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A GLOBAL LEADER IN REAL ESTATE

CORPORATE OVERVIEW Redefining our success

Optimizing results across our global portfolio of Malls, Simon Premium Outlets,® and The Mills® is our priority both short and long term. We continue to engage in redevelopment projects that refine and reimagine how people around the world shop. With a view to the collective success of Simon, our retail partners, and our neighbors, we are investing in our future. Over the next three years, Simon will invest $3 billion in new development and redevelopment projects to enhance and expand some of our best properties, thus further diversifying and increasing the quality and reach of our portfolio.

COMPANY HIGHLIGHTS U.S. PORTFOLIO U.S. OPERATIONAL STATISTICS

- A global leader in retail real estate - Malls: 107 properties comprising Occupancy - S&P 100 company 122 million square feet Malls & Simon Premium Outlets 95.6% - Total market capitalization - Simon Premium Outlets: 70 properties The Mills 98.4% of approximately $104 billion comprising 30 million square feet and equity capitalization of - The Mills: 14 properties comprising Total Sales per Square Foot approximately $75 billion 21 million square feet Malls & Simon Premium Outlets $61 3 - U.S. portfolio is comprised The Mills $566 of 208 properties—184 million INTERNATIONAL PORTFOLIO As of March 31, 2016 square feet of GLA - High-quality portfolio encompasses -6 1Simon Premium Outlets in the entire retail spectrum—Malls, Canada, Japan, Korea, Malaysia, Simon Premium Outlets, and The Mills and Mexico and 7 Designer Outlets - U.S. properties generate annual retail in Austria, Canada, Germany, Italy, sales of more than $60 billion the Netherlands, and the United - Annual consolidated revenues Kingdom—7 million square feet of more than $5 billion - 20.3% interest in Klépierre, a publicly traded real estate company based in Paris with a portfolio of high-quality centers in 16 countries in Europe ®—Hackensack (Metro ), —Multimillion-dollar transformative redevelopment featuring The Collection, a spectacular luxury oasis to be completed in Fall 2018.

610_0416_MAY2016_SimonCorpOverview.indd 1 5/11/16 12:26 PM REINVESTING

New flooring. Skylights. Enhanced entrances. Electric vehicle charging stations. Upgrading the signature Simon® aesthetic is never-ending. Our focus is on features which enhance the guest experience on a personal level. Comfortable seating, family restrooms, children’s play areas, wireless access, and other technological advances are just some of the upgrades and reinvestments we are constantly exploring.

