Meritage Homes CORP

• Selling, general and administrative expenses ("SG&A") as a percentage of third quarter 2026 home closing revenue were 11.0% compared to 10.8% in the third quarter of 2025, as a result of lost leverage on lower home closing revenue and higher technology costs, which were partially offset by an intentional pull back in discretionary expenses and decreased performance-based compensation expense.

• The third quarter effective income tax rate was 20.1% in 2026 compared to 22.6% in 2025. The 2026 tax rate reflected acquired below-market transferable clean fuel production tax credits.

YEAR TO DATE RESULTS

• Total sales orders for the first nine months of 2026 decreased 10% year-over-year, reflecting a 20% decrease in average absorption pace partially offset by a 12% increase in average communities compared to the first nine months of 2025. The 3% lower ASP on orders for the first nine months of 2026 compared to prior year was primarily due to higher utilization of incentives and related costs including rate buy-downs, as well as geographic mix.

• SG&A as a percentage of home closing revenue was 11.0% in the first nine months of 2026 compared to 10.7% in the prior year, as a result of lost leverage on lower home closing revenue and higher technology costs, which were partially offset by an intentional pull back in discretionary expenses and decreased performance-based compensation expense.

• The effective income tax rate in the first nine months of 2026 was 23.1% compared to 23.4% in 2025.

BALANCE SHEET & LIQUIDITY

• Land acquisition and development spend, net of land development reimbursements, totaled $329 million and $528 million for the third quarter of 2026 and 2025, respectively.

• Approximately 71,800 lots were owned or controlled as of September 30, 2026, compared to approximately 80,800 lots as of September 30, 2025. Nearly 2,000 net new lots were added in the third quarter of 2026, representing an estimated 21 future communities.

• Third quarter 2026 ending community count of 348 was up 4% compared to prior year and up 2% sequentially from the second quarter of 2026.

• The Company declared and paid quarterly cash dividends of $0.48 per share totaling $31 million in the third quarter of 2026. This compared to $0.43 per share totaling $30 million in the third quarter of 2025. Year-to-date dividends paid were $94 million and $92 million in 2026 and 2025, respectively.

CONFERENCE CALL Management will host a conference call to discuss its third quarter 2026 results at 8:00 a.m. Pacific Time (11:00 a.m. Eastern Time) on Thursday, October 29, 2026. To listen, please go to Meritage's Investor Relations page for the live webcast or dial in to 1-800-445-7795 US toll free or 1-785-424-1699. A replay will be available on the Investor Relations page.

Meritage Homes Corporation and Subsidiaries