Douglas Elliman : Investor Presentation

Investor

Presentation

March 2023

Disclaimer

This document and any related oral presentation does not constitute an offer or invitation to subscribe for, purchase or otherwise acquire any securities or other instruments of Douglas Elliman Inc. ("Douglas Elliman Inc.", "DOUG" or "the Company") or its subsidiaries and nothing contained herein or its presentation shall form the basis of any offer, contract or commitment whatsoever.

The distribution of this document and any related oral presentation in certain jurisdictions may be restricted by law and persons into whose possession this document or any related oral presentation comes should inform themselves about, and observe, any such restriction. Any failure to comply with these restrictions may constitute a violation of the laws of any such other jurisdiction.

The information contained herein does not constitute investment, legal, accounting, regulatory, taxation or other advice and the information does not take into account your investment objectives or legal, accounting, regulatory, taxation or financial situation or particular needs. You are solely responsible for forming your own opinions and conclusions on such matters and the market and for making your own independent assessment of the information. You are solely responsible for seeking independent professional advice in relation to the information and any action taken on the basis of the information.

The following presentation may contain "forward-looking statements," including any statements that may be contained in the presentation that reflect the Company's expectations or beliefs with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those contained in any forward-looking statement made by or on behalf of the Company, including the risk that changes in Douglas Elliman Inc.'s capital expenditures impact its expected free cash flow and the other risk factors described in Douglas Elliman Inc.'s annual report on Form 10-K for the year ended December 31, 2021 and, when filed with the SEC, Form 10-K for the year ended year ended December 31, 2022. Please also refer to Douglas Elliman Inc.'s Current Reports on Form 8-K, filed on March 10, 2023 (Commission File Number 1-41054) as filed with the SEC for information, including cautionary and explanatory language, relating to Non-GAAP Financial Measures in this Presentation labeled "Adjusted".

Results actually achieved may differ materially from expected results included in these forward-looking statements as a result of these or other factors. Due to such uncertainties and risks, potential investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date on which such statements are made. The Company disclaims any obligation to, and does not undertake to, update or revise any forward- looking statements in this presentation.

2

Investment Highlights

Unique Investment Opportunity in Tech-Enabled Residential Real Estate Brokerage with Comprehensive Suite of Real Estate Solutions, Industry-leading Brand Name and Talented Team of Employees and Agents

Comprehensive solution

provides for multiple revenue streams and monetization of valuable agent relationships

Attractive financial profile

with balance sheet

strength

Experienced management team with substantial real estate expertise and experience managing through market cycles

Strong platform for continued long-term growth

Industry-leading brand

name with a strong

presence in most major

U.S. luxury markets

Cutting-edge property

technology supportive of

agent recruitment,

retention and productivity

3

Douglas Elliman at a Glance

• Founded in 1911 as a pioneer in the real estate industry that has continued to challenge the status quo through innovation and high- quality service provided by best-in-class real estate agents
• Leading brand associated with service, luxury and forward thinking operating in markets that are primarily densely populated international finance and technology hubs offering housing inventory at premium price points
• Core residential real estate brokerage and world-class development sales and marketing ("DEDM") business complemented with ancillary services including property management, title and escrow services
• Comprehensive suite of technology-enabled real estate solutions that bring efficiency, market intelligence and competitive advantage to our agents while supporting agent recruitment, retention and productivity
• Technology powered by leading providers and our investments in innovative PropTech companies keeps our agents on the cutting edge with solutions that can be quickly integrated into our infrastructure, while also allowing us to remain asset-light
• With a strong balance sheet and experience managing through market cycles, well-positioned to capitalize on opportunities in the U.S. residential real estate market

Experienced and Skilled Management Team

	Richard Lampen	Scott Durkin
Howard Lorber	President and Chief
Director, Executive Vice
Chairman, President and	Executive Officer,
President and Chief
Chief Executive Officer	Douglas Elliman Realty
Operating Officer
	LLC
Bryant Kirkland	Marc Bell	David Ballard
Senior Vice President,	Senior Vice President,	Senior Vice President,
Treasurer and Chief	Secretary and General	Enterprise Efficiency and
Financial Officer	Counsel	Chief Technology Officer

4

Douglas Elliman's Geographical Footprint

One

#6 Nationallyof the in New York

Largest

~6,900 affiliated agents across approximately 120 U.S. offices

Alliance with Knight Frank provides an international network of an additional 384 offices across, 51 countries and approximately 16,000 agents

GTV: $1.0b

Market Share: 34.6%

	Entered Market in	Colorado(2)
California(3)
2022
GTV: $5.7b	Las Vegas
Market Share: 5.5%

GTV: $1.4b

Texas

Massachusetts

GTV: $500m

Market Share: 12.3%

New York Massachusetts(1)

Connecticut

New York City

New Jersey

New York City

GTV: $15.0b

Market Share: 20.0%

NY Suburbs(4)

GTV: $8.9b

Market Share: 14.9%

Florida(5)	GTV: $10.3b
Market Share: 17.4%

Source: Miller Samuel reports.

Note: Market share and rankings represent year ended December 31, 2022 based on gross transaction value ("GTV"). Figures based on transaction close date. GTV in each selected region represents the year ended December 31, 2022. Market share is defined as the dollar value of a transaction where Douglas Elliman is represented on either side of the transaction divided by the total dollar volume of transactions in a market. If Douglas Elliman is representing both sides of the transaction, the volume from one side of the transaction is counted.

1. Includes Boston. Market share information does not include 2022 expansion market of Nantucket.
2. Includes Aspen and Snowmass Village. Does not include 2022 expansion into Basalt.
3. Includes Los Angeles (Westside and Downtown), Malibu, Malibu Beach, Orange County and San Diego County. Does not include 2022 expansion into Newport Beach.
4. Includes Long Island, North Fork, Hamptons, Greenwich and Westchester County. Market share does not include New Jersey or 2022 expansion into New Canaan, CT.
5. Includes Boca Raton / Highland Beach, Coral Gables, Delray Beach, Fort Lauderdale, Palm Beach Gardens, Jupiter, Manalapan, Miami, Palm Beach, St. Petersburg, Tampa, Wellington and West Palm Beach. Market share information does not include 2022 expansion markets of Vero Beach and Ponte Vedra Beach.

5