A Note from the Head of Blend

Today I reported a substantial sale of Blend shares under my name and I wanted to clarify facts and circumstances behind the sale.

I leveraged my holdings in Blend shares to secure a personal loan, which primarily related to the costs of exercising options to purchase additional shares prior to our IPO. I did this based on my strong belief in Blend’s mission and future, and my desire to be substantially and personally invested in the company alongside all of our shareholders.

In light of the declines in Blend’s stock price, I have sold some of my holdings in Blend shares and used the proceeds to reduce the outstanding amount under the loan, as required under the loan documentation. I will make additional sales of shares from time to time to further pay down the loan.

It’s important to know that while this event is personally disappointing, I’ve never been more committed to Blend and what we are accomplishing. I continue to have substantial holdings in Blend shares, and my interests continue to be aligned with other shareholders’.

I also want to make clear that this does not change or impact our priorities as a business, and we remain laser focused on serving our customers.