Third Quarter 2021

Analyst Conference Call

October 28, 2021

Forward-Looking Statements

The information included in this presentation and the accompanying comments from management contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include expectations about the housing market in general; projected 2021 home closings, home closing revenue, home closing gross margins, effective tax rate and diluted earnings per share; future community counts; trends in construction costs; and expectations about our future results.

Such statements are based on the current beliefs and expectations of Company management and current market conditions, which are subject to significant uncertainties and fluctuations. Actual results may differ from those set forth in the forward-looking statements. The Company makes no commitment, and disclaims any duty, except as required by law, to update or revise any forward-looking statements to reflect future events or changes in these expectations. Meritage's business is subject to a number of risks and uncertainties. As a result of those risks and uncertainties, the Company's stock and note prices may fluctuate dramatically.

These risks and uncertainties include, but are not limited to, the following: changes in interest rates and the availability and pricing of residential mortgages; inflation in the cost of materials used to develop communities and construct homes; supply chain constraints; our ability to obtain performance and surety bonds in connection with our development work; the ability of our potential buyers to sell their existing homes; legislation related to tariffs; the adverse effect of slow absorption rates; impairments of our real estate inventory; cancellation rates; competition; home warranty and construction defect claims; failures in health and safety performance; fluctuations in quarterly operating results; our level of indebtedness; our ability to obtain financing if our credit ratings are downgraded; our potential exposure to and impacts from natural disasters or severe weather conditions; the availability and cost of finished lots and undeveloped land; the success of our strategy to offer and market entry-level and first move-up homes; a change to the feasibility of projects under option or contract that could result in the write-down or write-off of earnest or option deposits; our limited geographic diversification; the replication of our energy-efficient technologies by our competitors; shortages in the availability and cost of subcontract labor; our exposure to information technology failures and security breaches and the impact thereof; the loss of key personnel; changes in tax laws that adversely impact us or our homebuyers; our inability to prevail on contested tax positions; failure to comply with laws and regulations; our compliance with government regulations; negative publicity that affects our reputation; potential disruptions to our business by an epidemic or pandemic (such as COVID-19), and measures that federal, state and local governments and/or health authorities implement to address it; and other factors identified in documents filed by the Company with the Securities and Exchange Commission, including those set forth in our Form 10-K for the year ended December 31, 2020 and our Form 10-Q for the quarter ended June 30, 2021 under the caption "Risk Factors," which can be found on our website at https://investors.meritagehomes.com.

2

Management Representatives

Steven J. Hilton - Executive Chairman

Phillippe Lord - CEO

Hilla Sferruzza - EVP & Chief Financial Officer

Emily Tadano - VP Investor Relations

3

3Q21 Milestones

  • Received 2021 EPA's Indoor airPLUS Leader Award
  • Launched no-contact,after-hoursself-guided tours of model homes
  • Expanded digital financial services with on-demand homeowners' insurance quotes
  • Memorialized our human rights policy

4

Solid Performance In Both Entry-Level And First Move-Up

Average community count by

product type

252

221

231

34

19

6

46

70

Other

112

1MU

179

Entry Level

132

106

77%

42%

60%

3Q19

3Q20

3Q21

Orders by product

type

2,258

3,851

3,441

187

217

47

990

520

853

2,874

2,644

1,21884%

69%

54%

3Q19 3Q20 3Q21

Absorptions per month

& Y/Y%

94%

35%

5.8

5.8

9%

5.5

87%

87%

5.3

42%

87%

-15%

5.0

3Q20

4Q20

1Q21

2Q21

3Q21

5

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Meritage Homes Corporation published this content on 28 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 October 2021 14:42:08 UTC.