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Q1 2020 Core OperationsAdditional Information

A s a t M a r c h 3 1 , 2 0 2 0

B R O O K F I E L D P R O P E R T Y P A R T N E R S L . P .

1

TABLE OF CONTENTS

PageCore Office Portfolio Listing 2Core Office Top Tenants 8Core Retail Portfolio Listing 9Core Retail Top Tenants 12Core Office Debt Listing 13Core Retail Debt Listing 17

2

PORTFOLIO LISTINGCore Office

Assets Under Management Proportionate

(Square Feet in 000's)Number of Properties Occupancy Office Retail Leasable

Parking &(1)

Other Total Own % Office Retail LeasableParking &

(1)

Other Total

United States PropertiesMidtown New York300 Madison Avenue 1 100.0 % 1,104 30 1,134 14 1,148 100 % 1,104 30 1,134 14 1,148333 W 34th Street 1 100.0 % 311 21 332 17 349 18 % 56 4 60 3 63One Manhattan West

(2)1 93.8 % 2,079 3 2,082 — 2,082 41 % 853 1 854 — 854

Five Manhattan West(2)

1 97.9 % 1,567 163 1,730 10 1,740 41 % 637 66 703 4 707The Lofts at Manhattan West

(2)1 83.0 % 186 4 190 12 202 41 % 75 2 77 5 82

Grace Building(2)

1 91.3 % 1,516 41 1,557 65 1,622 31 % 463 12 475 20 4956 95.3 % 6,763 262 7,025 118 7,143 47 % 3,188 115 3,303 46 3,349

Downtown New YorkBrookfield Place 200 Liberty Street 1 93.1 % 1,607 52 1,659 80 1,739 73 % 1,166 38 1,204 58 1,262 225 Liberty Street 1 96.5 % 2,400 3 2,403 175 2,578 73 % 1,741 3 1,744 126 1,870 200 Vesey Street 1 99.9 % 1,257 2 1,259 2 1,261 73 % 912 2 914 1 915 250 Vesey Street 1 100.0 % 1,755 — 1,755 195 1,950 73 % 1,274 — 1,274 141 1,415 Brookfield Place Retail — 88.9 % — 301 301 27 328 73 % — 218 218 20 238 300 Vesey Street 1 98.2 % 548 11 559 — 559 73 % 398 8 406 — 406One Liberty Plaza

(2)1 97.7 % 2,339 7 2,346 — 2,346 37 % 866 2 868 — 868

One New York Plaza(2)

1 97.2 % 2,510 71 2,581 65 2,646 11 % 273 8 281 7 288Bleecker Street Retail 1 79.5 % — 14 14 9 23 73 % — 10 10 7 17

8 97.1 % 12,416 461 12,877 553 13,430 54 % 6,630 289 6,919 360 7,279Washington, D.C.701 Ninth Street 1 100.0 % 364 — 364 145 509 100 % 364 — 364 145 509Potomac Tower 1 93.8 % 242 — 242 148 390 100 % 242 — 242 148 390601 South 12th Street 1 100.0 % 305 — 305 179 484 100 % 305 — 305 179 484701 South 12th Street 1 100.0 % 249 — 249 178 427 100 % 249 — 249 178 4273 Bethesda Metro Center 1 81.1 % 367 1 368 457 825 100 % 367 1 368 457 825One Reston Crescent 1 100.0 % 186 — 186 272 458 100 % 186 — 186 272 458Silver Spring Metro Plaza 3 82.5 % 652 45 697 184 881 84 % 550 38 588 154 742Two Reston Crescent 1 73.5 % 183 2 185 233 418 100 % 183 2 185 233 418650 Massachusetts Avenue

(2)1 70.8 % 301 25 326 93 419 40 % 120 10 130 37 167

77 K Street(2)

1 100.0 % 321 4 325 86 411 40 % 128 1 129 34 163799 Ninth Street

(2)1 98.6 % 193 11 204 55 259 40 % 77 4 81 22 103

1200 K Street(2)

1 100.0 % 365 3 368 119 487 40 % 145 1 146 48 1941400 K Street

(2)1 93.2 % 184 10 194 86 280 40 % 73 4 77 34 111

1250 Connecticut Avenue(2)

1 84.9 % 162 18 180 57 237 40 % 65 7 72 22 94Bethesda Crescent

(2)4 89.9 % 264 23 287 148 435 40 % 105 9 114 59 173

Victor Building(2)

1 69.3 % 294 23 317 110 427 40 % 117 9 126 44 170Reston Summit 2 94.8 % 289 2 291 — 291 100 % 289 2 291 — 291655 New York Avenue

(2)1 88.7 % 671 91 762 205 967 25 % 168 22 190 52 242

24 89.4 % 5,592 258 5,850 2,755 8,605 69 % 3,733 110 3,843 2,118 5,961(1)

Parking square feet reflects the application of a consistent measurement methodology of 350 square feet per parking space(2)

Represents jointly controlled entities

3

Core OfficePORTFOLIO LISTING (CONT'D)



Parking &(1)


(1)

Other Total

United States Properties continuedLos AngelesFigueroa at Wilshire 1 86.3 % 1,032 7 1,039 272 1,311 47 % 488 3 491 129 620Bank of America Plaza 1 86.9 % 1,381 24 1,405 801 2,206 47 % 653 12 665 379 1,044Ernst & Young Plaza 1 76.8 % 957 7 964 671 1,635 47 % 453 3 456 317 773FIGat7th 1 90.1 % — 316 316 194 510 47 % — 150 150 91 241Wells Fargo Center - North Tower 1 87.6 % 1,324 77 1,401 501 1,902 47 % 626 37 663 237 900Wells Fargo Center - South Tower 1 62.7 % 1,122 3 1,125 596 1,721 47 % 531 1 532 282 814The Gas Company Tower 1 86.6 % 1,331 14 1,345 878 2,223 47 % 630 6 636 416 1,052777 Tower 1 77.4 % 1,025 — 1,025 370 1,395 47 % 485 — 485 175 660Marina Towers

(2)2 95.1 % 356 16 372 388 760 42 % 150 7 157 164 321

10 82.1 % 8,528 464 8,992 4,671 13,663 47 % 4,016 219 4,235 2,190 6,425HoustonTotal Plaza 1 93.2 % 822 11 833 61 894 100 % 822 11 833 61 894Heritage Plaza 1 98.9 % 1,106 29 1,135 699 1,834 10 % 111 2 113 70 183One Allen Center 1 85.9 % 904 59 963 43 1,006 84 % 762 49 811 37 848Two Allen Center 1 63.5 % 979 7 986 59 1,045 84 % 825 6 831 50 881Three Allen Center 1 82.6 % 1,172 1 1,173 89 1,262 84 % 988 1 989 75 1,0641600 Smith Street 1 56.1 % 1,048 19 1,067 933 2,000 84 % 884 15 899 787 1,686

6 79.9 % 6,031 126 6,157 1,884 8,041 69 % 4,392 84 4,476 1,080 5,556DenverRepublic Plaza

(2)1 89.0 % 1,276 62 1,338 511 1,849 50 % 638 31 669 255 9241 89.0 % 1,276 62 1,338 511 1,849 50 % 638 31 669 255 924

San Francisco685 Market Street 1 100.0 % 187 12 199 6 205 50 % 93 7 100 2 102One Post Street 1 80.2 % 406 18 424 — 424 25 % 102 4 106 — 106

2 86.5 % 593 30 623 6 629 33 % 195 11 206 2 208Total United States Properties 57 89.7 % 41,199 1,663 42,862 10,498 53,360 56 % 22,792 859 23,651 6,051 29,702(1)



4

PORTFOLIO LISTING (CONT'D)



Parking &(1)


(1)

Other Total

Canada PropertiesTorontoBrookfield Place Bay Wellington Tower 1 99.7 % 1,296 43 1,339 68 1,407 100 % 1,296 43 1,339 68 1,407 Retail and Parking 1 97.4 % — 51 51 504 555 56 % — 28 28 283 311 22 Front Street 1 100.0 % 136 7 143 1 144 100 % 136 7 143 1 144Exchange Tower 1 94.9 % 954 66 1,020 205 1,225 50 % 477 33 510 102 612105 Adelaide Street West 1 100.0 % 177 6 183 31 214 100 % 177 6 183 31 214Hudson's Bay Centre 1 99.1 % 535 215 750 175 925 100 % 535 215 750 175 925First Canadian Place 1 99.5 % 2,377 225 2,602 212 2,814 25 % 594 56 650 54 704Bay Adelaide - West Tower 1 99.3 % 1,157 13 1,170 166 1,336 50 % 578 7 585 83 668Bay Adelaide - East Tower 1 100.0 % 1,014 21 1,035 149 1,184 50 % 507 11 518 74 592Bay Adelaide Retail (Below Grade) — 100.0 % — 7 7 123 130 100 % — 7 7 123 1302 Queen Street East 1 100.0 % 459 17 476 70 546 25 % 115 4 119 18 137

