Simon 2018 Proxy Statement

FREQUENTLY ASKED QUESTIONS AND ANSWERS

WHAT ARE THE BOARD’S RECOMMENDATIONS ON HOW I SHOULD VOTE MY SHARES?

The Board recommends that you vote your shares as follows: • Proposal 1: FOR the election of all thirteen director nominees named in this Proxy Statement. • Proposal 2: FOR the advisory vote to approve the compensation of our Named Executive Officers. • Proposal 3: FOR the ratification of the appointment of Ernst & Young LLP as our independent registered public accounting firm for 2018. • Proposal 4: AGAINST the Shareholder Proposal. If you sign and return a proxy card without indicating how you want your shares to be voted, the persons named as proxies will vote your shares as follows: • Proposal 1: FOR the election of all thirteen director nominees named in this Proxy Statement. • Proposal 2: FOR the advisory vote to approve the compensation of our Named Executive Officers. • Proposal 3: FOR the ratification of the appointment of Ernst & Young LLP as our independent registered public accounting firm for 2018. • Proposal 4: AGAINST the Shareholder Proposal. For the Annual Meeting, abstentions will have no effect on the outcome of Proposal 1: Election of Directors, Proposal 2: Advisory Vote to Approve the Compensation of our NEOs, Proposal 3: Ratification of Independent Registered Public Accounting Firm and Proposal 4: A Shareholder Proposal because abstentions do not count as votes cast under the majority of votes cast standard. However, abstentions will be considered present and entitled to vote at the Annual Meeting and will be counted towards determining whether or not a quorum is present. A broker non-vote occurs when a nominee, such as a broker, holding shares for a beneficial owner does not vote on a particular proposal because the nominee does not have discretionary authority to vote for that particular proposal and has not received instructions from the beneficial owner as to how to vote its shares. Proposals 1, 2 and 4 fall into this category. If you do not provide your broker with voting instructions, any of your shares held by the broker will not be counted as having been voted on any of these proposals. We do not expect there to be any broker non-votes with respect to Proposal 3, as brokers are entitled to vote on the ratification of independent registered accounting firms. ‘‘Broker non-votes’’ will be considered present at the Annual Meeting and will be counted towards determining whether or not a quorum is present. HOW WILL ABSTENTIONS BE TREATED? WHAT ARE BROKER NON-VOTES AND HOW WILL BROKER NON-VOTES BE TREATED? HOW WOULD MY SHARES BE VOTED IF I DO NOT SPECIFY HOW THEY SHOULD BE VOTED?

50 SIMON PROPERTY GROUP 2018 PROXY STATEMENT