DESERT HILLS 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

DESERT HILLS PREMIUM OUTLETS® CABAZON, CA

MAJOR METROPOLITAN AREAS SELECT TENANTS

Palm Springs: 18 miles east Neiman Marcus Last Call, Saks Fifth Avenue OFF 5TH, Armani DESERT HILLS Los Angeles: 75 miles west Outlet, Barneys New York Warehouse, Bottega Venetta, Brunello 15 PREMIUM OUTLETS Cucinelli, Burberry, Coach, Diane von Furstenberg, Diesel, Dolce & Los Angeles San Bernardino CABAZON, CA RETAIL Gabbana, Elie Tahari Outlet, Ermenegildo Zegna Outlet Store, Furla, Gucci, Helmut Lang, HUGO BOSS Factory Store, James Perse, Malki Rd. Jimmy Choo, kate spade new york, Kenneth Cole Company Store, 60 GLA (sq. ft.) 651,000; 180 stores Cabazon 10 Morongo Indian Casino LACOSTE Outlet, Loro Piana, Marni, Michael Kors Outlet, Mulberry, 15 215 NikeFactoryStore, Polo Ralph Lauren Factory Store, Prada, Saint Laurent Riverside Paris, Salvatore Ferragamo Company Store, Theory Outlet, Tod’s, Tory 111 OPENING DATES Burch, Tourneau, True Religion, Versace

Opened July 1990 Palm Springs Expanded May 1995, 1997, 2002, TOURISM / TRAFFIC San Diego 2014 Multi-level parking structure More than 77,000 vehicles travel daily on I-10 past the center.

PARKING RATIO MAJOR ATTRACTIONS

5.42:1 3.5 million travelers visit Palm Springs, Palm Desert, Indio and Rancho Mirage resorts and hotels annually. RADIUS POPULATION LOCATION / DIRECTIONS 15 miles 216,438 30 miles 1,418,136 On I-10, 18 miles west of Palm Springs and 75 miles east of 45 miles 3,462,232 Los Angeles, California.

AVERAGE HH INCOME — From Los Angeles: I-10E to Malki Road Exit, turn left at the end of the ramp and right onto Seminole, 1/4 mile to entrance on left 30 mile radius $72,183 — From Palm Springs: Highway 111N to I-10 to Malki Road, follow billboards to entrance

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

SEMINOLE DRIVE

LOS ANGELES INTERSTATE 10 PALM SPRINGS

H NORT FOUR-LEVEL PARKING DECK

LOS ANGELES INTERSTATE 10 PALM SPRINGS SURROUNDING AREA CENTERS

SURROUNDING AREA CENTERS Simon Centers ke Los Angeles Adelanto Competition

Victorville Apple Valley 1 Desert Hills Premium Outlets® Mountain View Acres 2 Cabazon Oulets 7 45 MILES Piñon Hills Phelan Lucerne Valley 3 Galleria at Tyler

Hesperia 4 The Gardens on El Paseo Oak Hills 5 Inland Center Mall Wrightwood 6 Lake Elsinore Outlets

30 MILES 7 The Mall of Victor Valley Lake Arrowhead Big Bear City Homestead Valley 8 Moreno Valley Mall Lytle Creek Crestline Big Bear Lake 9 Ontario Mills Running Springs 10 The Promenade in Temecula Twentynine Palms San Antonio Heights Muscoy San Bernardino 11 The Promenade Shops zusa Yucca Valley at Dos Lagos La Verne trus Upland Rancho Cucamonga Joshua Tree 12 Rialto Highland 15 MILES San Dimas Fontana 12 Victoria Gardens vina 5 Montclair 9 5 Morongo Valley 9 Bloomington Loma Linda Mentone 13 Westfield Palm Desert Walnut Pomona Ontario Redlands Oak Glen Crestmore Heights Yucaipa ose Hills Rubidoux Highgrove Calimesa Chino Eastvale Cherry Valley Banning ts Pedley Desert Hot Springs Chino Hills Riverside 8 2 Whitewater Brea Norco Moreno Valley 2 Desert Edge 3 Home Gardens Woodcrest Beaumont 1 Cabazon Garnet Sky Valley Placentia March ARB Coronita El Sobrante Anaheim Corona El Cerrito Mead Valley Indio Hills Lake Mathews Lakeview Cathedral City Thousand Palms Villa Park 11 Orange Nuevo San Jacinto Good Hope Rancho MirageDesert Palms North Tustin Temescal Valley Romoland Idyllwild-Pine Cove Bermuda Dunes a Ana Tustin Meadowbrook Green Acres East Hemet 13 Mountain Center 134 Indio ey Warm66 Springs Winchester Indian4 Wells Irvine Menifee Coachella Canyon Lake esa Lake Forest La Quinta Lakeland Village h Rancho Santa Margarita Thermal Wildomar Laguna Woods Vista Santa Rosa Murrieta French Valley Laguna Hills Las Flores Anza Mecca Laguna BeachLadera Ranch 10 10 Lake Riverside Oasis North Shore San Juan Capistrano Temecula Dana Point Aguanga San Clemente

Rainbow Desert Shores Salton Sea Beach Fallbrook Bombay Camp Pendleton North Salton City Bonsall Borrego Springs Valley Center Camp Pendleton South Hidden Meadows

Vista

Escondido OTHER RETAIL

SHOPPING CENTERS GROSS LEASABLE AREA ANCHORS DISTANCE / DRIVE-TIME

Moreno Valley Mall at Towngate 1,035,000 sf JCPenney, Macy’s, Sears 22 miles / 25 minutes Moreno Valley, CA

The Gardens on El Paseo 200,000 sf Saks Fifth Avenue 35 miles / 40 minutes El Paseo, CA

Westfield Palm Desert 1,000,000 sf JCPenney, Macy’s, Sears 35 miles / 40 minutes Palm Desert, CA

Inland Center Mall 1,000,000 sf Macy’s, Sears 35 miles / 50 minutes San Bernardino, CA

Galleria at Tyler 1,104,000 sf JCPenney, Macy’s, Nordstrom 40 miles / 45 minutes Riverside, CA

Ontario Mills® Neiman Marcus Last Call, Nordstrom 1,471,000 sf 50 miles / 50 minutes Ontario, CA Rack, Saks Fifth Avenue OFF 5TH

The Promenade in Temecula 1,050,000 sf JCPenney, Macy’s, Sears 50 miles / 50 minutes Temecula, CA

Montclair Plaza JCPenney, Macy’s, Nordstrom, 1,200,000 sf 55 miles / 55 minutes Montclair, CA Sears

Victoria Gardens 1,160,000 sf JCPenney, Macy’s 55 miles / 55 minutes Rancho Cucamonga, CA

OUTLET SHOPPING GROSS LEASABLE AREA DISTANCE / DRIVE-TIME

Cabazon Outlets 65,000 sf 1/2 mile / 1 minute Cabazon, CA

Lake Elsinore Outlets 318,000 sf 65 miles / 1 hour Lake Elsinore, CA

Carlsbad Premium Outlets® 289,000 sf 85 miles / 1 hour 36 minutes Carlsbad, CA

Tanger Outlet Center 109,000 sf 90 miles / 1 hour 40 minutes Barstow, CA 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).