PLEASANT PRAIRIE 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

® Shorewood PLEASANT PRAIRIE PREMIUM OUTLETS Madison 94 18 Milwaukee PLEASANT PRAIRIE, WI Fort Atkinson 94 Oak Creek 12 PLEASANTLake PRAIRIE43 Geneva 14 PREMIUM OUTLETS Racine MAJOR METROPOLITAN AREAS SELECT TENANTS PLEASANT PRAIRIE, WI 41 Kenosha Chicago, IL: 60 miles Ann Taylor Factory Store, Arc’teryx I Salomon, Banana Republic Factory Milwaukee: 35 miles Store, Brooks Brothers Factory Store, Calvin Klein Company Store, Lake Michigan WI Beloit Coach Factory Store, Cole Haan Outlet, Express Factory Outlet, Gap Rockford IL 14 North RETAIL Factory Store, HUGO BOSS Factory Store, J.Crew Factory, kate spade new Chicago york, LACOSTE Outlet, Michael Kors Outlet, NikeFactoryStore, The North 90 Woodstock 94 GLA (sq. ft.) 403,000; 90 stores Face, Polo Ralph Lauren Factory Store, UGG® Australia, Under Armour 51 41 Factory House Evanston 39 20 OPENING DATES 94 29 TOURISM / TRAFFIC Wheaton Rochelle 80 Opened 1988 Chicago Expanded 2006 Pleasant Prairie is an outlet shopping destination that is well established throughout Illinois and Wisconsin. Its prominent position on I-94 brings an average traffic count of 80,000 vehicles passing the center daily. PARKING RATIO More than 50% of shoppers live in the Chicago/Milwaukee market. 5:1 MAJOR ATTRACTIONS

RADIUS POPULATION Jelly Belly Visitor’s Center, Six Flags Great America 15 mile population: 592,891 30 mile population: 1,784,616 LOCATION / DIRECTIONS 45 mile population: 5,936,707 Pleasant Prairie is conveniently located between Chicago, Illinois and Milwaukee, Wisconsin on I-94 at Exit 347. AVERAGE HH INCOME — From Chicago: Take I-94W to Exit 347 (Hwy. 165) 30 mile average: $91,537 — From Milwaukee: Take I-94E to Exit 347 (Hwy. 165)

Information accurate as of 12/1/15. Sources: SPG Research; trade area demographic information per Pitney Bowes MapInfo (2014). SITE AND PLAN

110th AVE.

116th AVE.

From SR 165/ 104th St.

120th AVE.

120th AVE.

I-94

H Exit to SR 165/ NORT 104th St. From Metro Milwaukee I-94 SURROUNDING AREA CENTERS

