Zillow : Provides Update on Capital Repurchases

June 13, 2024- Zillow Group, Inc. (Nasdaq: Z and ZG), which is transforming the way people buy, sell, rent and finance homes, today provided an update on the Company's repurchase program:

Quarter to date through June 13, 2024, Zillow Group has purchased $380 million of the Company's outstanding capital, consisting of $88 million aggregate principal amount of the Company's convertible senior notes due in 2025 and $292 million of shares at a weighted average price of $42.34 per share for a total of 7 million shares.

"We are focused on execution and excited about the opportunities in front of Zillow to drive profitable growth over time," said Zillow Group co-founder and CEO Rich Barton. "We believe this is an opportunistic time to leverage our strong cash position to drive value as we support growth and return capital to our shareholders."

Since the fourth quarter of 2021, Zillow Group has repurchased a total of approximately $2 billion of stock at a weighted average price of $45.10 per share, for a total of 44 million shares and $146 million aggregate principal amount of convertible senior notes. Zillow Group has $381 million remaining under its repurchase authorization as of June 13, 2024. As part of its repurchase program, Zillow Group evaluates factors such as historical and projected performance, cash position, global economic conditions, and stock market prices in determining capital allocation for securities repurchases. The timing, method, price and volume of repurchases are at Zillow Group's discretion and may involve various transaction approaches, including entering into a 10b5-1 program. There is no obligation to repurchase a specific number of securities, and the program is subject to modification, suspension or termination.

About Zillow Group:

Zillow Group, Inc. (Nasdaq: Z and ZG) is reimagining real estate to make home a reality for more and more people. As the most visited real estate website in the United States, Zillow and its affiliates help people find and get the home they want by connecting them with digital solutions, dedicated partners and agents, and easier buying, selling, financing and renting experiences.

Zillow Group's affiliates, subsidiaries and brands include Zillow®, Zillow Premier Agent®, Zillow Home Loans℠, Trulia®, Out East®, StreetEasy®, HotPads®, ShowingTime+℠ , Spruce® and Follow Up Boss®.

All marks herein are owned by MFTB Holdco, Inc., a Zillow affiliate. Zillow Home Loans, LLC is an Equal Housing Lender, NMLS #10287 (www.nmlsconsumeraccess.org). © 2023 MFTB Holdco, Inc., a Zillow affiliate.

Forward-Looking Statements

This blog post contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve risks and uncertainties, including, without limitation, statements regarding our growth strategy and opportunities. Statements containing words such as "may," "believe," "anticipate," "expect," "intend," "plan," "project," "predict," "will," "projections," "continue," "estimate," "outlook," "guidance," "would," "could," "strive," or similar expressions constitute forward-looking statements. Forward-looking statements are made based on information currently available to management, and although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee these results. Differences in Zillow Group's actual results from those described in these forward-looking statements may result from actions taken by Zillow Group as well as from risks and uncertainties beyond Zillow Group's control. For more information about potential factors that could affect Zillow Group's business and financial results, please review the "Risk Factors" described in Zillow Group's publicly available filings with the SEC. Except as may be required by law, Zillow Group does not intend and undertakes no duty to update this information to reflect future events or circumstances.