A BRAND NEW FASHION OUTLET VENUE IN THE MILE HIGH CITY

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1 THORNTON, COLORADO

2 A BRAND NEW FASHION OUTLET VENUE IN THE MILE HIGH CITY

3 FASHION. BEAUTY. DENVER.

4 LOCATION, LOCATION, INSPIRATION In 2017, U.S. News & World Report named Denver the second-best place to live in America; and Forbes ranked Denver the nation s fifthbest city for young professionals. With an estimated population of approximately 2.8 million, the Mile High City ranks within the top 20 most populous cities in the United States. Top executives and high earning young professionals live, work, play, and shop here. Major Denver corporate employers include Ball Corp., Centura Health, Comcast, DISH Network, Frontier Airlines, HealthONE, IBM, Lockheed Martin, United Airlines, UPS, and Wells Fargo. The Metro area is served by Denver International Airport (DIA), the fourth-busiest in the US, and tenth in the world. The Denver market receives 12.7 million overnight visitors per year, generating $3 billion in total spending. It is a top destination for a mix of visitors from inside the US, Europe, and Asia. They come for the huge sports arenas, entertainment venues, restaurants, recreation, cultural attractions, and resorts. They also come here to shop. Simon s brand new Denver Premium Outlets is perfectly located in Thornton, in the heart of the I-25 North corridor. Just 15 minutes north of downtown Denver, the City of Thornton basks in Denver s light with a singular, vibrant energy. Welcome to fashion outlet shopping, Colorado style. Welcome to Denver Premium Outlets.

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8 YOUNG, UPSCALE PLACE TO BE The economies of Greater Denver and Thornton are in a constant state of growth. Retail is a rising linchpin of the area s economy, and the Simon Premium Outlets shopping experience is not only unique to the area, but also plays a major role in supporting it. #1 Simply Hired has ranked Denver the best city for technology jobs 3x Downtown Denver s population has tripled since % Increase in hotel occupancy from March 2016 to Total miles of rail connected to downtown Denver 13.2% Employment growth in Denver, Companies have relocated or expanded in downtown Denver since ,300 Employment up 2.1% from March 2016 to 2017 $2.5B Total investment in downtown Denver developments

9 BIG PLANS FOR YOUR BRANDS The Simon Premium Outlets platform is living up to its premium moniker by delivering the fashion and household brand names our customers love. A unique Simon venue not far from the city center, Denver Premium Outlets puts your company in good company.

10 GRAND VENUE GREAT PLACE PROPOSED OUTLET RETAIL PROPOSED RESTAURANTS PROPOSED OUTLOTS CABELA S Successful brands deserve select audiences and environments. Denver Premium Outlets delivers an original, brand new, master-planned outdoor shopping experience that reflects the aspirations of our guests. 140TH AVE. + 36" + 24" + 36" + 36" Set on approximately 50 acres, Phase 1 of Denver Premium Outlets features 80 stores spanning 325,000 square feet. Additional pads will include hotels, restaurants, and entertainment venues. + 24" + 24" + 32" GRANT ST. I-25 TO WASHINGTON ST ± ACRES 1.695± ACRES LOWE S 1.45± ACRES 136TH AVE. NORTH 4.19± ACRES

