INVESTOR PRESENTATION MAY 2013

Forward-Looking StatementsThis presentation includes “forward-looking statements.” These statements are subject to a number of risks, uncertainties and other factorsthat could cause our actual results, performance, prospects or opportunities, as well as those of the markets we serve or intend to serve, todiffer materially from those expressed in, or implied by, these statements. You can identify these statements by the fact that they do notrelate to matters of a strictly factual or historical nature and generally discuss or relate to forecasts, estimates or other expectationsregarding future events. Generally, the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “project,” “may,” “can,” “could,” “might,”“will” and similar expressions identify forward-looking statements, including statements related to expected operating and performingresults, planned transactions, planned objectives of management, future developments or conditions in the industries in which weparticipate and other trends, developments and uncertainties that may affect our business in the future.

Such risks, uncertainties and other factors include, among other things: interest rate changes and the availability of mortgage financing;continued volatility in the debt and equity markets; competition within the industries in which PulteGroup operates; the availability and costof land and other raw materials used by PulteGroup in its homebuilding operations; the impact of any changes to our strategy in respondingto continuing adverse conditions in the industry, including any changes regarding our land positions; the availability and cost of insurancecovering risks associated with PulteGroup's businesses; shortages and the cost of labor; weather related slowdowns; slow growthinitiatives and/or local building moratoria; governmental regulation directed at or affecting the housing market, the homebuilding industry orconstruction activities; uncertainty in the mortgage lending industry, including revisions to underwriting standards and repurchaserequirements associated with the sale of mortgage loans; the interpretation of or changes to tax, labor and environmental laws; economicchanges nationally or in PulteGroup’s local markets, including inflation, deflation, changes in consumer confidence and preferences and thestate of the market for homes in general; legal or regulatory proceedings or claims; required accounting changes; terrorist acts and otheracts of war; and other factors of national, regional and global scale, including those of a political, economic, business and competitivenature. See PulteGroup’s Annual Report on Form 10-K for the fiscal year ended December 31, 2012, and other public filings with theSecurities and Exchange Commission (the “SEC”) for a further discussion of these and other risks and uncertainties applicable to ourbusinesses. PulteGroup undertakes no duty to update any forward-looking statement, whether as a result of new information, future eventsor changes in PulteGroup’s expectations.

Certain statements in this presentation contain references to non-GAAP financial measures. A reconciliation of the non-GAAP financialmeasures to the comparable GAAP numbers is included in this presentation.

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Presentation Agenda• Signs of a Sustained Recovery in Housing• PulteGroup

• Company Profile• Improving Long-term Returns• Value Creation and Building a Better Business

• Review of Q1 2013 Financial Results

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DATA POINT TO A SUSTAINED RECOVERY IN HOUSING

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Excess Supply Reduced Through Years of Under Building

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Median = 1.5

HOUSING STARTS (000)

CUMULATIVE EXCESS/DEFICIT (000)

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A Clear Upturn in Housing Demand

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• March 2013 SAAR exceeds 400k new home sales• New homes sales bottomed at

306k in 2011, down 80% from peak

• Industry experts forecasting• growth in 2013 and beyond

• Favorable demographics and• pent-up demand • Low housing prices • Low interest rates• Rising rental rates

0

200

400

600

800

1,000

1,200

1,400

2005

2006

2007

2008

2009

2010

2011

2012

Mar

-13

NEW HOME SALES (000)

Source: U.S. Census Bureau; NAHB

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Pent-up Demand Expected to Return…

NUMBER OF SHARED HOUSEHOLDS (in thousands)

CHANGE IN NUMBER OF HOUSEHOLDS (in millions)

Source: U.S. Census Bureau; NAHB

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…While New Home Inventory is Limited

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0

100

200

300

400

500

600

2005 2006 2007 2008 2009 2010 2011 2012

For Sale New Home Inventory (000)

Source: U.S. Census Bureau; NAHB

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OVERVIEW OF PULTEGROUP

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PulteGroup Overview• Among the nation’s largest

homebuilders with operations in 55 major metro markets

• Delivered over 600,000 homes since being founded in Michigan in 1950

• Unique multi-brand strategy• to serve all major customer• groups• Unmatched presence in • active adult market through• Del Webb brand

