South Seas Redevelopment Informational Session, December 2023

South Seas Redevelopment Information Session

South Seas Ownership Group Our strategic acquisition of South Seas was driven by a commitment to restoring the property's original grandeur.

We are confident in achieving this by investing significantly in the development of premier resort amenities that blend world-class quality with environmental consciousness. Our approach involves constructing contemporary and resilient hotel and residential offerings to endure future storms. Additionally, we aim to implement family-friendly resort programs that make the most of the character of Captiva and its natural beauty.

Ultimately, our overarching objective is to establish South Seas as the #1 family resort in the United States.

1

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Agenda  Rezoning Application  Existing Condition at South Seas  Redevelopment Master Plan  Resort Wide Benefit

2

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Rezoning Application Summary 1.

Convert outdated zoning administrative interpretation, ADD2002-00098 (ADD), to a Mixed Use Planned Development (MPD) to conform with Lee County’s Land Development Code

2.

South Seas to comply with the Lee County comprehensive plan’s future land use height restriction for Outlying Suburban, namely 45’ over minimum permittable habitable floor  South Seas is not asking for 75’ of height  South Seas is committing to three stories over parking/commercial that fits with the resort and Captiva’s historically-developed character.

3.

Maintain existing rights to develop 272 dwelling (residential) units as vested by the ADD

4.

Enable the commercial development of up to 435 "hotel keys" in two areas  North Hotel (Old Harborside Hotel Site) will consist of 185-225 hotel keys  In place of hurricane-damaged 107-key Harborside Hotel, a renovation rendered unfeasible by evolving federal flood maps  South Hotel (Old Conference Center Site) will consist of 180-210 hotel keys  In place of outdated and uninsurable conference center 3

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Rezoning Application Highlights  Contrary to public statements, our ADD provided for modifications, however it referenced a section in the county land development code that does not exist anymore  The full zoning process will be followed with expert testimony addressing critical issues issues such as traffic, public works, environmental, and economic impact  The rezoning process, administered by Lee County, is expected to take nine months and public hearings will occur at various milestones  The rezoning application does not impact mangroves, wetlands, and other environmentally sensitive areas and any development will take place on previously disturbed land  The zoning Master Concept Plan provides twice the amount of indigenous preservation required by Lee County’s Code (39 acres provided vs. 18 acres required)  The MPD will preserve all aspects of existing ADD except for building height, definition of dwelling unit, and hotel units as a commercial classification  Our approach prioritizes responsible development, striving to uphold the ecological balance and biodiversity of the area 4

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Existing Condition at South Seas Decline of South Seas The resort was in decline 20 years prior to our purchase due to aging structures, dated amenities, and lack of investment by prior resort owner  Declining Resort Rankings in both national hospitality media and social media due to dated amenities and overall lack of investment throughout the resort  Changing consumer behavior has led to a decrease in group business and more demand for leisure focused accommodations and amenities  South Seas lacks amenities consumers expect at a top-rated resort  The aging hotel and residential structures contain dated finishes, lower ceiling heights, and smaller kitchen & bathrooms, consequently impacting guest satisfaction scores  The vulnerabilities of aging structures to storm surge and powerful winds have been demonstrated by hurricanes Charley, Wilma, Irma, and Ian, all within the last 20 years 5

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Existing Condition at South Seas Decline in Recognized Resort Rankings Currently, South Seas is currently ranked as the 110th best resort in FLORIDA!!! The lack of consumer facing awards and recognitions is impacting both rental and owner real estate valuations.  Forbes Travel Guide Star Ratings: Never Rated  AAA Diamond Rating: Currently Three Diamond  Travel & Leisure World’s Best Awards: Never Awarded  Condé Nast Traveler Readers' Choice Awards: Never Received  TripAdvisor Travelers' Choice Awards: Never Received  U.S. News & World Report Best Hotels and Resorts: Currently #110 Best Florida Resort Timbers’ property in Italy, Castello di Casole, was recognized by Travel & Leisure as the #1 Resort in Europe for five years in a row and the #2 hotel in the world.

6

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Existing Condition at South Seas Conference Challenges  Deteriorating Conference Center and Operational Challenges  The continuous decline in the condition of the conference center, coupled with an outdated facility lacking modern amenities, presents operational challenges  Obsolete & uninsurable building  Limitations in managing large group events due to need for multiple venues and dining arrangements.