10 99.0 % 8,105 671 8,776 1,704 10,480 56 % 4,415 417 4,832 1,012 5,844CalgaryBankers Hall 3 97.4 % 1,944 222 2,166 482 2,648 50 % 972 111 1,083 241 1,324Bankers Court 1 99.8 % 257 6 263 70 333 50 % 128 4 132 34 166Suncor Energy Centre 2 98.0 % 1,708 24 1,732 349 2,081 50 % 854 12 866 174 1,040Brookfield Place Calgary East Tower 1 89.2 % 1,418 19 1,437 20 1,457 100 % 1,418 19 1,437 20 1,457Fifth Avenue Place 2 83.3 % 1,526 54 1,580 294 1,874 50 % 763 27 790 147 937

9 92.9 % 6,853 325 7,178 1,215 8,393 59 % 4,135 173 4,308 616 4,924OttawaPlace de Ville I 2 86.5 % 569 14 583 364 947 25 % 142 4 146 91 237Place de Ville II 2 95.8 % 589 6 595 332 927 25 % 147 2 149 83 232Other 1 100.0 % — 3 3 — 3 100 % — 3 3 — 3

5 91.2 % 1,158 23 1,181 696 1,877 25 % 289 9 298 174 472Total Canadian Properties 24 95.9 % 16,116 1,019 17,135 3,615 20,750 54 % 8,839 599 9,438 1,802 11,240

Australia PropertiesMelbourneSouthern Cross East Tower

(2)1 99.8 % 833 26 859 340 1,199 50 % 416 13 429 170 599

Southern Cross West Tower 1 99.9 % 482 17 499 15 514 50 % 241 9 250 7 2572 99.8 % 1,315 43 1,358 355 1,713 50 % 657 22 679 177 856

Perth108 St Georges Terrace 1 86.5 % 402 11 413 40 453 50 % 201 5 206 20 226Brookfield Place Tower 1 1 99.2 % 847 76 923 141 1,064 100 % 847 76 923 141 1,064Brookfield Place Tower 2 1 99.1 % 359 — 359 40 399 100 % 359 — 359 40 399

3 96.1 % 1,608 87 1,695 221 1,916 88 % 1,407 81 1,488 201 1,689BrisbaneCBA Building 1 90.2 % 285 15 300 34 334 50 % 143 6 149 18 167

1 90.2 % 285 15 300 34 334 50 % 143 6 149 18 167Total Australian Properties 6 97.1 % 3,208 145 3,353 610 3,963 68 % 2,207 109 2,316 396 2,712(1)



Core Office

5




Parking &(1)


(1)

Other Total

U.K. PropertiesLondon99 Bishopsgate

(2)1 100.0 % 333 6 339 12 351 20 % 67 1 68 2 70

100 Bishopsgate 1 87.2 % 893 49 942 22 964 100 % 893 49 942 22 964Shoreditch 1 90.5 % 16 7 23 5 28 100 % 16 7 23 5 28Aldgate Tower 1 100.0 % 316 — 316 5 321 10 % 32 — 32 — 321 London Wall Place 1 100.0 % 298 — 298 9 307 100 % 298 — 298 9 3072 London Wall Place 1 95.1 % 176 11 187 2 189 100 % 176 11 187 2 189Principal Place

(2)1 100.0 % 608 22 630 21 651 50 % 304 11 315 11 326

1 Bank Street(2)

1 91.5 % 716 — 716 17 733 50 % 358 — 358 8 36620 Bank Street

(2)1 100.0 % 547 — 547 — 547 50 % 273 — 273 — 273

40 Bank Street(2)

1 64.4 % 601 — 601 — 601 50 % 300 — 300 — 3001 Churchill Place

(2)1 100.0 % 986 — 986 18 1,004 50 % 493 — 493 9 502

25 Churchill Place(2)

1 100.0 % 546 — 546 12 558 50 % 273 — 273 6 27910 Cabot Square

(2)1 100.0 % 616 27 643 — 643 50 % 308 14 322 — 322

20 Cabot Square(2)

1 100.0 % 537 19 556 — 556 50 % 269 9 278 — 27833 Canada Square

(2)1 100.0 % 544 — 544 19 563 50 % 272 — 272 9 281

7 Westferry Circus(2)

1 91.1 % 159 14 173 — 173 50 % 79 8 87 — 8715 Westferry Circus

(2)1 100.0 % 171 — 171 — 171 50 % 86 — 86 — 86

10 Upper Bank Street(2)

1 100.0 % 1,022 5 1,027 — 1,027 5 % 51 — 51 — 51Cabot Place

(2)1 99.3 % — 144 144 14 158 50 % — 72 72 7 79

Canada Place(2)

1 100.0 % — 74 74 — 74 50 % — 37 37 — 37Jubilee Place

(2)1 96.3 % — 130 130 6 136 50 % — 65 65 3 68

Churchill Place(2)

1 100.0 % — 37 37 — 37 50 % — 19 19 — 19Reuters Plaza

(2)1 100.0 % — 9 9 — 9 50 % — 5 5 — 5

Park Pavilion(2)

1 100.0 % — 23 23 — 23 50 % — 11 11 — 1116-19 Canada Square

(2)1 100.0 % — 219 219 3 222 50 % — 110 110 1 111

One Canada Square(2)

1 89.7 % 1,195 23 1,218 — 1,218 50 % 598 11 609 — 609Canada Square Pavillion

(2)1 100.0 % — 8 8 — 8 50 % — 4 4 — 4

Crossrail Place(2)

1 100.0 % — 114 114 2 116 50 % — 57 57 1 58Canary Wharf Parking

(2)1 — % — — — 991 991 50 % — — — 495 495

29 95.1 % 10,280 941 11,221 1,158 12,379 50 % 5,146 501 5,647 590 6,237Total U.K. Properties 29 95.1 % 10,280 941 11,221 1,158 12,379 50 % 5,146 501 5,647 590 6,237(1)



6




Parking &(1)


(1)

Other Total

Germany PropertiesBerlinA1

(2)1 98.8 % 333 25 358 28 386 25 % 83 6 89 8 97

A2(2)

1 95.4 % 16 239 255 47 302 25 % 4 60 64 12 76A3

(2)1 71.3 % 3 9 12 34 46 25 % 1 2 3 8 11

A4(2)(3)

1 97.5 % 124 1 125 41 166 25 % 31 — 31 11 42B1

(2)(3)1 98.3 % 194 12 206 11 217 25 % 49 3 52 2 54

B2(2)(3)

1 83.3 % 34 7 41 9 50 24 % 8 2 10 2 12B3

(2)(3)1 96.2 % 6 5 11 107 118 25 % 2 1 3 26 29

B4(2)(3)

1 100.0 % 145 — 145 48 193 25 % 36 — 36 12 48B5

(2)(3)1 — % — — — 222 222 25 % — — — 55 55

B6(2)(3)

1 99.6 % 145 3 148 80 228 25 % 36 1 37 20 57B7

(2)(3)1 83.3 % — 139 139 62 201 25 % — 35 35 15 50

B8(2)(3)

1 78.9 % — 5 5 142 147 25 % — 1 1 36 37B9

(2)1 100.0 % — 36 36 26 62 25 % — 9 9 6 15

C1(2)(3)

1 95.4 % 397 5 402 108 510 25 % 99 1 100 27 127A5,C2,C3

(2)1 — % — — — 203 203 25 % — — — 51 51

D1-D2(2)

1 100.0 % — 293 293 — 293 25 % — 73 73 — 7316 96.5 % 1,397 779 2,176 1,168 3,344 25 % 349 194 543 291 834

Total German Properties 16 96.5 % 1,397 779 2,176 1,168 3,344 25 % 349 194 543 291 834

Brazil PropertiesSão PauloFaria Lima 1 100.0 % 276 — 276 209 485 51 % 141 — 141 107 248

1 100.0 % 276 — 276 209 485 51 % 141 — 141 107 248Rio de JaneiroL'Oreal 1 100.0 % 197 16 213 64 277 67 % 131 11 142 43 185

1 100.0 % 197 16 213 64 277 67 % 131 11 142 43 185Total Brazilian Properties 2 100.0 % 473 16 489 273 762 57 % 272 11 283 150 433

