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BOB’S BULLETIN

A few weeks ago, I was comparing notes with the Division President of one of our competitors. During our conversation, he made a comment: “This is the hardest this business has ever been!”

I agreed and then caught myself and asked you’re young, but were you here 2008 - 2011? He laughed and immediately knew where I was going

There’s no question that today’s market is challenging. Affordability remains stretched. Interest rates continue to hover just out of reach, impacting buyer demand Customers are taking longer to make decisions, have the challenge of selling their own homes, etc Every sale feels harder earned than it did a few years ago

But difficult and unprecedented are not the same thing. Many of us lived through the Great Recession. We experienced a time when buyers disappeared, financing evaporated, projects stalled, foreclosures dominated the news and the market, and uncertainty permeated nearly every aspect of the business Long standing successful trade partners disappeared Careers changed overnight

Today’s environment presents a different set of challenges, but we’re still doing what we do best: selling homes, building homes, serving customers, and generating profits Are volumes lower than we’d like? Yes Are margins tighter than we’d prefer? Absolutely But we’re still moving forward That perspective matters One thing I’ve learned over the years is that our industry is cyclical Markets rise, cool off, and recover Conditions change What feels permanent in the moment rarely is As we head into another Phoenix summer, we’re reminded of that lesson every day In June, it’s hard to imagine cooler temperatures. By August, it feels like the heat may never end. Yet every morning brings us one day closer to fall. The housing market works much the same way

Every day we’re one day closer to improved affordability, greater consumer confidence, and stronger market conditions We don’t know exactly when the next upswing will arrive, but history tells us it will Until then, our job is simple: focus on what we can control, continue executing at a high level, and keep finding ways to win in the market we’re given

The teams that stay focused during challenging cycles are the ones best positioned when conditions improve And if there’s one thing I’ve learned from watching this Company and our Division over the years, it’s that this group knows how to do exactly that!

Bob Flaherty

Bob Flaherty Group President, Arizona

EMPLOYEE SPOTLIGHT

Mikka Kathlean | Purchasing Manager

WHAT IS YOUR FAVORITE PART ABOUT YOUR JOB? I enjoy building relationships with Trade Partners There’s a bit of both fun and pride in finding solutions in building aspects and in pricing that benefit both parties and make working together an asset for all parties.

WHAT IS SOMETHING YOU ARE MOST PROUD OF? My biggest pride is my family My boys are growing into some incredible individuals and it’s awesome to watch all the years of hard work, sacrifice, and spoiling come together into these really cool people.

WHAT KIND OF MUSIC DO YOU LIKE? My musical taste is pretty eclectic, but it’s got to be upbeat My favorites are old school hip hop/rap (think 80s and early 90s) and lyrical EDM dance music.

WHAT IS THE BEST PIECE OF ADVICE YOU HAVE BEEN GIVEN? Perfection is boring… because you miss a lot of the great things if you are too busy striving for perfection to see the accomplishments already achieved

WHAT IS YOUR FAVORITE WEEKEND ACTIVITY? Our weekend free time is most often spent either at a motocross track or listening to live music.

PROMOTIONS, NEW HIRES & MILESTONE ANNIVERSARIES

Insco, Sr. Vice President of Land Development

Aaron

EMPLOYEE SPOTLIGHT

Deb Baca | Area Sales Manager

WHAT IS YOUR FAVORITE PART ABOUT YOUR JOB? I enjoy coaching the team and celebrating their wins!

WHAT IS SOMETHING YOU ARE MOST PROUD OF? I am most proud of my kids

WHAT KIND OF MUSIC DO YOU LIKE? All types of music are amazing!

WHAT IS YOUR FAVORITE WEEKEND ACTIVITY? I love taking hikes with my family on the weekends.

WHAT IS YOUR FAVORITE ACTIVITY TO DO LOCALLY? I recently moved to Phoenix and am looking forward to finding out what it has to offer

WHAT IS YOUR FAVORITE FAMILY TRADITION? Our family game night every Friday

WHAT STORE ARE YOU MOST LIKELY TO MAX OUT YOUR CREDIT CARD IN? Nordstrom.

KEYSTONE AWARD WINNER KEYSTONE AWARD WINNER

Sierra Mariscal's 10-year journey with our company is a true reflection of growth, heart, and dedication. She began as our receptionist, where she created warm first impressions and set the tone for every guest experience. From there, she moved into the role of Purchasing Coordinator. Today, she continues to grow as our Options Manager a testament to her commitment to learning, improving, and always striving to be the best

Sierra naturally takes care of others. She is always willing to help teammates, answer questions, or step in when support is needed. She frequently suggests new ideas to strengthen team engagement and is often the first to recommend we celebrate national holidays or find creative ways to bring people together continuously creating value beyond her job description.

No matter her title, Sierra has never lost her service mindset. If she walks through the front door at the same time as a guest, she still greets them with the same welcoming smile and helpful demeanor she had as a receptionist She understands that every interaction matters and consistently delights both internal and external customers

After a decade with the company, Sierra honors our history while actively shaping our future. Her growth within the organization, her pride in our culture, and her unwavering team-first attitude make her a true example of what the Keystone Award represents.

The Keystone Award was presented to Sierra by her manager, Rob Rasmussen, during a celebration with her department and the Division Office.

COMING SOON COMMUNITIES COMING SOON COMMUNITIES

Offering picturesque mountain views, amenities, and a dynamic location, Toll Brothers at Cavasson is a new community of luxury condos in Scottsdale featuring striking design options, private rooftop terraces, and quick access to major roadways.

Toll Brothers at Saddleback is a new home community in Peoria, offering two collections of stunning single-story designs within a vibrant master-planned community showcasing picturesque desert surroundings and a variety of engaging amenities.

Toll Brothers at Cavasson | Fall 2026

Toll Brothers at Saddleback | Late 2026

CUSTOMER CARE CUSTOMER CARE

TEAM HIGHLIGHTS TEAM HIGHLIGHTS

The Customer Care Team is excited to share that they have officially reduced their overall service ticket count to below 2,000 tickets – a milestone that reflects the hard work, dedication, and commitment that each team member brings every day.

Over the past three years, the team has successfully resolved more than 106,000 homeowner service requests!

Total Tickets Closed: 270 (New) – 382 (Closed) = 112 Net Closed

Total Active Tickets: 1,993 Tickets

Average Resolution Time (12 Months): 54.9

Average Resolution Time (90 Days): 56.1

Top Ticket Closers (Customer Care): Tabitha Rodriguez, Amy Jones, Cesar Moran

Top Ticket Closers (Production): Elissa Meihsner, Derrik Jensen, Jason Crouch

DIVISION OFFICE & DESIGN STUDIO

RENOVATIONS

Exciting changes are underway! The Scottsdale Division Office and Scottsdale Design Studio are currently closed as they undergo renovations designed to create updated, more functional, and welcoming spaces for both our team and our homebuyers. Construction is anticipated to be completed in September, and we look forward to reopening the refreshed locations soon.

Take a sneak peek at what's ahead by exploring the floor plans below we can't wait to share the finished spaces with everyone!

*The Division Office currently has a small temporary space in Suite 195. Please contact Corrine if you have any needs from the Division Office during this time.