Simon 2021 Annual Report

Mortgage and Unsecured Debt As of December 31, 2021 (Dollars in thousands)

(23) Variable rate loan based on 3M EURIBOR plus an interest rate spread of 130 bps. Through an interest rate floor agreement, 3M EURIBOR is currently fixed at 0.00%. Also, 3M EURIBOR is capped at 1.30%. (24) Variable rate loan based on 3M EURIBOR, which is subject to a floor of 0.00%, plus an interest rate spread of 175 bps. (25) Variable rate loan based on 3M EURIBOR plus an interest rate spread from 250 bps to 275 bps. Through an interest rate floor agreement, 3M EURIBOR is currently fixed at 0.00%. (26) Amount shown in USD equivalent. Yen equivalent is 46.7 billion (27) Associated with this loan is an interest rate swap agreement that effectively fixes the interest rate on this loan at the all-in rate presented. (28) Variable rate loan based on 3M EURIBOR plus an interest rate spread of 160 bps. Through an interest rate floor agreement, 3M EURIBOR is currently fixed at 0.00%. In addition, 3M EURIBOR is capped at 1.00%. (29) Consists of two properties with interest rates ranging from 5.65% to 7.32% and maturities in 2024. (30) Amount shown in USD equivalent. Euro equivalent is 1.2 billion. (31) Our share of total indebtedness includes a pro rata share of the mortgage debt on joint venture properties, including properties owned by The Mills Limited Partnership. To the extent total indebtedness is secured by a property, it is non-recourse to us, with the exception of approximately $209.9 million of payment guarantees provided by the Operating Partnership. (32) Amount shown in USD equivalent. Peso equivalent is 517.6 million. (33) Variable rate loan based on 1M LIBOR plus an interest rate spread of 295 bps. In addition, LIBOR floor at 2.32%. (34) Variable rate loan based on 1M LIBOR plus an interest rate spread of 350 bps. In addition, LIBOR floor at 0.25%. (35) On January 12, 2022, the Operating Partnership repaid $1.05 billion under the Supplemental Credit Facility. The changes in consolidated mortgages and unsecured indebtedness for the years ended December 31, 2021, 2020 and 2019 are as follows: 2021 2020 2019 Balance, Beginning of Year. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 26,723,361 $ 24,163,230 $ 23,305,535 Additions during period: New Loan Originations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,255,220 15,269,455 13,355,809 Loans assumed in acquisitions and consolidation . . . . . . . 46,263 — 21,001 Net (Discount)/Premium. . . . . . . . . . . . . . . . . . . . . . . . . . . . (9,118) 28,906 (16,903) Net Debt Issuance Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . (35,818) (34,595) (23,505) Deductions during period: Loan Retirements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (10,386,133) (12,932,448) (12,366,951) Amortization of Net Discounts/(Premiums) . . . . . . . . . . . . . 168 174 (758) Debt Issuance Cost Amortization . . . . . . . . . . . . . . . . . . . . 24,794 23,076 18,400 Scheduled Principal Amortization . . . . . . . . . . . . . . . . . . . . (48,386) (51,728) (58,419) Foreign Currency Translation . . . . . . . . . . . . . . . . . . . . . . . (249,329) 257,291 (70,979) Balance, Close of Year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 25,321,022 $ 26,723,361 $ 24,163,230

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