 Intensified Competition and Market Changes  Lack of competitive edge when compared to regional resorts (Marriott Marco, Sanibel Marriott, LaPlaya, and Hyatt Coconut Point) highlight the importance of a strong value proposition  Accessibility issues and outdated room facilities impacted overall guest experience and the resort's reputation as a desirable hosting site

7

Existing Condition at South Seas

Rezoning Application

Redevelopment Master Plan

Resort Wide Benefit

Existing Condition at South Seas Offerings behind Competitive Set Resort Amenities

JW Marco Marriott

LaPlaya Beach & Golf

Don Cesar & Beach House

Hyatt Coconut Point

Resort At Long Boat Key

South Seas Resort

Diamond Rating

4

4

4

4

4

3

F&B Options

12

3

7

8

5

5

Spa/Yoga

Yes

Yes

Yes

Yes

Yes

Not Currently

Golf Courses

Two

One

No

Three

Three

One

Fitness Center

Yes

Yes

Yes

Yes

Yes

Not Currently

Pools

4

4

2

4

1

2

Kids Camps

Yes

No

Yes

Yes

Yes

Not Currently

Beach Services

Yes

Yes

Yes

Yes - Offsite

Yes

Yes

Watersports

Yes

Yes

Yes

No

Yes

Yes

Cabana Services

Yes

Yes

Yes

Yes

Yes

Yes

Wedding Venues

Yes

Yes

Yes

Yes

Yes

No

Retail Outlets

Yes

Yes

Yes

Yes

Yes

Yes

94 Room Adult Only Hotel Section

Private Club Memberships

Private Club Memberships

3 Acre Waterpark

20 Tennis & Pickleball courts

Other

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Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Existing Conditions at South Seas Offerings behind Competitive Set

(Photos from Hyatt Coconut Point, JW Marriott Marco Island, LaPlaya Beach & Golf, and Resort at Longboat Key)

9

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Existing Conditions at South Seas Offerings behind Competitive Set

(Photos from Hyatt Coconut Point, JW Marriott Marco Island, LaPlaya Beach & Golf, and Resort at Longboat Key)

10

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Existing Conditions at South Seas Aging Hotel & Residential Product The outdated hotel and dated residential product were losing favor among consumers, leading to a decline in guest satisfaction scores and declining profit potential for RMA participants.

Actual TripAdvisor Comments

11

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Redevelopment Master Plan North End of Resort

1 2 3 4 5

New Hotel New Beachfront Condos

6

1

The Clutch Golf Course

3

New Spa & Fitness Enhanced Infrastructure

6

New Bayfront Condos

7

The Beach House Restaurant

5

5 2

4 7

Disclaimer: The plans and renderings provided herewith are conceptual and intended for the purpose of illustrating potential future development.

They do not represent finalized designs or guarantee specific features, layouts, or timelines. All details, including but not limited to architectural elements, landscaping, amenities, and dimensions, are subject to change at the discretion of the developers.

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Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Redevelopment Master Plan North End of Resort 1 New 185-225 key hotel. Due to changes in federal flood maps, this redevelopment is in place of the deteriorated pre-existing Harborside hotel that is being demolished

2 New beachfront condominium development that includes dune expansion that will enhance coastal aesthetics, promote environmental stewardship, and provide natural coastal protection

3 A newly envisioned golf short course, The Clutch, designed by a nationally recognized course architect Beau Welling featuring a resort clubhouse and landscaping facilities will be introduced in 2024

4 A new Spa & Fitness center situated between the end of the marina and the four way stop sign 5 Enhanced stormwater incorporating a re-engineered drainage, deeper ponds, with the ability to handle storm generated water on the golf course

6 New bayfront condominium development on the recreation island, previously utilized as parking for Captiva Cruises

7 The Beach House, a beachfront restaurant, will be one of the only beachfront dining options on Captiva and will serve Gulf of Mexico inspired cuisine.

13

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Redevelopment Master Plan South End of Resort

1 2 3 4 5

Future Captiva Landing New Resort Services Buildings Captiva Landing Marina New Beachfront Condos New Hotel & Conference Center

6

Resort Golf Cart Rentals

7

Re-concepted Shops at South Seas

3 2 1

5

7 6

4

Disclaimer: The plans and renderings provided herewith are conceptual and intended for the purpose of illustrating potential future development.

They do not represent finalized designs or guarantee specific features, layouts, or timelines. All details, including but not limited to architectural elements, landscaping, amenities, and dimensions, are subject to change at the discretion of the developers.

