PROPZY

Dear fellow Propzians, It’s been nearly 6 months since my last message to you and since that time the global market continues to be hammered with challenges from COVID to the Russian-Ukrainian war. While these are external factors to our real estate business at Propzy, they are nonetheless factors that affect the global investment sentiment. At Propzy, we’ve been experiencing quite some challenges executing on the marketplace opportunity shared in my last message. Change in nature is inevitable when the environment dictates…startups such as Propzy are no different. WIth the fundraising landscape having changed dramatically over the past few months, we must now refocus Propzy in the best possible position to ensure investor support remains strong, while gaining attractiveness from new investors for our business and its long-term prospects. As many of you might be aware, over the course of the last 3 quarters we’ve been executing our iBuy business with good success. That success has enabled us to evolve and develop Propzy’s business going forward to focus its resources on the iBuy opportunity. I have spent the past 2 months prepping our investors and BoD of these changes. Now, I am sharing with you; my fellow Propzians. Our iBuy business is pretty simple: 1/ Use a lot of data to identify if properties are suitable to acquire then delivering quick sales to end consumers at a target return 2/ Use our key assets: (a) website traffic to source both quality inventory directly from home sellers looking for a quick and easy sale to Propzy and buyers looking to purchase a quality home at a fair price from a trusted company; and (b) our data and transaction expertise to minimize risk while maximizing return. In order to execute and scale this business, we have to unfortunately eliminate non-core operations that drain our management focus in addition to human capital. Over the course of the next few days, your group manager will work closely with each of you to prepare for the transition. I truly thank each and every one of you for your efforts and contributions to get Propzy this far. Your hard work and dedication did not go to waste as it’s allowed Propzy to continue its march forward to pursue more promising opportunities. I wish each and every one of you who will not be continuing on in this journey with us best of luck in your future endeavors. Best regards, John