JACKSONVILLE, Fla.--(BUSINESS WIRE)--Dream Finders Homes, Inc. (\u201cDream Finders\u201d, \u201cDFH\u201d) (NYSE: DFH), today made available an investor presentation in connection with its proposal to acquire Beazer Homes USA, Inc. (\u201cBeazer\u201d, \u201cBeazer Homes\u201d) (NYSE: BZH). The investor presentation is available at announcement.dreamfindershomes.com<\/a> and will be filed with the U.S. Securities and Exchange Commission.<\/p> \nOn May 5, 2026, Dream Finders submitted a proposal to acquire Beazer Homes in an all-cash transaction at $25.75 per share, representing an approximate 40% premium to Beazer\u2019s closing share price on May 5, 2026, and reflecting a total equity value of approximately $704 million. In rejecting the proposal and refusing to engage, Beazer\u2019s Board of Directors (the \u201cBeazer Board\u201d) offers no credible basis for its assertion that Dream Finders\u2019 offer undervalues the company. Instead, the Beazer Board is asking shareholders to overlook Beazer\u2019s prolonged underperformance and to continue relying on a standalone strategy that has consistently produced weak margins, lagging growth and poor returns.<\/p> \nDream Finders believes Beazer shareholders deserve additional information on why the Beazer Board and management should move swiftly to engage. Highlights from the investor presentation include:<\/p> \n\u201cThe status quo is clearly failing: Beazer is an underperformer and consistently ranks last across every relevant metric among publicly traded homebuilder peers,\u201d said Patrick Zalupski, Chairman and Chief Executive Officer of Dream Finders. \u201cWe believe the Beazer Board is failing to fulfill its fiduciary duties, as its refusal to engage on our compelling acquisition proposal is not in the best interest of shareholders.\u201d<\/p> \nZalupski continued, \u201cDream Finders is the ideal owner for Beazer. Our land-light operating model and proven management team have delivered superior results. We remain fully committed to pursuing this transaction and firmly believe that our offer is the best path forward for Beazer\u2019s shareholders \u2013 delivering immediate and compelling value. We urge all shareholders to encourage the Beazer Board to engage meaningfully and constructively with us.\u201d<\/p> \nAdvisors<\/b><\/p> \nGoldman Sachs & Co. LLC, BofA Securities, Zelman & Associates and Vestra Advisors are acting as financial advisors to Dream Finders, Foley & Lardner is acting as legal counsel and Edelman Smithfield is acting as strategic communications advisor.<\/p> \nFinancing<\/b><\/p> \nKennedy Lewis has provided Dream Finders with a highly confident letter in connection with land bank financing related to the proposed transaction. Dream Finders has also obtained letters from Goldman Sachs & Co. LLC and BofA Securities stating that they are highly confident that financing for the transaction can be arranged in the capital markets.<\/p> \nAbout Dream Finders Homes<\/b><\/p> \nDream Finders Homes (NYSE: DFH), headquartered in Jacksonville, Florida, was recognized as the 2025 National Builder of the Year by Builder magazine. Dream Finders Homes builds single-family homes throughout the Southeast, Mid-Atlantic and Midwest, including Florida, Texas, Tennessee, North Carolina, South Carolina, Georgia, Colorado, Arizona, and the Washington, D.C. metropolitan area, which comprises Washington D.C., Northern Virginia and Maryland. As the Official Home Builder of the PGA TOUR, the Jacksonville Jaguars and the Tampa Bay Rays, Dream Finders Homes is deeply committed to excellence beyond homebuilding and into the communities it serves. Through its wholly owned subsidiaries, DFH also provides mortgage financing as well as title agency and underwriting services to homebuyers. Dream Finders Homes achieves its growth and returns by maintaining an asset-light homebuilding model. For more information, please visit www.dreamfindershomes.com<\/a>.<\/p> \nForward-Looking Statements<\/b><\/p> \nThis communication, and other written or oral statements made from time to time by management contain \u201cforward-looking statements\u201d as defined in the Private Securities Litigation Reform Act of 1995. The words \u201canticipate\u201d, \u201cbelieve\u201d, \u201cestimate\u201d, \u201cexpect\u201d, \u201cintend\u201d, \u201cwill\u201d, \u201cshould\u201d, \u201cpropose\u201d, \u201cprojecting\u201d, \u201cdriving,\u201d \u201cconfidence\u201d and similar expressions, including statements regarding the proposed transaction, benefits and synergies of the proposed transaction and future opportunities for the combined company, are intended to identify forward-looking statements. These statements reflect management\u2019s current beliefs, assumptions and expectations and are subject to a number of factors that may cause actual results to differ materially. Such factors include but are not limited to the ultimate outcome of any possible transaction between Dream Finders Homes and Beazer, including the possibility that the parties will not agree to pursue a business combination transaction or that the terms of any definitive agreement will be materially different from those described herein; uncertainties as to whether Beazer will cooperate with Dream Finders regarding the proposed transaction; Dream Finders Homes\u2019 ability to consummate the proposed transaction with Beazer; the conditions to the completion of the proposed transaction, including the receipt of any required shareholder approvals and any required regulatory approvals; Dream Finders Homes\u2019 ability to finance the proposed transaction with Beazer; the possibility that Dream Finders may be unable to achieve expected synergies within the expected time-frames or at all and to successfully integrate Beazer\u2019s operations, the retention of certain key employees may be difficult; and general economic conditions that are less favorable than expected. All forward-looking statements are based on Dream Finders Homes\u2019 beliefs as well as assumptions made by and information currently available to Dream Finders Homes. These statements reflect Dream Finders Homes\u2019 current views with respect to future events and are subject to various risks, uncertainties and assumptions. These risks, uncertainties and assumptions are discussed in Dream Finders Homes\u2019 Annual Report on Form 10-K for the year ended December 31, 2025 and other filings with the U.S. Securities and Exchange Commission. Dream Finders Homes undertakes no obligation to update or revise any forward-looking statement, except as may be required by applicable law.<\/p> \nAdditional Information<\/b><\/p> \nThis communication does not constitute an offer to buy or solicitation of an offer to sell any securities. This communication relates to a proposal that Dream Finders Homes has made for a business combination transaction. In furtherance of this proposal and subject to future developments, Dream Finders Homes (and, if applicable, Beazer) may file one or more registration statements, proxy statements, tender offer statements or other documents with the Securities and Exchange Commission (the \u201cSEC\u201d). This communication is not a substitute for any proxy statement, registration statement, tender offer statement, prospectus or other document Dream Finders and\/or Beazer may file with the SEC in connection with the proposed transaction.<\/p> \n1 <\/sup>Peers referenced are CCS, DFH, GRBK, KBH, LGIH, MHO and MTH.<\/p> \nInvestor Contacts:<\/i><\/b>![](\"https:\/\/mms.businesswire.com\/media\/20260520062524\/en\/2812059\/22\/5c8f8925-a689-4221-b230-95c8a11b3c63.jpg\")
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