OVERVIEW ADDRESS GROSS LEASABLE AREA DAILY TRAFFIC COUNT MAJOR CITIES POPULATION

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MARKET OVERVIEW Commerce, Georgia is an impressive commercial district located on the US 441 Heritage Highway. Shopping, restaurants and other regional attractions convey relaxed southern charm.

2 MARKET OVERVIEW Commerce, Georgia is an impressive commercial district located on the US 441 Heritage Highway. Shopping, restaurants and other regional attractions convey relaxed southern charm. The area is also home to the Atlanta Dragway that has a full schedule of events throughout the year. Sandy Creek or Deer Trail golf courses offer traditional golfing in the North Georgia Mountains. Athens, Georgia is home to the University of Georgia and just minutes from the center. Over 36,000 students are enrolled there. Jackson County has enjoyed significant success in attracting new industrial and distribution facilities. Since 2013, housing starts in the area have increased by +35%. The center is located right on the edge of the Atlanta Metro area, the 9th largest US population center. Home to more than 5.3 million people, nearly 150,000 businesses and a world class airport. TANGER OUTLETS COMMERCE 2

ADDRESS 800 Steven B Tanger Blvd Commerce, GA 30529 GROSS LEASABLE AREA 371,408 SF DAILY TRAFFIC COUNT Hwy 441 / 21,200 OVERVIEW MAJOR CITIES Athens, GA (20 miles) Atlanta, GA (63 miles) Greenville,

3 ADDRESS 800 Steven B Tanger Blvd Commerce, GA GROSS LEASABLE AREA 371,408 SF DAILY TRAFFIC COUNT Hwy 441 / 21,200 OVERVIEW MAJOR CITIES Athens, GA (20 miles) Atlanta, GA (63 miles) Greenville, SC (74 miles) POPULATION (60 Miles) / 4,020,339 Commerce, Georgia is one of the most visited outlet locations in the South. In addition to great outlet shopping, the area features quality lodging, excellent restaurants, and numerous destinations that are an attraction for tour groups and conventions. MSA Population 5,527,230 - Atlanta-Sandy Springs- Roswell, GA TANGER OUTLETS COMMERCE 3

4 GALLERY TANGER OUTLETS COMMERCE 4

5 LOCATION The center is located at I-85, Exit 149, Hwy 441 REGIONAL MAP LOCAL MAP TANGER OUTLETS COMMERCE 5

6 CENTER MAP SERVICE LEGEND SHOPPER SERVICES PURCHASE GIFT CARDS RESTROOMS CHARGING STATION BUS CHECK-IN COMPLIMENTARY ELECTRIC VEHICLE CHARGING STATION ATM STROLLER & WHEELCHAIR FAMILY RESTROOMS TOLLEY STOP AUTOMATED EXTERNAL DEFIBRILLATOR FREE WI-FI CENTERWIDE COUPON BOOKS VENDING MACHINE MOTHERS ROOM SHOPPER SERVICES Visit before you shop! B B 105A A STEVEN B. TANGER BLVD. TANGER OUTLETS COMMERCE 800 Steven B. Tanger Boulevard Commerce, GA TANGER OUTLETS COMMERCE 6

