Forestar Group Inc. (NYSE:FOR) Q4 2021 Earnings Conference Call November 4, 2021 5:00 PM ET Company Participants Katie Smith – Director-Finance and Investor Relations Dan Bartok – Chief Executive Officer Jim Allen – Chief Financial Officer Conference Call Participants Paul Przybylski – Wolfe Research Asher Sohnen – Citigroup Deepa Raghavan – Wells Fargo Securities Mike Rehaut – JPMorgan Max Downey – BTIG Operator Good afternoon, and welcome to Forestar’s Fourth Quarter 2021 Earnings Conference Call. I will ...

1 Investor Presentation Q4 21 FORWARD‑LOOKING STATEMENTS This presentation may include "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995. Although Forestar believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Factors that may cause the actual results to be materially different from the future results expressed by the forward-looking statements include, but are not limited t ...

Table of Contents Commission File Number: 001-33662 FORESTAR GROUP INC. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From To (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction ...

HARRINGTON TRAILS FORESTAR Investor Presentation 3Q | 2021 FORESTAR ' FORWARD‐LOOKING STATEMENTS 2 This presentation may include "forward‐looking statements" as defined by the Private Securities Litigation Reform Act of 1995. Although Forestar believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Factors that may cause the actual results to be materially different from the future results expressed by the forward-looking ...

Forestar Group Inc. (NYSE:FOR) Q3 2021 Earnings Conference Call July 20, 2021 5:00 PM ET Company Participants Katie Smith - Director, Finance and IR Dan Bartok - Chief Executive Officer Jim Allen - Chief Financial Officer Jessica Hansen - D.R. Horton, Vice President, IR Conference Call Participants Ryan Gilbert - BTIG Anthony Pettinari - Citi Deepa Raghavan - Wells Fargo Securities Truman Patterson - Wolfe Research Alex Barron - Housing Research Center Operator Good afternoon. And welcome to Forestar’s Thir ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From To Commission File Number: 001-33662 FORESTAR GROUP INC. (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction ...

Company Overview - Forestar is a residential lot developer focused on short duration, fully-entitled projects, operating in 54 markets across 22 states[3,4] - The company has a strategic relationship with D.R Horton, with D.R Horton currently owning 64% of Forestar[3] - Forestar's owned and controlled lot position is 84,500[5] Financial Highlights - Forestar's revenues are approximately $1.12 billion[5] - The company's liquidity is approximately $500 million[5] - The equity market capitalization is approximately $1.25 billion[5] - Forestar anticipates a 40% to 45% growth in lot deliveries in fiscal year 2021, projecting revenues between $1.20 to $1.25 billion with a pre-tax profit margin of 10.0% to 10.5%[19] Strategic Advantages - Forestar's business model focuses on return-driven residential lot development with a high-turnover, lower-risk strategy[7] - The company is increasing its sourced lots to 48% of total owned lots, up from 31% a year ago[28] - Forestar expects to invest over $1.5 billion in land acquisition and development in fiscal year 2021[23]

Forestar Group Inc. (NYSE:FOR) Q2 2021 Earnings Conference Call April 20, 2021 5:00 PM ET Company Participants Jessica Hansen - Vice President, Investor Relations Dan Bartok - Chief Executive Officer Katie Smith - Director of Finance and Investor Relations Jim Allen - Chief Financial Officer Conference Call Participants John Lovallo - Bank of America Ryan Gilbert - BTIG Anthony Pettinari - Citi Truman Patterson - Wolfe Research Elad Hillman - J.P. Morgan Deepa Raghavan - Wells Fargo Securities Alex Barron ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended December 31, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From To Commission File Number: 001-33662 FORESTAR GROUP INC. (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdict ...

FORESTAR Investor Presentation Q1 2021 FORWARD LOOKING STATEMENTS 2 This presentation may include "forward‐looking statements" as defined by the Private Securities Litigation Reform Act of 1995. Although Forestar believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Factors that may cause the actual results to be materially different from the future results expressed by the forward‐looking statements include, but are no ...