VACAVILLE 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

VACAVILLE PREMIUM OUTLETS® VACAVILLE, CA

MAJOR METROPOLITAN AREAS SELECT TENANTS

Sacramento: 32 miles adidas, Ann Taylor Factory Store, Banana Republic Factory Store, : 50 miles BCBGMAXAZRIA, Calvin Klein Company Store, Coach, Cole Haan Outlet, Gap Factory Store, Gucci, GUESS Factory Store, J.Crew Factory, RETAIL Kenneth Cole Company Store, LACOSTE Outlet, Levi’s Outlet Store, The Merrell Store, Michael Kors Outlet, NikeFactoryStore, Polo Ralph GLA (sq. ft.) 437,000; 120 stores Lauren Factory Store, Reebok, Restoration Hardware, Tommy Bahama, Tommy Hilfiger Company Store, True Religion, Tumi OPENING DATES TOURISM / TRAFFIC Opened July 1998 Expanded 1991, 1992 The center’s trade area consists of nearly nine million customers within VACAVILLE a 75-mile radius. The primary market consists of approximately 375,000 PREMIUM OUTLETS residents in Solano County. Secondary markets are Sacramento, Contra PARKING RATIO VACAVILLE, CA Costa County and the Bay Area as well as area visitors driving along 5.1:1 I-80 westbound to San Francisco or eastbound to Sacramento and Lake Tahoe. More than 175,000 vehicles travel past the center daily. RADIUS POPULATION LOCATION / DIRECTIONS 15 mile population: 269,011 30 mile population: 1,657,540 321 Nut Tree Road, Vacaville, CA 95687 45 mile population: 4,888,144 ­­— From San Francisco: I-80E to Nut Tree Parkway Exit, stay straight on Nut Tree Pkwy., center is on the right AVERAGE HH INCOME

30 mile average: $84,013 — From Sacramento: I-80W to Monte Vista Exit. Turn right onto Monte Vista, follow to stop sign, go left up and over I-80 and center is across the road

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

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Upper Lake Sutter Marysville Williams Meridian Nice Yuba City Linda Alta Sierra North Lakeport Beale AFB Colfax Lucerne Spring Valley Grimes Olivehurst SURROUNDING AREA CENTERS

