2022 SIMON® Annual Report

Mortgage and Unsecured Debt As of December 31, 2022 (Dollars in thousands)

(10) Amount shown in USD equivalent. Euro equivalent is 500.0 million. (11) Amount shown in USD equivalent. Baht equivalent is 2.3 billion. (12) Variable rate loans based on six-month (6M) TIBOR plus interest rate spreads ranging from 15 bps to 35 bps. As of December 31, 2022, 6M TIBOR was 0.14%. (13) Amount shown in USD equivalent. Euro equivalent is 750.0 million. (14) Requires semi-annual payments of interest only. (15) Credit Facilities. As of December 31, 2022, the Credit Facilities bear interest at a SOFR index subject to a 10bps adjustment plus 72.5 bps credit spread. The Credit Facilities provide for different pricing based upon our investment grade rating. As of December 31, 2022, $6.6 billion was available after outstanding borrowings and letters of credit under our Credit Facilities. (16) Supplemental Credit Facility. Subsequent to December 31, 2022, we completed an interest rate swap agreement to effectively swap the interest rate to the all-in rate presented. (17) Amount shown in USD equivalent. Won equivalent is 388.4 billion. (18) City of Sunrise Bond Liability (Sawgrass Mills). (19) Loans secured by these three properties are cross-collateralized and cross-defaulted. (20) Loans secured by these two properties are cross-collateralized and cross-defaulted. (21) Amount shown in USD equivalent. GBP equivalent is 167.5 million. (22) Variable rate loan based on three-month (3M) EURIBOR, which is subject to a floor of 0.00%, plus an interest rate spread of 275 bps. (23) Variable rate loan based on 3M EURIBOR plus an interest rate spread of 130 bps. Through an interest rate cap agreement, 3M EURIBOR is capped at 0.65%. (24) Variable rate loan based on 3M EURIBOR, which is subject to a floor of 0.00%, plus an interest rate spread of 175 bps. (25) Variable rate loan based on 3M EURIBOR plus an interest rate spread 250 bps. Through an interest rate cap agreement, 3M EURIBOR is currently fixed at 1.50%. (26) Amount shown in USD equivalent. Yen equivalent is 55.5 billion (27) Associated with this loan is an interest rate swap agreement that effectively fixes the interest rate on this loan at the all-in rate presented. (28) Variable rate loan based on three-month (3M) GBP LIBOR plus an interest rate spread of 365 bps. 3M GBP LIBOR as of December 31, 2022, was 3.87%. (29) Consists of two properties with interest rates ranging from 5.65% to 7.32% and maturities in 2024. (30) Amount shown in USD equivalent. Euro equivalent is 1.3 billion. (31) Our share of total indebtedness includes a pro rata share of the mortgage debt on joint venture properties, including The Mills Limited Partnership. To the extent total indebtedness is secured by a property, it is non-recourse to us, with the exception of approximately $128.0 million of payment guarantees provided by the Operating Partnership. (32) Amount shown in USD equivalent. Peso equivalent is 469.1 million. (33) Variable rate loans based on 30-day Average SOFR plus interest rate spreads ranging from 275 bps to 295 bps. Through interest cap agreement, 30-day Average SOFR is currently fixed at 4.00%. (34) Variable rate loan based on 1M LIBOR plus an interest rate spread of 350 bps. In addition, 1M LIBOR floor of 0.25%. (35) Variable rate loan based on one-month (1M) SOFR plus interest rate spreads ranging from 230 bps to 235 bps. 1M SOFR as of December 31, 2022, was 4.36%. (36) Variable rate bond based on SOFR index plus 43 bps. (37) Amount shown in USD equivalent. Euro equivalent is 750.0 million.