THE MINISTRY OF TOURISM, INVESTMENTS & AVIATION ON REOPENING OF CLUB MED SAN SALVADOR

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SAN SALVADOR, Bahamas (October 25, 2022) – After nearly three years, Club Med Columbus
Isle in San Salvador welcomed guests to its newly renovated and reinvigorated property
today.

Air Canada brought in 120 passengers from Toronto to the breathtaking oceanfront resort.
“It was a monumental achievement for the Government, Team Tourism and Club Med,” said
Deputy Prime Minister and Minister of Tourism, Investments and Aviation Chester Cooper.

“As the pandemic has waned, we have taken an island by island, sector by sector approach to
reopening and reintroducing our product and brands to the world.

“Our concentration on increased airlift has been reaping rewards for The Bahamas and we
expect the same here with this upgraded facility and the upgraded infrastructure on the island.
The property will employ at least 300 Bahamians. It’s a New Day for San Salvador.”

The Deputy Prime Minister noted that Air Caribe will be bringing an additional 200 passengers
Thursday from Europe and Bahamasair has plans to service the island with passengers from
the United States.

Prime Minister Philip Davis, who is also the Member of Parliament for Cat Island, Rum Cay and
San Salvador, said while Club Med put $5 million into the resort, he was focused on upgrading
public infrastructure with the Government allocating $3.5 million to upgrade health clinics,
water resources, the airport and electricity supply.

“The impact of the reopening of Club Med to the economy of San Salvador cannot be
overstated,” said the Prime Minister.

“It will see those who left for work in Nassau and other places return to continue to build their
home. We expect to see at least 350 jobs generated on the island as a result of this. And it
represents opportunities for other Bahamians.

“One of the reasons the property remained closed for so long because the infrastructure had
been neglected over the course of several years. My administration made a commitment to
ensure that would not remain an obstacle to the continued growth of San Salvador. It’s a
commitment that we meant to keep.”

Club Med estimates that 70 percent of its former employees have returned to work with the
reopening and those numbers will grow as occupancy ticks ups.

Club Med’s operating expenses exceed $15 million per month on San Salvador.

The company has operated in the beautiful island in the southern Bahamas for 30 years.

Prime Minister Philip Brave Davis Q.C. and Deputy Prime Minister I Chester COOPER.