Total Core Properties 134 92.5 % 72,673 4,563 77,236 17,322 94,558 54 % 39,605 2,273 41,878 9,280 51,158(1)


Represents jointly controlled entities(3)

Leasable square feet excludes retail square feet under redevelopment

7

Core OfficePORTFOLIO LISTING (CONT'D) - OTHER

(Square feet in 000's) Total Leaseable Square Feet

Multifamily Rental Properties Location Occupancy(1) UnitsAssets Under Management Proportionate

The Eugene Manhattan, NY 94.8 % 844 587 238

One Blue Slip(2) Brooklyn, NY 60.7 % 359 248 203

Thayer & Spring(2) Silver Spring, MD 58.9 % 399 331 288

Andorra Camarillo, CA 93.8 % 450 414 409

Olmstead Nashville, TN 94.5 % 328 254 229

Domain Orlando, FL 85.5 % 324 340 299

10 George Street(2) London, UK 25.0 % 327 237 119

Total Multifamily Rental 3,031 2,411 1,785

Hotel Properties Location Rooms

C. Baldwin Houston, TX 354(1) Physical occupancy as at quarter end(2) Recently completed property in initial lease-up phase

Other Operating PortfolioIncluded in the Core Office segment are several non-office operating assets as detailed below. Multifamily rental assets are presented in commercial properties and hotel assets are presented in property, plant and equipment.

8

TOP TENANTS

Tenant Primary location Credit rating(1) Year of expiry(2) Total(sq. ft. in 000's) Exposure (%)(3)

1 Government and Government Agencies Various AA+/AAA 2028 5,946 7.7 %2 Morgan Stanley NY/London A- 2029 2,091 2.7 %3 Barclays London/Toronto/Calgary BBB 2033 1,625 2.1 %4 CIBC World Markets(4) Calgary/Toronto/NY AA 2035 1,445 1.9 %5 Suncor Energy Inc. Calgary BBB+ 2028 1,374 1.8 %6 Cenovus Calgary BB 2040 1,186 1.5 %7 Bank of Montreal Calgary/Toronto AA 2043 1,127 1.5 %8 Deloitte Various Not Rated 2034 1,081 1.4 %9 EY Various Not Rated 2036 1,054 1.4 %

10 Royal Bank of Canada Various AA 2035 997 1.3 %11 Bank of America | Merrill Lynch Various A 2027 981 1.3 %12 Amazon NY/London A 2032 963 1.2 %13 Skadden, Arps, Slate, Meagher & Flom LLP NY/London Not Rated 2040 770 1.0 %14 BHP Billiton Perth A 2027 764 1.0 %15 Time Inc (HQ) New York B 2033 696 0.9 %16 Cleary, Gottlieb, Steen & Hamilton LLP NY/London Not Rated 2031 612 0.8 %17 Hudson's Bay Company NY/Toronto Not Rated 2033 599 0.8 %18 Westcoast Energy Calgary Not Rated 2028 586 0.8 %19 Canadian Natural Resources Limited Calgary BBB 2026 572 0.7 %20 CIB Properties Limited London Not Rated 2026 544 0.7 %

Total 25,013 32.5 %(1) From Standard & Poor's Rating Services, Moody's Investment Services, Inc. or DBRS Limited(2) Reflects year of maturity related to lease(s) and is calculated based on a weighted average basis based on square feet where applicable(3) Prior to considering partnership interests in partially-owned properties(4) CIBC World Markets leases 1.1 million square feet at 300 Madison Avenue in New York, of which they sublease 940,000 square feet to PricewaterhouseCoopers LLP and 100,000 square feet to Sumitomo Corporation of America

Core Office

9

PORTFOLIO LISTING

Property Name Location Own %

Mall and Freestanding

GLA

Anchor GLA (BPYU Owned)

Anchor GLA (Tenant Owned)

Strip Center GLA Office GLA Total GLA

(1) Proportionate(2)

GLA

Retail Percentage

Leased Key Tenants

Consolidated Retail Properties

200 Lafayette New York, NY 90 % 30 — — — — 30 27 100.0 % Leased218 W 57th Street New York, NY 90 % 35 — — — — 35 32 — %605 North Michigan Avenue Chicago, IL 90 % 73 — — — — 73 66 100.0 % Sephora, Chase Bank, Regus, Roots530 Fifth Avenue New York, NY 81 % 59 — — — — 59 48 100.0 % Vans, Chase Bank, Duane Reade685 Fifth Avenue New York, NY 88 % 24 — — — — 24 21 100.0 % Coach, Stuart Weitzman, Tag Heuer730 Fifth Avenue New York, NY 90 % 74 — — — — 74 67 33.8 % Bulgari, Mikimoto, Piaget, Zegna830 N. Michigan Ave. Chicago, IL 90 % 117 — — — — 117 106 100.0 % Uniqlo, ColumbiaBeachwood Place Beachwood, OH 90 % 325 317 247 97 — 986 667 81.6 % Nordstrom, Saks Fifth Avenue, Dillard'sBellis Fair Bellingham, WA 90 % 428 100 238 — — 766 477 83.1 % Macy's, JCPenney, Kohl's, Dick's Sporting Goods, TargetBrass Mill Center Waterbury, CT 90 % 440 218 319 189 — 1,166 764 94.0 % Macy's, JCPenney, Burlington Stores, Regal CinemasCoastland Center Naples, FL 90 % 334 276 315 — — 925 550 95.8 % Dillard's, Macy's, JCPenneyColumbia Mall Columbia, MO 90 % 296 — 421 — — 717 267 90.7 % Dillard's, JCPenney, TargetCoral Ridge Mall Coralville, IA 90 % 534 — 442 — 25 1,001 505 97.1 % Dillard's, Scheels, JCPenney, Target, Homegoods, Best Buy, UltaCrossroads Center St. Cloud, MN 90 % 422 168 229 — — 819 533 85.4 % Macy's, Scheels, JCPenney, TargetDeerbrook Mall Humble, TX 90 % 618 — 654 — — 1,272 558 98.2 % Dillard's, Macy's, JCPenney, AMC Theaters, Dick's Sporting GoodsEastridge Mall Casper, WY 90 % 281 214 76 — — 571 447 84.0 % JCPenney, Dick's Sporting Goods, TargetFour Seasons Town Centre Greensboro, NC 90 % 500 294 202 — — 996 716 93.8 % Dillard's, JCPenney, Round 1 BowlingFox River Mall Appleton, WI 90 % 627 — 595 — — 1,222 566 95.4 % Macy's, Scheels, JCPenney, TargetGrand Teton Mall Idaho Falls, ID 90 % 213 199 125 93 — 630 456 92.7 % Dillard's, Macy's, JCPenney, Ross Dress For LessGreenwood Mall Bowling Green, KY 90 % 423 278 151 — — 852 633 92.5 % Dillard's, Belk, JCPenneyHulen Mall Ft. Worth, TX 90 % 393 — 597 — — 990 355 94.7 % Dillard's, Macy'sJordan Creek Town Center West Des Moines, IA 90 % 732 152 198 247 — 1,329 1,020 96.5 % Von Maur, Dillard's, Scheels, Century Theaters, Dave & Buster'sMall Of Louisiana Baton Rouge, LA 90 % 617 — 806 144 — 1,567 687 97.4 % Dillard's, Macy's, JCPenney, Nordstrom Rack, AMC Theaters, Dick's Sporting Goods,

