Simon 2021 Annual Report

SUSTAINABILITY HIGHLIGHTS

For Simon, sustainability is a business approach that enhances the communities in which we operate as well as long-term shareholder value by embracing opportunities, improving our bottom line, and mitigating environmental and social risks. Our sustainability vision is to be recognized as a leader in sustainable development and operations of retail properties in the U.S. We define and implement sustainability initiatives that consider all stages of our business. The four areas of our sustainability framework are outlined below:

SUSTAINABILITY FOCUS AREAS

Communities Build strong communities through development and engagement activities that have a meaningful social and economic impact at the local level Simon is committed to: –Creating a positive impact on over 204 million residents living near our centers –Graduating the 30,000th Simon Youth Foundation

Customers Respond to customers’ needs and assist our tenants to succeed in their business by enhancing the shopping experience at Simon centers Simon is committed to: –Rolling out a tenant engagement initiative to collaborate with tenants and reduce our scope 3 carbon emissions by 21% by 2035 –Maintaining the WELL Health- Safety Rating™ at our centers –Providing EV charging stations at 100% of our properties ■ Added 204 EV charging stations (+110% since 2018), expanding our portfolio coverage to 124 centers (+13% since 2018) ■ Maintained the WELL Health-Safety Rating through 2021 at all our U.S. and Canadian centers ■ Greatly increased our tenant engagement at the center launched in February 2022 ■ Paid over $680 million in property taxes, and our tenants generated $4.0 billion in state sales taxes and corporate levels, with the first collaborative pilot project KEY ACCOMPLISHMENTS

■ Released our findings on the environmental benefits of returning items to a store vs. online, revealing that savings of up to 40% in GHG emissions are possible when returning items to a store ■ Added 28 new IREM Certified Sustainable Property (IREM CSP) certifications, for a total of 30 green building certifications across Simon’s portfolio ■ Began developing Simon’s Environment Effectively develop and operate our properties with innovative solutions that reduce our environmental footprint as well as our operational costs Simon is committed to: –68% reduction in scope 1 and 2 GHG emissions by 2035 –Minimizing water usage by reducing consumption at our centers by 20% between 2013 and 2025 –Incorporating sustainable development guidelines in all new (re)developments –Increasing the number of green building certifications annually

■ Significantly increased the amount of electrical power sourced from renewable- energy sources such as wind and solar power ■ Published Simon’s D&I policy, and launched Simon’s D&I Council and employee D&I training program ■ Mandated cybersecurity and D&I training for all leadership positions ■ Launched Simon’s Sustainability Innovation Contest, generating over 50 innovative pilot proposals, many of which have already been implemented Simon is committed to: –Participating in the Disability and Equality Index (“DEI”) annually, and being named among DEI’s Best Places to Work™ –Providing ethics training to 100% of full-time employees within 30 days of hire –Establishing an annual employee Sustainability Innovation Award Employees Maintain a culture that attracts and retains the sector’s best talent through thoughtful employee engagement

(“SYF”) student by the end of the 2024-2025 academic year

■ Approximately 350,000 individuals were employed by our tenants ■ $599 million of Simon’s operational spend was with local suppliers ■ Added two new SYF academies across the U.S. (44 total), enrolled over 3,500 students, 25% of which will be first- generation college students. SYF has graduated over 24,000 students since inception ■ Made many of our centers available to our communities for essential COVID-19 purposes (testing and vaccination)

“roadmap to 2035” and complete “Low Carbon Transition Plan”

EXTERNAL RECOGNITION Simon has consistently been recognized for its sustainability disclosure and performance by third parties:

■ Carbon Disclosure Project: Achieved an A- score, earning a prestigious place on CDP’s Climate Change A List for the second consecutive year ■ GRESB: Received a Green Star Rating, the highest designation for sustainability in the real estate industry, awarded by the Global Real Estate Sustainability Benchmark (GRESB) (2014-2021) Read more about progress on our sustainability goals in the Company’s 2020-2021 Sustainability Report at sustainability.simon.com

■ StormReady: Recognized as StormReady by National Weather Service for all U.S. properties ■ Disability: IN: Received recognition for the first time as a “Best Places to Work for Disability Inclusion” by Disability: IN for our continued efforts in diversity and inclusion

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2021 ANNUAL REPORT