THE CROSSINGS PREMIUM OUTLETS

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1 THE CROSSINGS PREMIUM OUTLETS

2 THE SIMON EXPERIENCE WHERE BRANDS & COMMUNITIES COME TOGETHER More than real estate, we are a company of experiences. For our guests, we provide distinctive shopping, dining and entertainment. For our retailers, we offer the unique opportunity to thrive in the best retail real estate in the best markets. From new projects and redevelopments to acquisitions and mergers, we are continuously evaluating our portfolio to enhance the Simon experience - places where people choose to shop and retailers want to be. We deliver: 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 expertise in development, ownership, and management That s the advantage of leasing with Simon.

3 PROPERTY OVERVIEW THE CROSSINGS PREMIUM OUTLETS TANNERSVILLE, PA MAJOR METROPOLITAN AREAS SELECT TENANTS New York City Metro: Philadelphia Metro: RETAIL GLA (sq. ft.) 412,000; 100 stores OPENING DATE 70 miles 70 miles Opened July 1991 Expanded 1993, 1995, 1999, 2004 PARKING RATIO 4.75:1 RADIUS POPULATION 15 mile population: 201, mile population: 815, mile population: 2,290,728 AVERAGE HH INCOME American Eagle Outfitters, Ann Taylor Factory Store, Banana Republic Factory Store, Brooks Brothers Factory Store, Calvin Klein Company Store, Coach Factory Store, Cole Haan Outlet, The Converse Outlet Store, Forever 21, Gap Factory Store, J.Crew Factory, kate spade new york, Michael Kors Outlet, Movado Company Store, Nautica, NikeFactoryStore, The North Face, Polo Ralph Lauren Factory Store, Reebok Outlet, Tommy Hilfiger Company Store, Under Armour Factory House, White House Black Market TOURISM / TRAFFIC The Pocono Mountains region is a year-round vacation destination encompassing 2,400 square miles of wooded peaks and valleys offering over 72,000 acres of state forests, rivers, lakes, and some of the most scenic waterfalls in the East. This region is a favorite for outdoor enthusiasts providing a variety of activities including skiing (Camelback Mountain, Shawnee Mountain, Jack Frost Mountain, and Ski Big Bear), Delaware Water Gap National Recreation Area, golfing, casino, horseback riding, canoeing, hiking/camping and antiquing. The region houses over 80% of the state s resorts, earning $1.5 billion in gross revenues and employing over 18,000 workers. Recently, many communities have seen a rise in population attributable to vacationers from New York and New Jersey turning vacation homes into permanent residences Exit Tannersville THE CROSSINGS PREMIUM OUTLETS TANNERSVILLE, PA 209 PA Delaware Water Gap NJ mile average: $77,115 LOCATION / DIRECTIONS The Crossings Premium Outlets is located directly off, and has visibility from, I-80 (PA Exit 299) which has an average daily vehicle count of 58,600. The center is 13 miles from the Delaware Water Gap. Information accurate as of 5/1/15. Sources: SPG Research; trade area demographic information per Pitney Bowes MapInfo (2014).

