Toll Brothers Announces Chairman Emeritus Transition

Toll Brothers, Inc. (“Toll Brothers” or the “Company”), the nation’s leading builder of luxury homes, today announced that co-founder Robert I. Toll has chosen not to stand for re-election to the Board of Directors at the Company’s March 8, 2022 meeting of stockholders. He will continue to serve the Company as Chairman Emeritus and, in that role, will be invited to attend board meetings and continue to provide support and advice to the Company.

In 1967, at the age of 26, Bob Toll along with his brother Bruce founded Toll Brothers, Inc. From the Company’s inception through 2010, he led the Company as Chairman and Chief Executive Officer and has overseen its growth from its roots as a local southeastern Pennsylvania builder to its current position as America’s leading luxury home builder and a Fortune 500 company, with operations in over 60 markets across 24 states.

Douglas C. Yearley, Toll Brothers’ Chairman and Chief Executive Officer, stated: “Bob’s vision, exceptional business skills, and tremendous leadership abilities were integral to turning Toll Brothers into a world class home builder. I’m tremendously grateful for the opportunity he presented me over thirty years ago when I joined the Company, and I am confident that the knowledge, guidance and counsel that he has imparted to our management team will continue to positively impact the Company for years to come.”

Robert I. Toll stated: “While I felt it was time to step back from a formal Board role at Toll Brothers, my interest in the Company remains strong. I am extremely proud of what has been accomplished by Doug and his team since I stepped down as CEO nearly twelve years ago. Since my brother and I founded the Company 55 years ago, it has grown from a small Philadelphia homebuilder to a branded national presence as America’s Luxury Home Builder. Along the way, we built a strong organization of dedicated, motivated associates with a culture devoted to our customers. I look forward to the continued growth of the Company and providing support and advice to management and the Board in the future.”

About Toll Brothers

Toll Brothers, Inc., a FORTUNE 500 Company, is the nation’s leading builder of luxury homes. The Company was founded over 50 years ago in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol “TOL.” The Company serves first-time, move-up, empty-nester, active-adult, and second-home buyers, as well as urban and suburban renters. Toll Brothers builds in 24 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington, as well as in the District of Columbia. The Company operates its own architectural, engineering, mortgage, title, land development, golf course development, smart home technology, and landscape subsidiaries. The Company also operates its own lumber distribution, house component assembly, and manufacturing operations. 2021 marks the 10th year Toll Brothers has been named to FORTUNE magazine’s World’s Most Admired Companies® list. Toll Brothers has also been honored as Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year by Professional Builder magazine. For more information visit TollBrothers.com. Toll Brothers discloses information about its business and financial performance and other matters, and provides links to its securities filings, notices of investor events, and earnings and other news releases, on the Investor Relations section of its website investors.TollBrothers.com.

Contact:

Frederick N. Cooper – (215) 938-8312 – fcooper@tollbrothers.com

Source: Toll Brothers, Inc.