M.D.C. Holdings Stockholders Approve Transaction With Sekisui House; MDC Stockholders Will Receive $63.00 Per Share In Cash

M.D.C. Holdings, Inc. ("MDC") (NYSE: MDC), today announced that its stockholders have approved a proposal to adopt the merger agreement entered into between MDC and Sekisui House, Ltd. ("Sekisui House") at its Special Meeting of Stockholders. As previously announced, under the terms of the agreement, MDC stockholders will receive US$63.00 per share in cash in connection with the closing of the transaction. MDC expects to complete the transaction in the second quarter of 2024, subject to the satisfaction of customary closing conditions.

Larry Mizel, Founder and Executive Chairman and David Mandarich, President, CEO and Director of MDC said, "We appreciate our stockholders' support of this transaction and look forward to our next chapter as a part of Sekisui House. We would also like to thank all of our team members for their unwavering focus as we move closer to becoming part of the Sekisui House family and a top five homebuilder in the United States."

Approximately 99.8% of the votes cast at the Special Meeting were voted in favor of adopting the merger agreement. MDC will disclose the final vote results, as certified by the independent inspector of elections, on a Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission.