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, 2022 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 001-38088 Five Point Holdings, LLC (Exact name of registrant as specified in its charter) Securities registered pursuant to Section 1 ...

Five Point Holdings, LLC (NYSE:FPH) Q2 2022 Earnings Conference Call August 2, 2022 5:00 PM ET Company Participants Dan Hedigan - Chief Executive Officer Leo Kij - Interim Chief Financial Officer Mike Alvarado - Chief Legal Officer Stuart Miller - Executive Chairman Conference Call Participants Alan Ratner - Zelman & Associates Ryan Dobratz - Third Avenue Management John Moran - Robotti & Company Operator Greetings and welcome to the Five Point Holdings LLC Second Quarter 2022 Conference Call. As a reminder ...

Five Point Holdings, LLC (NYSE:FPH) Q1 2022 Results Conference Call May 12, 2022 5:00 PM ET Company Participants Dan Hedigan - CEO Leo Kij - Interim CFO Conference Call Participants Alan Ratner - Zelman & Associates Ken Hansen - Stifel Operator Greetings, and welcome to the Five Point Holding LLC First Quarter 2022 Conference Call. As a reminder, this call is being recorded. Today’s conference may include for statements regarding Five Point business, financial condition, operations, cash flow, strategy, and ...

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, 2022 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 001-38088 Five Point Holdings, LLC (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporat ...

Financial Data and Key Metrics Changes - For Q4 2021, total consolidated revenues were $182.2 million, with net income of $47.5 million, of which $22.5 million was attributable to the company [20] - The cash position increased by $74.3 million, with no borrowings under the $125 million corporate line of credit [20] - Debt to total capitalization remained stable at 24.7%, while net debt to total capitalization was 15.9% considering a cash balance of $265 million [20] Business Line Data and Key Metrics Changes - The Valencia segment generated total revenues of $173.3 million in Q4, selling 643 homesites with a gross margin of 32.5% [21] - The Great Park segment reported revenues of $24.2 million, primarily from the sale of eight homes and management fee revenue [23] - The San Francisco segment recognized a loss of $2.1 million, mainly due to SG&A expenses [22] - The Commercial segment had revenues of $2.2 million, with a segment income of $381,000 [24] Market Data and Key Metrics Changes - Great Park Neighborhoods captured approximately 21% of new home sales in Orange County in 2021, with expectations for builders to purchase around 800 home sites in Q4 2022 [11] - In Valencia, new home sales totaled 146 in Q4, bringing the total to 346 homes sold since sales began in May [11] Company Strategy and Development Direction - The company aims to enhance shareholder value through five core strategies, including leading in sustainable mixed-use community development and addressing California's housing shortage [13][14] - There is a focus on optimizing the cost structure to fit the size and scale of the business, with an emphasis on dynamic cost management and revenue-enhanced opportunities [16][17] Management's Comments on Operating Environment and Future Outlook - The management acknowledges challenges such as geopolitical concerns, rising inflation, and interest rates but believes demand for high-quality communities remains strong [9] - The immediate priority is to conduct a comprehensive review of the organization to drive shareholder value [12] - Management expresses optimism about the company's short and long-term future, citing strong business conditions and irreplaceable assets [17] Other Important Information - The company plans to reassess the development plan and approval process for outstanding San Francisco assets to rationalize costs with yield [12] - SG&A expenses decreased by $6.4 million or 7.6% year-over-year, with a focus on achieving further reductions in 2022 [25] Q&A Session Summary Question: Can you provide quantified targets for revenue enhancement and cost management? - Management has not yet quantified targets but acknowledges opportunities based on past experience [28] Question: What is driving the reduction in expectation for lot sales in Valencia? - The reduction is due to the need for builders to catch up on construction and manage inventory effectively [30] Question: Can you comment on the stock price discount compared to book value? - Management is not in a position to provide meaningful insights on the stock price discount at this time [33]

(Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Washington, D.C. 20549 Form 10-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION For the fiscal year ended December 31, 2021 ☐ 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 001-38088 Five Point Holdings, LLC (Exact name of registrant as specified in its charter) Delaware 27-0599397 (State or other jurisdiction o ...