REDEVELOPMENTS COMPLETED IN 2015 • ®—Brea (Los Angeles), California • The Colonnade Outlets at ®—Sunrise (Ft. Lauderdale), Florida • —Greenville, • ®—, • The Mall at Rockingham Park—Salem (), New Hampshire • —Edison (Metro New York), New Jersey • Montgomery Mall®—North Wales (), • —Hurst ( - Ft. Worth), • —Atlanta, Georgia • ®—Woodbridge (Metro Washington, D.C.), Virginia • The Shops at Chestnut Hill—Chestnut Hill (Boston), Massachusetts • SouthPark—Charlotte, North Carolina • Shops®—Huntington (Metro New York), New York • —Schaumburg (), Illinois The Mall at Rockingham Park REDEVELOPMENTS UNDER WAY • —North Miami Beach, Florida • The Colonnade Outlets at Sawgrass Mills®—Sunrise (Ft. Lauderdale), Florida • —Boston, Massachusetts • Del Amo ®—Torrance (Los Angeles), California • F ashion Centre at Pentagon City—Arlington (Metro Washington, D.C.), Virginia • ®—Orlando, Florida • The Forum Shops at Caesars Palace®—Las Vegas, Nevada • —, Texas • ®—Grapevine (Dallas), Texas • King of Prussia®—King of Prussia (Philadelphia), Pennsylvania • Mall—McAllen, Texas • —Seattle, Washington • ®—Philadelphia, Pennsylvania • Roosevelt Field®— (Metro New York), New York • The Shops at Riverside®—Hackensack (Metro New York), New Jersey • Stanford —Palo Alto (San Jose), California • —White Plains (Metro New York), New York • Woodbury Common Premium Outlets®—Central Valley (Metro New York), New York PLANNED REDEVELOPMENTS • ABQ Uptown—Albuquerque, New Mexico • ®—Tempe (Phoenix), Arizona • —Austin, Texas • —Carmel (), • —El Paso, Texas Woodbury Common Premium Outlets® • —Bloomington, Indiana • ®—Concord (Charlotte), North Carolina • —Miami, Florida • ®—Miami, Florida • Fashion Valley—San Diego, California • Great Mall®—Milpitas (San Jose), California • —, Texas • ®—Katy (Houston), Texas • ®—Livingston (Metro New York), New Jersey • The Mall at Tuttle Crossing®—Columbus, Ohio • —Buford (Atlanta), Georgia • ®—Reno, Nevada • Menlo Park Mall—Edison (Metro New York), New Jersey • The Mills at Jersey Gardens—Elizabeth (Metro New York), New Jersey • —Miami, Florida • ®—Ontario, California • The Outlets at OrangeTM—Orange (Los Angeles), California • ®—Rockaway (Metro New York), New Jersey • —, Pennsylvania • Sawgrass Mills®—Sunrise (Ft. Lauderdale), Florida • —Lake Grove (Metro New York), New York • —Marlborough (Boston), Massachusetts • Town Center at Boca Raton®—Boca Raton (Miami), Florida • —Knoxville, Tennessee

• Woodfield Mall—Schaumburg (Chicago), Illinois ™

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MALLS ®—Norfolk (Virginia Beach), Virginia • 332,000 square feet featuring 80 designer and name-brand outlets opening in Summer 2017 to serve Norfolk, Virginia Beach, Brickell City Centre—Miami, Florida Chesapeake, and the entire Hampton Roads area • Impressive new 5.4 million-square-foot, mixed-use development • Centrally located at the major crossroads of I-64 and US 13 opening Fall 2016 (leading to the Chesapeake Bay Bridge/Tunnel) adjacent to •  to anchor 565,000 square feet that will include Norfolk International Airport retail shops, restaurants, and Cinemex •o Tinclude 260,000 square feet of Class A office space Tanger Outlets–Columbus—Columbus, Ohio • Will feature 820 luxury condominiums and a 263-room luxury hotel • 355,000 square feet featuring 90 designer and name-brand • Partnership with Swire Properties and Whitman Family Development outlets opening in June 2016 • Strategic location in close proximity to Columbus City Center The Shops at Clearfork—Ft. Worth, Texas • Easily accessible from the I-71 and US 36 interchange • Upscale retail component of exciting new mixed-use development • Joint venture with Tanger Outlets • To be anchored by a 90,000-square-foot • Phase 1 is scheduled to open Spring 2017 with 380,000 square feet Tulsa Premium Outlets®—Jenks (Tulsa), Oklahoma featuring luxury and specialty retail, restaurants, and a cinema • 325,000 square feet featuring 80 designer and name-brand •o Alsto feature 125,000 square feet of Class A office space outlets opening June 2018 to serve the Tulsa metropolitan and 392 luxury apartment homes area of approximately one million • Partnership with Cassco Development Co. • Located south of downtown Tulsa on Creek Turnpike in the affluent city of Jenks The Shops at Syosset Park—Long Island (Metro New York), New York • Retail component of a world-class, master-planned, mixed-use development projected to open Holiday 2018 in idyllic Oyster Bay THE MILLS® • 450,000 square feet of retail shops, restaurants, theatre, and local service retail establishments •p Uto 200,000 square feet of Class A office space Town Center at Sawgrass—Sunrise (Ft. Lauderdale), Florida • This 225,000-square-foot full-price, lifestyle-shopping destination • Seven neighborhoods with approximately 600 condominium is scheduled to open in Fall 2018 featuring exceptional retail space flats, townhomes, cottages, and single-family homes and a full complement of sit-down restaurants • One select-service, boutique-style hotel and a companion • Adjacent to Sawgrass Mills® and The Colonnade Outlets at business hotel Sawgrass Mills®—Florida’s number one shopping destination • 30-acre “Great Park” will be a regional recreational destination