Main EventMall St. Matthews Louisville, KY 90 % 499 — 514 — — 1,013 450 91.5 % Dillard's, Cinemark, JCPenney, Dave & Buster'sMayfair Wauwatosa, WI 90 % 623 289 360 — 188 1,460 993 98.4 % Nordstrom, Macy's, AMC Theaters, Crate & BarrelMeadows Mall Las Vegas, NV 90 % 309 — 637 — — 946 279 90.8 % Dillard's, Macy's, JCPenney, Round 1 BowlingMondawmin Mall Baltimore, MD 90 % 387 — — — 74 461 416 98.6 % Ross Dress for Less, Shoppers Food & PharmacyNeshaminy Mall Bensalem, PA 90 % 383 416 218 — — 1,017 721 88.2 % Barnes & Noble, Boscov's, AMC Theaters, Round 1 BowlingNorth Point Mall Alpharetta, GA 90 % 408 540 363 — 24 1,335 878 91.2 % Von Maur, Dillard's, Macy's, JCPenney, American GirlNorth Star Mall San Antonio, TX 90 % 515 207 522 — — 1,244 652 97.4 % Dillard's, Macy's, Saks Fifth Avenue, JCPenneyNorthtown Mall Spokane, WA 90 % 437 242 242 — — 921 613 92.3 % Macy's, Kohl's, JCPenney, Regal CinemasOakwood Center Gretna, LA 90 % 355 229 332 — — 916 528 92.7 % Dillard's, JCPenney, Dick's Sporting GoodsOakwood Mall Eau Claire, WI 90 % 468 146 198 — — 812 554 91.4 % JCPenney, Scheels, Hobby LobbyOxmoor Center Louisville, KY 85 % 313 296 271 — — 880 519 93.3 % Von Maur, Macy's, Dick's Sporting Goods, Top GolfParamus Park Paramus, NJ 90 % 372 69 289 — 21 751 418 91.1 % Macy's, Stew Leonard'sPark City Center Lancaster, PA 90 % 517 515 227 — 7 1,266 938 91.6 % Boscov's, Kohl's, JCPenneyPark Meadows Lone Tree, CO 90 % 741 — 823 — — 1,564 669 98.5 % Nordstrom, Dillard's, Macy's, JCPenney, Dick's Sporting GoodsPeachtree Mall Columbus, GA 90 % 385 222 201 — 13 821 559 94.3 % Dillard's, Macy's, At Home, JCPenneyPecanland Mall Monroe, LA 90 % 410 20 532 — — 962 388 90.5 % Dillard's, Belk, JCPenney, Dick's Sporting GoodsPerimeter Mall Atlanta, GA 90 % 497 222 831 — — 1,550 649 96.1 % Nordstrom, Von Maur, Dillard's, Macy'sPioneer Place Portland, OR 90 % 322 — — — — 322 290 93.9 % Apple, Tiffany's, Louis Vuitton, H&M, Zara, WeWorkPrince Kuhio Plaza Hilo, HI 90 % 272 125 62 — — 459 358 94.8 % Macy's, TJ Maxx, Tractor Supply, CVSProvidence Place Providence, RI 85 % 699 233 200 — — 1,132 794 97.8 % Macy's, Boscov's, Providence Place Cinemas, Dave & Buster'sQuail Springs Mall Oklahoma City, OK 90 % 398 160 537 — — 1,095 504 93.2 % Von Maur, Dillard's, JCPenney, AMC Theaters, Lifetime Fitness, Round 1 BowlingRiver Hills Mall Mankato, MN 90 % 368 180 174 — — 722 494 90.4 % Scheels, JCPenney, TargetRivertown Crossings Grandville, MI 90 % 637 150 486 — — 1,273 711 92.5 % Macy's, Kohl's, JCPenney, Dick's Sporting Goods, Round 1 BowlingShops at Merrick Park Coral Gables, FL 90 % 414 — 330 — 101 845 465 98.5 % Neiman Marcus, Nordstrom, Equinox(1)

Excludes space under development(2)

Excludes tenant-owned anchor space

Core Retail

10




GLA

Anchor GLA (BPYU Owned)


Strip Center

GLA Office GLATotal GLA


GLA

Retail Percentage

Leased Key Tenants

Consolidated Retail Properties

Sooner Mall Norman, OK 90 % 243 135 137 — — 515 341 93.3 % Dillard's, JCPenneySouthwest Plaza Littleton, CO 90 % 684 35 542 — 62 1,323 705 97.4 % Dillard's, Macy's, JCPenney, Target, Dick's Sporting GoodsSpokane Valley Mall Spokane, WA 90 % 335 126 251 138 — 850 541 93.1 % Macy's, JCPenney, Nordstrom Rack, Dick's Sporting Goods, Regal CinemasStaten Island Mall Staten Island, NY 90 % 855 50 467 83 — 1,455 892 93.3 % Primark, Macy's, JCPenney, AMC Theaters, Dave & Buster'sStonestown Galleria San Francisco, CA 90 % 408 161 — — — 569 513 98.9 % Regal Cinemas, Whole Foods, Trader Joe's, Target, The Sports BasementThe Shoppes At Buckland Hills Manchester, CT 90 % 543 — 513 — — 1,056 490 95.7 % Macy's, JCPenney, Dick's Sporting GoodsThe Streets At Southpoint Durham, NC 85 % 601 — 726 — — 1,327 512 97.9 % Nordstrom, Macy's, Belk, JCPenney, Barnes & NobleThe Woodlands Mall Woodlands, TX 90 % 710 — 713 — 42 1,465 679 96.6 % Nordstrom, Macy's, Dillard's, JCPenney, Dick's Sporting GoodsTown East Mall Mesquite, TX 90 % 464 — 809 — — 1,273 419 97.7 % Dillard's, Macy's, JCPenney, Dick's Sporting GoodsTowson Town Center Towson, MD 90 % 615 — 419 — — 1,034 555 93.2 % Nordstrom, Macy's, Round 1 Bowling, Crate & BarrelTysons Galleria McLean, VA 90 % 294 260 252 — — 806 500 97.0 % Neiman Marcus, Saks Fifth Avenue, BowleroValley Plaza Mall Bakersfield, CA 90 % 533 311 292 — — 1,136 762 98.9 % Macy's, JCPenney, TargetVisalia Mall Visalia, CA 90 % 179 257 — — — 436 394 92.8 % Macy's, JCPenneyWestlake Center Seattle, WA 90 % 126 — — — — 126 114 100.0 % Saks Off Fifth, Nordstrom Rack, ZaraWillowbrook Wayne, NJ 90 % 584 128 738 — — 1,450 643 99.3 % Bloomingdale's, Macy's, Lord & Taylor, Cinemark, Dave & Buster'sTotal Consolidated Retail Properties Count: 62 25,498 7,940 19,823 991 557 54,809 31,468 94.2 %

Unconsolidated Retail Properties85 Fifth Avenue New York, NY 45 % 13 — — — — 13 6 100.0 % AnthropologieAla Moana Center Honolulu, HI 45 % 1,297 972 — 14 364 2,647 1,194 96.9 % Nordstrom, Bloomingdale's, Neiman Marcus, Macy's, Foodland Farms, TargetAlderwood Lynnwood, WA 45 % 576 178 528 39 — 1,321 358 97.3 % Nordstrom, Macy's, JCPenney, Loews CineplexAltamonte Mall Altamonte Springs, FL 45 % 482 331 312 — — 1,125 367 95.5 % Dillard's, Macy's, JCPenney, AMC Theaters, Main Event EntertainmentApache Mall Rochester, MN 46 % 413 206 163 — — 782 285 96.4 % Macy's, Scheels, JCPenneyAugusta Mall Augusta, GA 46 % 480 — 597 — — 1,077 221 97.3 % Dillard's, Macy's, JCPenney, Dick's Sporting GoodsBaybrook Mall Friendswood, TX 46 % 1,078 97 721 — — 1,896 541 99.6 % Dillard's, Macy's, JCPenney, Lifetime Fitness, Star Cinema Grill, Dick's Sporting Goods, Boise Towne Square Boise, ID 46 % 409 426 248 115 — 1,198 437 90.9 % Dillard's, Macy's, Kohl's, JCPenney, Nordstrom RackCarolina Place Pineville, NC 45 % 512 277 349 — — 1,138 356 98.6 % Dillard's, Belk, JCPenney, Dave & Buster's, Dick's Sporting GoodsChristiana Mall Newark, DE 23 % 623 — 641 — — 1,264 141 99.3 % Nordstrom, Macy's, JCPenney, Cinemark, Cabela's, TargetClackamas Town Center Happy Valley, OR 45 % 629 — 775 — — 1,404 284 98.1 % Nordstrom, Macy's, JCPenney, Century Theatres, Dave & Buster'sColumbiana Centre Columbia, SC 46 % 294 145 361 — — 800 202 98.4 % Dillard's, Belk, JCPenney, Dave & Buster'sCoronado Center Albuquerque, NM 46 % 671 118 281 — — 1,070 363 98.2 % Macy's, Kohl's, JCPenney, Dick's Sporting Goods, Round 1 Bowling, Furniture CityCumberland Mall Atlanta, GA 46 % 538 226 278 — — 1,042 352 97.3 % Macy's, Costco, Dick's Sporting Goods, Round 1 BowlingFashion Place Murray, UT 46 % 459 162 338 — — 959 286 100.0 % Nordstrom, Dillard's, Macy's, Crate & BarrelFashion Show Las Vegas, NV 45 % 837 272 762 — — 1,871 500 98.9 % Neiman Marcus, Nordstrom, Saks Fifth Avenue, Dillard's, Macy's, Macy's Men, Dick's First Colony Mall Sugar Land, TX 45 % 550 — 619 — — 1,169 248 99.6 % Dillard's, Macy's, JCPenney, Dick's Sporting Goods, AMC TheatersFlorence Mall Florence, KY 45 % 382 — 552 — — 934 172 83.0 % Macy's, Macy's Home Store, JCPenneyGalleria At Tyler Riverside, CA 45 % 562 — 622 — — 1,184 254 94.6 % Nordstrom, Macy's, JCPenney, AMC TheatersGlenbrook Square Fort Wayne, IN 46 % 429 556 — — — 985 453 91.6 % Macy's, JCPenney, Round 1 BowlingGlendale Galleria Glendale, CA 45 % 511 305 525 — 138 1,479 430 98.5 % Bloomingdale's, Macy's, JCPenney, Target, Dick's Sporting Goods, Gold's GymGovernor's Square Tallahassee, FL 46 % 338 — 692 — — 1,030 156 89.0 % Dillard's, JCPenneyKenwood Towne Centre Cincinnati, OH 45 % 517 241 401 — — 1,159 342 95.6 % Nordstrom, Dillard's, Macy's, Louis Vuitton, TiffanyLynnhaven Mall Virginia Beach, VA 46 % 650 150 381 — — 1,181 368 97.3 % Dillard's, Macy's, JCPenney, Dick's Sporting Goods, AMC Theaters, Dave & Buster'sMarket Place Shopping Center Champaign, IL 46 % 462 235 150 — — 847 321 96.6 % Macy's, Kohl's, JCPenney, Dick's Sporting GoodsMiami Design District Miami, FL 20 % 669 — — — 86 755 152 91.4 % Hermes, Fendi, Louis Vuitton, Valentino, Bulgari, Prada, GucciMizner Park Boca Raton, FL 23 % 151 80 — — 264 495 114 95.0 % Lord & Taylor, IPIC TheatersNatick Mall Natick, MA 45 % 942 88 558 — — 1,588 465 96.0 % Neiman Marcus, Nordstrom, Macy's, Lord & Taylor, Wegman's, Dave & Buster's(1)



