The Howard Hughes Corp. (HHC) Q3 2022 Earnings Conference Call November 21, 2022 11:00 AM ET Company Participants Eric Holcomb - SVP, IR David O'Reilly - CEO Jay Cross - President Carlos Olea - CFO David Striph - Head of Operations Peter Riley - General Counsel Conference Call Participants Anthony Paolone - JPMorgan Alexander Goldfarb - Piper Sandler Vahid Khorsand - BWS Financial Operator Good day, and welcome to The Howard Hughes Corporation Third Quarter Earnings Call. [Operator Instructions] Please not ...

The Howard Hughes Corp. (HHC) Q2 2022 Results Conference Call August 4, 2022 10:00 AM ET Company Participants Eric Holcomb - SVP, IR David O'Reilly - CEO Jay Cross - President Carlos Olea - CFO David Striph - Head of Operations Conference Call Participants Alex Barron - Housing Research Center Alexander Goldfarb - Piper Sandler Anthony Paolone - JPMorgan Hamed Khorsand - BWS Financial John Kim - BMO Peter Abramowitz - Jefferies Operator Hello, and welcome to the Howard Hughes Corporation Second Quarter Earn ...

Howard Hughes Corp (HHC) Q1 2022 Earnings Conference Call May 10, 2022 10:00 AM ET Company Participants Jay Cross - President David O'Reilly - CEO & Director David Striph - EVP & Head, Operations John Saxon - Chief of Staff Carlos Olea - CFO Conference Call Participants Alexander Goldfarb - Piper Sandler & Co. Anthony Paolone - JPMorgan Chase & Co. Hamed Khorsand - BWS Financial Operator Good morning, and welcome to the Howard Hughes Corporation First Quarter 2022 Earnings Conference Call. [Operator Instruc ...

The Howard Hughes Corporation (HHC) Q4 2021 Earnings Conference Call March 1, 2022 10:00 AM ET Company Participants | --- | |---------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | John Saxon - Investor Relations | | David O'Reilly - Chief Executive Officer Dave Striph - Head of Operations Jay Cross - President Carlos Olea - Chief Financial Officer Peter Riley - General Counsel | | Conference ...

Howard Hughes Corp. (HHC) Q3 2021 Earnings Conference Call November 5, 2021 10:00 AM ET Company Participants John Saxon - IR David OÂ'Reilly - CEO Jay Cross - President Correne Loeffler - CFO Dave Striph - Head of Operations Peter Riley - General Counsel Conference Call Participants Daniel Santos - Piper Sandler Peter Abramowitz - Jefferies Vahid Khorsand - BWS Financial Alex Barron - Housing Research Center Operator Good morning, and welcome to the Howard Hughes Third Quarter 2021 Earnings Conference Call. ...

and and the state of the states e 40 ell ( Forward-looking statements Statements made in this presentation that are not historical facts, including statements accompanied by words such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "likely," "may," "plan," "project," "realize," "should," "transform," "would," and other statements of similar expression and other words of similar expression, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 ...

Howard Hughes Corp (HHC) Q2 2021 Earnings Conference Call August 5, 2021 10:00 AM ET Company Participants John Saxon - IR David O'Reilly - CEO & Director David Striph - EVP and Head, Operations & IR Jay Cross - President Correne Loeffler - CFO Conference Call Participants Alexander Goldfarb - Piper Sandler & Co. Vahid Khorsand - BWS Financial Operator Good morning, and welcome to the Howard Hughes Corporation's Second Quarter 2021 Earnings Call. [Operator Instructions]. I would now like to turn the call ove ...

The Howard Hughes Corporation (HHC) Q1 2021 Earnings Conference Call May 11, 2021 10:00 AM ET Â Company Participants David Striph – Executive Vice President, Head of Operations and Investor Relations David O'Reilly – Chief Executive Officer Jay Cross – President Correne Loeffler – Chief Financial Officer Conference Call Participants Alexander Goldfarb – Piper Sandler Jon Petersen – Jefferies Hamed Khorsand – BWS Financial Operator Good morning, and welcome to The Howard Hughes CorporationÂ's First Quarter 2 ...

