LandSea Homes Investor Presentation

25 CAPITAL STRUCTURE WITH ROBUST LIQUIDITY Landsea has a conservative net debt-to-net book capitalization ratio and strong liquidity position with $204m of pro forma cash¹ $324m Total Debt $121m Pro Forma Net Debt $80m Cash 16.1% Pro Forma Net Debt/ Net Book Cap $124m Net Proceeds from Merger Conservative Capitalization Relative to Peers Median: 31.9% 16.1% 20.4% 23.2% Landsea Meritage MDC Homes¹ Homes 30.2% TRI Pointe Homes Significant Financial Flexibility to Execute Our Strategy 33.6% 44.9% 47.5% M/I Century Taylor Homes Communities Morrison Source: Landsea Homes Management, company filings as of August 26, 2020 Note: 1) Based on June 2020 balance sheet and pro forma for transaction assuming no redemptions, exercise of warrants, or amendment to the terms of the public warrants. LANDSEAⓇ® HOMES Live in your elementⓇ

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