Core Retail

11




GLA

Anchor GLA (BPR

Owned)


Strip Center

GLA Office GLATotal GLA


GLA

Retail Percentage

Leased Key Tenants

Unconsolidated Retail PropertiesNorthbrook Court Northbrook, IL 45 % 450 406 130 — — 986 386 93.8 % Neiman Marcus, Lord & Taylor, AMC Theaters, Crate & Barrel, Fresh FarmNorthridge Fashion Center Northridge, CA 46 % 656 257 557 — — 1,470 420 96.4 % Macy's, JCPenney, Dick's Sporting Goods, Pacific Theaters, Dave & Buster's, Gold's Oakbrook Center Oak Brook, IL 43 % 1,257 284 468 — 260 2,269 775 97.3 % Neiman Marcus, Nordstrom, Macy's, AMC Theatres, Lifetime Fitness, KidZaniaOglethorpe Mall Savannah, GA 46 % 400 221 316 — — 937 286 95.7 % Macy's, Belk, JCPenneyOne Union Square San Francisco, CA 45 % 23 — — — 20 43 19 97.6 % Bulgari, MonclerOtay Ranch Town Center Chula Vista, CA 45 % 536 — 140 — — 676 242 95.2 % Macy's, AMC Theaters, Barons MarketPark Place Tucson, AZ 46 % 467 — 584 — — 1,051 215 95.3 % Dillard's, Macy's, Century Theatres, Round 1 BowlingPembroke Lakes Mall Pembroke Pines, FL 46 % 388 353 386 — — 1,127 341 95.1 % Dillard's, Macy's, JCPenney, AMC Theaters, Round 1 BowlingPinnacle Hills Promenade Rogers, AR 45 % 367 99 162 306 74 1,008 382 90.6 % Dillard's, JCPenney, Malco Theatres, Dave & Buster'sPlaza Frontenac St. Louis, MO 50 % 217 126 135 — — 478 170 96.0 % Neiman Marcus, Saks Fifth AvenueRidgedale Center Minnetonka, MN 46 % 364 177 596 — — 1,137 249 92.5 % Nordstrom, Macy's, JCPenneyRiverchase Galleria Hoover, AL 46 % 523 330 610 — — 1,463 392 92.5 % Von Maur, Macy's, Belk, Belk Homestore, JCPenney, Dave & Buster'sSaint Louis Galleria St. Louis, MO 66 % 463 — 714 — — 1,177 307 97.1 % Nordstrom, Dillard's, Macy's, CarvanaStonebriar Centre Frisco, TX 45 % 929 163 703 — — 1,795 493 98.0 % Nordstrom, Dillard's, Macy's, JCPenney, Dick's Sporting Goods, AMC Theaters, The Crossroads Portage, MI 46 % 261 82 421 — — 764 158 90.4 % Macy's, Burlington Stores, JCPenneyThe Gallery At Harborplace Baltimore, MD 46 % 98 — — — 292 390 179 68.9 % Victoria Secret, Footlocker, Forever 21, SpacesThe Grand Canal Shoppes Las Vegas, NV 45 % 657 — — — 43 700 316 98.3 % Louis Vuitton, Tao Nightclub, Smith & Wollensky, CanalettoThe Maine Mall South Portland, ME 46 % 460 120 378 — 1 959 267 96.0 % Macy's, JCPenney, Round 1 Bowling, Best Buy, Jordan's FurnitureThe Mall In Columbia Columbia, MD 45 % 708 278 449 — — 1,435 445 95.7 % Nordstrom, Macy's, Lord & Taylor, JCPenney, AMC Theaters, Main Event, Barnes & The Oaks Mall Gainesville, FL 46 % 348 233 325 — — 906 268 88.5 % Dillard's, Belk, JCPenneyThe Parks Mall at Arlington Arlington, TX 46 % 761 — 749 — 1 1,511 350 98.6 % Dillard's, Macy's, JCPenney, Nordstrom Rack, Dick's Sporting GoodsThe Shoppes at River Crossing Macon, GA 45 % 418 — 333 — — 751 189 93.6 % Dillard's, Belk, Dick's Sporting GoodsThe Shops at La Cantera San Antonio, TX 34 % 617 — 628 — 71 1,316 233 98.7 % Neiman Marcus, Nordstrom, Dillard's, Macy'sThe Shops at The Bravern Bellevue, WA 36 % 160 125 — — — 285 103 97.3 % Neiman Marcus, Hermes, Louis Vuitton, Gucci, Lifetime FitnessThe SoNo Collection Norwalk, CT 12 % 256 300 — — — 556 65 97.6 % Nordstrom, Bloomingdale's, Lillian AugustTucson Mall Tucson, AZ 46 % 618 — 641 27 — 1,286 297 94.3 % Dillard's, Macy's, JCPenney, Dick's Sporting GoodsWater Tower Place Chicago, IL 43 % 411 297 — — 86 794 338 89.9 % Macy's, American GirlWestroads Mall Omaha, NE 46 % 531 — 529 — — 1,060 244 95.9 % Von Maur, JCPenney, AMC Theaters, Dick's Sporting GoodsWhaler's Village Lahaina, HI 45 % 111 — — — 9 120 54 97.5 % Louis Vuitton, Lululemon, Leilani's, Hula GrillWhite Marsh Mall Baltimore, MD 46 % 434 257 466 — — 1,157 318 95.2 % Macy's, Macy's Home Store, Boscov's, JCPenney, Dave & Buster'sWillowbrook Mall Houston, TX 45 % 526 — 984 — — 1,510 238 99.3 % Dillard's, Macy's, JCPenney, Dick's Sporting GoodsWoodbridge Center Woodbridge, NJ 46 % 635 458 561 — — 1,654 503 95.8 % Macy's, Lord & Taylor, Boscov's, JCPenney, Dick's Sporting GoodsTotal Unconsolidated Retail Properties Count: 60 30,524 9,631 22,819 501 1,709 65,184 18,610 96.0 %

Total Retail Properties Count: 122 56,022 17,571 42,642 1,492 2,266 119,993 50,078 95.2 %(1)



Core Retail

12

TOP TENANTS

Tenant Primary Brands Exposure(1)

1 L Brands, Inc Victoria's Secret, Bath & Body Works, PINK 3.7 %2 LVMH Louis Vuitton, Sephora, Fendi, Bulgari, Dior, Tag Heuer 2.9 %3 Foot Locker, Inc Footlocker, Champs Sports, Footaction USA, House of Hoops 2.9 %4 The Gap, Inc Gap, Banana Republic, Old Navy, Athleta 2.2 %5 Forever 21 Retail, Inc Forever 21 1.9 %6 Signet Jewelers Limited Zales, Gordon's, Kay, Jared 1.6 %7 American Eagle Outfitters, Inc American Eagle Outfitters, Aerie 1.6 %8 Ascena Retail Group Ann Taylor, Loft, Justice, Lane Bryant 1.5 %9 Abercrombie & Fitch Stores, Inc Abercrombie, Abercrombie & Fitch, Hollister 1.4 %