Financial Data and Key Metrics Changes - The company reported a net loss of $26.2 million or $0.50 per diluted share for the year ended December 31, 2020, compared to a net income of $74 million or $1.71 per diluted share in 2019 [67] - For Q4 2020, the net loss was $6.6 million or $0.12 per diluted share, compared to a net loss of $1.1 million or $0.03 per diluted share for the same period in 2019 [67] - The year-over-year decline in earnings was largely due to the impact of COVID-19 across various business segments, along with significantly lower condo sales revenue recognized in 2020 [68] Business Line Data and Key Metrics Changes - The Master-Planned Communities (MPC) segment achieved earnings before tax (EBT) of $209 million, exceeding pre-COVID expectations of $180 million to $200 million [13][46] - New home sales increased by 10% over 2019, with a total of 2,724 new homes sold in 2020 [14] - Operating asset net operating income (NOI) was $190 million, an 11% decline compared to 2019, primarily due to the impact of COVID-19 on retail, hospitality, and ballpark assets [50] Market Data and Key Metrics Changes - Retail collections improved to 73% in Q4 2020 from 66% in Q3 2020, showing signs of recovery as local economies reopened [17][55] - The price per acre of residential land in Summerlin increased by 17% to $272,000 in 2020 compared to 2019 [47] - Bridgeland saw new home sales rise by 18% in 2020, with a price per acre increase of 8% to $439,000 [48] Company Strategy and Development Direction - The company plans to launch 2 million square feet of new developments in 2021, focusing on areas with strong demand [72] - Aalii, a new condo tower at Ward Village, is expected to generate $100 million to $125 million in net profit upon completion [65] - The company is committed to maximizing the value of its master-planned communities and will only develop new projects when underlying demand dictates [41] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for continuous improvement in retail and hospitality assets in 2021, anticipating a return to a full Minor League Baseball season [18] - The company expects MPC EBT to remain in the range of $180 million to $200 million for 2021, consistent with previous guidance [63] - Management highlighted the resilience of their business model and the strong demand for homes in their communities, driven by trends such as remote work [81] Other Important Information - The company completed a bond offering of $1.3 billion to strengthen its balance sheet and extend its debt maturity profile [70][71] - The company ended 2020 with $1 billion in cash and strong liquidity, positioning it well for future growth [71] Q&A Session Summary Question: What drove the 35% increase in saleable residential acres at Bridgeland in Q4 2020? - Management noted that the increase was due to refining the master plan at Bridgeland, allowing for more detailed neighborhood openings in 2021 and 2022 [74] Question: What caused the 25% decline in other operating rent collections in Q4 versus Q3? - Management attributed the decline to timing differences related to specific properties, expecting normalization in Q1 2021 [76] Question: Will there be gains recognized from condo towers in Hawaii this year? - Management expects to recognize between $100 million and $125 million in net profitability from the completion of Aalii and other sales [78] Question: Are there plans to buy back shares after dilution due to COVID? - Management is evaluating capital allocation decisions, including potential share repurchases, depending on market conditions [79] Question: What is the outlook for Downtown Columbia's development? - Management expressed excitement about the progress in Downtown Columbia, highlighting its strong performance during the pandemic [80] Question: How is the company capitalizing on the demand for real estate in states like Texas and Florida? - Management emphasized that increased home sales lead to more land sales to homebuilders, driving further development in their communities [83]

7 | 龙 TI 7 3 ortunity Forward-looking statements Statements made in this presentation that are not historical facts, including statements accompanied by words such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "likely," "may," "plan," "project," "realize," "should," "transform," "would," and other statements of similar expression and other words of similar expression, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Sec ...