Indemnification Agreement, dated April 30, 2024, by and between Landsea Homes Corporation and Landsea Holdings Corporation

This Indemnification Agreement (the “Agreement”) is made and entered into as of April 30, 2024 between Landsea Homes Corporation (“Homes”), and Landsea Holdings Corporation (“Holdings”). Homes and Holdings may be referred to (i) collectively as the “Parties” or individually as a “Party” and (ii) in their respective capacities as an Indemnitor hereunder as “Indemnitor” and in their respective capacities as an Indemnitee hereunder as “Indemnitee”.

WHEREAS, Homes, Holdings, LF Capital Acquisition Corp., and LFCA Merger Sub, Inc. entered into an Agreement and Plan of Merger dated August 31, 2020 (“Merger Agreement”);

WHEREAS, pursuant to the terms of the Merger Agreement, LFCA Merger Sub, Inc. merged into Homes, and Homes became the surviving corporation on January 7, 2021 (“Merger Transaction”);

WHEREAS, in preparation for the Merger Transaction, the Parties took certain actions related to their respective roles after consummation of the Merger Transaction, each such action effective no later than such consummation (the “Closing”), including, without limitation, (i) Homes distributing 100% of the membership interest in Landsea Homes - WAB LLC (“LHW”) to Holdings pursuant to a Distribution Agreement dated August 27, 2020 by and among Homes, Holdings and LHW, (ii) Landsea Urban LLC, a subsidiary of Homes (“Urban”), assigning its membership interest in LS-212 West 93 Member LLC (“West 93”) to Holdings pursuant to a Contribution Agreement dated June 30, 2020 by and among Holdings, Urban and West 93, (iii) Holdings assigning to Homes the employee benefit plans specified in Schedule 5.1(a)(xiii) of the disclosure schedules to the Merger Agreement (the “Disclosure Schedules”), which are set forth on Annex A, and (iv) Holdings assigning to Homes the guarantees and indemnities specified in Schedule 5.1(a)(vi) and (viii) of the Disclosure Schedules, which are set forth on Annex B (the actions referenced in clauses (i), (iii) and (iv), collectively, the “Homes Specific Carve-Out Transactions”, and the action referenced in clause (ii), the “Holdings Specific Carve-Out Transaction”)(“Homes Specific Carve-Out Transactions” and “Holdings Specific Carve-Out Transaction” shall collectively be referred to as “Specific Carve-Out Transactions”);

WHEREAS, in consideration of the Merger Transaction and the Specific Carve-Out Transactions, the Parties have always contemplated and understood that from and after the Closing (i) Homes would conduct and be responsible for the business operations conducted by Holdings and Homes with respect to the projects listed on Annex C (the “Homes Business”) and the obligations associated therewith, and (ii) Holdings would conduct and be responsible for any other business operations conducted under the Landsea name, include those relating to West 93 (other than with respect to the obligations of Homes pursuant to the Management Agreement dated as of January 6, 2021 by and between Holdings and Homes) (the “Holdings Business”) and the obligations associated therewith;

WHEREAS, over the past several years since the Closing, and pursuant to the Parties’ understanding, Homes has directed the litigation efforts of Holding and Homes with respect to the litigation matters set forth on Annex D (including, but not limited to a lawsuit filed on July

22, 2019 in Contra Costa County Superior Court, entitled Maria Munoz, et al. v. Jan Gyllstrom, et al., Case No. CIVMSC19-01400 (the “Munoz Matter”)) (the “Litigation Matters”);

WHEREAS, on November 5, 2021, a Settlement and Funding Agreement (“Settlement Agreement”) was made and entered into to resolve the Munoz Matter, whereby certain insurers agreed to fund the settlement payments under a reservation of the right to seek reimbursement of defense fees and costs, as well as reimbursement of their respective shares of the settlement payments (“Reimbursement Claims”);

WHEREAS, on October 27, 2023, one of the excess insurers who funded the Settlement Agreement filed a lawsuit in Los Angeles Superior Court, entitled Ironshore Specialty Insurance Company v. Landsea Holdings Corporation, et al., Case No. 30-2023-01359955-CU-IC-CJC (“Ironshore Matter”);

WHEREAS, the Parties desire to confirm their understandings pursuant to which each Party shall indemnify and hold harmless the other party with respect to the matters described herein;

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, intending to be legally bound, the Parties hereby agree as follows:

1.Indemnification.