10 Express, Inc Express, Express Men, Express Factory 1.4 %Total 21.1 %

(1) Percent of minimum rents, tenant recoveries and other

Core Retail

13

Core OfficeDEBT

Mar. 31, 2020 Proportionate Mortgagedetails(US$ Millions) Location Rate Maturity date IFRS Total 2020 2021 2022 2023 2024 Thereafter

United StatesSilver Spring Metro Plaza Washington, D.C. 4.33 % May 2020 $ 107 $ 90 $ 90 $ — $ — $ — $ — $ — FixedBrookfield Place Retail New York 4.33 % June 2020 325 236 236 — — — — — Floating601 & 701 South 12th Street Washington, D.C. 4.18 % November 2020 86 86 86 — — — — — FixedErnst & Young Plaza Los Angeles 4.38 % November 2020 265 125 125 — — — — — Fixed200 Vesey Street New York 3.48 % December 2020 340 247 247 — — — — — FloatingOne Post Street San Francisco 4.54 % March 2021 168 51 — 51 — — — — Fixed1600 Smith Street and One and Three Allen Center Houston 5.64 % April 2021 425 358 — 358 — — — — Fixed300 Vesey Street New York 2.67 % April 2021 180 131 — 131 — — — — FloatingThe Gas Company Tower Los Angeles 4.35 % August 2021 450 213 — 213 — — — — Fixed685 Market Street San Francisco 3.23 % October 2021 85 45 — 45 — — — — FixedOne Blue Slip

(1)New York 5.41 % November 2021 161 132 — 132 — — — — Fixed

C. Baldwin Hotel Houston 5.08 % November 2021 55 46 — 46 — — — — Fixed3 Bethesda Metro Center Washington, D.C. 3.03 % July 2022 100 100 — — 100 — — — FloatingDomain/Olmstead Nashville / Florida 4.61 % August 2022 100 90 — — 90 — — — FixedTwo Blue Slip

(1)New York 3.83 % December 2022 126 120 — — 120 — — — Floating

333 W 34th Street New York 2.68 % January 2023 130 30 — — — 30 — — FixedFIGat7th Los Angeles 3.88 % March 2023 59 28 — — — 28 — — FixedBleecker Street Retail New York 3.68 % April 2023 21 15 — — — 15 — — FloatingTwo Allen Center Houston 4.08 % April 2023 188 158 — — — 158 — — FloatingFigueroa at Wilshire Los Angeles 3.49 % July 2023 242 115 — — — 115 — — FixedWells Fargo Center - North Tower Los Angeles 2.90 % October 2023 500 237 — — — 237 — — FloatingWells Fargo Center - South Tower Los Angeles 3.38 % November 2023 261 123 — — — 123 — — FloatingTotal Plaza Houston 3.58 % January 2024 101 101 — — — — 101 — FloatingPotomac Tower Washington, D.C. 2.66 % April 2024 96 96 — — — — 96 — FloatingBank of America Plaza Los Angeles 4.05 % September 2024 400 189 — — — — 189 — FixedAndorra Camarillo, CA 2.78 % September 2024 96 96 — — — — 96 — Floating777 Tower Los Angeles 2.60 % October 2024 275 130 — — — — 130 — FixedStudio Plaza Phase I Washington, D.C. 3.33 % November 2024 80 69 — — — — 69 — FloatingOne & Two Reston Crescent Washington, D.C. 5.10 % December 2024 65 65 — — — — 65 — FixedReston Summit Washington, D.C. 2.98 % April 2025 63 63 — — — — — 63 Floating755 Figueroa

(1)Los Angeles 4.33 % June 2025 10 5 — — — — — 5 Floating

250 Vesey Street New York 3.77 % November 2025 600 435 — — — — — 435 Fixed225 Liberty Street New York 4.66 % February 2026 900 653 — — — — — 653 Fixed200 Liberty Street New York 4.50 % February 2027 550 399 — — — — — 399 Fixed701 Ninth Street Washington, D.C. 6.73 % December 2028 118 118 — — — — — 118 Fixed300 Madison Avenue New York 5.63 % April 2032 869 869 — — — — — 869 FixedUnited States properties 3.50 % $ 8,597 $ 6,064 $ 784 $ 976 $ 310 $ 706 $ 746 $ 2,542(1)

Development debt

14

Core Office


Canada22 Front Street Toronto 6.16 % October 2020 $ 10 $ 10 $ 10 $ — $ — $ — $ — $ — FixedBrookfield Place Calgary East Tower Calgary 2.97 % November 2020 350 350 350 — — — — — FloatingBankers Court Calgary 4.91 % November 2020 26 26 26 — — — — — FixedFifth Avenue Place Calgary 4.71 % August 2021 97 97 — 97 — — — — FixedExchange Tower Toronto 4.00 % April 2022 67 67 — — 67 — — — FixedHudson's Bay Centre Toronto 2.91 % May 2022 133 133 — — 133 — — — Floating105 Adelaide Street West Toronto 3.84 % May 2023 22 22 — — — 22 — — FixedBankers Hall Calgary 4.38 % November 2023 190 190 — — — 190 — — FixedFirst Canadian Place Toronto 3.53 % December 2023 48 48 — — — 48 — — Fixed2 Queen Street East Toronto 3.30 % February 2025 23 23 — — — — — 23 FixedBay Adelaide Centre Toronto 3.87 % March 2025 320 320 — — — — — 320 FixedPlace de Ville I and II Ottawa 3.72 % June 2025 29 29 — — — — — 29 FixedBay Wellington Tower Toronto 3.40 % April 2026 469 469 — — — — — 469 FixedSuncor Energy Centre Calgary 5.19 % August 2033 166 166 — — — — — 166 FixedCanadian properties 3.79 % $ 1,950 $ 1,950 $ 386 $ 97 $ 200 $ 260 $ — $ 1,007AustraliaSouthern Cross East Tower Melbourne 2.31 % November 2021 $ 123 $ 123 $ — $ 123 $ — $ — $ — $ — FloatingCBA Building Brisbane 2.16 % November 2021 71 52 — 40 12 — — — Floating388 George Street Sydney 1.96 % November 2022 98 98 — — 98 — — — FloatingBPREP-A Sydney / Perth 2.26 % August 2022 161 64 — — 16 48 — — Floating108 St. Georges Terrace Perth 2.31 % October 2022 55 55 — — 55 — — — FloatingSouthern Cross West Tower Melbourne 1.76 % November 2022 77 77 — — 77 — — — FloatingBrookfield Place Tower 1 & 2 Perth 2.21 % April 2024 541 541 — — — — 541 — FloatingAustralian properties 2.08 % $ 1,126 $ 1,010 $ — $ 163 $ 258 $ 48 $ 541 $ —United Kingdom100 Bishopsgate London 2.25 % October 2024 $ 1,099 $ 1,099 $ — $ — $ — $ — $ 1,099 $ — Fixed1 & 2 London Wall Place London 3.25 % January 2025 640 640 — — — — — 640 FixedUnited Kingdom properties 1.44 % $ 1,739 $ 1,739 $ — $ — $ — $ — $ 1,099 $ 640Brazil Faria Lima São Paulo 9.50 % October 2034 $ 57 $ 29 $ — $ — $ — $ — $ — $ 29 FloatingBrazilian properties 9.50 % $ 57 $ 29 $ — $ — $ — $ — $ — $ 29

DEBT (CONT’D)

15

Core OfficeDEBT (CONT’D)


Other jointly controlled propertiesSouthbank Place

(1)London 4.92 % April 2020 $ — $ 78 $ 78 $ — $ — $ — $ — $ — Fixed

The Lofts at Manhattan West New York 4.08 % June 2020 — 28 28 — — — — — FloatingVictor Building Washington, D.C. 3.28 % June 2020 — 62 62 — — — — — FloatingWood Wharf

(1)London 3.48 % September 2020 — 313 63 149 14 87 — — Fixed

1200 K Street Washington, D.C. 5.88 % February 2021 — 47 — 47 — — — — FixedBethesda Crescent Washington, D.C. 5.58 % February 2021 — 21 — 21 — — — — FixedOne New York Plaza New York 3.05 % March 2021 — 82 — 82 — — — — FixedNewfoundland

