Market Overview

KB Home Announces the Grand Opening of Pennington Ranch in Live Oak

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Homebuilder debuts charming collection of Sacramento-area new homes;
priced from the mid-$200,000s

KB Home (NYSE:KBH) today announced the grand opening of Pennington
Ranch, an enclave of one- and two-story new homes in the beautiful city
of Live Oak. Located in northern Sutter County, Live Oak offers an
exquisite blend of serene small town living with convenience to local
employment centers in Roseville, Rocklin, Lincoln and downtown
Sacramento.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180904005154/en/

New KB homes now available at Pennington Ranch in Live Oak. (Photo: Business Wire)

New KB homes now available at Pennington Ranch in Live Oak. (Photo: Business Wire)

Surrounded by idyllic farmland, orchards and buttes along the Highway 99
corridor between Yuba City and Chico, KB Home's Pennington Ranch offers
easy access to San Francisco, Lake Tahoe, and Sacramento. Residents can
enjoy nearby Feather River and local parks that provide abundant
recreational opportunities. Pennington Ranch is also close to desirable
schools and several colleges, including Butte College in Oroville,
California State University, Chico, Sierra College in Rocklin and Yuba
College in Marysville.

KB Home will host a grand opening celebration at Pennington Ranch on
Saturday, September 8, from 11:00 a.m. to 2:00 p.m., during which
attendees may tour the elegantly-appointed model homes.

At Pennington Ranch, KB Home will be constructing 97 one- and two-story
homes and offering three distinct floor plans. With up to five bedrooms
and three bathrooms and ranging in size from 1,718 to 2,376 square feet,
the KB homes at Pennington Ranch feature such desirable design
characteristics as spacious dens or loft spaces, master walk-in closets,
and dedicated laundry rooms. Pricing begins in the mid-$200,000s.

The homes at Pennington Ranch will be built to current ENERGY STAR®
guidelines and include WaterSense® labeled faucets and fixtures, meaning
they are designed to be more energy- and water-efficient than most
typical new and resale homes available in the area. These energy- and
water-saving features are estimated to save KB homebuyers between $1,620
to $1,848 a year in utility costs, depending on the floor plan.

As part of KB Home's distinct homebuilding process, homebuyers may
select their lot, floor plan, and personalize many aspects of their new
home to suit their budget and preferences. Expert design consultants are
available to guide KB homebuyers through every aspect of the design
process at the KB Home Design Studio, a retail-like showroom where they
may select from a plethora of design and décor choices including
flooring, countertops, cabinets, lighting, appliances and window
coverings.

The Pennington Ranch sales office is located at 9963 Luther Road in Live
Oak. The sales office is open Thursdays through Tuesdays from 10:00 a.m.
to 6:00 p.m. and on Wednesdays from 2:00 p.m. to 6:00 p.m. For more
information about Pennington Ranch or KB Home's other Sacramento-area
new home neighborhoods, visit www.kbhome.com
or call 888-KB-HOMES.

About KB Home

KB Home (NYSE:KBH) is one of the largest homebuilders in the United
States, with more than 600,000 homes delivered since our founding in
1957. We operate in 35 markets in seven states, primarily serving
first-time and first move-up homebuyers, as well as active adults. We
are differentiated in offering customers the ability to personalize what
they value most in their home, from choosing their lot, floor plan, and
exterior, to selecting design and décor choices in our KB Home Studios.
In addition, our industry leadership in sustainability helps to lower
the cost of homeownership for our buyers compared to a typical resale
home. We take a broad approach to sustainability, encompassing energy
efficiency, water conservation, healthier indoor environments, smart
home capabilities and waste reduction. KB Home is the first national
builder to have earned awards under all of the U.S. EPA's homebuilder
programs — ENERGY STAR®, WaterSense® and Indoor airPLUS®. We invite you
to learn more about KB Home by visiting www.kbhome.com,
calling 888-KB-HOMES, or connecting with us on Facebook.com/KBHome
or Twitter.com/KBHome.

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