St. Joe Company (the) · NYSE:JOE
St. Joe Company (the) — The St. Joe Company — Investor Presentation (May 2018)
32 slides from St. Joe Company (the)'s investor presentation, May 23, 2018
Slide 1: Investor Presentation - May 23, 2018
S SOE INVESTOR PRESENTATION - MAY 23, 2018 VACATION RESORTS, GOLF, PRIVATE CLUBS THE ST. JOE COMPANY JOE.COM 0 Sis ee LIV MASTER PLANNED ‘hi n ae pipet : COMMUNITIES sem a We iii uit ss mWORK © B20 OFFICE, INDUSTRIAL, AND BUILD TO SUIT _TEASABLE RET consti
Slide 2: Forward Looking Statements
2 FORWARD LOOKING STATEMENTS If we refer to “we,” “us,” “our,” “St. Joe” or “the Company,” we mean The St. Joe Company and its consolidated subsidiaries. Certain statements contained in this presentation (other than statements of historical fact) are forward-looking statements. Words such as “believ
Slide 3: Business Strategy
B U S I N E S S S T R AT E G Y
Slide 4: Business Strategy
BUSINESS STRATEGY 4 Expand portfolio of income producing commercial properties Develop residential communities with long term, scalable and repeatable revenue Grow resorts and leisure segment Work collaboratively with public and private partners on strategic infrastructure Joint venture with best of
Slide 5: Balance Sheet March 31, 2018
BALANCE SHEET 5 March 31, 2018 (unaudited) | (in millions) Assets Liabilities & Equity Cash and Cash Equivalents $ 202.6 Debt $ 55.5 Investments in Securities 91.3 Deferred Tax Liabilities (Net) 48.5 Investment in Real Estate (Net) 332.6 Other 43.8 PP&E (Net) 11.7 Special Purpose Entities 176.6 Othe
Slide 6: Capital Expenditures
CAPITAL EXPENDITURES 6 Investing in Our Assets (in millions) Actual Actual Estimated 2016 2017 2018* Residential $ 3.3 $ 8.4 $ 36.2 Commercial 6.9 25.3 82.7 Clubs & Resorts 1.3 4.9 9.2 Forestry 1.1 1.1 1.1 Other 0.3 0.2 0.4 Total $ 12.9 $ 39.9 $ 129.6 *Actual 2018 capital expenditures may vary depen
Slide 7: Leasable Commercial Portfolio
7 LEASABLE COMMERCIAL PORTFOLIO Net Rentable Square Feet 1,800,000 1,600,000 1,400,000 1,200,000 1,000,000 813,000 800,000 87% Leased 587,000 602,000 600,000 87% Leased 83% Leased 400,000 200,000 2015 2016 2017
Slide 8: Scalable Residential Communities
8 SCALABLE RESIDENTIAL COMMUNITIES Bay-Walton Sector Plan is Bay-Walton Sector Plan is Entitled for entitled for over entitled for over 2,200 24,000 145,000 Residential units Residential units on Residential units on on 1,000+ acres in Bay 13,000+ acres in Walton 97,000+ acres in Bay County County C
Slide 9: St. Joe Club & Resorts
9 ST. JOE CLUB & RESORTS Club Memberships 1500 1250 1,059 1000 961 As of 4/30/2018 754 750 696 647 500 250 2014 2015 2016 2017 2018
Slide 10: Value Is What You Get
P R I C E I S W H AT Y O U PAY VALUE IS WHAT YOU GET - WARREN BUFFETT
Slide 11: General Overview
G Ew EGoRrA.L. OWE R VIE W
Slide 12: St. Joe Land Holdings
ST. JOE LAND HOLDINGS ~~ Tallahassee Destin LEGEND Bh 10 mites: 120,240 +/- acres [BB 10-15 mites: 39,420 +/- acres [Bl 15-20 miles: 6,350 +/- acres Eh over 20 miles: 11,060 +/- acres Port St.Joe STJOE
Slide 13: Key Water Access Portals
13 KEY WATER ACCESS PORTALS Gateway Portals to the Gulf of Mexico
Slide 14: Northwest Florida Beaches International Airport Traffic Growth
N O R T H W E S T F L O R I D A B E A C H E S I N T E R N AT I O N A L A I R P O R T 14 TRAFFIC GROWTH
Slide 15: St. Joe Club & Resorts Assets
15 ST. JOE CLUB & RESORTS ASSETS PROJECT PIPELINE • Camp Creek Amenity Complex W ellness/Fitness, Lodging, Pools, Tennis, Restaurant (2019-2020) • W aterSound Beach Club Additional Pool (2018) Additional Restaurant (2019) • Fish Out of W ater Restaurant at W aterColor Inn Major Renovations (2018) •
Slide 16: Key Areas of Geographic Focus
K E Y A R E A S O F G E O G R A P H I C F O C U S
Slide 17: Key Areas of Geographic Focus
17 KEY AREAS OF GEOGRAPHIC FOCUS In Bay & W alton Counties VentureCrossings
Slide 18: Origins Area
