Revenue Performance - Total revenue for the three months ended March 31, 2021, was $41.3 million, a significant increase from $18.6 million in the same period in 2020, representing a growth of 122.0%[234]. - Real estate revenue increased to $21.0 million in Q1 2021 from $5.8 million in Q1 2020, marking a growth of 262.1%[234]. - Hospitality revenue rose to $13.1 million in Q1 2021, compared to $6.6 million in Q1 2020, reflecting an increase of 98.5%[234]. - Residential real estate revenue surged to $20.5 million in Q1 2021, up from $2.9 million in Q1 2020, a growth of 607.7%[236]. - Revenue from homesite sales increased by $15.3 million during Q1 2021 compared to Q1 2020, with average revenue per homesite sold at approximately $73,000, down from $113,000[252]. - Revenue from clubs increased by $2.5 million, or 65.8%, during Q1 2021, with membership growing to 1,722 members from 1,284 members year-over-year[258]. - Revenue from hotel operations and related services increased by $2.8 million, or 112.0%, in Q1 2021, with a gross margin of 1.9% compared to a negative margin of 68.0% in Q1 2020[259]. - Total leasing revenue increased by $1.3 million, or 30.2%, during Q1 2021, with a total leasing gross margin of 51.8%, down from 86.0% in the same period last year[264][265]. Segment Contributions - For the three months ended March 31, 2021, the residential segment contributed 50.0% to consolidated operating revenue, up from 16.4% in the same period of 2020[199]. - The hospitality segment accounted for 31.5% of consolidated operating revenue in Q1 2021, a decrease from 35.3% in Q1 2020[199]. - The hospitality segment includes operations of the WaterColor Inn and WaterSound Inn, which generate revenue from service and rental fees[214]. Development and Construction - As of March 31, 2021, the company had 1,268 residential homesites under contract, expected to generate approximately $114.0 million in revenue, compared to 979 homesites and $91.0 million in revenue expected as of March 31, 2020[208]. - The Latitude Margaritaville Watersound community is projected to include approximately 3,500 residential homes, with construction of the sales center and 13 model homes completed in April 2021[203]. - The residential homesite pipeline includes a total of 19,499 homesites across various stages of development, permitting, and planning[205]. - The company is constructing multiple new hospitality properties, including an Embassy Suites hotel and a Hilton Garden Inn, with construction expected to begin in Q2 2021 for a new waterfront Hotel Indigo[215]. - The commercial segment is constructing 703 apartment units, in addition to 414 recently completed units and 107 senior living units[224]. - The company operates two marinas and is planning new marinas along the Intracoastal Waterway, with partial reconstruction expected to open by the end of 2021[219]. - The company has several commercial projects in planning, including a 50,000 square foot Publix supermarket and a 71,000 square foot self-storage facility[227]. Financial Position - Cash and cash equivalents decreased to $52.3 million as of March 31, 2021, down from $106.8 million as of December 31, 2020[273]. - Outstanding loans as of March 31, 2021, totaled $172.3 million, an increase from $161.4 million as of December 31, 2020[276]. - The company incurred $167.4 million in construction and development-related contractual obligations as of March 31, 2021[275]. - The company had net rentable square feet of approximately 907,000 as of March 31, 2021, with 780,000 square feet under lease[265]. - The company recorded a retained interest of $13.1 million related to notes from a timberland sale, representing future cash flows[298]. Operational Metrics - Total operational rooms amount to 195, with an additional 689 rooms under development, bringing the total to 939 rooms[217]. - The number of members at Watersound Club rose to 1,722 as of March 31, 2021, an increase of 438 members from 1,284 members in the same period in 2020[240]. - Total apartment units completed as of March 31, 2021, were 1,224, with an overall occupancy rate of 81%, up from 60% for the completed units as of December 31, 2020[271]. Cash Flow and Investments - Net cash provided by operating activities for the three months ended March 31, 2021, was $9.8 million, compared to $3.1 million for the same period in 2020[302]. - Net cash used in investing activities during the three months ended March 31, 2021, was $68.6 million, which included capital expenditures of $25.1 million[303][304]. - Net cash provided by financing activities for the three months ended March 31, 2021, was $4.6 million, including borrowings on debt of $11.3 million[305]. Strategic Focus and Future Outlook - The company plans to focus on its core business of real estate development and asset management to increase recurring revenue and long-term shareholder value[194]. - The company expects to optimize the value of its real estate by developing residential, hospitality, and commercial projects to meet market demands and generate recurring revenues[308]. - The company aims to expand its hospitality assets and services to enhance their value and contribution to overall performance[308]. - The company is exploring opportunities for joint ventures (JVs) with third parties to efficiently utilize land assets while reducing capital requirements[308]. - The company is focused on strategic infrastructure and economic development initiatives to attract quality job creators and diversify the Northwest Florida economy[308]. - The company is committed to a cost and investment discipline to ensure low fixed expenses and improve bottom line performance[308]. Risks and Challenges - The ongoing COVID-19 pandemic poses a risk of disruptions that could affect operations and market demand[312]. - There are concerns regarding the ability to obtain land use entitlements and construction financing in a timely manner[312]. - Economic conditions such as inflation, unemployment rates, and consumer confidence may impact future prospects in the Southeastern U.S. and demand for housing[312]. - The company is dependent on the real estate industry, which is cyclical, affecting revenue consistency and pace in residential real estate[312]. - There is a potential risk of negative cash flows and losses due to the long-term property development strategy if self-development of entitlements continues[312].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number: 1-10466 The St. Joe Company (Exact name of registrant as specified in its charter) Florida 59-0432511 (State or other j ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number: 1-10466 The St. Joe Company (Exact name of registrant as specified in its charter) Indicate by check mark w ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number: 1-10466 The St. Joe Company (Exact name of registrant as specified in its charter) | Florida | 59-0432511 | | -- ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number: 1‑10466 The St. Joe Company (Exact name of registrant as specified in its charter) | Florida | 59‑0432511 | | - ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number: 1‑10466 The St. Joe Company (Exact name of registrant as specified in its charter) Florida 59‑0432511 (State or other j ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number: 1‑10466 The St. Joe Company (Exact name of registrant as specified in its charter) | Florida | 59‑0432511 | ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number: 1‑10466 The St. Joe Company (Exact name of registrant as specified in its charter) | Florida | 59‑0432511 | | -- ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10‑Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number: 1‑10466 The St. Joe Company (Exact name of registrant as specified in its charter) Florida 59‑0432511 (State or ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10‑K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number: 1‑10466 The St. Joe Company (Exact name of registrant as specified in its charter) Florida 59‑0432511 (State or other j ...