Five Point Holdings, LLC. (NYSE:FPH) Q3 2021 Results Earnings Conference Call November 3, 2021 5:00 PM ET Company Participants Lynn Jochim - President and COO Erik Higgins - Chief Financial Officer Mike Alvarado - Chief Legal Officer Greg McWilliams - Chief Policy Officer Stuart Miller - Executive Chair Emile Haddad - Chairman Emeritus Conference Call Participants Alan Ratner - Zelman and Associates Stephen Kim - Evercore ISI Operator Greetings and welcome to the Five Point Holdings LLC Third Quarter 2021 C ...

[Part I. Financial Information](index=4&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Financial Statements](index=4&type=section&id=ITEM%201.%20Financial%20Statements) The company reported a net loss of $34.2 million for the nine months ended September 30, 2021, with total assets slightly decreasing to $2.94 billion and increased cash usage in operations, influenced by complex VIE and unconsolidated entity structures Condensed Consolidated Balance Sheet Data (in thousands) | Account | Sep 30, 2021 | Dec 31, 2020 | | :--- | :--- | :--- | | Cash and cash equivalents | $191,134 | $298,144 | | Inventories | $2,167,291 | $1,990,859 | | Investment in unconsolidated entities | $374,441 | $442,850 | | **Total Assets** | **$2,936,275** | **$2,961,985** | | Notes payable, net | $618,732 | $617,581 | | **Total Liabilities** | **$1,063,429** | **$1,051,887** | | **Total Capital** | **$1,847,846** | **$1,885,098** | Condensed Consolidated Statements of Operations (in thousands) | Metric | Q3 2021 | Q3 2020 | YTD 2021 | YTD 2020 | | :--- | :--- | :--- | :--- | :--- | | Total Revenues | $20,695 | $8,377 | $42,179 | $41,904 | | Equity in earnings from unconsolidated entities | $485 | $52,423 | $9,048 | $45,417 | | **Net (Loss) Income** | **($8,210)** | **$36,422** | **N/A** | **($34,182)** | **($2,559)** | **N/A** | | Net (Loss) Income Attributable to the Company | ($3,848) | $16,964 | ($15,916) | ($1,210) | | **Diluted EPS (Class A)** | **($0.06)** | **$0.25** | **($0.23)** | **($0.02)** | Condensed Consolidated Statements of Cash Flows (in thousands) | Activity | Nine Months Ended Sep 30, 2021 | Nine Months Ended Sep 30, 2020 | | :--- | :--- | :--- | | Net cash used in operating activities | ($162,301) | ($115,713) | | Net cash provided by investing activities | $78,313 | $57,129 | | Net cash used in financing activities | ($23,022) | ($18,080) | | **Net Decrease in Cash** | **($107,010)** | **($76,664)** | - The company conducts all operations through the Operating Company, a consolidated Variable Interest Entity (VIE), with substantially all assets and liabilities belonging to this VIE, and also consolidates other VIEs including the San Francisco Venture, FP LP, and FPL[73](index=73&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=30&type=section&id=ITEM%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management reports strong new home sales and sufficient liquidity, despite a consolidated net loss influenced by varied segment performance and equity method investments, notably increased land sales in Great Park and reduced commercial revenue post-asset sales [Overview and Operational Highlights](index=30&type=section&id=Overview%20and%20Operational%20Highlights) The company operates through four segments, two accounted for by equity method, and underwent a significant leadership transition while reporting strong home sales in Great Park Neighborhoods and Valencia - Effective September 30, 2021, Emile Haddad transitioned to Chairman Emeritus and senior advisor, with Stuart Miller named Executive Chairman and Lynn Jochim becoming President and COO[135](index=135&type=chunk)[136](index=136&type=chunk) - Strong home sales were reported, with **135 homes sold at Great Park Neighborhoods in Q3 2021** (591 YTD) and **199 homes sold at Valencia** since its May 2021 launch[138](index=138&type=chunk) - In Q3 2021, the Great Park Venture sold **113 homesites and eight homes** for an aggregate gross price of **$78.0 million**[137](index=137&type=chunk) [Consolidated Results of Operations](index=31&type=section&id=Consolidated%20Results%20of%20Operations) Q3 2021 revenues increased to $20.7 million due to land sales and management fees, but a sharp decline in equity earnings from unconsolidated entities resulted in a net loss of $8.2 million for the quarter and $34.2 million YTD Comparison of Results of Operations (in thousands) | Metric | Q3 2021 | Q3 2020 | Change | YTD 2021 | YTD 2020 | Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Total Revenues | $20,695 | $8,377 | +147.0% | $42,179 | $41,904 | +0.7% | | Total Costs & Expenses | $30,927 | $24,540 | +26.0% | $89,311 | $91,450 | -2.3% | | Equity in Earnings | $485 | $52,423 | -99.1% | $9,048 | $45,417 | -79.9% | | **Net (Loss) Income** | **($8,210)** | **$36,422** | **N/A** | **($34,182)** | **($2,559)** | **N/A** | - The decrease in equity in earnings for Q3 2021 was primarily due to a large gain from the sale of two buildings by the Gateway Commercial Venture in the prior-year period[148](index=148&type=chunk) - For the nine months ended Sep 30, 2020, equity in earnings included a **$26.9 million other-than-temporary impairment** on the company's investment in the Great Park Venture, offset by gains on asset sales from the Gateway Commercial Venture[155](index=155&type=chunk) [Segment Results](index=33&type=section&id=Segment%20Results) Segment performance