PulteGroup, Inc. · NYSE:PHM
PulteGroup — Investor Presentation (December 2025)
33 slides from PulteGroup's investor presentation, December 2025
Slide 1: Investor Presentation December 2025
INVESTOR PRESENTATION December 2025 2025 INVESTOR PRESENTATION 1
Slide 2: Forward-looking Statements
Forward-looking Statements This presentation includes “forward-looking statements.” These statements are subject to a number of risks, uncertainties and other factors that could cause our actual results, performance, prospects or opportunities, as well as those of the markets we serve or intend to s
Slide 3: Introduction
Introduction 2025 INVESTOR PRESENTATION 3
Slide 4: Why Invest with PulteGroup
Why Invest with PulteGroup Industry Leader: Diversified business platform, resilient 1 operating model, and experienced leadership team focused on generating top-tier, through-cycle returns Profitable Growth: Competitively advantaged through 2 local-market scale, rigorous underwriting processes, and
Slide 5: Pulte Consistently Generates Outstanding Returns
Pulte Consistently Generates Outstanding Returns… Consistent cash flow Business Model Disciplined growth fuels reinvestment for delivers superior balanced across growth with excess operating margins attractive markets returned to shareholders Top Quartile ROE Relative to S&P 5001 TTM Ended 9/30/25 K
Slide 6: …and is a Premier National Homebuilder
…and is a Premier National Homebuilder TTM Ended 9/30/25 Key Figures HQ: Atlanta, GA Active Communities: 968 Total History Homes Built: 875K Revenue: $17.0B Employees Nationally: ~6,700 States Served: 26 TTM Home Deliveries: ~30K Home Sales GM: 27.0% Founded: 1950 Markets Served: 47 ASP: $569K TTM R
Slide 7: Strategic Priorities Aligned with Delivering High Through-cycle ROE
Strategic Priorities Aligned with Delivering High Through-cycle ROE Relentless Focus on Returns Driving operational gains and asset efficiency in support of high returns over the housing cycle Profitable Operational Disciplined Capital World-class Growth Excellence Allocation Culture Optimize local
Slide 8: Broad Benefits of Strategic Business Transformation
Broad Benefits of Strategic Business Transformation Pulte has structurally raised the bar while generating higher risk-adjusted returns and cash flow More Cash More Optioned Lower Higher Higher Positive Returned to Land Than Owned Debt Margins ROE Cash Flow Shareholders % of Lots Debt-to-Capital Hom
Slide 9: Focused and Aligned Leadership
Employer of Choice Focused and Aligned Leadership Executive Team Ryan Marshall Kevin Henry Matt Koart Jim Ossowski Todd Sheldon Satisfied Customers President and CEO EVP and CPO EVP and COO EVP and CFO EVP, General Year Joined: 2001 2023 1996-2008, 2023 2002 Counsel and Build Quality Index Net Promo
Slide 10: Responsible Governance
Responsible Governance Accountable stewardship of world-class board supports sustained value creation Kristen Actis-Grande André Hawaux Public Company 11 Years CFO of Sealed Air Former EVP and COO of Leadership Experience 100% Corporation Dick’s Sporting Goods, Inc. Public Company Board Average Tenu
Slide 11: We Lead with Our Purpose and Values, Resulting in a Winning Culture
We Lead with Our Purpose and Values, Resulting in a Winning Culture Our Our Our Our Our Guiding Reputation Vision Purpose Goals Principles Employer of Choice/ Be Considered Building Incredible Do the Right Thing, Inspired Employees, Best Place to Work the Most Respected Homes Where People Compassion
Slide 12: Giving Back to the Community
Giving Back to the Community Supporting our mission of building incredible places where people can live their dreams Give back to military Solve housing Educate the next generation 1 members and veterans 2 affordability needs 3 of homebuilders PulteGroup’s Built to Honor® program PulteGroup partners
Slide 13: PulteGroup Formula for Creating Long-Term Shareholder Value
PulteGroup Formula for Creating Long-Term Shareholder Value 2025 INVESTOR PRESENTATION 13
Slide 14: Maximizing Our Opportunities with Differentiated Advantages
Maximizing Our Opportunities with Differentiated Advantages Strategically positioned to generate premium through-cycle returns in dynamic housing market Our Differentiators Meaningful Business Outcomes Market Opportunities • Broad and targeted footprint in attractive markets Consistently achieving l
Slide 15: PulteGroup Value Creation Formula
PulteGroup Value Creation Formula 1 Disciplined Land Underwriting 2 Integrated Design and Build Process Leveraging multi-year portfolio of valuable land assets Maximizing value through innovative Deploying proprietary risk screening algorithm and go-to-market strategy: optimizing optioned/own
Slide 16: Strategic and Efficient Land Option Strategy
Disciplined Land Integrated Design Generating and Underwriting 1 and Build Process 2 Allocating Cash 3 Strategic and Efficient Land Option Strategy Balancing flexibility and control to profitably grow, enhance • As of 9/30/25 control ~240,000 lots; returns, and mitigate market risk 42% owned / 58% h
Slide 17: Data-driven Land Underwriting Algorithm Adjusts Required Returns for Risk
Disciplined Land Integrated Design Generating and Underwriting 1 and Build Process 2 Allocating Cash 3 Data-driven Land Underwriting Algorithm Adjusts Required Returns for Risk Majority of Our Projects • Project-specific required returns 20-24% based on multi-factor risk scoring IRR Threshold rather
Slide 18: Targeted Market Segmentation Enables Returns
