Simon Property Group — May 12, 2025 release

As of March 31, 2025, Simon had approximately $10.1 billion of liquidity consisting of  $1.9 billion of cash on hand, including its share of joint venture cash, and $8.2 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 second quarter of 2025. This is an increase of  $0.10, or 5.0% year-over-year. The dividend will be payable on June 30, 2025 to shareholders of record on June 9, 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 June 30, 2025 to shareholders of record on June 16, 2025. 2025 Guidance The Company’s estimates for net income attributable to common stockholders per diluted share and Real Estate FFO per diluted share for the year ending December 31, 2025 are included in the table below and are reconciled in the Company’s supplemental information. The Company is reaffirming its outlook for Real Estate FFO of  $12.40 to $12.65 per diluted share. ​ ​ ​ ​ Low End ​ ​ High End ​ ​ Estimated net income attributable to common stockholders per diluted share ​ ​ ​ $ 6.67 ​ ​ ​ ​ $ 6.92 ​ ​ ​ Estimated Real Estate FFO per diluted share ​ ​ ​ $ 12.40 ​ ​ ​ ​ $ 12.65 ​ ​ Conference Call Simon will hold a conference call to discuss t