Anywhere Real Estate — Q2 2025 Earnings Presentation
32 slides from Anywhere Real Estate's earnings presentation, Jul 29, 2025
Slide 1: Second Quarter Earnings
Second Quarter Earnings July 29, 2025 1
Slide 2: Management Presenters
Management Presenters Ryan Schneider Charlotte Simonelli Tom Hudson Chief Executive Officer Executive Vice President and Vice President, Investor Relations and President Chief Financial Officer 2
Slide 3: Important Disclosures
Important Disclosures 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 itse
Slide 4: Our Business
Our Business 4
Slide 5: The Anywhere Network
The Anywhere Network 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. 5
Slide 6: 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 Anywhere has the recognized brokerage brands Competitive Edge End-to-end national assets in brokerage
Slide 7: Second Quarter Results
Second Quarter Results 7
Slide 8: Q2 2025 By The Numbers
Q2 2025 By The Numbers Flat Y/Y $1.7B $133M Combined Closed Transaction Revenue Generated Operating EBITDA 1 Volume Growth, +3.5% luxury volume Revenue $(5)M $25M Improved Financial Free Cash Flow 1 Realized Cost Savings Flexibility (On track to realize $100M cost savings 2 (Including a $41M legacy
Slide 9: Revenue Waterfall
Revenue Waterfall Revenue by Segment $108 $1,682 $1,398 $(93) $269 Franchise Group Owned Brokerage Title Group Corporate & Other Total Group $5M Y/Y increase $5M Y/Y increase $1M Y/Y decrease driven by ABCR $4M Y/Y increase attributable to an in elimination of reflecting strength $13M Y/Y increase d
Slide 10: Operating EBITDA Waterfall
Operating EBITDA Waterfall Operating EBITDA by Segment $163 $— $10 $133 $(40) Franchise Group 1 Owned Brokerage Title Group Corporate & Other Total Group Margin % 61% 0% 9% 8% $11M Y/Y decrease $4M Y/Y decrease $1M Y/Y increase $4M Y/Y increase driven by higher driven by higher attributable to $10M
Slide 11: Operating EBITDA Waterfall (without intercompany royalty)
Operating EBITDA Waterfall (without intercompany royalty) Operating EBITDA by Segment $93 $10 $133 $(40) $70 Franchise Group Owned Brokerage Title Group Corporate & Other Total Group Margin % 40% 7% 9% 8% $11M Y/Y decrease $3M Y/Y decrease $1M Y/Y increase $3M Y/Y increase driven by higher driven by
Slide 12: Transaction Volume
Transaction Volume Q2 2025 vs. Q2 2024 Anywhere Combined Closed Homesale Sides (4)% Average Homesale Price 4% Combined Total Homesale Transaction Volume (sides x price) —% 1 Anywhere Brands - Franchise Group Closed Homesale Sides (4)% Average Homesale Price 4% Total Homesale Transaction Volume (side
Slide 13: Key Revenue Drivers
Key Revenue Drivers Q2 2025 vs. Q2 2024 Amount % Change 1 Anywhere Brands - Franchise Group Closed Homesale Sides 186,970 (4)% Average Homesale Price $527,356 4% Average Broker Commission Rate 2.41% (1) bps Net Royalty per Side $474 3% Anywhere Advisors - Owned Brokerage Group Closed Homesale Sides
Slide 14: Revenue Details
Revenue Details Net Revenue ($ in millions) Q2 2025 Q2 2024 $ Change 1 Franchise Group $ 269 $ 265 $ 4 Owned Brokerage Group 1,398 1,393 5 Title Group 108 103 5 2 Corporate & Other (93) (92) (1) Total Revenue $ 1,682 $ 1,669 $ 13 1. Franchise Group is inclusive of Anywhere Leads Group and Cartus Rel
Slide 15: Operating EBITDA Details
Operating EBITDA Details Operating EBITDA ($ in millions) Q2 2025 Q2 2024 $ Change 1 Franchise Group $ 163 $ 159 $ 4 Owned Brokerage Group — 4 (4) Title Group 10 9 1 Corporate & Other (40) (29) (11) Operating EBITDA $ 133 $ 143 $ (10) 1. Franchise Group is inclusive of Anywhere Leads Group and Cartu
Slide 16: Operating EBITDA without Intercompany Royalty
Operating EBITDA without Intercompany Royalty Operating EBITDA ($ in millions) Q2 2025 Q2 2024 $ Change Franchise Group $ 70 $ 67 $ 3 Owned Brokerage Group 93 96 (3) Franchise & Owned Brokerage Combined $ 163 $ 163 $ — Note: The segment numbers noted above do not reflect the impact of intercompany r
Slide 17: Advisors: Quarterly Agent Commission Split Rate
Advisors: Quarterly Agent Commission Split Rate Quarterly Agent Commission Split (Commission Expense divided by Gross Commission Income) (%) 82.0% 80.9% 80.5% 80.4% 80.3% 80.3% 80.4% 80.3% 80.1% 80.1% 80.2% 80.0% 79.8% 80.0% 79.6% 36bps y/y increase in Q2 primarily attributable to transaction mix, a
