Howard Hughes Holdings Inc.

MPC

–MPC EBT reached an all-time high of $476.1 million, increasing 36% compared to $349.1 million in the prior year.

–Residential land sales totaled 621 acres in 2025, compared to 445 acres in the prior year, including 415 acres sold in Summerlin®, 177 acres sold in Bridgeland®, and 28 acres sold in The Woodlands Hills®.

–In Summerlin, land sales included a bulk sale of 231 acres at an average price of $434,000 per acre. Excluding the bulk sale, residential land sales included seven superpad sales totaling 181 acres at a record price of approximately $1.7 million per acre and three custom lots at an average price of approximately $7.6 million per acre.

–New homes sold across our communities totaled 1,936 units in 2025, with Summerlin and Bridgeland ranking #10 and #11, respectively, in the RCLCO’s annual list of top-selling master planned communities.

–MPC EBT totaled $105.4 million in the fourth quarter, increasing 85% compared to $56.9 million in the prior-year period, primarily driven by residential land sales at Bridgeland.

–During the quarter, 91 residential acres were sold across Bridgeland and The Woodlands Hills, compared to 60 acres in the prior-year period, generating $59.3 million of MPC land sales at an average price of $653,000 per acre.

–New homes sold across our communities totaled 477 units during the quarter. While volumes declined modestly compared to the prior-year period, demand for our residential land remained strong, supporting continued pricing strength and long-term value creation across our MPCs.