Page 1

FOR IMMEDIATE RELEASE ● ● PulteGroup ● Company Contact Investors : Jim Zeumer ( 404 ) 978-6434 jim.zeumer@pultegroup.com PULTEGROUP REPORTS SECOND QUARTER 2021 FINANCIAL RESULTS Reported Net Income of $ 1.90 Per Share Adjusted Net Income of $ 1.72 Per Share Net New Orders Increased 28 % to 8,322 Homes ; Net New Order Value Increased 59 % to $ 4.3 Billion Closings Increased 22 % to 7,232 Homes Home Sale Revenues Increased 31 % to $ 3.2 Billion Homebuilding Gross Margin Increased 270 Basis Points to 26.6 % Backlog Increased 52 % to 20,056 Homes ; Backlog Value Increased 70 % to $ 9.8 Billion Company Repurchased $ 200 Million of Stock in the Period Debt - to - Capital Ratio Decreased to 22.7 % ; Net Debt - to - Capital Ratio of 4.5 % ATLANTA - July 27 , 2021 – PulteGroup , Inc. ( NYSE : PHM ) announced today financial results for its second quarter ended June 30 , 2021. For the quarter , the Company reported net income of $ 503 million , or $ 1.90 per share . Adjusted net income for the quarter was $ 456 million , or $ 1.72 per share , after excluding a $ 46 million pre - tax insurance benefit and a tax benefit of $ 12 million resulting from a change in valuation allowances associated with state net operating loss carryforwards . Prior year reported net income was $ 349 million , or $ 1.29 per share . Adjusted net income for the prior year period was $ 311 million , or $ 1.15 per share , after excluding a $ 61 million pre - tax insurance benefit and $ 10 million of pre - tax charges associated with actions taken in response to the COVID - 19 pandemic . " PulteGroup reported outstanding second quarter financial results , driven by strong top line growth in combination with a 270 - basis point increase in our gross margin , " said Ryan Marshall , President and Chief Executive Officer of PulteGroup . " With a backlog exceeding 20,000 homes valued at $ 9.8 billion , I believe the Company is well positioned to realize further gains in the coming quarters as we work to grow our operations and continue to deliver high returns on equity , which totaled 25.7 % * for the trailing 12 months . " " We are experiencing very favorable market dynamics , led by strong housing demand and a generally limited inventory of new and existing homes , " added Marshall . " With the economy continuing to recover , a very positive job market , low interest rates and high levels of consumer confidence , we remain optimistic about demand conditions and the overall strength of the housing market going forward . " 1