11 TRADE AREA COMPS: MAPS AND CHARTS Wellington Laporte 8 Fort Collins 8 Timnath Nunn Pierce Ault Severance Eaton Simon Centers Competition 1 Denver Premium Outlets 2 Aspen Grove 3 Belmar 4 Cherry Creek Mall 5 Colorado Mills 6 Denver Pavilions 7 Flatiron Crossing 8 Foothills Mall 9 Greeley Mall 10 Northfield at Stapleton 11 Orchard Town Center 12 The Outlets at Castle Rock 13 The Outlets at Loveland 14 Park Meadows 15 The Promenade Shops at Centerra 16 Southlands Town Center 17 Southwest Plaza 18 The Streets at SouthGlenn 19 Town Center at Aurora 20 Twenty Ninth Street 21 Twin Peaks Mall Estes Park Berthoud Grand Lake Lyons Allenspark Granby Tabernash Fraser Winter Park Longmont 21 Altona Bark Ranch Niwot Glendale Ward Gunbarrel Gold Hill Leyner Crisman Erie Sugarloaf Boulder 20 Lafayette Bonanza Mountain Estates Louisville Eldora Eldorado Springs Rollinsville 7 Superior Coal Creek St Mary's Black Hawk Downieville-Lawson-Dumont Idaho Springs Georgetown Floyd Hill Silver Plume Kittredge Upper Bear Creek Indian Hills Montezuma Aspen Park 21 Loveland 1315 Johnstown Northglenn Federal Heights Commerce City Arvada Derby North Washington Fairmount Mountain View 10 Denver Edgewater 6 East Pleasant 5 View3 4 Lakewood Genesee Sheridan Bow Mar 17 Columbine Valley Columbine2 18 Littleton Mead Firestone Frederick Dacono Windsor Greeley Gilcrest Platteville Thornton Lochbuie Todd Creek 18 Aurora Centennial 16 Dove Valley 14 Grand View Estates Garden City 9 La Salle Milliken MILES Aristocrat Ranchettes Fort Lupton Kersey 45 MILES 30 MILES Keenesburg Hudson Watkins Bennett Strasburg Byers Comanche Creek Brick Center Jackson Lake Orchard Wiggins Peoria Deer Tr Breckenridge Louviers Parker Roxborough Park Castle Pines The Pinery 12 Ponderosa Park Castle Rock Elizabeth Kiowa Perry Park Larkspur Elbert

12 DYNAMIC DEMOGRAPHICS Greeley The capital of Colorado, Denver s demographics tell a story of spectacular growth, development, and expansion. According to metrodenver.org, the Metro area has a population of about three million people. With a growth rate that has consistently outpaced the national rate every decade since the 1930s, by 2020, its population is anticipated to increase to more than 3.3 million. Downtown Denver s population has approximately tripled since the year 2000, and its 2017 population exceeds 700,000. NerdWallet ranked it as the fourth-best city for young entrepreneurs, and Simply Hired ranked it as the best city for technology jobs. This influx responds both to expansions of existing global companies, and to waves of new ones. Millennials are particularly attracted to Denver for the city s robust startup scene - with opportunities to find colleagues, partners, investors, and build networking opportunities. Denver Premium Outlets is perfectly positioned to attract and cater to the area s spectacular growth and emerging shopper base. 70 Loveland / Ft. Collins Boulder 25 Denver 76 Major Metropolitan Areas CITY Denver Boulder Loveland / Ft. Collins Greeley DISTANCE 15 miles 15 miles 27 miles 30 miles RADIUS 15 miles 30 miles 45 miles POPULATION 1,132,879 2,893,853 3,705,144 AVERAGE HOUSEHOLD INCOME 30 mile average $86,636

13 DESTINATION RECREATION The Denver Art Museum, the Downtown Aquarium, Sports Authority Field at Mile High, The Colorado Symphony, majestic hotels including the 5-Star Four Seasons, and nationally recognized restaurants are just a few highlights. Denver Premium Outlets will become a coveted venue as well.

14 THE SIMON EXPERIENCE

15 FASHION OUTLET SHOPPING, SIMON STYLE The Simon Premium Outlets portfolio includes 71 centers in North America, and 15 centers in Japan, Korea, and Malaysia. There are also nine Designer Outlets in Austria, Canada, France, Germany, Italy, the Netherlands, and the UK. All of these venues are strategically defined gathering places where savvy consumers can shop well-curated brands, and save up to 65% every day throughout each center. Largely due to the influence of Millennials and Gen Z, shopping and fashion no longer refer exclusively to purchasing, but to the entire customer experience. At Simon Premium Outlets guests can socialize and relax in beautiful, largely open-air environments surrounded by beautiful landscaping, contextual ambience, and the visual flavors of their locales. Simon Premium Outlets leverage the power of our great brands, which we promote actively with a mix of traditional and cutting-edge online media. We engage the opinions and significant marketing power of social influencers, and welcome a whole new generation, all around the world.

