Simon 2021 Annual Report

the historical accuracy of management’s estimates and performed sensitivity analyses of significant assumptions to evaluate the changes in the cash flows and the fair value of the related investment that would result from changes in the assumptions, and we evaluated whether a decline in fair value below the related investment’s carrying value was other-than-temporary.

/s/ E RNST & Y OUNG LLP

We have served as the Company’s auditor since 2002. Indianapolis, Indiana February 24, 2022

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