Receipt of proxy material for the above Annual Meeting is acknowledged. The undersigned hereby constitutes and appoints Jeffrey T. Mezger and Wendy C. Shiba, and each of them, as proxies, each with the power to act without the other and with full power of substitution, and authorizes them to represent the undersigned and to vote all shares of Common Stock, $1.00 par value, of KB Home (the “Company”) of which the undersigned would be entitled to direct the vote if personally present at the 2010 Annual Meeting of Stockholders of the Company to be held on April 1, 2010, and at any and all adjournments or postponements thereof (the “Meeting”), as instructed through this voting site or, if no instruction is given, “FOR” Proposals 1, 2 and 3 and “AGAINST” Proposals 4 through 6, and in each such proxyholder’s discretion upon any other matter that may properly come before the Meeting. This proxy is solicited by the Board of Directors.

If shares of the Company’s Common Stock are held on behalf of the undersigned under the Company’s Amended and Restated 401(k) Savings Plan (the “Plan”) and/or if the undersigned is entitled as a participant in the Company’s employee stock option plans to direct the vote of shares held by the Grantor Stock Trust (the “Trust”), this voting site serves to provide confidential voting instructions to the respective Trustee who votes the shares of the Plan and the Trust as to any and all such shares as to which the undersigned had the right to give voting instructions on February 10, 2010 to vote as instructed through this voting site, or if no instruction is given, “FOR” Proposals 1,2 and 3 and “AGAINST” Proposals 4 through 6.

PLEASE SUBMIT VOTING INSTRUCTIONS THROUGH THIS VOTING SITE PROMPTLY, OR USE THE TELEPHONE VOTING OPTION DESCRIBED ON THE CARD YOU RECEIVED, EVEN IF YOU PLAN TO ATTEND THE MEETING. VOTING INSTRUCTIONS TO THE PROXIES AS TO COMMON STOCK MUST BE RECEIVED BEFORE THE CLOSING OF THE POLLS ON APRIL 1, 2010 TO BE COUNTED. VOTING INSTRUCTIONS TO THE RESPECTIVE TRUSTEES AS TO PLAN SHARES AND TRUST SHARES MUST BE RECEIVED BY THE TRUSTEE ON OR BEFORE MARCH 29, 2010 TO BE COUNTED. IF YOU DO NOT PROVIDE VOTING INSTRUCTIONS TO THE PLAN TRUSTEE, YOUR PLAN SHARES, IF ANY, WILL NOT BE VOTED.