Investor Presentaiton

CONCENTRATED IN TOP MARKETS With Strong Demographics Focused Exposure to Strong Markets NOI by MSA Providence, RI 4% Hampton Roads, VA 4% Grand Rapids, MI 5% Florence, SC 3% Jacksonville, NC 4% Other 13% Scranton, PA 4% DC 24% Philadelphia Population 3,000,000 2,500,000 2,000,000 1,500,000 1,000,000 500,000 Comparative Demographics 0 $60,000 $70,000 • CBL CBL PROPERTIES PREIT WASHINGTON PRIME GROUP™ MACERICH SIMON™ • Taubman $80,000 $90,000 $100,000 $110,000 Income 39% Source: Evercore ISI Annual Demographic Update for the Retail REITs dated 3/11/19 PREIT 12

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