SPG adopts OPI Incentive Program linking executive pay to non-core investment success

SIMON PROPERTY GROUP INC.

Program adopted Nov 2, 2023; awards pool equals 9.9% of net proceeds above 8% preferred return hurdle.
Initial Allocation Percentages: David Simon 40% each for ABG, ABG-SPG ES, SPARC; 30% each for JCP, RGG; 20% for Jamestown.
Brian McDade, Steven Fivel, John Rulli, Adam Reuille received allocations from 2% to 15% across six investments.
Awards are equity-based with three-year vesting; forfeited on termination; responsive to 2023 say-on-pay feedback.

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