WASHINGTON PRIME GROUP INC. (Exact Name of Registrant As Specified in Its Charter)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K

CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) November 5, 2020

WASHINGTON PRIME GROUP INC. (Exact name of Registrant as specified in its Charter)

Indiana 001-36252 46-4323686 (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.)

180 East Broad Street Columbus Ohio 43215 (Address of Principal Executive Offices) (Zip Code)

Registrant's telephone number, including area code (614) 621-9000

N/A

(Former name or former address, if changed since last Report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions (see General Instruction A.2. below): [☐] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [☐] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [☐] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [☐] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbols Name of each exchange on which registered Common Stock, $0.0001 par value per share WPG New York Stock Exchange 7.5% Series H Cumulative Redeemable Preferred Stock, par value $0.0001 per share WPGPRH New York Stock Exchange 6.875% Series I Cumulative Redeemable Preferred Stock, par value $0.0001 per share WPGPRI New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company [☐] If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ] Item 2.02 Results of Operations and Financial Condition. On November 5, 2020, Washington Prime Group Inc. (the “Company” or “Registrant”) issued a news release regarding its results of operations for the three and nine months ended September 30, 2020.

A copy of the news release is furnished with this report as Exhibit 99.1. A copy of the Company's supplemental information for the three and nine months ended September 30, 2020, which is referenced in the news release and available on the Company's website, is furnished with this report as Exhibit 99.2. The information in this Form 8-K and the exhibits attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended (the "Act"), or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 7.01 Regulation FD Disclosure. A copy of the “Third Quarter 2020 Earnings Presentation” presentation is available on the Registrant’s website (www.washingtonprime.com) and is furnished with this Form 8-K as Exhibit 99.3. The information provided under this Item 7.01 of this Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Exchange Act nor shall it be deemed incorporated by reference into any filing under the Act or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits. (a) Financial statements of businesses acquired. Not applicable. (b) Pro forma financial information. Not applicable. (c) Shell company transactions. Not applicable. (d) Exhibits 99.1 News Release of Washington Prime Group Inc., dated November 5, 2020. 99.2 Supplemental Information for the three and nine months ended September 30, 2020. 99.3 Third Quarter 2020 Earnings Presentation 104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101). SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

Washington Prime Group Inc. (Registrant)

Date: November 5, 2020 By: /s/ Mark E. Yale Mark E. Yale Executive Vice President and Chief Financial Officer (Principal Financial Officer) Exhibit 99.1

Washington Prime Group Announces Third Quarter 2020 Results Highlights: • The Company has collected 87% of 3Q 20 rental income and associated charges adjusted for the applicable impact of COVID-19 lease amendments and related rent concessions; • Notwithstanding a challenging retail landscape as a result of the COVID-19 pandemic, year-to-date leasing volume exhibited a 7.0% YOY increase totaling 3.4M SF and 47% of new leasing volume was attributable to lifestyle tenancy; • The Company successfully executed amendments to its credit facilities during 3Q 20, which provides certain covenant relief through the third quarter of 2021; • The Company is actively negotiating specific measures with existing debt investors that would result in deleveraging of its balance sheet if execution is successful; • The Company ended 3Q 20 with $112M cash on hand; • As previously announced and subject to common shareholder approval, the Company intends to enter into a reverse common share split (1:9) by the end of the year whereby nine of the existing common shares are to be converted to a single common share; and • The Board of Directors declared the fourth quarter dividend for the Company’s preferred shares. COLUMBUS, OH – November 5, 2020 – Washington Prime Group Inc. (NYSE: WPG) today reported financial and operating results for the third quarter ended September 30, 2020. As previously announced, and due to the uncertain conditions resulting from the coronavirus (COVID-19) pandemic, the Company withdrew its full-year 2020 earnings guidance issued on February 26, 2020. Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Net loss per diluted share $ (0.23) $ (0.02) $ (0.64) $ (0.14) FFO per diluted share $ 0.07 $ 0.45 $ 0.25 $ 1.04 FFO per diluted share, as adjusted $ 0.07 $ 0.28 $ 0.30 $ 0.86

A description of each non-GAAP financial measure and the related reconciliations to the comparable GAAP financial measure are provided in this press release.

Third Quarter Financial Results Net loss attributable to common shareholders for the third quarter of 2020 was $43.7 million, or $(0.23) per diluted share, compared to a net loss of $4.4 million, or $(0.02) per diluted share, a year ago. The year-over-year (YOY) difference relates primarily to the significant impacts of tenant lease modifications and increased bad debt expense related to delinquent receivables during the third quarter of 2020 due to the ongoing COVID-19 pandemic resulting in lower YOY revenue of $37.5 million partially offset by lower recoverable operating expenses of $2.9 million. Results for the third quarter of 2020 include a non-cash impairment loss of $1.1 million, which compares to $28.9 million of such charges in the same quarter a year ago. Other items contributing to the YOY change include a reduction in gain on sales of outparcels of $8.2 million, compared to the same quarter a year ago. Funds from Operations (FFO) for the third quarter of 2020 was $16.6 million, or $0.07 per diluted share, which compares to $100.9 million, or $0.45 per diluted share, during the same quarter a year ago. The YOY decrease in FFO is primarily attributed to reductions in comparable net operating income (NOI) of $41.5 million for the portfolio as well as a decrease of $0.4 million in non-cash straight-line income, both primarily from the negative impact of COVID-19. Included in FFO during the third quarter of 2019 is a gain on extinguishment of debt of $38.9 million. When adjusting for this gain, FFO, as adjusted, for the third quarter of 2019 was $62.0 million, or $0.28 per diluted share. There was no such gain during the third quarter of 2020.

Business Highlights Continued Leasing Strength in the Face of the COVID-19 Pandemic • Year-to-date leasing volume through September 30, 2020 exhibited a 7.0% YOY increase totaling 3.4M SF; • During the COVID-19 pandemic, between March and September, 486 leases were signed totaling 2.5M SF; • 47% of new leasing volume year-to-date was attributable to lifestyle tenancy which includes food, beverage, entertainment, home furnishings, fitness, and professional services; • The aforementioned 3.4M SF year-to-date follows annual leasing volume of 4.4M SF, 4.2M SF, and 4.0M SF during 2019, 2018 and 2017, respectively, totaling 16.0M SF since 2017; and • Year-to-date adaptive reuse openings include: Dunham’s Sports, WVU Medicine and Ollie’s Bargain Outlet at Morgantown Mall; Dunham’s Sports at Markland Mall; Morris Furniture at both The Mall at Fairfield Commons and Dayton Mall; and FieldhouseUSA at The Outlet Collection™ | Seattle.

Relatively Stable Operating Metrics when Considering the National Crisis • New releasing spreads for Tier One assets exhibited an increase of 1.6% for the twelve months ended September 30, 2020; • Releasing spreads for combined Tier One and Open Air assets decreased 3.1% for the twelve months ended September 30, 2020, with 2.8% of the decline attributable to rent concessions for renewals completed in response to the COVID-19 pandemic; • As of September 30, 2020, combined Tier One and Open Air occupancy decreased 230 basis points YOY to 91.2%, • Reported YOY comparable sales decreased 8% for 3Q 20 albeit ending on a positive note with an increase of 2% during the month of September for Tier One assets; and • Traffic trends have exhibited steady weekly sequential improvement since reopening in June notwithstanding a leveling off during July, followed by improvement in August and September with a subsequent tempering during October.

Net Operating Income Performance and Rent Collection Rate Shows Improvement from 2Q 20 • As a result of the COVID-19 pandemic, 3Q 20 Tier One comparable NOI decreased 41.4% YOY while Open Air comparable NOI decreased 13.6%, resulting in a combined decrease of 32.6% or $35.0M. Both Open Air and Tier One properties showed a sequential improvement in NOI trends from the previous quarter decrease of 53.1% for Tier One, 24.5% for Open Air and a combined decrease of 44.6%. This decrease can best be explained by factors which include a cautious view of the future collection of outstanding pandemic related rental income including temporarily moving to cash basis revenue recognition relating to the Company’s national theater tenancy in 3Q 20 ($8M), the impact of rental relief including moving to percentage rent structures for certain tenants ($3M), the impact from 2Q 20 and 3Q 20 bankruptcies ($6M), and reserving for credit risk tenants that are materially delinquent on payments ($13M). The decrease includes the impact of both completed and in process COVID-19 related lease modifications; • For 3Q 20, the Company has collected approximately 87% of rental income and associated charges adjusted for the applicable impact of COVID-19 lease amendments and related rent concessions, which is an improvement from the 52% of contractual rental income and associated charges without lease amendments collected during 2Q 20. The collection rate for 3Q 20 is comprised of approximately 84% for enclosed assets and approximately 95% for Open Air assets based on the applicable impact of COVID-19 lease amendments and related rent concessions; and • For 4Q 20, the Company anticipates a decrease in comparable NOI between 10% and 20% which would represent improvement from the previous two quarters’ performance. This assumes that the Company’s properties remain open throughout the fourth quarter and are not significantly impacted by any future government-mandated operating restrictions.

Progress, Proactivity and Initiatives Continued to Define the Company during the COVID-19 Pandemic • While all of the Company’s assets have reopened, the Company realizes that future temporary closures may be necessary in response to an uptick in COVID-19 cases and government mandates; • While the Company’s assets were fully or partially closed, a concerted effort focused upon safe reopening and included a best practices manual, tenant discussion forums and the launch of Retail-to-Go curbside pickup services; • Fulventory, the Company’s last mile fulfilment initiative, has been met with tenant response which has surpassed expectations as illustrated by the recent leasing of an 80,000 SF medical logistics, distribution and fulfillment facility, an inventory clearance facility to a sporting goods retailer and several letters of intent and ongoing discussions with existing and prospective tenants to address portfolio wide fulfillment solutions; and • Such industry leading initiatives as WPG Cares and Open for Small Business have been exemplary with respect to the Company serving as a community and tenant resource. For instance, WPG Cares has participated in over 1,000 community service projects; Open for Small Business has hosted over 25 webinars attended by several thousand participants; and Well Picked Goods benefitted the Company’s tenancy during asset closures via digital merchandise curation and an in store gift card promotion as reopening occurs.

Department Store Adaptive Reuse and Mixed Use Progress • Of the 18 adaptive reuse projects addressed, the Company held discussions with the respective tenancy and every single one remains committed to open, albeit seven projects are delayed to 4Q 20 or 1H 21; • As of September 30, 2020, the Company has resolved 18, or 64%, of the 28 department stores of which the Company has control; • As exhibited within the most recent 3Q 20 supplemental, the Company continues to provide real time updates relating to the 30 department stores within its Tier One and Open Air assets identified for repositioning (excluding space owned by third parties such as Seritage Growth Properties). As of September 30, 2020, only two of these department store spaces remained occupied by Sears; • Clay Terrace, Carmel, Indiana: Planning continues for mixed uses, including multifamily rental units, as well as a lifestyle hotel, new office space, and space intended for lifestyle, food and beverage uses; • WestShore Plaza, Tampa, Florida: As the Company continues the process of obtaining necessary entitlements regarding a mixed use redevelopment replacing the Sears site at the property, a letter of intent was executed with a third party developer to add residential units, office space, and a potential hotel to this parcel; • Westminster Mall, Westminster, California: A purchase and sale agreement was executed as it relates to the mixed use redevelopment and previously discussed monetization of Westminster Mall. The planned sale of this property will result in excess of $50M in net cash proceeds; and • In addition to the aforementioned, the Company has identified eight assets which are suitable for mixed use redevelopment and it is estimated these assets could result in multifamily densification totaling over 4,000 units as well as a host of other nonretail uses. Discussions at various stages are underway with municipalities to achieve zoning entitlements as well as financial and strategic partners to execute upon these value add mixed use projects. Lou Conforti, CEO and Director of Washington Prime Group, Commentary: “There can be no denying the COVID-19 pandemic has resulted in a set of new challenges for an already beleaguered retail sector. Notwithstanding, ever since joining Washington Prime Group, my objective has been straightforward: Provide Middle America whether it be Oklahoma City, Oahu, Albuquerque or Columbus with relevant goods and services via our dominant town center proposition. I emphasize Middle America as it is this demographic constituency which has been largely ignored. It became crystal clear we couldn’t sit on our hands waiting for the usual suspects to lease our space. Nor were we going to regain our guests’ respect by superficial and patronizing measures. It was going to require a fundamental shift as to how WPG regards its role as landlord. By this I mean proactive operator by diversifying tenancy, activating common area and delivering relevant adaptive reuse projects.

“Then the COVID-19 pandemic reared its ugly head.

“While it was certainly one heck of a blow, it’s not a knockout punch and it actually strengthened our Company’s conviction about the midsize cities where our assets are primarily situated. While we have previously substantiated the relative vibrancy of these trade areas, there is a growing perspective which I believe will serve as a catalyst for midsize cities which possess robust commercial, educational and cultural infrastructures. While it’s certainly not an easy task, WPG believes our reimagined assets are an integral part of this proposition.”

Unsecured Indebtedness and Liquidity On August 17, 2020, the Company announced it entered into amendments with respect to its credit facilities, which will provide certain covenant relief through the third quarter of 2021 (the “Amendments”), further strengthening and supporting the Company’s execution of its long term business plan.

The Amendments will be partially collateralized by properties making up approximately half of the Company’s previously unencumbered net operating income, with the Company having the ability to release the security starting in the third quarter of 2021 if certain financial conditions are met. The all-in interest rate, depending on total leverage levels, will range from LIBOR plus 2.35% to 2.60% with a LIBOR floor of 50 basis points. The Company was in compliance with all applicable covenants as of the end of most recently completed fiscal quarter that ended September 30, 2020.

