KB Home ($KBH)

Hello, and welcome to the Annual Meeting of Stockholders of KB Home. Please note that today's meeting is being recorded. [Operator Instructions] It is now my pleasure to turn today's meeting over to Jeff Mezger. Mr. Mezger, the floor is yours.

Good morning, and welcome to KB Home's 2026 Annual Meeting of Stockholders. I'm Jeff Mezger, Executive Chairman of the KB Home Board of Directors, and it is my pleasure to call the meeting to order. The meeting will be conducted under the posted rules of conduct so that we can have an orderly proceeding. I will start by identifying the other members of the Board of Directors who are participating in the meeting. Jose Barra, Principal of Proinco Strategic Advisors LLC; Art Collins, Founder and Managing Partner of theGROUP; Dorene Dominguez, Chairwoman and Chief Executive Officer of the Vanir Group of Companies; Kevin Eltife, Founder and Owner of Eltife Properties; Dr. Stuart Gabriel, Director of the Ziman Center for Real Estate at UCLA and Distinguished Professor of Finance and Arden Realty Chair at the UCLA Anderson School of Management; Dr. Tom Gilligan, Emeritus Director and Senior Fellow at the Hoover Institution at Stanford University; Cheryl Henry, Former President, Chief Executive Officer and Chairwoman of Ruth's Hospitality Group; Jody Kozlak, Founder and CEO of Kozlak Capital Partners; and Rob McGibney, President and CEO of KB Home. I will also recognize and thank James Weaver, CEO and Chairman of CW Interest, who is stepping down from the Board today after 9 years of exemplary service to KB Home. We will now proceed with the official business of the meeting and for that I will turn the meeting over to Brian Woram General Counsel.

Thank you, Mr. Chairman, and good morning, everyone. This part of the meeting is being conducted according to the notice of meeting and proxy statement made available beginning on March 13, 2026, to all stockholders of record on February 25, 2026. As noted by our Executive Chairman, the meeting is being conducted under the rules of conduct that are posted to the meeting site. Among other matters, the rules cover how stockholders may ask an addressable question at the meeting. The minutes of the KB Home Annual Meeting of Stockholders held on April 17, 2025, are available through Mr. Tony Richelieu, our Corporate Secretary. Mr. Richelieu and Mr. [Mark Cano] of Computershare will act as inspectors of election. The inspectors have reported that the holders of significantly more than a majority of the outstanding capital stock of the company entitled to vote at this meeting are present in person or by proxy. On behalf of our Chairman, I therefore declare that a quorum is present, that this meeting is duly constituted and that the polls are open. Stockholders who have not voted or who wish to change a vote may do so now by clicking on the Vote tab on the website. Any stockholder who has already voted and does not wish to change his or her vote need not take any further action. We will now proceed to the presentation of the items of business for this meeting that were included in the proxy statement and that are subject to stockholder vote. The first item of business is the election of 10 directors to serve on the KB Home Board. As set forth in the proxy statement, your Board has nominated and recommends the election of the following 10 persons to serve for a 1-year term. Mr. Jose M. Barra, Mr. Arthur Collins, Ms. Dorene Dominguez, Mr. Kevin Eltife, Dr. Stuart Gabriel, Dr. Thomas Gilligan, Ms. Cheryl Henry, Ms. Jodeen Kozlak, Mr. Robert McGibney and Mr. Jeffrey Mezger. To be elected, each director nominee must receive more votes for the nominee than votes against the nominee. The second item of business is a nonbinding advisory resolution to approve named executive officer compensation as set forth in the proxy statement. This advisory resolution will be considered approved if a majority of eligible shares present or represented at the meeting are voted for approval. The third item of business is to ratify the appointment of Ernst & Young LLP as KB Home's independent registered public accounting firm for the current fiscal year ending November 30, 2026. This appointment of Ernst & Young LLP, a representative of which is participating in the meeting, will be considered ratified if a majority of eligible shares present or represented at the meeting are voted for ratification. I declare that polling for the matters presented at this meeting and online voting are now closed. The final results of the matters voted on at this meeting will be reported in an appropriate public filing within the applicable filing deadline. This completes the official business of the meeting. Per the rules of conduct, a stockholder may ask up to 2 questions on topics pertinent to the meeting. The company may address questions during the meeting orally or through the chat function on the meeting website. Additionally, if a stockholder has a follow-up question on a pertinent topic, the company will attempt to respond after the meeting concludes. We have received no pertinent questions. May I have a motion to conclude the meeting? I move.

Second.

Thank you. I declare the meeting concluded and thank all our stockholders for attending.

This concludes the meeting. You may now disconnect.