#1M/I Homes, Inc. May 2021 ሐ M/I HOMES#22 Forward Looking Statements Certain statements in this Presentation are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "expects," "anticipates," "envisions," "targets," "goals," "projects,” "intends," "plans,” “believes,” “seeks," "estimates," variations of such words and similar expressions are intended to identify such forward-looking statements. These statements involve a number of risks and uncertainties. Any forward- looking statements that we make herein and in any future reports and statements are not guarantees of future performance, and actual results may differ materially from those in such forward-looking statements as a result of various factors, including, without limitation, factors relating to the economic environment, interest rates, availability of resources, competition, market concentration, land development activities, construction defect, product liability and warranty claims and various governmental rules and regulations, as more fully discussed in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended December 31, 2020, as the same may be updated from time to time in our subsequent flings with the Securities and Exchange Commission. All forward-looking statements made in this Presentation are made as of the date hereof, and the risk that actual results will differ materially from expectations expressed in this Presentation will increase with the passage of time. The Company undertake no duty to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. However, any further disclosures made on related subjects in our subsequent filings, releases or presentations should be consulted. Non-GAAP Financial Measures: This Presentation contains information about our adjusted housing gross margin, adjusted income before income taxes (or “adjusted pretax income") and adjusted EBITDA, each of which constitutes a non-GAAP financial measure. A reconciliation of these non-GAAP financial measures with the relevant financial metrics calculated in accordance with GAAP is provided in the Appendix. These non-GAAP financial measures should be used to supplement our GAAP results in order to provide a greater understanding of the factors and trends affecting our operations. We believe adjusted housing gross margin, adjusted income before income taxes, and adjusted EBITDA are relevant and useful financial measures to investors in evaluating our operating performance and allow investors to make appropriate comparisons with our competitors. M/I HOMES#33 M/I Homes - Overview One of the nation's leading homebuilders - #13 on BUILDER 100 Founded in 1976; went public in 1993 7,709 homes delivered and $3.0B of total revenue in 2020 • Minneapolis/St. Paul 14% annual growth in new contracts since 2008 $310M of pre-tax income in 2020 (+87%) Selling in 187 communities in 15 markets (at 3/31/2021) Diversified customer base including first-time and move-up buyers; emphasizing affordable home designs ROE of 22% in 2020 ⚫ Chicago Indianapolis. Austin⚫ Dallas/Ft. Worth ⚫ Houston ⚫ San Antonio - Detroit • Columbus Cincinnati Raleigh • Charlotte - Orlando Tampa Sarasota M/I HOMES#44 M/I Homes - Key Strategies Scale and Market Share Diversified geographic footprint across 15 markets in 10 states ◆ Meaningful presence -top 5 builder in 7 markets; top 10 builder in 11 markets Opportunistically adding new markets - Minneapolis, Sarasota, and Detroit since 2015 Opportunistic Land Strategy Lower-risk land acquisition strategy Focus on premier locations • 5.1 years supply of lots controlled with 2.0 years of lots owned M/I Difference - Core Values Focus on quality; build a better home "Treat our customers right" Operate with integrity and high standards Promoting diversity, equity, and inclusion in the workplace ✓ Financial Strength Continued operating