Additionally, the Company is actively working on measures with existing debt investors that would result in deleveraging of its balance sheet if execution is successful. When considering the amended financial covenant requirements and the positive impact from the potential deleveraging measures described above, the Company projects, based upon internal estimates that it will remain in compliance with these revised financial covenants along with other unsecured debt covenants. However, with the continued uncertainty caused by the COVID-19 pandemic, significant risks remain and any material adverse effect on our income and expenses could impact our ability to maintain compliance with our credit facility and bond covenants. Additionally, there can be no assurances of the terms or conditions that any such deleveraging transaction would include or that the Company will be able to consummate such transaction on a timely basis, or at all.

The Company ended 3Q 20 with $112M cash on hand and estimates its year end cash balance will be between $125M to $135M.

Mortgage Loans The Company executed an extension on the mortgage note payable secured by Grand Central Mall, located in Parkersburg, West Virginia, extending the maturity by one year to July 6, 2021.

The final mortgage note maturing in 2020 involves Port Charlotte Town Center, in Port Charlotte, Florida, and the Company expects to execute a short term extension on the mortgage. Company Plans for a 1-for-9 Reverse Share Split As previously announced, on August 6, 2020, the Board of Directors authorized a 1-for-9 reverse share split of the Company’s common shares and operating units which is subject to common shareholder approval. Upon common shareholder approval and as a result of the reverse share split, each 9 shares of the Company's issued and outstanding common stock will be automatically combined and converted into one issued and outstanding share of common stock. The Company plans to hold a virtual special meeting of common shareholders on December 17, 2020 to vote upon a proposal regarding the reverse share split.

The implementation of the reverse share split is intended to increase the per share trading price of the Company’s common stock to fulfill the $1.00 minimum bid price requirement for continued listing on the New York Stock Exchange.

Board of Directors Declares Quarterly Dividend for Preferred Shares On November 5, 2020, the Board of Directors declared a quarterly cash dividend of $0.4688 per Series H preferred share of beneficial interest, $0.4297 per Series I preferred share of beneficial interest, and $0.4563 per Series I-1 preferred unit of Preferred Limited Partnership Interest. Each of the cash dividends on these preferred shares and preferred units is payable on January 15, 2021 to preferred shareholders and operating partnership unit holders of record on December 28, 2020.

As previously announced on April 15, 2020 and due to the COVID-19 pandemic, the Board decided to temporarily suspend the quarterly cash dividend for common shares and operating partnership units throughout the remainder of the year. The Board of Directors will revisit the dividend policy for common shares and operating partnership units in early 2021 based on the Company’s REIT taxable income distribution requirements.

Earnings Call and Webcast The Company will host its quarterly earnings conference call and an audio webcast on Friday, November 6, 2020 at 11:00 a.m. Eastern Time.

The live webcast will be available in listen-only mode from the investor relations section of the Company’s website at www.washingtonprime.com. Listeners can also access the call by dialing 833.235.7642 (or +647.689.4163 for international callers), and the participant passcode is 6327958.

A replay of the call will be available on the Company’s website, or by calling 800.585.8367 (or +1.416.621.4642 for international callers), passcode is 6327958, beginning on Friday, November 6 2020, at approximately 1:00 p.m. Eastern Time through midnight on Friday, November 20, 2020.

Supplemental Information

For additional details on the Company’s results and properties, please refer to the Supplemental Information report on the investor relations section of the Company’s website. This release as well as the supplemental information have been furnished to the Securities and Exchange Commission (SEC) in a Form 8-K.

About Washington Prime Group Washington Prime Group Inc. is a retail REIT and a recognized leader in the ownership, management, acquisition and development of retail properties. The Company combines a national real estate portfolio with its expertise across the entire shopping center sector to increase cash flow through rigorous management of assets and provide new opportunities to retailers looking for growth throughout the U.S. Washington Prime Group® is a registered trademark of the Company. Learn more at www.washingtonprime.com.

Contacts Lisa A. Indest, CAO & EVP, Finance, 614.887.5844 or [email protected] Kimberly A. Green, VP, Investor Relations & Corporate Communications, 614.887.5647 or [email protected] Non-GAAP Financial Measures This press release includes FFO and NOI, including same property NOI growth, which are financial performance measures not defined by generally accepted accounting principles in the United States (GAAP). Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures are included in this press release. FFO and comparable NOI growth are financial performance measures widely used by securities analysts, investors and other interested parties in the evaluation of REITs. The Company believes that FFO provides investors with additional information regarding operating performance and a basis to compare the Company’s performance with that of other REITs.

The Company uses FFO in addition to net income to report operating results. We determine FFO based on the definition set forth by the National Association of Real Estate Investment Trusts (NAREIT) as net income computed in accordance with GAAP, excluding real estate related depreciation and amortization, excluding gains and losses from extraordinary items and cumulative effects of accounting changes, excluding gains and losses from the sales or disposals of previously depreciated retail operating properties, excluding impairment charges of depreciable real estate, plus the allocable portion of FFO of unconsolidated entities accounted for under the equity method of accounting based upon economic ownership interest.

NOI is used by industry analysts, investors and Company management to measure operating performance of the Company’s properties. NOI represents total property revenues less property operating and maintenance expenses. Accordingly, NOI excludes certain expenses included in the determination of net income such as corporate general and administrative expense and other indirect operating expenses, interest expense, impairment charges and depreciation and amortization expense. These items are excluded from NOI in order to provide results that are more closely related to a property’s results of operations. In addition, the Company’s computation of same property NOI excludes termination income and income from outparcel sales. The Company also adjusts for other miscellaneous items in order to enhance the comparability of results from one period to another. Certain items, such as interest expense, while included in FFO and net income, do not affect the operating performance of a real estate asset and are often incurred at the corporate level as opposed to the property level. As a result, management uses only those income and expense items that are incurred at the property level to evaluate a property’s performance. Real estate asset related depreciation and amortization, as well as impairment charges, are excluded from NOI for the same reasons that they are excluded from FFO pursuant to NAREIT’s definition.

Non-GAAP financial measures have limitations as they do not include all items of income and expense that affect operations, and accordingly, should always be considered as supplemental to financial results presented in accordance with GAAP. Investors should understand that the Company’s computation of these non-GAAP measures might not be comparable to similar measures reported by other REITs and that these non-GAAP measures do not represent cash flow from operations as defined by GAAP, should not be considered as alternatives to net income determined in accordance with GAAP as a measure of operating performance and are not alternatives to cash flows as a measure of liquidity. Investors are cautioned that items excluded from these measures are significant components in understanding and addressing financial performance. Reconciliations of these measures are included in the press release.

Regulation Fair Disclosure (FD) The Company routinely posts important information online on the investor relations section of the corporate website. The Company uses this website, press releases, SEC filings, conference calls, presentations and webcasts to disclose material, non-public information in accordance with Regulation FD. The Company encourages members of the investment community to monitor these distribution channels for material disclosures. Any information accessed through the Company’s website is not incorporated by reference into, and is not a part of, this document. Forward-Looking Statements This news release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 which represent the current expectations and beliefs of management of Washington Prime Group Inc. (“WPG”) concerning the proposed transactions, the anticipated consequences and benefits of the transactions and the targeted close date for the transactions, and other future events and their potential effects on WPG, including, but not limited to, statements relating to anticipated financial and operating results, future liquidity, the Company’s plans, objectives, expectations and intentions, cost savings and other statements, including words such as “anticipate,” “believe,” “confident,” “plan,” “estimate,” “expect,” “intend,” “will,” “should,” “may,” and other similar expressions. Such statements are based upon the current beliefs and expectations of WPG’s management, and involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of WPG to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, without limitation: changes in asset quality and credit risk; ability to sustain revenue and earnings growth; changes in political, economic or market conditions generally and the real estate and capital markets specifically; the impact of increased competition; the availability of capital and financing; tenant or joint venture partner(s) bankruptcies; the failure to increase store occupancy and same-store operating income; risks associated with the acquisition, disposition, (re)development, expansion, leasing and management of properties; changes in market rental rates; trends in the retail industry; relationships with anchor tenants; risks relating to joint venture properties; costs of common area maintenance; competitive market forces; the level and volatility of interest rates; the rate of revenue increases as compared to expense increases; the financial stability of tenants within the retail industry; the restrictions in current financing arrangements or the failure to comply with such arrangements; the liquidity of real estate investments; the impact of changes to tax legislation and WPG’s tax positions; losses associated with closures, failures and stoppages associated with the spread and proliferation of the coronavirus (COVID-19) pandemic; to qualify as a real estate investment trust; the failure to refinance debt at favorable terms and conditions; loss of key personnel; material changes in the dividend rates on securities or the ability to pay dividends on common shares or other securities; possible restrictions on the ability to operate or dispose of any partially-owned properties; the failure to achieve earnings/funds from operations targets or estimates; the failure to achieve projected returns or yields on (re)development and investment properties (including joint ventures); expected gains on debt extinguishment; changes in generally accepted accounting principles or interpretations thereof; terrorist activities and international hostilities; the unfavorable resolution of legal or regulatory proceedings; failure of the contemplated reverse share split to accomplish the Company’s objectives for the action and such other adverse consequences on the marketability and liquidity of the Company’s common stock; the impact of future acquisitions and divestitures; assets that may be subject to impairment charges; significant costs related to environmental issues; changes in LIBOR reporting practices or the method in which LIBOR is determined; and other risks and uncertainties, including those detailed from time to time in WPG’s statements and periodic reports filed with the Securities and Exchange Commission, including those described under “Risk Factors”. The forward-looking statements in this communication are qualified by these risk factors. Each statement speaks only as of the date of this press release and WPG undertakes no obligation to update or revise any forward-looking statements to reflect new information, subsequent events or circumstances. Actual results may differ materially from current projections, expectations, and plans, if any. Investors, potential investors and others should give careful consideration to these risks and uncertainties.

### CONSOLIDATED STATEMENTS OF OPERATIONS Washington Prime Group Inc. (Unaudited, dollars in thousands, except per share data)

Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Revenue: Rental income $ 120,138 $ 154,611 $ 363,421 $ 474,114 Other income 3,544 6,593 11,625 17,347 Total revenues 123,682 161,204 375,046 491,461

Expenses: Property operating (36,067) (39,007) (101,456) (114,868) Real estate taxes (19,611) (19,014) (58,300) (61,006) Advertising and promotion (1,811) (2,323) (4,915) (6,241) Total recoverable expenses (57,489) (60,344) (164,671) (182,115) Depreciation and amortization (58,063) (70,948) (173,147) (209,142) General and administrative (11,107) (12,210) (34,721) (39,459) Ground rent (243) (215) (574) (613) Impairment loss (1,067) (28,936) (26,186) (28,936) Total operating expenses (127,969) (172,653) (399,299) (460,265)

Interest expense, net (39,725) (38,833) (115,805) (114,806) Impairment on note receivable — — (11,237) — Gain on disposition of interests in properties, net 1,620 9,825 28,812 26,056 Gain on extinguishment of debt, net — 38,913 — 38,913 Income and other taxes (154) 120 (130) (465) Loss from unconsolidated entities, net (5,515) (241) (11,301) (2,002) Net loss (48,061) (1,665) (133,914) (21,108) Net loss attributable to noncontrolling interests (7,832) (752) (22,026) (4,774) Net loss attributable to the Company (40,229) (913) (111,888) (16,334) Less: Preferred share dividends (3,508) (3,508) (10,524) (10,524) Net loss attributable to common shareholders $ (43,737) $ (4,421) $ (122,412) $ (26,858)

Loss per common share, basic and diluted $ (0.23) $ (0.02) $ (0.64) $ (0.14) CONSOLIDATED BALANCE SHEETS Washington Prime Group Inc. (Unaudited, dollars in thousands)

September 30, December 31, 2020 2019 Assets: Investment properties at cost $ 5,777,708 $ 5,787,126 Construction in progress 177,895 115,280 5,955,603 5,902,406 Less: accumulated depreciation 2,499,937 2,397,736 3,455,666 3,504,670

Cash and cash equivalents 95,328 41,421 Tenant receivables and accrued revenue, net 119,472 82,762 Investment in and advances to unconsolidated entities, at equity 411,923 417,092 Deferred costs and other assets 135,182 205,034 Total assets $ 4,217,571 $ 4,250,979

Liabilities: Mortgage notes payable $ 1,104,800 $ 1,115,608 Notes payable 709,785 957,566 Term loans 683,475 686,642 Revolving credit facility 641,874 204,145 Other indebtedness 86,062 97,601 Accounts payable, accrued expenses, intangibles, and deferred revenues 257,252 260,904 Distributions payable 3,323 3,252 Cash distributions and losses in unconsolidated entities, at equity — 15,421 Total liabilities 3,486,571 3,341,139

Redeemable noncontrolling interests 3,265 3,265

Equity: Stockholders' equity Series H Cumulative Redeemable Preferred Stock 104,251 104,251 Series I Cumulative Redeemable Preferred Stock 98,325 98,325 Common stock 19 19 Capital in excess of par value 1,260,677 1,254,771 Accumulated deficit (801,722) (655,492) Accumulated other comprehensive loss (14,885) (5,525) Total stockholders' equity 646,665 796,349 Noncontrolling interests 81,070 110,226 Total equity 727,735 906,575 Total liabilities, redeemable noncontrolling interests and equity $ 4,217,571 $ 4,250,979 RECONCILIATION OF FUNDS FROM OPERATIONS INCLUDING PRO-RATA SHARE OF UNCONSOLIDATED PROPERTIES Washington Prime Group Inc. (Unaudited, dollars in thousands, except per share data)

Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Funds from Operations ("FFO"): Net loss $ (48,061) $ (1,665) $ (133,914) $ (21,108) Less: Preferred dividends and distributions on preferred operating partnership units (3,568) (3,568) (10,704) (10,704) Real estate depreciation and amortization, including joint venture impact 67,183 81,155 200,684 239,060 Impairment loss, including (gain) on disposition of interests in properties, net 1,067 24,992 774 24,992 FFO $ 16,621 $ 100,914 $ 56,840 $ 232,240

Adjusted Funds from Operations: FFO $ 16,621 $ 100,914 $ 56,840 $ 232,240 Impairment on note receivable — — 11,237 — Gain on extinguishment of debt, net — (38,913) — (38,913) Adjusted FFO $ 16,621 $ 62,001 $ 68,077 $ 193,327

Weighted average common shares outstanding - diluted 225,670 224,176 224,814 223,676

FFO per diluted share $ 0.07 $ 0.45 $ 0.25 $ 1.04 Total adjustments $ — $ (0.17) $ 0.05 $ (0.17) Adjusted FFO per diluted share $ 0.07 $ 0.28 $ 0.30 $ 0.86 RECONCILIATION OF NET OPERATING INCOME GROWTH FOR COMPARABLE PROPERTIES INCLUDING PRO-RATA SHARE OF UNCONSOLIDATED PROPERTIES Washington Prime Group Inc. (Unaudited, dollars in thousands)

Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 Variance $ 2020 2019 Variance $

Reconciliation of Comp NOI to Net Loss: Net loss $ (48,061) $ (1,665) $ (46,396) $ (133,914) $ (21,108) $ (112,806)

Loss from unconsolidated entities 5,515 241 5,274 11,301 2,002 9,299 Income and other taxes 154 (120) 274 130 465 (335) Impairment on note receivable — — — 11,237 — 11,237 Gain on disposition of interests in properties, net (1,620) (9,825) 8,205 (28,812) (26,056) (2,756) Gain on extinguishment of debt, net — (38,913) 38,913 — (38,913) 38,913 Interest expense, net 39,725 38,833 892 115,805 114,806 999 Operating (Loss) Income (4,287) (11,449) 7,162 (24,253) 31,196 (55,449)

Depreciation and amortization 58,063 70,948 (12,885) 173,147 209,142 (35,995) Impairment loss 1,067 28,936 (27,869) 26,186 28,936 (2,750) General and administrative 11,107 12,210 (1,103) 34,721 39,459 (4,738) Fee income (2,087) (3,242) 1,155 (5,504) (8,669) 3,165 Management fee allocation 79 39 40 115 124 (9) Pro-rata share of unconsolidated joint ventures in comp NOI 11,412 17,619 (6,207) 39,391 52,443 (13,052) Property allocated corporate expense 4,269 4,342 (73) 13,216 12,675 541 Non-comparable properties and other (1) 1,471 (15) 1,486 2,740 (888) 3,628 NOI from sold properties 30 (1,137) 1,167 (62) (4,681) 4,619 Termination income (172) (100) (72) (278) (1,512) 1,234 Straight-line rents, net (1,429) (1,036) (393) 64 (2,943) 3,007 Ground lease adjustments for straight-line and fair market value 5 5 — 15 15 — Fair market value and inducement adjustments to base rents (4,776) (915) (3,861) (7,407) (5,302) (2,105) Less: Tier 2 and noncore properties (2) (2,422) (8,907) 6,485 (17,357) (29,616) 12,259 Comparable NOI - Tier 1 and Open Air properties $ 72,330 $ 107,298 $ (34,968) $ 234,734 $ 320,379 $ (85,645) Comparable NOI percentage change - Tier 1 and Open Air properties -32.6 % -26.7 %

(1) Represents an adjustment to remove the NOI amounts from properties not owned and operated in all periods presented, certain non-recurring expenses (such as hurricane related expenses), as well as material insurance proceeds and other non-recurring income received in the periods presented. This also includes adjustments related to the rents from the outparcels sold to Four Corners.

(2) NOI from the Tier 2 and noncore properties held in each period presented.

SAFE HARBOR: Some of the information contained in this presentation includes forward looking statements. Such statements are subject to a number of risks and uncertainties which could cause actual results in the future to differ materially and adversely from those described in the forward-looking statements. Investors should consult the Company's filings with the Securities and Exchange Commission for a description of the various risks and uncertainties which could cause such a difference before deciding whether to invest.

Table of Contents

Page Financial Statement Data Consolidated statements of operations (unaudited) 1 Consolidated balance sheets (unaudited) 2 Supplemental balance sheet detail 3 Components of rental income, other income and corporate overhead 4 Reconciliation of funds from operations - including pro-rata share of unconsolidated properties 5 Reconciliation of net operating income growth for comparable properties - including pro-rata share of unconsolidated properties 6

Debt Information Summary of debt 7 EBITDAre 8

Operational Data Operating metrics 9 Leasing results and base rent psf 10 Releasing spreads 11 Top 10 tenants 12 Lease expirations 13

Development Activity Capital expenditures 14 Redevelopment projects 15 Department store repositioning status 16

Property Information Property information 17-19

Other Non-GAAP pro-rata financial information 20 Proportionate share of unconsolidated properties - statements of operations (unaudited) 21 Proportionate share of unconsolidated properties - balance sheet (unaudited) 22 Glossary of terms 23

CONSOLIDATED STATEMENTS OF OPERATIONS Washington Prime Group Inc. (Unaudited, dollars in thousands, except per share data)

Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019

Revenue: Rental income (see components on page 4) $ 120,138 $ 154,611 $ 363,421 $ 474,114 Other income (see components on page 4) 3,544 6,593 11,625 17,347 Total revenues 123,682 161,204 375,046 491,461

Loss per common share, basic and diluted $ (0.23) $ (0.02) $ (0.64) $ (0.14)

SUPPLEMENTAL INFORMATION | 1 CONSOLIDATED BALANCE SHEETS Washington Prime Group Inc. (Unaudited, dollars in thousands)

Cash and cash equivalents 95,328 41,421 Tenant receivables and accrued revenue, net (see components on page 3) 119,472 82,762 Investment in and advances to unconsolidated entities, at equity 411,923 417,092 Deferred costs and other assets (see components on page 3) 135,182 205,034 Total assets $ 4,217,571 $ 4,250,979

Liabilities: Mortgage notes payable $ 1,104,800 $ 1,115,608 Notes payable 709,785 957,566 Term loans 683,475 686,642 Revolving credit facility 641,874 204,145 Other Indebtedness 86,062 97,601 Accounts payable, accrued expenses, intangibles, and deferred revenues (see components on page 3) 257,252 260,904 Distributions payable 3,323 3,252 Cash distributions and losses in unconsolidated entities, at equity — 15,421 Total liabilities 3,486,571 3,341,139

Redeemable noncontrolling interests 3,265 3,265

SUPPLEMENTAL INFORMATION | 2 SUPPLEMENTAL BALANCE SHEET DETAIL Washington Prime Group Inc. (unaudited, dollars in thousands)

September 30, December 31, 2020 2019

Tenant receivables and accrued revenue, net: Straight-line receivable, net of reserve $ 42,099 $ 42,061 Tenant receivable 86,509 10,227 Deferred receivable 15,098 248 Unbilled receivables and other 32,141 41,740 Allowance for doubtful accounts, net (56,375) (11,514) Total $ 119,472 $ 82,762

Deferred costs and other assets: Deferred leasing and corporate improvements, net $ 41,621 $ 53,729 In place lease intangibles, net 20,321 27,538 Acquired above market lease intangibles, net 10,210 13,419 Right of use asset 11,661 12,915 Mortgage and other escrow deposits 35,745 34,054 Seller financing receivable (1) — 55,000 Prepaids, notes receivable and other assets, net 15,624 8,379 Total $ 135,182 $ 205,034

Accounts payable, accrued expenses, intangibles and deferred revenues: Accounts payable and accrued expenses $ 182,943 $ 165,469 Below market lease intangibles, net 44,027 54,885 Lease liability 11,661 12,915 Deferred revenues and deposits 18,621 27,635 Total $ 257,252 $ 260,904

(1) Relates to loan provided to Mall Ground Portfolio, LLC for the Perennial ground lease of Edison Mall, Great Lakes Mall, Irving Mall, and Jefferson Valley Mall on October 10, 2019, which was repaid in Q2 2020.

SUPPLEMENTAL INFORMATION | 3 COMPONENTS OF RENTAL INCOME, OTHER INCOME AND CORPORATE OVERHEAD Washington Prime Group Inc. (unaudited, dollars in thousands)

Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019

Components of Rental Income: Base rent $ 97,042 $ 104,768 $ 277,064 $ 321,257 Mark-to-market adjustment 4,831 975 7,649 5,425 Straight-line rents, net 1,429 1,036 (64) 2,943 Temporary tenant rents, net 2,306 3,493 6,383 10,674 Overage rent 908 1,989 3,498 5,622 Tenant reimbursements 37,623 43,654 115,474 131,418 Lease termination income 172 100 278 1,512 Change in estimate of collectibility of rental income (24,173) (1,404) (46,861) (4,737) Total Rental Income $ 120,138 $ 154,611 $ 363,421 $ 474,114

Components of Other Income: Sponsorship and other ancillary property income $ 1,282 $ 3,068 $ 4,023 $ 7,107 Fee income 2,087 3,242 5,504 8,669 Other 175 283 2,098 1,571 Total Other Income $ 3,544 $ 6,593 $ 11,625 $ 17,347

Components of Corporate Overhead: General & administrative - other, inclusive of internal leasing costs $ 11,107 $ 12,210 $ 34,721 $ 39,459 Internal corporate overhead allocated to operating expense 5,796 5,991 17,984 17,595 Total Corporate Overhead $ 16,903 $ 18,201 $ 52,705 $ 57,054

SUPPLEMENTAL INFORMATION | 4 RECONCILIATION OF FUNDS FROM OPERATIONS Including Pro-Rata Share of Unconsolidated Properties Washington Prime Group Inc. (unaudited, dollars in thousands, except per share data)

Weighted average common shares outstanding - diluted 225,670 224,176 224,814 223,676

FFO per diluted share $ 0.07 $ 0.45 $ 0.25 $ 1.04 Total adjustments $ — $ (0.17) $ 0.05 $ (0.17) Adjusted FFO per diluted share $ 0.07 $ 0.28 $ 0.30 $ 0.86

Non-cash items included in FFO: Non-cash stock compensation expense $ 1,841 $ 2,142 $ 5,605 $ 5,922 Straight-line adjustment as an increase (decrease) to minimum rents (1) $ 1,162 $ 1,558 $ (500) $ 3,702 Straight-line and fair market value adjustment recorded as an increase to ground lease expense (1) $ 477 $ 484 $ 1,433 $ 1,453 Fair value of debt amortized as a decrease to interest expense (1) $ 454 $ 925 $ 2,165 $ 2,774 Loan fee amortization and bond discount (1) $ 2,258 $ 2,154 $ 5,782 $ 5,737 Mark-to-market/inducement adjustment as a net increase to base rents (1) $ 5,523 $ 2,171 $ 10,162 $ 8,820 Non-real estate depreciation (1) $ 2,301 $ 2,256 $ 6,906 $ 6,839

(1) Includes the pro-rata share of the joint venture properties.

SUPPLEMENTAL INFORMATION | 5 RECONCILIATION OF NET OPERATING INCOME GROWTH FOR COMPARABLE PROPERTIES Including Pro-Rata Share of Unconsolidated Properties Washington Prime Group Inc. (unaudited, dollars in thousands) Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 Variance $ 2020 2019 Variance $ Reconciliation of Comp NOI to Net Loss: Net loss $ (48,061) $ (1,665) $ (46,396) $ (133,914) $ (21,108) $ (112,806) Loss from unconsolidated entities 5,515 241 5,274 11,301 2,002 9,299 Income and other taxes 154 (120) 274 130 465 (335) Impairment on note receivable — — — 11,237 — 11,237 Gain on disposition of interests in properties, net (1,620) (9,825) 8,205 (28,812) (26,056) (2,756) Gain on extinguishment of debt, net — (38,913) 38,913 — (38,913) 38,913 Interest expense, net 39,725 38,833 892 115,805 114,806 999 Operating (Loss) Income (4,287) (11,449) 7,162 (24,253) 31,196 (55,449) Depreciation and amortization 58,063 70,948 (12,885) 173,147 209,142 (35,995) Impairment loss 1,067 28,936 (27,869) 26,186 28,936 (2,750) General and administrative 11,107 12,210 (1,103) 34,721 39,459 (4,738) Fee income (2,087) (3,242) 1,155 (5,504) (8,669) 3,165 Management fee allocation 79 39 40 115 124 (9) Pro-rata share of unconsolidated joint ventures in comp NOI 11,412 17,619 (6,207) 39,391 52,443 (13,052) Property allocated corporate expense 4,269 4,342 (73) 13,216 12,675 541 Non-comparable properties and other (1) 1,471 (15) 1,486 2,740 (888) 3,628 NOI from sold properties 30 (1,137) 1,167 (62) (4,681) 4,619 Termination income (172) (100) (72) (278) (1,512) 1,234 Straight-line rents, net (1,429) (1,036) (393) 64 (2,943) 3,007 Ground lease adjustments for straight-line and fair market value 5 5 — 15 15 — Fair market value and inducement adjustments to base rents (4,776) (915) (3,861) (7,407) (5,302) (2,105) Less: Tier 2 and noncore properties (2) (2,422) (8,907) 6,485 (17,357) (29,616) 12,259

