St. Joe Company (the) · NYSE:JOE
St. Joe Company (the) — Shareholder Meeting (May 2022)
30 slides from St. Joe Company (the)'s shareholder meeting presentation, May 17, 2022
Slide 1: Watersound Beach Club | Walton County, Florida
Watersound Beach ClubSM | Walton County, Florida
Slide 2: Table of Contents
TABLE OF CONTENTS 1 Watersound Origins ® | Walton County Value CreationSegmentsMilestonesConstruction StartsDemographic TailwindsScratching the SurfaceAppendixMap
Slide 3: Value Creation
VALUE CREATION 2 Latitude MargaritavilleSM Watersound| Bay County
Slide 4: Value Creation ($ in millions)
VALUE CREATION($ IN MILLIONS) 3
Slide 5: Value Creation ($ per share)
VALUE CREATION($ PER SHARE) 4
Slide 6: Value Creation: Cash Generated for Distribution or Investment
See Appendix “Reconciliation of Non-GAAP Financial Measures” at the end of this presentation. VALUE CREATIONCASH GENERATED FOR DISTRIBUTION OR INVESTMENT (CGFDI) ($ IN MILLIONS) Q1 2020 Q1 2021 -$1.3 $3.0 $8.1 $20.3 $0.14 $0.34 Q1 2021 Q1 2022 $3.2 $13.4 $20.2 $43.4 $0.34 $0.74 5 2016 2017 2018 2019
Slide 7: Scaling Efficiencies ($ in millions)
SCALING EFFICIENCIES($ IN MILLIONS) 6 2016 2017 2018 2019 2020 2021 Revenue $96.9 $100.0 $110.3 $127.1 $160.6 $267.0 Corporate and Other Operating Expenses $23.0 $20.4 $20.6 $21.4 $22.9 $23.0 % of Revenue 24% 20% 19% 17% 14% 9%
Slide 8: Segments
SEGMENTS 7 WaterColor® Inn | Walton County
Slide 9: Residential Sales
RESIDENTIAL SALES 900 853 = > - o eS we _ ; Homesites 2016 2017 2018 2019 2020 2021 Homesite Sales mt Latitude Margaritaville Watersound (unconsolidated joint venture)
Slide 10: Residential Sales Pipeline
RESIDENTIAL SALES PIPELINE 9 Total: 17,476 BACKLOG AS OF MARCH 31, 2022 2,294 ACTIVE BUILDERS PLATTED OR UNDER DEVELOPMENT 3,288 ADDITIONAL ENTITLEMENTS WITH CONCEPT PLAN 12,185 ENGINEERING OR PERMITTING 2,003 527 HOMES UNDER CONTRACT AT LATITUDE MARGARITAVILLE WATERSOUND 18 -As of March 31, 2022-Th
Slide 11: Hospitality
HOSPITALITY 10 Hotel Rooms Club Memberships
Slide 12: Commercial
COMMERCIAL 11 Commercial and Operational Square Feet Multi-Family and Senior Living
Slide 13: Milestones
MILESTONES 12 Shark’s Tooth Golf Course | Bay County
Slide 14: 2021 Unit Milestones
HOMESITES MULTI-FAMILY AND SENIOR LIVING UNITS HOTEL ROOMS COMMERCIAL SQUARE FEET*** CLUB MEMBERSHIPS 1,000 PER YEAR 1,300 900 1,500,000 1,400 *2021 Unit Milestones presented at the May 20, 2019, Annual Shareholders’ Meeting **Existing and under development/construction as of December 31, 2021***Com
Slide 15: 2024 Unit Milestones
2024 UNIT MILESTONES* 14 2,000 PER YEAR 2,500 1,500 1,800,000 3,250 2024 Milestone 750 *2024 Unit Milestones presented at the May 17, 2022 Annual Shareholders’ Meeting **Commercial Square Feet includes leasable assets (i.e., Pier Park North) and operational assets (i.e., Busy Bee Convenience Store,
Slide 16: Construction Starts
CONSTRUCTION STARTS 15 Hotel Indigo®| Bay County
Slide 17: Timeline of Construction Starts 2021-2023
TimeLine 2013 - 2018 CONSTRUCTION STARTS 2021-2023 COMMERCIALSouth Walton Commerce ParkWatersound Fountains Senior Living Watersound Town Center East Lake Creek Apartments Watersound West Bay CenterFSU Health Medical CampusGateway Apartments Mexico Beach Crossings ApartmentsPier Park Northwest (seco
Slide 18: Demographic Tailwinds
DEMOGRAPHIC TAILWINDS 17 Watersound Town Center| Walton County
Slide 19: Surging Demand: Discovery of Northwest Florida
SURGING DEMAND DISCOVERY OF NORTHWEST FLORIDAVisitors and residents from expanding geographiesMore year-round activity and permanent residents VIRTUAL WORK ENVIRONMENTFlexibility to work and live anywhere QUALITY OF LIFE AND SAFETYFamily-oriented, natural beauty, open spaces, and relative affordabil
Slide 20: Ecosystem Focus
ECOSYSTEM FOCUS 19 RESIDENTIAL COMMUNITIESWide range of prices and lifestylesWorkforce, move-up, retirement, luxury and second home HOSPITALITY EXPERIENCESLuxury branded hotelsValue flagged hotelsWaterfront resortsMarinasPrivate club COMMERCIAL PORTFOLIO RELATEDGarden style multi-family, village tow
Slide 21: Expanding Geographies: Walton County
20 EXPANDING GEOGRAPHIESWALTON COUNTY
Slide 22: Expanding Geographies: Bay County
21 EXPANDING GEOGRAPHIESBAY COUNTY
Slide 23: Expanding Geographies: Watersound Club Members
EXPANDING GEOGRAPHIESWATERSOUND CLUB MEMBERS 22
Slide 24: Scratching the Surface
SCRATCHING THE SURFACE 23 Pier Park Crossings Apartments | Bay County
Slide 25: Just Scratching the Surface of Multi-Generational Value Creation
JUST SCRATCHING THE SURFACE OFMULTI-GENERATIONAL VALUE CREATION 24 LAND ENTITLEMENTS SCALABLE OPERATIONS ECO SYSTEM FOCUS
Slide 26: Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES APPENDIX 25 Embassy Suites by Hilton ® | Bay County
Slide 27: CGFDI and CGFDI Per Share definitions
“Cash Generated for Distribution or Investment” (CGFDI) and “CGFDI Per Share” are non-GAAP measures, which management believes assists investors by providing insight into the cash generated by the Company that management has available for distribution to shareholders or for reinvestment into the bus
Slide 28: Map
MAP 27 WindMark Beach® Town Center | Gulf County
Slide 29: Land Holdings and Developments Map
28 LAND HOLDINGS AND DEVELOPMENTS MAP OF LAND HOLDINGS AND PROJECTSWALTON, BAY, AND GULF COUNTIES JOE.COM FOOW®, CAMP CREEK® GOLF, ORIGINSSM GOLF, PIER PARK CROSSINGSSM, PIER PARK NORTH®, RIVERCAMPS®, WATERCOLOR EXECUTIVE SUITESSM, WATERSOUND BEACH CLUBSM, WATERSOUND CAMP CREEKSM, WATERSOUND ORIGINS
Slide 30: Important Notice Regarding Forward-Looking Statements
29 © The St. Joe Company 2022. All Rights Reserved.Important Notice Regarding Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. These statements include, among other things,