Simon Sustainability Report 2020-2021

WATER MANAGEMENT Responsible water management is a priority for Simon, and we apply best practices to manage our water footprint across our portfolio. We aim to reduce our water consumption by 20% between 2013 and 2025. In the period 2013-2020 we have achieved 26%water reduction thanks to our water conservation and efficiency program 11 . This program included active benchmarking of water consumption data and tracking and analyzing water consumption data monthly. The main water efficiency measures are targeted at water usage in restrooms, irrigation, air conditioning, and cleaning. Examples of the new equipment we purchase for restrooms include low-flow fixtures, aerators, automatic shutoffs, low-flow toilets, and waterless urinals. We continuously assess opportunities for water efficiency and reuse across the portfolio. We minimize the water use needed for landscaping by planting more drought tolerant plant species, eliminating irrigation through xeriscaping, and by installing local drip-irrigation systems, efficient sprinkler heads, and smart irrigation control systems. Our updated Environmental Management System sets minimum requirements (e.g. WaterSense labeled fixtures) for all replacements, new (re)developments and refurbishments of all common areas. WASTE MANAGEMENT Simon aims to reduce waste generated through our operations and development activities wherever possible. We want to reduce our environmental footprint and lower waste handling costs. Simultaneously, reducing waste helps us achieve a lower carbon impact—contributing to a better environment and benefitting our long-term target to reduce our Scope 3 emissions by 21% by 2035. Simon has cardboard recycling programs in place at all properties and has rolled out plastic film recycling programs at select centers across the portfolio. On an ongoing basis, we assess the financial and operational feasibility of the use of single-stream recycling. By offering single-stream recycling, higher recycling rates are typically achieved because less waste separation is required from retailers. Simon has rolled out a tenant education program which outlines the availability of recycling programs, announces improved signage at centers, and regularly communicates reminders about proper implementation of recycling programs. To track and report on Simon’s waste and recycling data, an annual survey is conducted for all centers. To complete the survey teams regularly check and ensure that they have full and efficient access to all waste stream data and report any issues that arise. On an annual basis, Simon analyzes all properties’ waste and recycling data, to help identify and address data gaps, as well as opportunities for centers to optimize their waste management and increase recycling rates.

USE SUSTAINABLE LOCAL ENERGY By 2030, Simon aims to increase the share of renewable energy in our global energy mix substantially and double our global rate of improvement in energy efficiency. We continue to optimize our energy efficiency and procure electricity from cleaner energy sources. Simon is forward thinking and wants to power its assets with sustainable energy. Working through Direct Energy, we are enjoying affordable clean energy that provides over 150,000 MWh's of green power to our properties in Texas. In September 2019, we completed the installation of three on-site renewable energy projects on the rooftops of Clinton Premium Outlets, Jackson Premium Outlets and Jersey Shore Premium Outlets. In total, these projects generated 730 MWh annually, which is used to power the common areas of these centers and reduces the carbon footprint of our properties even further. SUSTAINABLE NEW PROPERTIES To ensure Simon adds new sustainable properties to its portfolio, we have updated our sustainable development guidelines to incorporate energy efficiency, water conservation, sustainable sourcing and the socio-economic impact into the design of every major redevelopment of the property. During the construction, we utilize these guidelines to collaborate with local stakeholders to ensure health and safety standards are in place, pollution is minimized or avoided, and construction waste is sorted and recycled. We have also updated our procurement guidelines and incorporated an ESG due diligence checklist that is used in connection with considering any new acquisition of super- regional malls. During the acquisition phase, we use this checklist to assess every property on its energy efficiency, climate impact, socio-economic contributions, health and safety aspects and compliance with regulatory requirements.

11 2020 reductions are partially due to COVID-19 and are thus not considered for achieving the 2025 reduction target.

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