Tri Pointe Homes (TPH) investor relations material

Executive summary

• A definitive merger agreement was signed for an all-cash acquisition at $47.00 per share, valuing the transaction at approximately $4.5 billion, representing a 29% premium to the prior closing price and a 42% premium to the 90-day VWAP.

• The merger will result in the company becoming a wholly owned subsidiary of the acquirer, with delisting from the NYSE expected upon closing in Q2 2026, subject to shareholder and regulatory approvals.

• The combined entity aims to expand affordable, high-quality housing in the U.S., targeting 23,000 annual home sales by 2030, leveraging both companies' strengths and geographic reach.

• The transaction is not subject to a financing condition; the acquirer has secured a $5.4 billion debt commitment to fund the deal.

• The company will continue to operate as a distinct brand with its current management and headquarters post-merger.

Voting matters and shareholder proposals

• Shareholders will vote to approve the merger agreement and related transactions at a special meeting; approval by a majority of outstanding shares is required.

• If the agreement is terminated under certain conditions, including acceptance of a superior proposal, a termination fee of $82,336,000 is payable.

• The proxy statement will include the board's recommendation and a fairness opinion from the financial advisor.

Board of directors and corporate governance

• The board unanimously approved the merger, determined it to be in the best interests of shareholders, and recommended its adoption.

• At closing, directors of the acquirer's subsidiary will become directors of the surviving corporation, while current officers will remain in their roles.

• An amendment to the bylaws designates Delaware courts as the exclusive forum for certain legal actions and federal courts for Securities Act claims.