Lakeport Clearlake Oaks Lake of the Pines College City Simon Centers Arbuckle Soda Bay Wheatland Meadow Vista Fo Plumas Lake Competition Sheridan Kelseyville Clearlake Rio Oso Clearlake Riviera North Auburn East Nicolaus Trowbridge Lower Lake Geor 1 Vacaville Premium Outlets® Nicolaus Auburn Dunnigan Lincoln 45 MILES Auburn Lake 2 Mall Robbins Newcastle Penryn 3 Cobb Guinda Rocklin Loomis 4 Blackhawk Plaza Cloverdale Hidden Valley Lake Knights Landing Coloma 5 Broadway Plaza Roseville Granite Bay Middletown Cold Spri Yolo Elverta 6 Geyserville 30 MILES Antelope Esparto Rio Linda Citrus Heights Diamond Spring 7 Mall Foothill FarmsOrangevale Madison Woodland Folsom McClellan Park 2320 Shingle Springs 8 Folsom Premium Outlets Monument Hills Fair Oaks 8 2724 9 Hilltop Mall Healdsburg Carmichael Gold River 22 77 10 The Mall at Northgate Calistoga Angwin 13 Rancho Cordova Davis West Sacramento14 La Riviera 11 Montgomery Village Windsor 15 MILES University of Mather o Deer Park Winters Davis Fruitridge Pocket 12 Napa Premium Outlets Guerneville St Helena Rancho Murieta Forestville Fulton Parkway Florin 13 Petaluma Village Premium Outlets Monte Rio Rutherford Vineyard Plym 14 Sacramento Downtown Plaza 6 Dixon Freeport 6Santa Rosa Moskowite Corner Graton 14 1011 Oakville Allendale Dryto 15 San Francisco Premium Outlets Roseland Clarksburg Wilton Am Occidental 16 Kenwood Elk Grove Sebastopol Hartley Yountville Vacaville Sutter C 16 met Glen Ellen Franklin Bodega Hood Ione 17 Silverado Resort 1 Elmira n Creek Valley Ford Cotati Eldridge Courtland 18 Boyes Hot Springs Clay odega Bay Penngrove Buena Vista Sonoma Napa Herald 19 1211 Green Valley llon Beach Galt Camanche Village 12 Temelec 16 20 StoneCreek Village Tomales 13Petaluma 18Suisun City Camanche North Shore Walnut Grove 21 Stoneridge Mall Collierville Dogtown Rio Vista Wallace 22 The Streets of Brentwood American Canyon Acampo Valley Sprin Isleton Woodbridge Lockeford 23 Sunrise Mall Victor Rancho C 24 Sunvalley Mall Black Point-Green Point Vallejo Terminous Point Reyes Station Lodi 25 Town Center Corte Madera Novato Benicia Inverness Nicasio Crockett 26 The Village at Corte Madera Lucas Valley-Marinwood Port Costa Bay Point Morada Waterloo Sleepy Hollow Clyde Bethel Island Rodeo Martinez Pittsburg 17 Linden 27 The Village at Sacramento San Geronimo San9 Anselmo Bayview 17 Lincoln Village Gateway 10 Pinole Pacheco Concord 19 Oakley 181525 Fairfax 98 Antioch Stockton20 28August Peters Ross Rollingwood Alhambra Valley2421 Knightsen 28 Weberstown Mall East Richmond Heights Brentwood Kennedy Garden Acres Bolinas 26 2219 Corte2223 Madera Contra Costa Centre Farmington Kensington Discovery Bay Taft Mosswood Stinson Beach 25Alto Acalanes Ridge North Gate Saranap5 Strawberry Oakland French Camp Muir Beach Castle HillAlamo Byron Emeryville Sausalito Moraga Diablo 3 Lathrop Valley Home 3 Piedmont Blackhawk 4 Manteca Camino Tassajara Escalon E Alameda Mountain House San Francisco Oak Norris Canyon Del Rio Castro Valley San Ramon Tracy Ripon Salida Riverban Daly City Brisbane Dublin Ashland 21 15Livermore Colma Cherryland South San Francisco Pleasanton Modesto Empire San Bruno Hayward Airport OTHER RETAIL

SHOPPING CENTERS GROSS LEASABLE AREA ANCHORS DISTANCE / DRIVE-TIME

Westfield Solano 1,036,000 sf JCPenney, Macy’s, Sears 10 miles / 15 minutes Fairfield, CA

Hilltop Mall 1,070,000 sf JCPenney, Macy’s, Sears 35 miles / 40 minutes Richmond, CA

Arden Fair Mall JCPenney, Macy’s, 1,070,000 sf 45 miles / 40 minutes Sacramento, CA Nordstrom, Sears

Coddingtown Mall 823,000 sf JCPenney, Macy’s 74 miles / 1 hour 20 minutes Santa Rosa, CA

OUTLET SHOPPING GROSS LEASABLE AREA ANCHORS DISTANCE / DRIVE-TIME

Napa Premium Outlets® 179,000 sf 30 miles / 40 minutes Napa, CA

Folsom Premium Outlets® 298,000 sf 50 miles / 55 minutes Folsom, CA

Petaluma Village Premium Outlets® 196,000 sf Saks Fifth Avenue OFF 5TH 53 miles / 1 hour 6 minutes Petaluma, CA

San Francisco Premium Outlets® 512,000 sf Neiman Marcus Last Call, Phase 2 Opening 2015 64 miles / 1 hour 1 minute 185,000 sf Saks Fifth Avenue OFF 5TH Livermore, CA

Great Mall® Neiman Marcus Last Call, 1,366,000 sf 81 miles / 1 hour 20 minutes Milpitas, CA Saks Fifth Avenue OFF 5TH 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).