A joint venture between Tanger Outlets and Simon Property Group GALVESTON/HOUSTON, TEXAS

A joint venture between Tanger Outlets and Simon Property Group GALVESTON/HOUSTON, TEXAS

G A LV E S T O N / H O U S T O N, T E X A S houston is the fourth most populous city in the nation and is the largest in the southern u.s. and texas. houston has a diverse economic base and is a major business, financial, science and technology center. more than 100,000 vehicles travel daily on i-45 past the site. galveston sits only 20 miles south of the site and offers 32 miles of beaches, restaurants and top resort hotels. it attracts over 5 million visitors each year and is a popular getaway for houstonians. I - 4 5 & H o l l a n d R o a d T e x a s C i t y, T X 7 7 5 9 1 P 3 3 6. 2 9 2. 3 0 1 0 o r 8 0 0. 4 3 8. 8 4 7 4

center facts g r o s s l e a s a b l e a r e a 352,720 sf p o p u l a t i o n 5,784,976 d i r e c t i o n s General Directions: From Houston, South on I-45 to Exit 17, Holland Road. a n n ua l t o u r i s t s 31,000,000 h o u s t o n 5,000,000 g a lv e s t o n m a j o r c i t i e s Galveston, TX (20 miles) Houston, TX (30 miles)

market demographics I-45 & Holland Road Texas City, TX 77591 P 336.292.3010 or 800.438.8474 d e m o g r a p h i c i n f o r m a t i o n R a d i u s F r o m C e n t e r STATS 0-5 MILES 0-10 MILES 0-30 MILES 0-45 MILES 0-60 MILES Population 57,866 267,277 1,963,905 4,346,742 5,662,738 Households 21,150 101,219 674,924 1,509,781 1,953,241 Families 15,217 69,540 469,487 1,032,889 1,376,419 Average Age 35.7 35.7 33.0 32.9 33.2 Average Household Income $68,255 $71,935 $66,766 $70,639 $75,041 HOUSEHOLD INCOME 0-5 MILES 0-10 MILES 0-30 MILES 0-45 MILES 0-60 MILES Less than $15,000 9.9 % 9.2 % 12.9 % 11.8 % 10.3 % $15,000-$24,999 8.4 % 7.5 % 8.9 % 8.7 % 7.8 % $25,000-$34,999 10.2 % 8.4 % 9.5 % 9.4 % 8.7 % $35,000-$49,999 12.4 % 12.0 % 13.2 % 13.5 % 13.0 % $50,000-$74,999 24.4 % 25.1 % 23.5 % 23.4 % 23.4 % $75,000-$99,999 15.9 % 16.9 % 14.3 % 13.9 % 14.7 % $100,000-$149,999 13.9 % 14.7 % 11.8 % 12.0 % 13.7 % $150,000+ 5.0 % 6.2 % 5.9 % 7.2 % 8.2 % Age Distribution 0-5 Miles 0-10 Miles 0-30 Miles 0-45 Miles 0-60 Miles 0-14yrs 21.4 % 21.4 % 23.1 % 23.0 % 23.2 % 15-24yrs 13.4 % 13.1 % 14.6 % 14.6 % 14.0 % 25-44yrs 27.5 % 28.4 % 28.9 % 29.3 % 29.4 % 45-64yrs 26.5 % 26.7 % 24.1 % 24.2 % 24.6 % 65+ yrs 11.2 % 10.4 % 9.3 % 8.9 % 8.6 %

market snapshot I-45 & Holland Road Texas City, TX 77591 P 336.292.3010 or 800.438.8474 a r e a b u s i n e s s e s businesses Within 60 Miles Business Name Number of Employees Memorial Hermann Healthcare System 20,990 Administaff 17,511 The University of Texas Md Anderson 17,295 Continental Airlines 16,643 Kroger Co. 15,117 Exxon Mobil Corp. 14,356 H-E-B Grocery Co. 13,575 The Methodist Hospital 12,408 Shell Oil Co. 11,000

market snapshot I-45 & Holland Road Texas City, TX 77591 P 336.292.3010 or 800.438.8474 c o l l e g e s a n d a r e a a t t r a c t i o n s colleges and universities Within 60 Miles Name Enrollment distance University of Houston 36,000 28.0 Texas Southern University 9,500 29.0 Rice University 5,500 31.0 Houston Baptist University 2,500 39.0 area attractions Within 60 Miles Name distance Space Center Houston / Johnson Space Center 10.0 Kemah Boardwalk 11.0 Galveston Beaches 20.0 Minute Maid Park 29.0 Downtown Aquarium 31.0 Reliant Park 31.0 Houston Zoo 32.0

partner information I-45 & Holland Road Texas City, TX 77591 P 336.292.3010 or 800.438.8474 About Tanger Factory Outlet Centers, Inc. Tanger Factory Outlet Centers, Inc., (NYSE:SKT) is a publicly-traded REIT headquartered in Greensboro, North Carolina that operates and owns, or has ownership interests in, a portfolio of 34 upscale outlet shopping centers in 22 states coast-to-coast, totaling approximately 10.3 million square feet, leased to over 2,100 stores that are operated by more than 370 different brand name companies. More than 160 million shoppers visit Tanger Outlet Centers annually. For more information on Tanger Outlet Centers, call 1-800-4-TANGER or visit our website at www.tangeroutlet.com. ABOUT SIMON PROPERTY GROUP Simon Property Group, Inc. is an S&P 500 company and the largest public real estate company in the U.S. The company currently owns or has an interest in 392 retail real estate properties comprising 263 million square feet of gross leasable area in North America, Europe and Asia. Simon Property Group is headquartered in Indianapolis, Indiana and employs more than 5,000 people worldwide. The company s common stock is publicly traded on the NYSE under the symbol SPG. For further information, visit the Simon Property Group website at www.simon.com. Simon's outlet portfolio includes 69 Premium Outlet Centers including 57 in the United States, one in Puerto Rico, eight in Japan, two in Korea and one in Mexico.

think outlets. think tanger. Sparked by consumer s love of a bargain, in 1981 our founder, Stanley K. Tanger, created Tanger Outlet Centers and pioneered the dynamic outlet industry. Today, Tanger Factory Outlet Centers, Inc. is one of the largest owners and developers of outlet shopping centers nationwide. Pictured left to right: Tanger Outlets goes public. NYSE:SKT. Stanley K. Tanger, founder of Tanger Outlet Centers. Steven B. Tanger, president and chief executive officer and Stanley K. Tanger. Tanger s first outlet center in Burlington, NC. STANLEY K. TANGER (1923-2010) My father s legacy will be carried forward by all of us at Tanger Outlet Centers. He was an industry pioneer and had a vast knowledge of the company and the outlet industry. His vision and entrepreneurship made the company what it is today, one of the most dynamic and successful REITs in the industry. Steven B. Tanger President and Chief Executive Officer Having a history is one thing making history is another. Tanger Factory Outlet Centers, Inc. 3200 Northline Avenue Suite 360 Greensboro, NC 27408 Phone 336-292-3010 tangeroutlet.com NYSE:SKT

Corporate Headquarters 3200 Northline Avenue, Suite 360 Greensboro, NC 27408 P: 336-292-3010 x F: 336-292-2091 www.tangeroutlet.com A New York Stock Exchange Listed Company: SKT Corporate Headquarters 105 Eisenhower Parkway Roseland, NJ 07068 P: 973-228-6111 x F: 973-228-5363 www.premiumoutlets.com www.simon.com A New York Stock Exchange Listed Company: SPG