Q3 2021 Earnings Conference Call

October 28 2021 - 8:00 am PDT

Meritage Homes at a Glance

9

States

36

Years in Business

145,000+

Homes Built

Latest Financial Results

27.3%

We generated the Company’s all-time high quarterly home closing gross margin of 27.3% in the second quarter of 2021. We expanded our margin year-over-year by 590 bps, mainly resulting from efficiencies gained from higher ASP and leveraging of our fixed costs on greater home closing volume, which more than offset the high lumber prices and increases in other commodity costs.

226

Our community count grew 11% sequentially from 203 communities at March 31, 2021 to 226 communities at June 30, 2021.

83%

Second quarter 2021 diluted EPS improved 83% year-over-year to $4.36 due to higher closing volume, pricing power, expanded gross margin and improved overhead leverage.

Latest Annual Report

For Fiscal Year Ending Dec 31, 2020

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, SC; Atlanta, GA; Orlando, Tampa and South Florida

A Renowned Leader in Energy-efficient Homebuilding

A Renowned Leader in Energy-efficient Homebuilding

Meritage Homes is the sixth-largest public homebuilder in the United States, based on homes closed in 2020. Meritage offers a variety of homes that are designed with a focus on entry-level and first move-up buyers in Arizona, California, Colorado, Texas, Florida, Georgia, North Carolina, South Carolina and Tennessee.

The Company has delivered over 145,000+ 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

2Q21

Orders by Product Type

2Q21

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 Stars 2019 - Partner of the year Sustained Excellence
Energy - Leadership in housing award recipient
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.

Learn More

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.

Learn More

Providing More Than Just Homes

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

Learn More

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, Investor Relations
T: (480) 515-8979
Investors@MeritageHomes.com

Transfer Agent

Computershare
462 South 4th Street
Louisville, KY 40202
T: (800) 851-9677
www.computershare.com