Meritage Homes Investor Presentation — July 2018

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Analyst Conference Call

July 26, 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 projected home closings, home closing revenue, home closing gross

margin and pre -tax earnings for the full year 2018, as well as management's intentions to repurchase shares.

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: the availability an d cost of finished lots and

undeveloped land; shortages in the availability and cost of labor; changes in interest rates and the availability and pricing ofresidential mortgages;

changes in tax laws that adversely impact us or our homebuyers; inflation in the cost of materials used to develop communitie s and construct homes;

the success of strategic initiatives; the ability of our potential buyers to sell their existing homes; cancellation rates; t he adverse effect of slow

absorption rates; slowing in the growth of entry -level home buyers; competition; impairments of our real estate inventory; a cha nge 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 potential exposure to and impacts

from natural disasters or severe weather conditions; home warranty and construction defect claims; failures in health and saf etyperformance; our

success in prevailing on contested tax positions; our ability to obtain performance and surety bonds in connection with our d evelopment work; the loss

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

of indebtedness; our ability to obtain financing if our credit ratings are downgraded; our ability to successfully integrate acquired companies and

achieve anticipated benefits from these acquisitions; our compliance with government regulations, the effect of legislative a nd other governmental