Meritage Homes Corporation Completes $500 Million Senior Notes Offering
Scottsdale, AZ (March 6, 2025) – Meritage Homes Corporation (NYSE: MTH) announced today that it has successfully completed a public offering of $500 million aggregate principal amount of 5.650% Senior Notes due 2035.

The net proceeds of approximately $493.4 million (before expenses) will be used for general corporate purposes.

Key Terms of the Senior Notes
Interest Rate: 5.650% per annum
Payment Schedule: Semi-annual payments due on March 15 and September 15, beginning September 15, 2025
Maturity Date: March 15, 2035
Guarantors: The Notes are unconditionally guaranteed on a senior unsecured basis by the Company’s subsidiaries
Optional Redemption Terms
Before December 15, 2034 (Par Call Date):
Redemption price will be the greater of:
Present value of remaining payments (discounted at the Treasury Rate + 25 basis points)
100% of the principal amount
Accrued interest will also be paid.
On or after December 15, 2034:
Redeemable at 100% of the principal amount plus accrued interest.
Covenants and Security
The Indenture contains restrictions on secured debt, sale-leaseback transactions, and mergers or asset sales.

In the event of both a Change of Control and a Rating Decline, holders may require the Company to repurchase the Notes at 101% of the principal amount plus accrued interest.

Ranking and Security
The Notes are unsecured senior obligations of Meritage Homes Corporation.
They rank equally with the Company’s existing senior and convertible senior notes and revolving credit facility.
They are senior to any subordinated debt.
Underwriting and Legal Counsel
The offering was underwritten by J.P. Morgan Securities LLC, BofA Securities, Inc., Goldman Sachs & Co. LLC, and Mizuho Securities USA LLC.

Legal counsel was provided by Snell & Wilmer L.L.P. (Phoenix, Arizona) and Venable LLP (Baltimore, Maryland).