Simon 2021 Annual Report

Issuance of limited partner units (955,705 units) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 79,601 79,601 Series J preferred stock premium and amortization. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (329) (329) Limited partner units exchanged to common units (293,204 units) . . . . . . . . . . . . . . . . . . . . . . . . . . 2,028 (2,028) — Issuance of units related to Simon's public offering of its common stock (22,137,500 units) . . . . . . . . . 1,556,479 1,556,479 Stock incentive program (462,967 common units, net) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — Amortization of stock incentive . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11,660 11,660 Redemption of limited partner units (116,658 units). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (15,163) (943) (16,106) Treasury unit purchase (1,245,654 units) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (152,590) (152,590) Long-term incentive performance units . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,331 2,331 Issuance of unit equivalents and other (36,252 units and 15,561 common units). . . . . . . . . . . . . . . . . 34,071 (3,582) 30,489 Unrealized loss on hedging activities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (92,834) (13,714) (106,548) Currency translation adjustments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22,694 4,594 27,288

Balance at December 31, 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 42,748 $ 3,253,933 $ 492,877 $ 7,398 $ 3,796,956 Series J preferred stock premium and amortization. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (328) (328) Limited partner units exchanged to common units (24,000 units) . . . . . . . . . . . . . . . . . . . . . . . . . . . 253 (253) — Stock incentive program (90,902 common units, net) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — Amortization of stock incentive . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,604 12,604 Redemption of limited partner units (43,255 units) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (6,453) (393) (6,846) Treasury unit purchase (2,247,074 units) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (359,773) (359,773) Long-term incentive performance units . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20,749 20,749 Issuance of unit equivalents and other (16,336 common units) . . . . . . . . . . . . . . . . . . . . . . . . . . . . (32,460) 139 (32,321) Unrealized loss 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, excluding distributions on preferred interests classified as temporary equity . . . . . . . . . . (3,337) (2,555,607) (388,541) (2,446) (2,949,931) Net income, excluding preferred distributions on temporary equity preferred units of $1,915 and a $431 loss attributable to noncontrolling redeemable interests in properties . . . . . . . . . . . . . . . . . . 3,337 2,098,247 318,698 1,422 2,421,704 Balance at December 31, 2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 42,420 $ 2,483,978 $ 378,339 $ 6,513 $ 2,911,250

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, excluding distributions on preferred interests classified as temporary equity . . . . . . . . . . (3,337) (1,866,483) (279,379) (3,507) (2,152,706) Net income, excluding preferred distributions on temporary equity preferred units of $1,915 and a $6,044 loss attributable to noncontrolling redeemable interests in properties . . . . . . . . . . . . . . . . . 3,337 1,109,227 167,223 1,666 1,281,453 Balance at December 31, 2020 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 42,091 $ 2,997,381 $ 431,784 $ 1,090 $ 3,472,346

Simon Property Group, L.P. Consolidated Statements of Equity (Dollars in thousands) Preferred Simon (Managing Limited Noncontrolling Total Units General Partner) Partners Interests Equity

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