Forestar Group Inc. Announces Retirement of Donald J. Tomnitz as Executive Chairman and Appointment of Anthony W. Oxley as Executive Chairman and Chief Executive Officer

Donald (Don) J. Tomnitz, Outgoing Executive Chairman of Forestar Group Inc.

“It has been an honor to help lead Forestar, and I am proud of our team and the Company we have built together over the years. Forestar is well-positioned for long-term growth and success, with strong leaders across the Company. I am confident Andy and the leadership team will continue to successfully guide Forestar's future.”

Anthony (Andy) W. Oxley, President and Chief Executive Officer of Forestar Group Inc.

“I greatly appreciate Don for his leadership and friendship throughout my career and his dedication to Forestar over the past nine years. He has helped build a strong foundation for our Company, and I am grateful for his many contributions. I look forward to working with the rest of the Forestar team to continue growing and improving the Company to become the leading residential lot developer in America.”