MARKET PROFILE LEASING INFORMATION: MACERICH.COM

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1 MARKET PROFILE PROPERTY TYPE: Outlet TOTAL SQUARE FEET: 686,000 MORE THAN 200 DESIGNER OUTLETS MAJOR RETAILERS: Burberry, Coach, Columbia Sportswear, DAVIDsTEA, Disney, BOSS Outlet, J. Crew, kate spade new york, Michael Kors, Nike Factory Store, Polo Ralph Lauren, Saks Fifth Avenue OFF Fifth, Tommy Hilfiger, True Religion, Under Armour, Vera Bradley, Victoria s Secret FOOD COURT: 10 units BUILT / EXPANDED: 1982/2014 LEASING INFORMATION: MACERICH.COM

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4 DEMOGRAPHIC SUMMARY POPULATION 30-MILE RADIUS U.S & CANADA 45-MILE RADIUS U.S & CANADA 60-MILE RADIUS U.S & CANADA 2015 Population 1,529,912 4,049,064 8,597, Population 1,536,933 4,168,039 8,959, to 2020 Population Growth 0.5% 2.9% 4.2% HOUSEHOLDS 2015 Households 647,490 1,707,581 3,269,974 INCOME Average Household Income $71,248 $88,615 $93,676 Per Capita Income $30,411 $37,717 $35,748 HOUSEHOLD INCOME RANGES $50, ,180 54% 1,006,646 59% 2,042,088 62% $100, ,390 22% 468,188 27% 1,001,526 31% AGE Median Age OCCUPIED HOUSING UNITS Total Units 647,489 1,716,687 3,274,363 Owned 438,122 68% 1,088,244 63% 2,247,422 69% Rented 209,367 32% 628,443 37% 1,026,812 31% The combined total for Average Household Income and Per Capita Income are estimated and weighted on population and households. It does not consider the difference or fluctuations in currency and assumes the CAD$ and US$ are equivalent. These totals should only be used for directional purposes as an estimate. U.S. Source: U.S. Census Bureau, Census Esri forecasts for 2015 and Infogroup Inc. Canadian Data Source: Business Analyst Canadian products are based, in whole or in part, on: Selected Statistics Canada files. Environics Analytics acquires and distributes Statistics Canada files in accordance with the Government of Canada s Open Data Policy. No information on any individual or household was made available to Environics Analytics by Statistics Canada. PRIZM and selected PRISM5 nicknames are registered trademarks of The Nielsen Company (U.S.) and are used with permission. Copyright 2015 Environics Analytics.; Selected InfoCanada Business Listings Data Computer File(s). Selected Navteq 2015 Streetmap Premium Computer File(s), Copyright 2015 Esri.

5 TRADE AREA MAP LEGEND FASHION OUTLETS OF NIAGARA FALLS COMPETITIVE CENTERS OTHER CENTERS N 30%

6 TOURISM INFORMATION VISITOR DEMOGRAPHICS Average Age 46 Percentage Under 21 16% Male / Female 54% / 46% Education 83% Employed 70% Retired 12% Income Greater Than $30,000 87% TRIP CHARACTERISTICS Adults 84% Children 16% Overnight Stay 65% VISITOR ETHNICITY White 75% Hispanic 7% Asian/Pacific Islander 8% American-Indian/Alaska Native 3% African-American 6% FIRST VS. REPEAT VISIT First Time Visitor 32% Repeat Visitor 68% TRANSPORTATION Air 10% Automobile 79% Bus 1% Recreational Vehicle 3% Train 1% Other 3% EXPENDITURES Less Than $100 Per Person 20% Between $100 and $199 Per Person 22% Between $200 and $299 Per Person 21% Between $300 and $399 Per Person 12% $400 or More Per Person 26% Spent Over $100 Per Visit 81% TOP FEEDER MARKETS TO NIAGARA FALLS Ontario, Canada New York Pennsylvania Ohio MAJOR LOCAL ATTRACTIONS Niagara Falls bordering the U.S. and Canada, this natural wonder attracts 22 million visitors annually from all over the world. Seneca Niagara Casino and Hotel the 113,000-square-foot casino, 18-hole golf course, spa and more than 600 guest rooms draw 8 million visitors annually. Niagara Fallsview Casino Resort this 30-story resort overlooks the Horseshoe and American Falls and offers a 200,000-square-foot casino, 18 restaurants, a nightclub, 374 guest rooms, shopping and spa. Casino Niagara a 95,000-square-foot complex with a casino and restaurants. Plans for five new hotels to open in Niagara Falls in MOTOR COACH GROUPS Over 2,000 motor coach buses visit Fashion Outlets of Niagara Falls annually. Approximately 90% of motor coach groups are international visitors and 10% are domestic. Top Countries of Origin China 65% Canada 15% India, Taiwan and Thailand 10% UPDATED 3/16

7 SITE PLAN FOOD COURT ANCHOR MALL PERIPHERAL Fashion Outlets of Niagara Falls is the region s premier outlet center where visitors from all over the world will find 200 top designer brands, set to a backdrop of the inspiring natural wonder, Niagara Falls. Perfectly situated along the Canadian border with outstanding visibility from I-190. Boasting an average household income of $93,676 for the 8.6 million people in the total trade area, the center draws shoppers from Buffalo and Upstate New York to Southern Ontario, including Greater Toronto. The superior location, in close proximity to the Falls and the Canadian border, makes Fashion Outlets of Niagara Falls the third largest tourist destination in the Buffalo-Niagara region after the Falls themselves and the Seneca Niagara Hotel and Casino. Niagara Falls alone draws more than 22 million visitors annually with the casino drawing over 8 million visitors. Already one of the top outlet centers in the U.S. with 75 brands not available in nearby centers, the completion of a $71 million renovation and expansion brought an additional 170,000 square feet of retail space to better serve the discriminating tastes of tourists and locals from both sides of the border.

8 FASHION OUTLETS BLVD FASHION OUTLETS BLVD WALMART FASHION OUTLETS OF NIAGARA FALLS PARKING 3,500 SPACES N I-190 I-190 MILITARY MILITARY ROAD ROAD OWNED OTHER SAMS CLUB POLO RALPH LAUREN GAP NIKE SAKS FIFTH AVENUE OFF 5TH FOREVER 21