18 ORIGINS AREA Q U I C K FAC T S • From 2010-2017, Walton County was the 4th fastest growing county in Florida by % change (US Census) • From 2016-2017, Walton County was the 6th fastest growing county in the USA by % change (US Census) • Origins – 230 existing homes PROJECT PIPELINE • Origins Path
Slide 19: Pier Park Area
PIER PARK AREA 19 Q U I C K FAC T S • Over 17 million visitor day/nights • 47,500 to 54,000 daily traffic on US 98 • Pier Park 800,000+ square feet of retail/entertainment, 98.8% occupancy (Simon Group) • Pier Park North 320,000+ square feet of retail entertainment, 96% occupancy (JOE/Casto JV) PROJ
Slide 20: Breakfast Point Area
20 BREAKFAST POINT AREA Q U I C K FAC T S • 39,500 average daily traffic on US 98 • Breakfast Point – 185 existing homes PROJECT PIPELINE • Breakfast Point Residential 86 lots (2017 - 2018) • Breakfast Point Residential 88 lots (2019) • Sports Village $37MM Proposed by Bay County Convention and Visi
Slide 21: Latitude Margaritaville Watersound
LATITUDE MARGARITAVILLE 21 WATERSOUND Q U I C K FAC T S • Bay-Walton Sector Plan 110,000 acres entitled for approximately 170,000 residential units and over 22 million square feet of commercial PROJECT PIPELINE • Latitude Margaritaville Watersound JV First Phase (2020) • West Bay Parkway, Segment 2
Slide 22: Bay-Walton Sector Plan Entitlements
22 BAY-WALTON SECTOR PLAN ENTITLEMENTS Residential: 170,200 dwelling units Retail/Commercial: 5,040,000 Square Feet Industrial: 6,000,000 Square Feet Office/Light Industrial/Manufacturing: 11,353,000 Square Feet Hospital: 1,350 Beds Hotel: 3,310 Rooms This slide reflects projects that are currently
Slide 23: Bay-Walton Sector Plan Elevation Study
BAY-WALTON SECTOR PLAN 23 ELEVATION STUDY
Slide 24: Topsail Commercial
TOPSAIL COMMERCIAL 24 QUICK FACTS: • 47,000 average daily traffic on US 98 PROPERTY: • Entitled for 228,300 square feet retail and entertainment, 5,000 square feet office, and 190 assisted living units This slide reflects projects that are currently under development or proposed for development but
Slide 25: Venture Crossings
25 VENTURE CROSSINGS Q U I C K FAC T S • Located within the Bay-Walton Sector Plan, adjacent to NW Florida Beaches International Airport (ECP) • A strategic location that offers 24/7 operations and transportation via air, land, and sea • Growth capacity with hundreds of acres of developable commerci
Slide 26: Eastern Bay County/Port St. Joe
EASTERN BAY COUNTY/PORT ST. JOE 26 Emerging Area Q U I C K FAC T S • Tyndall AFB located in Panama City won new MQ-9 Reaper Wing (drone) program, a $250MM investment by U.S. Air Force with potential of 1,600 new jobs (subject to Environmental Impact Statement) PROJECT PIPELINE • WindMark Beach 59 ex
Slide 27: Right Time, Right Place
RIGHT TIME, RIGHT PLACE
Slide 28: Best in Class Partners
28 B E S T I N C L A S S PA R T N E R S JOINT VENTURES R E TA I L H OTELS 55+ COMMUNITIES A PA R T M E N T S
Slide 29: Best in Class Partners
29 B E S T I N C L A S S PA R T N E R S RESIDENTIAL HOME BUILDER PROGRAMS W atersound Origins | Breakfast Point | SouthW ood | W indMark Beach
Slide 30: Build Value for Owners
30 BUILD VALUE FOR OWNERS D E V E L O P AS S E T S S E E D G R O W TH B O L T - O N AC Q U I S I TI O N S AC T L I K E O W N E R S Low Cost Every Action Seeds Opportunistic Acquisitions Excess Capital Distributed Future Actions via Stock Buybacks Recurring Revenue Expand Core Areas 21st Century Educ
Slide 31: Northwest Florida: Right Time, Right Place
FLORIDA 31 No Personal State Income Tax Northwest Florida $1 Trillion Economy RECENT ACTIVITY Third Most Populous State Second Fastest Growing Population Triumph Gulf Coast, Inc. to distribute $1.5B for the economic diversification and job enhancement of eight Northwest Florida counties NORTHWEST FL
Slide 32: JOE.COM
watersound.com —~AREAST* PO BRE AKEAST* Poy. breakfastpoint florida.com img Oreck campcreek golf.com Gour cue windmark beach.com water-color watercolor resort.com WATER:SOUND BEACH CLUB watersound beachclub.com portstjoe marina.com RIVERCAMps- Crooked Cech, rivercamps florida.com STJOE oO The Clubs
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