SIMON PREMIUM OUTLETS® INTERNATIONAL PROPERTIES

Genting Highlands Premium Outlets—Genting Highlands Ann Arbor Premium Outlets®—Salem (Ann Arbor), Michigan (Kuala Lumpur), Malaysia • 320,000 square feet featuring 80 designer and name-brand • 275,000 square feet of designer and name-brand outlets opening outlets scheduled to open in 2018 to serve Ann Arbor and Spring 2017 adjacent to the Genting Highlands Casino ’s affluent western suburbs • In close proximity to Detroit’s affluent western suburbs, Premium Outlet Collection Edmonton—Edmonton, Alberta, Canada including Novi, Salem, Northville, Livonia, Plymouth and • 428,000 square feet featuring 100 designer and name-brand outlets Canton, and easily accessible to the northern suburbs opening in October 2017 at the Edmonton International Airport to such as Commerce, Bloomfield Hills and Birmingham serve the Edmonton region • Population within a 30-mile radius is 3.4 million, with • Edmonton is at the center of Canada’s sixth-largest census an average household income of $69,000 metropolitan area (CMA) and a major hub for the oil and gas industry • Site’s average daily traffic count is 60,000 vehicles • A popular destination for tourists, Edmonton welcomes 6.5 million Woodbury Common Premium Outlets® visitors annually Clarksburg Premium Outlets®—Clarksburg (Washington, D.C.), • Joint venture with Ivanhoé Cambridge Maryland • 390,000 square feet featuring 100 designer and name-brand Provence Designer Outlet—Miramas, France outlets opening in October 2016 to serve the affluent suburban • 269,000 square feet featuring 120 retail stores plus 8 cafes Maryland/Washington, D.C. market and restaurants opening Spring 2017 • Located in one of the most affluent, highest-growth corridors • Joint venture with McArthurGlen Group in the country, just outside the nation’s capital Siheung Premium Outlets—Siheung (Seoul), Korea • Four of the top 10 wealthiest counties in the country are within • 399,000 square feet of designer and name-brand outlets 30 miles of the site opening Spring 2017 • Joint venture with New England Development

Denver Premium Outlets®—Thornton (Denver), Colorado • 320,000 square feet featuring 80 designer and name-brand outlets opening in October 2017 to serve the metropolitan Denver market • Located 10 miles north of downtown Denver on I-25 • Adjacent to Cabela’s

