Dream Finders Homes, Inc. · NYSE:DFH
Dream Finders Homes — Merger or Acquisition (August 2026)
15 slides from Dream Finders Homes's merger presentation, Aug 7, 2026
Slide 1: Dream Finders Homes to Acquire Beazer Homes, Creating the 6th Largest Homebuilder in the U.S.
August 7th, 2026 Dream Finders Homes to Acquire Beazer Homes, Creating the 6th Largest Homebuilder in the U.S.
Slide 2: Forward-Looking Statements
Forward-Looking Statements The information presented herein may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 giving the Company’s expectations or predictions of future financial or business performance or conditions. Forward-looking st
Slide 3: Dream Finders Homes Announces Definitive Agreement to Acquire Beazer Homes for $33.50 Per Share All Cash
Dream Finders Homes Announces Definitive Agreement to Acquire Beazer Homes for $33.50 Per Share All Cash 3
Slide 4: Transaction Overview
Transaction Overview • $33.50 per share of Beazer Homes (BZH) in cash Consideration • Total enterprise value of $2.2 billion and Valuation • Implied transaction price to book multiple of 0.8x Expected • Creates 6th largest listed homebuilder by revenue • Over $100 million in annual run-rate cost syn
Slide 5: Pro Forma Combination Creates Top-10 Homebuilder
Pro Forma Combination Creates Top-10 Homebuilder CY 2025A Total Revenue, ($ in millions) $33,792 $33,524 $17,312 $11,158 $10,099 $6,589 $6,131 $5,858 $4,323 $2,266 LEN DHI PHM TOL NVR KBH MTH DFH BZH Pro Forma Source: Company filings Note: Based on CY2025A revenue within U.S.-headquartered home buil
Slide 6: Introducing the New Dream Finders Homes
Introducing the New Dream Finders Homes 1 (Giving effect to the transaction) CY2025A Home Building Revenue ($ millions) $ 4,145 $ 2,202 $ 6,347 CY2025A Home Building Gross Margin (%) 17.4 % 13.5 % 16.1 % CY2025A Closings 8,608 4,220 12,828 2 CY2025A Average Selling Price ($ 000s) $ 478 $ 526 $ 494 3
Slide 7: Strategic Addition of BZH Creates a Scaled, Industry Leading Land-Light Builder
Strategic Addition of BZH Creates a Scaled, Industry Leading Land-Light Builder Combination creates 6th largest listed homebuilder in U.S., with combined total revenue of $6.6 billion Expected to be highly accretive to 2027 unit closings, revenue, EBITDA, net income, and returns Over $100 million in
Slide 8: Significant Synergy and Value Creation Opportunities With Room for Upside
Significant Synergy and Value Creation Opportunities With Room for Upside ✓ Lower capital intensity Enhanced Returns Through ✓ Faster inventory turns a Comprehensive 100% ✓ Minimized land risk exposure Double Digit Land-Light Model ✓ Higher return on equity Percentage EPS ✓ Direct cost savings / low
Slide 9: The Combination of DFH and BZH Creates the 6th Largest, Nationally Scaled Builder
The Combination of DFH and BZH Creates the 6th Largest, Nationally Scaled Builder West East DFH Markets BZH Markets Mid-Atlantic DFH Presence BZH Presence Southeast DFH & BZH Presence Midwest Source: Company filings 9
Slide 10: Complementary Product Mix Across Customer Segments
Complementary Product Mix Across Customer Segments Average Sales Price (MRQ, $ in thousands) $1,009 $544 $533 $525 $462 $460 $459 $451 $451 $438 $373 $370 $367 $362 $358 $325 TOL PHM HOV BZH KBH Proforma PF DFH MHO GRBK NVR DFH MTH LEN LGIH DHI CCS SDHC DFH Pro Forma Entry-level Move-Up Active-Adult
Slide 11: Pro Forma Combination Creates a Leading Community Count
Pro Forma Combination Creates a Leading Community Count Total Community Count 1,683 1 1,535 1,074 522 459 442 353 340 330 169 LEN DHI PHM Pro Forma TOL NVR BZH MTH CCS DFH Pro Forma Source: Company filings Note: Based on latest available community count within U.S.-headquartered home builders. 1 Bas
Slide 12: Combination Expands Lot Position While Preserving DFH's Land-Light Model
Combination Expands Lot Position While Preserving DFH's Land-Light Model Total Controlled Lots (in thousands) DFH PF Owned vs. Option Lots 569 495 228 Owned Lots 22% 184 88 77 73 64 60 Option Lots 24 78% DHI LEN PHM NVR Pro Forma TOL MTH DFH CCS BZH Pro Forma Source: Company filings Note: Data is as
Slide 13: An Industry Leader Across Attractive Markets
An Industry Leader Across Attractive Markets Shared Markets DFH Rank BZH Rank Pro Forma Rank Nashville1 #11 #6 #3 Increased Scale Houston #5 #25 #5 Across all markets Dallas – Ft. Worth #10 #12 #7 Raleigh – Durham #13 >#25 #7 San Antonio #18 #20 #9 8 of 8 Suburban Maryland #17 #10 #9 Shared markets
Slide 14: DFH Has a Proven Playbook and Successful Track Record of Creating Value in Land-Light M&A
DFH Has a Proven Playbook and Successful Track Record of Creating Value in Land-Light M&A Integration of Financial Services Significant Capital Deployed Enhancing the homebuying experience and capturing value across the Strategically deployed over $1 billion of capital into acquisitions transaction
Slide 15: About Dream Finders Homes
About Dream Finders Homes Dream Finders Homes (NYSE: DFH), headquartered in Jacksonville, Florida, was recognized as the 2025 National Builder of the Year by Builder magazine. Dream Finders Homes builds single- family homes throughout the Southeast, Mid-Atlantic and Midwest, including Florida, Texas
Dream Finders Homes — Merger or Acquisition (August 2026) on 6ix