Lowell Hustisford Slinger Columbus Hartford Jackson Grafton Reeseville Clyman Cedarburg Lebanon SURROUNDING AREA CENTERS Germantown Thiensville Watertown Ashippun Waterloo Milwaukee Bayside Simon Centers Marshall Competition Lannon Fox Point Lac La Belle Merton Butler Oconomowoc Lake Hartland Sussex 4 Lake Mills Nashotah Shorewood rove Johnson Creek Oconomowoc Pewaukee 1 Pleasant Prairie Premium Outlets® 1717 Elm Grove Wauwatosa 2 Algonquin Commons 5 2222 Helenville 5 West Milwaukee 3 The Arboretum of Cambridge Sullivan Waukesha Rome Wales South Barrington Rockdale New Berlin St Francis Cudahy 4 Bayshore Town Center North Prairie Hales23 Corners n Greendale Fort Atkinson South Milwaukee 5 Brookfield Square Big Bend Lake Koshkonong Palmyra Eagle Franklin 6 Charlestowne Mall Mukwonago Muskego Edgerton Whitewater Oak Creek 7 Clybourn Galleria Potter Lake Wind Lake Tichigan 8 Deer Park Town Center Lauderdale Lakes Wind Point Milton East Troy Waterford North Bay 9 Fashion Outlets Chicago Lake Lorraine 10 Glen Town Center Turtle Lake Rochester Racine Eagle Lake 11 Golf Mill Shopping Center Sturtevant20 Janesville Elkhorn Union Grove 20 e Browns Lake 45 MILES 12 Gurnee Mills nover Bohners Lake Delavan 13 Harlem Irving Plaza Como Darien 30 MILES 14 Huntley Outlet Center Williams Bay Lake Ivanhoe Kenosha Paddock Lake Clinton 15 MILES 15 Lincolnshire Commons Powers Lake Silver Lake Pleasant Prairie Beloit Walworth 16 Lincolnwood Town Center Genoa City Wilmot 1 Sharon 17 Mayfair Mall South Beloit Lake Catherine Winthrop Harbor Hebron Richmond Antioch Rockton Harvard Wadsworth 18 Northbrook Court Beach Park Roscoe Capron Chemung Pistakee Highlands Fox Lake Hills 19 Randhurst Village Greenwood hesney Park Round Lake Heights 1212 Waukegan 20 Regency Mall Caledonia Poplar Grove McCullom Lake Third Lake Park City Hainesville 21 The Shops at North Bridge Loves Park Woodstock Bull Valley Lakemoor North Chicago 22 The Shops of Grand Avenue Holiday Hills Knollwood Prairie Grove Island Lake 23 Southridge Mall go Belvidere Marengo Mundelein Cherry Valley Garden Prairie Crystal Lake Mettawa Rockford Port Barrington 28 24 Spring Hill Mall Union Indian 28Creek Lakewood Lake Barrington Highwood 25 Stratford Square Mall Fox River Grove Kildeer New Milford Riverwoods15 26 Streets of Woodfield Algonquin Barrington 8 2 Long8 Grove Northbrook18 Davis Junction Hampshire Huntley Barrington Hills Palatine 27 Water Tower Place 14 Wheeling Genoa 14West Dundee Inverness Valley Kirkland Kingston 24 28 Westfield Hawthorn Monroe Center 24East Dundee 10 Kenilworth Rolling Meadows1919 Glenview10 Pingree Grove 3 29 3 Des Plaines Golf29 Wilmette 29 Westfield Old Orchard 3030 11 Burlington 26 Park Ridge11Niles Elgin Lincolnwood 30 Woodfield Mall South Elgin Roselle 26 16 Sycamore Bartlett Rosemont 16 Schaumburg Harwood Heights Hillcrest Lily Lake Hanover Park Wood Dale99 Virgil Wayne 13 Cortland 25 Bensenville 13Norridge Creston Malta Campton Hills Dekalb St Charles6 Glendale HeightsRiver Grove 7 Maple Park 6 Elmwood Park7 Geneva Carol Stream Northlake 2727 Rochelle Elburn Oak Park 21 Lombard Batavia Elmhurst North Riverside21 Steward Wheaton Kaneville Oak Brook Broadview Warrenville Stickney Lee Prestbury North Aurora Lisle Hinsdale Forest View New Bu Waterman Hinckley Shabbona Big Rock Indian Head Park Michiana Justice Hometown OTHER RETAIL

SHOPPING CENTERS GROSS LEASABLE AREA ANCHORS DISTANCE / DRIVE-TIME

Regency Mall 885,000 sf Boston Store, Burlington 13.5 miles / 18 minutes Racine, WI

Westfield Hawthorn 1,234,000 sf Carson’s, Macy’s, JCPenney, Sears 19 miles / 25 minutes Vernon Hills, IL

Northbrook Court 1,012,000 sf Lord & Taylor, Macy’s, Neiman Marcus 26 miles / 25 minutes Northbrook, IL

Mayfair Mall Macy’s, Nordstrom (Opening Fall 2015) 1,070,000 sf 44 miles / 40 minutes Wauwatosa, WI Boston Store, AMC Theaters

OUTLET SHOPPING GROSS LEASABLE AREA ANCHORS DISTANCE / DRIVE-TIME

Gurnee Mills® Macy’s, Neiman Marcus Last Call, 1,918,000 sf 8 miles / 15 minutes Gurnee, IL Saks Fifth Avenue OFF 5TH, Burlington

Huntley Outlet Center 279,000 sf 53 miles / 1 hour 20 minutes Huntley, IL

Chicago Premium Outlets® 688,000 sf Saks Fifth Avenue OFF 5TH 75 miles / 1 hour 25 minutes Aurora, IL

Johnson Creek Premium Outlets® 276,000 sf 80 miles / 1 hour 25 minutes Johnson Creek, WI 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).