momentum • Strong balance sheet with conservative leverage M/I HOMES#55 Focus on Affordability Great Success With Our Smart Series Affordable product primarily designed for first-time buyers Launched in Tampa in late 2016 61 communities open at 3/31/2021 35% of Q1 sales ASP of $335,000 Currently in all 15 markets. Additional communities opening in 2021 M/I HOMES#6M/I Financial Services Provides mortgage and title operations Almost exclusively services M/I homebuyers - provides competitive advantage In operation since 1983; excellent management team Pretax income of $19.7M in Q1 2021; $29.6M revenues 84%+ capture rate in Q1 2021 Q1 2021 Credit Score Q1 2021 Product Mix 680 or Less 11% 681 - 719 16% 720 and Higher 73% 6 Average Credit Score: 746 Average Down Payment: 16.5% CONV 77.9% FHA 12.4% VA 9.3% Other 0.4% M/I HOMES#7Strong Presence in Our Markets Top 10 Position in 11 markets Top 5 Position in 7 markets Market Ranking Year Opened Northern: Columbus, OH #1 1976 Cincinnati, OH #3 1988 Indianapolis, IN #5 1988 Chicago, IL #3 2007 Minn/St. Paul, MN #2 2015 Detroit, MI #3 2018 Southern: Charlotte, NC #7 1985 Raleigh, NC #11 1986 Tampa, FL #3 1981 Orlando, FL #7 1984 Sarasota, FL #6 2016 Houston, TX #24 2010 San Antonio, TX #10 2011 Austin, TX #12 2012 Dallas, TX #19 2013 7 Source: Based on LTM or YTD permits, sales, or closings as of 12/31/2020 from individual market data sources M/I HOMES#88 M/I Homes Markets Minneapolis/St. Paul, MN Chicago, IL Charlotte, NC Dallas/Fort Worth, TX Austin, TX Detroit, MI Indianapolis, IN Columbus, OH Orlando, FL Cincinnati, OH Raleigh, NC Tampa, FL Houston, TX San Antonio, TX Sarasota, FL M/I HOMES#96 50,000 45,000 M/I Markets - Single Family Permits & Job Growth 2020 SF Permits 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000 0 Houston Dallas/FW Austin Charlotte Tampa Source: John Burns RE Consulting Orlando Raleigh San Antonio Minneapolis Sarasota Indianapolis Columbus Cincinnati Chicago Detroit 1.0% 0.0% -1.0% -2.0% -3.0% -4.0% -5.0% -6.0% -7.0% -8.0% -9.0% -10.0% Austin 2020 Job Growth Dallas Tampa Raleigh Source: John Burns RE Consulting Charlotte San Antonio Columbus Indianapolis Sarasota Houston Cincinnati Minneapolis Chicago Orlando Detroit M/I HOMES#100.0 0.2 0.4 0.6 0.8 1.2 Housing Market Conditions Strong recovery in new home sales and SF starts beginning in late April 2020 New home sales of 811,000 in 2020 - up 18% from 2019 SF starts increased 12% to 991,000 in 2020 and SAAR was up 41% Y/Y in March 2021 US New Single-Family Home Sales Millions 1.4 1.0 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 10 Note: SF permits and starts are higher because they include custom homes built by the land owner for their own use. *Cur. mo. SA = Current month (seasonally adjusted annual rate) Source: Census Bureau, John Bums Real Estate Consulting, LLC forecasts (Data: Dec-20, Pub: Feb-21) 1999 2000 2001 2002 2003 2004 2005 2006 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Cur. mo. SA* 842K (SAAR) 2021P 910K 2022P 1030K 2023P 1150K 2024P 1275K 2007 2008 M/I HOMES#1111 Percent Housing Market Conditions 5.0 4.5 4.0 3.5 3.0 2.5 30-Year Fixed Mortgage Rates 2016-07 2017-01 2017-07 2018-01 2018-07 2019-01 2019-07 2020-01 2020-07 2021-01 Source: Freddie Mac M/I HOMES#1212 Homeownership Rate Percent 70 69 68 67 66 65 ठ 64 лит лит U.S. Homeownership Rate 62 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020 Source: Freddie Mac M/I HOMES#1313 Historical Financial Summary $ in millions Homes Delivered Total Revenue 7,709 6,296 5,778 5,089 4,482 $3,046 $2,500 $2,286 $1,962 $1,691 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 $ in millions EBITDA $240 $210 $185 $148 $ in millions Shareholders Equity $383 $1,259 $1,003 $855 $747 $654 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 Note: Fiscal years ended