Managing Growth and 2020 Highlights

31 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

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