Comparable NOI - Tier 1 and Open Air properties $ 72,330 $ 107,298 $ (34,968) $ 234,734 $ 320,379 $ (85,645) Comparable NOI percentage change - Tier 1 and Open Air properties -32.6 % -26.7 % (1) Represents an adjustment to remove the NOI amounts from properties not owned and operated in all periods presented, certain non-recurring expenses (such as hurricane related expenses), as well as material insurance proceeds and other non-recurring income received in the periods presented. This also includes adjustments related to the rents from the outparcels sold to Four Corners. (2) NOI from the Tier 2 and noncore properties held in each period presented. Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 Variance $ Variance % 2020 2019 Variance $ Variance % Comparable Property Net Operating Income (Comp NOI) Revenue: Minimum rent $ 105,612 $ 111,150 $ (5,538) -5.0 % $ 301,320 $ 336,069 $ (34,749) -10.3 % Overage rent 977 2,336 (1,359) -58.2 % 3,762 6,676 (2,914) -43.6 % Tenant reimbursements 40,436 45,548 (5,112) -11.2 % 123,909 133,590 (9,681) -7.2 % Change in estimate of collectibility of rental income (23,832) (1,600) (22,232) -1,389.5 % (48,959) (4,609) (44,350) -962.2 % Other 1,141 2,841 (1,700) -59.8 % 5,152 7,013 (1,861) -26.5 % Total revenue 124,334 160,275 (35,941) -22.4 % 385,184 478,739 (93,555) -19.5 % Expenses: Recoverable expenses - operating (30,029) (32,251) 2,222 6.9 % (83,916) (93,888) 9,972 10.6 % Recoverable expenses - real estate taxes (20,752) (19,511) (1,241) -6.4 % (62,868) (60,804) (2,064) -3.4 % Ground rent (1,223) (1,215) (8) -0.7 % (3,666) (3,668) 2 0.1 % Total operating expenses (52,004) (52,977) 973 1.8 % (150,450) (158,360) 7,910 5.0 %

Comp NOI - Excluding Tier 2 and Noncore properties $ 72,330 $ 107,298 $ (34,968) -32.6 % $ 234,734 $ 320,379 $ (85,645) -26.7 % Comp NOI - Tier 1 enclosed retail properties $ 42,976 $ 73,315 $ (30,339) -41.4 % $ 148,914 $ 224,496 $ (75,582) -33.7 % Comp NOI - Open Air properties $ 29,354 $ 33,983 $ (4,629) -13.6 % $ 85,820 $ 95,883 $ (10,063) -10.5 %

SUPPLEMENTAL INFORMATION | 6 SUMMARY OF DEBT Washington Prime Group Inc. (dollars in thousands) Total Debt, Including Total Debt, Including WPG Share of Total Debt WPG Share of Total Debt Unconsolidated Mortgage as of Unconsolidated Entities as of Entities as of Schedule of Debt Weighted Avg. Unsecured Weighted Avg. Total Debt Weighted Avg. 9/30/2020 as of 9/30/2020 12/31/2019 12/31/2019 Maturities by Year (1) Maturities Interest Rate Maturities Interest Rate Maturities Interest Rate

Consolidated debt: Total debt, including WPG share of unconsolidated entities but excluding other indebtedness: Mortgage debt Fixed $ 1,042,498 $ 1,042,498 $ 1,052,242 $ 1,052,242 2020 $ 40,868 9.3% $ — $ 40,868 9.3% Variable 65,000 65,000 65,000 65,000 2021 290,689 5.1% — 290,689 5.1% Debt issuance costs (4,696) (4,696) (5,097) (5,097) 2022 178,793 4.6% 997,000 3.5% 1,175,793 3.7% Fair value debt adjustments 1,998 1,998 3,463 3,463 2023 62,430 4.5% 340,000 4.7% 402,430 4.6% Total mortgage debt 1,104,800 1,104,800 1,115,608 1,115,608 2024 283,179 4.7% 720,900 6.5% 1,004,079 6.0% 2025 366,673 3.9% — 366,673 3.9% Corporate debt 2026 12,185 4.3% — 12,185 4.3% Credit facility 647,000 647,000 207,000 207,000 2027 192,433 4.3% — 192,433 4.3% Term loans 690,000 690,000 690,000 690,000 2028 — 0.0% — — 0.0% Bonds payable 720,900 720,900 970,900 970,900 2029 293,563 4.4% — 293,563 4.4% Debt issuance costs & discounts (22,766) (22,766) (19,547) (19,547) 2030 — 0.0% — — 0.0% Total corporate debt (4) 2,035,134 2,035,134 1,848,353 1,848,353 Thereafter 1,982 4.7% — 1,982 4.7% Fair value,debt issuance cost, and debt Total mortgage and corporate debt 3,139,934 3,139,934 2,963,961 2,963,961 discount adjustments (1,406) (22,766) (24,172) Other indebtedness, net of issuance costs & future accretion (2) 86,062 86,062 97,601 97,601 Total debt $ 1,721,389 4.6% $ 2,035,134 4.8% $ 3,756,523 4.7% Total consolidated debt $ 3,225,996 $ 3,225,996 $ 3,061,562 $ 3,061,562

Unconsolidated debt: Mortgage Mortgage loans payable $ 1,221,510 $ 615,297 $ 1,278,946 $ 618,075 Schedule of Debt Weighted Avg. Unsecured Weighted Avg. Total Debt Weighted Avg. Debt issuance costs (3,889) (1,982) (4,432) (2,206) Maturities by Year (1) Maturities Interest Rate Maturities Interest Rate Maturities Interest Rate Fair value debt adjustments 6,420 3,274 7,793 3,974 Total unconsolidated debt $ 1,224,041 $ 616,589 $ 1,282,307 $ 619,843 Total consolidated debt excluding other indebtedness:

Total debt: $ 4,450,037 $ 3,842,585 $ 4,343,869 $ 3,681,405 2020 $ 40,868 9.3% $ — $ 40,868 9.3% 2021 255,049 5.0% — 255,049 5.0% % of 2022 178,793 4.6% 997,000 3.5% 1,175,793 3.7% Total Debt Weighted Avg. Weighted 2023 56,046 4.7% 340,000 4.7% 396,046 4.7% as of Our Share of Total Debt Interest Avg. Years 9/30/20 as of 9/30/20 Rate to Maturity 2024 283,179 4.7% 720,900 6.5% 1,004,079 6.0% Consolidated debt excluding other indebtedness: 2025 — — Fixed 75% $ 2,339,585 5.5 % 3.6 2026 — — Variable 25% 800,349 2.8 % 2.2 2027 — — Total Consolidated (3) 100% $ 3,139,934 4.8 % 3.2 2028 — — 2029 293,563 4.4% 293,563 4.4% Unconsolidated debt: 2030 — — Fixed 99% $ 610,205 4.1 % 5.0 Thereafter — — Fair value,debt issuance cost, and debt Variable 1% 6,384 2.6 % 2.3 discount adjustments (2,698) (22,766) (25,464) Total Unconsolidated 100% $ 616,589 4.1 % 5.0 Total debt $ 1,104,800 4.8% $ 2,035,134 4.8% $ 3,139,934 4.8% Total debt excluding other indebtedness: Fixed 79% $ 2,949,790 5.2 % 3.9 Variable 21% 806,733 2.8 % 2.2 Total debt 100% $ 3,756,523 4.7 % 3.5 (1) Includes extension options (2) The Company had a seller financing receivable of $55 million with Mall Ground Portfolio, LLC that offset the $97.6 million net indebtedness at December 31, 2019. During the quarter ended June 30, 2020, the Company settled the seller financing receivable with a combination of cash and reduced future monthly payments. The present value of the reduced payments was reclassified to other indebtedness. The difference between the $86.1 million net carrying value and the $109.3 milliion repurchase option is being accreted through interest expense over the repurchase option period. (3) Excluded is other indebtedness of $86,062 with a weighted average interest rate of 8.5% and weighted average years to maturity of approximately 29.0 years. (4) Corporate debt includes $487,500 of secured credit facility and $517,500 of secured term loans.

SUPPLEMENTAL INFORMATION | 7 EBITDAre Washington Prime Group Inc. (dollars in thousands)

Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Calculation of EBITDAre: Net loss $ (48,061) $ (1,665) $ (133,914) $ (21,108) Interest expense, net 39,725 38,833 115,805 114,806 Income and other taxes 154 (120) 130 465 Depreciation and amortization 58,063 70,948 173,147 209,142 Gain on disposition of interests in properties, net — (3,944) (24,767) (3,944) Impairment loss 1,067 28,936 26,186 28,936 Impairment on note receivable — — 11,237 — Pro-rata share of unconsolidated entities, net 17,624 18,646 51,763 55,274 EBITDAre (1) 68,572 151,634 219,587 383,571 Gain on extinguishment of debt, net — (38,913) — (38,913) Adjusted EBITDAre $ 68,572 $ 112,721 $ 219,587 $ 344,658

(1) EBITDAre is calculated consistent with the NAREIT definition.

SUPPLEMENTAL INFORMATION | 8 OPERATING METRICS Washington Prime Group Inc. As of September 30, 2020

PORTFOLIO SUMMARY

Store Sales Per Square Foot for Store Leased Occupancy % (1) 12 Months Ended (1) Occupancy Cost % (1) % of Total Comp NOI NOI Growth for 3 Months for 3 Months Ended Releasing Spreads Trailing Property Count 9/30/20 9/30/19 9/30/20 (5) 9/30/19 9/30/20 (5) 9/30/19 Ended 9/30/20 9/30/20 Twelve Months Ended 2020

Open Air Properties 47 95.7% 97.0% 39.3% -13.6% -0.5% Tier 1 Enclosed Retail Properties 41 87.5% 90.4% not reported $ 415 not reported 11.2% 57.6% -41.4% -0.1% Tier 1 and Open Air 88 91.2% 93.5% 96.9% -32.6% -0.3%

ENCLOSED RETAIL PROPERTY TIERS

TIER 1 TIER 2 / NONCORE TIER 2 Arbor Hills Mesa Mall Anderson Mall Arboretum, The Morgantown Mall Boynton Beach Mall Ashland Town Center Northtown Mall Chautauqua Mall Bowie Town Center Northwoods Mall Indian Mound Mall Brunswick Square Oklahoma City Properties Lima Mall Clay Terrace Orange Park Mall Maplewood Mall Cottonwood Mall Paddock Mall New Towne Mall Dayton Mall Pearlridge Center Oak Court Mall Edison Mall Polaris Fashion Place Rolling Oaks Mall Grand Central Mall Port Charlotte Town Center Sunland Park Mall Great Lakes Mall Scottsdale Quarter Westminster Mall (2) Irving Mall Southern Hills Mall Jefferson Valley Mall Southern Park Mall NONCORE Lincolnwood Town Center Southgate Mall Charlottesville Fashion Square (3) Lindale Mall The Outlet Collection | Seattle Muncie Mall (4) Longview Mall Town Center at Aurora Malibu Lumber Yard Town Center Crossing & Plaza Mall at Fairfield Commons, The Waterford Lakes Town Center Mall at Johnson City, The Weberstown Mall Markland Mall WestShore Plaza Melbourne Square

(1) Metrics include properties owned and managed as of September 30, 2020, and exclude Tier 2 and Noncore properties. (2) Due to major planned redevelopment, Westminster Mall was reclassed from Tier 1 until stabilized. (3) On March 17, 2020, the Company received notification that a receiver was appointed to manage and lease Charlottesville Fashion Square. An affiliate of the Company still holds title to the property. (4) On April 14, 2020, the Company received notification that a receiver was appointed to manage and lease Muncie Mall. An affiliate of the Company still holds title to the property. (5) For Q3 2020, the annual sales and occupancy cost % are not being reported as most of the stores were closed for more than half of the quarter, resulting in incomplete data for the quarter. For the third quarter, comparable quarterly sales year-over-year were -8% for those stores open the entire quarter of 2020 for our Tier 1 properties.

SUPPLEMENTAL INFORMATION | 9 LEASING RESULTS AND BASE RENT PSF Washington Prime Group Inc. Year-to-date through September 30, 2020

Leasing Results- Comparable Properties No Exclusions 2020 Year-to-Date Change from Prior YTD New Renewal Total Total # of Deals Sqft # of Deals Sqft # of Deals Sqft # of Deals Sqft Tier 1 Enclosed Retail Properties 75 576,948 369 1,393,293 444 1,970,241 -17% 2% Open Air Properties 36 262,674 77 742,325 113 1,004,999 -9% 17% Total Tier 1 and Open Air 111 839,622 446 2,135,618 557 2,975,240 -16% 7% Tier 2 and Noncore Properties 5 16,015 92 373,364 97 389,379 -7% 10% Grand Total 116 855,637 538 2,508,982 654 3,364,619 -15% 7%

Leasing Results Small Shop Deals for Enclosed Properties; Anchor and Small Shop Deals for Open Air

Number Square Feet Base Rent PSF Average Term Tenant Allow.$(000)s Tenant Allow. PSF of Leases New Renewal Total New Renewal Total New Renewal Total New Renewal New Renewal Tier 1 Enclosed Retail Properties 216 187,095 286,607 473,702 $ 28.16 $ 34.05 $ 31.72 7.5 3.1 4.3 $ 7,699 $ 2,159 $ 41.15 $ 7.53 Open Air Properties 98 259,880 667,078 926,958 $ 15.12 $ 14.53 $ 14.69 8.3 5.2 6.3 $ 6,948 $ 1,684 $ 26.74 $ 2.53 Total Tier 1 and Open Air 314 446,975 953,685 1,400,660 $ 20.58 $ 20.39 $ 20.45 7.8 3.7 4.9 $ 14,647 $ 3,843 $ 32.77 $ 4.03

Tier 2 and Noncore Properties 36 5,461 63,496 68,957 $ 22.89 $ 23.51 $ 23.47 4.0 3.1 3.2 $ — $ 57 $ — $ 0.91

Total 350 452,436 1,017,181 1,469,617 $ 20.60 $ 20.59 $ 20.59 7.6 3.6 4.7 $ 14,647 $ 3,900 $ 32.37 $ 3.83

Note: The table above includes leasing results for enclosed properties for stores of 10,000 SF or less, also anchors and office leases are excluded. For open air properties, office leases are excluded. Only new leases and renewals with terms in excess of 12 months are included. These results include properties owned and managed at September 30, 2020.