December 31; Total Revenue includes Homebuilding revenue and Financial Services revenue M/I HOMES#142020 Highlights All-time records for homes delivered, revenue, and pre-tax income Very strong margins Financial Performance ($M, except ASP and EPS) 14 Twelve Months Ended YOY 12/31/2020 12/31/2019 % change New contracts 9,427 6,773 +39% Avg. active communities 215 218 (1)% Homes delivered 7,709 6,296 +22% Average sales price ($000s) $381 $384 (1)% Homebuilding revenue Total revenue $2,959 $2,445 +21% $3,046 $2,500 +22% Gross margin (%) 22.2% 19.6% Pre-tax income $310.0 $166.0 +87% Pre-tax margin (%) 10.2% 6.6% Earnings per share Basic Diluted $8.38 $4.58 +83% $8.23 $4.48 +84% M/I HOMES#1515 Q1 2021 Highlights All-time quarterly records for new contracts and pre-tax income First quarter records for homes delivered and revenue Financial Performance ($M, except ASP and EPS) Three Months Ended YOY 3/31/2021 3/31/2020 % change New contracts 3,109 2,089 +49% Avg. active communities 195 224 (13)% Homes delivered 2,019 1,495 +35% Average sales price ($000s) $395 $374 +6% Homebuilding revenue $799 $564 +42% Total revenue $829 $578 +43% Gross margin (%) 24.4% 20.2% Pre-tax income $110.3 $41.4 +167% Pre-tax margin (%) 13.3% 7.2% Earnings per share Basic Diluted $2.92 $1.11 +163% $2.85 $1.09 +161% M/I HOMES#16Net Contracts - Growth +20% +17% YoY growth %: 1,739 1,631 +6% (4)% 1,302 1,173 16 14% CAGR (2008 - 2020) +49% +71% 3,109 2,949 +31% +27% +27% 2,261 2,128 2,089 +6% +32% +43% (6)% 1,731 1,721 1,644 1,677 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 M/I HOMES#17Managing Growth Average Active Communities 183 205 218 215 2017 2018 2019 2020 Absorption 2.4 2.4 2.6 3.7 Rate $552 $529 Land Spending ($M) $600 $733 2017 2018 17 2019 2020 M/I HOMES#1818 ROE 26% 25% 24% 22% 22% 20% 18% 16% 14% 14% 13% 12% 10% 10% 9% 9% 8% 6% 4% 2% 0% 2015 2016 2017 2018 2019 2020 3/31/2021 M/I HOMES#19LTM Return on Equity 10% 11% 15% 13% 13% 18% 25% 24% 23% 22% 22% 27% T TOL TMHC KBH BZH TPH LEN MTH MDC CCS PHM MHO DHI 19 Source: Company Filings, as of 5/5/2021; based on most recently reported quarter-end M/I HOMES#20Contract Backlog - Q1 6,000 # Homes 5,479 5,500 5,000 4,500 4,000 3,500 3,265 3,000 2,744 2,652 2,500 2,220 2,000 1,500 1,000 500 0 2017 2018 2019 2020 2021 Fiscal quarters ending March 31 20 20 M/I HOMES#21Adjusted Gross Margin - Quarterly 25% 20% 15% 21.3% 24.1% 24.4% 10% Q1-2017 Q2-2017 Q3-2017 Q4-2017 21.4% 21.4% 19.8% 20.6% 20.0% Q1-2018 Q2-2018 Q3-2018 Q4 2018 Q1 2019 20.5% 18.9% 19.3% 19.2% 20.6% 19.9% 20.2% 21.9% Q2 2019 Q3-2019 Includes financial services revenues and interest in cost of sales; adjusted gross margin excludes impairment, stucco charges and purchase accounting charges - see Appendix. M/I HOMES Q4-2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 22.9% 21 21#22SG&A %- Improving Operating Leverage 14.0% 13.5% 13.2% 12.9% 13.0% 22 22 12.0% 11.0% 12.2% 11.0% 13.2% 12.6% 11.8% 11.5% 13.1% 12.7% 12.2% 11.6% 12.3% 11.7%11.7% 11.1% 10.0% 2017 2018 2019 2020 2021 Q1 2017 2018 2019 2020 Q2 2017 2018 2019 2020 Q3 2017 2018 2019 2020 Q4 15.0% 14.5% 14.0% 14.0% 13.5% 13.0% 13.0% 13.0% 13.3% 12.5% 12.0% 12.1% 12.3% 11.7% 11.5% 2014 2015 2016 2017 2018 2019 2020 M/I HOMES#2323 Well-managed Land Position - Premier Locations Owned and Optioned Lots 3/31/2021 Geographic Breakdown Total Lots Controlled - 3/31/2021 Optioned 60% Owned 40% Southern 65% Owned & Optioned Lots - 5.1 Years Lot Supply – Controlled 2.0 Years Lot Supply - Owned * # Lots in Thousands 28.5 Northern 35% 42.0 39.5 33.2 28.7 22.7 25.2 18.6 16.9 14.7 14.0 14.6 16.8 16.8 11.6 12/31/17 12/31/18 12/31/19 Owned 12/31/20 03/31/21 Optioned * Based on home closings for trailing four quarters. M/I HOMES#24Lower Risk Land Strategy 10.0 Less than half of controlled lots are owned # Years Supply ■Owned 24 14 8.0 