PLANO, Texas, February 26, 2025 — Green Brick Partners, Inc. (NYSE: GRBK) (“we,” “Green Brick” or the “Company”), today reported record results for its fourth quarter and full year ended December 31, 2024.

Green Brick finished 2024 with a record full-year diluted EPS of $8.45, up 37.6% year over year, and record total revenues of $2.1 billion, up 18.1% year over year.

“We are extremely proud to celebrate our 10th anniversary as a public homebuilder with record quarterly and full-year results while exceeding $2 billion in home closings revenue for the first time.” said Jim Brickman, CEO and Co-Founder. “During the fourth quarter, we closed a record 1,019 homes, which brought our full-year closings to 3,783, a year-over-year increase of 21.1%. Homebuilding gross margin was 33.8% on deliveries for the year, which was a record and represented a year-over-year increase of 290 bps. Our homebuilding gross margins again led our industry.”

“Our fourth quarter net new orders increased 29.3% year over year to 878 homes. Our growth engine, Trophy Signature Homes continued to represent the lion’s share of total sales orders at 53.6% of homes sold. For the fourth quarter, incentives averaged 6.4%, up slightly from 5.9% the previous quarter in the face of increasing mortgage rates. Our cancellation rate remained low at 7.8%.” Mr. Brickman added, “As a result of our strong operating performance, fully-diluted EPS was $2.31 for the quarter and $8.45 for the full year, up 46.2% and 37.6% year over year respectively. These achievements are attributable to our footprint in desirable infill and infill-adjacent submarkets where we continued to generate over 80% of our full-year revenues. Return on equity for the full year was 26.8% vs 24.9% in 2023. Notably, this growth was achieved while maintaining low financial leverage. Our debt-to-total-capital ratio was 17.2% at the end of 2024, which was down 390 bps to our lowest year-end level since 2015.”

“We entered 2025 with a strong position for growth with total lots owned and controlled up 31.9% year over year,” continued Mr. Brickman. “At the end of 2024, we had 106 active selling communities, representing a 16.5% year-over-year growth. New home starts of 4,067 for the year were up 22.2%. Additionally, we owned over 4,700 finished lots at the end of 2024, over 80% of which are in infill and infill-adjacent submarkets where supply is more constrained. We remain optimistic on the housing market over the long term, which is supported by demographic tailwinds and persistent housing shortages. We have a great land and lot position. On February 17, 2025, our Board approved an increase in our share repurchase authorization to $100 million. Integral to our capital allocation process, we continue to evaluate our land acquisition strategy along with our share repurchase program and other long term company goals”

We will host our earnings conference call to discuss our fourth quarter ended December 31, 2024 at 12:00 p.m. Eastern Time on Thursday, February 27th, 2025. The call can be accessed by dialing 1-888-660-6353 for domestic participants or 1-929-203-2106 for international participants and should reference meeting number 3162560. Participants may also join the call via webcast at: https://events.q4inc.com/attendee/872399197

A telephone replay of the call will be available through March 29, 2025. To access the telephone replay, the domestic dial-in number is 1-800-770-2030, the international dial-in number is 1-609-800-9909 and the access code is 3162560, or by using the link at investors.greenbrickpartners.com.

			December 31, 2024																		December 31, 2023
			Central						Southeast						Total						Central						Southeast						Total
Lots owned
Finished lots			3,932						790						4,722						4,014						964						4,978
Lots in communities under development			22,524						1,670						24,194						9,122						1,335						10,457
Land held for future development(1)			3,800						—						3,800						8,366						—						8,366
Total lots owned			30,256						2,460						32,716						21,502						2,299						23,801
Lots controlled
Lots under option contracts			806						—						806						1,169						—						1,169
Land under option for future development			1,091						349						1,440						1,710						460						2,170
Lots under option through unconsolidated development joint ventures			2,614						255						2,869						1,210						331						1,541
Total lots controlled			4,511						604						5,115						4,089						791						4,880
Total lots owned and controlled (2)			34,767						3,064						37,831						25,591						3,090						28,681
Percentage of lots owned			87.0		%				80.3		%				86.5		%				84.0		%				74.4		%				83.0		%

(1) Land held for future development consists of raw land parcels where development activities have been postponed due to market conditions or other factors.

(2) Total lots excludes lots with homes under construction.

The following table presents additional information on the lots we owned as of December 31, 2024 and December 31, 2023.

(1) Total lots owned includes finished lot purchases, which were less than 1.4% of total lots self-developed as of December 31, 2024.

In this press release, we utilize certain financial measures that are non-GAAP financial measures as defined by the Securities and Exchange Commission. We present these measures because we believe they and similar measures are useful to management and investors in evaluating our operating performance and financing structure. We also believe these measures facilitate the comparison of our operating performance and financing structure with other companies in our industry. Because these measures are not calculated in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”), they may not be comparable to other similarly titled measures of other companies and should not be considered in isolation or as a substitute for, or superior to, financial measures prepared in accordance with GAAP.

