Simon 2021 Annual Report

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The ability to continue to evolve our Company with interesting and innovative investment opportunities is unmatched and unparalleled in our sector. ”

and Jeju Premium Outlets, a 92,000 square foot outlet center located in Jeju Province, South Korea. Jeju Premium Outlets is our fifth Premium Outlet Center in South Korea. ■ We also completed an expansion at La Reggia Designer Outlet (56,000 square foot expansion) in Marcianise (Naples), Italy. ■ We have two new international development projects under construction: Fukaya-Hanazono Premium Outlets in Tokyo, Japan opening fall 2022, our tenth Premium Outlet in Japan; and Paris-Giverny Designer Outlet (Normandie) in France opening spring 2023. Total gross costs for these two projects are approximately $315 million with an expected average yield on cost of approximately 9%. LEASING ■ We executed more than 4,100 leases totaling over 15 million square feet across the portfolio. This was the highest amount of leasing activity we have done over the past six years. ■ Luxury brands continued to choose our portfolio as we executed leases with Gucci, Alexander McQueen, Balenciaga, Bally, Tag Heuer, Breitling, Marc Jacobs, Louis Vuitton, and Prada.

Other new luxury brands being added to our portfolio include Amiri, Ferrari Store, and GANINI. ■ Restaurant activity is robust, as we drive more chef-driven and world- class restaurants to our centers while nurturing our existing relationships and best-in-class local operators. ■ We executed 61 restaurant deals in 2021 and opened 43 including Joey, North Italia, Parm, Plank Seafood Provisions, Shake Shack, Sweetgreen, and True Food Kitchen. ■ Demand for our second-generation restaurant spaces from national, regional, and local restaurateurs remains strong. These spaces provide opportunity for a quick ramp-up, with less capital and risk. ■ We added interactive entertainment retailers to our properties including Museum of Ice Cream, Legoland and Dave and Buster’s. Future entertainment openings include Meow Wolf, Slick City Action Park, and Suffolk Punch. ■ Life Time opened at Northshore Mall and The Shops at Riverside, further enhancing the mixed-use environment of these properties through their healthy way of life communities. We will open additional Life Time locations at Phipps Plaza and The Falls in 2022 and 2023, respectively.

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SIMON PROPERTY GROUP, INC.