Taylor Morrison Extends Stock Repurchase Program, Adds $50M

Taylor Morrison Home Corporation TMHC (the "Company") today announced that its Board of Directors has authorized an extension of its stock repurchase program until December 31, 2016. The stock repurchase program, which was due to expire on December 31, 2015, permits the repurchase of up to $50 million of the Company's Class A Common Stock in open market purchases, privately negotiated transactions or other transactions. As of December 14, 2015, the Company had repurchased 490,479 shares of its Class A Common Stock pursuant to the stock repurchase program since the program's inception in November 2014. Taylor Morrison "Our stock repurchase program demonstrates our commitment to our multi-faceted approach for allocating capital," said Sheryl Palmer, President and CEO. "We applied our disciplined method of evaluating available investment strategies and determined that the market provided us with a compelling reason to acquire our stock at an attractive valuation. We believe that extending the program through the end of next year will give us ongoing flexibility to act on an opportunistic basis while we remain focused on profitably growing our business." The stock repurchase program is subject to prevailing market conditions and other considerations, including the Company's liquidity, the terms of its debt instruments, planned land investment and development spending, acquisition and other investment opportunities and ongoing capital requirements.