The Outlets at Orange™

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EXPANSIONS

MALLS • Recapturing existing GLA and adding aspiring luxury brand Zara plus trendy dining options and matchbox american ABQ Uptown—Albuquerque, New Mexico kitchen+spirit •o Tfurther enhance the tenant mix and strengthen the center’s position • Projected completion Summer 2016 in the market, plans are currently under way to add another 40,000 Fashion Valley—San Diego, California square feet of retail and restaurant space as well as a hotel • Anchored by Neiman Marcus, , Bloomingdale’s, Aventura Mall—North Miami Beach, Florida Macy’s, JCPenney, Forever 21, AMC Theatres, The Cheesecake • 212,000-square-foot expansion targeted to open Holiday 2017 Factory, and True Food Kitchen; features international will add new retail shops and restaurants fashion houses like Hermès, Prada, and Salvatore Ferragamo • Anchored by Bloomingdale’s, Macy’s, Macy’s Men’s & Home, • Expansion to feature 80,000 square feet of new small shops Nordstrom, JCPenney, and Sears The Florida Mall®—Orlando, Florida • Expansion to include four restaurants surrounding a new feature •w NeDining Pavilion is now open and features expanded food piazza, a new food hall with casual food offerings, and a VIP concierge and retail offerings plus additional fashion-forward retailers area for shoppers; new parking deck will be built as part of the project • Crayola Experience and Dick’s Sporting Goods now open • Managed by Turnberry Associates • Anchored by Dillard’s, Macy’s, JCPenney, and Sears plus M&M’s Cielo Vista Mall—El Paso, Texas WORLD, XXI Forever, and The Florida Hotel and Conference Center • Anchors: Dillard’s, Macy’s, JCPenney, Sears, and Cinemark Theatres • Lifestyle area features Florida’s first H&M, Orlando’s only American • Plans to relocate the existing Dillard’s Women’s store and create new Girl,® and a new Zara flagship store small-shop wing; relocating the Dillard’s Men’s & Children’s store to • Interior renovation includes cosmetic upgrades to floor and ceiling, new the former location of Dillard’s Women’s lighting and signage, and the addition of a new children’s play area College Mall—Bloomington, Indiana The Galleria—Houston, Texas • Anchors: Macy’s, Target, Dick’s Sporting Goods, Bed Bath & Beyond •w NeSaks Fifth Avenue two-story, 198,000-square-foot, state-of-the- • Expansion scheduled to begin in 2016 and open in Summer 2017 art flagship store opened April 2016, joining anchors Neiman Marcus, • 75,000-square-foot, open-air component anchored by Nordstrom, and Macy’s 365 by and ULTA Beauty opening 2017 • Converting existing Saks Fifth Avenue to two-level wing connecting the • Adding approximately 17,000 square feet of new small-shop space new Saks Fifth Avenue, Neiman Marcus, and luxury retailers; adding 35 and renovating another 16,000 square feet luxury retailers and feature restaurants, including FIG & OLIVE and Nobu • BJ’s Restaurant & Brewhouse and Panera Bread coming soon •w Neluxury building on Westheimer Road features The Webster, • Significant site improvements to create pedestrian-friendly environment with Shake Shack and Yauatcha opening Fall 2016 Copley Place—Boston, Massachusetts • Upgrading interior, exterior, and parking decks •  Anchored by Neiman Marcus, , Boston Marriott • Adjacent luxury hotel and residential high-rise planned Copley Place, and The Westin Hotel King of Prussia®—King of Prussia (Philadelphia), Pennsylvania • Neiman Marcus renovation and 