Simon Property Group — Feb 4, 2025 release

As of December 31, 2024, Simon had approximately $10.1 billion of liquidity consisting of  $2.0 billion of cash on hand, including its share of joint venture cash, and $8.1 billion of available capacity under its revolving credit facilities. Dividends Today, Simon’s Board of Directors declared a quarterly common stock dividend of  $2.10 for the first quarter of 2025. This is an increase of  $0.15, or 7.7% year-over-year. The dividend will be payable on March 31, 2025 to shareholders of record on March 10, 2025. Simon’s Board of Directors declared the quarterly dividend on its 8 3/8% Series J Cumulative Redeemable Preferred Stock (NYSE: SPGPrJ) of  $1.046875 per share, payable on March 31, 2025 to shareholders of record on March 17, 2025.   ​   4Q 2024 SUPPLEMENTAL ​ ​ ​ ​ 3   ​ TABLE OF CONTENTS   EARNINGS RELEASE 2025 Guidance The Company currently estimates net income to be within a range of  $6.95 to $7.20 per diluted share and Real Estate FFO and FFO to be within a range of $12.40 to $12.65 per diluted share for the year ending December 31, 2025. The following table provides the GAAP to non-GAAP reconciliation for the expected range of estimated net income attributable to common stockholders per diluted share to estimated Real Estate FFO and FFO per diluted share: For the year ending December 31, 2025 ​ ​ ​ ​ Low End ​ ​ High End ​ ​ Estima