by Gross Commission Income) (%)
Page 23
($ in millions) For the Year Ended December 31, 2024 Operating Marketing General and Administrative 1 Total Franchise Group 2 $ 248 $ 89 $ 105 $ 442 Owned Brokerage Group 882 102 85 1,069 Title Group 299 18 60 377 Corporate & Other 3 (304) (14) 142 (176) Total Company $ 1,125 $ 195 $ 392 $ 1,712 1. General and administrative expenses differ from the amounts reported for the Company's reportable segments under ASC Topic 280 as those amounts include adjustments for non-cash stock-based compensation and legal contingencies unrelated to normal operations which currently includes industry-wide antitrust lawsuits and class action lawsuits consistent with the definition of Operating EBITDA, the Company's reported measure of segment profit or loss. Refer to Table 9 of the Press Release dated February 13, 2025 for further information related to Operating EBITDA. 2. Franchise Group is inclusive of Anywhere Leads Group and Cartus Relocation Services. 3. Corporate and Other includes the Company's intersegment revenues which are eliminated and various unallocated corporate expenses. Operating, Marketing, and G&A by Reportable Segment 23
Page 24
80 85 100 150 124 Permanent Temporary 2020 2021 2022 2023 2024 Anywhere Realized Cost Savings by Year ($M)1 2,140 1,712 Anywhere total operating, marketing & G&A expenses ($M) 2019 2024 Anywhere Actual Flow Through of Savings to Expenses ($M)2 ~$80 ~$85 ~$150 ~$220 We realized approximately $660M of total cost savings between 2020 and 2024 Approximately 35% of total cost savings were offset by inflation, investments, and other factors 1. Represents approximate cost savings by year. Cost savings programs exclude any offset from inflation and investments. 2020 cost savings excludes approximately $150M of temporary savings as a result of Covid-19 crisis. 2. Includes Operating, marketing and G&A expense lines. Excludes Agent Commissions, Equity in earnings/losses of unconsolidated entities and other miscellaneous gains/losses. Approximately 35% of cost savings from 2020 to 2024 were offset by inflation, new investments, and other factors. A portion of the expense decline since 2019 was also related to the sale of the underwriter in 2022. 3. 2025 Cost savings program excludes any offset from inflation and investments as we look to make significant progress transforming our business. ($428) Historical Cost Savings Delivery 24 ~$125 Targeting $100 million of realized cost savings in 20253
Page 25
490 — 640 403 558 449 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Transformed Debt Stack 25 2 • Optimizing our balance sheet is a top allocation priority, alongside investing in the business • Reduced overall gross debt by over $930M (or 27%) since 2019 ◦ In 2023, reduced debt by ~$310M through bond exchanges and debt repurchases ◦ In Q3 2024, repurchased $26M of notes at a discount • Addressed ~$600M of near-term maturities since March 2022 using a combination of cash and revolver borrowings ◦ In 2022, repaid $407M 4.875% Senior Notes ◦ In Q3 2024, repaid $196M Term Loan A • Extended maturities and shifted to a higher mix of unsecured debt • Reduced weighted average cost of fixed rate debt (4.95% vs. 6.65% in 20191) 1. Excludes interest rate swaps. 2. Revolving Credit Facility is first lien secured debt but shown separately in the charts above (note: Anywhere’s current revolver capacity is $1.1B in total). Note: Graphs exclude finance lease obligations, amortization payments and securitization obligations. 190 717 1,058 550 407 550 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 231 407 403 900 1,000 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 March 31, 2022 ($M) Total Debt 2,941 December 31, 2024 ($M) Total Debt 2,540 December 31, 2019 ($M) Total Debt 3,472 1,314 1,089
Page 26
Pricing Maturity As of December 31, 2024 Revolving Credit Facility SOFR+10bps+175 1 July 2027 2 $ 490 Senior Secured Second Lien Notes 7.000% April 2030 640 Senior Notes 5.750% January 2029 558 Senior Notes 5.250% April 2030 449 Exchangeable Senior Notes 0.250% June 2026 403 Finance Lease Obligations 15 Corporate Debt (excluding securitizations) 2,555 Less: Cash and cash equivalents 118 Net Corporate Debt (excluding securitizations) $ 2,437 EBITDA as defined by the Senior Secured Credit Agreement $ 338 Net Debt Leverage Ratio 3 7.2 x 1. Based on a Term Secured Overnight Financing Rate ("SOFR") plus a 10 basis point credit spread adjustment plus an additional margin. The additional margin is subject to adjustment based on the then current senior secured leverage ratio. Based on the previous quarter's senior secured leverage ratio, the margin was 1.75%. 2. As of December 31, 2024, the maturity date of the Revolving Credit Facility is July 2027 (subject to earlier springing maturity dates). The Revolving Credit Facility has an aggregate of $1,100 million in capacity with $490 million of outstanding borrowings and $33 million of outstanding undrawn letters of credit as of December 31, 2024. 3. Defined as net corporate debt divided by EBITDA as defined by the senior secured credit facilities. See Table 8b of our February 13, 2025 Press Release for a Net Debt Leverage Ratio calculation. Capitalization Table 26
Page 27
Appendix 27
Page 28