Average Base Rent PSF Base Minimum Rent PSF As of September 30, 2020 2019 Tier 1 Enclosed Retail Properties $ 28.14 $ 28.55 Open Air Properties $ 14.16 $ 13.73 Total Tier 1 and Open Air Properties $ 21.02 $ 21.28

SUPPLEMENTAL INFORMATION | 10 RELEASING SPREADS Washington Prime Group Inc. For the trailing 12 months ended September 30, 2020

Re-leasing Spread Square Footage of New Signings Rate PSF Prior Rate PSF $ %

Open Air Properties:

New 196,715 $ 17.55 $ 19.20 $ (1.65) -8.6 % Renewal (1) 707,971 $ 17.80 $ 17.47 $ 0.33 1.9 % All Deals 904,686 $ 17.75 $ 17.85 $ (0.10) -0.6 %

Tier 1 Enclosed Retail Properties:

New 148,836 $ 33.98 $ 33.43 $ 0.55 1.6 % Renewal (1) 499,496 $ 42.95 $ 45.70 $ (2.75) -6.0 % All Deals 648,332 $ 40.89 $ 42.88 $ (1.99) -4.6 %

Total Open Air and Tier 1 Properties:

New 345,551 $ 24.63 $ 25.33 $ (0.70) -2.8 % Renewal (1) 1,207,467 $ 28.21 $ 29.14 $ (0.93) -3.2 % All Deals 1,553,018 $ 27.41 $ 28.30 $ (0.89) -3.1 %

Note: The Company's Tier 2 and noncore properties are excluded from these metrics. (1) The renewal spreads include rent restructure deals to address COVID-19. If these were excluded, renewal spreads would be +0.6% compared to a -3.2% and total spreads would be -0.3% compared to -3.1% above.

SUPPLEMENTAL INFORMATION | 11 TOP 10 TENANTS Washington Prime Group Inc. As of September 30, 2020 Non-Anchor Stores (Ranked by Percent of Total Minimum Rents) Number GLA of Percent of Total Percent of Total Annualized National Tenant Name Tenant DBA's in Portfolio of Stores Stores GLA in Portfolio Base Minimum Rent L Brands, Inc. Bath & Body Works, Pink, Victoria's Secret, White Barn Candle 101 522,581 1.0% 2.6% Body by Pagoda, Gordon's Jewelers, Jared's, Kay Jewelers, Mark's & Morgan, Piercing Pagoda, Plumb Signet Jewelers, Ltd. Gold, Silver and Gold Connection, Zales Jewelers 99 136,632 0.3% 2.5% Footlocker, Inc. Champs Sports, Foot Action USA, Footlocker, Kids Footlocker, Lady Footlocker 75 326,212 0.6% 2.0% Athleta, Banana Republic, Banana Republic Outlet, Gap, Gap Kids, Gap Outlet, Intermix, Janie and Jack, The Gap, Inc. (1) Old Navy 32 330,819 0.6% 1.2% The Finish Line, Inc. Finish Line, JD Sports 32 184,497 0.3% 1.2% Ulta Salon, Cosmetics & Fragrance, Inc. Ulta Beauty 24 254,205 0.5% 1.2% Regal Entertaimment Group Regal Cinema 5 224,179 0.4% 1.1% Sycamore Properties Belk, Box Lunch, Hot Toic, Talbots, Torrid 81 217,420 0.4% 1.0% Claire's Inc. Claire's, Claire's Boutique, Icing 67 85,305 0.2% 1.0% Genesco Inc. Journeys, Journeys Kidz, Underground by Journeys 55 104,382 0.2% 0.9% Anchor Stores (Ranked by Total GLA) Number of Number GLA of Percent of Total Percent of Total Annualized WPG Owned National Tenant Name Tenant DBA's in Portfolio of Stores Stores GLA in Portfolio Base Minimum Rent Stores

Macy's, Inc. Macy's 24 4,299,870 8.1% 0.2% 4 JCPenney Company, Inc. JCPenney 32 4,197,336 7.9% 1.2% 18 Dillard's, Inc. Dillard's 21 2,747,904 5.2% 0.0% 2 Target Corporation Target, Super Target 10 1,419,100 2.7% 0.0% 1 Kohl's Corporation Kohl's 13 1,186,302 2.2% 1.0% 10 Dick's Sporting Goods, Inc. Dick's Sporting Goods, Field & Stream, Golf Galaxy 16 970,096 1.8% 2.0% 14 Best Buy Co. Inc. Best Buy 16 708,102 1.3% 1.7% 15 Wal-Mart Stores, Inc. Wal-Mart 4 618,061 1.2% 0.0% 0 TJX Companies Home Goods, Marshalls, TJ Maxx 18 563,956 1.1% 1.2% 18 Sycamore Partners Belk Home Store, Belk, Belk for Her, Staples 8 522,313 1.0% 0.3% 6 Note: Schedule above includes properties owned and managed at September 30, 2020. (1) Of the 32 Gap, Inc. stores, 5 are Gap stores with the remainder in the other concepts listed.

SUPPLEMENTAL INFORMATION | 12 LEASE EXPIRATIONS (1) Washington Prime Group Inc. As of September 30, 2020

Enclosed Retail Properties Anchor Annualized Number of Leases Anchor Square Feet of Store Square Feet of Total Square Feet of GLA Base Rents PSF Store Annualized Base % of Annualized Base Rents Expiring GLA Expiring GLA Expiring Expiring Expiring Rents PSF Expiring Represented by Expiring Leases Year Month To Month Leases 142 168,896 417,278 586,174 $ 7.98 $ 30.95 2.6 % 2020 114 — 271,083 271,083 $ — $ 27.94 1.2 % 2021 617 572,668 2,085,336 2,658,004 $ 6.07 $ 26.44 9.6 % 2022 596 993,452 1,788,552 2,782,004 $ 6.27 $ 28.07 10.6 % 2023 478 1,175,696 1,536,578 2,712,274 $ 8.56 $ 31.36 10.1 % 2024 351 698,314 1,095,537 1,793,851 $ 6.67 $ 29.79 6.9 % 2025 271 1,396,081 1,160,677 2,556,758 $ 8.25 $ 27.28 8.5 % 2026 202 877,786 1,112,531 1,990,317 $ 4.84 $ 27.88 6.5 % 2027 166 455,959 767,406 1,223,365 $ 7.41 $ 30.00 4.6 % 2028 128 251,005 566,491 817,496 $ 14.03 $ 27.69 3.5 % 2029 94 486,385 418,117 904,502 $ 7.08 $ 32.31 3.0 % 2030 and Thereafter 117 1,079,768 581,922 1,661,690 $ 9.07 $ 24.92 4.4 % Specialty Leasing Agreements w/ terms in excess of 11 months 711 — 1,696,364 1,696,364 $ — $ 8.68 2.8 %

Open Air Properties Anchor Annualized Number of Leases Anchor Square Feet of Store Square Feet of Total Square Feet of GLA Base Rents PSF Store Annualized Base % of Annualized Base Rents Expiring GLA Expiring GLA Expiring Expiring Expiring Rents PSF Expiring Represented by Expiring Leases Year Month To Month Leases 26 43,971 63,438 107,409 $ 12.10 $ 18.73 0.4 % 2020 34 89,975 102,539 192,514 $ 6.55 $ 22.84 0.6 % 2021 136 593,759 362,780 956,539 $ 10.73 $ 20.68 2.8 % 2022 154 808,314 488,347 1,296,661 $ 9.26 $ 18.80 3.4 % 2023 146 1,051,124 458,372 1,509,496 $ 10.67 $ 19.37 4.1 % 2024 114 749,684 330,958 1,080,642 $ 9.29 $ 21.89 2.9 % 2025 103 675,306 239,126 914,432 $ 12.34 $ 25.63 3.0 % 2026 80 578,702 270,586 849,288 $ 10.78 $ 21.51 2.4 % 2027 64 465,043 194,883 659,926 $ 11.26 $ 22.45 2.0 % 2028 32 269,501 98,765 368,266 $ 14.54 $ 19.57 1.2 % 2029 44 119,030 206,966 325,996 $ 15.31 $ 22.27 1.3 % 2030 and Thereafter 43 326,409 211,743 538,152 $ 11.91 $ 19.02 1.6 % Specialty Leasing Agreements w/ terms in excess of 11 months 12 — 32,361 32,361 $ — $ 8.24 0.0 %

(1) Does not consider the impact of renewal options that may be contained in leases, and this only considers landlord owned GLA. Schedule includes leases for properties owned and managed at September 30, 2020.

SUPPLEMENTAL INFORMATION | 13 CAPITAL EXPENDITURES Washington Prime Group Inc. (dollars in thousands)

Consolidated Total Consolidated Total Three Months Unconsolidated Joint Three Months Three Months Unconsolidated Joint Three Months Ended Venture Proportionate Ended Ended Venture Proportionate Ended September 30, 2020 Share September 30, 2020 September 30, 2019 Share September 30, 2019

New Developments $ — $ — $ — $ — $ — $ — Redevelopments, Renovations, and Expansions $ 22,725 $ 4,214 $ 26,939 $ 18,875 $ 3,048 $ 21,923 Internal Leasing Costs $ 225 $ 230 $ 455 $ 571 $ 581 $ 1,152

Property Capital Expenditures: Non-anchor stores tenant improvements and allowances $ 4,865 $ 1,906 $ 6,771 $ 4,941 $ 1,122 $ 6,063 Operational capital expenditures 4,603 225 4,828 9,063 485 9,548 Total Property Capital Expenditures $ 9,468 $ 2,131 $ 11,599 $ 14,004 $ 1,607 $ 15,611

Consolidated Total Consolidated Total Nine Months Unconsolidated Joint Nine Months Nine Months Unconsolidated Joint Nine Months Ended Venture Proportionate Ended Ended Venture Proportionate Ended September 30, 2020 Share September 30, 2020 September 30, 2019 Share September 30, 2019

New Developments $ — $ — $ — $ — $ — $ — Redevelopments, Renovations, and Expansions $ 92,970 $ 11,326 $ 104,296 $ 55,433 $ 9,981 $ 65,414 Internal Leasing Costs $ 618 $ 611 $ 1,229 $ 1,224 $ 949 $ 2,173

Property Capital Expenditures: Non-anchor stores tenant improvements and allowances $ 15,393 $ 4,657 $ 20,050 $ 19,759 $ 3,824 $ 23,583 Operational capital expenditures 15,621 931 16,552 20,785 1,786 22,571 Total Property Capital Expenditures $ 31,014 $ 5,588 $ 36,602 $ 40,544 $ 5,610 $ 46,154

SUPPLEMENTAL INFORMATION | 14 REDEVELOPMENT PROJECTS Washington Prime Group Inc. As of September 30, 2020 (dollars in thousands)

Projects under construction or approved for construction with an estimated investment of $5 million or more Estimated WPG Costs Ownership Estimated Project Yield Incurred Estimated Property Name City St Opportunity % Total Costs (1)(3) (1) (2) to Date (3) Completion (1)

Final phase of development to add 130,000 SF to add a theater, value fashion apparel Fairfield Town Center Houston TX as well as big box and small shop stores. 100% $26,000 - $30,000 7% - 8% $ 19,754 2020/2021 Replaced Elder-Beerman with H&M, replaced Toys R Us with Big Lots, replaced hhgregg with Ulta and Five Below, planned replacement of former Sears with Home Grand Central Mall Parkersburg WV Goods, PetSmart, Ross Dress for Less, and TJ Maxx 100% $31,000 - $33,000 6% - 8% $ 27,156 2019/ 2021 Dillard's will build new store to replace former Sears. Costs reflect demolition of building and parking lot and delivery of new pad and utilities as well as landscaped and Mesa Mall Grand Junction CO upgraded parking field to Dillard's. 100% $7,000 - $8,000 n/a (5) $ 7,345 2021 Replace former Sears with retail development anchored by Home Goods. Replace Mall at Johnson City Johnson City TN former Sears auto center with multi-tenant building for new restaurants. 51% $7,000 - $8,000 (4) 5% - 6% $ 1,280 (4) 2021 Morgantown Mall Morgantown WV Replace former Belk store with Ollie's Bargain Outlet and a new entertainment tenant 100% $8,000 - $9,000 7% - 9% $ 3,752 2020/ 2021 Replaced former Sam's Club with FieldhouseUSA, a community based multi-purpose Outlet Collection | Seattle Seattle WA indoor sports facility specializing in leagues, events and tournaments. 100% $11,000 - $13,000 9% - 10% $ 8,274 2020 Replace former Sears with FieldhouseUSA and mixed use component including Polaris Fashion Place Columbus OH hospitality 51% $12,000 - $14,000 (4) 4% - 5% $ 6,113 (4) 2020/ 2021 Phase I of redevelopment: Replace former Sears with new entertainment, dining, retail, Southern Park Mall Youngstown OH and community green space 100% $16,000 - $18,000 (6) 7% - 8% $ 8,529 2021 Replace former Sears with FieldhouseUSA and mixed use component including Town Center at Aurora Aurora CO hospitality 100% $21,000 - $23,000 5% - 6% $ 5,913 2021

(1) Estimated total costs, project yield, and completion are subject to adjustment as a result of changes (some of which are not under the direct control of the company) that are inherent in the development process. (2) The project yield excludes any NOI benefit to the property that is indirectly related to the redevelopment other than near-term renewals, although each project does benefit other aspects of the property. The incremental yield does not consider prior rent paid by bankrupt tenants and does include the impact of co-tenancy cures as applicable. (3) Project costs exclude the allocation of internal costs such as labor, interest, and taxes. (4) Amounts shown represent 51% of the project spend. (5) Dillard's will construct and own the building and provide a 10-year operating covenant. (6) Does not include unallocated portions of the planned interior renovation. Estimated Costs are shown net of the approved public incentives package.

