CARLSBAD PREMIUM OUTLETS

CARLSBAD PREMIUM OUTLETS

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.

PROPERTY OVERVIEW CARLSBAD PREMIUM OUTLETS CARLSBAD, CA MAJOR METROPOLITAN AREAS San Diego: 30 min. south Southern Orange County: 45 min. north RETAIL GLA (sq. ft.) 289,000; 90 stores OPENING DATES Opened 1997 Expanded 1999, 2001 PARKING RATIO 5.0:1 RADIUS POPULATION 15 mile population: 823,592 30 mile population: 2,263,682 45 mile population: 4,391,338 AVERAGE HH INCOME 30 mile average: $91,528 SELECT TENANTS adidas, Banana Republic Factory Store, Barneys New York Warehouse, BCBGMAXAZRIA, Brooks Brothers Factory Store, Calvin Klein Company Store, Coach, Coach Men s, Cole Haan Outlet, DKNY Company Store, Elie Tahari Outlet, Gap Outlet, GUESS Factory Store, JOE s Jeans, kate spade new york, LACOSTE Outlet, Michael Kors Outlet, NikeFactoryStore, Polo Ralph Lauren Factory Store, Theory, Tommy Hilfiger Company Store, True Religion, Tumi, Vince. TOURISM / TRAFFIC San Diego is one of the top vacation destinations in the United States with 70 miles of beaches, mountains and desert, exciting attractions, a rich heritage and a year-round temperate climate. Annually, there are over 32 million visitors to San Diego, of which over 16 million are overnight visitors. Carlsbad, CA is home to Legoland California which attracts two million visitors each year and The Flower Fields. Other attractions in the Southern California region include the San Diego Zoo, Disneyland, Universal Studios, SeaWorld and Knott s Berry Farm. Vehicle travel on I-5 is nearly 200,000 daily. Traffic counts on Palomar Airport Road at Paseo del Norte are in excess of 55,000 daily and just over 20,000 at Cannon Road and Paseo del Norte. CARLSBAD PREMIUM OUTLETS CARLSBAD, CA LOCATION / DIRECTIONS Located in the north coastal region of San Diego County, immediately off I-5, the primary north-south transportation corridor between Los Angeles and San Diego, and 75 miles south of Los Angeles, California. Information accurate as of 5/1/15. Sources: SPG Research; trade area demographic information per Pitney Bowes MapInfo (2014). From Interstate 5: Exit Palomar Airport Rd. and head east (northbound turn right, southbound turn left). One-half block east of I-5, turn left at the first stop light onto Paseo del Norte.

SITE AND PLAN SAN DIEGO I-5 LOS ANGELES PASEO DEL NORTE CAR COUNTRY DRIVE NORTH

SAN DIEGO I-5 LOS ANGELES PASEO DEL NORTE

gnal Hill SURROUNDING AREA CENTERS Villa Park Rossmoor Seal Beach 14 14 22 Garden Grove 22North Tustin Stanton Midway City 28 Santa Ana 2 Sunset Beach Fountain Valley Huntington Beach 19 2 19 Costa Mesa 5 Perris Good Hope Temescal Valley Tustin 11 Newport 5 Beach 99 Lake Forest Meadowbrook Lakeland Village 10 Idyllwild-Pine Cove Palm Mountain Center SURROUNDING AREA CENTERS Simon Centers Competition 215 Wildomar 10 Laguna Woods Aliso Viejo Rancho Mirage Valle Vista East Hemet Menifee 15 Rancho Santa Margarita San Jacinto Green Acres 11 Springs Warm Irvine 405 Nuevo Romoland French Valley Las Flores Murrieta 18 18 Ranch Ladera Laguna Beach Laguna Niguel Anza 17 17 San Juan Capistrano Lake Riverside Temecula Dana Point Aguanga San Clemente Rainbow Fallbrook 5 Camp Pendleton North Bonsall Borre Camp Pendleton South Hidden Meadows 26 26 Vista 1 15 MILES Escondido Carlsbad 24 24 7 7 Julian Ramona Encinitas Rancho Santa Fe 30 MILES 45 MILES San Diego Country Estates Poway Solana Beach 4 15 Del4Mar San Diego 27 27 Eucalyptus Hills 8 Santee Winter Gardens 8 66 2323 Bostonia 16Cajon El 16 20 Mount Lagun Descanso Alpine 20 Pine Valley Crest 8 Casa de Oro-Mount Helix Lemon Grove 21 21 La Presa Jamul 25 Bonita 13 3 Chula Vista 13 National City 25 Coronado Campo 3 Potrero 805 121512 15 Imperial Beach MEXICO 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Carlsbad Premium Outlets Bella Terra Chula Vista Center Del Mar Plaza Fashion Island Fashion Valley Mall The Forum at Carlsbad S/C Grossmont Center Irvine Spectrum Center Laguna Hills Mall Lake Elsinore Outlets Las Americas Premium Outlets Otay Ranch Town Center The Outlets at Orange Outlets at the Border Parkway Plaza The Promenade in Temecula The Shops at Mission Viejo South Coast Plaza Viejas Outlet Center Westfield Horton Plaza Westfield Mainplace Westfield Mission Valley Westfield North County Westfield Plaza Bonita Westfield Plaza Camino Real Westfield UTC

OTHER RETAIL SHOPPING CENTERS GROSS LEASABLE AREA ANCHORS DISTANCE / DRIVE-TIME Westfield Carlsbad Carlsbad, CA 1,149,000 sf JCPenney, Macy s Home, Macy s Women, Sears 8 miles / 10 minutes Westfield North County Escondido, CA 1,255,000 sf Macy s, Nordstrom, JCPenney 18 miles / 30 minutes Westfield UTC San Diego, CA 1,037,000 sf Macy s, Nordstrom, Sears 25 miles / 30 minutes Fashion Valley San Diego, CA 1,721,000 sf Neiman Marcus, Nordstrom, Bloomingdale s, Macy s, JCPenney 30 miles / 40 minutes Westfield Horton Plaza San Diego, CA 891,000 sf Macy s, Nordstrom 35 miles / 40 minutes The Shops at Mission Viejo Mission Viejo, CA 1,151,000 sf Nordstrom, Macy s 43 miles / 55 minutes Laguna Hills Mall Laguna Hills, CA 792,000 sf JCPenney, Macy s, Sears 48 miles / 55 minutes Fashion Island Newport Beach, CA 1,200,000 sf Bloomingdale s, Bloomingdale s Home Store, Macy s, Neiman Marcus 53 miles / 1 hour South Coast Plaza Costa Mesa, CA 2,700,000 sf Macy s, Nordstrom, Saks Fifth Avenue, Sears 56 miles / 1 hour 15 minutes OUTLET SHOPPING GROSS LEASABLE AREA ANCHORS DISTANCE / DRIVE-TIME Las Americas Premium Outlets San Diego, CA Lake Elsinore Outlets Lake Elsinore, CA Viejas Outlet Center Alpine, CA 555,000 sf 50 miles / 55 minutes 369,000 sf 55 miles / 1 hour 10 minutes 255,000 sf 60 miles / 1 hour 10 minutes Desert Hills Premium Outlets Cabazon, CA 651,000 sf Neiman Marcus Last Call, Saks Fifth Avenue OFF 5TH 85 miles / 1 hour 36 minutes

60 Columbia Road Building B 3rd Floor Morristown, NJ 07960 (973) 228-6111 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).