Homebuilding Industry Outlook

• • kb Deferred Tax Asset Value and Protection HOME At Aug. 31, 2022, KB Home had net deferred tax assets (DTA) of approximately $156 million To support the realization of the DTA, KB Home has undertaken a number of steps to avoid experiencing an "ownership change" under federal tax laws The primary protection is a Rights Agreement approved by stockholders in 2009, 2018 and 2021 (which extended the latest expiration to Apr. 30, 2024). The Rights Agreement provides authority for the distribution of dilutive stock purchase rights in connection with an acquisition of 4.9% or more of KB Home's outstanding common stock. At Aug. 31, 2022, there were 85.6 million shares of common stock outstanding 31 | ©2022 KB Home

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