The Landings Yacht Golf & Tennis Club, Inc.

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1 The Landings Yacht Golf & Tennis Club, Inc. Annual Membership Meeting February 22, 2019 Presentation by:

2 THE LANDINGS YACHT GOLF & TENNIS CLUB, INC. SUMMARY PROFIT & LOSS FINANCIAL RESULTS OCTOBER SEPTEMBER 2018 ACTUAL BUDGET VARIANCE PRIOR YEAR VARIANCE TOTAL REVENUE $9,515,002 $9,210,943 $304,059 $9,229,222 $285,780 GROSS OPERATING PROFIT $1,236,924 $1,163,503 $73,421 $1,283,979 ($47,055) INCOME OVER EXPENSE $539,939 $726,242 ($186,303) $656,948 ($117,009) -REVENUE EXCESS SPREAD BETWEEN F&B, GOLF AND MARINA -INCOME OVER EXPENSE VARIANCE DUE TO INSURANCE INCREASE CAUSED BY HURRICANE IRMA

3 THE LANDINGS YACHT GOLF & TENNIS CLUB, INC. FOOD & BEVERAGE - COMBINED FINANCIAL RESULTS OCTOBER SEPTEMBER 2018 ACTUAL BUDGET VARIANCE PRIOR YEAR VARIANCE TOTAL REVENUE $1,803,550 $1,733,762 $69,788 $1,703,187 $100,363 INCOME OVER EXPENSE ($381,887) ($404,757) $22,870 ($346,910) ($34,977) REVENUE HIGHLIGHTS: -REVENUE EXCESS TO BUDGET WAS IN THE HELM CLUB / WHEELHOUSE RIGHT IN LINE WITH BUDGET -TOTAL HELM CLUB REVENUE GREW BY $92K OVER PRIOR YEAR INCOME OVER EXPENSE HIGHLIGHTS: -FOOD COST OF SALES WERE CONTROLLED AND ENDED THE YEAR AT 37.4% VERSUS A BUDGET OF 39.5% -BEVERAGE COST PERCENTAGES WERE ALSO WELL CONTROLLED AND ENDED THE YEAR AT 31.6% VERSUS A BUDGET OF 32.1% -PAYROLL COSTS AS A PERCENTAGE OF REVENUE WERE 69.9% VERSUS A BUDGET OF 70.4%

4 THE LANDINGS YACHT GOLF & TENNIS CLUB, INC. GOLF OPERATIONS FINANCIAL RESULTS OCTOBER SEPTEMBER 2018 ACTUAL BUDGET VARIANCE PRIOR YEAR VARIANCE TOTAL REVENUE $375,235 $325,240 $49,995 $327,647 $47,588 INCOME OVER EXPENSE ($68,720) ($81,026) $12,306 ($79,898) $11,178 REVENUE HIGHLIGHTS: -GOLF ROUNDS OVER PRIOR YEAR BY 883 -GOLF ROUND REVENUE OVER BUDGET BY $13,185 AND PRIOR YEAR BY $13,708 -MERCHANDISE SALES WERE UP FROM BUDGET BY $24,512 AND PRIOR YEAR BY $24,055 INCOME OVER EXPENSE HIGHLIGHTS: -MERCHANDISE COST OF SALES PERCENT OF 64.1% VERSUS 63.5% BUDGET

5 THE LANDINGS YACHT GOLF & TENNIS CLUB, INC. TENNIS OPERATIONS FINANCIAL RESULTS OCTOBER SEPTEMBER 2018 ACTUAL BUDGET VARIANCE PRIOR YEAR VARIANCE TOTAL REVENUE $236,656 $262,045 ($25,389) $247,586 ($10,930) INCOME OVER EXPENSE ($241,371) ($226,138) ($15,233) ($219,153) ($22,218) REVENUE HIGHLIGHTS: -REVENUE FELL SHORT OF BUDGET BY $26K MAINLY DUE TO TENNIS CAMP AND OPEN EVENTS INCOME OVER EXPENSE HIGHLIGHTS: -OTHER EXPENSE SAVINGS OF $24,661 TO OFFSET REVENUE SHORTFALL

