LandSea Homes Investor Presentation

13 FAVORABLE DYNAMICS ENTRY-LEVEL AND FIRST MOVE-UP HOMES Millennials The largest generation in the U.S. labor force (35%)¹ Have become the largest cohort of homebuyers at 37% of all homebuyers² From 2014 to 2018, U.S. household formations averaged 1.3m/year as compared to -740k from 2007 to 20134 Urgency & Convenience More homebuyers are entering the market due to COVID-related reasons, including better mortgage rates/prices, disliking home layout or needing a larger home Most recent buyers who purchased new homes were looking to avoid renovations and looked for customization ¹ 9% of Buyers Nationally Are Expediting Purchases from Their Shelter-in-Place Experiences³ 17% Northern Cal 11% Florida 11% Southeast 11% Texas 9% National 8% Midwest 7% Northwest 6% Southern Cal 6% Northeast 5% Southwest 51% of Builders Selling to First-Time Buyers Note Increased Buyer Urgency³ First-Time 12% Move-Up 5% Luxury 2% 13% Active Adult 4% 14% Empty Nester 11% 35% Source: National Association of Realtors, Pew Research, John Burns Real Estate Consulting survey, Federal Reserve of St. Louis Notes: 1) Pew Research 2) As of 8/16/2019 3) John Burns Real Estate Consulting - Independent survey data as of May 2020 4) Federal Reserve Household Estimates as of July 2020. 39% 20% 23% 35% 23% Significantly increased urgency No change Significantly decreased urgency 19% 38% 43% 20% 10% 26% 46% 27% 10% 23% Somewhat increased urgency Somewhat decreased urgency LANDSEAⓇ® HOMES Live in your element®

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