12,000-square-foot expansion • Anchored by Neiman Marcus, Nordstrom, Bloomingdale’s, Lord to a 120,000-square-foot store & Taylor, Macy’s, Primark, JCPenney, Arhaus, , • 30,000 square feet of new and reconfigured restaurants Crate & Barrel, Dick’s Sporting Goods, and Grand Lux Cafe, with and retail shops with a public winter garden Yard House, True Food Kitchen, and Outback Steakhouse coming soon •o Alsadding a 52-floor apartment/condominium tower with •  150,000-square-foot enclosed retail connection linking and 421 apartments and 121 condominiums The Court to be completed in Summer 2016, featuring approximately Dadeland Mall—Miami, Florida 50 new retailers, several restaurants, an upscale Dining Pavilion, and • Features Nordstrom, Saks Fifth Avenue, Macy’s, Macy’s Children a customer lounge & Home, and JCPenney —McAllen, Texas • Plans to add a new fashion , specialty retail shops, • Anchored by Dillard’s, Macy’s, Macy’s Home & Children’s Store, and JCPenney residential units, and a full-service hotel • 220,000-square-foot expansion under construction will open Fall 2017 •w NeDining Pavilion recently completed and include new retailers along with four signature restaurants • Second level with five new full-service restaurants with outdoor • Complete interior and exterior renovation with the addition of two seating overlooking Kendall Drive now open parking garages ®—Torrance (Los Angeles), California Meadowood Mall®—Reno, Nevada • Nordstrom and 400,000 square feet of new specialty stores and • Anchored by Macy’s, JCPenney, and Sears restaurants, including Great Maple and FRIDA, plus a new upscale, • Renovation recently completed; now open garden-inspired Dining Pavilion now open •w Neretailers include H&M, Coach, PINK, Fans, and Forever 21 • Completed a comprehensive renovation of enclosed mall anchored • Dick’s Sporting Goods opening Fall 2016 by Macy’s, Macy’s Men’s & Home, JCPenney, Sears, Barnes & Noble, Menlo Park Mall—Edison (Metro New York), New Jersey Crate & Barrel, Arhaus, Zara, AMC Del Amo 18, and LA Fitness • Anchored by Nordstrom, Macy’s, Barnes & Noble, AMC Dine-In • Creating three distinct districts: upscale enclosed mall, value-oriented Theatres, Havana Central, and Seasons 52 enclosed mall, and lifestyle/entertainment venue • Proposed new fashion department store • BRIO Tuscan Grille and EMC Seafood & Raw Bar coming soon; Dick’s • The recently completed renovation updated mall entrances with new Sporting Goods opening 2017 stone pavers, signage, flooring, lighting, and landscaping and added Fashion Centre at Pentagon City—Arlington a spectacular new Dining Pavilion (Metro Washington, D.C.), Virginia • Mall upgrades included Center Court soft seating, charging stations, • Anchored by Nordstrom, Macy’s, the Ritz-Carlton Hotel, and and elevator; new restroom finishes, fixtures, and lighting; carpeted Washington Tower soft-seating areas throughout; and new natural stone and porcelain • Expansion and redesign of the Hayes Street entrance to create tile flooring and carpeting marquee two-level storefronts for retailers Montgomery Mall®—North Wales (Philadelphia), Pennsylvania • Complete interior renovation included new flooring, fixtures, • Renovation of mall entrance/exterior façade between Wegmans soft-seating areas, food court seating, and restroom updates and Macy’s; relocation of existing tenants • Small-shop space and common area redevelopment to accommodate new retail; adding exterior-facing restaurant, two fast-casual tenants

