2022 SIMON® Annual Report

Land We have direct or indirect ownership interests in approximately 100 acres of land held in the United States and Canada for future development. Sustainability Simon has integrated sustainability initiatives into our business operations: how we plan, develop, and operate our properties. Reducing our greenhouse gas emissions is a central commitment to reducing our environmental impact. In 2020, we announced the adoption of 2035 greenhouse gas emissions targets approved by the Science Based Target Initiative (“SBTi”). Our target is to reduce scope 1 and scope 2 emissions by 68% (2019 baseline), and scope 3 emissions by 20.9% (2018 baseline). We believe that our climate related risk disclosures are aligned with the recommendations of the Task Force on Climate Related Financial Disclosures established by the Financial Stability Board. Reducing water consumption and landfill waste are also components of reducing our carbon and environmental footprint. We have already achieved our initial target of reducing water usage by 20%, and we are working to create a new target that will focus on more efficient and responsible water use in the future. The Governance and Nominating Committee of our Board of Directors (“Board”) has been allocated the oversight of our sustainability policies, including environmental, social, and governance matters. Additionally, the Board has delegated to the Audit Committee the oversight and the annual disclosure of our sustainability programs in the form of an annual sustainability report. In 2022, we were once again awarded a Green Star rating (2014-2022) - the highest designation awarded for leadership in sustainability performance by the Global Real Estate Sustainability Benchmark. We were also the recipient of NAREIT’s Leader in the Light® award for sustainability leadership in the retail property sector. Finally, we scored an A- on the CDP Climate Change questionnaire. To learn more about our sustainability initiatives and detailed reporting please access our latest Sustainability Report at investors.simon.com/. Information in the Sustainability Report and our Company website is not incorporated herein by reference and should not be considered part of this Annual Report on Form 10-K. Mortgages and Unsecured Debt The following table sets forth certain information regarding the mortgages encumbering our properties, and the properties held by our domestic and international joint venture arrangements, and also our unsecured corporate debt. Substantially all of the mortgage and property related debt is nonrecourse to us.