(a)     Indemnification by Homes. Homes (on the behalf of itself and any and all of its successors in interest) hereby agrees to defend, hold harmless and indemnify Holdings to the fullest extent permitted by law, as such may be amended from time to time, from any and all disputes, claims, losses, controversies, demands, liabilities, actions and causes of action of every kind and nature (“Losses”) to the extent relating to, or arising from, (i) the business operations of the Homes Business after the Closing, (ii) the business operations of the Homes Business before the Closing and which Losses and the circumstances resulting therein are not known to Holdings as of the date of this Agreement, (iii) the Homes Specific Carve-Out Transactions, except such Losses resulting from the actions or omissions of Holdings or any of its employees, successors, or assigns, and (iv) the Litigation Matters (including, but not limited to, the Ironshore Matter and the Reimbursement Claims) ((i), (ii), (iii) and (iv), collectively, “Homes Covered Matters”). Homes shall be the sole party responsible to pay and fund any and all Homes Covered Matters. Subject to Section 2: (x) to the extent Holdings has paid a liability with respect to any Homes Covered Matter (a “Homes Liability”), it is entitled to recover and collect from Homes the amount of such Homes Liability, and (y) Holdings will submit to Homes a written demand for payment of the Homes Liability and Homes will pay the Homes Liability to Holdings within thirty (30) business days of receipt of demand for payment.

(b)    Indemnification by Holdings. Holdings (on the behalf of itself and any and all of its successors in interest) hereby agrees to defend, hold harmless and indemnify

Homes to the fullest extent permitted by law, as such may be amended from time to time, from any and all Losses to the extent relating to, or arising from, (i) the business operations of the Holdings Business after the Closing, and (ii) the Holdings Specific Carve-Out Transactions, except such Losses resulting from the actions or omissions of Homes or any of its employees, successors, or assigns ((i) and (ii) collectively, “Holdings Covered Matters”). Holdings shall be the sole party responsible to pay and fund any and all Holdings Covered Matter. Subject to Section 2, (x) to the extent Homes has paid a liability with respect to any Holding Covered Matter (a “Holdings Liability”), it is entitled to recover and collect from Holdings the amount of such Holdings Liability, and (y) Homes will submit to Holdings a written demand for payment of the Holdings Liability and Holdings will pay the Holdings Liability to Homes within thirty (30) business days of receipt of demand for payment.

(c)    Certain Limitations.

(a)    Payments by an Indemnitor pursuant to this Section 1 in respect of any Losses shall be limited to the amount of any liability or damage that remains after deducting therefrom any insurance proceeds and any indemnity, contribution or other similar payment received or reasonably expected to be received by Indemnitor in respect of any such claim. Indemnitee shall use its commercially reasonable efforts to recover under insurance policies or indemnity, contribution or other similar agreements for any Losses prior to seeking indemnification under this Agreement. If an Indemnitee receives any payment in respect of any Losses after it has already received an indemnification payment on account of its claim, then it shall promptly reimburse Indemnitor for the amount of such payment (net of any costs, expenses or losses incurred in connection with such payment) to the extent that such amount was not already deducted from the indemnification payment made by Indemnitor.

(b)    Except to the extent awarded by a court of competent jurisdiction to a third party pursuant to a third party claim, Losses shall exclude, and in no event shall either party have any liability under any provision of this Agreement for, any punitive, exemplary, incidental, consequential, special or indirect damages, damages for loss of future revenue, income or profit, loss of business reputation or opportunity, or diminution of value.

(c)    An Indemnitee shall take all reasonable steps to mitigate any Loss upon becoming aware of any event or circumstance that would be reasonably expected to, or does, give rise thereto.

2.Procedures; Duty to Defend and Attorneys and Other Fees and Expenses.

(a)    Third Party Claims. If any Indemnitee receives notice of the assertion or commencement of any action, suit, claim, investigation, or other proceeding made

