A Compelling Proposal for All Stakeholders

DFH is the Best Strategic Owner of BZH – Providing Superior Value to Shareholders; A Larger National Platform to Employees; and Expanded Options, Selection, and Value to Customers

BZH Shareholders Customers DFH Shareholders BZH Employees

BZH Shareholders

Combining an all-cash transaction with an attractive premium

  • 40% premium to BZH’s recent share price as of May 5, 2026
  • 25% premium to BZH’s 30-trading days VWAP1

BZH Employees

Empowering growth and excellence as a top-tier national homebuilder

  • Creates top 10 national builder with compelling growth opportunity
  • Driving efficiency through shared best practices
  • Expanding career mobility via a scaled platform

Customers

Combined integrated capabilities should create seamless buying experience for homeowners

  • Expanding reach across diverse regions and products
  • Driving affordability through large-scale cost savings
  • Integrating ancillary services for a frictionless experience

DFH Shareholders

Strategically and financially transformative acquisition to further improve value proposition

  • Enhanced scale in several states including Texas, Florida, South Carolina, North Carolina, Georgia and Arizona
  • Delivers scaled entry into California, Nevada and Indiana via a proven, established footprint
  • Leading the entry-level and move-up categories

Source: Bloomberg; market data as of 05-May-2026.

130-trading days Volume Weighted Average Price of $20.58, as of May 5, 2026.

Significant Synergy and Value Creation Opportunities for DFH Shareholders

Opportunity

  • Enhanced Returns Through a Comprehensive 100% Land-Light Model

    • Lower capital intensity
    • Faster inventory turns
    • Minimized land risk exposure
    • Higher return on equity

  • Cross-selling and Ancillaries Capture

    • Boost ancillary revenue
    • Expand mortgage and insurance capture
    • Deliver a seamless one-stop-shop experience

  • SG&A / Corporate

    • Scale enables greater tech investment
    • Shared services efficiencies
    • Stronger capabilities and cost savings
    • Lowers required capital deployments to support growth in short-term

The Transaction is Expected to Have a Minimal Impact to the Company’s Leverage Through the Use of Land-Banking and Mezzanine Equity Capital Sources Which Aligns with the Company’s Commitment to Building Scale While Reducing Leverage Over Time