Meritage Homes Investor Presentation — July 2020

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Analyst Conference Call

July 23, 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 statements regarding the health of the housing market and the potential adverse

impacts of the COVID -19 pandemic, and projected third quarter and full year 2020 home closings and revenue, gross margins, SG&A expenses, tax rates and

diluted earnings per share.

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: disruptions to our busi ness by Covid -19, fear of a similar event,

and measures implemented by federal, state and local governments or health authorities to address it; the availability and cost of finished 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

our homebuyers; 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

potential exposure to and impacts from natural disasters or severe weather conditions; home warranty and construction defect claims; failures in health and

safety performance; our success in prevailing on contested tax positions; our ability to obtain performance and surety bonds in connection with our development

work; the loss of key personnel; failure to comply with laws and regulations; our limited geographic diversification; fluctuatio ns in quarterly operating results; our