Slide 18: Operating, Marketing, and G&A by Reportable Segment
Operating, Marketing, and G&A by Reportable Segment For the three months ended June 30, 2025 ($ in millions) Operating Marketing General and 1 Total Administrative 2 Franchise Group $ 61 $ 21 $ 25 $ 107 Owned Brokerage Group 246 27 10 283 Title Group 86 5 11 102 3 Corporate & Other (90) (4) 43 (51)
Slide 19: Transformed Debt Stack
Transformed Debt Stack December 31, 2019 ($M) Total Debt 3,472 • Reducing debt and investing in the business remain our 1,314 top capital allocation priorities 407 1,058 • In Q2 2025, issued $500M of Second Lien Secured Debt to 717 repurchase Exchangeable notes. Purchased $345M at a 550 550 discount
Slide 20: Capitalization Table
Capitalization Table Pricing Maturity As of June 30, 2025 1 2 Revolving Credit Facility SOFR+10bps+175 July 2027 $ 610 Senior Secured Second Lien Notes 9.750% April 2030 500 Senior Secured Second Lien Notes 7.000% April 2030 640 Senior Notes 5.750% January 2029 559 Senior Notes 5.250% April 2030 449
Slide 21: Appendix
Appendix 21
Slide 22: GAAP Reconciliation
GAAP Reconciliation For the three months ended ($ in millions) 6/30/2025 6/30/2024 Net income attributable to Anywhere $ 27 $ 30 Income tax expense 9 11 Income before income taxes 36 41 Add: Depreciation and amortization 49 48 Interest expense, net 36 40 1 Stock-based compensation 4 4 2 Restructurin
Slide 23: GAAP Reconciliation
GAAP Reconciliation For the three months ended ($ in millions) 6/30/2025 6/30/2024 Franchise Group $ 163 $ 159 Owned Brokerage Group — 4 Title Group 10 9 Corporate and Other (40) (29) Operating EBITDA 133 143 Less: Depreciation and amortization 49 48 Interest expense, net 36 40 Income tax expense 9
Slide 24: GAAP Reconciliation
GAAP Reconciliation For the three months ended ($ in millions) 6/30/2025 6/30/2024 Net income attributable to Anywhere $ 27 $ 30 Income tax expense 9 11 Income tax refunds (payments) 9 (2) Interest expense, net 36 40 Cash interest payments (52) (48) Depreciation and amortization 49 48 Capital expend
Slide 25: Historical Cost Savings Delivery
Historical Cost Savings Delivery 1 2 Anywhere Realized Cost Savings by Year ($M) Anywhere Actual Flow Through of Savings to Expenses ($M) We realized approximately $660M of total cost savings ~$220 ($428) between 2020 and 2024 2,140 ~$150 1,712 ~$125 Approximately 35% of total cost ~$80 ~$85 savings
Slide 26: Historical Cost Savings Delivery and 2025 Savings Program Target
Historical Cost Savings Delivery and 2025 Savings Program Target 1 We expect to realize ~$100M of additional cost savings in 2025, which will represent ~$830M of cost savings since 2019 ~$220 2025 Cost Savings Target2 • ~$20M of carryover from actions taken in ~$150 2024 ~$125 • 95% of savings alrea
Slide 27: Investment Highlights
Investment Highlights 27
Slide 28: Attractive Franchise Power
Attractive Franchise Power Unmatched Brand Portfolio 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
Slide 29: Unparalleled Franchise Scale
Unparalleled Franchise Scale 11,200 WORLDWIDE SALES AGENTS 130,200 WORLDWIDE SALES AGENTS 96,300 WORLDWIDE SALES AGENTS 58,231 U.S. ANNUAL SIDES 219,329 U.S. ANNUAL SIDES 468,004 U.S. ANNUAL SIDES 4,900 WORLDWIDE SALES AGENTS 43,200 WORLDWIDE SALES AGENTS 26,100 WORLDWIDE SALES AGENTS 16,494 U.S. AN
Slide 30: Market Leader in Luxury Real Estate
Market Leader in Luxury Real Estate Iconic Luxury Brands We Sell More $1M+ Homes Than Anyone1,2 Market Share of $1M+ Homes, 2024 US Volume 17% #1 #2 #3 #4 #5 Fast Facts1 We Do Even Better At Higher Price Points1,2 • Expanded our luxury leadership in 2024 with new global locations and Market Share of
Slide 31: Leading Provider of Title & Settlement Services
Leading Provider of Title & Settlement Services Title Agency Operations1 Upward Title (launched 2023)2 • Full-Service title, escrow and settlement services across more than 40 • New multi-franchise title joint venture offering, exclusively for affiliates brand names • Upward JVs are full-service tit
Slide 32: Thank You
WE MOVE THE FUTURE ANYWHERE REAL ESTATE INC 32 anywhere’ ak CENTURY 21. SB. COVCOTaN BANKER Thank You Anywhere Integrated €cartus Services *