Optioned 6.2 6.1 6.0 5.8 5.5 5.2 4.9 4.8 2.9 3.1 2.6 2.1 4.0 4.5 4.1 4.0 2.0 3.6 1.4 3.9 3.1 1.7 2.7 2.7 2.4 2.3 0.8 1.2 2.0 3.3 3.0 3.2 3.4 2.9 3.1 2.4 1.7 1.9 1.3 1.6 1.3 1.5 0.0 TOL PHM LEN TPH DHI KBH CCS TMHC MTH MHO HOV MDC BZH Source: Company Filings, as of May 5, 2021; based on most recently reported quarter-end and TTM sales contracts M/I HOMES#2525 Leverage vs. Peers Homebuilding Debt/Capitalization 43% 44% 39% 40% 37% 32% 29% 22% 23% 24% 64% DHI PHM LEN MTH MHO TPH KBH CCS TOL TMHC BZH Debt/LTM EBITDA 2.0X 2.2X 2.3X 1.4X 1.5X 1.5X 1.0X 0.6X 5.0X 3.8X 3.8X DHI PHM MTH MHO LEN CCS MDC TPH TMHC TOL BZH Source: Company Filings, as of May 5, 2021; based on most recently reported quarter-end M/I HOMES#26Capital Structure 26 ($ in millions) 3/31/2021 12/31/2020 12/31/2019 Total Cash and Equivalents $ 292.9 $ 260.8 $ 6.1 Credit Facility $ 66.0 Senior Notes $ 642.5 $ 642.2 546.1 Other Notes Payable $ 2.5 $ 4.1 $ 5.8 Total Homebuilding Debt $ ՆՌ 645.0 $ 646.3 $ 617.9 MIF Mortgage Credit Facilities ՄՌ $ 176.2 $ 225.6 $ 136.9 Shareholders Equity $ 1,353.4 $ 1,258.7 $ 1,003.5 Total Capitalization $ 2,174.6 $ 2,130.6 $ 1,758.3 Net Homebuilding Debt / Capitalization Homebuilding Debt/ Capitalization 20.6 % 32.3 % 23.4 % 37.9 % 33.9 % 38.1 % Note: Debt figures are based on the stated carrying values per the 3/31/2021, 12/31/2020 and 12/31/2019 balance sheets, respectively, which are net of any debt issuance costs that are amortized over the respective term of the notes. M/I HOMES#27Debt Maturities ($ in millions) $600 $500 $400 $300 $200 $475 $250 $100 $0 2021 2022 2023 2024 2025 2026 Revolving Credit Facility 5.625% Senior Notes due 2025 4.95% Senior Notes due 2028 27 • Revolving credit facility is a commitment up to $500M with $475M having a maturity of July 2023 and $25M maturing in July 2021; no borrowings outstanding at 3/31/2021 . Excludes MIF warehouse credit facilities which are non-recourse to M/I Homes, Inc. $400 2027 2028 M/I HOMES#2828 Rating Agencies S&P: Upgraded Corporate Rating - February 2021 Moody's: Upgraded Ratings - December 2020 - Fitch: Upgraded Ratings – May 2021 S&P Moodys Fitch Corporate Rating BB- Ba3 BB Senior Note Ratings BB- Ba3 BB M/I HOMES#2929 Moving Forward - M/I Homes Well positioned with healthy balance sheet, geographic diversity, and broad product capabilities Strong performance in 2020; ROE of 22% and 84% increase in EPS. 2021 Q1 momentum with contracts up 49% and backlog up 68% Continued successful roll-out of Smart Series Focus on customer service and quality M/I HOMES#30Appendix ሐ M/I HOMES#3131 Non-GAAP Financial Results / Reconciliation ($000) Total revenue Gross margin Add: Impairment Add: Purchase accounting adjustments Add: Stucco-related charges Adjusted gross margin Gross margin percentage Adjusted gross margin percentage Income before income taxes Add: Impairment Add: Purchase accounting adjustments Add: Stucco-related charges Three Months Ended March 31, 2021 2020 $ 828,776 $ 577,603 Twelve months ended December 31, 2020 $3,046,145 2019 $2,500,290 $ 202,191 $ 116,679 $ 676,343 $ 489,427 8,435 5,002 639 860 $ 202,191 $ 116,679 $ 685,638 $ 495,068 24.4 % 24.4 % 20.2% 20.2 % 22.2 % 19.6 % 22.5 % 19.8 % $ 110,281 $ 41,356 $ 310,043 $ 166,025 8,435 - 5,002 639 860 Adjusted income before income taxes $ 110,281 $ 41,356 $ 319,338 $ 171,666 ($000) Net income Add: Provision for income taxes Interest expense net of interest income Interest amortized to cost of sales Depreciation and amortization Non-cash charges Adjusted EBITDA Three Months Ended Twelve months ended March 31, December 31, 2021 2020 2020 2019 $ 84,866 $ 31,746 $ 239,874 $ 127,587 25,415 9,610 70,169 38,438 275 3,888 6,168 17,515 8,205 6,570 32,686 29,411 4,110 4,224 17,578 15,950 2,102 2,923 16,685 10,848 $ 124,973 $ 58,961 $ 383,160 $ 239,749 M/I HOMES#32M/I HOMES