($ in millions) For the three months ended For the years ended 12/31/2024 12/31/2023 12/31/2024 12/31/2023 Net loss attributable to Anywhere $ (64) $ (107) $ (128) $ (97) Income tax expense (benefit) 13 (22) (2) (15) Loss before income taxes (51) (129) (130) (112) Add: Depreciation and amortization 47 47 198 196 Interest expense, net 36 37 153 151 Stock-based compensation 1 5 — 17 12 Restructuring costs, net 2 8 9 32 49 Impairments 3 11 54 20 65 Former parent legacy cost, net 4 1 1 2 18 Legal contingencies 5 (8) 9 2 43 Gain on the early extinguishment of debt 6 — — (7) (169) Loss on the sale of businesses, investments or other assets, net 3 — 3 2 Operating EBITDA $ 52 $ 28 $ 290 $ 255 1. Stock-based compensation is a non-cash expense that is based on grant date fair value, which is influenced by the Company's stock price, and recognized over the requisite service period. 2. Restructuring costs are approximately half personnel-related, including severance costs primarily to streamline finance and other administrative functions, and half facility-related, including costs incurred to reduce our brokerage operating model to align with the industry as well as our Corporate headquarters footprint. 3. Non-cash impairments in 2024 relate to leases and other assets. In 2023, these relate to a $25 million impairment at Franchise Group to reduce goodwill related to Cartus, a $25 million impairment of franchise trademarks and impairments of leases and other assets. 4. Former parent legacy items relate to a legacy tax matter. 5. Legal contingencies do not include cases that are part of our normal operating activities or legal expenses incurred in the ordinary course of business. 6. The gain on the early extinguishment of debt relates to the repurchases of Unsecured Notes that occurred during the third quarter of 2024, as well as the debt exchange transactions and open market repurchases that occurred during the third quarter of 2023. Note: Refer to Table 9 of the Press Release dated February 13, 2025 for the definitions of certain non-GAAP financial measures and the Company’s explanation of why it believes those non-GAAP measures are useful to investors. GAAP Reconciliation 28
Page 29
($ in millions) For the three months ended For the years ended 12/31/2024 12/31/2023 12/31/2024 12/31/2023 Franchise Group $ 121 $ 110 $ 521 $ 527 Owned Brokerage Group (27) (43) (93) (135) Title Group (9) (12) (13) (16) Corporate and Other (33) (27) (125) (121) Operating EBITDA 52 28 290 255 Less: Depreciation and amortization 47 47 198 196 Interest expense, net 36 37 153 151 Income tax expense (benefit) 13 (22) (2) (15) Stock-based compensation 1 5 — 17 12 Restructuring costs, net 2 8 9 32 49 Impairments 3 11 54 20 65 Former parent legacy benefit, net 4 1 1 2 18 Legal contingencies 5 (8) 9 2 43 Gain on the early extinguishment of debt 4 — — (7) (169) Loss on the sale of businesses, investments or other assets, net 3 — 3 2 Net loss attributable to Anywhere $ (64) $ (107) $ (128) $ (97) 1. Stock-based compensation expense is primarily related to Corporate and Other. 2. Restructuring charges incurred for the three months ended December 31, 2024 include $5 million at Owned Brokerage Group and $3 million in Corporate and Other. Restructuring charges incurred for the three months ended December 31, 2023 include $3 million at Franchise Group, $2 million at Owned Brokerage Group, $2 million at Title Group and $2 million in Corporate and Other. Restructuring charges incurred for the year ended December 31, 2024 include $4 million at Franchise Group, $15 million at Owned Brokerage Group, $1 million at Title Group and $12 million in Corporate and Other. Restructuring charges incurred for the year ended December 31, 2023 include $11 million at Franchise Group, $25 million at Owned Brokerage Group, $4 million at Title Group and $9 million in Corporate and Other. 3. Non-cash impairments in 2024 relate to leases and other assets. In 2023, these relate to a $25 million impairment at Franchise Group to reduce goodwill related to Cartus, a $25 million impairment of franchise trademarks and impairments of leases and other assets. 4. Former parent legacy items and Gain on the early extinguishment of debt are recorded in Corporate and Other. 5. Legal contingencies includes $2 million in Corporate and Other for the year ended December 31, 2024 and $34 million and $9 million in Corporate and Other and Brokerage Group, respectively, for the year ended December 31, 2023. Note: Refer to Table 9 of the Press Release dated February 13, 2025 for the definitions of certain non-GAAP financial measures and the Company’s explanation of why it believes those non-GAAP measures are useful to investors. GAAP Reconciliation 29
Page 30
Note: Refer to Table 7 of the Press Release dated February 13, 2025 for a reconciliation of net cash provided by operating activities to Free Cash Flow. Refer to Table 9 of the Press Release dated February 13, 2025 for the definitions of certain non-GAAP financial measures and the Company’s explanation of why it believes those non-GAAP measures are useful to investors. ($ in millions) For the three months ended For the years ended 12/31/2024 12/31/2023 12/31/2024 12/31/2023 Net loss attributable to Anywhere $ (64) $ (107) $ (128) $ (97) Income tax expense (benefit) 13 (22) (2) (15) Income tax payments — (10) (1) (14) Interest expense, net 36 37 153 151 Cash interest payments (47) (33) (158) (168) Depreciation and amortization 47 47 198 196 Capital expenditures (24) (20) (78) (72) Restructuring costs and former parent legacy items, net of payments (2) (2) — 23 Impairments 11 54 20 65 Gain on the early extinguishment of debt — — (7) (169) Loss on the sale of businesses, investments or other assets, net 3 — 3 2 Working capital adjustments 19 32 37 141 Relocation receivables (assets), net of securitization obligations 41 11 13 24 Free Cash Flow $ 33 $ (13) $ 50 $ 67 GAAP Reconciliation 30
Page 31
Thank You 31