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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 asked about on-the-ground population growth, the potential for the local housing market to outperform national trends, and whether the company could sustain returning nearly $100 million annually to shareholders. Questions also covered the drivers of newly contracted homesites, bottlenecks to sales, and the reasons for a decline in homesites under contract.

    Answer

    President, CEO & Chairman Jorge Gonzalez affirmed that Bay and Walton counties continue to see high population growth rates. He noted the main bottleneck for accelerating homesite sales is high mortgage rates, though traffic remains strong. Regarding capital returns, Gonzalez stated that allocation is a dynamic daily decision and could not commit to a specific annual figure. He explained the decline in homesites under contract was due to a high number of closings and the non-linear nature of lot development.

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

    Question

    A Webcast Participant raised several questions about club operations, including the policy on hotel guest access, the reason for a slight decrease in memberships, and the drivers of revenue growth despite lower membership numbers.

    Answer

    President, CEO & Chairman Jorge Gonzalez stated there are no plans to change the policy allowing guests from three specific hotels access to club amenities. He attributed the membership dip to a recalibration of legacy membership types and a typical market reaction to a significant increase in entry fees and monthly dues. Gonzalez noted that club revenue grew due to these higher dues, increased fees from a new third golf course, and strong hotel occupancy.

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