Meritage Homes Investor Presentation — February 2018

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Analyst Conference Call

February 1, 2018Forward -Looking Statements

2This presentation and the accompanying comments during our analyst call contain forward -looking statements within the meaning of the Private

Securities Litigation Reform Act of 1995. Such statements include management's belief about expected performance in the Compa ny's East region,

first quarter trends in revenue, margin and overhead leverage, as well as its expected 2018 home closings, home closing reven ue,pre-tax earnings,

gross margins and effective tax rate.

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. Th e Company makes no

commitment, and disclaims any duty, to update or revise any forward -looking statements to reflect future events or changes in th ese expectations.

Meritage's business is subject to a number of risks and uncertainties. As a result of those risks and uncertainties, the Comp any's stock and note prices

may fluctuate dramatically. These risks and uncertainties include, but are not limited to, the following: potential adverse i mpacts on our Houston and

Florida sales, closings, revenue and costs due to Hurricanes Harvey and Irma; growth in first -time home buyers; the availability and cost of finished

lots and undeveloped land; changes in interest rates and the availability and pricing of residential mortgages; the success o f strategic initiatives;

shortages in the availability and cost of labor; changes in tax laws that adversely impact us or our homebuyers; the ability of our potential buyers to sell

their existing homes; cancellation rates; inflation in the cost of materials used to develop communities and construct homes; the adverse effect of

slower absorption (order) rates; impairments of our real estate inventory; a change to the feasibility of projects under opti on or contract that could result

in the write -down or write -off of earnest or option deposits; our potential exposure to and impacts from natural disasters or se vere weather conditions;

competition; construction defect and home warranty claims; failures in health and safety performance; our success in prevaili ng on contested tax

positions; our ability to obtain performance and surety bonds in connection with our development work; the loss of key person nel; enactment of new

laws or regulations or our failure to comply with regulations; our limited geographic diversification; fluctuations in quarte rlyoperating results; our level of