Shisui Premium Outlets Phase 3 Opens With the Launch of New Brand Stores. Expansion opens Friday September 28, 2018

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To Members of the Press: July 10, 2018 Mitsubishi Estate Simon Co., Ltd. Shisui Premium Outlets Phase 3 Opens With the Launch of New Brand Stores A total of 29 stores at launch, featuring fashion brands, sports brands and in vogue cafes alongside never before seen outlet brands Expansion opens Friday September 28, 2018 Mitsubishi Estate Simon Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo; Chief Executive Officer : Takuro Yamanaka) has set the opening date for the phase 3 opening to Shisui Premium Outlets (Shisui-machi, Inba-gun, Chiba) to Friday September 28, 2018. Shisui Premium Outlets first opened its doors in April 2013 as Mitsubishi Estate Simon Co., Ltd. s ninth premium outlet center in Japan. With its convenient location just 50 minutes from the center of Tokyo and 10 minutes from Narita International Airport, Shisui Premium Outlets has served a total of over 30 million customers from both Japan and abroad since its opening through to June 2018. (Cumulative number of customers making a purchase from April 2013 to June 2018 * ) The phase 3 opening introduces 29 stores, including 26 retail stores (including two stores that have relocated from an existing area within the centerl) and three restaurants. This brings the total number of stores for the entire outlet mall up to 213, making it one of the largest premium outlets in terms of the range of stores on offer. A particular focus has been put on expanding the center s range of fashion and sports brand stores. Merell makes its first appearance as a permanent store in a Japanese outlet mall, together with MSPC PRODUCT sort, a new type of outlet store centered on their bag brand Master Piece. In addition, Takashimaya, U.K. outdoor lifestyle brand Barbour permanent store, Descente - a sports brand of significant renown both inside and outside Japan, and BAYFLOW - a popular high quality casual style brand, all make their first appearance in a Kanto outlet mall. The site expansion further enriches the lineup of brands with popular trench coat brand Aquascutum, Furla - an Italian brand that has attracted a large following among young women, together with the relocation and expansion of the Michael Kors store. The new dining selections include the J.S. PANCAKE CAFE - a pancake specialty cafe that only uses 100% Japanese wheat flour, Cafe comme ca - a cafe renowned for its splendid selection of cakes made with carefully selected seasonal ingredients, and MACCHA HOUSE - a store with nine overseas locations, largely throughout Asia. The expansion also provides new spaces that provide visitors with a greater level of comfort, including an outdoor garden area, perfect for relaxing amidst the beautiful tranquility of nature while shopping. We see this third expansion to Shisui Premium Outlets as a further evolution of Shisui Premium Outlets as a whole, one that increases the outlet mall s appeal to both customers from Japan and abroad. * Total number of customers: Number of users at the abovementioned facilities Overview (artist s impression) Outdoor garden area (artist s impression) <Please send media inquiries regarding this matter to the following> Marketing Department, Mitsubishi Estate Simon Co., Ltd. pr@premiumoutlets.co.jp

Fashion Sports & Outdoors 1 23Ku Ladies' wear 1 Adidas Sportswear, outdoors 2 Anteprima Ladies' wear 2 Reebok Sportswear, outdoors 3 Aquascutum Ladies' wear, Men's wear First outlet store in Chiba 3 Descente Sportswear, outdoors First outlet store in Kanto 4 Barbour Ladies' wear, Men's wear First permanent outlet store in Kanto 4 Merrell Sportswear, outdoors First permanent outlet store in Japan 5 Bayflow Ladies' wear, Men's wear First outlet store in Kanto 5 Under Armour Sportswear, outdoors 6 Champion Ladie's wear, Men's wear, Kids' wear 7 Etro Ladies' wear, Men's wear 8 Takashimaya Ladie's wear, Men's wear, Kids' wear 9 Theory Ladies' wear, Men's wear First outlet store in Kanto Interiors & Household Goods 1 Bose Audio equipment 10 Spick and Span Ladies' wear 11 Journal Standard Ladies' wear, Men's wear 12 Edifice Men's wear 13 Iena Ladies' wear Food & Cafe 1 Cafe Comme Ca Food & café Fashion Accessories 2 J.S. Pancake Café Food & café 3 Maccha House Food & café First store in Chiba First store in Chiba 1 Bally Shoes, bags 2 Furla Shoes, bags 3 Kate Spade New York Bags, purses, accessories Relocation & Expansion Brand name Category 4 MSPC Product Sort Bags, shoes, leather goods First outlet store as a new type 1 Oakley Sportswear, outdoors 5 Tumi Bags 2 Michael Kors Bags, shoes, purses Kanto: Tokyo, Ibaraki Pref., Tochigi Pref., Gunma Pref., Saitama Pref., Chiba Pref., Kanagawa Pref. Phase 3 Area Map [Shisui Premium Outlets Summary]

