Report to the Owners From Iron Shore Management on Behalf of Oyster Bay Beach Resort

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Dear Owner,

We hope all of you are having a wonderful and peaceful Holiday Season.

Iron Shore Management continues to work hard to successfully meet and exceed the expectations of Oyster Bay Beach Resort’s Owners and Interval International guest’s by implementing a comprehensive improvement and modernization effort of the Resort. This is essential for keeping the Resort’s facilities at a level that you and our vacation exchange partner, Interval International, have come to expect.

Historic Courtyard Pavilion Renovations

We are pleased to report that this fall we completed the total renovation of the 11 studio rooms in the historic Courtyard building. Most rooms feature spectacular ocean views and elegant furnishings with modern chic Caribbean décor. As expected, the rooms are already receiving rave reviews. Each of these updated rooms feature spacious, furnished balconies for enjoying the stunning views, as well as completely renovated bathrooms and versatile breakfast bars with a mini-fridge, coffee maker and microwave oven — giving guests the option of dining in the room or al fresco on the balcony.

2017 Fee Updates

We’re pleased to announce there will be no Maintenance Fee increase for 2017. The Basic Maintenance fee will remain at $895.

However, considering the ever-increasing expenses on the island — including union-negotiated increases of employee wages, as well the limited purchasing choices of a Caribbean Island enterprise — we find it necessary and prudent to implement a modest increase in some of the other fees.

Therefore, beginning January 2, 2017 there will be a modest increase in upgrade and split use fee(s). Of course, all currently booked reservation will be honored at the old rate.

Following are the new fees effective January 2, 2017 (all amounts in U.S. dollars):

• Upgrade from studio to one bedroom: $234

• Upgrade from studio to two bedroom: $398

• Upgrade from one bedroom (already reserved or owned as fixed week) to a two bedroom: $184

• Split fee: $450

• Cancellation fee: $50

These new fees will provide for a fiscally sustainable resort with ultra-comfortable, modernized accommodations that will not only provide the high-quality vacation experience expected by our members and II exchangers, but also ensure the Resort remains in great condition — despite the very corrosive (yet incredibly beautiful and incomparable) ocean front environment of our peninsula on St. Maarten — for many years to come.

Best Wishes in the New Year,

Ricardo Perez & Anne Marie Brooks

Iron Shore Management