Dream Finders Homes (DFH) investor relations material

Business overview and growth strategy

• Operates in 313 active communities across 10 states, closing over 46,000 homes since inception and recognized as 2025 National Builder of the Year.

• Employs a land-light, capital-efficient model, purchasing lots close to construction start to minimize risk and maximize returns.

• Focuses on high-growth, low-cost-of-living markets, capturing 74% of U.S. migration into its operating states.

• Offers a diversified product mix, including entry-level, move-up, and luxury homes, with strong personalization options.

• Growth driven by both organic expansion and strategic acquisitions in key markets.

Financial performance and outlook

• FY25 revenues reached $4.37B with 8,608 home closings and an average selling price of $477,917.

• Backlog at year-end 2025 was 1,839 homes valued at $0.8B; 2026 home closings projected at approximately 9,250.

• Return on participating equity was 15.3% in 2025, with a controlled lot pipeline of 63,121.

• Adjusted gross margin improved by 480bps since 4Q21, reaching 26.5% in 4Q25.

• Inventory turnover remains above industry average, supporting strong cash generation.

Competitive advantages and market positioning

• Land-light model enables nimble market response, high asset turnover, and de-risked balance sheet.

• Consistently outperforms industry averages in return on equity and inventory turnover.

• Ranked #14 in U.S. builder closings for 2025, reflecting rapid ascension in industry rankings.

• Invested in markets with strong population and job growth, outperforming national averages.

• National marketing campaign and industry awards enhance brand recognition and trust.