The following table represents the non-GAAP measure of adjusted homebuilding gross margin for the twelve months ended December 31, 2024 and 2023 and reconciles these amounts to homebuilding gross margin, the most directly comparable GAAP measure.

Net debt to total capitalization is calculated as the total debt less cash and cash equivalents, divided by the sum of total Green Brick Partners, Inc. stockholders’ equity and total debt less cash and cash equivalents. The closest GAAP financial measure to the net debt to total capitalization ratio is the debt to total capitalization ratio. The following table represents a reconciliation of the net debt to total capitalization ratio as of December 31, 2024:

Green Brick Partners, Inc (NYSE: GRBK), the third largest homebuilder in Dallas-Fort Worth, is a diversified homebuilding and land development company that operates in Texas, Georgia, and Florida. Green Brick owns five subsidiary homebuilders in Texas (CB JENI Homes, Normandy Homes, Southgate Homes, Trophy Signature Homes, and a 90% interest in Centre Living Homes), as well as a 50% interest in a homebuilder in Atlanta, Georgia (The Providence Group) and an 80% interest in a homebuilder in Port St. Lucie, Florida (GHO Homes). Green Brick also retains interests in related financial services platforms, including Green Brick Title, GRBK Mortgage, and Green Brick Insurance. Green Brick is engaged in all aspects of the homebuilding process, including land acquisition and development, entitlements, design, construction, marketing, and sales for its residential neighborhoods and master-planned communities. For more information about Green Brick Partners Inc.’s subsidiary homebuilders, please visit https://greenbrickpartners.com/brands-services/.

This press release and our earnings call contain “forward-looking statements” within the meaning of the Private Securities Litigation Act of 1995. These statements concern expectations, beliefs, projections, plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts and typically include the words “anticipate,” “believe,” “consider,” “estimate,” “expect,” “feel,”, “poised,” “intend,” “plan,” “predict,” “seek,” “strategy,” “target,” “will” or other words of similar meaning.

Specifically, these statements reflect our beliefs and expectations regarding (i) our plans to increase spending on land development; (ii) our strategic advantages, including our focus on owning land and self-developing and on infill and infill-adjacent locations, and the impact on our future results; (iii) our positioning to capture future demand, increase market share and succeed in the current environment, including our ability to maintain industry-leading performance and margins; (iv) our expectations regarding the self-development of our inventory; (v) our ability to successfully implement our growth strategy, including our expectations for expansion and growth of our Trophy brand, including in the Houston market ; (vi) our expectations regarding trends in our markets, such as demographic trends and demand; (vii) our business priorities and our strategies to maintain the strength of our balance sheet and financial flexibility, and our positioning in the industry; (viii) the advantages of our lot and land strategies and locations, including the benefits to our returns, margins and ability to scale; (ix) our investments in land, lots and development in 2025, and the impact on our growth; (x) our flexibility in adjusting home prices; (xi) the demand for home ownership in the markets in which we operate and our ability to capitalize on such demand; and (xii) our ability to deliver efficient and cost-effective growth, including our ability to manage costs and cycle times. These risks include, but are not limited to: (1) general economic conditions, seasonality, cyclicality and competition in the homebuilding industry; (2) changes in macroeconomic conditions, including increasing interest rates and inflation that could adversely impact demand for new homes or the ability of potential buyers to qualify; (3) shortages, delays or increased costs of raw materials and increased demand for materials, or increases in other operating costs, including costs related to labor, real estate taxes and insurance, which in each case exceed our ability to increase prices; (4) significant periods of inflation or deflation; (5) a shortage of qualified labor; (6) an inability to acquire land in our markets at anticipated prices or difficulty in obtaining land-use entitlements; (7) our inability to successfully execute our strategies, including the successful development of our communities within expected time frames and the growth and expansion of our Trophy brand; (8) a failure to recruit, retain or develop highly skilled and competent employees; (9) the geographic concentration of our operations; (10) government regulation risks; (11) adverse changes in the availability or volatility of mortgage financing; (12) severe weather events or natural disasters; (13) difficulty in obtaining sufficient capital to fund our growth; (14) our ability to meet our debt service obligations; (15) a decline in the value of our inventories and resulting write-downs of the carrying value of our real estate assets; (16) our ability to adequately self-insure; and (17) changes in accounting standards that adversely affect our reported earnings or financial condition.. Green Brick assumes no obligation to update any forward-looking statements, which speak only as of the date they are made. For a more detailed discussion of these and other risks and uncertainties applicable to Green Brick please see our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission.

Benting Hu

Vice President of Finance

469-573-6755

IR@greenbrickpartners.com