16 SIMON PREMIUM OUTLETS GLOBAL FOOTPRINT UNITED KINGDOM CANADA NETHERLANDS GERMANY LUXEMBOURG AUSTRIA FRANCE ITALY GREECE UNITED STATES SOUTH KOREA JAPAN HAWAII (USA) MEXICO PUERTO RICO (USA) MALAYSIA Strategic Partnerships: McArthur Glen Simon Shinsegae Simon Mitsubishi Simon Genting Simon Grupo Sordo Madaleno SIMON GLOBAL FOOTPRINT

17 INFINITEET SHOPPING, OPPORTUNITY ARIZONA Phoenix Premium Outlets Tucson Premium Outlets CALIFORNIA Camarillo Premium Outlets Carlsbad Premium Outlets Desert Hills Premium Outlets Folsom Premium Outlets Gilroy Premium Outlets Las Americas Premium Outlets Napa Premium Outlets Petaluma Village Premium Outlets Pismo Beach Premium Outlets San Francisco Premium Outlets Vacaville Premium Outlets COLORADO Denver Premium Outlets CONNECTICUT Clinton Crossing Premium Outlets FLORIDA Ellenton Premium Outlets Orlando International Premium Outlets Orlando Vineland Premium Outlets Silver Sands Premium Outlets St. Augustine Premium Outlets Tampa Premium Outlets GEORGIA North Georgia Premium Outlets HAWAII Waikele Premium Outlets ILLINOIS Chicago Premium Outlets INDIANA Edinburgh Premium Outlets Lighthouse Place Premium Outlets MAINE Kittery Premium Outlets MARYLAND Clarksburg Premium Outlets Hagerstown Premium Outlets Queenstown Premium Outlets MASSACHUSETTS Lee Premium Outlets Wrentham Village Premium Outlets MICHIGAN Birch Run Premium Outlets MINNESOTA Albertville Premium Outlets Twin Cities Premium Outlets MISSISSIPPI Gulfport Premium Outlets MISSOURI St. Louis Premium Outlets NEVADA Las Vegas North Premium Outlets Las Vegas South Premium Outlets NEW HAMPSHIRE Merrimack Premium Outlets NEW JERSEY Gloucester Premium Outlets Jackson Premium Outlets Jersey Shore Premium Outlets NEW YORK Waterloo Premium Outlets Woodbury Common Premium Outlets NORTH CAROLINA Carolina Premium Outlets Charlotte Premium Outlets OHIO Aurora Farms Premium Outlets Cincinnati Premium Outlets OKLAHOMA Tulsa Premium Outlets * OREGON Woodburn Premium Outlets PENNSYLVANIA The Crossings Premium Outlets Grove City Premium Outlets Philadelphia Premium Outlets TEXAS Allen Premium Outlets Grand Prairie Premium Outlets Houston Premium Outlets Rio Grande Valley Premium Outlets Round Rock Premium Outlets San Marcos Premium Outlets VIRGINIA Leesburg Corner Premium Outlets Norfolk Premium Outlets Williamsburg Premium Outlets WASHINGTON North Bend Premium Outlets Seattle Premium Outlets WISCONSIN Johnson Creek Premium Outlets Pleasant Prairie Premium Outlets PUERTO RICO Puerto Rico Premium Outlets CANADA Premium Outlet Collection Edmonton* Edmonton (Calgary), Alberta May 2018 Joint venture with Ivanhoé Cambridge Premium Outlets Montréal Mirabel (Montréal), Quebec Joint venture with Calloway Real Estate Investment Trust and SmartCentres Toronto Premium Outlets Halton Hills (Toronto), Ontario Joint venture with Calloway Real Estate Investment Trust JAPAN Gotemba Premium Outlets Gotemba City (Tokyo) Ami Premium Outlets Ibaraki (Tokyo) Rinku Premium Outlets Izumisano (Osaka) Kobe-Sanda Premium Outlets Kobe (Kobe - Osaka) Toki Premium Outlets Nagoya Sano Premium Outlets Sano (Tokyo) Sendai-Izumi Premium Outlets Sendai Shisui Premium Outlets Shisui (Narita) Joint venture with Mitsubishi Estate Co. Tosu Premium Outlets Tosu (Fukuoka) KOREA Busan Premium Outlets Busan Joint venture with Shinsegae Paju Premium Outlets Paju (Seoul) Siheung Premium Outlets Siheung (Seoul) Yeoju Premium Outlets Yeoju (Seoul) MALAYSIA Genting Highlands Premium Outlets Genting Highlands (Kuala Lumpur) Johor Premium Outlets Johor Bahru (Singapore) MEXICO MR Premium Outlets Punta Norte Mexico City OTHER OUTLETS FLORIDA Florida Keys Outlet Marketplace Orlando Outlet Marketplace GEORGIA Calhoun Outlet Marketplace MISSOURI Osage Beach Outlet Marketplace NEW JERSEY Liberty Village Outlet Marketplace SOUTH CAROLINA Gaffney Outlet Marketplace TENNESSEE Lebanon Outlet Marketplace *In Development

