Taylor Morrison Adds to Board

Privately owned homebuilder Taylor Morrison has added Tim Eller and Valerus CEO Peter Lane to its board. As chairman, Eller succeeds Rajath Shourie of Oaktree Capital and Kelvin Davis of TPG Capital, who served as co-chairs. Both Shourie and Davis will remain as directors. The company is based in Scottsdale, Ariz.

PRESS RELEASE
Taylor Morrison, the largest North American privately owned homebuilder in the U.S., announced today that home building industry veteran Tim Eller and Valerus CEO Peter Lane are joining its board of directors, with Eller to serve as chairman of the board.

As chairman, Eller succeeds Rajath Shourie of Oaktree Capital and Kelvin Davis of TPG Capital, who served as co-chairs. Both Shourie and Davis will remain as directors, while Avi Banyasz of TPG has resigned his seat on the board.

“We’re very pleased to add Tim and Peter to our board of directors,” said Taylor Morrison President and CEO Sheryl Palmer. “Their knowledge and industry experience will prove to be invaluable assets as we continue to capitalize on market opportunities and grow our U.S. and Canadian operations.”

With more than 40 years of industry experience, Eller currently serves as principal of Cordalla Capital, LLC, directing major investments in real estate and related businesses. He is also CEO of Tegrity Homes, Cordalla’s home building subsidiary. Prior to Cordalla Capital, Eller served in various industry roles, including president, chairman and CEO of Centex Corporation; president and CEO of Centex Homes; and board vice chairman of PulteGroup Inc. Eller currently serves as a director for BuildLinks; is an advisory board member of Encore Housing Opportunity Fund, a private equity fund; and is a life trustee of the National Housing Endowment.

Eller is also past-chairman of the Policy Advisory Board for Harvard University’s Joint Center for Housing Studies, and served as chairman of the High Production Home Builders Council of the National Association of Home Builders from 1998 to 2009.

Lane currently serves as CEO of Valerus, an oil and gas business headquartered in Houston, Texas. Prior to joining Valerus, Lane was a partner in the operations group of TPG. Prior to TPG, Lane spent 12 years with Bain & Company, leading the Dallas and Mexico City offices, as well as the oil and gas practice. He began his career with Schlumberger as an engineer and operations manager. Lane also serves on the boards of Valerus and Petro Harvester.

For more information about Taylor Morrison or Monarch, please visit www.taylormorrison.com and www.monarchgroup.net .

About Taylor Morrison

Taylor Morrison is the largest North American privately owned homebuilder based in the United States, as reported by Hanley Wood based on 2011 revenues. Headquartered in Scottsdale, Arizona, Taylor Morrison is a builder and developer of single-family detached and attached homes. Under the Taylor Morrison brand, the Company operates in Arizona, California, Colorado, Florida and Texas. Under the Monarch brand, the Company operates in Ontario, Canada, where the Company builds and develops single-family detached and attached homes in both Toronto and Ottawa. Monarch also builds high-rise condominiums in Toronto. Taylor Morrison serves a wide array of homebuyers, including entry-level, move-up, luxury and active adult customers, through its innovative product mix.