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Broad Market Presence in Top Metro MarketsP

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31% 43% 26%

2012 CLOSINGS

Exposure Across All Major Customer Segments

INCREASED DEMAND AMONG MOVE-UP BUYERS IS SHIFTING MIX TOWARD PULTE HOMES

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• Expect ongoing recovery in demand within buyer group• Improving ability to sell current

home

• Demographics drive demand• Buyer group remains one of• the largest and most affluent • Almost 40% of Del Webb buyers

pay cash for their homes

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Positive Market Opportunity for Active Adult

0

10

20

30

40

50

60

70

80

2010 2015 2020

70-74

65-69

60-64

55-59

U.S. POPULATION OVER AGE 55 (in millions)

AGE

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VALUE CREATION INITIATIVES DRIVING IMPROVED BUSINESS PERFORMANCE

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• Financial goal is to drive improved returns on invested capital over the housing cycle

• Value Creation initiatives focused on improving fundamental operations:• Expand homebuilding gross margin• Drive greater overhead leverage• Increase inventory turns • More effectively allocate capital

• Actions are already having a meaningful impact on reported operating and financial results

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Strategy for Creating Greater Shareholder Value

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• Reduction of direct house costs• Manufacturing approach via

Common Plan Management• New pricing model of base

house with options/upgrades• Emphasis on presales with

managed spec production • Gross margins also benefiting

from: • An improved demand and pricing

environment• Shift in mix of closings to include

more move-up homes

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Actions Driving Improved Gross Margins

18.7%

20.3%

21.6%

21.8%

22.9%

16%

17%

18%

19%

20%

21%

22%

23%

24%

Q1'12 Q2'12 Q3'12 Q4'12 Q1'13

ADJUSTED GROSS MARGINS *

* Home Sale Gross Margin % Before Impairments & Interest Expense. See Supplemental Non-GAAP data for detail.

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• 2012 SG&A lowered by 190 bps from prior year to 11.3% of home sale revenues • Q1 2013 SG&A of 11.8%

compared with 15.2% in 2011

• Focus on volumes within existing communities can support additional upside leverage

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Working to Deliver Greater Overhead Leverage

10.0%

10.5%

11.0%

11.5%

12.0%

12.5%

13.0%

13.5%

2011 2012

SG&A COSTS AS PERCENT OF HOME SALE REVENUES

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• $1.4 billion in land spend authorized for 2013 and 2014

• Disciplined land acquisitions and divestitures

• Capital allocation and land investment practices aligned with ROIC focus • More formal risk weighting

process in evaluating new investment

• Greater emphasis on optioning rather than owning land positions

• Build local market share

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Land Strategy Aligned with ROIC Goals

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

180,000

2010 2011 2012 Q1'13

Optioned Owned

LOTS UNDER CONTROL

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• Q1 2013 cash balance of $1.7 billion, up $183 million from year-end

• On track to retire $1.0 billion of debt since the start of 2012 • Announced early redemption of

2014 maturities • Using excess cash on hand to

fund redemption• Upon redemption, debt-to-cap

expected to fall by 400 bps from 52% reported at end of Q1 2013

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Building Greater Financial Flexibility

DEBT MATURITY SCHEDULE ($ in millions)

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IMPACT OF VALUE CREATION INITIATIVES ON REPORTED FINANCIAL RESULTS

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• Q1 earnings of $0.21 per share up from prior year loss of ($0.03) per share

• Home sale revenues up 35% to $1.1 billion

• Adjusted gross margin up 420 bps to 22.9%

• SG&A down 340 bps to 11.8% of home sale revenues

Q1 2013 Financial HighlightsP

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18.7%

20.3%

21.6%

21.8%

22.9%

16%

17%

18%

19%

20%

21%

22%

23%

24%

Q1'12 Q2'12 Q3'12 Q4'12 Q1'13

ADJUSTED GROSS MARGINS *

* Home Sale Gross Margin % Before Impairments & Interest Expense. See Supplemental Non-GAAP data for detail.

