• Green Brick Partners is like Apple for homes.
• Green Brick Partners is like General Motors for houses.
• Green Brick Partners is like Hermes for luxury home communities.

• Single-Family Homes: Constructs and sells new single-family detached houses in master-planned communities and infill locations.
• Townhomes/Attached Homes: Builds and sells new attached residential units, such as townhouses.
• Land Development: Acquires, entitles, and develops land parcels into residential lots primarily for its own homebuilding divisions.

Green Brick Partners (symbol: GRBK) primarily operates as a diversified homebuilding and land development company, encompassing land acquisition, development, home construction, and related services such as mortgage and title services. The company focuses its operations in high-growth U.S. Sunbelt markets, including Texas (Dallas-Fort Worth, Austin), Georgia (Atlanta), and Florida (Florida's Treasure Coast/South Florida). Below are the addressable market sizes for residential homebuilding in these key regions:

• Dallas-Fort Worth, Texas: The housing market in Dallas-Fort Worth had a median home price of approximately $418,000 in 2025. The median sale price was $388,035 in the 30 days leading up to November 2025. As of August 2025, the median sale price was $397,333. The average home value in the Dallas-Fort Worth-Arlington area was $363,356 as of September 30, 2025. In August 2025, active listings in Dallas-Fort Worth reached almost 32,000.
• Atlanta, Georgia: The total value of the housing market in Atlanta was nearly $1.3 trillion as of August 2024. In the 30 days leading up to November 2025, the median sale price for homes in Atlanta was $429,349. As of September 2025, the median sale price in Atlanta was $390,000. The average home value in Atlanta was $392,310 as of September 2025.
• Florida (South Florida/Treasure Coast): The median closed price across Florida was $408,805 in Q3 2025. The median single-family home price in Florida was $410,000 at the end of September 2025. In September 2025, the median sale price for homes in Florida was $404,600. The average home value in Florida was $377,066 as of September 2025.

Green Brick Partners (GRBK) is expected to drive future revenue growth over the next two to three years through several key strategies:

1. Expansion into New Markets: The company is strategically expanding its presence by introducing its Trophy Signature Homes brand into new geographic markets, notably including Houston. This geographic diversification is anticipated to broaden its customer base and revenue streams.
2. Increased Land Acquisition and Community Count: Green Brick Partners has demonstrated a proactive approach to securing future growth by significantly increasing its total lots owned and controlled. The company has also committed substantial capital to land development, laying the groundwork for an expanded number of active selling communities.
3. Growth of Trophy Signature Homes: Trophy Signature Homes is consistently highlighted as a key growth engine for Green Brick Partners. This brand continues to represent a substantial and growing proportion of the company's total home deliveries and new home orders, indicating its increasing contribution to overall revenue.
4. Higher Home Closings and Net New Orders: Despite market challenges, Green Brick Partners has focused on increasing both the number of home closings and net new home orders. This emphasis on sales volume and execution is a direct driver of revenue.
5. Strategic Focus on Infill and Infill-Adjacent Locations: A significant portion, over 80%, of Green Brick Partners' annual revenues is consistently generated from desirable infill and infill-adjacent submarkets. Maintaining and expanding operations in these high-demand areas is a core strategy for sustained revenue growth due to strong buyer interest and pricing power.

Share Repurchases

• Since 2022, Green Brick Partners has repurchased approximately 7.9 million shares, leading to a reduction of about 16% in its outstanding share count.
• In the first half of 2025 (nine months ended September 30, 2025), the company repurchased approximately $60.1 million worth of shares.
• As of September 30, 2025, a remaining authorization of $39.9 million was available under the 2025 Repurchase Plan.

Share Issuance

• No information was found regarding direct share issuances by Green Brick Partners within the last 3-5 years. Secondary offerings by selling stockholders occurred in September 2023 for 850,000 shares and in January 2021 for 6,000,000 shares, from which Green Brick Partners did not receive any proceeds.

Inbound Investments

• No specific information was found concerning large inbound investments (e.g., capital injections from strategic partners or private equity firms) in Green Brick Partners over the last 3-5 years.

Outbound Investments

• No specific information was found regarding Green Brick Partners making strategic investments in other companies over the last 3-5 years. The company has focused on internal growth initiatives, such as the expansion of its Trophy Signature Homes brand into new markets and the launch of Green Brick Mortgage.

Capital Expenditures

• Green Brick Partners expects to invest approximately $300 million in land development during 2025.
• Land development spending totaled approximately $206 million in 2024, $208 million in 2023, $212 million in 2022, and $123 million in 2021.
• The primary focus of capital expenditures is on acquiring and developing land, particularly in high-growth markets such as Texas, Georgia, and Florida, with a strategic emphasis on infill and infill-adjacent submarkets.