SUPPLEMENTAL INFORMATION | 15 DEPARTMENT STORE REPOSITIONING STATUS Washington Prime Group Inc. Plans as of September 30, 2020 Count Property City Former Department Store Owner Closing Date Planned Replacement Status Department Stores formerly occupied by Sears / BonTon / Belk - September 30, 2020 Department Stores Addressed Home Goods, PetSmart, Ross Dress for Less, and 1 Grand Central Mall Parkersburg, WV Sears Lease Dec-18 TJ Maxx Leases executed, Under construction 2 Lincolnwood Town Center Lincolnwood, IL Carsons Pirie Scott Lease Aug-18 RoomPlace RoomPlace opened August 2019 3 Longview Mall Longview, TX Sears Lease Jan-19 Conn's HomePlus/ Other Lease signed/ LOI 4 Mall at Fairfield Commons Dayton, OH Sears Lease Dec-18 Morris Home Furniture / Round1 Morris Home opened Q220/ Round1 opened Q419 5 Mall at Johnson City Johnson City, TN Sears Lease 2020 Home Goods/ Other/ Dining Home Goods lease executed 6 Markland Mall Kokomo, IN Carsons Pirie Scott Lease Aug-18 Dunham's Sports Store opened September 2020 7 Mesa Mall Grand Junction, CO Sears Lease Nov-18 Dillard's LOI executed 8 Mesa Mall Grand Junction, CO Herberger's Lease Aug-18 National sporting goods retailer LOI received 9 Morgantown Mall Morgantown, WV Belk Lease Mar-18 Ollie's Bargain Outlet/ Entertainment Opened Oct. 2020/ LOI executed 10 Morgantown Mall Morgantown, WV Elder-Beerman Lease Aug-18 Dunham's Sports Dunham's opened April 2020 11 Morgantown Mall Morgantown, WV Sears Lease Jan-19 WVU Medical fulfillment center WVU Medical fulfillment center opened July 2020 12 Polaris Fashion Place Columbus, OH Sears Lease Mar-19 FieldhouseUSA / Mixed Use Proactive termination, Lease executed 13 Port Charlotte Town Center Port Charlotte, FL Sears Lease Mar-19 Entertainment Lease out for signature 14 Southern Hills Mall Sioux City, IA Sears Lease Mar-19 Retail concepts Proactive termination, LOI received 15 Southern Park Mall Youngstown, OH Sears Lease Jul-18 Entertainment / Outdoor greenspace Proactive termination, Under construction 16 Southgate Mall Missoula, MT Herberger's Lease Aug-18 Dillard's Dillard's opened June 2019 17 Town Center at Aurora Aurora, CO Sears Lease Dec-19 FieldhouseUSA / Mixed use Proactive termination, Lease executed 18 WestShore Plaza Tampa, FL Sears Lease Mar-19 Mixed use Proactive termination, Obtaining Entitlements Active Planning / Evaluating Options 19 Cottonwood Mall Albuquerque, NM Sears Sears Aug-18 Sears owns box Evaluating Options Formerly owned by 20 Dayton Mall Dayton, OH Elder-Beerman Third Party Aug-18 Purchased from third party in Q419 Active Planning 21 Lindale Mall Cedar Rapids, IA Younkers Lease Aug-18 Retail concepts Active Planning 22 Mall at Fairfield Commons Dayton, OH Elder-Beerman Lease Aug-18 Retail concepts Active Planning 23 Northtown Mall Blaine, MN Herberger's Lease Aug-18 Retail concepts Active Planning 24 Northwoods Mall Peoria, IL Sears Sears Feb-20 Sears owns box Active Planning 25 Orange Park Mall Orange Park, FL Sears Sears Apr-20 Sears owns box Evaluating Options 26 Southern Hills Mall Sioux City, IA Younkers Lease Aug-18 Retail concepts Active Planning 27 Southgate Mall Missoula, MT Herberger's Men Lease Aug-18 Dining Active Planning 28 Whitehall Mall Whitehall, PA Sears Lease Feb-20 Big box and small shop retail Active Planning Stores Occupied by Sears as of September 30, 2020 29 Pearlridge Center Aiea, HI Sears Lease Entertainment / Dining Evaluating Options 30 Weberstown Mall Stocktown, CA Sears Ground lease Mixed use Active Planning Note that the Company plans to spend up to $300M over the next three to four years to redevelop these 30 department store locations. This report is for the Company's Tier 1 and Open Air properties and excludes those owned by third parties such as Seritage properties.

SUPPLEMENTAL INFORMATION | 16 PROPERTY INFORMATION Washington Prime Group Inc. As of September 30, 2020

Debt Information Indebtedness Total Financial Center Total Total WPG Property Name St City (Major Metropolitan Area) Interest (1) Square Feet WPG Owned Square Feet Tenant Owned Square Feet Maturity Date (2) Interest Rate Type Total Share Enclosed Retail Properties Anderson Mall SC Anderson 100% 670,742 315,553 355,189 12/01/22 4.61% Fixed $17,156 $17,156 Arbor Hills MI Ann Arbor 51% 86,939 86,939 0 01/01/26 4.27% Fixed $23,892 $12,185 Arboretum, The TX Austin 51% 193,835 193,835 0 06/01/27 4.13% Fixed $59,400 $30,294 Ashland Town Center KY Ashland 100% 434,359 330,969 103,390 07/06/21 4.90% Fixed $35,279 $35,279 Bowie Town Center MD Bowie (Wash, D.C.) 100% 583,035 281,737 301,298 Boynton Beach Mall FL Boynton Beach (Miami) 100% 869,756 428,402 441,354 Brunswick Square NJ East Brunswick (New York) 100% 764,224 292,928 471,296 03/01/24 4.80% Fixed $68,640 $68,640 Charlottesville Fashion Square (4)(6) VA Charlottesville 100% 0 0 0 04/01/24 4.54% Fixed $45,068 $45,068 Chautauqua Mall NY Lakewood 100% 435,415 427,885 7,530 Chesapeake Square Theater VA Chesapeake (VA Beach) 100% 42,248 42,248 0 Clay Terrace IN Carmel (Indianapolis) 100% 577,605 558,729 18,876 Cottonwood Mall NM Albuquerque 100% 1,048,428 568,199 480,229 04/06/24 4.82% Fixed $93,797 $93,797 Dayton Mall OH Dayton 100% 1,442,034 770,253 671,781 09/01/22 4.57% Fixed $78,067 $78,067 Edison Mall (5) FL Fort Myers 100% 1,050,133 567,840 482,293 Grand Central Mall WV Parkersburg 100% 646,701 640,193 6,508 07/06/21 6.05% Fixed $38,378 $38,378 Great Lakes Mall (5) OH Mentor (Cleveland) 100% 1,249,724 658,037 591,687 Indian Mound Mall OH Newark 100% 555,599 382,938 172,661 Irving Mall (5) TX Irving (Dallas) 100% 1,051,832 488,287 563,545 Jefferson Valley Mall (5) NY Yorktown Heights (New York) 100% 583,037 417,345 165,692 Lima Mall OH Lima 100% 745,042 545,220 199,822 Lincolnwood Town Center (8) IL Lincolnwood (Chicago) 100% 422,997 422,996 1 04/01/21 8.26% Fixed $47,252 $47,252 Lindale Mall IA Cedar Rapids 100% 713,473 476,781 236,692 Longview Mall TX Longview 100% 646,518 347,721 298,797 Malibu Lumber Yard CA Malibu 51% 31,514 31,514 0 Mall at Fairfield Commons, The OH Beavercreek 100% 1,030,828 850,047 180,781 Mall at Johnson City, The TN Johnson City 51% 567,446 567,446 0 05/06/25 6.76% Fixed $47,689 $24,321 Maplewood Mall MN St. Paul (Minneapolis) 100% 903,985 323,229 580,756 Markland Mall IN Kokomo 100% 394,048 371,803 22,245 Melbourne Square FL Melbourne 100% 716,993 420,383 296,610 Mesa Mall CO Grand Junction 100% 803,994 431,973 372,021 Morgantown Mall WV Morgantown 100% 555,236 555,236 0 Muncie Mall (4)(7) IN Muncie 100% 0 0 0 04/01/21 4.19% Fixed $33,071 $33,071 New Towne Mall OH New Philadelphia 100% 497,435 497,435 0 Northtown Mall MN Blaine 100% 644,294 644,294 0 Northwoods Mall IL Peoria 100% 669,596 360,604 308,992 Oak Court Mall TN Memphis 100% 845,060 359,243 485,817 04/01/21 4.76% Fixed $36,069 $36,069 Oklahoma City Properties OK Oklahoma City 51% 327,553 325,307 2,246 06/01/27 3.90% Fixed $52,779 $26,917 01/01/23 2.65% Variable $12,517 $6,384 Orange Park Mall FL Orange Park (Jacksonville) 100% 952,720 555,540 397,180 Outlet Collection | Seattle, The WA Seattle 100% 924,304 924,304 0 Paddock Mall FL Ocala 100% 555,310 324,753 230,557 Pearlridge Center HI Aiea 51% 1,307,828 1,254,551 53,277 06/01/25 3.53% Fixed $225,000 $114,750 05/01/25 4.07% Fixed $42,171 $21,507 Polaris Fashion Place OH Columbus 51% 1,374,824 737,309 637,515 03/01/25 3.90% Fixed $223,669 $114,071 03/01/25 4.46% Fixed $15,438 $7,873 Port Charlotte Town Center (3)(8) FL Port Charlotte 100% 777,382 493,173 284,209 11/01/20 9.30% Fixed $40,868 $40,868 Rolling Oaks Mall TX San Antonio 100% 882,095 285,787 596,308

SUPPLEMENTAL INFORMATION | 17 PROPERTY INFORMATION Washington Prime Group Inc. As of September 30, 2020

Debt Information Indebtedness Total Total Financial Center Total Tenant Owned Square WPG Property Name St City (Major Metropolitan Area) Interest (1) Square Feet WPG Owned Square Feet Feet Maturity Date (2) Interest Rate Type Total Share Enclosed Retail Properties Scottsdale Quarter AZ Scottsdale 51% 759,918 759,918 0 06/01/25 3.53% Fixed $165,000 $84,150 04/01/27 4.36% Fixed $55,000 $28,050 Southern Hills Mall IA Sioux City 100% 774,024 669,435 104,589 Southern Park Mall OH Youngstown 100% 1,018,309 830,745 187,564 Southgate Mall MT Missoula 100% 582,887 440,354 142,533 09/27/23 4.48% Fixed $35,000 $35,000 Sunland Park Mall TX El Paso 100% 918,475 332,638 585,837 Town Center at Aurora CO Aurora (Denver) 100% 1,081,541 495,043 586,498 04/01/22 4.92% Fixed $51,000 $51,000 Town Center Crossing & Plaza KS Leawood 51% 670,662 534,101 136,561 02/01/27 4.25% Fixed $32,296 $16,471 02/01/27 5.00% Fixed $65,345 $33,326 Waterford Lakes Town Center FL Orlando 100% 967,287 692,787 274,500 05/06/29 4.86% Fixed $176,563 $176,563 Weberstown Mall CA Stockton 100% 846,915 263,245 583,670 06/08/21 2.80% Variable $65,000 $65,000 Westminster Mall CA Westminster (Los Angeles) 100% 1,216,845 444,153 772,692 04/01/24 4.65% Fixed $75,674 $75,674 WestShore Plaza FL Tampa 100% 1,093,693 865,231 228,462 Enclosed Retail Properties Total 39,506,677 25,886,616 13,620,061 $1,957,078 $1,457,181

