MDC Holdings

M.D.C. Holdings, Inc. ("MDC"), one of the leading homebuilders in the U.S. delivering high-quality homes over the past 50 years and a subsidiary of Sekisui House, Ltd. ("Sekisui House"), a top-tier house manufacturer in Japan having delivered over 2.66 million homes worldwide since its establishment, announced today that Larry A. Mizel, MDC's Founder and Executive Chairman, and David D. Mandarich, MDC's President and Chief Executive Officer, will depart the Company on December 31, 2024. M.D.C. Holdings, Inc. was founded in 1972. MDC's homebuilding subsidiaries, which operate under the name Richmond American Homes, have helped more than 250,000 homebuyers achieve the American Dream since 1977. One of the largest homebuilders in the nation, MDC is committed to quality and value that is reflected in each home its subsidiaries build. The Richmond American companies have operations in Alabama, Arizona, California, Colorado, Florida, Idaho, Maryland, Nevada, New Mexico, Oregon, Tennessee, Texas, Utah, Virginia and Washington. Mortgage lending, insurance and title services are offered by the following MDC subsidiaries, respectively: HomeAmerican Mortgage Corporation, American Home Insurance Agency, Inc. and American Home Title and Escrow Company. Sekisui House is a top-tier house manufacturer in Japan, engaging in custom detached houses, rental housing, architectural/civil engineering, remodeling, real estate management, houses for sale, condominiums, urban redevelopment and overseas business, with a global vision to "Make Home the Happiest Place in the World". Having delivered over 2.66 million homes worldwide since its establishment (as of January 31, 2024), Sekisui House has footprints in Japan, the U.S., Australia, and Singapore. Sekisui House also aims to contribute to solving environmental and social issues as a leading company in ESG management through providing homes.