SEGMENT INFORMATION

The Company has three reportable segments - Builder operations Central, Builder operations Southeast, and Land Development. Builder operations Central represents operations by our builders in Texas, whereas Builder operations Southeast represents operations by our builders in Georgia and Florida. The Land Development segment acquires land for the development of residential lots that are transferred to our controlled builders or sold to third party homebuilders. The operations of the Company’s builders and land development were aggregated in three reportable segments based on similar economic characteristics, including geography, housing products, class of homebuyer, regulatory environments, and methods used to construct and sell homes.

Corporate operations are reported as a non-operating segment and include activities which support the Company’s builder operations, land development, title and mortgage operations through the centralization of certain administrative functions, such as finance, treasury, information technology and human resources, as well as development of strategic initiatives. Unallocated corporate expenses are reported in the corporate, other and unallocated segment as these activities do not share a majority of aggregation criteria with either the builder operations or land development segments.

While the operations of Challenger met the criteria for an operating segment, they did not meet the quantitative thresholds of ASC 280, Segment Reporting (“ASC 280”) to be separately reported and disclosed. As such, Challenger’s results were included within the corporate, other and unallocated segment.

The operations of Green Brick Title, LLC (“Green Brick Title”), GRBK Mortgage and Green Brick Insurance are not economically similar to either builder operations or land development and do not meet the quantitative thresholds of ASC 280

to be separately reported and disclosed. As such, these entities’ results are included within the corporate, other and unallocated segment.

Operations of EJB River Holdings, GBTM Sendera, Magnolia Ridge, and Rainwater Crossing do not meet the criteria for an operating segment, and they do not meet the quantitative thresholds of ASC 280 to be separately reported and disclosed. As such, these results are included within the corporate, other and unallocated segment.

Operational results of each reportable segment are not necessarily indicative of the results that would have been achieved had the reportable segment been an independent, stand-alone entity during the periods presented.

Financial information relating to the Company’s reportable segments is as follows (in thousands):


	Years Ended December 31,
	2025	2024	2023
	As Restated	As Restated	As Restated
Revenues: (1)
Builder operations
Central	$1,524,961	$1,454,862	$1,244,810
Southeast	508,039	577,916	496,520
Total builder operations	2,033,000	2,032,778	1,741,330
Land development	6,994	28,697	7,980
Total revenues	$2,039,994	$2,061,475	$1,749,310

Gross profit:
Builder operations
Central	$507,719	$524,379	$424,494
Southeast	175,885	215,002	166,291
Total builder operations	683,604	739,381	590,785
Land development	2,589	4,428	3,268
Corporate, other and unallocated (2)	(45,387)	(40,288)	(45,871)
Total gross profit	$640,806	$703,521	$548,182

Segment expenses:
Commissions
Builder operations
Central	$77,287	$73,732	$65,689
Southeast	17,345	21,089	18,356
Total builder operations	94,632	94,821	84,045
Land development	—	—	—
Corporate, other and unallocated	1,776	—	—
Total commissions	$96,408	$94,821	$84,045

Salaries
Builder operations
Central	$45,285	$43,911	$39,330
Southeast	25,078	26,826	22,810
Total builder operations	70,363	70,737	62,140
Land development	—	—	194
Corporate, other and unallocated (3)	4,013	3,156	(2,013)
Total salaries	$74,376	$73,893	$60,321


	Years Ended December 31,
	2025	2024	2023
Other selling, general and administrative expenses
Builder operations
Central	$39,581	$37,324	$30,828
Southeast	16,401	15,319	15,814
Total builder operations	55,982	52,643	46,642
Land development	1,161	282	210
Corporate, other and unallocated	3,436	4,927	1,759
Total other expenses	$60,579	$57,852	$48,611

Total segment expenses
Builder operations
Central	$162,153	$154,967	$135,847
Southeast	58,824	63,234	56,980
Total builder operations	220,977	218,201	192,827
Land development	1,161	282	404
Corporate, other and unallocated	9,225	8,083	(254)
Total segment expenses	$231,363	$226,566	$192,977

Interest expense: (4)
Builder operations
Central	$(648)	$(25)	$(119)
Southeast	21,252	39,060	34,216
Total builder operations	20,604	39,035	34,097
Corporate, other and unallocated	(20,604)	(39,035)	(34,097)
Total interest expense, net	$—	$—	$—

Income before income taxes:
Builder operations
Central	$347,859	$372,599	$291,307
Southeast	120,695	154,760	112,582
Total builder operations	468,554	527,359	403,889
Land development	3,391	5,882	5,129
Corporate, other and unallocated (5)	(33,767)	(21,361)	(17,705)
Income before income taxes	$438,178	$511,880	$391,313


	December 31, 2025		December 31, 2024
Inventory:
Builder operations
Central	$	688,219	$	743,490
Southeast	293,635		318,592
Total builder operations	981,854		1,062,082
Land development	1,063,066		826,687
Corporate, other and unallocated (6)	54,291		48,963
Total inventory	$	2,099,211	$	1,937,732

Goodwill:
Builder operations - Southeast	$	680	$	680

(1)The sum of Builder operations Central and Southeast segments’ revenues does not equal residential units revenue included in the consolidated statements of income in periods when our builders have revenues from land or lot closings. For the year ended December 31, 2025, builders did not recognize revenues from land or lot closings. For the years ended December 31, 2024 and 2023, revenues from land or lot closings were $0.1 million and $0.5 million, respectively.

(2)Corporate, other and unallocated gross loss is comprised of capitalized overhead and capitalized interest adjustments that are not allocated to builder operations and land development segments.

(3)Corporate, other and unallocated salaries include corporate, Green Brick Mortgage, Green Brick Title, and field salaries that are capitalized and not allocated to operating segments.

(4)Interest expense of Builder operations Southeast segments represents an interest expense charged by the Corporate, other and unallocated segment in relation to financing purchases of land and construction of the Company’s Atlanta builder. Intercompany interest revenue of the Corporate, other and unallocated segment is eliminated in consolidation.

(5)Corporate, other and unallocated loss before income taxes includes results from Green Brick Title, Ventana Insurance, GRBK Mortgage, Green Brick Insurance, and investments in unconsolidated subsidiaries.

(6)Corporate, other and unallocated inventory consists of capitalized overhead and interest related to homes under construction and land under development.