6 ACTUAL BUDGET VARIANCE PRIOR YEAR VARIANCE TOTAL REVENUE $2,109,844 $1,899,406 $210,438 $1,994,768 $115,076 INCOME OVER EXPENSE $110,250 $53,866 $56,384 $106,600 $3,650 REVENUE HIGHLIGHTS: -FUEL SALES EXCEEDED BUDGET BY $54K COMBINED GAS AND DEISEL -MARINA BOAT SERVICING (SUBCONTRACTOR) REVENUE EXCEEDED BUDGET BY $158K INCOME OVER EXPENSE HIGHLIGHTS: -COST OF SALES OF 80.4% VERSUS 81.3% BUDGET -PAYROLL COST AS A PERCENTAGE OF REVENUE WAS 12.9% COMPARED TO A BUDGET OF 13.8%

7 THE LANDINGS YACHT GOLF & TENNIS CLUB, INC. OVERHEAD DEPARTMENTS FINANCIAL RESULTS OCTOBER SEPTEMBER 2018 ACTUAL BUDGET VARIANCE PRIOR YEAR VARIANCE EXPENSE $3,171,065 $3,168,932 $2,133 $3,132,696 $38,369 -OVERHEAD EXPENSES WERE WELL CONTROLLED AND WERE ON BUDGET

8 THE LANDINGS YACHT GOLF & TENNIS CLUB, INC. RESERVE FUND BALANCES OCTOBER SEPTEMBER 2018 BEGINNING ANNUAL CAPITAL ENDING BALANCE CONTRIBUTIONS EXPENDITURES BALANCE CAPITAL REPLACEMENT FUND $971,524 $909,407 $1,073,058 $807,873 MAJOR REPLACEMENT FUND EXPENDITURES FOR YEAR Driving Range Renovation $351,117 Lake Bank Restoration $19,995 Helm Room Acoustics Improvement $54,470 Helm Kitchen Line Renovation $18,816 Parking Lot - Reconfiguration of Admin Lot $32,174 A/C Air Handler Units $18,752 Main Deck - Carpet & Paint $31,372 Roofing Repairs/Replacements $18,721 Bar Code Scanner - Security Entry $31,624 Cart Barn - Bag Storage System $18,471 Sound System Improvements - Main Deck and Dining Rm $22,415 Lake Pipe Cleaning - Ariel to Outfall $18,000 Aeration System - Lakes 2, 11, 12, 14 $21,923 Compass Rose - Carpet & Paint $16,000 Asphalt Overlay - Cart Paths $21,535 Sidewalks - Paver Repairs $15,974

9 Major Operational Accomplishments 2018: Driving Range & Short Game Practice Area renovation. Added Rack Storage System to increase golf bag storage. Completed evaluation of F&B performance criteria. Added refrigeration and heat lamps to front line. Golf Course conditions continue to be exceptional. Complete change over to new gate entry bar-code system. Added sound system and improved acoustics in the Helm main deck and dining room.

10 Major Operational Goals 2019: Upgrade Jonas system and club servers. Complete review of the condition of A and E Docks. Continue evaluation of F&B performance criteria and changes needed in kitchen operations and equipment. Update long range financial plans and asset schedules. Member Survey.

11 2018 Human Resources Highlights Tight Labor Market Integrated Recruiting Website Presence Social Media Job fairs J1/H2b Visa Market Wage Study and Pay & Benefit Review Harassment Training & Awareness Florida Drug Testing Safety Training & Focus 6 Work Comp Claims

12 Human Resources Action Plan for 2019 Implementation of New and Improved Time & Attendance System Expand & Improve Team Member Orientation Conduct Team Member Survey OSHA Compliance and Safety Audit

The Landings Yacht Golf & Tennis Club, Inc. For The Month Ending January 31, 2018 Fiscal Period 4

The Landings Yacht Golf & Tennis Club, Inc. For The Month Ending January 31, 2018 Fiscal Period 4 The Landings Yacht Golf & Tennis Club, Inc. Table of Contents Financial Overview Pages 1-6 Balance Sheet