Notes:  December 29, 2020 -- The merger between Taubman Centers, Inc. and Simon Property Group, Inc. became effective before market open on December 29, 2020. Each share of common stock was converted into USD 43.00 in cash; each share of 6.500% Series J Cumulative Redeemable Preferred Stock will be redeemed for $25 per share plus any accrued and unpaid dividends from January 1, 2021, up to, but not including, the Redemption Date, without interest, in an amount equal to $0.121875 per share, for a total payment of $25.121875; and each share of 6.25% Series K Cumulative Redeemable Preferred Stock will be redeemed for $25 per share plus any accrued and unpaid dividends from January 1, 2021 June 25,. 2020 -- Taubman Centers, Inc. (NYSE: TCO) (the “Company”) announced that, at a special meeting of shareholders, its shareholders today approved and adopted the previously announced merger agreement (the “Merger Agreement”), dated as of February 9, 2020, among the Company, The Taubman Realty Group Limited Partnership (together with the Company, “Taubman”), Simon Property Group, Inc. (NYSE: SPG) (“Simon”) and certain other parties, and the transactions contemplated by the Merger Agreement (the “Transactions”). June 10, 2020 -- Taubman Centers, Inc. (NYSE: TCO) (“Taubman”) confirmed that Simon Property Group, Inc. (“Simon”) has today delivered a notice purporting to terminate the previously announced Agreement and Plan of Merger among Simon, Taubman, The Taubman Realty Group Limited Partnership (“TRG”) and other parties. Taubman believes that Simon’s purported termination of the Merger Agreement is invalid and without merit, and that Simon continues to be bound to the transaction in all respects. Taubman intends to hold Simon to its obligations under the Merger Agreement and the agreed transaction, and to vigorously contest Simon’s purported termination and legal claims. Taubman intends to pursue its remedies to enforce its contractual rights under the Merger Agreement, including, among other things, the right to specific performance and the right to monetary damages, including damages based on the deal price. February 11, 2020 -- Simon Property Gorup, Inc has entered a merger agreement with Taubman Centers, Inc. If the REIT Merger is completed, holders of Taubman common stock will be entitled to receive $52.50 in cash for each share of Taubman common stock held (the “common stock merger consideration”) and holders of Taubman Series B preferred stock will be entitled to receive, for each share of Taubman Series B preferred stock held, an amount in cash equal to the common stock merger consideration, divided by 14,000 (the “Series B preferred stock merger consideration”). If the Partnership Merger is completed, holders of units of partnership interest in the Taubman operating partnership (each, a “Taubman OP unit”) who are not one of the Taubman family members (as defined below) will be entitled to receive, for each Taubman OP unit held, at their election, the common stock merger consideration or 0.3814 limited partnership units in the Simon operating partnership (each, a “Simon OP unit”), certain Taubman OP units held by the Taubman family members will remain outstanding as units of partnership interest in the Surviving Taubman operating partnership, and all other Taubman OP units held by the Taubman family members will be converted into the right to receive the common stock merger consideration. Following the Mergers and the LLC Conversion, the Simon operating partnership will own 100% of the outstanding equity of Surviving TCO, Surviving TCO will own 80% of the limited liability company interests of the Joint Venture and the Taubman family members will own the remaining 20% of the limited liability company interests of the Joint Venture (assuming, for purposes of this calculation, that Taubman OP units issuable under the Option Deferral Agreement are outstanding interests of the Joint Venture).

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HOME PAGE:     http://www.taubman.com/
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Email Address

ewright@taubman.com

Address and Phone Numbers

Address:   200 East Long Lake Road, Suite 300, Blomfield Hills, MI 48304
Main Phone Number	248-258-6800
Fax Number	248-258-7697
Investor Relations   Erik Wright	248-258-7390
Toll Free Phone Number	Unknown

CEO - Robert S. Taubman

CFO - Simon J. Leopold