Meritage Homes Investor Presentation — April 2020

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Analyst Conference Call

April 29, 2020Forward -Looking Statements

2The 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 management's projected full year 2020 home clos ings, home closing revenue,

home closing gross margin and tax rate, as well as expectations regarding new community openings, the U.S. economy and housing m arket.

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, to update or revise any forward- looking statements to reflect future events or changes in these expectations , except as required by law.

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: adverse impacts due to the COVID -19 pandemic, including a

recession in the U.S., the impact of legislation designed to provide economic relief from a recession, the inability of employee s to work and of customers to visit

our communities due to government movement restrictions or illness, disruptions in our supply chain, our inability to access capital markets due to lack of

liquidity in the economy resulting from the responses to the COVID -19 pandemic, inconsistencies or changes in the classification of homebuilding as an

essential business and/or critical infrastructure, the availability of mortgages due to reactions by regulators, investors and l enders, the shutdown of or delay in

governmental services (i.e. approvals, permits, inspections), and enhanced governmental regulation; the availability and cost offinished lots and undeveloped

land; shortages in the availability and cost of labor; the success of our strategic initiatives to focus on the first -and second -move -up buyer; the ability of our

potential buyers to sell their existing homes; changes in interest rates and the availability and pricing of residential mort gages; our exposure to information

technology failures and security breaches; legislation related to tariffs; inflation in the cost of materials used to develop communities and construct homes; the

adverse effect of slow absorption rates; impairments of our real estate inventory; cancellation rates; competition; changes i n tax laws that adversely impact us or