NORTH BEND PREMIUM OUTLETS® THE SIMON EXPERIENCE — WHERE BRANDS & COMMUNITIES COME TOGETHER

More than real estate, we are a company of experiences. For our guests, we provide distinctive shopping, dining and entertainment. For our retailers, we offer the unique opportunity to thrive in the best retail real estate in the best markets.

From new projects and redevelopments to acquisitions and mergers, we are continuously evaluating our portfolio to enhance the Simon experience - places where people choose to shop and retailers want to be.

We deliver:

SCALE Largest global owner of retail real estate including Malls, Simon Premium Outlets® and The Mills®

QUALITY Iconic, irreplaceable properties in great locations

INVESTMENT Active portfolio management increases productivity and returns

GROWTH Core business and strategic acquisitions drive performance

EXPERIENCE Decades of expertise in development, ownership, and management That’s the advantage of leasing with Simon. PROPERTY OVERVIEW

NORTH BEND PREMIUM OUTLETS® NORTH BEND, WA

203 NORTH BEND MAJOR METROPOLITAN AREA SELECT TENANTS 405 PREMIUM OUTLETS NORTH BEND, WA Seattle: 31 miles west Banana Republic Factory Store, Carter’s Outlet, Coach Factory Store, 5 202 Cutter & Buck, Eddie Bauer Outlet, G.H. Bass & Co., Gap Factory Store, Seattle RETAIL Jockey, NikeFactoryStore, OshKosh Outlet, Reebok Outlet, Under Bellevue Armour Factory House, VF Outlet, Volcom, Zumiez 90 GLA (sq. ft.) 224,000; 50 stores Renton Exit 31 North Bend TOURISM / TRAFFIC OPENING DATES 90 The center is located in a region with economic diversity and stability. Opened 1990 Microsoft and other high-tech industries are the economic drivers of 18 one of the fastest growing regions in the United States. Within a 60-mile 169 Expanded 1995 Tacoma radius of the center the population count is 3.5 million, with 50% earning $50,000 or more. PARKING RATIO

5.6:1 LOCATION / DIRECTIONS

461 South Fork Avenue SW, North Bend, WA 98045 RADIUS POPULATION

15 mile population: 179,759 ­­— East or West on I-90: Take Exit 31, North Bend Premium Outlets is 30 mile population: 2,116,730 located at the exit interchange, on the north side of the highway. 45 mile population: 3,731,806

AVERAGE HH INCOME

30 mile average: $92,059

Information accurate as of 5/1/15. Sources: SPG Research; trade area demographic information per Pitney Bowes MapInfo (2014). SITE AND PLAN

I-90 W. RIBARY WAY

To Seattle I-90 S.W. MT. SI BLVD.

SR 202 / N. BEND BLVD. N.