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EXPANSIONS

• Recently completed common area improvements include a new escalator THE MILLS® and updated restrooms, lighting, landscaping, and children’s play area • Anchored by Macy’s, JCPenney, Sears, Dick’s Sporting Goods, and Wegmans Concord Mills®—Concord (Charlotte), North Carolina • Expansion featuring freestanding sit-down restaurants, including Phipps Plaza—Atlanta, Georgia Bonefish Grill, Chipotle Mexican Grill, and Outback Steakhouse, •w Neexterior façade on Peachtree Road and interior renovation completed is under way • Anchored by Nordstrom, Saks Fifth Avenue, , a new Arhaus, • Comprehensive interior renovation to be completed in 2016; and a recently renovated AMC Theatres exterior renovation will be completed in 2017 • The Domain at Phipps Plaza opens Summer 2016 with 320 residential units •6 1anchors include Bass Pro Shops Outdoor World, Burlington, •C AHotels by Marriott currently under construction opens July 2016 Forever 21, NikeFactoryStore, and SEA LIFE Roosevelt Field®—Long Island (Metro New York), New York • H&M opening Fall 2016 • Long Island’s only Neiman Marcus and additional small shops open, joining Grapevine Mills®—Grapevine (Dallas), Texas Nordstrom, Bloomingdale’s, Bloomingdale’s Furniture Gallery, Macy’s, • Recently completed common area renovation has created a new JCPenney, Dick’s Sporting Goods, XSport Fitness, and AMC Theatres upscale, timeless look • Bobby’s Burger Palace, The Capital Grille, Grand Lux Cafe, Havana •w Nefashion district entry feature and valet station completed Central, and Seasons 52 now open • 22 anchors include Neiman Marcus Last Call, Saks Fifth Avenue •w NeDining District with 17 units and 1,325 seats now open OFF 5TH, Forever 21, and NikeFactoryStore • Renovation of interior, exterior, and garages completed • Recently added H&M, LEGOLAND Discovery Center, and SEA LIFE • Renovation of AMC Theatres to luxury experience with new seating open Grapevine Aquarium The Shops at Riverside®—Hackensack (Metro New York), New Jersey • Round 1 opening Summer 2016 • Anchored by Bloomingdale’s, Arhaus, Barnes & Noble, and Pottery Barn The Mills at Jersey Gardens—Elizabeth (Metro New York), New Jersey • Fall 2018 completion of a transformative redevelopment will establish • 503,000-square-foot expansion to include a relocated AMC Theatres three distinctive environments—The Collection, a spectacular luxury oasis; and the addition of approximately 365,000 square feet of small shops, lifestyle and home furnishings; and entertainment and dining—creating one several new anchor boxes, three restaurants, a new dining pavilion, exceptional shopping destination that reflects the area’s refined lifestyle and two parking decks • Renovation of the luxury collection portion of the property to feature • Construction to start in 2017; opening projected for Holiday 2019 new vertical transportation, vaulted ceilings, and lush amenities • Current anchors include Neiman Marcus Last Call, Saks Fifth Avenue • Restaurants include The Cheesecake Factory, Houston’s, Maggiano’s OFF 5TH, and Century 21 Department Store Little Italy, Morton’s The Steakhouse, The Oceanaire Seafood Room, P.F. Chang’s, and Rosa Mexicano Ontario Mills®—Ontario, California • Redevelopment of the former department store to include AMC •1 anchors2 include Neiman Marcus Last Call, Nordstrom Rack, Theatres and exclusive shops and restaurants Saks Fifth Avenue OFF 5TH, and NikeFactoryStore • 100,000-square-foot expansion now open with new small shops —Palo Alto (San Jose), California and restaurants, including Calvin Klein Underwear, The North Face, • Features Neiman Marcus, Nordstrom, Bloomingdale’s, Macy’s, Original Penguin, Tommy Hilfiger, and Blaze Pizza and more than 140 world-class specialty shops and restaurants •O UNIQLopening August 2016; Tilt and ULTA Beauty opening Fall 2016 • The Apple Store new flagship store, American Girl,® and The Container Store now open The Outlets at OrangeTM—Orange (Los Angeles), California • Redesign of former Bloomingdale’s space to add 132,000 square feet • Eleven anchors include Neiman Marcus Last Call, Saks Fifth Avenue of new retail and restaurants opening Spring/Summer 2016, including OFF 5TH, and H&M Anthropologie, BOSS Hugo Boss, Luisa Spagnoli, lululemon athletica, • Phase 2 expansion to open Holiday 2016 with 60,000 square feet Minamoto Kitchoan, Tender Greens, and True Food Kitchen of new shops as well as Bloomingdale’s–The Outlet Store, Gap Outlet, and Timberland Factory Store The Westchester—White Plains (Metro New York), New York • Anchored by Neiman Marcus, Nordstrom, and Crate & Barrel Sawgrass Mills®—Sunrise (Ft. Lauderdale), Florida • Comprehensive interior and exterior renovation includes new entrance • Century 21 Department Store opening November 2016; H&M façades and sliding glass doors; new carpeting, lighting, and soft seating; opening Summer 2017 renovation of existing restrooms; and updated customer amenities •4 2anchors include Bloomingdale’s–The Outlet Store, Neiman Marcus • Redevelopment of former food court to SAVOR Westchester will Last Call, Nordstrom Rack, and Saks Fifth Avenue OFF 5TH include customer amenities such as a new children’s play area and a • 1,700-car parking deck opening July 2016; renovation of Oasis common media area, plus restaurants and a dining terrace with outdoor seating areas and storefronts by Holiday 2016; second parking deck to open • Valet parking upgrade and new wayfinding signage Spring 2018; multiphase interior common area renovation to be complete by 2019 Woodfield Mall—Schaumburg (Chicago), Illinois • 350,000-square-foot expansion in predevelopment to include new • Anchored by Nordstrom, Macy’s, Lord & Taylor, JCPenney, Sears and Arhaus retail, restaurants, and a hotel in 2019 • Level 257—a multifaceted, urban-chic space combining dining, •w Ne80,000-square-foot expansion of the Colonnade Outlets at entertainment, and social experience—is now open Sawgrass Mills® opened December 2015 and includes Alexis Bittar, • Interior renovation of the mall is now complete CH Carolina Herrera, Furla, Helmut Lang, John Varvatos, La Perla, • Addition of a new Dining Pavilion in 2017 Loro Piana, Marc Jacobs, Michael Kors Mens, Montblanc, PHILIPP SIMON PREMIUM OUTLETS® PLEIN, rag & bone, SAINT LAURENT PARIS, Ted Baker London, Tod’s, Tory Burch, Vince., Zwilling J.A. Henckels Allen Premium Outlets®—Allen (Dallas), Texas • matchbox american kitchen+spirit opening scheduled for Fall 2016 • 102,000-square-foot expansion opening in 2017 at The Colonnade Outlets

