Board Resignation and Appointment

Margaritaville (Turks) Limited (MTL) has advised that Mr. Peter Melhado (Non-Executive Director) has resigned from the Board of Directors, effective December 31, 2016. MTL has further advised that Mr. Michael Gerrard, Managing Director -BroadSpan Capital LLC in the United States, has been appointed to the Board as a Non-Executive Director, effective January 17, 2017. Also, effective February 3, 2017 the Audit Committee will have three independent directors, namely: Mr.H. Winston Dear, Mr. John Byles and Mr. Harry Maragh.