(1)London 4.14 % March 2021 — 161 — 161 — — — — Fixed

15 Westferry Circus London 3.51 % April 2021 — 58 — 58 — — — — FixedOne Manhattan West

(1)New York 4.33 % April 2021 — 457 — 457 — — — — Floating

655 New York Avenue(1)

Washington, D.C. 3.59 % April 2021 — 85 — 85 — — — — FloatingGrace Building New York 3.61 % June 2021 — 275 — 275 — — — — FixedMarina Towers Los Angeles 3.83 % September 2021 — 35 — 35 — — — — FloatingCanary Wharf Parking London 2.96 % November 2021 — 435 — 435 — — — — FixedCanary Wharf Credit Facility London 6.37 % March 2022 — 59 — — 59 — — — Fixed77 K Street Washington, D.C. 4.58 % June 2022 — 42 — — 42 — — — Fixed650 Massachusetts Avenue Washington, D.C. 3.21 % July 2022 — 34 — — 34 — — — FixedRepublic Plaza Denver 4.24 % December 2022 — 130 — — 130 — — — FixedQuay Club

(1)London 4.00 % June 2023 — 11 — — — 11 — — Floating

7 Westferry Circus London 2.93 % August 2023 — 25 — — — 25 — — FixedICD Brookfield Place

(1)Dubai 5.03 % December 2023 — 224 — — — 224 — — Floating

10 Upper Bank Street London 2.61 % April 2024 — 27 — — — — 27 — Fixed1250 Connecticut Avenue Washington, D.C. 3.35 % May 2024 — 24 — — — — 24 — FixedOne Liberty Plaza New York 3.72 % July 2024 — 315 — — — — 315 — FixedManhattan West Retail

(1)New York 4.34 % September 2024 — 20 — — — — 20 — Floating

1 Bank Street(1)

London 2.87 % November 2024 — 359 — — — — 359 — FixedPendry Manhattan West

(1)New York 4.08 % January 2025 — 16 — — — — — 16 Floating

Continued on next page(1)

Development debt

16

Core OfficeDEBT (CONT’D)


Other jointly controlled properties continuedFive Manhattan West New York 4.19 % March 2025 $ — $ 467 $ — $ — $ — $ — $ — $ 467 Fixed799 Ninth Street Washington, D.C. 3.99 % May 2025 — 48 — — — — — 48 Fixed99 Bishopsgate London 3.41 % July 2025 — 45 — — — — — 45 Fixed25 Churchill Place London 2.65 % July 2025 — 276 — — — — — 276 FloatingPotsdamer Platz Berlin 1.51 % December 2025 — 277 — — — — — 277 FixedTwo Manhattan West

(1)New York 3.92 % February 2027 — 184 — — — — — 184 Floating

The Eugene New York 2.85 % December 2027 — 195 — — — — — 195 FixedPrincipal Place London 3.02 % January 2028 — 286 — — — — — 286 Fixed1400 K Street Washington, D.C. 3.85 % January 2028 — 26 — — — — — 26 FixedCanary Wharf Group Pooled Debt London 4.20 % April 2030 — 986 — — — — — 986 Fixed/Floating1 Churchill Place London 0.89 % July 2034 — 289 — — — — — 289 FloatingOther jointly controlled properties 3.60 % $ — $ 6,502 $ 231 $ 1,805 $ 279 $ 347 $ 745 $ 3,095Total including debt associated with assets held for sale 13,469 17,294 1,401 3,041 1,047 1,361 3,131 7,313Less: Debt associated with assets held for sale — — — — — — — —Total before deferred financing costs $ 13,469 $ 17,294 $ 1,401 $ 3,041 $ 1,047 $ 1,361 $ 3,131 $ 7,313Less: Deferred financing costs (112) (163)Total $ 13,357 $ 17,131CorporateBNYC Credit Facility 3.23 % September 2022 $ 170 $ 123 $ — $ — $ 123 $ — $ — $ — FloatingCorporate 3.23 % $ 170 $ 123 $ — $ — $ 123 $ — $ — $ —Weighted average interest rate 3.69 % 3.78 % 3.98 % 3.44 % 3.75 % 2.81 % 3.95 %(1)

Development debt

17

DEBTCore Retail


ConsolidatedMall St. Matthews Louisville, KY 2.72 % June 2020 $ 171 $ 154 $ 154 $ — $ — $ — $ — $ — FixedTown East Mall Mesquite (Dallas), TX 3.57 % June 2020 160 145 145 — — — — — FixedVisalia Mall Visalia, CA 3.71 % June 2020 74 67 67 — — — — — Fixed830 N. Michigan Ave Chicago, IL 3.60 % July 2020 78 70 70 — — — — — FloatingTysons Galleria McLean (Washington, D.C.), VA 4.06 % September 2020 285 257 257 — — — — — FixedDeerbrook Mall Humble (Houston), TX 5.25 % April 2021 131 118 — 118 — — — — FixedBrass Mill Center Waterbury, CT 3.33 % April 2021 63 57 — 57 — — — — FloatingColumbia Mall Columbia, MO 3.33 % April 2021 46 42 — 42 — — — — FloatingEastridge Mall Casper, WY 3.33 % April 2021 41 37 — 37 — — — — FloatingFour Seasons Town Centre Greensboro, NC 3.33 % April 2021 30 27 — 27 — — — — FloatingGrand Teton Mall Idaho Falls, ID 3.33 % April 2021 43 39 — 39 — — — — FloatingMayfair Wauwatosa (Milwaukee), WI 3.33 % April 2021 331 299 — 299 — — — — FloatingMondawmin Mall Baltimore, MD 3.33 % April 2021 81 73 — 73 — — — — FloatingNorthtown Mall Spokane, WA 3.33 % April 2021 82 74 — 74 — — — — FloatingOakwood Mall Eau Claire, WI 3.33 % April 2021 68 61 — 61 — — — — FloatingOakwood Center Gretna, LA 3.33 % April 2021 83 75 — 75 — — — — FloatingPioneer Place Portland, OR 3.33 % April 2021 121 109 — 109 — — — — FloatingQuail Springs Mall Oklahoma City, OK 3.33 % April 2021 67 60 — 60 — — — — FloatingRiver Hills Mall Mankato, MN 3.33 % April 2021 68 61 — 61 — — — — FloatingSooner Mall Norman, OK 3.33 % April 2021 68 62 — 62 — — — — FloatingSouthwest Plaza Littleton (Denver), CO 3.33 % April 2021 110 99 — 99 — — — — FloatingProvidence Place Providence, RI 5.65 % May 2021 329 280 — 280 — — — — FixedFox River Mall Appleton, WI 5.46 % June 2021 161 145 — 145 — — — — FixedOxmoor Center Louisville, KY 5.37 % June 2021 82 69 — 69 — — — — FixedRivertown Crossings Grandville (Grand Rapids), MI 5.19 % June 2021 134 121 — 121 — — — — FixedWestlake Center Seattle, WA 4.08 % July 2021 49 44 — 44 — — — — FloatingPark City Center Lancaster (Philadelphia), PA 4.00 % September 2021 135 122 — 122 — — — — FloatingWestlake Center - Land Seattle, WA 12.90 % November 2021 2 2 — 2 — — — — Fixed530 Fifth Avenue New York, NY 3.96 % November 2021 110 95 — 95 — — — — Floating200 Lafayette New York, NY 4.08 % November 2021 27 24 — 24 — — — — FloatingBellis Fair Bellingham (Seattle), WA 5.23 % February 2022 81 73 — — 73 — — — FixedThe Shoppes at Buckland Hills Manchester, CT 5.19 % March 2022 113 102 — — 102 — — — FixedThe Streets at SouthPoint Durham, NC 4.36 % May 2022 232 198 — — 198 — — — FixedSpokane Valley Mall Spokane, WA 4.65 % June 2022 51 46 — — 46 — — — FixedGreenwood Mall Bowling Green, KY 4.19 % July 2022 60 54 — — 54 — — — FixedNorth Star Mall San Antonio, TX 3.93 % August 2022 289 261 — — 261 — — — FixedCoral Ridge Mall Coralville (Iowa City), IA 5.71 % September 2022 97 87 — — 87 — — — FixedCoastland Center Naples, FL 3.76 % November 2022 111 100 — — 100 — — — FixedPecanland Mall Monroe, LA 3.88 % March 2023 82 74 — — — 74 — — FixedCrossroads Center St. Cloud, MN 3.25 % April 2023 91 82 — — — 82 — — FixedMeadows Mall Las Vegas, NV 3.96 % July 2023 136 123 — — — 123 — — FixedPrince Kuhio Plaza Hilo, HI 4.10 % July 2023 39 36 — — — 36 — — Fixed

