EGF exerts its effects by binding to the EGF receptor (EGFR), a transmembrane protein with intrinsic tyrosine kinase activity. Upon binding, the receptor undergoes dimerization and autophosphorylation, leading to the activation of several downstream signaling pathways such as the Ras-Raf-MEK-ERK pathway and the PI3K-Akt pathway. These pathways are critical for the regulation of cellular processes like proliferation, survival, and migration.