Simon 2021 Annual Report

Simon Property Group, L.P. Consolidated Balance Sheets (Dollars in thousands, except unit amounts)

December 31, December 31, 2021 2020

ASSETS: Investment properties, at cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 37,932,366 $ 38,050,196 Less — accumulated depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15,621,127 14,891,937 22,311,239 23,158,259 Cash and cash equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 533,936 1,011,613 Tenant receivables and accrued revenue, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 919,654 1,236,734 Investment in TRG, at equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,305,102 3,451,897 Investment in Klépierre, at equity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,661,943 1,729,690 Investment in other unconsolidated entities, at equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,075,375 2,603,571 Right-of-use assets, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 504,119 512,914 Investments held in trust - special purpose acquisition company. . . . . . . . . . . . . . . . . . . . . 345,000 — Deferred costs and other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,121,011 1,082,168 Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 33,777,379 $ 34,786,846 LIABILITIES: Mortgages and unsecured indebtedness . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 25,321,022 $ 26,723,361 Accounts payable, accrued expenses, intangibles, and deferred revenues . . . . . . . . . . . . . 1,433,216 1,311,925 Cash distributions and losses in unconsolidated entities, at equity . . . . . . . . . . . . . . . . . . . 1,573,105 1,577,393 Distribution payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,468 486,922 Lease liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 506,931 515,492 Other liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 540,912 513,515 Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29,376,654 31,128,608 Commitments and contingencies Preferred units, various series, at liquidation value, and noncontrolling redeemable interests. . . 547,740 185,892 EQUITY: Partners’ Equity Preferred units, 796,948 units outstanding. Liquidation value of $39,847 . . . . . . . . . . . . . . 41,763 42,091 General Partner, 328,619,625 and 328,501,416 units outstanding, respectively . . . . . . . . . 3,319,689 2,997,381 Limited Partners, 47,247,936 and 47,322,212 units outstanding, respectively. . . . . . . . . . . 477,292 431,784 Total partners’ equity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,838,744 3,471,256 Nonredeemable noncontrolling interests in properties, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14,241 1,090 Total equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,852,985 3,472,346 Total liabilities and equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 33,777,379 $ 34,786,846 The accompanying notes are an integral part of these statements.

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