Watersound® Town Center Continues Retail Momentum With Anthropologie Lease and Johnnie-O Opening

PANAMA CITY BEACH, Fla.--(BUSINESS WIRE)--The St. Joe Company (NYSE: JOE) ("St. Joe" or the "Company") announces that national premium lifestyle retailer Anthropologie has executed a lease at Watersound Town Center for an approximately 9,000 square foot store. Additionally, the Company announces the much-anticipated opening of Johnnie-O, the California-inspired premium men and boys apparel brand. Together, these activities underscore the continued momentum of Watersound Town Center as it attracts an expanding collection of nationally recognized brands.

"We're excited to announce another nationally recognized retailer joining Watersound Town Center while also celebrating the opening of Johnnie-O," said William Brock, St. Joe Vice President of Commercial Real Estate. "The continued interest we're seeing from leading retail brands like Anthropologie and Johnnie-O reflects the strength of this market and the quality of the shopping experience we're creating for the community. Each new retailer builds upon the momentum of those before it, creating a destination that continues to attract both consumers and additional premium brands."

Anthropologie’s Watersound Town Center store will also include an Anthropologie Weddings bridal shop, a dedicated in-store bridal experience offered only at select locations nationwide. Enhancing Anthropologie's signature assortment of women's apparel, accessories, beauty and home merchandise, Anthropologie Weddings offers the opportunity for brides to schedule appointments with wedding stylists and shop a selection of wedding gowns, complemented by a broader assortment of bridesmaid dresses, bridal-event attire, shoes and accessories.

“We are very excited to welcome Anthropologie to the retail collection at Watersound Town Center,” said Rebecca Waters, St. Joe Director of Commercial Sales and Leasing. “Given the strength of the destination wedding business throughout the 30A trade area, we believe the addition of Anthropologie Weddings to the brand’s signature retail offerings will be especially well received and a terrific complement to the market.”

These announcements represent the latest milestone in the continued evolution of Watersound Town Center, which has experienced significant retail momentum over the past year. The center’s expanding collection of retailers includes FP Movement, Hemline, J.McLaughlin, Monkee’s and Sunset Shoes & Lifestyles. Together with Johnnie-O and Anthropologie, these and other businesses at Watersound Town Center continue to create premier shopping and dining experiences for residents and visitors across Northwest Florida.

"Thoughtfully expanding our tenant mix has always been central to our vision for Watersound Town Center," said Waters. "The addition of nationally recognized brands alongside successful regional and local businesses strengthens the overall shopping experience and reinforces Watersound Town Center as a destination for the broader 30A community and its visitors.”

Construction has begun on the new retail building that Anthropologie and other to-be-announced tenants will occupy. Additional information about Anthropologie’s store opening will be announced at a later date. As the center continues its planned expansion, another retail building is anticipated to break ground later this year. Currently featuring approximately 170,000 square feet of retail, restaurant, service and office space, the town center is approximately 98% leased. Plans call for the center to grow to approximately 400,000 square feet to support continued demand. For more information about Watersound Town Center, visit 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 future development in Watersound Town Center. 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, 2025 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 of Watersound Town Center.

About The St. Joe Company

The St. Joe Company is a diversified Florida 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.

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