Good morning, and welcome to the 2026 annual meeting of stockholders of Opendoor Technologies Inc. I am Rishi Kotiya, Head of Legal and Corporate Secretary of Opendoor Technologies. On behalf of management and our Board of Directors, it is my pleasure to welcome you here today for this meeting. Today's agenda for the meeting is available on your screen. We are pleased to be hosting our meeting virtually. We will conduct the business portion of our meeting first and answer questions at the end of the meeting. Though we may not be able to answer every question, we will do our best to provide a response to as many as possible. It is now shortly after 9:30 A.M. Pacific Time on June 11th 2026, this meeting is officially called to order. The polls opened today, June 11th, 2026, at 9:30 A.M. Pacific Time for voting on all matters before the meeting. Now I would like to introduce the members of our Board of Directors in attendance at today's meeting. With us today, we have our CEO and member of the board, Kasra Nejatian, as well as Adam Bain, David Benson, Eric Feder, and Dana Hamilton, each a director of Opendoor Technologies. We are also joined here today by Lindsey Cooper and Derek Standifer of Deloitte & Touche LLP, our independent auditors. They will be available during the question and answer session after the meeting to respond to appropriate questions. Finally, the company has appointed Broadridge to act as Inspector of Election. [Jan Castillo] from Broadridge is with us today and has previously taken her oath as Inspector of Election. Should you desire to ask a question during the question and answer session after the official business concludes, please use the questions pane on your computer screen. During the question and answer portion of the meeting, Kasra and I will be available to answer your submitted questions. The rules of conduct for the meeting are available on your screen. In order to conduct our orderly meeting, we ask that participants abide by these rules. We appreciate your cooperation. The Board of Directors fixed April 16th, 2026, as the record date for determining stockholders entitled to vote at this meeting. Broadridge delivered an affidavit attesting to the fact that a notice of internet availability of proxy materials for this meeting was mailed on or about April 28th, 2026, to all stockholders as of the record date, which will be incorporated into the minutes of this meeting. The stockholder list shows that as of the record date, there were 964,704,409 shares of common stock outstanding and entitled to vote at this meeting. We are informed by the Inspector of Election that a quorum is present for purposes of transacting business. Now we will proceed with the official business of this meeting. The polls will remain open until we finish presenting the proposals and announce the closing of the polls. You do not need to vote during the meeting if you have already voted and do not wish to change your vote. Each proposal described in the proxy statement will be considered and voted upon. The votes will then be tabulated, we will announce the preliminary results. There are three proposals to be considered by the stockholders at this meeting. The board of directors recommends that you vote for each of the proposals. Proposal one is the election of three class three directors, each to hold office for a three-year term expiring at the 2029 annual meeting of stockholders and until their successors are elected or appointed. The candidates nominated for election are David Benson, Eric Feder, and Eric Wu. Each of these nominees currently serves as a director of the company. Proposal two is the ratification of the appointment of Deloitte & Touche LLP to serve as the company's independent registered public accounting firm for the fiscal year ending December 31st, 2026. Lindsey Cooper and Derek Standifer of Deloitte & Touche LLP are in attendance and are available for questions. Proposal 3 asks the stockholders to approve, on an advisory, non-binding basis, the compensation paid to the company's named executive officers for 2025. That was the final proposal for today's meeting. No further business is on the agenda to come before this meeting, we will move on to voting. As a reminder, if you have provided your proxy card or otherwise voted in advance of the meeting, your shares will be voted accordingly. Please do not vote now unless you want to change your vote. If you have not already voted or want to change your vote, please do so now in accordance with the instructions on your computer screen. We will pause here for 30 to 45 seconds to permit stockholders the chance to vote. The time is now 9:37 A.M. Pacific Time on June 11th, 2026, and the polls are closed for voting. I now ask the Inspector of Election, Jan Castillo, to tally the votes and report the preliminary results. Based on the preliminary report of the Inspector of Election, David Benson, Eric Feder, and Eric Wu have each been elected to serve as a director of the company for a three-year term expiring at the 2029 annual meeting of stockholders. The appointment of Deloitte & Touche LLP to serve as the company's independent registered public accounting firm for the fiscal year ending December 31st, 2026, has been ratified, and the compensation paid to the company's named executive officers for 2025 has been approved. Thank you, Jan. The final tally of the votes will be filed with the SEC within four business days of their current report on Form 8-K. There are no other matters to be considered, I wish to thank you for attending today's meeting. The meeting is now officially adjourned. We are now available to answer questions from stockholders as time permits. Please note that we will only answer questions that are within the parameters of the rules of conduct and procedures posted on www.virtualshareholdermeeting.com/open2026 and available through the virtual meeting platform. Only stockholders who have logged into the meeting using the instructions provided to them will be able to ask questions. The first question we've received is, "Why is the share price performing so poorly?" I'll hand it over to Kasra to answer this question. Thanks, Rishi. Before I answer the question, let me just say that all of us at Opendoor Technologies deeply appreciate the support the shareholders have shown us during the preliminary results. From me, thank you. We will not let you down. Let me answer this question in two parts. First, I personally bought the stock last month, and I obviously care a great deal about it, right? The second thing I think is more important. I think it's important to differentiate between the company and the stock price, right? The stock price is the public market trying to determine the value of the company. The company drives the stock price, not the other way around. I work on the company, and if the company keeps doing well, that will be reflected in the stock price over time. I don't think Tesla became a worse company when its stock price dropped by 20% in one day, or the multiple times when the stock price of Tesla dropped by more than 10% a day. I think Tesla was an excellent company on those days. It's just that the market was wrong about the value of Tesla. I deeply admire Jeff Bezos, and I think he said it best when the Amazon stock fell a lot. He said he spends his time focusing on the internal metrics of the company. That's what I'm doing too, right? In a housing market that was supposed to break us, our cohorts are delivering. What I control here is the internal numbers, and I focus on those. Cohort slope, acquisition contract, inventory health, and the margin, right? Those determine if we're going to win. You can tell we're winning because the margin got better every single month from September onto the end of the quarter, as we talked about in our earnings call. My job here, I think, is to keep building a great business with ever-improving economics, and I'm sure that the stock price will eventually catch up to the business. Thank you, Kasra. There are no further questions. With that, this concludes our 2026 annual meeting. I want to thank you for attending and for your interest in Opendoor Technologies. The meeting has officially concluded. Again, thank you for attending today. You may now disconnect your lines.