varied, with Great Park profitable from land sales, Valencia incurring a loss due to marketing, San Francisco delayed by land retesting, and Commercial profit significantly down due to the absence of prior-year asset sales - **Valencia:** YTD revenues of **$11.5 million** included **$10.0 million** from a contingent payment on a 2011 commercial property sale, while SG&A expenses increased **59.6% YTD** due to marketing for the new development area[171](index=171&type=chunk)[173](index=173&type=chunk)[175](index=175&type=chunk) - **San Francisco:** Development progress is hampered by delays in land transfer from the U.S. Navy due to re-evaluation of environmental remediation work, and the company is also a defendant in related litigation[179](index=179&type=chunk)[180](index=180&type=chunk) - **Great Park:** YTD land sales revenue surged to **$407.3 million** (887 homesites) from **$23.1 million** (35 homesites) in the prior year, and the venture made distributions of **$204.3 million** to percentage interest holders, of which the company received **$76.6 million**[186](index=186&type=chunk)[196](index=196&type=chunk) - **Commercial:** YTD revenues decreased **70.3% to $6.7 million**, as the prior-year period included rental income from three buildings sold in 2020 for gross proceeds of **$463.0 million**[209](index=209&type=chunk)[213](index=213&type=chunk) [Liquidity and Capital Resources](index=43&type=section&id=Liquidity%20and%20Capital%20Resources) As of September 30, 2021, the company held $191.1 million in cash and an undrawn $125.0 million credit facility, with cash used in operations totaling $162.3 million and investing activities providing $78.3 million, primarily from a Great Park Venture distribution Liquidity Position as of Sep 30, 2021 (in millions) | Item | Amount | | :--- | :--- | | Cash and cash equivalents | $191.1 | | Revolving credit facility capacity | $125.0 | | Drawn on credit facility | $0 | | Letters of credit outstanding | $0.3 | | **Available Liquidity** | **$315.8** | - Cash used in operating activities increased by **$46.6 million YTD**, driven by continued investment in horizontal development and SG&A costs[226](index=226&type=chunk) - Cash from investing activities was primarily driven by a **$76.6 million distribution** (return of investment) from the Great Park Venture[229](index=229&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=46&type=section&id=ITEM%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risk is its **$618.7 million** in fixed-rate consolidated net indebtedness, which is not subject to interest rate fluctuations, and it does not use derivative financial instruments - As of September 30, 2021, the company had **$618.7 million** in outstanding consolidated net indebtedness, which bears interest at fixed rates[239](index=239&type=chunk) - The company has not entered into any transactions using derivative financial instruments[239](index=239&type=chunk) [Controls and Procedures](index=46&type=section&id=ITEM%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of September 30, 2021, with no material changes to internal control over financial reporting identified during the quarter - Management concluded that disclosure controls and procedures were effective as of September 30, 2021[240](index=240&type=chunk) - No changes in internal control over financial reporting that materially affected, or are reasonably likely to materially affect, internal controls were identified during the quarter[241](index=241&type=chunk) [Part II. Other Information](index=47&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Legal Proceedings](index=47&type=section&id=ITEM%201.%20Legal%20Proceedings) The company is a defendant in multiple lawsuits, including a class action related to The San Francisco Shipyard, alleging fraudulent environmental misrepresentation by a U.S. Navy contractor, for which the company asserts meritorious defenses - The company is a defendant in a putative class action lawsuit filed in May 2018 concerning The San Francisco Shipyard, alleging fraudulent misrepresentation of test results and remediation by Tetra Tech, a contractor hired by the U.S. Navy[99](index=99&type=chunk) - Additional lawsuits have been filed by homeowners at The San Francisco Shipyard, alleging that environmental contamination issues were not properly disclosed, to which the company believes it has meritorious defenses[100](index=100&type=chunk)[101](index=101&type=chunk) [Risk Factors](index=47&type=section&id=ITEM%201A.%20Risk%20Factors) No material changes to the company's risk factors have occurred since those disclosed in its Annual Report on Form 10-K for the fiscal year ended December 31, 2020 - The company states there have been no material changes in its risk factors from those disclosed in its Annual Report on Form 10-K for the year ended December 31, 2020[245](index=245&type=chunk) [Other Disclosures (Items 2, 3, 4, 5, 6)](index=47&type=section&id=Other%20Disclosures%20(Items%202,%203,%204,%205,%206)) This section confirms no unregistered equity sales, no defaults on senior securities, no other material information under Item 5, and provides a list of exhibits, with mine safety disclosures being inapplicable - The company reported no activity for Unregistered Sales of Equity Securities, Defaults Upon Senior Securities, or Other Information[246](index=246&type=chunk)