NORT S. FORK AVE. S.W. H

N I-90 TO SEATTLE

SR 202 / N. BEND BLVD. N. SURROUNDING AREA CENTERS

Lake Ketchum Oso Swede Heaven Northwest Stanwood Darrington Sunday Lake Coupeville Silvana Arlington Heights SURROUNDING AREA CENTERS Arlington Warm Beach Sisco Heights Simon Centers Canyon Creek Port Townsend North Marysville Verlot Competition 13Marysville Granite Falls Marrowstone Lake Cassidy Lake Bosworth Port Hadlock-Irondale Langley Freeland 1 North Bend Premium Outlets Blyn Hat Island Machias Cavalero Lake Roesiger 2 Alderwood Mall Clinton Bunk Foss 3 The Bellevue Collection Everett Snohomish Hansville 4 The Commons at Federal Way Port Ludlow Mukilteo 5 Woods Creek Eastmont5 Chain Lake 5 Everett Mall Picnic Point Mill Creek Monroe North North Sultan Startup Monroe Port Gamble Tribal Meadowdale Cathcart Sultan May Creek 6 Kent Station Quilcene Comunity 2 Clearview Lofall Alderwood2 Manor Index 7 Kitsap Mall High Bridge Kingston Brier Shoreline 8 Lakewood Towne Center Woodinville Baring Indianola Lake Forest Park 9 Northgate Mall Bangor Base Poulsbo Kenmore Kingsgate Duvall Suquamish 10 The Outlet Collection Inglewood-Finn Hill Lake Marcel-Stillwater Skykomish Keyport 9 Redmond Brinnon Kirkland Union Hill-Novelty Hill 11 Pacific Place Silverdale 12 7 1717 Ames Lake 12 Redmond Town Center Seabeck 7 Bainbridge Island Hunts Point Carnation Chico Tracyton Clyde Hill 13 Seattle Premium Outlets 19Seattle1911 11 3314 14 Sammamish Rocky Point Beaux Arts Village Fall City Leavenworth 14 The Shops at The Bravern Mercer Island Klahanie Navy Yard City Manchester Issaquah 15 South Hill Mall Newcastle Gorst Parkwood Snoqualmie Boulevard Park Tanner Cas 16 Tacoma Mall Southworth Riverton Bethel Tukwila 17 University Village Mirrormont 1 North Bend 18 Fairwood Belfair Normandy Park 18Maple Heights-Lake Desire Wilderness Rim 18 Westfield Southcenter SeaTac Burley Vashon East Hill-Meridian Hobart 19 Westlake Center Shadow Lake 15 MILESSnoqualmie Pass Allyn Stansberry Lake Des Moines6 Kent 6 Covington Vaughn Rosedale Ravensdale Grapeview Raft Island Dash Point Lakeland North Black Diamond 44 Auburn 30 MILES Artondale Ruston Tacoma 10 Home 10 Federal Way Lake Holm Herron Island Wollochet Milton Roslyn 45 MILES Fox Island Easton Fircrest Fife Ronald Longbranch Sumner Lake Tapps 16 Waller Cle Elum 16 North Puyallup Enumclaw Steilacoom South Cle Elum Midland Alderton Buckley Ketron Island 8 Summit15 8 15 Greenwater McChord AFB McMillin South Prairie DuPont Fort Lewis Orting Wilkeson Spanaway Carbonado Crocker Thorp Olympia Tanglewilde Elk Plain Graham

Nisqually Indian South Creek Ellensburg Tumwater Community Kapowsin North Yelm

Yelm McKenna Clear Lake

Rainier Eatonville Tenino Nile ter La Grande nd Mound Bucoda Alder Elbe rds Prairie Ashford OTHER RETAIL

SHOPPING CENTERS GROSS LEASABLE AREA ANCHORS DISTANCE / DRIVE-TIME

The Bellevue Collection 1,300,000 sf JCPenney, Macy’s, Nordstrom 25 miles / 30 minutes Bellevue, WA

Redmond Town Center 674,000 sf Macy’s 25 miles / 35 minutes Redmond, WA

Westfield Southcenter 1,700,000 sf JCPenney, Macy’s, Nordstrom, Sears 30 miles / 30 minutes Seattle, WA

Northgate Mall Nordstrom, Nordstrom Rack, Macy’s, 1,048,000 sf 30 miles / 30 minutes Seattle, WA JCPenney

The Commons at Federal Way 736,000 sf Macy’s, Sears, Target 35 miles / 45 minutes Federal Way, WA

South Hill Mall 1,035,000 sf JCPenney, Macy’s, Sears, Target 40 miles / 55 minutes Puyallup, WA

Alderwood Mall 1,051,000 sf JCPenney, Macy’s, Nordstrom, Sears 45 miles / 50 minutes Lynnwood, WA

OUTLET SHOPPING GROSS LEASABLE AREA ANCHORS DISTANCE / DRIVE-TIME

The Outlet Collection Sam’s Club, Nordstrom Rack, Sports 928,000 sf 30 miles / 35 minutes Auburn, WA Authority, Marshalls, Bed Bath & Beyond

Seattle Premium Outlets® 555,000 sf 60 miles / 1 hour 8 minutes Tulalip, WA

Outlet Shoppes at Burlington 175,000 sf 90 miles / 1 hour 35 minutes Burlington, WA

Centralia Factory Outlets 204,000 sf 90 miles / 1 hour 45 minutes Centralia, WA 60 Columbia Road Building B 3rd Floor Morristown, NJ 07960 (973) 228-6111 premiumoutlets.com

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