Woodbury Common Premium Outlets®—Central Valley (Metro New York), New York INTERNATIONAL PROPERTIES • A full center enhancement started in 2013 will be completed in Premium Outlets®—Halton Hills (Toronto), Ontario, Canada 2017, along with a 60,000-square-foot expansion • 140,000-square-foot Phase 2 expansion opening in 2018 •w Nestate-of-the-art Market Hall opened in 2015 featuring Chipotle • Joint venture with Calloway Real Estate Investment Trust Mexican Grill, Pret A Manger, and 10 other food concepts; other new food operators include Le Pain Quotidien, Shake Shack, and YO! Sushi

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ANCHOR ADDITIONS

MALLS SouthPark—Charlotte, North Carolina • American Girl® and H&M now open Barton Creek Square—Austin, Texas Stanford Shopping Center—Palo Alto (San Jose), California • The Cheesecake Factory now open • Anthropologie, BOSS Hugo Boss, Luisa Spagnoli, lululemon athletica, Minamoto Kitchoan, Tender Greens, True Food Kitchen opening Burlington Mall®—Burlington (Boston), Massachusetts Spring/Summer 2016 • Primark opening Fall 2016 —Akron, Ohio —Santa Rosa, California • BJ’s Restaurant & Brewhouse now open • Nordstrom Rack opening Fall 2016 —Tacoma, Washington College Mall—Bloomington, Indiana • Dick’s Sporting Goods opening Fall 2017 • BJ’s Restaurant & Brewhouse and Panera Bread coming soon • 365 by Whole Foods Market and ULTA Beauty opening 2017 Tyrone Square—St. Petersburg, Florida • Cobb Tyrone Luxury 10 now open Columbia Center—Kennewick, Washington • DSW now open ®—Memphis, Tennessee • HomeGoods opening Fall 2016 • The Cheesecake Factory now open

Del Amo Fashion Center®—Torrance (Los Angeles), California • Nordstrom now open THE MILLS® • BRIO Tuscan Grille and EMC Seafood & Raw Bar coming soon • Dick’s Sporting Goods opening 2017 Arizona Mills®—Tempe (Phoenix), Arizona The Domain®—Austin, Texas • LEGOLAND Discovery Center now open • Arhaus, Punch Bowl Social, and Shake Shack now open • Tilt opening Summer 2016

® The Florida Mall —Orlando, Florida Concord Mills®—Concord (Charlotte), North Carolina • Crayola Experience and Dick’s Sporting Goods now open • H&M opening Fall 2016 •w NeDining Pavilion now open Grapevine Mills®—Grapevine (Dallas), Texas The Galleria—Houston, Texas • Round 1 opening Summer 2016