14

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Redevelopment Master Plan South End of Resort 1 New Captiva Landing amenity featuring a kids slide structure, lazy river, cove pool, Americana dining, arcade, and a Camptiva Kids Camp to provide a much-needed water amenity at the south end of the resort

2 New centralized resort services building and new owner relations buildings relocating our team to a single location

3 Activated Captiva Landing marina with new water sports programming and potential future interpretive trail to Pine Island Sound

4 New beachfront condominium development 5 New hotel and event space to support resort focused groups and weddings 6 Resort eco-friendly, geofenced all-electric golf cart rental will provide a quieter experience and more control over cart access

7 Re-concepted Shops at South Seas shopping center bringing in a mix of national retailers and local offerings including the new Provisions store

15

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Redevelopment Master Plan Conceptual Building Height for Residential Product All concepted buildings are three habitable floors over parking or commercial with no buildings exceeding 45’ over permittable habitable floor

Coastal Construction Control Line Affected Development

Non-Coastal Construction Control Line Affected Development

Disclaimer: The plans and renderings provided herewith are conceptual and intended for the purpose of illustrating potential future development.

They do not represent finalized designs or guarantee specific features, layouts, or timelines. All details, including but not limited to architectural elements, landscaping, amenities, and dimensions, are subject to change at the discretion of the developers.

16

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Redevelopment Master Plan Conceptual Building Height for Hotel Product All concepted buildings are three habitable floors over parking or commercial with no buildings exceeding 45’ over permittable habitable floor

North Resort Hotel

South Resort Hotel

Disclaimer: The plans and renderings provided herewith are conceptual and intended for the purpose of illustrating potential future development.

They do not represent finalized designs or guarantee specific features, layouts, or timelines. All details, including but not limited to architectural elements, landscaping, amenities, and dimensions, are subject to change at the discretion of the developers.

17

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Redevelopment Master Plan Resilient Structures Incorporate solar panels within protected wind load settings on the roof parapet to facilitate cooling and moisture control post-storm events. Additionally, engineer mechanical systems in rooftop mechanical wells to minimize wind load impacts and eliminate storm surge impact.

Disclaimer: The plans and renderings provided herewith are conceptual and intended for the purpose of illustrating potential future development.

They do not represent finalized designs or guarantee specific features, layouts, or timelines. All details, including but not limited to architectural elements, landscaping, amenities, and dimensions, are subject to change at the discretion of the developers.

18

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Redevelopment Master Plan Resilient Structures Raise vehicle parking under units to 8 foot minimum (where practical) to mitigate storm surge impacts.

Disclaimer: The plans and renderings provided herewith are conceptual and intended for the purpose of illustrating potential future development.

They do not represent finalized designs or guarantee specific features, layouts, or timelines. All details, including but not limited to architectural elements, landscaping, amenities, and dimensions, are subject to change at the discretion of the developers.

19

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Redevelopment Master Plan Development Intent Summary  Thoughtfully construct new, resilient condominium and hotel product that meets current consumer taste and expectations in line with the intimate character and beauty of the island  Build new structures to 185 mph wind standards, with ample flood protection, and with protected and redundant mechanical systems  Build premier resort amenities that blend world-class quality with environmental consciousness that are necessary to attract high-end hotel guest and real estate buyers  Improve overall resort experience through increased rental product standards, consistent rental experience, and sufficient pricing for the use and enjoyment of amenities  Focus on family-oriented programming and experiences highlighting the natural beauty of Captiva with the goal of becoming the #1 family resort in the US  Participating owners in the RMA program and non-renting Club Captiva owners see a significant boost to overall property values by the implementation of state-of-the-art resort amenities and enhancements

20

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Redevelopment Master Plan Product Example – Timbers Kauai (Hawaii)

21

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Redevelopment Master Plan Product Example – Timbers Kauai (Hawaii)

22

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Redevelopment Master Plan Product Example – Timbers Kiawah (South Carolina)

23

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Redevelopment Master Plan Product Example – Timbers Kiawah (South Carolina)

24

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Redevelopment Master Plan Product Example – Rosewood Naples (Florida)

25

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Redevelopment Master Plan Product Example – Rosewood Naples (Florida)

26

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Redevelopment Master Plan Product Example – Rosewood Lido Key (Florida)

27

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Redevelopment Master Plan Product Example – Rosewood Lido Key (Florida)

28

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Redevelopment Master Plan South Seas' Vision and Club Captiva Overview Prior to Hurricane Ian’s landfall, the South Seas Ownership group was planning an extensive upgrade of existing resort amenities and a new Club Captiva resort experience and rental program with the best-in-class amenities. Damage caused by the storm led to expansion of our vision and an acceleration of our efforts to both repair damaged amenities and to deliver new amenities.