18 COMPARABLE CASE STUDY The recently opened Clarksburg Premium Outlets in Maryland is similar to Denver Premium Outlets, and both represent our expertise in assembling unparalleled tenant mixes in outlet centers we build from the ground up. The Clarksburg venue serves Greater Washington, D.C. with 85 designer and brand-name retailers spanning 392,000 square feet of store space. Tenants include exciting luxury and fashion brands such as AllSaints, Baldinini, Bally, Clarins, Eredi Pisanò, Ermenegildo Zegna, Giorgio Armani, Hugo Boss, kate spade new york, Philipp Plein, Salvatore Ferragamo, Tadashi Shoji, Theory, Thomas Pink, and Tory Burch. Anchors include Adidas, Banana Republic, Brooks Brothers, Calvin Klein, Coach, J.Crew, Michael Kors, Nike, Polo TH Ralph Lauren, Saks Fifth Avenue OFF 5, Tommy Hilfiger, and Under Armour. Notable new brands have recently debuted across the Simon Premium Outlets portfolio: Acne Studios, Agent Provocateur, Dsquared 2, Givenchy, Hackett, Lafayette 148 New York, Moleskine, Montblanc, PERRIN PARIS, Roger Vivier, Zadig + Voltaire, and more. Many trend-ahead retailers will grace Denver as well.

19 BRINGING BRANDS AND COMMUNITIES TOGETHER More than real estate, Simon is a company of experiences and relationships. For guests, Simon provides distinctive shopping, dining, and entertainment. For retailers, Simon offers the unique opportunity to thrive in the best retail real estate in the best markets. From new projects and redevelopments to acquisitions and mergers, Simon is continuously evaluating its portfolio to enhance the luxury experience so that properties are venues where consumers love to linger, and retailers want to be seen. Scale Largest global owner of retail real estate including Malls, Simon Premium Outlets and The Mills Quality Iconic, irreplaceable properties in great locations Investment Active portfolio management increases productivity and returns Growth Core business and strategic acquisitions drive performance Experience Decades of experience in development, ownership, and management Lease with Simon.

20 UNPRECEDENTED OPPORTUNITY Simon offers many different leasing options. Please contact us for more information about this property, and we will be happy to assist you. Larry Weinstein Executive Vice President Leasing - Premium Outlets 60 Columbia Road, Building B Morristown, N.J USA T (973) M (973) F (973)

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