K. HOVNANIAN ENTERPRISES, INC. ANNOUNCES NEW SENIOR NOTES OFFERING (Form 8-K)

K. HOVNANIAN ENTERPRISES, INC. ANNOUNCES NEW SENIOR NOTES OFFERING

MATAWAN, NJ, September 10, 2025 - Hovnanian Enterprises, Inc. (NYSE: HOV) (the "Company") announced today that its wholly owned subsidiary, K. Hovnanian Enterprises, Inc. ("K. Hovnanian"), intends to offer, subject to market conditions $450 million aggregate principal amount of Senior Notes due 2031 and $450 million aggregate principal amount of Senior Notes due 2033 in a private placement (collectively, the "Notes"). The Notes will be guaranteed by the Company and substantially all of its subsidiaries

K. Hovnanian intends to use the net proceeds from the offering of the Notes to (i) fund the redemption of the entire outstanding principal amount of its 8.0% Senior Secured 1.125 Lien Notes due 2028 (the "1.125 Lien Notes") at a redemption price equal to 104.000% of the principal amount thereof and the entire outstanding principal amount of its 11.75% Senior Secured 1.25 Lien Notes due 2029 (the "1.25 Lien Notes" and together with the 1.125 Lien Notes, the "Existing Secured Notes") at a redemption price equal to 100.000% of the principal amount thereof plus the applicable "make-whole" premium, in each case, plus accrued and unpaid interest to, but excluding, the redemption date, (ii) repay in full all outstanding loans under its Senior Secured 1.75 Lien Term Loan Facility due 2028 at par, plus accrued and unpaid interest to, but excluding, the prepayment date and (iii) pay all fees and expenses related thereto and the offering of the Notes.

The Notes have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), any state securities laws or the securities laws of any other jurisdiction, and may not be offered or sold in the United States, or for the benefit of U.S. persons, except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities or blue sky laws. Accordingly, the Notes are being offered only to persons reasonably believed to be "qualified institutional buyers" in reliance on the exemption from registration provided by Rule 144A under the Securities Act, and to certain persons in offshore transactions in reliance on Regulation S under the Securities Act. This announcement does not constitute an offer to sell or the solicitation of an offer to buy Notes in any jurisdiction in which such an offer or sale would be unlawful. In addition, this announcement does not constitute a notice of redemption of the Existing Secured Notes.

ABOUT HOVNANIAN ENTERPRISES, INC.:

Hovnanian Enterprises, Inc., founded in 1959 by Kevork S. Hovnanian, is headquartered in Matawan, New Jersey and, through its subsidiaries, is one of the nation's largest homebuilders with operations in Arizona, California, Delaware, Florida, Georgia, Maryland, New Jersey, Ohio, Pennsylvania, South Carolina, Texas, Virginia and West Virginia. The Company's homes are marketed and sold under the trade name K. Hovnanian Homes. Additionally, the Company's subsidiaries, as developers of K. Hovnanian's Four Seasons communities, make the Company one of the nation's largest builders of active lifestyle communities.