7 AERIAL The center is located right on the edge of the Atlanta Metro area, off Highway 85. TANGER OUTLETS COMMERCE 7

8 MARKET SNAPSHOT AERIAL TANGER OUTLETS COMMERCE 8

9 RETAIL SNAPSHOT MAP TANGER OUTLETS COMMERCE 9

10 MARKET SNAPSHOT MAP TANGER OUTLETS COMMERCE 10

11 0-60 MILES DEMOGRAPHICS 1,476,706 Households STATISTICS 0-5 MILES 0-10 MILES 0-30 MILES 0-45 MILES 0-60 MILES Population 13,688 35, ,918 1,974,788 4,020,339 Households 5,015 12, , ,015 1,476,706 Families 3,607 9, , ,405 1,012,337 Median Age Avg Household Income $54,960 $59,100 $68,546 $79,701 $84,821 $84,821 Avg. Household Income HOUSEHOLD INCOME 0-5 MILES 0-10 MILES 0-30 MILES 0-45 MILES 0-60 MILES Less than $15, % 15.5 % 13.9 % 10.6 % 10.6 % $15,000-$24, % 12.0 % 10.9 % 9.4 % 9.3 % $25,000-$34, % 12.4 % 10.3 % 9.0 % 9.0 % $35,000-$49, % 16.3 % 14.3 % 13.1 % 12.9 % $50,000-$74, % 18.0 % 18.5 % 18.4 % 18.1 % $75,000-$99, % 11.0 % 11.7 % 12.8 % 12.1 % $100,000-$149, % 9.8 % 12.3 % 15.7 % 15.0 % $150, % 12.0 % 16.0 % 20.9 % 21.8 % AGE DISTRIBUTION 0-5 MILES 0-10 MILES 0-30 MILES 0-45 MILES 0-60 MILES 0-14yrs 19.2 % 19.0 % 19.8 % 20.8 % 20.0 % 15-24yrs 11.6 % 12.1 % 15.9 % 14.0 % 13.6 % 25-44yrs 26.7 % 26.2 % 26.5 % 26.9 % 27.3 % 45-64yrs 25.3 % 26.9 % 24.3 % 26.0 % 26.1 % 65+ yrs 17.2 % 15.8 % 13.4 % 12.4 % 13.0 % 1,012,337 Families 36.9 Median Age 4,020,339 Population TANGER OUTLETS COMMERCE 11

8% ZIP CODE STUDIES MARKET AREA 4/6/2018 11/10/2017 8/9/2017 6/15/2017 Anderson 2 2 3 1 Athens 10 11 13 11

12 SALES & TRAFFIC SEASONALITY JAN FEB MAR APR MAY JUN 4.7% 6.2% 8.9% 7.5% 7.7% 8.4% JUL AUG SEP OCT NOV DEC 9.7% 8.2% 7.4% 7.1% 10.4% 13.8% ZIP CODE STUDIES MARKET AREA 4/6/ /10/2017 8/9/2017 6/15/2017 Anderson Athens Atlanta Commerce Area Gainesville Greenville-Spartanburg Gwinnett NC Other GA Other SC Other USA TANGER OUTLETS COMMERCE 12

13 SHOPPER SNAPSHOT SHOPPER PROFILE Commerce Portfolio Females 77% 75% Average Age Average Household Income $68,392 $91,837 Race-Caucasian 64% 71% Race-Hispanic or Latino 5% 5% Race - African American 14% 7% Race - Asian 7% 7% Marital Status- married 67% 73% Local Resident Shoppers 60% 58% Tourist (self-defined) 19% 42% GENERAL SHOPPING PATTERNS Commerce Portfolio Shopping Frequency (trips per yr) Percentage of First Time Visitors 16% 17% Avg # of Stores Visited Avg # of Stores Purchased In % of shoppers making a purchase 93% 95% Length of Shopping Visit 124 minutes 129 minutes Average Size of Shopping Party Average Shopping Expenditure $174 $243 Average Perceived Savings 34% 36% TANGER OUTLETS COMMERCE 13

14 TANGER S REPUTATION WITHIN THE INDUSTRY CONTINUES TO DRIVE TENANT DEMAND FOR SPACE IN TANGER CENTERS CORPORATE HEADQUARTERS Greensboro, NC LOCATIONS Tanger Outlets owns and operates 43 upscale outlet shopping centers in 22 U.S. states coast to coast and in Canada, attracting over 188 million loyal customers each year. CENTER LISTING ON NEXT PAGE TANGER OUTLETS GRAND COMMERCE RAPIDS 13 14

LOCATION LISTING Southaven Mississippi UNITED STATES 1 Foley, AL Gulf Coast Resort Area I-10, Exit 44, Highway 59S 2 Phoenix (Glendale), AZ 9 miles Northwest of Phoenix Loop 101 and Glendale Avenue 3

