Latitude Margaritaville Watersound Named Among Top 50 Master-Planned Communities in U.S.

Latitude Margaritaville Watersound development partners have announced that Latitude Margaritaville Watersound has again been named among the top 50 master-planned communities in the U.S. on the RCLCO Real Estate Consulting mid-2024 listing. Latitude Margaritaville Watersound is being developed in a dynamic partnership between The St. Joe Company (NYSE:JOE) ("St. Joe") and master developer Minto Communities USA ("Minto"), under licensing from global lifestyle brand Margaritaville Holdings.

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Latitude Margaritaville Watersound is located on Northwest Florida's Emerald Coast near Panama City Beach and the Scenic Highway 30A corridor. It is the third of the award-winning Latitude Margaritaville communities and the first to be developed in partnership with The St. Joe Company. The first Latitude Margaritaville communities by Minto and Margaritaville are located in Daytona Beach, Florida and near Hilton Head, South Carolina. Additional Latitude Margaritaville communities are being planned for Texas and other popular destinations.

With a full range of award-winning resort style amenities, Latitude Margaritaville communities offer a laid-back lifestyle of fun, food, music and escapism that has captured the imagination of today's vibrant 55 and better home buyers. Latitude Margaritaville Watersound Town Square amenities include a terraced amphitheater, thatched roof bandshell with full-size concert stage for the community's robust program of live music, a jumbo screen for live streaming, and recessed dance floor that provides a little cushion and spring for dancers. A two-story Latitude Bar & Chill restaurant and rooftop Overlook Bar provide a menu of Margaritaville inspired food and beverage concoctions and stunning, panoramic views of the Intracoastal Waterway. A massive lagoon-style Paradise Pool has a beach-like gradual entry and its own Tiki Island.

Existing amenities also include a state-of-the-art Fins Up! Fitness Center with indoor lap pool and spa, workout equipment, spin room, fitness classes and wellness programming. There also is a Telegraph Business Center with individual work stations and a board room. In addition to a games lawn with bocce, cornhole, billiards tables, and a putting green, the tennis and pickleball courts have lighting for night play. Residents also can explore the Intracoastal Waterway by kayak from the Port of Indecision kayak launch, and canine residents can get their play on at the Barkaritaville Dog Park.

Latitude Margaritaville Watersound offers four distinct home collections that include the Conch Cottage Collection, Caribbean Villas Collection, and Beach and Island Collections of single-family homes. Home designs capture the "no worries" tropical vibe that defines Latitude Margaritaville. Floor plans range from 1,210 to 2,568 square feet under air with pricing from the $300s. Thirteen colorful island-styled model homes are open daily for viewing.

A new Vista Collection of just 24 exclusive two-story single-family homes along the Intracoastal Waterway is now available. These homes feature a casual-luxe island style with a spacious second level that takes full advantage of their spectacular location overlooking the Intracoastal Waterway. All include an elevator, three bedrooms, covered balcony, two-car garage, golf cart garage and upgraded standard features. Homes range from 3,095 to 4,048 air-conditioned square feet with pricing starting at $1.1 million.

According to Minto's Latitude Margaritaville Division President William Bullock, "We are honored that Minto communities are consistently recognized among the Top 50 Master-Planned Communities in the U.S. We continually strive to build upon Minto's reputation for quality, innovation and value. Latitude Margaritaville communities embody all of these hallmarks for success with a one-of-a-kind lifestyle based on the four pillars of fun, food, music and escapism that has captured the imagination of those 55 and better who are growing older but not up."

RCLCO provides real estate economics, strategic planning, and management consulting to real estate investors, developers, home builders, financial institutions, public agencies and anchor institutions. Since 1994, RCLCO has conducted a national survey identifying the top-selling master-planned communities through a rigorous search of high-performing communities in each state.

Latitude Margaritaville Watersound is located at 9201 Highway 79, Panama City Beach, Florida. Sales Center hours are Monday through Saturday, 9 a.m. to 5 p.m. CT, and Sunday, 11 a.m. to 5 p.m. CT. For information on Latitude Margaritaville, visit www.LatitudeMargaritaville.com or Minto Communities at www.mintousa.com.

NOTE TO EDITOR: See link to photos below.

https://www.dropbox.com/scl/fo/zwzmw3p4tik14i20ibl3t/AOHGGBetwuATDwhcARRbhHE?rlkey=1r6j9bcfvshserl6342abx3nl&st=uz4jbwx6&dl=0

Important Notice Regarding Forward-Looking Statements

This press release contains "forward-looking statements," within the meaning of Section 21E of the Securities Exchange Act of 1934, including statements regarding the anticipated size of the initial phase of Latitude Margaritaville Watersound, expectations regarding specific amenities and other features, neighboring developments and the prospective interest in the Latitude Margaritaville Watersound and the neighboring developments. These forward-looking statements are qualified in their entirety by cautionary statements and risk factors set forth in St. Joe's filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2023 and subsequent current report filings, as well as the ability of Minto, Margaritaville Holdings and St. Joe to continue to develop and successfully complete the Latitude Margaritaville Watersound community and the continued interest of prospective buyers of Latitude Margaritaville Watersound homes.

About Latitude Margaritaville

Latitude Margaritaville communities are active adult communities developed and built by master developer Minto Communities under license from global lifestyle brand Margaritaville Holdings. Offering resort-style amenities, Latitude Margaritaville is the ideal destination for those looking to live the Margaritaville lifestyle as they grow older, but not up. The communities feature a resort-style pool, fitness center, live entertainment, signature Margaritaville food and beverage concepts, arts and learning programs and more. Ranked the nation's most popular active adult community of 2018 by 55Places.com and Best 55+ Community of the Year for both 2019 and 2020 by the National Association of Home Builders, Latitude Margaritaville communities are now open in Daytona Beach, Florida, Hilton Head, South Carolina and Watersound, Florida located on the Emerald Coast in Florida's Panhandle. All three Latitude Margaritaville communities were named among the 2023 Top 50 Master-Planned Communities by John Burns Real Estate Consulting and RCLCO Real Estate Consulting. Additional Latitude Margaritaville communities are planned for Texas as well as other popular destinations. For more information on Latitude Margaritaville and to sign up to receive regular development updates, visit www.LatitudeMargaritaville.com. Follow Latitude Margaritaville on Facebook at www.facebook.com/LatitudeMargaritaville on Instagram and X at @LatitudeMville and on YouTube at @LatitudeMargaritaville8114.

About The St. Joe Company

The St. Joe Company is a real estate development, asset management and operating company with real estate assets and operations in Northwest Florida. The Company intends to use existing assets for residential, hospitality and commercial ventures. St. Joe has significant residential and commercial land-use entitlements. The Company actively seeks higher and better uses for its real estate assets through a range of development activities. More information about the Company can be found on its website at www.joe.com.

©2024 The St. Joe Company. "St. Joe^®," "JOE^®," the "Taking Flight" Design^®, and "St. Joe (and Taking Flight Design) ^®" are registered service marks of The St. Joe Company or its affiliates.

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