NMHC Names Toll Brothers Apartment Living® One of

FORT WASHINGTON, Pa., May 05, 2022 (GLOBE NEWSWIRE) — Toll Brothers Apartment Living®, the rental division of Toll Brothers, Inc. (NYSE: TOL), the nation’s leading luxury home builder, has been named the ‘one of the largest multifamily developers in the United States by the National Multifamily Housing Council (NMHC) 2022 NMHC 50, the annual ranking of the nation’s largest apartment owners, managers, developers, builders and syndicators. Toll Brothers Apartment Living is now ranked the 11th largest multi-family developer in the United States, with 3,621 units started in the year 2021.

“We are extremely honored to be recognized as one of the nation’s top multi-family developers,” said Charles Elliott, President of Toll Brothers Apartment Living. “This ranking underscores the extraordinary results of our national growth strategy, helping us attract and retain the best in the multifamily industry in many of the key markets in which we grow.”

The number of units started in 2021 by Toll Brothers Apartment Living represents a 416% increase over the previous year; the largest single-year period of growth in the company’s history. In addition to significant growth, the company launched projects in more markets than ever before, continuing to expand its national platform.

This year marks the 33rd NMHC Top 50 List edition. NMHC partners with Kingsley Associates, a leading real estate research and consultancy firm for NMHC 50s research and analysis. All apartment owners, managers, developers, builders and union members are invited to complete a survey questionnaire that asks them about their activities in the previous year. Apartment owners, managers and syndicates are ranked by their portfolio holdings (owned or managed) as of January 1, 2022, while developers and builders are ranked by the number of units started in 2021. For more details on the NMHC 50, visit nmhc.org/The-NMHC-50/.

ABOUT TOLL BROTHERS APARTMENT LIVING®

Toll Brothers Apartment Living is the apartment development division of Toll Brothers, Inc. (NYSE: TOL), a FORTUNE 500 award-winning company and the nation’s leading luxury home builder. Toll Brothers Apartment Living brings the same quality, luxury and service that Toll Brothers is known for to its exceptional rental and mixed-use communities in select markets including Atlanta, Boston, Dallas, Los Angeles, New York, Philadelphia , Phoenix and Washington D.C. Toll Brothers Apartment Living communities combine the energy of vibrant locations with unparalleled amenities, resident services, design and the expertise of America’s Luxury Home Builder®. In 2022, the NMHC ranked Toll Brothers Apartment Living as the 11th largest apartment developer in the United States. Today, the company has developed nearly 8,500 units, has nearly 4,500 units under management, and controls a nationwide pipeline of more than 20,500 units. For more information, visit TollBrothersApartmentLiving.com.

ABOUT TOLL BROTHERS

Toll Brothers, Inc., a FORTUNE 500 company, is the nation’s leading builder of luxury homes. The company was founded 55 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 home, moving, empty nest, working adult and second home buyers, as well as urban and suburban renters. Toll Brothers builds in over 60 markets 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 the District of Columbia. The Company operates its own architectural, engineering, mortgage, title, land development, golf course development, smart home technology and landscaping subsidiaries. The Company also operates its own lumber distribution, home component assembly and manufacturing businesses.

Toll Brothers was named the World’s Most Admired Home Builder in FORTUNE magazine’s 2022 survey of the World’s Most Admired Companies®, the seventh year it has been so honored. Toll Brothers was also named Builder magazine’s Builder of the Year and is the first two-time recipient of Professional Builder magazine’s Builder of the Year award. 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, results and other press releases, in the Investor Relations section of its website (investors.TollBrothers.com).

©2022 Fortune Media IP Limited. All rights reserved. Used under license. Fortune and Fortune Media IP Limited are not affiliated with, and do not endorse the products or services of, Toll Brothers

ABOUT THE NATIONAL MULTI-FAMILY HOUSING COUNCIL

Based in Washington, DC, the National Multifamily Housing Council (NMHC) is the leader in the trillion dollar apartment industry. We bring together the leading owners, managers and developers who help build thriving communities by providing apartments for 40 million Americans. NMHC provides a forum for reflection, advocacy and action that enables both members and the communities they help build to thrive. For more information, visit nmhc.org.

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