GREEN BRICK PARTNERS INVESTOR CONFERENCE PRESENTATION NOVEMBER 2017

FORWARD LOOKING STATEMENTS This presentation and the oral statements made by representatives of the Company during the course of this presentation that are not historical facts are forward-looking statements. These statements are often, but not always, made through the use of words or phrases such as “may,” “will,” “should,” “could,” “would,”“predicts,” “potential,” “continue,” “expects,” “anticipates,” “future,” “outlook,” “strategy,” “positioned,” “intends,” “plans,” “believes,” “projects,” “estimates”and similar expressions, as well as statements in the future tense. Although the Company believes that the assumptions underlying these statements arereasonable, individuals considering such statements for any purpose are cautioned that such forward-looking statements are inherently uncertain and necessarilyinvolve risks that may affect the Company’s business prospects and performance, causing actual results to differ from those discussed during the presentation, andany such difference may be material. Factors that could cause actual results to differ from those anticipated are discussed in the Company’s annual and quarterlyreports filed with the SEC. Any forward-looking statements made are subject to risks and uncertainties, many of which are beyond management’s control. These risks include the risksdescribed in the Company’s filings with the SEC. Should one or more of these risks or uncertainties occur, or should underlying assumptions prove incorrect, theCompany’s actual results and plans could differ materially from those expressed in any forward-looking statements. Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements. These forward-looking statements aremade only as of the date hereof. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new informationor future events. The Company presents Basic Adjusted EPS and Diluted Adjusted EPS and Basic and Diluted Adjusted weighted-average number of shares outstanding, Incomebefore taxes attributable to GRBK, Adjusted Homebuilding Gross Margin and EBIT. The Company believes these and similar measures are useful to managementand investors in evaluating its operating performance and financing structure. The Company also believes these measures facilitate the comparison of theiroperating performance and financing structure with other companies in the industry. Because these measures are not calculated in accordance with GenerallyAccepted Accounting Principles (“GAAP”), they may not be comparable to other similarly titled measures of other companies and should not be considered inisolation or as a substitute for, or superior to, financial measures prepared in accordance with GAAP. 2

MANAGEMENT PRESENTERS Jim Brickman Chief Executive Officer • Over 39 years in real estate development and homebuilding. • Co-founded JBGL with Greenlight Capital in 2008. JBGL was merged into Green Brick in 2014. • Previously served as Chairman and CEO of Princeton Homes and Princeton Realty Corp. Rick Costello Chief Financial Officer • Over 25 years of financial and operating experience in all aspects of real estate management. • Previously served as CFO and COO of GL Homes, as AVP of finance of Paragon Group and as an auditor for KPMG. 3

GREEN BRICK AT A GLANCE • Uniquely structured residential land development and homebuilding company Controlled Builders • We build and deliver homes through our controlled builders in which we own a 50%controlling interest as well as our investmentin unconsolidated builder partners • We sell lots and provide lot acquisition and vertical construction financing to ourcontrolled builders • Currently focused on the high growth metropolitan areas of Dallas, Atlanta andColorado Springs • Attractive land position of approximately 5,700 well-located residential lots as of September 30, Dallas CB JENI Normandy HomesSouthgate HomesCentre Living Homes Atlanta The Providence Group Products offered Townhomes, single familySingle family Luxury homes Townhomes, contractor on luxury homes Townhomes, single family, luxuryhomes 2017 • Over 81% of our residential lots are owned • Virtually all of our owned lots are owned at corporate level vs. at the controlled builderlevel Unconsolidated Builder Partners Colorado Products offered Challenger Homes Townhomes, single family 4

GRBK: A TRUE GROWTH STORY We have the strong balance sheet and operational excellence for continued growth Company records; 2017 is Last TwelveMonths as of 9.30.17 5

BUSINESS MODEL • Uniquely structured business model that maximizes profitability and returns • Three complementary revenue streams • Preserves upside and limits downside • Controlled ownership of local builders with strong local management teams Sale of Land to Controlled Builders Sale of Homes 6

CORPORATE STRUCTURE • We are a uniquely structured company that combines residential land development and homebuilding with strong sponsor ownership and controlling interests in our aligned homebuilders. 50% 50% 50% 50% 49.99% 100% 7

MANAGEMENT TEAM • Our management team is comprised of building and finance veterans with decades of experience in our core markets and expertise in capital allocation, land acquisition, entitlement, development, construction, marketing andhome sales • Strong institutional partnership with Greenlight Capital since inception Jim Brickman Founder, CEO, and Director 39+ years of experience Rick Costello Jed Dolson CFO President Texas Region 25+ years of experience 14+ years of experience (50%) (50%) (50%) (50%) (50%) (49.9%) Warren Jolly Bruno Pasquinelli Jay Hankla Trevor Brickman Brian Bahr President President President President President 30+ years of experience 30+ years of experience 20+ years of experience 10+ years of experience 20+ years of experience Rather than employing division presidents, we align ourselves with local partners with an ownership mentality 8

BALANCE SHEET STRENGTH GRBK has one of the lowest debt-to-capital ratios amongst public builders • GRBK net debt to capital is about 17% versus an average 40% for covered public builders • GRBK’s eventual target is approximately 35% Net Debt to Total Capital Q3 2017 Citi Research data for comparative companies isreported as of November 3,2017; “Net Debt” equalsTotal Debt minus Cash 9

FINANCIAL HIGHLIGHTS Quarter over Quarter Year over Year Last 12 Months Q3 2016 Q3 2017 Increase YTD 2016 YTD 2017 Increase 9/30/16 9/30/17 Increase Net New Home Orders 204 241 18% 683 798 17% 835 995 19% Home Closings - Units 196 235 20% 569 698 23% 763 973 28% Home Closing Revenues $87.8 $108.4 23% $248.2 $302.2 22% $323.3 $419.2 30% Ending Active Selling Communities 49 56 14% Homes Under Construction 665 715 8% Homes Started 886 1023 15% Adjusted Homebuilding Gross Margin 22.7% 22.4% 22.3% 22.2% 22.0% 23.0% Dollar Value of Backlog $138.7 $164.6 19% Pre-Tax Income - GRBK $9.9 $14.6 48% $25.3 $36.7 45% EBIT - GRBK $10.4 $15.3 47% $27.6 $39.2 42% EBIT - GRBK as % of Home Revenues 11.9% 14.1% 11.1% 13.0% Total Lots Owned & Controlled 5,069 5,697 12% 10

OPERATIONAL HIGHLIGHTS LTM Adjusted Gross Margins LTM Home Building Revenues (in millions) 11

MARKET UPDATE The housing market is being under supplied • Demand is there; the new challenge is building new homes that buyers want in locations they can afford. 12

MARKET UPDATE Housing starts are highly correlated to jobs and we build in two of the highest job growth markets National Economic Overview Top Job Growth Markets Ranked by Change in Employment - August 2017 Source: Metrostudy - MetroUSA 13

MARKET UPDATE We are less than 2.0% of the starts in two of the largest housing markets, giving us significant opportunity for growth National Economic Overview Top Metrostudy CBSAs - Ranked by Annual Starts GRBK has also entered the Colorado Springsmarket (see #6) through our investment in Challenger Homes Source: Metrostudy - MetroUSA 14

MARKET UPDATE Dallas market continues 6-year expansion but is still well below prior peak Dallas/Fort Worth Market SFD-TH - Starts and closings 45,000 Annual Starts Annual Closings 40,000 35,000 31,911 30,000 30,496 25,000 20,000 15,000 10,000 5,000 Source: Metrostudy - MetroUSA - 3Q07 3Q08 3Q09 3Q10 3Q11 3Q12 3Q13 3Q14 3Q15 3Q16 3Q17 15

MARKET UPDATE GRBK has almost 4,100 lots in Dallas where the market continues its 7-year trend of constrained supply Dallas/Fort Worth Market Lot Inventory 100,000 90,000 80,000 70,000 60,000 50,000 40,000 30,000 20,000 10,000 0 3Q07 3Q08 3Q09 3Q10 3Q11 3Q12 3Q13 Vacant Developed Lots 80.0 Annual Starts VDL Months of Supply 70.0 60.0 50.0 40.0 49,677 30.0 18.7 20.0 10.0 0.0 3Q14 3Q15 3Q16 3Q17 Source: Metrostudy - MetroUSA 16

MARKET UPDATE The Atlanta market also continues to expand but is still well below prior peak Atlanta Region 16-Year Historic Annual Construction Starts and Closings 2Q06 Peaked 72% of activity is in North Atlanta where GRBK builds. 23,484 +10% 21,745+10% Source: Metrostudy - MetroUSA 17

INTRODUCTION TO CHALLENGER HOMES • On August 15, 2017, GRBK acquired a 49.9% ownership of Challenger Homes, effective August 1, 2017 • With this investment in an unconsolidated subsidiary, Green Brick has expanded into Colorado Springs andthe Pikes Peak Region: • In January 2017, Forbes declared the region one of the “10 Hottest Real Estate Markets to Watch” • In February 2017, Colorado Springs nabbed the No. 2 spot in U.S. News and World Report’s ranking of the “Most Desirable Places to Live” in2017 • In the 2 months ending Sep 30, 2017, Challenger generated $22.0 million in revenues and $1.9 incomebefore taxes; GRBK’s share of pre-tax income is 49.9% • Challenger Homes owns more than 1,800 home sites and controls more than 4,000 lots 18

KEY INVESTMENT HIGHLIGHTS ✓ Experienced management team with strong institutional sponsorship ✓ Uniquely structured business model that maximizes profitability and returns✓ Focused, actionable and profitable operating strategy • Adjusted gross building margins LTM as of Sep 30 2017 of 23.0% (after commissions of 4.0%) • Year-to-date 2017 EBIT as % of home revenues of 13.0% • Year-to-date 2017 EBIT return on average equity of 12.9% (see Growth Story, pg. 5) ✓ Currently focused on high growth metropolitan areas of Dallas, Atlanta and Colorado Springs✓ Attractive land positions in core markets ✓ Pursuing the acquisition of builders in our core or new markets ✓ Disciplined investment approach coupled with strong land sourcing and evaluation capabilities✓Strong balance sheet with flexibility to prudently employ leverage to fund growth 19

NON-GAAP RECONCILIATION Adjusted EPS Reconciliation Three Months Ended Nine Months Ended (Unaudited, in thousands, except per share amounts) Sept 30, 2017 Sept 30, 2017 Basic adjusted EPS Net income attributable to Green Brick - basic $9,280 $23,165 Income tax provision attributable to Green Brick $5,336 $13,540 Pre-tax income $14,616 $36,705 Adjusted weighted-average number of shares outstanding - basic 49,808 49,274 Basic adjusted EPS $0.29 $0.74 Diluted adjusted EPS Net income attributable to Green Brick - diluted $9,280 $23,165 Income tax provision attributable to Green Brick $5,336 $13,540 Pre-tax income $14,616 $36,705 Adjusted weighted-average number of shares outstanding - diluted 49,883 49,344 Diluted adjusted EPS $0.29 $0.74 20

NON-GAAP RECONCILIATION Adjusted Homebuilding Gross Margin Reconciliation 12 Months 12 Months 12 Months 12 Months 12 Months Ended Ended Ended Ended Ended (Unaudited, in thousands) Sep 30, 2016 Dec 31, 2016 Mar 31, 2017 June 30, 2017 Sept 30, 2017 Sale of Residential UnitsHomebuilding gross margin Add back: Capitalized Interest charged to costof sales Adjusted homebuilding gross margin Adjusted gross margin percentage (Unaudited, in thousands) Sale of Residential UnitsHomebuilding gross margin Add back: Capitalized Interest charged to costof sales Adjusted homebuilding gross margin Adjusted gross margin percentage $323,259 $365,164 $67,684 $81,710 $3,483 $2,814 $71,167 $84,524 22.0% 23.1% 3 Months 9 Months Ended Ended Sep 30, 2016 Sep 30, 2016 $87,827 $248,187 $19,477 $53,186 $426 $2,051 $19,903 $55,237 22.7% 22.3% $391,933 $398,546 $419,156 $87,922 $89,429 $93,637 $2,441 $2,492 $2,639 $90,363 $91,921 $96,276 23.1% 23.1% 23.0% 3 Months 9 Months Ended Ended Sep 30, 2017 Sep 30, 2017 $108,437 $302,179 $23,685 $65,113 $573 $1,876 $24,258 $66,989 22.4% 22.2% 21

NON-GAAP RECONCILIATION EBIT Reconciliation 3 Months 9 Months 3 Months 9 Months Ended Ended Ended Ended (Unaudited, in thousands) Sep 30, 2016 Sep 30, 2016 Sep 30, 2017 Sep 30, 2017 Sale of Residential Units $87,827 $248,187 $108,437 $302,179 Net income attributable to Green Brick - basic $6,243 $16,080 $9,280 $23,165 Add back: Income tax provision attributable to Green Brick $3,624 $9,260 $5,336 $13,540 Add back: Capitalized Interest charged to cost of sales $546 $2,247 $716 $2,486 EBIT - GRBK $10,413 $27,587 $15,332 $39,191 EBIT - GRBK as a percentage of Home Sale Revenues 11.9% 11.1% 14.1% 13.0% 22

2805 North Dallas Parkway, Suite 400 Plano, TX 75093 www.greenbrickpartners.com 23