Notice Regarding the Acquisition of All Shares (Making it a Wholly Owned Subsidiary) of United Homes Group, Inc. by Stanley Martin Homes, LLC (Newsletter)

Daiwa House Industry Co., Ltd. (Headquarters: Osaka, Chairman: Keiichi Yoshio) announced that on May 5, 2026 (US time: May 4), through its group company Stanley Martin Homes, LLC (Headquarters: Virginia, USA, hereinafter "Stanley Martin"), which operates a detached housing business in the US, it acquired all shares of United Homes Group, Inc. (Headquarters: South Carolina, USA, hereinafter "United Homes"), which operates a detached housing business in the southeastern US, making it a wholly owned subsidiary.

Daiwa House Group is expanding its detached housing business in the US to further grow its overseas business. As the characteristics of the housing market differ by region in the US, our group's three detached housing companies, Stanley Martin, CastleRock, and True Homes, are expanding their supply areas and strengthening their business foundations by acquiring businesses and shares of housing companies with proven track records in their respective regions.

Stanley Martin, which operates a detached housing business primarily in the southeastern US, has acquired businesses and shares related to detached housing from five companies since joining the Daiwa House Group in 2017. Currently, it operates in 16 areas across 7 states: Virginia, West Virginia, Maryland, North Carolina, South Carolina, Georgia, and Florida.

Amidst this, Stanley Martin aimed to further strengthen its business foundation and acquired all shares of United Homes, which operates a detached housing business in South Carolina, North Carolina, and Georgia, making it a wholly owned subsidiary. Moving forward, the two companies will collaborate, leveraging their respective strengths, to further expand their business foundation in the southeastern US.

● Stanley Martin and United Homes Business Areas

● Stanley Martin's Past Acquisitions of Detached Housing Companies' Businesses and Shares

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February 2018

Acquired the detached housing business (*1) of FD Communities, LLC (FrontDoor), which operates in Georgia and South Carolina.

February 2020

Acquired the detached housing business (*1) of Essex Homes Southeast, Inc. and its affiliates (Essex), which operate in North Carolina and South Carolina.

September 2021

Acquired the detached housing business (*1) from Avex Homes, LLC and its affiliates (Avex Homes), which operate in Florida.

May 2024

Acquired shares of Prestige Corporate Development, LLC (Prestige), which undertakes land development and land preparation in North Carolina.

September 2025

Acquired all shares of Windsor Investments, LLC (Windsor) and its affiliates, which operate in North Carolina.

*1. Includes assets such as land and buildings owned by the company, and employees engaged in housing construction and sales.

1. About United Homes

United Homes is headquartered in South Carolina and operates a detached housing business in the southeastern US, including South Carolina, North Carolina, and Georgia, primarily targeting first-time buyers and first-move-up buyers.

The company has been recognized for its contributions to the housing industry and continuous engagement with local communities, being inducted into the South Carolina Housing Hall of Fame (*2) in 2018. It has also won "Builder of the Year" twice in "BUILDER" (*3), a US housing construction industry magazine.

The southeastern US is seeing an influx of major companies in aerospace and electric vehicle (EV) sectors, and with population growth, stable housing demand is expected to continue. In particular, South Carolina, where the company operates, is projected to have the highest population growth rate in the US in 2025, and North Carolina and Georgia have also seen steady population growth in recent years (*4).

*2. A system by the Home Builder Association of South Carolina that honors companies and individuals recognized for their long-standing contributions to the housing industry and achievements in local communities.

*3. A media company leading the US housing construction industry, providing market data and strategic media platforms. HP: https://www.builderonline.com/

*4. From U.S. Census Bureau.

2. Execution of Share Acquisition