Disciplined Land Integrated Design Generating and Underwriting 1 and Build Process 2 Allocating Cash 3 Targeted Market Segmentation Enables Returns Building the right communities in the right locations for the right buyers Geographic Diversification Demographic Diversification ~1,000 Active Communit
Slide 19: Geographic Diversification: Strategic Locations in Attractive Markets
Disciplined Land Integrated Design Generating and Underwriting 1 and Build Process 2 Allocating Cash 3 Geographic Diversification: Strategic Locations in Attractive Markets Our Footprint Our Advantages Focused on major metros with attractive housing fundamentals Strategic selection of projects b
Slide 20: First-Time Buyers: Delivering Modern, Affordable Homes for Younger Buyers
Disciplined Land Integrated Design Generating and Underwriting 1 and Build Process 2 Allocating Cash 3 First-Time Buyers: Delivering Modern, Affordable Homes for Younger Buyers 40% $436K 20s-30s >90M 2024 Closings Mix ASP Demographics Population Buyer Group How We Win Characteristics • Seek closer-i
Slide 21: Move-Up Buyers: Helping Growing Families Take the Next Step
Disciplined Land Integrated Design Generating and Underwriting 1 and Build Process 2 Allocating Cash 3 Move-Up Buyers: Helping Growing Families Take the Next Step 38% $658K 30s-40s >90M 2024 Closings Mix ASP Demographics Population Buyer Group How We Win Characteristics • Build-to-order platform all
Slide 22: Active Adult Buyers: Enabling Fulfilling Lifestyles in Vibrant Communities
Disciplined Land Integrated Design Generating and Underwriting 1 and Build Process 2 Allocating Cash 3 Active Adult Buyers: Enabling Fulfilling Lifestyles in Vibrant Communities 22% $591K 55+ >40M 2024 Closings Mix ASP Demographics Population Buyer Group How We Win Characteristics • Del Webb is the
Slide 23: Del Webb Explore: Laying New Foundations for Growth
Disciplined Land Integrated Design Generating and Underwriting 1 and Build Process 2 Allocating Cash 3 Del Webb Explore: Laying New Foundations for Growth Expanding our iconic brand of resort-style living for the next generation Proven Concept, New Application New Buyer Group How We Win Opportunity
Slide 24: Efficient Innovation Delivers What Buyers Want
Disciplined Land Integrated Design Generating and Underwriting 1 and Build Process 2 Allocating Cash 3 Efficient Innovation Delivers What Buyers Want Every step of design, construction, and sales process contributes to returns Buyer-Driven Design: Data analytics and product testing matches Results w
Slide 25: Profitably Adding Value for Customers at Every Step
Disciplined Land Integrated Design Generating and Underwriting 1 and Build Process 2 Allocating Cash 3 Profitably Adding Value for Customers at Every Step Curated customization at scale and desire-driven pricing strategy produce higher margins 1 2 3 4 Base Floor Plan Lot Premium Options and Upgrades
Slide 26: Proven Ability to Deliver Premium Returns and Cash Flow in Dynamic Markets
Disciplined Land Integrated Design Generating and Underwriting 1 and Build Process 2 Allocating Cash 3 Proven Ability to Deliver Premium Returns and Cash Flow in Dynamic Markets Disciplined strategy execution has raised the bar for through-cycle returns Indexed Total Shareholder Return (TSR)1 PHM TS
Slide 27: Strong and Stable Balance Sheet
Disciplined Land Integrated Design Generating and Underwriting 1 and Build Process 2 Allocating Cash 3 Strong and Stable Balance Sheet Balance sheet strength and flexibility allows consistent investment in our strategic priorities 9/30/25 Notes Payable ($M) and Debt-to-Capital Ratio Modest Leverage
Slide 28: Disciplined Capital Allocation
Disciplined Land Integrated Design Generating and Underwriting 1 and Build Process 2 Allocating Cash 3 Disciplined Capital Allocation Capital allocation framework aligned with profitable growth strategy and shareholder value creation Capital Deployment History 2021 – TTM 9/30/2025 Future Priorities
Slide 29: Balancing Reinvestment and Returning Cash to Shareholders
Disciplined Land Integrated Design Generating and Underwriting 1 and Build Process 2 Allocating Cash 3 Balancing Reinvestment and Returning Cash to Shareholders Replenishing critical land assets while using excess cash for buybacks and dividends Land Acquisition and Development Spend ($B) Cash Retur
Slide 30: PHM: Superior Performance vs. S&P at Discounted Valuation
PHM: Superior Performance vs. S&P 500 at Discounted Valuation Rerating opportunity from proven progress as a reliable returns generator NTM P/E vs. TTM ROE for PHM, Homebuilder Peers, and S&P 500 Sectors1 25x Industrials Information Technology 20x Utilities Communication Consumer P/E (NTM) Health Ca
Slide 31: Proven Model for Delivering Through-Cycle TSR
Proven Model for Delivering Through-Cycle TSR Superior shareholder returns engine Begin with EXPERIENCED LEADERS & TEAM-FIRST CULTURE IDENTIFY OPPORTUNITY EXECUTE OPERATING MODEL REINVEST AND REWARD We identify the market Proven formula focused on Reinvest cash and return growth opportunity high thr
Slide 32: PulteGroup – Building Shareholder Value
PulteGroup – Building Shareholder Value 1 2 3 4 5 Superior Strong Delivering Industry Profitable Homebuilding Financial Shareholder Leader Growth Operations Position Value Proven model Underwriting Customization Pristine balance Compounding delivering top- and diversification at scale while sheet an
Slide 33: Building Incredible Places Where People Can Live Their Dreams
Building Incredible Places Where People Can Live Their Dreams 2025 INVESTOR PRESENTATION 33