2025 SIMON® Annual Report

Simon Property Group, Inc. Simon Property Group, L.P. Annual Report on Form 10-K

December 31, 2025 TABLE OF CONTENTS

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Part I

1. Business ......................................................................... 1A. Risk Factors ...................................................................... 1B. Unresolved Staff Comments ......................................................... 1C. Cybersecurity ..................................................................... 2. Properties ........................................................................ 3. Legal Proceedings ................................................................. 4. Mine Safety Disclosures ............................................................ 5. Market for Registrant’s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities ..................................................... 6. Reserved ......................................................................... 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations . . . . 7A. Quantitative and Qualitative Disclosure About Market Risk ............................... 8. Financial Statements and Supplementary Data ......................................... 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure . . . 9A. Controls and Procedures ........................................................... 9B. Other Information .................................................................. Part II 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections ...................... Part III 10. Directors, Executive Officers and Corporate Governance ................................ 11. Executive Compensation ........................................................... 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters .............................................................. 13. Certain Relationships and Related Transactions and Director Independence ................ 14. Principal Accountant Fees and Services .............................................. Part IV 15. Exhibits and Financial Statement Schedules ........................................... 16. Form 10-K Summary ...............................................................

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11 26 27 29 56 56 57 58 59 79 8 0

144 144 146 146 146 146 146 146 147

148 148

Signatures .......................................................................

156

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