•w NeSaks Fifth Avenue flagship store now open ® • Shake Shack and Yauatcha opening Fall 2016 —Gurnee (Chicago), Illinois • Floor & Décor opening end of 2016 Haywood Mall—Greenville, South Carolina ® • The Cheesecake Factory opening May 31, 2016 Ontario Mills —Ontario, California • UNIQLO opening August 2016 ®—Independence (Kansas City), • Tilt and ULTA Beauty opening Fall 2016 • Dick’s Sporting Goods now open ®—Nashville, Tennessee King of Prussia®—King of Prussia (Philadelphia), Pennsylvania • Madame Tussauds opening Spring 2017 • Primark now open TM • Outback Steakhouse, True Food Kitchen, and Yard House coming soon The Outlets at Orange —Orange (Los Angeles), California • Bloomingdale’s–The Outlet Store, Gap Outlet, and Lincoln Plaza—Langhorne (Philadelphia), Pennsylvania Timberland Factory Store opening Holiday 2016 • Nordstrom Rack opening Fall 2016 Sawgrass Mills®—Sunrise (Ft. Lauderdale), Florida The Mall at Rockingham Park—Salem (Boston), New Hampshire • Camille La Vie now open • Dick’s Sporting Goods now open • Century 21 Department Store opening November 2016 Mall of Georgia—Buford (Atlanta), Georgia • H&M opening Summer 2017 • opening Fall 2016 ®—Lawrenceville (Atlanta), Georgia McCain Mall—North Little Rock, Arkansas • H&M opening Fall 2016 • BJ’s Restaurant & Brewhouse now open Meadowood Mall®—Reno, Nevada • Dick’s Sporting Goods opening Fall 2016 Newport Centre—Jersey City (Metro New York), New Jersey • The Cheesecake Factory now open • Zara opening Fall 2016 —Lake Charles, Louisiana • ULTA Beauty now open Roosevelt Field®—Long Island (Metro New York), New York • Neiman Marcus now open The Shops at Riverside®—Hackensack (Metro New York), New Jersey • AMC Theatres coming soon Smith Haven Mall—Lake Grove (Metro New York), New York • L.L.Bean opening Spring 2017 —Bethel Park (Pittsburgh), Pennsylvania • Dick’s Sporting Goods, DSW, Target, and ULTA Beauty now open • BJ’s Restaurant & Brewhouse coming soon

South Shore Plaza®—Braintree (Boston), Massachusetts • Primark opening 2017

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SELECTSELECT RESIDENTIALHOTEL OPPORTUNITIES OPPORTUNITIES

Copley Place—Boston, Massachusetts1

Fashion Centre at Pentagon City— Arlington (Metro Washington, D.C.), Virginia1

Firewheel Town Center—Garland (Dallas), Texas3

The Galleria—Houston, Texas1

Lenox Square®—Atlanta, Georgia1

Northgate Mall—Seattle, Washington1

Phipps Plaza—Atlanta, Georgia2

Southdale Center—Edina (), Minnesota3

The Galleria

SELECT HOTEL OPPORTUNITIES

Del Amo Fashion Center®—Torrance (Los Angeles), California1

King of Prussia®—King of Prussia (Philadelphia), Pennsylvania1

Livingston Mall®—Livingston (Metro New York), New Jersey 1

Phipps Plaza—Atlanta, Georgia2 AC Hotels by Marriott Opening July 2016

Roosevelt Field®—Long Island (Metro New York), New York 1

Southdale Center—Edina (Minneapolis), Minnesota1

Stanford Shopping Center—Palo Alto (San Jose), California1

AC Hotels by Marriott at Phipps Plaza

1 In planning 2 Under construction 3 Now open

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Simon is a global leader in retail real estate ownership, management and development and an S&P 100 company (, NYSE:SPG).

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