Open Air Properties Bloomingdale Court IL Bloomingdale (Chicago) 100% 675,988 385,543 290,445 Bowie Town Center Strip MD Bowie (Wash, D.C.) 100% 106,636 40,974 65,662 Canyon View Marketplace CO Grand Junction 100% 199,815 43,053 156,762 11/06/23 5.47% Fixed $5,046 $5,046 Chesapeake Center VA Chesapeake (Virginia Beach) 100% 279,581 128,972 150,609 Concord Mills Marketplace NC Concord (Charlotte) 100% 240,769 234,387 6,382 11/01/23 4.82% Fixed $16,000 $16,000 Countryside Plaza IL Countryside (Chicago) 100% 403,455 203,994 199,461 Dare Centre NC Kill Devil Hills 100% 168,998 109,479 59,519 Empire East SD Sioux Falls 100% 301,438 167,616 133,822 Fairfax Court VA Fairfax (Wash, D.C.) 100% 239,483 239,483 0 Fairfield Town Center TX Houston 100% 364,533 185,533 179,000 Forest Plaza IL Rockford 100% 433,816 413,519 20,297 10/01/29 3.67% Fixed $30,250 $30,250 Gaitway Plaza (3) FL Ocala 96% 197,435 196,635 800 Gateway Centers TX Austin 51% 513,612 411,309 102,303 06/01/27 4.03% Fixed $112,500 $57,375 Greenwood Plus IN Greenwood (Indianapolis) 100% 152,123 146,091 6,032 Henderson Square PA King of Prussia (Philadelphia) 100% 107,368 53,612 53,756 Keystone Shoppes IN Indianapolis 100% 36,457 36,457 0 Lake Plaza IL Waukegan (Chicago) 100% 215,590 124,961 90,629 Lake View Plaza IL Orland Park (Chicago) 100% 364,548 309,139 55,409 Lakeline Plaza TX Cedar Park (Austin) 100% 386,055 355,618 30,437 10/01/29 3.67% Fixed $49,710 $49,710 Lima Center OH Lima 100% 233,878 173,878 60,000 Lincoln Crossing IL O'Fallon (St. Louis) 100% 303,526 98,061 205,465 MacGregor Village NC Cary 100% 140,133 140,133 0 Mall of Georgia Crossing GA Buford (Atlanta) 100% 440,774 317,639 123,135 10/06/22 4.28% Fixed $21,272 $21,272 Markland Plaza IN Kokomo 100% 84,727 80,977 3,750 Martinsville Plaza VA Martinsville 100% 102,105 94,760 7,345 Muncie Towne Plaza IN Muncie 100% 171,621 171,621 0 10/01/29 3.67% Fixed $10,550 $10,550 North Ridge Shopping Center NC Raleigh 100% 171,492 166,092 5,400 12/01/22 3.41% Fixed $11,298 $11,298 Northwood Plaza IN Fort Wayne 100% 204,956 76,727 128,229 Palms Crossing TX McAllen 51% 389,618 389,618 0 08/01/21 5.49% Fixed $32,805 $16,731 Plaza at Buckland Hills, The CT Manchester 100% 312,502 257,488 55,014

SUPPLEMENTAL INFORMATION | 18 PROPERTY INFORMATION Washington Prime Group Inc. As of September 30, 2020

Debt Information Indebtedness Total Total Financial Center Total Tenant Owned Square WPG Property Name St City (Major Metropolitan Area) Interest (1) Square Feet WPG Owned Square Feet Feet Maturity Date (2) Interest Rate Type Total Share Open Air Properties Richardson Square TX Richardson (Dallas) 100% 516,100 40,187 475,913 Rockaway Commons NJ Rockaway (New York) 100% 229,929 226,179 3,750 Rockaway Town Plaza NJ Rockaway (New York) 100% 306,440 73,158 233,282 Royal Eagle Plaza FL Coral Springs (Miami) 100% 178,769 175,385 3,384 Shops at Arbor Walk, The TX Austin 51% 309,009 280,260 28,749 08/01/21 5.49% Fixed $37,077 $18,909 Shops at North East Mall, The TX Hurst (Dallas) 100% 365,169 365,169 0 St. Charles Towne Plaza MD Waldorf (Wash, D.C.) 100% 388,517 329,675 58,842 Tippecanoe Plaza IN Lafayette 100% 90,522 85,811 4,711 University Center IN Mishawaka 100% 150,441 100,441 50,000 University Town Plaza FL Pensacola 100% 382,330 216,194 166,136 Village Park Plaza IN Carmel (Indianapolis) 100% 501,898 290,009 211,889 Washington Plaza IN Indianapolis 100% 50,107 50,107 0 West Ridge Outlots KS Topeka 100% 3,564 0 3,564 West Town Corners (3) FL Altamonte Springs (Orlando) 100% 379,172 234,554 144,618 Westland Park Plaza (3) FL Orange Park (Jacksonville) 100% 163,259 163,259 0 White Oaks Plaza IL Springfield 100% 385,414 263,231 122,183 10/01/29 3.67% Fixed $26,490 $26,490 Whitehall Mall PA Whitehall 100% 603,475 588,601 14,874 Wolf Ranch TX Georgetown (Austin) 100% 632,025 419,839 212,186 Open Air Properties Total 13,579,172 9,655,428 3,923,744 $352,998 $263,631

Total 53,085,849 35,542,044 17,543,805 $2,310,076 $1,720,812 (9)

Footnotes: (1) Direct and indirect interests in some joint venture properties are subject to preferences on distributions and/or capital allocation in favor of other partners. (2) Assumes full exercise of available extension options. (3) WPG receives approximately 96%-100% of the economic benefit of property due to performance or advance, although legal ownership is less than 100%. Legal ownership is as follows: Port Charlotte Town Center (80%); Gaitway Plaza (88.2%); West Town Corners (88.2%); and Westland Park Plaza (88.2%). (4) Noncore property. (5) Land is subject to a ground lease with Perennial. The net carrying value of the financial liability at 9/30/20 is $86.1 million and interest is being recognized at an effective rate of 8.5%. The ground lease is subject to a repurchase option in 2049 of $109.3 million. The difference between the net carrying value of the financial liability and the repurchase option price is being accreted through interest expense over the applicable term. (6) On March 17, 2020, the Company received notification that a receiver was appointed to manage and lease Charlottesville Fashion Square. An affiliate of the Company still holds title to the property. (7) On April 14, 2020, the Company received notification that a receiver was appointed to manage and lease Muncie Mall. An affiliate of the Company still holds title to the property. (8) The interest rate on the loan is subject to a 4.00% penalty for being in default. (9) Our share of the joint venture debt excludes the $1.9 million indirect 12.5% ownership interest in another real estate project.

SUPPLEMENTAL INFORMATION | 19 NON-GAAP PRO-RATA FINANCIAL INFORMATION

The pro-rata financial information presented on pages 21 and 22 is not, and is not intended to be, a presentation in accordance with GAAP. The non-GAAP pro-rata financial information aggregates the Company’s proportionate economic ownership of each unconsolidated asset in the property portfolio that the Company does not wholly own. The amounts in the column labeled ‘‘WPG’s Share of Unconsolidated Entities’’ were derived on a per property or entity basis by applying to each line item the ownership percentage interest used to arrive at the Company’s share of the operations for the period consistent with the application of the equity method of accounting to each of the unconsolidated joint ventures.

The Company does not control the unconsolidated joint ventures and the presentations of the assets and liabilities and revenues and expenses do not represent the Company’s legal claim to such items.

The Company provides pro-rata financial information because it is believed to assist investors and analysts in estimating the economic interest in our unconsolidated joint ventures when read in conjunction with the Company’s reported results under GAAP.

SUPPLEMENTAL INFORMATION | 20 NON-GAAP PRO-RATA FINANCIAL INFORMATION PROPORTIONATE SHARE OF UNCONSOLIDATED PROPERTIES - STATEMENTS OF OPERATIONS Washington Prime Group Inc. (Unaudited, dollars in thousands)

Three Months Ended Nine Months Ended September 30, 2020 September 30, 2020 WPG's Share of Unconsolidated Entities WPG's Share of Unconsolidated Entities Revenue: Minimum rent $ 19,015 $ 55,550 Overage rent 227 775 Tenant reimbursements 6,751 22,371 Changes in estimate of collectibility of rental income (3,996) (7,887) Other income 1,277 1,763 Total revenues 23,274 72,572

Expenses: Property operating (5,531) (15,668) Real estate taxes (3,715) (10,820) Advertising and promotion (320) (865) Total recoverable expenses (9,566) (27,353) Depreciation and amortization (11,433) (34,466) General and administrative (20) (57) Ground rent (1,579) (4,700) Total operating expenses (22,598) (66,576)

Interest expense, net (6,159) (18,225) Gain on sale of interests in properties — 1,040 Income and other taxes (32) (112) Loss from unconsolidated entities, net $ (5,515) $ (11,301)

Note: The amounts above represent the company's pro-rata share based upon the percentage of ownership interest per joint venture entity in each amount indicated, but it should be noted that the company does not control the unconsolidated entities.

SUPPLEMENTAL INFORMATION | 21 NON-GAAP PRO-RATA FINANCIAL INFORMATION PROPORTIONATE SHARE OF UNCONSOLIDATED PROPERTIES - BALANCE SHEET Washington Prime Group Inc. (Unaudited, dollars in thousands)

September 30, 2020 WPG's Share of Unconsolidated Entities Assets: Investment properties at cost $ 1,175,286 Construction in progress 21,500 1,196,786 Less: accumulated depreciation 242,355 954,431

Cash and cash equivalents 16,841 Tenant receivables and accrued revenue, net (see below) 23,621 Deferred costs and other assets (see below) 146,214 Total assets $ 1,141,107

Liabilities and members' equity: Mortgage notes payable $ 616,589 Accounts payable, accrued expenses, intangibles, and deferred revenues (see below) 146,314 Total liabilities 762,903 Members' equity 378,204 Total liabilities and members' equity $ 1,141,107

Supplemental Balance Sheet Detail: Tenant receivables and accrued revenue, net: Straight-line receivable, net of reserve $ 9,991 Tenant receivable 19,337 Deferred receivable 2,397 Unbilled receivables and other 158 Allowance for doubtful accounts, net (8,262) Total $ 23,621

Deferred costs and other assets: Deferred leasing, net $ 11,647 In place lease intangibles, net 16,690 Acquired above market lease intangibles, net 19,093 Right of use asset 88,345 Mortgage and other escrow deposits 7,137 Prepaids, notes receivable and other assets, net 3,302 Total $ 146,214 Accounts payable, accrued expenses, intangibles and deferred revenues: Accounts payable and accrued expenses $ 35,703 Below market leases, net 19,169 Lease liability 88,345 Other 3,097 Total $ 146,314 Note: The amounts above represent the company's pro-rata share based upon the percentage of ownership interest per joint venture entity, but it should be noted that the company does not control the unconsolidated entities.

SUPPLEMENTAL INFORMATION | 22 GLOSSARY OF TERMS

- Average rent PSF Average base minimum rent charge in effect for the reporting period for all tenants that qualify to be included in the occupancy as defined below. - EBITDAre Net income (loss) attributable to the company before interest, depreciation and amortization, gains/losses on sale of operating properties, impairment charges, income taxes and adjustments related to pro-rata share of unconsolidated entities. The calculation is consistent with the definition published by The National Association of Real Estate Investment Trusts ("NAREIT") in a white paper issued in September 2017. - Funds from operations (FFO) Funds From Operations ("FFO") is a supplemental non-GAAP measure utilized to evaluate the operating performance of real estate companies. NAREIT defines FFO as net income (loss) attributable to common shareholders computed in accordance with generally accepted accounting principles ("GAAP"), excluding (i) gains or losses from sales of operating real estate assets and (ii) extraordinary items, plus (iii) depreciation and amortization of operating properties and (iv) impairment of depreciable real estate and in substance real estate equity investments and (v) after adjustments for unconsolidated partnerships and joint ventures calculated to reflect funds from operations on the same basis. - Funds from operations, as adjusted (AFFO) AFFO is calculated by adjusting FFO as defined above for non-recurring items such as merger costs, non-recurring debt fee amortization charges, gain on debt extinguishment and similar items. - Gross leasable area (GLA) Measure of the total amount of leasable space in a property. - Net operating income (NOI) Revenues from all rental property less operating and maintenance expenses, real estate taxes and rent expense including the company's pro-rata share of real estate joint ventures. Excludes non-recurring items such as termination income, sales from outparcels, material insurance proceeds, and other noncash items such as straight-line rent and fair value adjustments. - Occupancy Occupancy is the percentage of total owned square footage ("GLA") which is leased as of the last day of the reporting period for tenants with terms of a year or more. For enclosed retail properties, all company owned space except for anchors, majors, office and outlots are included in the calculation. For open air properties, all owned GLA other than office are included in the calculation. - Occupancy cost Percent of tenant's total occupancy cost (rent and reimbursement of CAM, tax and insurance) to tenant sales for stores of 10,000 sf or less. - Re-leasing spread Re-leasing Spread is a ‘‘same space’’ measure that compares initial rent for new deals on individual spaces to expiring rents for prior tenants. For enclosed retail properties, majors, freestanding and office tenants are excluded. For open air properties, office tenants are excluded. The new rent is the weighted average of the initial cash Total Rent PSF for spaces leased during the trailing twelve month period, and includes new leases and existing tenant renewals and relocations (including expansions and downsizings). The prior rent is the weighted average of the final cash Total Rent PSF as of the month the tenant terminates or closes. Total Rent PSF includes Base Minimum Rent, common area maintenance ("CAM") and base percentage rent. It includes leasing activity on all spaces occupied by tenants as long as the opening and closing dates are within 24 months of one another. - Sales PSF Trailing twelve-month sales for in-line stores of 10,000 SF or less. Excludes freestanding stores and specialty tenants.

SUPPLEMENTAL INFORMATION | 23 Washington Prime Group Inc. 1 Third Quarter 2020 Earnings Presentation

Safe Harbor Some of the information contained in this presentation includes forward looking statements. Such statements are subject to a number of risks and uncertainties which could cause actual results in the future to differ materially and adversely from those described in the forward looking statements. Investors should consult the Company’s filings with the Securities and Exchange Commission (SEC) for a description of the various risks and uncertainties which could cause such a difference before deciding whether to invest. This presentation also contains non GAAP financial measures and comparable net operating income (NOI). Reconciliation of this non GAAP financial measure to the most directly comparable GAAP measure can be found within the Company’s quarterly supplemental information package and in filings made with the SEC, which are available on the investor relations section of its website at www.washingtonprime.com. 2

Major Company Highlights Major Company Highlights o The Company has collected 87% of 3Q 20 rental income and associated charges adjusted for the applicable impact of COVID-19 lease amendments and related rent concessions; o Notwithstanding a challenging retail landscape as a result of the COVID-19 pandemic, year-to-date leasing volume exhibited a 7.0% YOY increase totaling 3.4M SF and 47% of new leasing volume was attributable to lifestyle tenancy; o The Company successfully executed amendments to its credit facilities during 3Q 20, which provides certain covenant relief through the third quarter of 2021; o The Company is actively negotiating specific measures with existing debt investors that would result in deleveraging of its balance sheet if execution is successful; o The Company ended 3Q 20 with $112M cash on hand; o As previously announced and subject to common shareholder approval, the Company intends to enter into a reverse common share split (1:9) by the end of the year whereby nine of the existing common shares are to be converted to a single common share; and 3 o The Board of Directors declared the fourth quarter dividend for the Company’s preferred shares.