Exclusively available to members, Club Captiva will prove a significant boost to overall resort rental rates and property values of real estate owners. Even those that choose to not participate in Club Captiva, or the rental program will benefit from the future potential to participate.

29

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Redevelopment Master Plan Redfish Grill (Total Renovation)

Disclaimer: The plans and renderings provided herewith are conceptual and intended for the purpose of illustrating potential future development.

They do not represent finalized designs or guarantee specific features, layouts, or timelines. All details, including but not limited to architectural elements, landscaping, amenities, and dimensions, are subject to change at the discretion of the developers.

30

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Redevelopment Master Plan Redfish Grill (Total Renovation)

Disclaimer: The plans and renderings provided herewith are conceptual and intended for the purpose of illustrating potential future development.

They do not represent finalized designs or guarantee specific features, layouts, or timelines. All details, including but not limited to architectural elements, landscaping, amenities, and dimensions, are subject to change at the discretion of the developers.

31

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Redevelopment Master Plan Scoops & Slices (Total Renovation & New Location)

Disclaimer: The plans and renderings provided herewith are conceptual and intended for the purpose of illustrating potential future development.

They do not represent finalized designs or guarantee specific features, layouts, or timelines. All details, including but not limited to architectural elements, landscaping, amenities, and dimensions, are subject to change at the discretion of the developers.

32

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Redevelopment Master Plan Scoops & Slices (Total Renovation & New Location)

Disclaimer: The plans and renderings provided herewith are conceptual and intended for the purpose of illustrating potential future development.

They do not represent finalized designs or guarantee specific features, layouts, or timelines. All details, including but not limited to architectural elements, landscaping, amenities, and dimensions, are subject to change at the discretion of the developers.

33

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Redevelopment Master Plan Harborside Grill (Total Renovation)

34

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Redevelopment Master Plan Beach House (New Beachfront Restaurant)

Disclaimer: Future Amenities Renderings The following renderings are conceptual and subject to change during development. Actual amenities may differ due to regulatory requirements and practical constraints. The development team reserves the right to modify the designs without prior notice. Please refer to the final approved plans for accurate details.

35

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Redevelopment Master Plan Beach House (New Beachfront Restaurant)

Disclaimer: Future Amenities Renderings The following renderings are conceptual and subject to change during development. Actual amenities may differ due to regulatory requirements and practical constraints. The development team reserves the right to modify the designs without prior notice. Please refer to the final approved plans for accurate details.

36

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Redevelopment Master Plan Captiva Landing (New South Water Amenity)

Disclaimer: The plans and renderings provided herewith are conceptual and intended for the purpose of illustrating potential future development.

They do not represent finalized designs or guarantee specific features, layouts, or timelines. All details, including but not limited to architectural elements, landscaping, amenities, and dimensions, are subject to change at the discretion of the developers.

37

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Redevelopment Master Plan Captiva Landing (New South Pool Water Amenity)

Brand New Amenity Includes: • State of the Art Waterslide Complex • Lazy River • Cove Pool • Camptiva (Kid’s Club) • Flippers (F&B Outlet) • Arcade

Disclaimer: The plans and renderings provided herewith are conceptual and intended for the purpose of illustrating potential future development.

They do not represent finalized designs or guarantee specific features, layouts, or timelines. All details, including but not limited to architectural elements, landscaping, amenities, and dimensions, are subject to change at the discretion of the developers.

38

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Redevelopment Master Plan The Clutch Golf Course + Clubhouse (New Clubhouse)

Disclaimer: The plans and renderings provided herewith are conceptual and intended for the purpose of illustrating potential future development.

They do not represent finalized designs or guarantee specific features, layouts, or timelines. All details, including but not limited to architectural elements, landscaping, amenities, and dimensions, are subject to change at the discretion of the developers.

39

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Redevelopment Master Plan The Clutch Golf Course + Clubhouse (New Clubhouse)

Disclaimer: The plans and renderings provided herewith are conceptual and intended for the purpose of illustrating potential future development.

