CHARLOTTE 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

CHARLOTTE PREMIUM OUTLETS® JOINT VENTURE WITH TANGER OUTLETS

CHARLOTTE, NC

MAJOR METROPOLITAN AREAS SELECT TENANTS

Charlotte: 8 miles Saks Fifth Avenue OFF 5TH, American Eagle Outfitters, Banana Republic Winston Salem: 80 miles Factory Store, Brooks Brothers Factory Store, Coach Factory Store, Gap 85 Gastonia Factory Store, kate spade new york, LOFT Outlet, Michael Kors Outlet, Charlotte NikeFactoryStore, Old Navy Outlet, Under Armour Factory House Charlotte/ RETAIL Douglas NC Int’l Airport GLA (sq. ft.) 400,000; 100 stores TOURISM / TRAFFIC SC

OPENING DATES The Charlotte metro area attracts over 18 million visitors annually. Travel expenditures by Charlotte visitors total over $4 billion annually, and 77 Opened July 31, 2014 air traffic at Charlotte/Douglas International Airport makes it the sixth busiest airport in the U.S. There are over 30,000 hotel rooms in Charlotte and 40% of travelers to Charlotte have annual household incomes of PARKING RATIO $80,000 and higher. CHARLOTTE 5.5:1 PREMIUM OUTLETS MAJOR ATTRACTIONS CHARLOTTE, NC RADIUS POPULATION Area attractions include the NASCAR Hall of Fame, the EpiCentre, 15 mile population: 1,039,037 The Discovery Place Museum, Carolinas Aviation Museum, Daniel Stowe 30 mile population: 2,021,022 Botanical Garden, Carowinds Amusement Park and the Belk Theater. 45 mile population: 2,637,397 LOCATION / DIRECTIONS AVERAGE HH INCOME Located southeast of Charlotte Center City at the interchange of I-485 30 mile average: $76,717 and Steele Creek Rd. (SR 160) between I-85 & I-77, the two major thoroughfares for the city.

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

I-485

SHOPTON RD.

NEW FASHION WAY

OUTLETS BLVD.

NEW DIXIE RIVER RD.

NORTH

East Aerial View SOUTH TO I 77

NORTH TO I 85 I-485

EXIT 4

STEELE CREEK RD.

FUTURE DEVELOPMENT

SHOPTON RD.

FUTURE DEVELOPMENT

NEW DIXIE RIVER RD.

N SURROUNDING AREA CENTERS

Thomasville Stony Point Cajah's Mountain

Bethlehem Sawmills Cooleemee Lexington Tyro Lenoir 15 Hickory Statesville Glen Alpine St Stephens SURROUNDING AREA CENTERS Drexel Connelly Springs Morganton Long View Cleveland 85 Claremont ■ Simon Center arion Salem Brookford17 Catawba 18 Troutman 14 Mountain View 14 East Spencer As ■ Competition Newton Salisbury Southmont 77 Denton 1 Charlotte Premium Outlets Lake Norman of Catawba Granite Quarry Faith 2 Birkdale Village Mooresville China Grove 3 Blakeney Shopping Center Maiden Rockwell Landis 4 Denver Enochville Casar Westport Davidson 5 Misenheimer Belwood Lincolnton Cornelius 6 Cleveland Mall Kannapolis Iron Station 2 7 2 4 New London Lowesville Polkville 8 Ga­ney Premium Outlets Lawndale Badin High Shoals Huntersville Dellview Concord 9 uth Millingport 7 Bostic Kingstown Waco Stanley 7 Albemarle 10 Northlake Mall pindale 10 Forest City Ellenboro 11 Phillips Place Dallas Lattimore Ranlo Mount Holly485 Harrisburg 74 Bessemer City 12 Promenade on Providence Caroleen Kings Mountain 601 13 6 1918 McAdenville Locust Red Cross Henrietta Boiling Springs Shelby Gastonia 14 Salisbury Mall Patterson Springs Cramerton Stan‹eld Mount Gilead Oakboro Aquadale Midland 52 15 Earl Charlotte 485 Grover 16 SouthPark 1 Mint Hill Chesnee 16 Fairview 11 17 Stonecrest at Piper Glenn Blacksburg 11 Matthews Clover 18 Valley Hills Mall 85 Ansonville Lake Wylie 19 Westˆeld Eastridge Mayo 8 East GaŽney Pineville5 Lake Park 8 5 Unionville 16 Weddington12 Smyrna 17 15 MILES Tega Cay 3 Cowpens 3 alls Monroe Riverview 9 York 9 Peachland Converse Marvin Marshville ps Hickory Grove 321 Newport Wingate n Wadesboro Liles Sharon Glendale Rock Hill 1313 Mineral Springs Central Pacolet uck Lesslie 30 MILES McConnells Jaars Morve

Jonesville McF Lowrys Lockhart Pageland Mount Croghan Ruby Chester‹eld Lancaster BuŽalo Monarch Mill Richburg 45 MILES Gayle Mill Fort Lawn Irwin 521Elgin ee Cross Anchor 21 JeŽerson 77

Heath Springs Carlisle Great Falls Patrick

Kershaw s Whitmire Clinton McBee OTHER RETAIL

SHOPPING CENTERS GROSS LEASABLE AREA ANCHORS DISTANCE / DRIVE-TIME

Carolina Place Mall 1,300,000 sf Belk, Dillard’s, JCPenney, Macy’s, Sears 9 miles / 23 minutes Pineville, NC

SouthPark Neiman Marcus, Nordstrom, Belk, 1,681,000 sf 11 miles / 17 minutes Charlotte, NC Dillard’s, Macy’s

Eastridge Shopping Place 876,000 sf Belk, Dillard’s, JCPenney, Sears 16 miles / 20 minutes Gastonia, NC

Northlake Mall Dick’s Sporting Goods, Dillard’s, 1,071,000 sf 17 miles / 19 minutes Charlotte, NC Macy’s, Pottery Barn

OUTLET SHOPPING GROSS LEASABLE AREA ANCHORS DISTANCE / DRIVE-TIME

Concord Mills ® 1,344,000 sf Saks Fifth Avenue OFF 5TH 25 miles / 28 minutes Concord, NC

Gaffney Premium Outlets® 360,000 sf 53 miles / 52 minutes Gaffney, SC 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).