Forestar Investor Presentation EnerComs The Oil & Gas Conference 18 August 14, 2013 Building Momentum By Accelerating Value Realization, Optimizing Transparency and Growing Net Asset Value
Notice To Investors This presentation contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are typically identified by words or phrases such as will, anticipate, estimate,…
Maximizing Long-Term Shareholder Value 3
Execution of Initiatives and Strategic Acquisitions Positions Forestar With Stronger Portfolio of Assets Assets and Resources Q2 2013 Land - 133,000 acres, principally low basis land Real Projects - 93 (10 states and 14 markets)…
Oil and Gas Building Momentum By Driving Leasing and Exploration to Increase Production and Reserves 5
Mineral Interests Located In Prolific Oil & Gas Basins Over 800,000 net mineral acres located in Williston (Bakken / prolific oil and gas basins Three Forks) Denver Julesburg Central Uplift Appalachian Basin Basin 590,000 net…
Recognizing and Responsibly Delivering the Greatest Value From Our Mineral Resources Minerals Acres 1 Activity Greatest Value Production - Reserves Working and Royalty Interests 69,000 Held By Production VALUE CREATION &…
Evaluating Over 290,000 Acres For Oil and Natural Gas Prospects and Promotion Rodessa Pettet 2,000 acres Target Specific Zones and 24,000 acres Oil / NGLs / Natural Gas Oil / NGLs / Natural Gas Formations For Prospect Generation…
FELINE20132013RoadshowFeb 2013 ForestarRoadshow v13.pptx Bakken Provides Significant Value Creation Potential 7,000 net mineral acres in core of Bakken & Three Forks Bakken / Three Forks Fort Berthold Reservation Bakken / Three Forks…
Bakken / Three Forks Drilling Activity Accelerating Production and Reserve Growth 2013 Activity Gross Wells Bakken / Three Forks 80 Proved Developed Producing Wells Producing at End Q2 53 70 Wells Added in Q2 7 +43 60 Producing…
North Dakota Bakken / Three Forks Play Area Second Quarter Wells with Initial Production: Showing Strong IP Rates Bakken / Three Forks Legend WPX State of ND 10-3HC Forestar Spacing Unit FOR : 3.04% IP : 1,928 BOEPD Forestar…
Bakken / Three Forks Production and Type Curves Forestar Bakken/Three Forks Cumulative Production from 350 53 Proved Developed Producing Wells 300 Well Level EUR IRR (Mbo) 250 Average 600 57% Type Curve Cumulative MBO…
Kansas and Nebraska Exploration Model Scalable Investment Opportunity with Solid Returns Kansas / Nebraska Leasehold Interests Kansas / Nebraska Net Mineral Acres 164,000 Proved Developed Producing Wells 100 +8 Net Mineral Acres…
Accelerating Value Realization and Growing Net Asset Value Capitalizing on investments to accelerate earnings and cash flow Total Annual Production* (MBOE) Increasing oil production and 1,200 proven reserves Focused on integration…
Real Estate Building Momentum By Accelerating Lot Sales and Growing Net Asset Value through Strategic and Disciplined Investments 16
Delivering The Greatest Value From Every Acre of Our Real Estate Real Estate Pipeline Activity Uses Financials 2 Greatest Value (Acres) 1 Development 2,000 1,008 residential acres 3,204 lots 50K per lot 767 commercial acres 90K…
Texas Markets Represent Almost 70% of our Investment in Real Estate Salt Lake City 1 - 1 Kansas City 1 - 3 Oakland 1 - 9 Nashville 2 - 19 Los Angeles Charlotte 2 - 16 1 - 6 Atlanta Denver 31 - 87 5 - 25 Austin 14 -…
Core Real Estate Business Strengthening Forestar Real Estate Revenues (Excluding Timberland & Multifamily Property Sales) 40.0 50.0 Accelerating Value Realization Growing lot sales and margin 40.0 30.0 Average Lot Margin (…
Triple in FOR Initiatives Building Momentum By Accelerating Value Realization, Optimizing Transparency and Growing Net Asset Value 20
Execution of Triple in FOR Initiatives Putting EBITDA Points on the Board Triple in FOR Initiatives Focus on Accelerating Value Realization Optimize Transparency & Disclosure Raise NAV Through Strategic and Disciplined Investments…
Forestar Investor Presentation For Questions Anna Torma Forestar Group Inc. Please Contact: SVP Corporate Affairs 6300 Bee Cave Road Building Two, Suite 500 Austin, TX 78746 512-433-5312 annatormaforestargroup.com 22
Reconciliation of Non-GAAP Financial Measures (Unaudited) Forestars Total Segment EBITDA for the quarters ended June 30, 2013 and March 31, 2013 and for the years ended December 31, 2012, 2011, 2010, 2009 and 2008 are non-GAAP financial…
Forestar Investor Presentation For Questions Anna Torma Forestar Group Inc. Please Contact: SVP Corporate Affairs 6300 Bee Cave Road Building Two, Suite 500 Austin, TX 78746 512-433-5312 annatormaforestargroup.com 24
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