Q2 2021 Results Presentation August 6, 2021 L/.NDSEA® 1 DISCLAIMER Forward-Looking Statements 2 Certain statements in this presentation may constitute "forward-looking statements" within the meaning of the federal securities laws, including, but not limited to, our expectations for future financial performance, business strategies or expectations for our business, including as they relate to anticipated effects of the business combination pursuant to that Agreement and Plan of Merger (the "Merger Agreement" ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ 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 Commission File Number 001-38545 Landsea Homes Corporation (Exact Name of Registrant as Specified in Its Charter) | Delaware | 82-2196021 | | --- | --- | | (State or Other Jurisdiction of | (I.R.S. Em ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR o 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: 001-38545 LANDSEA HOMES CORPORATION | Title of each class | Trading symbol(s) | Name of each exchange on which | | --- | --- | --- | | | ...

FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the quarterly period ended September 30, 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 001-38545 LF CAPITAL ACQUISITION CORP. (Exact Name of Registrant as Specified in Its Charter) Delaware 82-2196021 (State or Other Jurisdict ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to (Address of Principal Executive Offices) (Zip Code) (212) 688-1005 (Registrant's Telephone Number, Including Area Code) Securities registered pursuant to Section 12(b) ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 LF CAPITAL ACQUISITION CORP. (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of Incorporation or Organization) FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 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 Num ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 ¨ 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 001-38545 LF CAPITALACQUISITION CORP. (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to LF CAPITAL ACQUISITION CORP. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation) (Commission File Number) (IRS E ...

PART I. FINANCIAL INFORMATION [Interim Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Interim%20Financial%20Statements%20(Unaudited)) The unaudited interim financial statements for the period ended June 30, 2019, detail the company's financial position and operational results as a blank check company [Unaudited Condensed Balance Sheets](index=3&type=section&id=Unaudited%20Condensed%20Balance%20Sheets%20as%20of%20June%2030%2C%202019%20and%20December%2031%2C%202018) As of June 30, 2019, the company held $160.9 million in marketable securities in its Trust Account, with total assets of $161.4 million and total liabilities of $6.2 million Condensed Balance Sheet Data (Unaudited) | Balance Sheet Items | June 30, 2019 ($) | December 31, 2018 ($) | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | 179,418 | 196,804 | | Marketable securities held in Trust Account | 160,946,100 | 159,718,098 | | **Total Assets** | **161,408,087** | **159,958,116** | | **Liabilities & Equity** | | | | Total current liabilities | 572,951 | 314,792 | | Deferred underwriting commissions | 5,433,750 | 5,433,750 | | **Total Liabilities** | **6,209,060** | **5,748,542** | | Class A common stock subject to possible redemption | 150,199,018 | 149,209,569 | | **Total Stockholders' Equity** | **5,000,009** | **5,000,005** | [Unaudited Condensed Interim Statements of Operations](index=4&type=section&id=Unaudited%20Condensed%20Interim%20Statements%20of%20Operations) For the three and six months ended June 30, 2019, the company generated net income primarily from interest earned on Trust Account investments, contrasting with net losses in 2018 Statements of Operations Highlights (Unaudited) | Metric | Three Months Ended June 30, 2019 ($) | Six Months Ended June 30, 2019 ($) | | :--- | :--- | :--- | | Interest earned on investments | 965,040 | 1,900,169 | | Loss from operations | (245,018) | (532,117) | | Income tax expense | 193,059 | 378,599 | | **Net Income (Loss)** | **526,963** | **989,453** | | Basic and diluted net income per share, Class A | 0.05 | 0.09 | [Unaudited Condensed Statement of Changes in Stockholders' Equity (Deficit)](index=5&type=section&id=Unaudited%20Condensed%20Statement%20of%20Changes%20in%20Stockholders'%20Equity%20(Deficit)) For the six months ended June 30, 2019, total stockholders' equity remained stable, increasing nominally due to net income offset by redemption adjustments - Total stockholders' equity was **$5,000,009** as of June 30, 2019, compared to **$5,000,005** at December 31, 2018[15](index=15&type=chunk) [Unaudited Condensed Interim Statement of Cash Flows](index=6&type=section&id=Unaudited%20Condensed%20Interim%20Statement%20of%20Cash%20Flows) For the six months ended June 30, 2019, operating activities used cash, while investing and financing activities provided cash, resulting in a net decrease in cash Cash Flow Summary for the Six Months Ended June 30 (Unaudited) | Cash Flow Activity | 2019 ($) | 2018 ($) | | :--- | :--- | :--- | | Net cash used in operating activities | (1,089,103) | (273,187) | | Net cash provided by (used in) investing activities | 671,717 | (158,355,000) | | Net cash provided by financing activities | 400,000 | 159,515,687 | | **Net (decrease) increase in cash** | **(17,386)** | **887,500** | [Notes to Condensed Interim Financial Statements (Unaudited)](index=7&type=section&id=Notes%20to%20Condensed%20Interim%20Financial%20Statements%20(Unaudited)) The notes detail the company's blank check structure, IPO terms, business combination deadline, and significant accounting policies, highlighting substantial doubt about its ability to continue as a going concern - The Company is a blank check company formed to effect a business combination, with a focus on the commercial banking and financial technology industries[21](index=21&type=chunk) - The company's IPO on June 22, 2018, generated gross proceeds of **$155.25 million** and net proceeds of **$158.355 million** (including private placement proceeds) were placed in a Trust Account[23](index=23&type=chunk)[25](index=25&type=chunk) - If a Business Combination is not completed by **June 22, 2020**, the company will cease operations and redeem 100% of its outstanding Public Shares[31](index=31&type=chunk) - Management has determined that the mandatory liquidation requirement raises substantial doubt about the Company's ability to continue as a going concern[38](index=38&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=21&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's status as a blank check company, its financial results driven by Trust Account interest, and liquidity challenges, including substantial doubt about its ability to continue as a going concern - The company is a blank check company formed to effect a business combination, with an intended focus on the commercial banking and financial technology industries[97](index=97&type=chunk) - The company must complete a Business Combination by **June 22, 2020**, or it will be required to liquidate[102](index=102&type=chunk) - Management has determined that the mandatory liquidation provision raises substantial doubt about the company's ability to continue as a going concern[111](index=111&type=chunk) [Results of Operations](index=21&type=section&id=Results%20of%20Operations) For the six months ended June 30, 2019, the company reported net income primarily from interest earned on investments, contrasting with a net loss in the prior year Comparison of Results for the Six Months Ended June 30 ($) | Metric | 2019 | 2018 | | :--- | :--- | :--- | | Interest Earned | ~1,900,000 | 1 | | General & Administrative Costs | ~432,000 | ~191,000 | | Franchise Tax Expense | 100,000 | ~99,000 | | **Net Income (Loss)** | **~989,000** | **(~290,000)** | [Liquidity and Going Concern](index=23&type=section&id=Liquidity%20and%20Going%20Concern) As of June 30, 2019, the company faced a working capital deficit, relying on Sponsor loans for liquidity, with mandatory liquidation raising substantial doubt about its ability to continue as a going concern - As of June 30, 2019, the company had a working capital deficit of approximately **$111,000** and cash of approximately **$179,000**[109](index=109&type=chunk) - The company's liquidity is supplemented by loans from its Sponsor, receiving **$400,000** in loan proceeds on March 4, 2019, under a convertible note of up to **$1.5 million**[110](index=110&type=chunk) [Critical Accounting Policies and Estimates](index=25&type=section&id=Critical%20Accounting%20Policies%20and%20Estimates) Management identifies net income per share calculation and the classification of redeemable Class A common stock as critical accounting policies - Net income (loss) per share is computed using a two-class method, allocating interest income earned on the Trust Account (net of taxes) to the Class A common stock subject to redemption[121](index=121&type=chunk) - Class A common stock subject to possible redemption is classified as temporary equity because the redemption features are outside of the company's control, with **14,483,994 shares** classified as such as of June 30, 2019[122](index=122&type=chunk)[123](index=123&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=27&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company states it has no material market or interest rate risk due to short-term investments in U.S. government securities - The company does not believe it has material exposure to interest rate risk due to the short-term nature of its investments in U.S. government securities[127](index=127&type=chunk) [Controls and Procedures](index=27&type=section&id=Item%204.%20Controls%20and%20Procedures) As of June 30, 2019, disclosure controls and procedures were effective, with no material changes to internal control over financial reporting during the quarter - Management concluded that the company's disclosure controls and procedures were effective as of the end of the quarter ended June 30, 2019[128](index=128&type=chunk) - No material changes to the company's internal control over financial reporting occurred during the fiscal quarter[130](index=130&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=28&type=section&id=Item%201.%20Legal%20Proceedings) The company reported no legal proceedings - None[132](index=132&type=chunk) [Risk Factors](index=28&type=section&id=Item%201A.%20Risk%20Factors) There have been no material changes to the risk factors previously disclosed in the company's Form 10-K - No material changes to the risk factors disclosed in the Form 10-K filed on March 5, 2019[133](index=133&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds from Registered Securities](index=28&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds%20from%20Registered%20Securities) This section details the unregistered issuance of founder shares and private placement warrants, and the deposit of IPO proceeds into the Trust Account - The company issued **3,881,250 shares** of Class B Common Stock (founder shares) to its sponsor and an anchor investor in unregistered transactions[134](index=134&type=chunk) - The Sponsor and anchor investor purchased an aggregate of **7,760,000 Private Placement Warrants** at **$1.00 per warrant** in a private placement concurrent with the IPO[134](index=134&type=chunk) - Net proceeds of **$158.355 million** from the IPO and private placement were deposited into the Trust Account[136](index=136&type=chunk) [Defaults Upon Senior Securities](index=28&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon senior securities - None[137](index=137&type=chunk) [Mine Safety Disclosures](index=28&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) The company reported no mine safety disclosures - None[138](index=138&type=chunk) [Other Information](index=28&type=section&id=Item%205.%20Other%20Information) The company reported no other information - None[139](index=139&type=chunk) [Exhibits](index=29&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including CEO and CFO certifications and XBRL data files

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to LF CAPITAL ACQUISITION CORP. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation) (Commission File Number) (IRS Emplo ...