Material Agreement Form 8 K

On October 28, 2024, Forestar Group Inc. (the "Company") and D.R. Horton, Inc. ("D.R. Horton") entered into an Amended and Restated Stockholder's Agreement, dated as of October 28, 2024 (the "A&R Stockholder's Agreement"), which amends and restates the Stockholder's Agreement, dated as of June 29, 2017, between the Company and D.R. Horton (the "Original Stockholder's Agreement").

The Original Stockholder's Agreement provided that (i) the Investment Committee (as defined in the Stockholder's Agreement) of the Company is vested with sole responsibility over investment decisions involving, in any single transaction or a series of related transactions, Capital Expenditures (as defined in the Stockholder's Agreement) of $20,000,000 or less, and (ii) prior written consent of D.R. Horton is required before the Company acquires (including by way of merger, exchange offer, recapitalization, reorganization, liquidation or dissolution) any business, debt or equity interests, operations or assets of any person, or makes any investment in or loan to any person, in any single transaction or series of related transactions, involving Capital Expenditures (as defined in the Stockholder's Agreement) in excess of $20,000,000. These provisions are also included in the Company's Second Amended and Restated Certificate of Incorporation (the "Charter").

The A&R Stockholder's Agreement increases each of the $20,000,000 thresholds described above (each, an "Approval Threshold") to $45,000,000, subject to an annual increase on the last Tuesday of September or, if the Case-Shiller Index Change (as defined below) has not been published as of such date, such later date that the Case-Shiller Index Change for the relevant period is published (each such date, an "adjustment date") by an amount equal to the product of (A) the one-yearpercentage change reported in the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index (the "Case-Shiller Index Change") for the one-yearperiod ending July 31 of the then-current calendar year, expressed as a decimal and (B) the Approval Threshold in effect immediately prior to the applicable adjustment date. Any adjustments to the Approval Threshold shall be rounded to the nearest $100,000. If the Case-Shiller Index Change is negative for any such annual period, there shall be no adjustment, and the then-current Approval Threshold shall remain in effect until the next adjustment date. The Company intends to submit a proposal to amend the Charter consistent with the amendments made in the A&R Stockholder's Agreement to the Company's stockholders for approval at the Company's 2025 Annual Meeting of Stockholders (the "Charter Amendment"). Until the Company's stockholders approve the Charter Amendment, the current provisions of the Charter will remain in effect notwithstanding the entry into the A&R Stockholder's Agreement.

The A&R Stockholder's Agreement is filed as Exhibit 10.1 to this Form 8-Kand is incorporated into this Item 1.01 by reference. Other than as amended by the A&R Stockholder's Agreement, the provisions of the Original Stockholder's Agreement remain in effect. As of October 28, 2024, D.R. Horton owned approximately 62% of the Company's outstanding common stock. The section "Certain Relationships and Related Party Transactions" in the Company's Definitive Proxy Statement filed with the Securities and Exchange Commission on December 15, 2023 provides a description of other arrangements between the Company and D.R. Horton and such section is incorporated into this Item 1.01 by reference.