Leasing Strength and Stable Operating Metrics during the COVID-19 Pandemic Leasing Summary o Year-to-date leasing volume through September 30, 2020 exhibited a 7.0% YOY increase totaling 3.4M SF; o During the COVID-19 pandemic, between March and September, 486 leases were signed totaling 2.5M SF; o 47% of new leasing volume year-to-date was attributable to lifestyle tenancy which includes food, beverage, entertainment, home furnishings, fitness, and professional services; o The aforementioned 3.4M SF year-to-date follows annual leasing volume of 4.4M SF, 4.2M SF, and 4.0M SF during 2019, 2018 and 2017, respectively, totaling 16.0M SF since 2017; and o Year-to-date adaptive reuse openings include: Dunham’s Sports, WVU Medicine and Ollie’s Bargain Outlet at Morgantown Mall; Dunham’s Sports at Markland Mall; Morris Furniture at both The Mall at Fairfield Commons and Dayton Mall; and FieldhouseUSA at The Outlet Collection™ | Seattle. Operating Metrics Summary o New releasing spreads for Tier One assets exhibited an increase of 1.6% for the twelve months ended September 30, 2020; o Releasing spreads for combined Tier One and Open Air assets decreased 3.1% for the twelve months ended September 30, 2020, with 2.8% of the decline attributable to rent concessions for renewals completed in response to the COVID-19 pandemic; o As of September 30, 2020, combined Tier One and Open Air occupancy decreased 230 basis points YOY to 91.2%, o Reported YOY comparable sales decreased 8% for 3Q 20 albeit ending on a positive note with an increase of 2% during the month of September for Tier One assets; and 4 o Traffic trends have exhibited steady weekly sequential improvement since reopening in June notwithstanding a leveling off during July, followed by improvement in August and September with a subsequent tempering during October.

Net Operating Income Performance and Rental Collections Improve Significantly Net Operating Income Summary o As a result of the COVID-19 pandemic, 3Q 20 Tier One comparable NOI decreased 41.4% YOY while Open Air comparable NOI decreased 13.6%, resulting in a combined decrease of 32.6% or $35.0M. Both Open Air and Tier One properties showed a slight sequential improvement in NOI trends from the previous quarter decrease of 53.1% for Tier One, 24.5% for Open Air and a combined decrease of 44.6%. This decrease can best be explained by factors which include a cautious view of the future collection of outstanding pandemic related rental income including temporarily moving to cash basis revenue recognition relating to the Company’s national theater tenancy in 3Q 20 ($8M), the impact of rental relief including moving to percentage rent structures for certain tenants ($3M), the impact from 2Q 20 and 3Q 20 bankruptcies ($6M), and reserving for tenants that are past due on payments ($13M). The decrease includes the impact of both completed and in process COVID-19 related lease modifications; o For 3Q 20, the Company has collected approximately 87% of rental income and associated charges adjusted for the applicable impact of COVID-19 lease amendments and related rent concessions, which is an improvement from the 52% of contractual rental income and associated charges without lease amendments collected during 2Q 20. The collection rate for 3Q 20 is comprised of approximately 84% for enclosed assets and approximately 95% for Open Air assets based on the applicable impact of COVID-19 lease amendments and related rent concessions; and o For 4Q 20, the Company anticipates a decrease in comparable NOI between 10% and 20% which would represent improvement from the previous two quarters’ performance. This assumes that the Company’s properties remain open throughout the fourth quarter and are not significantly impacted by any future government-mandated operating restrictions. 5

Adaptive Reuse and Mixed Use Update Adaptive Reuse and Mixed Use Summary o Of the 18 adaptive reuse projects addressed, the Company held discussions with the respective tenancy and every single one remains committed to open, albeit seven projects are delayed to 4Q 20 or 1H 21; o As of September 30, 2020, the Company has resolved 18, or 64%, of the 28 department stores of which the Company has control; o As exhibited within the most recent 3Q 20 supplemental, the Company continues to provide real time updates relating to the 30 department stores within its Tier One and Open Air assets identified for repositioning (excluding space owned by third parties such as Seritage Growth Properties). As of September 30, 2020, only two of these department store spaces remained occupied by Sears; o Clay Terrace, Carmel, Indiana: Planning continues for mixed uses, including multifamily rental units, as well as a lifestyle hotel, new office space, and space intended for lifestyle, food and beverage uses; o WestShore Plaza, Tampa, Florida: As the Company continues the process of obtaining necessary entitlements regarding a mixed use redevelopment replacing the Sears site at the property, a letter of intent was executed with a third party developer to add residential units, office space, and a potential hotel to this parcel; o Westminster Mall, Westminster, California: A letter of intent was executed as it relates to the mixed use redevelopment and previously discussed monetization of Westminster Mall. The planned sale of this property will result in excess of $50M in cash proceeds; and o In addition to the aforementioned, the Company has identified eight assets which are suitable for mixed use redevelopment and it is estimated these assets could result in multifamily densification totaling over 4,000 units as well as a host of other nonretail uses. Discussions at various stages are underway with 6 municipalities to achieve zoning entitlements as well as financial and strategic partners to execute upon these value add mixed use projects.

Proactivity and New Initiatives Continue to Define the Company during the COVID-19 Pandemic Reopening, Innovation and Charitable Initiatives Summary o While all of the Company’s assets have reopened, the Company realizes that future temporary closures may be necessary in response to an uptick in COVID-19 cases and government mandates; o While the Company’s assets were fully or partially closed, a concerted effort focused upon safe reopening and included a best practices manual, tenant discussion forums and the launch of Retail-to-Go curbside pickup services; o Fulventory, the Company’s last mile fulfilment initiative, has been met with tenant response which has surpassed expectations as illustrated by the recent leasing of an 80,000 SF medical logistics, distribution and fulfillment facility, an inventory clearance facility to a sporting goods retailer and several letters of intent and ongoing discussions with existing and prospective tenants to address portfolio wide fulfillment solutions; and o Such industry leading initiatives as WPG Cares and Open for Small Business have been exemplary with respect to the Company serving as a community and tenant resource. For instance, WPG Cares has participated in over 1,000 community service projects; Open for Small Business has hosted over 25 webinars attended by several thousand participants; and Well Picked Goods benefitted the Company’s tenancy during asset closures via digital merchandise curation and an in store gift card promotion as reopening occurs. 7

Department Store Adaptive Reuse WPG Department Store Repositioning Snapshot 30 Department Stores Anticipated capital of approximately $250M over the next three to four years 1 Under Evaluating Completed Active Announced Construction 3 9 4 7 7 ¹In addition to ~$100M spent through SEP 30, 2020 18 Projects Addressed (Tier One and Open Air) Mall at Johnson City Southern Park Mall Lincolnwood Town Center Polaris Fashion Place Johnson City, TN Boardman (Youngstown), OH Lincolnwood, IL Columbus, OH 8

Department Store Adaptive Reuse Detail V The Mall at Johnson City, Johnson City, Tennessee: HomeGoods to anchor the replacement of the former Sears; V Polaris Fashion Place®, Columbus, Ohio: Fieldhouse USA to anchor the mixed use redevelopment of former Sears and is under construction; V Town Center at Aurora®, Aurora, Colorado: Fieldhouse USA to anchor the planned mixed use redevelopment of the former Sears; V Markland Mall, Kokomo, Indiana: Dunham’s opened during 3Q 20 replacing the former Carson Pirie Scott (Bon-Ton Stores); V Southern Park Mall, Boardman (Youngstown), Ohio: The demolition of the former Sears is underway and is to be replaced by DeBartolo Commons which includes an athletic green space, an ice skating rink and entertainment venue. V Southern Park Mall, Boardman (Youngstown), Ohio: The redevelopment project will also feature a new entertainment hub anchored by Steel Valley Brew Works, The Bunker indoor golf center and Ben Curtis Golf Academy, and Bogey’s restaurant and bar. In addition, Macy’s will renovate their store at Southern Park Mall and extend the term of their lease. The renovation also includes a permanent DeBartolo-York Family installation situated within the common area; V Port Charlotte Town Center, Port Charlotte, Florida: A national entertainment concept has executed a letter of intent to replace Sears; V Longview Mall, Longview, Texas: Two national retailers to replace the former Sears with Conn’s HomePlus under construction and a letter of intent executed for the remaining space; V Mesa Mall, Grand Junction, Colorado: Three department store replacements include a national sporting goods retailer replacing the former Herberger’s department store (Bon-Ton Stores), Dillard’s to replace the former Sears and HomeGoods to replace the former Sports Authority all of which have executed letters of intent; V Southern Hills Mall, Sioux City, Iowa: The Company has executed letters of intent with national off price and home furnishings retailers to replace the former Sears location; V Southgate Mall, Missoula, Montana: Dillard’s opened a second location during June 2019 replacing former Herberger’s (Bon-Ton Stores) and SCHEELS All Sports will replace JCPenney; V Grand Central Mall, Parkersburg, West Virginia: HomeGoods, PetSmart, Ross Dress for Less and T.J. Maxx are under construction to collectively replace the former Sears location; V Morgantown Mall, Morgantown, West Virginia: Dunham’s Sports held grand opening during 2Q 20 replacing Elder Beerman (Bon-Ton Stores). Ollie’s Bargain Outlet, which opened in October 2020, along with an entertainment concept will replace the former Belk’s. In addition, the former Sears was replaced with an 80,000 SF WVU Medicine logistics, distribution and fulfillment facility as part of the Company’s Fulventory initiative; V Lincolnwood Town Center, Lincolnwood, Illinois: The RoomPlace opened August 2019 replacing Carson Pirie Scott (Bon-Ton Stores); and V The Mall at Fairfield Commons, Dayton, Ohio: Round1 Entertainment opened November 2019 replacing the lower level of the former Sears, and the upper level is occupied by Morris Furniture, which opened in 2Q 20. 9

WPG Serving as a Resource to Guests, Tenants and Sponsors During the COVID-19 Pandemic Initiative WPG Cares The Company recently offered its assets and services to over 600 local, state, federal and Purpose Local philanthropy during nonprofit agencies combating COVID-19. To date, WPG has performed over 1,000 COVID-19 pandemic community service projects including serving as distribution centers for medical supplies, hosting of COVID-19 testing stations, providing space for food depository as well as Beneficiary Those impacted and immediate response actions. Asset participation with onsite management nearly 100%. essential workers Initiative Fulventory The Company recently launched Fulventory, a last mile fulfilment initiative which allows tenants to utilize space within WPG assets for BOPIS (buy online and pickup in store) and Purpose Last mile fulfillment within inventory clearance. As BOPIS and BORIS continue to gain traction with consumers, WPG assets Fulventory captures the nexus between physical space and eCommerce serving as an Beneficiary Local and national tenancy amenity for both guests and tenants. Initiative Open for Small Business WPG established Open for Small Business in conjunction with University of Chicago’s Clinic Purpose Lease modification on Entrepreneurship and faculty members (Nobel Laureate Richard Thaler and and educational webinars Freakonomics author Steven Levitt) in order to assist local entrepreneurs e.g. standardized lease modification. Open for Small Business also hosts educational webinars addressing Beneficiary Small business and such topics as accessing SBA capital and other relevant subject matter. local entrepreneurs 10

More Examples of WPG Serving as a Resource to Guests, Tenants and Sponsors During the COVID-19 Pandemic Initiative #scholarspree #ScholarSpree is a celebration honoring high school seniors nationwide. WPG honored their Purpose Host virtual graduation accomplishments with outdoor and digital events to ensure everybody’s safety during the Coronavirus and related activities pandemic. Activities included car parades, parking space decoration as well as a Class of 2020 digital mosaic and graduation cap (mortar board) design contest with a grand prize of $10,000. Beneficiary High school seniors Initiative Well Picked Goods Well Picked Goods is an initiative whereby WPG produces a weekly digital curation of merchandise from local entrepreneurs and national tenancy as selected by General Managers of a featured WPG Purpose Online merchandise with in town center. Intended to maintain consumer loyalty and incent a return to the physical asset, Well store incentive Picked Goods includes an in store gift card promotion subject to a minimum purchase as tenants Beneficiary Guests and tenants reopen for business. Initiative Latinx As a substantial number of WPG assets cater to a Hispanic demographic constituency, Latinx is an initiative which allows Latin American domiciled retailers the ability to beta test US consumer Purpose Beta test LatAm retailers receptivity via temporary (pop up) installations both inline and common area. In addition to physical within WPG assets locations, WPG will provide digital access throughout its entire portfolio as well as social media Beneficiary LatAm retailers activation. Initiative Retail to Go WPG is of the belief there exists a symbiotic relationship between physical retailing and eCommerce. The key to successfully integrating the two is to provide guest convenience in conjunction with Purpose Facilitate BOPIS for guest relevant goods and services and dynamic attractions which result in extended guest visitation. Retail convenience 11 to Go satisfies the convenience proposition while WPG continues to diversify tenancy and activate Beneficiary Guests and tenants common area.