Meritage Homes Investor Presentation — October 2018

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Analyst Conference Call

October 25, 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 expectation for entry -level demand and its intention to repurchase

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,

except as required by law. Meritage's business is subject to a number of risks and uncertainties. As a result of those risks anduncertainties, the

Company's stock and note prices may fluctuate dramatically. These risks and uncertainties include, but are not limited to, th e following: the availability

and cost of finished lots and undeveloped land; shortages in the availability and cost of labor; changes in interest rates an d the availability and pricing

of residential mortgages; changes in tax laws that adversely impact us or our homebuyers; inflation in the cost of materials used to develop

communities and construct homes; the success of strategic initiatives; the ability of our potential buyers to sell their exis ting homes; cancellation rates;

the adverse effect of slow absorption rates; slowing in the growth of entry -level home buyers; competition; impairments of our r eal estate inventory; a

change to the feasibility of projects under option or contract that could result in the write -down or write -off of earnest or op tion deposits; our potential

exposure to and impacts from natural disasters or severe weather conditions; home warranty and construction defect claims; fa ilures 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 diversificat ion; fluctuations in quarterly

operating results; our level of indebtedness; our ability to obtain financing if our credit ratings are downgraded; our abili ty to successfully integrate

acquired companies and achieve anticipated benefits from these acquisitions; our compliance with government regulations, the effect of legislative and