M/I Homes (MHO) investor relations material

Business profile and strategy

• Founded in 1976; 2026 marks 50 years in business, with 8,662 homes delivered and $4.2B revenue for LTM 9/30/26.

• Selling in 246 communities across 17 markets as of 9/30/26; ranked among the top five builders in 8 markets and top 10 in 12.

• Strategy emphasizes premier locations, customer service, quality, a balanced land position, conservative leverage, affordability, profitability and returns.

• Smart Series accounted for 50% of Q3'26 sales, with an ASP of $380,000; products include single-family homes and townhouses.

Q3 2026 performance

• Q3 new contracts were 1,861, down 2% YoY; homes delivered were 2,241, down 2%, and ASP was $460,000, down 4%.

• Q3 revenue was $1.076B, down 5% YoY; gross margin was 20.9% versus 23.9%, SG&A was 13.1% versus 11.9%, and pretax income was $87M, down 38%.

• Q3 diluted EPS was $2.56 versus $3.92; nine-month revenue was $3.060B, down 6%, and pretax income was $281M, down 37%.

• Nine-month contracts rose 5% YoY to 6,598; deliveries fell 4% to 6,361, ASP fell 4% to $459,000, and diluted EPS was $8.14 versus $12.32.

• Q4'25 gross margin was 22.6% excluding $40M of inventory charges and $11M of warranty charges; reported quarterly gross margin was 20.9% in Q3'26.

Land and operating footprint

• Average active communities were 240 in Q3'26, up 3% YoY; average communities were 236 at 9/30/26 versus 229 in 2024 and 216 in 2025.

• Controlled lots totaled 48.9K at 9/30/26; 48% were owned and 52% optioned, with 41% in the Northern region and 59% in the Southern region.

• Controlled lots represented 5.6 years of supply and owned lots 2.7 years, based on trailing-four-quarter home closings.

• Land spend was $759M YTD 9/30/26 versus $1,169M in 2025 and $1,119M in 2024; sales pace was 3.0 in 2026, compared with 3.3 in 2025 and 3.1 in 2024.