Q3 2022 Earnings Conference Call

October 27, 2022 - 8:00 am PDT

Meritage Homes at a Glance

10

States

36

Years in Business

155,000+

Homes Built

Latest Financial Results

31.6%

Home closing gross margin improved 430 bps YoY to a record high of 31.6% in the second quarter of 2022 from 27.3% in the prior year.

303

We achieved our 300 community goal, ending June 2022 with 303 communities, which was up 34% YoY, and 13% sequentially.

$6.77

Diluted EPS increased by 55% compared to prior year resulting from pricing power, expanded gross margin, and improved overhead leverage, combined with a lower outstanding share count in the current quarter.

Latest Annual Report

For Fiscal Year Ending Dec 31, 2021

For complete information regarding our financials, see our periodic filings

Broad Footprint in Growing Markets

East Bay, Central Valley, Sacramento and Southern CA; Phoenix / Scottsdale and Tucson, AZ; Denver, CO; Dallas / Fort Worth, Austin, San Antonio and Houston, TX; Nashville, TN; Raleigh and Charlotte, NC; Greenville, Charleston and Myrtle Beach, SC; Atlanta, GA; Orlando, Tampa and South Florida, FL; Salt Lake City, UT

A Renowned Leader in Energy-efficient Homebuilding

A Renowned Leader in Energy-efficient Homebuilding

Meritage Homes is the seventh-largest public homebuilder in the United States, based on homes closed in 2021. Meritage offers a variety of homes that are designed with a focus on entry-level and first move-up buyers. Operations span Arizona, California, Colorado, Texas, Florida, Georgia, North Carolina, South Carolina, Tennessee and Utah.

The Company has delivered over 155,000 homes in its 36-year history, and has a reputation for its distinctive style, quality construction, and award-winning customer experience. Meritage is the industry leader in energy-efficient homebuilding and an eight-time recipient of the U.S. Environmental Protection Agency's ENERGY STAR® Partner of the Year for Sustained Excellence Award since 2013 for innovation and industry leadership in energy efficient homebuilding.

Average Community Count by Product Type

2Q22

Orders by Product Type

2Q22

Recent Quarterly Results by Region

West Region

Home Closing Revenue (In thousands)

Central Region

Home Closing Revenue (In thousands)

East Region

Home Closing Revenue (In thousands)

West Region

Homes Closed

Central Region

Homes Closed

East Region

Homes Closed

National & Regional Awards

Meritage Homes is a nationally recognized leader in public homebuilding and is a recipient of various national and regional awards.

Energy Star 2022 - Partner of the year Sustained Excellence
Market Leader Award 2022 Certified Homes
2022 Indoor airPLUS Leader Award Winner
Avid award diamond
Avid award benchmark
Avid award gold
Green Builder Home of the year

Offering Great Homes at Affordable Prices

We are committed to building great homes that are designed with a focus on entry-level and first move-up buyers in hundreds of communities in 9 states.

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Setting the Bar for Homes of The Future

We’re setting the new standard in home construction and design and leading the way in energy-efficient homes so that families across the U.S. can live better and healthier.

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Providing More Than Just Homes

Our comprehensive library of buyer resources provides helpful information on home buying, financing, design, energy efficiency, and more.

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Investor Contact Information

Company

Meritage Homes Corporation
8800 E. Raintree Drive
Suite 300
Scottsdale, AZ 85260
T: (480) 515-8100
Contact.Center@MeritageHomes.com

Investor Relations

Emily Tadano
Vice President of Investor Relations and ESG
T: (480) 515-8979
Investors@MeritageHomes.com

Transfer Agent

Computershare
P.O. Box 43006
Providence, RI 02940-3006
T: (800) 851-9677
www.computershare.com