The St. Joe Company (NYSE: JOE) (“St. Joe”) announces plans for construction of a Publix Super Market (“Publix”) at Watersound West Bay Center located at the entrance to the Latitude Margaritaville^® Watersound community. The new Publix, planned for approximately 50,000 square feet, including a pharmacy, deli, bakery and an adjacent liquor store, is anticipated to break ground later this year.

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“Publix at Watersound West Bay Center will provide customers with a convenient location, minutes from area beaches, an international airport and a new medical campus,” said Hannah Herring, Publix Media Relations Manager. “We are excited to see construction begin, and we look forward to being a part of Watersound West Bay Center and the continued growth of the region.”

In addition to Publix, plans call for adjacent in-line space as well as a standalone, multi-tenant building. The multi-tenant building is currently under construction and available to lease for anticipated occupancy in early 2026. Watersound West Bay Center is conveniently located to serve the fast-growing State Road 79 corridor and is planned for approximately 500,000 square feet of commercial space in an open-air, pedestrian-friendly shopping and dining destination for residents and visitors alike.

“Residents of the Latitude Margaritaville Watersound community are thrilled to welcome a grocer and commercial options to their growing community,” said William Brock, Vice President of Commercial Real Estate for St. Joe. “We are proud to bring to Watersound West Bay Center a quality brand like Publix along with plans to create leasable spaces for local, regional and national companies. With much anticipated growth along the State Road 79 corridor, this center will be a great addition to the region for both residents and visitors.”

For more information about leasing opportunities, please call 888-836-8353 or email lease@joe.com. Click here for a comprehensive video tour of all St. Joe's commercial assets or visit www.joe.com for more information.

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 the proposed Watersound West Bay Center, and Publix Super Market. 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, its Quarterly Reports on Form 10-Q and subsequent current reports on Form 8-K, as well as the following: (1) the ability of St. Joe to complete Watersound West Bay Center, the building for Publix and a multi-tenant building and (2) the interest of prospective customers and tenants in a Publix Super Market, multi-tenant building and Watersound West Bay Center.

About the St. Joe Company

The St. Joe Company (“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 and 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.

©2025 The St Joe Company. “St. Joe^®,” “JOE^®,” the “Taking Flight” Design^®,” “St. Joe (and Taking Flight Design)^®” and “Watersound^®” are registered service marks of The St. Joe Company. Latitude Margaritaville^® is a trademark of Margaritaville Enterprises, LLC and used under license.

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