First Quarter 2025 Highlights - comparisons to the prior year quarter

Net earnings per diluted share of $1.96 ($2.14, excluding mark-to-market losses on technology investments)Net earnings of $520 millionNew orders increased 1% to 18,355 homes; new orders dollar value decreased 4% to $7.4 billionBacklog of 13,145 homes with a dollar value of $5.8 billionDeliveries increased 6% to 17,834 homesTotal revenues of $7.6 billionHomebuilding operating earnings of $809 millionGross margin on home sales of 18.7% (18.8% before purchase accounting)S,G&A expenses as a % of revenues from home sales of 8.5%Net margin on home sales of 10.2%Financial Services operating earnings of $143 millionMultifamily operations were breakevenLennar Other operating loss of $89 millionHomebuilding cash and cash equivalents of $2.3 billionYears supply of owned homesites of 0.2 years, lowest in the Company's historyControlled homesites of 98%, highest in the Company's historyNo outstanding borrowings under the Company's $3.0 billion revolving credit facilityHomebuilding debt to total capital of 8.9%Repurchased 5.2 million shares of Lennar common stock for $703 millionCompleted spin-off of Millrose Properties, Inc. on February 7thCompleted acquisition of Rausch Coleman Homes' homebuilding operations on February 10th