Address 2-4-1 Iizumi, Shisui-machi, Inba-gun, Chiba Size Phase 1 After Phase 2 opening Phase 3 After Phase 3 opening Opening date April 19, 2013 April 17, 2015 September 28, 2018 - Site area Approx. 197,200 m 2 Approx. 421,000 m 2 Approx. 421,000 m 2 Retail space Approx. 21,700 m 2 Approx. 35,600 m 2 Approx. 6,300 m 2 Approx. 41,900 m 2 No. of stores 121 stores 184 stores 29 stores 213 stores No. of parking spaces Operating hours Holidays Approx. 3,500 spaces Approx. 4,200 spaces Approx. 800 spaces Approx. 5,000 spaces 10:00 ~ 20:00 (May vary for some stores and depending on the season) Once a year, on the third Thursday in February HP Access https://www.premiumoutlets.co.jp/ 1 km from the Shisui IC on the Higashikanto Expressway Approximately 20 minutes by route bus from the Keisei Shisui Station, approximately 15 minutes by route bus from the JR Shisui Station *The number of stores is counted by the number of brands. [Mitsubishi Estate Simon Co., Ltd.] Mitsubishi Estate Simon Co., Ltd. is a joint venture between Mitsubishi Estate Co., Ltd. and Simon Property Group, Inc. Mitsubishi Estate Simon Co., Ltd. focuses on developing, owning and managing highquality outlet shopping centers in Japan. At the present time, Mitsubishi Estate Simon Co., Ltd. operates nine Premium Outlet Centers in Japan listed below. The global Simon Premium Outlets portfolio includes outlets in the U.S. such as Woodbury Common Premium Outlets in suburban New York, Desert Hills Premium Outlets in suburban Los Angeles, Waikele Premium Outlets in Honolulu, Hawaii, as well as outlets in South Korea, Canada, Mexico, Puerto Rico and Malaysia. *PREMIUM OUTLET SHOPPING and PREMIUM OUTLETS are trademarks of Simon Property Group, Inc.

<Attachment> [Premium Outlets in Japan] Gotemba Premium Outlets Rinku Premium Outlets Sano Premium Outlets 1312 Fukasawa, Gotemba-shi, Shizuoka Opened July 2000 2nd period expansion July 2003 3rd period expansion March 2008 Retail space approx. 44,600 m 2 3-28 Rinku Ourai Minami, Izumisanoshi, Osaka 2058 Koena-cho, Sano-shi, Tochigi Opened November 2000 Opened March 2003 2nd period expansion March 2002 2nd period expansion July 2004 3rd period expansion December 3rd period expansion March 2006 2004 4th period expansion July 2008 4th period expansion July 2012 Retail space approx. 39,400 m 2 Retail space approx. 37,300 m 2 Around 170 stores Phase 4 expansion due to open spring Tosu Premium Outlets Toki Premium Outlets Kobe-Sanda Premium Outlets 8-1 Yayoigaoka, Tosu-shi, Saga 1-2 Tokigaoka, Toki-shi, Gifu Opened March 2004 2007 3rd period expansion July 2011 Retail space approx. 28,200 m 2 Around 150 stores Opened March 2005 2nd period expansion October 2006 3rd period expansion July 2010 4th period expansion November 2014 Retail space approx. 35,200 m 2 Around 180 stores 7-3 Kouzudai, Kita-ku, Kobe-shi, Hyogo Opened July 2007 2009 3rd period expansion December 2012 Retail space approx. 42,200 m 2

Sendai-Izumi Premium Outlets 6-1-1 Teraoka, Izumi-ku, Sendaishi, Miyagi Opened October 2008 Retail space approx. 15,300 m 2 Around 80 stores Ami Premium Outlets 4-1-1 Yoshiwara, Ami, Inashiki, Ibaraki Opened July 2009 2011 Retail space approx. 30,700 m 2 Around 150 stores