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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 the potential effects of Florida Senate Bill 1622, the discrepancy between market cap and NAV, the earnings potential of JVs like Water Sun Fountain, the strategy for selling non-core land, and the potential of the new Watersound Real Estate brokerage.

    Answer

    President, CEO & Chairman Jorge Gonzalez stated the company does not anticipate negative effects from SB 1622. On the NAV gap, he said management's focus is on growing the company profitably. He expressed confidence in the long-term potential of JVs like Fountains, comparing its ramp-up to the now-profitable Watercress facility. Gonzalez also explained the company's strategy of selling non-strategic land while being more selective in its core counties.

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

    Question

    A Webcast Participant inquired about regional growth and infrastructure, asking about population trends, managing vehicle traffic, the status of the West Bay Bridge, and the company's strategy for its raw land holdings.

    Answer

    President, CEO & Chairman Jorge Gonzalez confirmed that Bay and Walton counties continue to be among the fastest-growing in Florida. He stated the company constantly plans for infrastructure needs years ahead with state and local partners. Regarding the West Bay Bridge, the alignment is chosen, and the next step is engineering and permitting. For land strategy, Gonzalez explained the company is predisposed to sell non-strategic land (east of the Apalachicola River) but is much more selective about selling strategic land in its core counties.

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