D R Horton : Q2 FY 2021 Investor Presentation

Investor Presentation

Q2 2021

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FORWARD-LOOKING STATEMENTS

This presentation may include "forward‐looking statements" as defined by the Private Securities Litigation Reform Act of 1995. Although D.R. Horton believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Factors that may cause the actual results to be materially different from the future results expressed by the forward‐looking statements include, but are not limited to: the effects of public health issues such as a major epidemic or pandemic, including the impact of COVID‐19 on the economy and our businesses; the cyclical nature of the homebuilding and lot development industries and changes in economic, real estate and other conditions; constriction of the credit and public capital markets, which could limit our ability to access capital and increase our costs of capital; reductions in the availability of mortgage financing provided by government agencies, changes in government financing programs, a decrease in our ability to sell mortgage loans on attractive terms or an increase in mortgage interest rates; the risks associated with our land and lot inventory; our ability to effect our growth strategies, acquisitions or investments successfully; the impact

of an inflationary, deflationary or higher interest rate environment; home warranty and construction defect claims; the effects of health and safety incidents; supply shortages and other risks of acquiring land, building materials and skilled labor; reductions in the availability of performance bonds; increases in the costs of owning a home; the effects of governmental regulations and environmental matters on our homebuilding and land development operations; the effects of governmental regulations on our financial services operations; competitive conditions within the homebuilding, lot development and financial services industries; our ability to manage and service our debt and comply with related debt covenants, restrictions and limitations; the effects of negative publicity; the effects of the loss of key personnel; and information technology failures, data security breaches and our ability to satisfy privacy and data protection laws and regulations. Additional information about issues that could lead to material changes in performance is contained in D.R. Horton's annual report on Form 10‐K and most recent report on Form 10‐Q, both of which are filed with the Securities and Exchange Commission.

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D.R. HORTON, INC.

Traded on NYSE as DHI

$24.2 billion	$4.1 billion	31.2% & 27.1%
Consolidated revenues	Consolidated pre‐tax income	ROI (HB) & ROE, respectively*

$13.0 billion	$35.96	16.8%
Stockholders' equity	Book value per common share	Homebuilding leverage*

As of or for the twelve‐month period ended March 31, 2021

*See slides 14 and 15 for definitions of ROI [Return on Inventory (Homebuilding)], ROE (Return on Equity) and homebuilding leverage

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DHI GROWTH, CONSOLIDATION AND MARKET SHARE

1,400		76,330 Homes Closed during TTM ended 3/31/2021

2020 Closings:

10%

1,200

1,000
800	2006 Closings:
53,410
	2011 Closings:
	17,176
600
400
200	1992 Closings:
	1,231
0

71,168

9%

8%

7%

6%

5%

4%

3%

2%

1%

0%

1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Source: Company filings, Census

Note: Periods represent full calendar year

Total New U.S. Single‐Family Houses Sold ('000s)

DHI Homes Closed as a Percentage of U.S. Single‐Family New Home Sales

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