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    Webcast Participant's questions to St Joe Co (JOE) leadership

    Webcast Participant's questions to St Joe Co (JOE) leadership • Q2 2025

    Question

    A webcast participant inquired about the Latitude Margaritaville joint venture, asking about the decision-making process for cash distributions, the total acreage contributed, and the timeline and positioning for Phase 2.

    Answer

    President, CEO & Chairman Jorge Gonzalez stated that cash distributions from the JV are decided jointly with partner Minto based on business performance and capital needs, not a specific formula. He confirmed approximately 2,600 acres were contributed to the JV. For Phase 2, Gonzalez indicated that while planning is underway, a groundbreaking is likely a couple of years away, and the market positioning is expected to be similar to Phase 1.

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    Webcast Participant's questions to St Joe Co (JOE) leadership • Q2 2025

    Question

    A Webcast Participant asked about residential real estate trends, including the drivers behind the 482 newly contracted homesites, the main bottleneck for sales, the decline in homesites under contract, and the potential for the Pigeon Creek parcel.

    Answer

    President, CEO & Chairman Jorge Gonzalez explained the growth in contracted homesites was broad-based across all active communities, not driven by one major project. He identified mortgage interest rates as the primary factor constraining sales acceleration. Gonzalez clarified that the decline in homesites under contract was a result of a high volume of lot closings. He also confirmed active discussions with a large-scale builder interested in the entire Pigeon Creek DSAP, which could accelerate residential growth.

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