15 LOCATION LISTING Southaven Mississippi UNITED STATES 1 Foley, AL Gulf Coast Resort Area I-10, Exit 44, Highway 59S 2 Phoenix (Glendale), AZ 9 miles Northwest of Phoenix Loop 101 and Glendale Avenue 3 Foxwoods (Mashantucket), CT Foxwoods Resort Casino, 50 miles East of Hartford 4 Rehoboth Beach, DE Coastal Resort Area 3 Locations on Delaware s Coastal Highway Route 1 5 Daytona Beach, FL Coastal Resort Area I-95 & LPGA Boulevard 6 Commerce, GA Between Atlanta and Greenville, SC I-85, Exit Locust Grove, GA Between Atlanta and Macon I-75, Exit Savannah, GA Southwest Quadrant of I-95 and Pooler Parkway 9 Williamsburg, IA Between Des Moines and Iowa City I-80, Exit Gonzales, LA Between New Orleans and Baton Rouge I-10 at Highway 30, Exit National Harbor, MD 8 Miles Southeast of Washington, D.C. I-95/495 and I Ocean City, MD Coastal Resort Area Route 50, One Mile West of the Beach 13 Grand Rapids, MI Southwest Quadrant of US-131 and 84th Street 14 Howell, MI Between Lansing and Detroit I-96 at M-59, Exit Memphis (Southaven, MS) Northeast Quadrant of I-69/55 and Church Road 16 Branson, MO Ozark Mtn/Lakes Region Resort Area West Highway 76, 2 miles West of US Highway Tilton, NH Lakes Region Resort Area I-93, Left off Exit Atlantic City, NJ Coastal Resort Area 2014 Baltic Avenue 19 Deer Park, NY Minutes from Manhattan I-495, LIE Exit 52 on Commack Road and Grand Boulevard 20 Riverhead, NY Long Island Resort Area I-495 East, LIE Exits 72 and Blowing Rock, NC Blue Ridge Mountains Resort Area 1/2 Mile South of the Blue Ridge Parkway on US Highway Mebane, NC Between Raleigh-Durham and Greensboro/Winston-Salem I-40/85, Exit Nags Head, NC Outer Banks Resort Area Highway 158 Bypass at Mile Post Columbus, OH 22 Miles Northeast of Columbus I-71 and US 36/R Jeffersonville, OH Between Cincinnati and Columbus I-71, Exit Hershey, PA Hershey Park Resort Area Off PA-743/Hershey Park Drive 27 Lancaster, PA Amish Country Resort Area Route 30 East 28 Pittsburgh (Washington), PA 20 Minutes South of Pittsburgh I-79, Exit Charleston, SC Coastal Resort Area I-26, Exit 213 or 213A 30 Hilton Head, SC 31 Hilton Head Island Resort Area I-95, SC Exit 8 onto Highway Locations on Highway Myrtle Beach, SC Myrtle Beach Resort Area Highway 17N at Highway 22 Veterans Highway 33 Myrtle Beach, SC Myrtle Beach Resort Area Highway 501, 3 Miles West of the Intracoastal Waterway 34 Sevierville, TN Smoky Mountain Resort Area Highway 441/Parkway at Traffic Lights #13 and # Fort Worth, TX I-35W & SH 114 North Fort Worth, across from the Texas Motor Speedway 36 Houston (Texas City), TX I-45, Exit 17 to Holland Road 5885 Gulf Freeway 37 San Marcos, TX Between San Antonio and Austin I-35, Exit Terrell, TX 30 Minutes East of Dallas I-20 at Highway 34, Exit Park City, UT Mountain Resort Area I-80, Exit 145, West on Ute Boulevard CANADA 40 Cookstown, ON Toronto and Lake Resort Area 3311 Simcoe Road 89, Highway 400 at Highway Ottawa, ON Kanata, Highway 417 at Hutmar Drive 42 Bromont, QC 45 Miles East of Downtown Montreal Bromont Boulevard Interchange at Highway Saint-Sauveur, QC 37 Miles from Montreal Exit 60 off Highway 15 North TANGER OUTLETS GRAND COMMERCE RAPIDS 14 15

16 Tanger Factory Outlet Centers, Inc. (NYSE:SKT), is a publicly-traded REIT headquartered in Greensboro, North Carolina that presently operates and owns, or has an ownership interest in, a portfolio of 43 upscale outlet shopping centers and one additional center currently under construction. Tanger s operating properties are located in 22 states coast to coast and in Canada, totaling approximately 14.8 million square feet, leased to over 3,100 stores which are operated by more than 500 different brand name companies. The Company has more than 36 years of experience in the outlet industry. Tanger Outlet Centers continue to attract more than 188 million shoppers annually. TANGER OUTLETS COMMERCE 800 Steven B Tanger Blvd Commerce, GA TANGEROUTLETS.COM

OVERVIEW ADDRESS GROSS LEASABLE AREA DAILY TRAFFIC COUNT MAJOR CITIES POPULATION

OVERVIEW ADDRESS GROSS LEASABLE AREA DAILY TRAFFIC COUNT MAJOR CITIES POPULATION MARKET OVERVIEW Founded as America's 13th colony in 1733, Savannah's captivating beauty, heritage and charm make it one of the world's most fascinating cities. With a rich culture that offers the best