Financial Data and Key Metrics Changes - The company's consolidated revenues for Q2 2021 totaled $8.3 million, primarily from management services, with no land sales at Valencia or San Francisco during the quarter [13] - The net loss for the quarter was approximately $4.9 million, with $2.3 million attributable to the company [16] - Total liquidity as of June 30 was approximately $361.2 million, consisting of cash and cash equivalents of $236.5 million and borrowing availability of $124.7 million [27] Business Line Data and Key Metrics Changes - The Valencia segment reported a loss of $6.1 million, primarily due to selling, general, and administrative expenses [17] - The San Francisco segment incurred a net loss of $0.8 million, mainly from general and administrative expenses [18] - The Great Park segment generated revenues of $344.4 million, with a net income of $70.8 million for the quarter [21] Market Data and Key Metrics Changes - Home sales at the Great Park totaled 516 homes through July, compared to 291 net sales during the same period last year [5] - In Valencia, 110 homes were sold since mid-May, with an annualized rate projected at around 1,200 homes once all products are selling [6] - The lack of supply in the markets is driving double-digit home price appreciation, resulting in higher land prices [8] Company Strategy and Development Direction - The company aims to maintain a solid balance sheet and low debt while monetizing its assets [4] - There is a focus on intensifying housing development in response to California's housing shortage, with expectations of increasing permitted sites [34][36] - The company is positioned to be the largest provider of home sites in California's coastal markets, with over 20 million square feet of commercial development opportunities [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the housing market's strength and the company's unique position to capitalize on it [7] - The ongoing discussions with the City of Irvine and state officials are aimed at accelerating the delivery of land parcels [30] - Management noted that labor shortages and supply chain issues are not directly impacting the company, as it relies more on equipment than labor [38] Other Important Information - The company received nearly $100 million in distributions and incentive compensation payments from the Great Park Venture during the quarter [4][23] - The Great Park Venture is a self-funding operation with no debt, consisting of approximately 2,100 acres in Irvine [20] Q&A Session Summary Question: Update on San Francisco land delivery timeline - Management indicated ongoing discussions with the City and federal government to accelerate the process, but no specific timeline was provided [30] Question: Potential increase in permitted sites at Great Park - Management expressed optimism about the likelihood of increasing permitted sites due to favorable state policies and partnerships with local authorities [34][36] Question: Impact of labor constraints and supply chain issues - Management stated that while there are indirect impacts due to builders facing challenges, the company itself is not directly affected [38][42] Question: Details on Great Park land sale pricing - Management explained that the focus is on maintaining strong relationships with builders rather than maximizing land sale prices, as profit participation is in place [48][50] Question: Developments in apartment site opportunities - Management confirmed ongoing discussions about potential apartment sites in Valencia and the possibility of increasing rental products in the Great Park [53][55]

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 Commission File Number 001-38088 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Exact name of registrant as specified in its charter) Delaware 27-0599397 (State or other jurisdiction of incorporation or ...