Q1 2013 Financial Highlights

$0.0

$0.5

$1.0

$1.5

$2.0

$2.5

$3.0

$3.5

$4.0

2010 2011 2012 * 2013Adj

* Adjusted for announced redemptionPu

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Senior Notes Outstanding($ billions)

• Net new orders up 4% to 5,200 homes; order dollars up 18% to $1.6 billion

• Backlog value up 52% to $2.4 billion

• Quarter-end cash of $1.7 billion, up $183 million from year-end

• Net debt-to-cap down to 27% from 32% at year-end

• Announced plans to redeem $399 million of senior notes in May 2013

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Three Months Ended March 31,

2013 2012

Homebuilding Home Sale Revenues ($ millions) $1,100 $814

Homebuilding Pretax Income (Loss) ($ millions) $68 $(20)

Backlog (Units) 7,825 5,798

Backlog (Dollar Value in millions) $2,414 $1,586

Financial Services Pretax Income ($ millions) $14 $7

Income (Loss) Before Income Taxes ($ millions) $82 $(13)

Net Income (Loss) Per Share $0.21 ($0.03)

Q1 2013 Selected Financial Data

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Q1 2013 Balance Sheet Analysis

($ millions)March 31,

2013December 31,

2012

Cash and Equivalents (including restricted cash) $1,660 $1,477

House and Land Inventory $4,113 $4,214

Senior Notes $2,512 $2,510

Shareholders’ Equity $2,276 $2,190

Debt – to – Cap 52% 53%

Net Debt – to – Cap (adjusted for cash) 27% 32%

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PulteGroup: Well Positioned for Today and Tomorrow• Focus on ROIC – improving fundamental performance in margins,

overhead leverage, inventory turns and capital efficiency to drive improved returns on invested capital

• Land Strategy – capitalizing on existing land portfolio; increasing planned investment to support future homebuilding operations

• Unique Market Position – defined multi-brand strategy with leadership position in serving Baby Boomers

• Balance Sheet – $1.7 billion in cash and flexibility to support current operations and future growth opportunities

• Leadership – experienced leadership team focused on driving improvements in core homebuilding operations

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Reconciliation of Non-GAAP DataThis presentation contains information about home sale gross margin reflecting certain adjustments. This measureis considered a non-GAAP financial measure under the SEC’s rules and should be considered in addition to, ratherthan as a substitute for, the comparable GAAP financial measure as a measure of our operating performance.Management and our local divisions use this measure in evaluating the operating performance of each communityand in making strategic decisions regarding sales pricing, construction and development pace, product mix, andother daily operating decisions. We believe it is a relevant and useful measure to investors for evaluating ourperformance through gross profit generated on homes delivered during a given period and for comparing ouroperating performance to other companies in the homebuilding industry. Although other companies in thehomebuilding industry report similar information, the methods used may differ. We urge investors to understand themethods used by other companies in the homebuilding industry to calculate gross margins and any adjustmentsthereto before comparing our measure to that of such other companies.

The following table sets forth a reconciliation of this non-GAAP financial measure to the GAAP financial measurethat management believes to be most directly comparable.

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Supplemental Non-GAAP Data – Adjusted Margin Analysis

Three Months Ended

March 31, 2013

December 31, 2012

September 30, 2012

June 30, 2012

March 31, 2012

($ thousands)

Home sale revenues $ 1,099,752 $ 1,481,517 $ 1,232,704 $ 1,024,405 $ 813,786

Home sale cost of revenues 901,470 1,228,201 1,023,704 869,379 712,166

Home sale gross margin 198,282 253,316 209,000 155,026 101,620

Add:

Impairments (a) - 2,250 385 633 3,700

Capitalized interest amortization (a) 53,677 67,880 57,155 52,070 47,186

Adjusted home sale gross margin $ 251,959 $ 323,446 $ 266,540 $ 207,729 $ 152,506

Home sale gross margin as a percentage of home salerevenues 18.0% 17.1% 17.0% 15.1% 12.5%

Adjusted home sale gross margin as a percentage ofhome sale revenues 22.9% 21.8% 21.6% 20.3% 18.7%

(a) Write-offs of capitalized interest related to impairments are reflected in capitalized interest amortization.

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Questions

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