4 SITE AND PLAN SR 715 SR 611 I-80 SULLIVAN TR. NORTH

5 SR 611 SR 715 I-80 FIRST FLOOR SECOND FLOOR

6 SURROUNDING AREA CENTERS p Rome Le Raysville Montrose H Callicoon da Hortonville Meshoppen Factoryville Tunkhannock Dalton Waverly 17 Noxen 5 Taylor 5 Upper Exeter Harveys Lake Pikes Creek amison City 12 Shavertown Browntown Courtdale Yatesville Silkworth Chase Hudson Plymouth Wilkes-Barre 18 Georgetown West Nanticoke 18 ller Benton Stillwater Glen Lyon Shickshinny Jonestown Sheatown Bear Creek Village Penn Lake Park Pocono Pines Saw Creek Crandon Lakes Kiryas Walton Park Ha Warwick Sussex Greenwood Lake Vernon Center Highland Lake Hamburg Branchville Pine Ridge Beav Washin Florida Vernon Valley Pocono Ranch Lands Mount Pocono Maybrook Mountai Goshen Unionville Birchwood Lakes Mountainhome Walde OtisvilleWashington Heights Mechanicstown Pocono Woodland Lakes Sunrise Lake Conashaugh Lakes Big Bass Lake Gouldsboro Watchtower Pine Bush Wal Port Jervis Matamoras Ross Corner Tuxedo Pa Sloatsbu HillburnM S Ringwood Franklin Ramsey Ogdensburg East Side Newton Nescopeck Hickory Hills White Haven Holiday Pocono Penn Estates Oakland Al Pardeesville Freeland W Lake Mohawk Albrightsville py Almedia Marksboro Sierra View Arlington Heights Bloomingdale Andover Midla Lattimer Jeddo Conyngham 16 Stroudsburg Indian Mountain Lake 2 Mainville Riverdale Hopatcong Kinnelon West Hazleton Johnsonburg G Delaware Water Gap Hainesburg Weatherly a Lake Telemark Nuremberg Byram Center Prospec Beaver Meadows Brodheadsville Columbia Hope Allamuchy Mount Arlington Oneida Elm Boonton btown 9 Netcong Rockaway East Bangor Sheppton Kelayres Delaware midia Mountain Lake Roseto Clifton Brandonville Victory Gardens Singac Jim Thorpe Nesquehoning Hackettstown Delano Ringtown Wind Gap Bangor CaldwellBrookd Bridgeville Morris Plains Succasunna Two Lansford Shenandoah Heights Weissport Grier City Ackermanville Essex Fells Beattystown n Number One Hometown Tamaqua Bowmanstown Morristown Belfast Hutchinson Port Murray Chester Ashland Englewood Silver La 15 Florham Park Brainards Mendham Port Colden Walnutport Long Valley Tuscarora Chapman Tatamy Cherryville East N lle Gordon Slatedale Chatham Harmony Broadway Cumbola Harrison Bath Heckscherville Califon Peapack and Gladstone Laurys Station Mechanicsville ake Upper Stewartsville Asbury New Providence Kenilworth Far Hills Seltzer 6 West Easton Cementon 7 Branchdale Mount Carbon McKeansburg New Tripoli High Bridge Phillipsburg Roselle Park Watchung North Catasauqua Schnecksville Alpha Bloomsbury Lebanon Fanwood Garwood Eliz Landingville aldson Cressona Freemansburg Fullerton Kempton 3 Deer Lake Clinton White House Station remont Finesville Rahway Friedensburg Fountain 10 Hill Cetronia Carter Green Knoll Lake Wynonah Port Clinton ne Middlesex Iselin Avenel Riegelsville Dorneyville Lenhartsville New Raritan Milford Summit Station Fords Sewaren 8 ne Grove South Bound Brook Trexlertown 14 Edenburg DeSales University Kutztown Weston Frenchtown Perth Amboy Virginville Shoemakersville Schubert Middlebush Coopersburg Flemington Topton Alburtis Millstone 4 11 Strausstown East Franklin Mertztown Centerport South Amboy Lyons Belle Mead Richlandtown Madison Park Rehrersburg HarlingenFranklin ParkMilltown Hereford Leesport Walnuttown Dryville Nort Bernville Milford Square Matawan Temple Skillman Ten Mile Run East Greenville Mount Aetna Key Trumbauersville Stockton Blawenburg Brownville Plumsteadville Bally Pennsburg South Temple Dayton Oley Perkasie Stouchsburg Helmetta Red Hill Hyde Park Morganville Dublin Hopewell Kingston Myerstown Lambertville Bechtelsville Jamesburg Womelsdorf Princeton Colony Park Silverdale New Hope Robertsville ebron Green Lane Boyertown Plainsboro Center Whittingham Springmont Pennington geville street Emerald Lakes Foundryville Simon Centers Competition Ga Montgomery Wallenpaupack Lake Estates Eagle Lake Pocono Springs Ellenville Wurtsboro Bloomingburg The Hideout Moscow SURROUNDING AREA CENTERS Cragsmoor Rock Hill Hawley Nuangola Mountain Top Mocanaqua Woodridge White Mills Fawn Lake Forest Mount Cobb Old Forge 12 Pittston Avoca Moosic Accord Napanoch Monticello Bethany Narrowsburg Prompton Honesdale Simpson Carbondale Jermyn Clarks Green Blakely Clarks Summit Dickson City Jessup 17 West Falls Throop Lake Winola ushore Smallwood Forest City Vandling Nicholson Kerhonkson South Fallsburg Union Dale Hop Bottom Wyalusing Laceyville any burg Liberty The Crossings Premium Outlets Laurel Mall Lehigh Valley Mall Liberty Village Premium Outlets The Mall at Steamtown Palmer Park Mall Phillipsburg Mall Promenade Shops at Saucon Valley Rockaway Townsquare The Outlets at Sands Bethlehem The Shoppes at Flemington The Shoppes at Montage The Shoppes at Union Hill South Mall The Streets of Chester Stroud Mall Viewmont Mall Wyoming Valley Mall

7 OTHER RETAIL SHOPPING CENTERS GROSS LEASABLE AREA ANCHORS DISTANCE / DRIVE-TIME Stroud Mall Stroudsburg, PA Palmer Park Mall Easton, PA 424,000 sf Bon-Ton, JCPenney, Sears 10 miles / 15 minutes 454,000 sf Bon-Ton, Boscov s 35 miles / 35 minutes The Mall at Steamtown Scranton, PA 564,000 sf Boscov s 40 miles / 50 minutes Viewmont Mall Scranton, PA 743,000 sf JCPenney, Macy s, Sears 40 miles / 50 minutes Wyoming Valley Mall Wilkes-Barre, PA 911,000 sf Bon-Ton, JCPenney, Macy s, Sears 40 miles / 50 minutes Lehigh Valley Mall Whitehall, PA Rockaway Townsquare Rockaway, NJ 1,181,000 sf Boscov s, Macy s, JCPenney 45 miles / 55 minutes 1,246,000 sf Lord & Taylor, Macy s, JCPenney, Sears 50 miles / 55 minutes OUTLET SHOPPING GROSS LEASABLE AREA ANCHORS DISTANCE / DRIVE-TIME Liberty Village Premium Outlets Flemington, NJ Philadelphia Premium Outlets Limerick Township, PA 162,000 sf 68 miles / 1 hour 18 minutes 549,000 sf Neiman Marcus Last Call 81 miles / 1 hour 41 minutes

8 60 Columbia Road Building B 3rd Floor Morristown, NJ (973) premiumoutlets.com Simon is a global leader in retail real estate ownership, management and development and an S&P 100 company (Simon Property Group, NYSE:SPG).