Simon Property Group, Inc. (SPG) Presents at BofA NY Global Real Estate Conference 2026 Transcript

Simon Property Group, Inc. ( SPG ) BofA NY Global Real Estate Conference 2026 September 16, 2026 3:45 PM EDT Company Participants Eli Simon - President, CEO, COO & Director Brian McDade - Executive VP & CFO Adam Reuille - Senior VP & Chief Accounting Officer Conference Call Participants Samir Khanal - BofA Securities, Research Division Jeffrey Spector - BofA Securities, Research Division Presentation Samir Khanal BofA Securities, Research Division Everybody, why don't we get started. So good afternoon. Welcome to the Simon Property Group roundtable. I'm very happy to have the Simon management team here with us today. Eli Simon CEO, Brian McDade, CFO. Let me turn it over to you, Eli, with some opening remarks. Eli Simon President, CEO, COO & Director Great. Thank you. Samir. It's great to be here. I will keep this brief so we can get to your questions. Overall, leasing demand remains unabated, big picture that the operating environment remains very favorable for us. Retailer demand is strong across our platforms, across categories and across geographies. Retailers continue to prioritize physical stores and demand for our space in our portfolio remains robust. Through the first half of the year, we signed more than 2,300 leases totaling over 9.5 million square feet. Approximately 27% were new deals and our pipeline is running well ahead of last year's pace. New deal rent per square foot is up 17% versus last year, while TAs per square foot are down 12%. Demand spans apparel, dining, entertainment and health and wellness. And what excites me most is the new and emerging brands coming to our centers from online, from Europe and from Asia. The consumer is showing up and continuing to show up at our centers. Shopper traffic is up and accelerated throughout the back-to-school period. Retailer sales are also up alongside