March 21, 2018 Dear Ritz-Carlton Destination Club Member, We appreciate the care and concern you have expressed for The Ritz-Carlton Club, St. Thomas and the progress towards complete restoration of the resort due to the significant damage sustained from Hurricane Irma and Hurricane Maria. Our on-site Ladies and Gentlemen remain committed to fully restoring The Ritz-Carlton Club, St. Thomas to welcome back Members. We are happy to report that great progress has been made in this effort. However, while villa remediation is close to completion, there remain challenges to overcome with the restoration effort that include, among other things, replacement of the elevators due to the resort's elevators having sustained extensive damage, restoration of the beach including Coastal Zoning Management approval, procuring furniture that was lost in connection with the remediation of the villas, and restoration of the resort landscaping. As of the date of this communication, reservations are cancelled through May 25, 2018; however, based on the current timeline to complete the remaining restoration of the resort, it appears that The Ritz-Carlton Club, St. Thomas may not reopen before late summer 2018 or early fall 2018 and therefore, it is anticipated that the cancellation period for reservations may be extended beyond May 25, 2018. As soon as the Board of Directors for the Great Bay Condominium Owners Association, Inc. informs its management company as to the applicable opening date, we will send cancellation notices. Members are encouraged not to make travel plans until a final reopening date for The Ritz-Carlton Club, St. Thomas has been determined by the Board of Directors for the Great Bay Condominium Owners Association, Inc. We are closely monitoring The Ritz-Carlton Club, St. Thomas restoration progress and will keep you apprised as to when The Ritz-Carlton Club, St. Thomas will reopen to welcome Members. The island of St. Thomas continues to go through a similar recovery process. While many restaurants and shops are reopening for business, operations have not yet reached normal levels. The overall island foliage has made a strong recovery, although debris and evidence of general island clean-up continue to be prevalent throughout the island. The St. Thomas airport reconstruction continues and airline flights are still limited. Multiple agencies and organizations have come together to restore St. Thomas, and progress updates are posted regularly by local officials. Visit http://informusvi.com/. We know that you desire more specific details regarding the impact to The Ritz-Carlton Club, St. Thomas and continuing remediation efforts and we will provide you additional information on the opening timeline as the restoration progresses. We appreciate your patience and consideration as The Ritz-Carlton Club, St. Thomas continues its restoration efforts. Thank you for your ongoing support! Sincerely, The Ritz-Carlton Destination Club