or brought by any Person who is not a party to this Agreement or an affiliate of a party to this Agreement or a representative of the foregoing (a “Third Party Claim”) against such Indemnitee with respect to which an Indemnitor is obligated to provide indemnification under this Agreement, the Indemnitee shall give the Indemnitor prompt written notice thereof (a “Claim Notice”). The failure to give such prompt written notice shall not, however, relieve the Indemnitor of its indemnification obligations, except to the extent that the Indemnitor forfeits rights or defenses by reason of such failure. The Claim Notice shall describe the Third Party Claim in reasonable detail, shall include copies of all material written evidence thereof and shall indicate the estimated amount, if reasonably practicable, of the Loss that has been or may be sustained by the Indemnitee. The Indemnitor shall have the right to participate in, or by giving written notice to the Indemnitee, to assume, and, upon the request of the Indemnitee, the Indemnitor shall conduct, the defense of any Third Party Claim at the Indemnitor’s expense and by the Indemnitor’s own counsel, and the Indemnitee shall cooperate in good faith in such defense. In the event that the Indemnitor assumes or otherwise conducts the defense of any Third Party Claim, the Indemnitor shall have the right to take such action as it deems reasonably necessary to avoid, dispute, defend, appeal or make counterclaims pertaining to any such Third Party Claim in the name and on behalf of the Indemnitee. The Indemnitee shall have the right, at its own cost and expense, to participate in the defense of any Third Party Claim with counsel selected by it subject to the Indemnitor’s right to control the defense thereof. If the Indemnitor elects not to compromise or defend such Third Party Claim or fails to promptly notify the Indemnitee in writing of its election to defend as provided in this Agreement, the Indemnitee may pay, compromise, defend such Third Party Claim and seek indemnification for any and all Losses based upon, arising from or relating to such Third Party Claim. The Indemnitor and the Indemnitee shall cooperate with each other in all reasonable respects in connection with the defense of any Third Party Claim, including, without limitation, (i) making available records relating to such Third Party Claim, (ii) furnishing, without expense (other than reimbursement of reasonable actual out-of-pocket expenses) to the Indemnitor, employees of the Indemnitee as may be reasonably necessary for the preparation of the defense of such Third Party Claim, and (iii) entering into a mutually acceptable joint defense agreement.

(b)    Settlement of Third Party Claims. Notwithstanding any other provision of this Agreement, an Indemnitor shall not enter into settlement of any Third Party Claim without the prior written consent of the Indemnitee (which consent shall not be unreasonably withheld, delayed or conditioned), unless such settlement is solely for money damages that shall be paid for in full by the Indemnitor and provides, in customary form, for the unconditional release of each Indemnitee from all liabilities and obligations in connection with such Third Party Claim. If an Indemnitee is conducting the defense pursuant to Section 2(a), it shall not agree to any settlement without the written consent of the Indemnitor (which consent shall not be unreasonably withheld, delayed or conditioned) if the Indemnitee is seeking or will seek indemnification hereunder with respect to such matter.

(c)    Direct Claims. Any claim by an Indemnitee on account of a Loss which does not result from a Third Party Claim (a “Direct Claim”) shall be asserted by the Indemnitee giving the Indemnitor prompt written notice thereof. The failure to give such prompt written notice shall not, however, relieve the Indemnitor of its indemnification obligations, except to the extent that the Indemnitor forfeits rights or defenses by reason of such failure. Such notice by the Indemnitee shall describe the Direct Claim in reasonable detail, shall include copies of all material written evidence thereof and shall indicate the estimated amount, if reasonably practicable, of the Loss that has been or may be sustained by the Indemnitee. The Indemnitor shall have 30 days after its receipt of such notice to respond in writing to such Direct Claim. During such 30-day period, the Indemnitee shall allow the Indemnitor and its professional advisors to investigate the matter or circumstance alleged to give rise to the Direct Claim, and whether and to what extent any amount is payable in respect of the Direct Claim and the Indemnitee shall assist the Indemnitor’s investigation by giving such information and assistance (including access to the Indemnitee’s premises and personnel and the right to examine and copy any accounts, documents or records) as the Indemnitor or any of its professional advisors may reasonably request. If the Indemnitor does not so respond within such 30-day period, the Indemnitor shall be deemed to have rejected such claim, in which case the Indemnitee shall be free to pursue such remedies as may be available to the Indemnitee on the terms and subject to the provisions of this Agreement.

3.Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of any successors of the Parties.

4.Severability. The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability of any other provision. Without limiting the generality of the foregoing, this Agreement is intended to confer upon the Indemnitee indemnification rights to the fullest extent permitted by applicable laws. In the event any provision herein conflicts with any applicable law, such provision shall be deemed modified, consistent with the aforementioned intent, to the extent necessary to resolve such conflict.

5.Modification and Waiver. No supplement, modification, termination or amendment of this Agreement shall be binding unless executed in writing by both of the Parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver.

6.Authority to Execute/Counterparts. This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same the same instrument. Counterparts may be delivered via electronic mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

7.Headings. The headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction thereof.

8.Governing Law and Consent to Jurisdiction. This Agreement and the legal relations among the Parties shall be governed by, and construed and enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules.

IN WITNESS WHEREOF, the Parties hereto have executed this Agreement on and as of the day and year first above written.