Meritage Homes Investor Presentation — May 2019

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J.P. Morgan Homebuilding

& Building Products Conference

May 15, 2019Forward -Looking Statements

2This presentation, along with the accompanying press release and comments during our analyst call contain forward-looking statem ents within the meaning of

the Private Securities Litigation Reform Act of 1995. Such statements include management's projected home closings, home clos ingrevenue, home closing

gross margin, overhead leverage 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: changes in interest rat es and the availability and pricing of

residential mortgages; legislation related to tariffs; the availability and cost of finished lots and undeveloped land; short ages in the availability and cost of labor;

the success of strategic initiatives; the ability of our potential buyers to sell their existing homes; inflation in the cost ofmaterials used to develop communities

and construct homes; the adverse effect of slow absorption rates; impairments of our real estate inventory; cancellation rates; competition; changes in tax laws

that adversely impact us or our homebuyers; a change to the feasibility of projects under option or contract that could resul t 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 w arranty and construction defect

claims; failures in health and safety performance; our success in prevailing on contested tax positions; our ability to obtai n performance and surety bonds in

connection with our development work; the loss of key personnel; failure to comply with laws and regulations; our limited geogra phic diversification;

fluctuations in quarterly operating 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 gover nment regulations, the effect of