South Seas December 2024 Owners Call by Timbers Resorts

OwnersMeeting

December16th,2024

Introduction

GregSpencer

Introduction:WhatWeBelieve

There-developmentofSouthSeasintoaworld-classresortrequiresafresh,thoughtfulapproach. WebelieveathrivingSouthSeasmustdeliverexceptionalserviceandexperiences,leveragebestpracticeresiliencymeasurestosafeguardtheresort'sfutureandbringeconomicbenefittoowners.

Transparent,pragmatic,fact-basedcommunicationwithownersisessentialifwearetoachieve thesegoalstogether.

WerespectfullyaskforyoursupportandcollaborationasweworktogethertoelevateSouthSeasto the#1familyresortintheUnitedStates.

Introduction:KeyTakeawaysThisMonth

KeyTakeaway#1:FestiveSeasonisinfullswingwiththeresortreopeningofficiallyonDecember19th

KeyTakeaway#2:TheClutchcoursehasbeenreconfiguredintoatemporary9-holecourseisnowopen.



KeyTakeaway#3:Scoops&Slices,RedfishGrill,andHarborsideareexpectedtoopenthisWinter.



KeyTakeaway#4:CaptivaLanding,theresort’snewsouthwateramenity,hasofficiallystartedconstruction

KeyTakeaway#5:BeachHouseconstructionunderwaywithexpectedopeningSpring/Summer2025.

Resort Operations Update

ShawnFarrell

ResortOperationsUpdate–Dining

ShellCityBurgers|LocatedatTheShopsatSouthSeas

•Hours:10:00AM–5:00PM

•TemporarilylocatedatTheShopsatSouthSeasandopentothe community

IslandTacos|LocatedatBayviewPoolComplex

•Hours:10:00AM–5:00PM

TarponBar|BayviewPoolComplex

•Hours:10:00AM–5:00PM

Starbucks|TheShopsatSouthSeas

•Hours:6:30AM–1:30PM

Provisions|TheShopsatSouthSeas

•Hours:8:00AM–4:00PM

ResortOperationsUpdate–Experiences

TheClutch

•TheClutchcoursehasbeenreconfiguredintoatemporary9-hole courseandopen.WeanticipateTheClutchClubhouseopeningsoon.

Marinas

•YachtHarbourandCaptivaLandingMarina-TheMarinaofficeis currentlyunderrenovation.Thedocksarebeingevaluatedfor additionalenhancementsbeforereopening.

BayviewFishingPier

•TheBayviewfishingpierwillnotbeopen.Wearecontinuingrepairs onthegateaswellasthewalkwaytothepier.Weanticipateopening late-December.

ResortOperationsUpdate–Experiences

SunsetBeach

•SunsetBeachopensDecember19th ResortCarts

•Chargingstationsareavailableatthesouthandnorthendofthe property

BayviewPoolComplex

•Open

ResortOperationsUpdate

TheShopsatSouthSeasParkingLotWillBeClosed:

•December20thforFestive

•December21stforFestive

ParkingtovisittheoutletswillbemadeavailableintheConferenceCenter lot.

Provisions,Starbucks,andShellCityBurgerswillbeopenduringboth FestiveandtheFarmersMarket.

ResortOpeningDates

•OpenedforOwnerson11/25

•Openedtosometimeshareguests12/13

•Opentotransientleisureguests12/19

ResortOperationsUpdate–ResortParking&DebrisRemoval

DebrisRemoval

•FEMAdebrisremovaliscomplete

•AnyadditionaldebrisremovalwillbetheresponsibilityoftheOwner orAssociationmovingforward Parking

•Parkingthroughouttheresortwillbeenforced Construction

•Foryoursafetyandsecuritypleasekeepoutofanyconstructionareas

Check-in

•Themaingatewillbeusedforcheck-in.

•Wewillbechangingthecheck-inlocationinthenearfuturetothe ConferenceCenter.

•Newwayfindingsignagewillbecomingsoon.

•Ifyouneedtovisitouroffices,wearestilllocatedinTheShopsat SouthSeas.

Sales&MarketingUpdate–KeyUpdates

•SocialMedia

•DigitalMarketing

•PublicRelations

•MarketConditions

•Festive

•AdditionalUpdates

Sales&Marketing–PaidSocialMediaResults

UpcomingSocialMedia

Generated$79k/19bookings

Generated$161k/54bookings

DataRange:Dec1-11

DataRange:November1-30

Sales&Marketing–PublicRelations

FestiveandthepromotionofChrisShucontinuetogetcoveragethroughoutNovemberintoDecember. SouthSeaswasmentioned100timesinthemonthofNovember2024bothLocal,Nationaland International.

100MentionsinthemonthofNovember2024

-86OnlineEditorial

-6PrintEditorial

-TVBroadcastEditorial

-1SocialMediaExposure

Sales&Marketing–MarketConditions

FortMyers,LeeCountyReport

•January2025iscurrentlydown-3.9%inroomnightssoldYOYand February2025+2.4%inroomnightssoldYOY,Marchis–16.2%,andup +11.0%inApril.

