The St. Joe Company and InterMountain Management, LLC Announce the Opening of the 121-Suite Residence Inn by Marriott Panama City Beach Pier Park - Seite 2

"InterMountain is excited to open another hotel in Panama City Beach with our partners at The St. Joe Company," stated Dewey Weaver, Owner of InterMountain. "The positive reception of the neighboring TownePlace Suites since its opening is demonstrative of a strong demand for hotels in the Pier Park shopping and entertainment district, and we are optimistic that we will experience the same success with the Residence Inn.”

Guests can book their stay at Residence Inn by Marriott by calling 850-740-0300 or by visiting the hotel’s website at https://www.marriott.com/en-us/hotels/ecpri-residence-inn-panama-city- ....

Important Notice Regarding Forward-Looking Statements

This press release contains “forward-looking statements,” within the meaning of Section 21E of the Exchange Act. 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 filings as well as the interests of prospective guests in the new hotel.

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. On a regular basis, the Company releases a video showing progress on projects in development or under construction. See https://www.joe.com/video-gallery for more information.

About InterMountain

InterMountain Hotels, a leading hospitality company, is family-owned and operated with a nationwide portfolio of 92 hotels comprised primarily of extended-stay and select-service. Dewey Weaver founded InterMountain approximately 40 years ago, and since then has pursued a strategy of steady, consistent growth through development and ownership of high-quality, premium-branded hotels. With Dewey actively involved in all aspects of a business of a thousand details, InterMountain continues to focus on what has contributed to its success: taking great care of their employees and guests, and building strong, long-term relationships with owners and hotel brands.