Simon Property Group authorizes new $2.0B stock buyback, replacing prior $1.7B program

SIMON PROPERTY GROUP INC.

Board authorized up to $2.0B share repurchase over 24 months.
Replaces prior program with $1.7B remaining, set to expire May 16, 2024.
Repurchases may be made in open market or privately negotiated transactions at company's discretion.
Program is discretionary; no obligation to repurchase any amount; may be suspended anytime.

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