•STRreported11/22/2024

MarketsaffectedbyHurricaneHeleneandHurricaneMiltoncontinuetosee soliddemandgrowthinFloridaoverthepastfourweeks.Hotelsinseven marketsAugusta,Columbia,FloridaCentral,Greenville,NorthCarolina West,SarasotaandTampahaveseendoubledigitoccupancyincreases Theresortiscurrentlyperformingat68%bettertothesametimelastyear.

Sales&Marketing–FESTIVE

HolidayStroll–LocatedatTheShopsatSouthSeas

December20&21,2024

'TwastheNightBeforeChristmasReadingfrom6pmto8pm followedbythetreelighting.ComplimentarytastingatProvisions, HolidayspiritsavailableatShellCity,andlivemusic.Extended hoursforStarbucksandShellCityfrom6pmuntil8pm

FamilyGameShowNight–JukeboxBingoandFamilyGames

December28,2024

FestiveGlowPutt-PuttNight–GlowGolf&Smore's December29,2024

NewYear'sEventCelebration–SunsetBeach December31,2024 6pmuntil10pm

Sales&Marketing–Additionalupdates

•SeasonofSavingsemailpromotionstarted11/22/2024andended 12/3/2024,whichoffered30%savingsforbookingsthrough September2025.Theresultswereover$600Kbookedfor2025.

•WinterinParadisepromotiontoopenon12/19/2024

•HolidayResortCartPromotion30%savingsthrough12/31/2024. ThisofferisonlyvalidforthemonthofDecember2024.

•FarmersMarketeveryTuesdayatTheShopsatSouthSeas

Owner Relations Update

OwnerRelationsUpdate-OwnerPortal

WelcomebacktoourGuests

Wearethrilledtowelcomebackour guestsstartingthis Thursday,December19th,2024 andcelebratetheHolidaySeason withourFestiveWeek.

Residences

Weareexcitedtowelcomebackresort gueststoyourresidences.Ourteamsin OwnerRelations,Housekeepingand Engineeringhavebeenassistingingetting you’reyourhomesreadyforguest occupancy.

GettingReadyfor2025

OurofficeispreparingyourOwnerCardsif youhaveanactivereservationoverthe Holidaysandinto2025.Pleasestopbyto retrieveyourcards.WealsohavetheSouth SeasParkingDecalsforyourpersonal vehiclesandgolfcartsavailable. Wewillbecontinuingtomeetwithownersto discussthenewrentalagreementand questionsyoumayhave.

SouthSeas Build-Back& FutureAmenities

GregSpencer

Build-Back&FutureAmenitiesUpdate

CompletedProjects

•HurricaneCleanUp(Ian)

•DebrisRemoval(Ian)

•RedfishPassRevetmentRebuild(Ian)

•Lands’EndRoadRepair(Ian)

•Lands’EndGuardrailInstallation(Ian)

•North&SouthMarinaRestoration(Ian)

•BayviewFishingPierReconstruction(Ian)

•SlideRepair&Commissioning(Ian)

•ShopsatSouthSeasBathrooms

•BayviewPoolRenovation

•TheClutchGolfCourse

•PlantationHouseCartInfrastructure

•JoggingPatharoundLandsEnd(Ian)

•Provisions

•CartParkingExpansion@Bayview

•ResortLandscaping

UnderConstruction

•ClutchClubhouse–JanuaryOpen

•RedfishGrill–JanuaryOpen

•Scoops&Slices–JanuaryOpen

•SouthSeasSpirits–LateJanuaryOpen

•HarborsideRestaurant–MarchOpen

•ResortLandscapingBuilding

•SouthSeasRealEstate–LateFebruaryOpen

•SouthSeasOutfitters–MarchOpen

•TheBeachHouse–MayOpen

•CaptivaLanding–Late2025Open

•ConferenceCenterActivation

PlannedProjects

•SouthSeasSpa&Fitness

(DevelopmentOrderApproved)

•OwnerRelationsBuilding

(AllPermitsApproved)

•ResortServicesBuilding

(AllPermitsApproved)

•CentralReconstruction

•ResortServicesBuilding

•ConeRooms/DocFordsDemolition

•Post2024HurricanesLandscaping

•ResiliencyEnhancement

ResortAmenitiesReferenceMap

Bayview Marina

RedfishGrill+ Scoops&Slices

Bayview FishingPier

Bayview Pool

Clutch

Clubhouse (New)

ConferenceCenterActivation (TemporaryCheck-In+Fitness)

CaptivaLandingMarina

Harborside Bar&Grill

Cart Parking GolfCart Rental

CaptivaLanding (NewSouthWaterAmenity)

Shopsat

SouthSeasSpa&Fitness (NewResortAmenity)

BeachHouse (NewBeachfrontRestaurant)

SunsetBeach

SouthSeas (NewConcepts) Provisions

TheClutch (NewGolfCourse)

RedfishGrill(OverlookingBayviewPool)

RedfishGrill-Rendering

Designsandrenderingsaresubjecttochangeatthediscretionofthedeveloper.Theinformationpresentedisforillustrativepurposesonlyanddoesnotconstituteacommitmenttodeliverthefinalproductas depicted.Actualdesignsandspecificationsmayvary.Allrightsreservedbythedeveloper.