They do not represent finalized designs or guarantee specific features, layouts, or timelines. All details, including but not limited to architectural elements, landscaping, amenities, and dimensions, are subject to change at the discretion of the developers.

40

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Redevelopment Master Plan The Clutch Golf Course + Clubhouse (New Short Course)

HOLE 1 2 3 4 5 6 7 8 9A 9B 10 11 12 TOTAL

NAME The Calusa Key Lime Mariner Heron The Vow Osprey Redfish Junonia Hawksbill Loggerhead Egret Snook Manatee

PAR 3 3 3 3 3 3 3 3 3 3 3 3 3 36/39

Disclaimer: The plans and renderings provided herewith are conceptual and intended for the purpose of illustrating potential future development.

They do not represent finalized designs or guarantee specific features, layouts, or timelines. All details, including but not limited to architectural elements, landscaping, amenities, and dimensions, are subject to change at the discretion of the developers.

BACK TEE (Yards) 71 83 90 101 88 97 139 82 54 76 112 94 100 1187

41

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Redevelopment Master Plan South Seas Spa & Fitness (New Amenity Facility)

Disclaimer: The plans and renderings provided herewith are conceptual and intended for the purpose of illustrating potential future development.

They do not represent finalized designs or guarantee specific features, layouts, or timelines. All details, including but not limited to architectural elements, landscaping, amenities, and dimensions, are subject to change at the discretion of the developers.

42

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Redevelopment Master Plan Bayview Pool Renovation (Total Renovation)

Renovation includes: • All new Chaise Lounges • All new Cabanas • Increased Seating + Increased Green Space • Lush new landscaping • All new AV sound system • All new drainage infrastructure • New Tiki location Expecting completion Late December 2023

Progress as of 11/30/2023 Disclaimer: The plans and renderings provided herewith are conceptual and intended for the purpose of illustrating potential future development.

They do not represent finalized designs or guarantee specific features, layouts, or timelines. All details, including but not limited to architectural elements, landscaping, amenities, and dimensions, are subject to change at the discretion of the developers.

43

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Redevelopment Master Plan Bayview Fishing Pier (Total Reconstruction)

44

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Redevelopment Master Plan Resort Wide Landscaping Enhancement

45

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Resort Wide Benefit Club Captiva How does this benefit you?  Increased Attractiveness: The addition of new amenities and total renovations of all existing amenities will make the resort more appealing to potential guests; thereby, increasing the overall demand for rental properties.  Higher Occupancy: With a more attractive resort, there is a likelihood of higher occupancy rates, ensuring that third-party owners have a better chance of renting out their properties consistently.  Improved Rental Rates: Upgraded amenities and new offerings will allow and justify higher rental rates, potentially leading to increased revenue for owners participating in the South Seas Rental Program.  Enhanced Guest Experience: The overall enhancement of the resort's facilities contribute to a more positive guest experience, leading to satisfied and fullyengaged guests who may be more likely to return, creating a recurring rental market for South Seas Rental Program Owners.

46

Rezoning Application

Existing Condition at South Seas

Redevelopment Master Plan

Resort Wide Benefit

Resort Wide Benefit Club Captiva How does this benefit you?  Competitive Advantage: A resort with modernized amenities and a diverse range of offerings will gain a competitive edge in the market, attracting more guests and, consequently, benefiting Owners in the South Seas Rental Program. Additionally, there will be memberships available for property owners that choose not to participate in the rental management program.  Increased Property Values: The overall improvement and expansion of the resort can positively impact property values, providing South Seas Owners with the potential for higher capital appreciation over time.  Extended Rental Seasons: New amenities and improved offerings will attract guests during different seasons (low and shoulder), helping extend the rental season and providing more opportunities to generate rental income.  Marketing Opportunities: A revitalized resort provides fresh marketing opportunities, allowing owners to leverage the resort's improved image and hospitality rankings to attract a broader audience through greater marketing reach.

47

Closing The redevelopment and repositioning of South Seas into a world-class resort is going to take a thoughtful and fresh approach to highlight everything that is special about Captiva, while rebuilding a resort that will appeal to owners and guests for the next several decades. We have already made significant investments in infrastructure and amenities prior to submitting any zoning request. We believe that our plan provides the right balance of residential product and hotel inventory to support the significant growth in both residential values and rental income. A thriving South Seas is a vibrant South Seas that delivers exceptional service and experiences. We respectfully ask for your support in our pursuit of becoming the #1 family resort in the U.S. 48