Simon 2021 Annual Report

Exchange of limited partner units (293,204 common shares, Note 8) . . . . . . . . . . . . . 2,028 (2,028) — Issuance of limited partner units (955,705 units) . . . . . . . . . . . . . . . . . . . . . . . . . . . 79,601 79,601 Public offering of common stock (22,137,500 common shares) . . . . . . . . . . . . . . . . . 2 1,556,477 — 1,556,479 Series J preferred stock premium amortization. . . . . . . . . . . . . . . . . . . . . . . . . . . . (329) (329) Stock incentive program (462,967 common shares, net) . . . . . . . . . . . . . . . . . . . . . (35,662) 35,662 — Redemption of limited partner units (116,658 units). . . . . . . . . . . . . . . . . . . . . . . . . (15,163) (943) (16,106) Amortization of stock incentive . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11,660 11,660 Treasury stock purchase (1,245,654 shares) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (152,590) (152,590) Long-term incentive performance units . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,331 2,331 Issuance of unit equivalents and other (15,561 common shares repurchased) . . . . . . . 30 34,894 (853) (3,582) 30,489 Unrealized loss on hedging activities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (92,834) (13,714) (106,548) Currency translation adjustments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22,694 4,594 27,288 Changes in available-for-sale securities and other . . . . . . . . . . . . . . . . . . . . . . . . 162 18 180 Net gain reclassified from accumulated other comprehensive loss into earnings . . . . (93) (13) (106) Other comprehensive income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (70,071) (9,115) (79,186) Adjustment to limited partners' interest from change in ownership in the Operating Partnership . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (95,755) 95,755 — Distributions to common stockholders and limited partners, excluding Operating Partnership preferred interests . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,869,820) (279,379) (2,149,199) Distribution to other noncontrolling interest partners . . . . . . . . . . . . . . . . . . . . . . . . (3,507) (3,507) Net income, excluding $1,915 attributable to preferred interests in the Operating Partnership and a $6,044 loss attributable to noncontrolling redeemable interests in properties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,112,564 168,889 1,281,453 Balance at December 31, 2020 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 42,091 $ 34 $ (188,675) $ 11,179,688 $ (6,102,314) $ (1,891,352) $ 432,874 $ 3,472,346

Accumulated Other Comprehensive Capital in Common Stock Preferred Common Income Excess of Par Accumulated Held in Noncontrolling Total Stock Stock (Loss) Value Deficit Treasury Interests Equity Balance at December 31, 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 42,748 $ 32 $ (126,017) $ 9,700,418 $ (4,893,069) $ (1,427,431) $ 500,275 $ 3,796,956 Exchange of limited partner units (24,000 common shares, Note 8) . . . . . . . . . . . . . . 253 (253) — Series J preferred stock premium amortization. . . . . . . . . . . . . . . . . . . . . . . . . . . . (328) (328) Stock incentive program (90,902 common shares, net) . . . . . . . . . . . . . . . . . . . . . . (16,589) 16,589 — Redemption of limited partner units (43,255 units) . . . . . . . . . . . . . . . . . . . . . . . . . (6,453) (393) (6,846)

Amortization of stock incentive . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,604 12,604 Treasury stock purchase (2,247,074 shares) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (359,773) (359,773) Long-term incentive performance units . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20,749 20,749 Issuance of unit equivalents and other (16,336 common shares repurchased) . . . . . . . 19 (29,523) (2,956) 139 (32,321) Unrealized gain on hedging activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (3,553) (513) (4,066) Currency translation adjustments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,489) (361) (1,850) Changes in available-for-sale securities and other . . . . . . . . . . . . . . . . . . . . . . . . 623 95 718 Net loss reclassified from accumulated other comprehensive loss into earnings . . . . 11,832 1,802 13,634 Other comprehensive income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,413 1,023 8,436 Adjustment to limited partners' interest from change in ownership in the Operating Partnership . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65,821 (65,821) — Distributions to common stockholders and limited partners, excluding Operating Partnership preferred interests . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2,558,944) (388,541) (2,947,485) Distribution to other noncontrolling interest partners . . . . . . . . . . . . . . . . . . . . . . . . (2,446) (2,446) Net income, excluding $1,915 attributable to preferred interests in the Operating Partnership and a $431 loss attributable to noncontrolling redeemable interests in properties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,101,584 320,120 2,421,704 Balance at December 31, 2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 42,420 $ 32 $ (118,604) $ 9,756,073 $ (5,379,952) $ (1,773,571) $ 384,852 $ 2,911,250

Simon Property Group, Inc. Consolidated Statements of Equity (Dollars in thousands)

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