Simon Property Group (SPG) Proxy filing summary

Executive summary

• Shareholders are urged to vote in favor of Proposal 2, the advisory vote on executive compensation, at the 2026 Annual Meeting scheduled for May 13, 2026.

• The board emphasizes robust shareholder engagement and transparent disclosure regarding executive compensation practices.

• Forward-looking statements caution that actual results may differ due to various economic and market factors.

Voting matters and shareholder proposals

• Proposal 2 concerns the advisory vote on executive compensation, with the board unanimously recommending a FOR vote.

• Institutional Shareholder Services (ISS) recommended voting against Proposal 2, but the board disagrees, citing shareholder engagement and program adjustments.

• Voting instructions are provided for internet, telephone, mail, and during the virtual meeting.

Board of directors and corporate governance

• The board and Compensation Committee engaged extensively with shareholders to address concerns about executive compensation.

• Independent directors and the Compensation Committee committed to calibrating future awards and enhancing disclosure.

• Board leadership includes a Non-Executive Chairman and a dedicated Compensation & Human Capital Committee Chair.