CALHOUN 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

CALHOUN PREMIUM OUTLETS® CALHOUN, GA CALHOUN PREMIUM OUTLETS CALHOUN, GA MAJOR METROPOLITAN AREAS SELECT TENANTS Chattanooga TN Dalton GA Chattanooga, TN: 50 miles American Eagle Outfitters, Ann Taylor Factory Store, Carter’s Outlet, From SC : 68 miles The Children’s Place Outlet, Christopher & Banks, Coach, Gap Factory Store, Gymboree Outlet, Jones New York, LOFT Outlet, NikeFactoryStore, 85 RETAIL Old Navy Outlet, OshKosh B’gosh, Polo Ralph Lauren Factory Store, SKECHERS USA Outlet Store, Tommy Hilfiger Company Store 53 GLA (sq. ft.) 254,000; 50 stores 75 TOURISM / TRAFFIC OPENING DATES Atlanta 285 Calhoun Premium Outlets is located 68 miles north of Atlanta, , 20 Opened October 1992 and 50 miles south of Chattanooga, Tennessee, two of the largest AL 85 From Florida southeastern U.S. cities. This location features a strong population base of over 4.4 million people within a 60-mile radius. PARKING RATIO

5.5:1 MAJOR ATTRACTIONS

Resaca Civil War Grounds, Fields Ferry Golf Course and Calhoun RADIUS POPULATION Gordon Arts Center 15 mile population: 91,763 30 mile population: 564,087 LOCATION / DIRECTIONS 45 mile population: 1,907,579 I-75 (Exit 312) to Outlet Center Drive, Calhoun, Georgia. Calhoun Premium Outlets has strong visibility on I-75 and boasts a traffic count AVERAGE HH INCOME of 61,000 vehicles passing the center daily with four million visitors 30 mile average: $63,103 annually. — From Chattanooga: Take I-75S to Exit 312 and turn left off of exit ramp. Turn right onto Outlet Center Drive. — From Atlanta: Take I-75N to Exit 312 and turn right off of exit ramp. Turn right onto Outlet Center Drive.

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

BELWOOD RD.

I-75

NORTH BELWOOD RD.

I-75 SURROUNDING AREA CENTERS

Signal Mountain East Cleveland Harrison Red Bank South Cleveland Murphy Ooltewah Jasper Kimball Collegedale SURROUNDING AREA CENTERS 24 Ridgeside 101510 Ducktown Apison Orme South Pittsburg ■ Simon Centers Lookout Mountain East Ridge Copperhill Lakeview McCaysville ■ Competition Indian Springs Bridgeport Cohutta Epworth

Fort Oglethorpe Ringgold Mineral Blu 1 Calhoun Premium Outlets Varnell 2 Avalon Trenton Chickamauga Morganton 76 Blairsville Tunnel Hill 3 The Avenue East Cobb nson Eton 45 MILES 4 The Avenue West Cobb 5 Cherry Log Chatsworth 6 The Collection at Forsyth 12Dalton 2315 1512 7 Cumberland Mall LaFayette 30 MILES 8 The Forum at Peachtree Parkway Ider 59 9 Gwinnett Place East Ellijay 10 Hamilton Place Mall Henagar 75 27 11 12 Market Street Shops Dalton Resaca 15 MILES ylvania Mentone 13 Mount Berry Square Valley Head Trion 14 North Georgia Premium Outlets Talking Rock Dahlonega Calhoun 15 ville Ranger Menlo Summerville 16 Fort Payne 1 Pine Ridge 411 17 The Outlet Shoppes at Atlanta 19 Dawsonville 18 Lyerly Plainville Nelson 19 Broomtown Adairsville 1414 20 Shannon Ball Ground Gain 21 Waleska 1513 41 22 Town Center at Cobb White Rome 23 Walnut Square Mall Sand Rock Gaylesville ville Canton Kingston Oak 575 Cumming Lindale 411 Leesburg Cedar Blu Cartersville 66 Flowery Br Centre Holly Springs Euharlee Rest Haven Emerson Milton Cave Spring Woodstock Sugar Hill Br Mountain Park Taylorsville 17 Alpharetta2 Acworth Suwanee 985 Aragon Roswell 15 15 Johns Creek Ballplay Kennesaw Cedartown 2222 Rockmart Duluth Sandy Springs Braswell 33 Berkeley8 Lake 21 Dac Piedmont 9 Lawrenceville 44 Marietta Dunwoody Norcross 9 278 Fair Oaks 18 Dallas 285 85 Chamblee Lilburn Grayson Hiram 7 Nances Creek Edwardsville Vinings 19 20 20 Tucker Snellville North1911 Atlanta 16 Loganvi 55 11 Jacksonville Clarkston Buchanan Lithia Springs Pine Lake Avondale Estates Weaver White Plains Atlanta OTHER RETAIL

SHOPPING CENTERS GROSS LEASABLE AREA ANCHORS DISTANCE / DRIVE-TIME

Walnut Square Mall 450,000 sf , JCPenney, Sears, 23 miles / 26 minutes Dalton, GA

Mount Berry Square 478,000 sf Belk, JCPenney, Sears, Dunham’s Sports 24 miles / 26 minutes Rome, GA

The Avenue West Cobb 205,000 sf Barnes & Noble, Gap 44miles / 53 minutes Marietta, GA

Town Center at Cobb 1,281,000 sf Belk, Macy’s, JCPenney, Sears 45miles / 45 minutes Kennesaw, GA

Hamilton Place Mall Belk, Dillard’s, JCPenney, Sears, 1,145,000 sf 50 miles / 48 minutes Chattanooga, TN Forever 21

OUTLET SHOPPING GROSS LEASABLE AREA ANCHORS DISTANCE / DRIVE-TIME

Market Street Shops - Dalton 173,000 sf 23 miles / 24 minutes Dalton, GA

The Outlet Shoppes at Atlanta 370,000 sf Saks Fifth Avenue OFF 5TH 53 miles / 55 minutes Woodstock, GA

North Georgia Premium Outlets® 540,000 sf Saks Fifth Avenue OFF 5TH 63 miles / 1 hour 30 minutes Dawsonville, GA

Tanger Outlets - Commerce 528,000 sf VF Outlet, H&M 108 miles / 2 hours 15 minutes Commerce, GA 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 (, NYSE:SPG).