The St. Joe Company Announces Johnnie-O as the Latest National Retail Tenant to Join Watersound® Town Center

The St. Joe Company (NYSE: JOE) (“St. Joe”) announces Johnnie-O as the latest national retail tenant to join Watersound Town Center, St. Joe’s open-air, lifestyle center at the entrance to the Watersound Origins^® residential community in Inlet Beach, Florida. The Johnnie-O retail store will be located in the approximately 13,000 square foot multi-tenant retail building currently under construction with new storefront retail leasing opportunities currently available.

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Conceptual rendering of the multi-tenant retail building currently under construction at Watersound Town Center with storefront retail leasing opportunities currently available

Celebrating its 20^th anniversary, the California-based clothier is known for its position in the premium golf apparel market, blending West Coast casual with East Coast prep aesthetics for men and women. With products distributed through nearly 2,000 golf shops across the country, this will be the Johnnie-O apparel company’s 13^th branded retail store.

“We are thrilled to welcome the Johnnie-O brand to Watersound Town Center. Our focus is on attracting recognized retailers like Johnnie-O that are looking to establish a flagship presence in a lifestyle center and to introduce their brand in a high-performing market,” said Rebecca Waters, Director of Commercial Sales and Leasing at St. Joe. “With each phase of expansion, the center continues to evolve into a premier destination planned for 400,000 square feet of leasable space at build-out, meeting market demand from restaurant, retail and office tenants.”

With the new multi-tenant retail building, Watersound Town Center will feature approximately 169,000 square feet of leasable retail, restaurant and office space with current tenants including Publix Super Market, Starbucks, J.McLaughlin and Ambrosia Prime Seafood and Steaks, among others. Additionally, Summer House Lifestyle, an interior design studio and lifestyle boutique opened this year, and construction has begun on the third phase of Watersound Executive Suites, which will offer 12 individual offices for lease in addition to the 25 occupied suites.

“The momentum at Watersound Town Center continues to build as we welcome recognized brands along with curated, local favorites. Northwest Florida continues to emerge as a vibrant hub for retail growth, with new businesses entering the market and established brands expanding their footprint across the region,” said William Brock, Vice President for Commercial Real Estate at St. Joe. “Our area’s robust retail environment reflects a dynamic mix of economic growth, tourism-driven demand, and a strong commitment to community-focused development.”

Strategically positioned at the entrance to the Watersound Origins community and near the iconic towns along Scenic Highway 30A, Watersound Town Center has a built-in pipeline of affluent, year-round customers strengthened by the more than five million annual visitors to South Walton.

For more information about Watersound Town Center and leasing opportunities, visit www.watersoundtowncenter.com.

Important Notice Regarding Forward-Looking Statements

This press release contains “forward-looking statements,” within the meaning of Section 21E of the Exchange Act, including statements regarding Watersound Town Center, including future retail, dining, and office space. 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, 2024 and subsequent current report filings as well as (1) the ability of Watersound Town Center to complete the proposed construction as currently contemplated and (2) the interest of prospective tenants and customers.

About The St. Joe Company

The St. Joe Company is a diversified 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. The St. Joe Company has significant residential and commercial land-use entitlements and actively seeks higher and better uses for its real estate assets through a range of development activities. More information about The St. Joe Company can be found on its website at www.joe.com.

©2025 The St Joe Company. “St. Joe^®,” “JOE^®,” the “Taking Flight” Design^®,” “St. Joe (and Taking Flight Design)^®,” “Watersound Origins^®,” and “Watersound^®” are registered service marks of The St. Joe Company.

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