18

DEBT (CONT'D)Core Retail


ConsolidatedStaten Island Mall Staten Island, NY 4.77 % September 2023 $ 230 $ 207 $ — $ — $ — $ 207 $ — $ — FixedHulen Mall Fort Worth, TX 4.38 % October 2023 89 80 — — — 80 — — FloatingStonestown Galleria San Francisco, CA 4.39 % October 2023 176 159 — — — 159 — — Fixed605 North Michigan Avenue Chicago, IL 4.76 % December 2023 80 72 — — — 72 — — FixedJordan Creek Town Center West Des Moines, IA 4.37 % January 2024 196 177 — — — — 177 — Fixed730 Fifth Avenue New York, NY 5.25 % September 2024 808 729 — — — — 729 — FloatingShops at Merrick Park Coral Gables, FL 3.90 % November 2024 390 352 — — — — 352 — FixedPark Meadows Lone Tree, CO 3.56 % November 2024 700 632 — — — — 632 — FixedValley Plaza Mall Bakersfield, CA 3.75 % March 2025 231 209 — — — — — 209 FixedWillowbrook Mall Wayne, NJ 3.55 % March 2025 360 325 — — — — — 325 FixedBeachwood Place Beachwood, OH 3.94 % March 2025 208 188 — — — — — 188 FixedTowson Town Center Towson, MD 3.82 % August 2025 316 285 — — — — — 285 FixedParamus Park Paramus, NJ 4.07 % September 2025 120 108 — — — — — 108 FixedPeachtree Mall Columbus, GA 3.94 % December 2025 73 66 — — — — — 66 FixedPerimeter Mall Atlanta, GA 3.96 % September 2026 275 248 — — — — — 248 FixedNorth Point Mall Alpharetta (Atlanta), GA 4.54 % September 2026 248 224 — — — — — 224 FixedMall of Louisiana Baton Rouge, LA 3.98 % August 2027 325 293 — — — — — 293 FixedProvidence Place - Other Providence, RI 7.75 % July 2028 29 25 — — — — — 25 Fixed685 Fifth Avenue New York, NY 4.53 % July 2028 275 241 — — — — — 241 FixedThe Woodlands Woodlands (Houston), TX 4.36 % August 2029 463 418 — — — — — 418 FixedConsolidated Property Level $ 10,204 $ 9,162 $ 693 $ 2,195 $ 921 $ 833 $ 1,890 $ 2,630UnconsolidatedThe Shops at The Bravern Bellevue, WA 4.10 % May 2020 $ 57 $ 20 $ 20 $ — $ — $ — $ — $ — FloatingTucson Mall Tucson, AZ 4.01 % June 2020 246 113 113 — — — — — FixedFashion Place Murray, UT 3.64 % June 2020 227 104 104 — — — — — FixedOakbrook Center Oak Brook (Chicago), IL 3.66 % July 2020 425 183 183 — — — — — FixedMiami Design District Misc Miami, FL 10.15 % September 2020 202 40 40 — — — — — FloatingThe Mall in Columbia Columbia, MD 3.95 % September 2020 320 144 144 — — — — — FixedWater Tower Place Chicago, IL 4.33 % October 2020 365 155 155 — — — — — FixedKenwood Towne Centre Cincinnati, OH 5.37 % December 2020 199 126 126 — — — — — FixedWhaler's Village Lahaina, HI 5.42 % January 2021 80 36 — 36 — — — — FixedNorthridge Fashion Center Northridge (Los Angeles), CA 5.10 % April 2021 213 98 — 98 — — — — FixedWillowbrook Mall Houston, TX 5.13 % April 2021 183 82 — 82 — — — — Fixed85 Fifth Avenue New York, NY 3.76 % April 2021 60 27 — 27 — — — — FloatingWhite Marsh Mall Baltimore, MD 3.66 % May 2021 190 87 — 87 — — — — FixedPark Place Tucson, AZ 5.18 % May 2021 170 78 — 78 — — — — FixedNorthbrook Court Northbrook, IL 4.25 % November 2021 118 53 — 53 — — — — FixedFashion Show - Other Las Vegas, NV 6.06 % November 2021 2 1 — 1 — — — — FixedAla Moana Center Honolulu, HI 4.23 % April 2022 1,400 632 — — 632 — — — FixedThe Gallery at Harborplace Baltimore, MD 5.24 % May 2022 72 33 — — 33 — — — FixedFlorence Mall Florence (Cincinnati, OH), KY 4.15 % June 2022 90 41 — — 41 — — — Fixed

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UnconsolidatedClackamas Town Center Happy Valley, OR 4.18 % October 2022 $ 216 $ 97 $ — $ — $ 97 $ — $ — $ — FixedThe Oaks Mall Gainesville, FL 4.55 % October 2022 121 56 — — 56 — — — FixedWestroads Mall Omaha, NE 4.55 % October 2022 136 63 — — 63 — — — FixedThe Shoppes at River Crossing Macon, GA 3.75 % March 2023 75 34 — — — 34 — — FixedAla Moana Expansion Honolulu, HI 3.80 % May 2023 500 226 — — — 226 — — FixedCumberland Mall Atlanta, GA 3.67 % May 2023 160 74 — — — 74 — — FixedCarolina Place Pineville (Charlotte), NC 3.84 % June 2023 163 73 — — — 73 — — FixedOglethorpe Mall Savannah, GA 3.90 % July 2023 146 67 — — — 67 — — FixedAugusta Mall Augusta, GA 4.36 % August 2023 170 78 — — — 78 — — FixedRidgedale Center Minnetonka, MN 4.18 % September 2023 167 77 — — — 77 — — FloatingRiverchase Galleria Birmingham, AL 4.21 % September 2023 164 76 — — — 76 — — FloatingApache Mall Rochester, MN 4.21 % September 2023 74 34 — — — 34 — — FloatingColumbiana Centre Columbia, SC 4.21 % September 2023 137 63 — — — 63 — — FloatingOne Union Square San Francisco, CA 5.12 % October 2023 50 23 — — — 23 — — FixedBoise Towne Square Boise, ID 4.79 % October 2023 117 54 — — — 54 — — FixedGalleria at Tyler Riverside, CA 5.05 % November 2023 170 77 — — — 77 — — FixedMarket Place Shopping Center Champaign, IL 4.53 % November 2023 89 41 — — — 41 — — FloatingThe Crossroads Portage, MI 4.42 % December 2023 89 41 — — — 41 — — FixedWoodbridge Center Woodbridge, NJ 4.80 % April 2024 239 110 — — — — 110 — FixedThe Maine Mall South Portland, ME 4.66 % April 2024 235 108 — — — — 108 — FixedGovernor's Square Tallahassee, FL 4.98 % May 2024 61 28 — — — — 28 — FloatingCoronado Center Albuquerque, NM 4.98 % May 2024 220 101 — — — — 101 — FloatingLynnhaven Mall Virginia Beach, VA 4.98 % May 2024 234 108 — — — — 108 — FloatingStonebriar Centre Frisco (Dallas), TX 4.05 % August 2024 267 120 — — — — 120 — FixedBaybrook Mall Friendswood (Houston), TX 5.52 % September 2024 233 107 — — — — 107 — FixedThe Parks Mall at Arlington Arlington (Dallas), TX 5.57 % September 2024 233 107 — — — — 107 — FixedFashion Show Las Vegas, NV 4.03 % November 2024 835 377 — — — — 377 — FixedNatick Mall Natick (Boston), MA 3.72 % November 2024 505 228 — — — — 228 — FixedPinnacle Hills Promenade Rogers, AR 4.13 % January 2025 111 50 — — — — — 50 FixedAltamonte Mall Altamonte Springs (Orlando), FL 3.72 % February 2025 154 70 — — — — — 70 FixedPembroke Lakes Mall Pembroke, FL 3.56 % March 2025 260 120 — — — — — 120 FixedAlderwood Lynnwood (Seattle), WA 3.48 % June 2025 321 145 — — — — — 145 Fixed

Boise Towne Square Boise, ID 4.13 % August 2025 18 8 — — — — — 8 Fixed

Glenbrook Square Fort Wayne, IN 4.27 % November 2025 156 72 — — — — — 72 FixedGlendale Galleria Glendale, CA 4.06 % September 2026 430 194 — — — — — 194 FixedThe Shops at La Cantera San Antonio, Bexar County, TX 3.60 % May 2027 350 118 — — — — — 118 FixedBaybrook Expansion Friendswood, TX 3.77 % December 2027 140 37 — — — — — 37 FixedChristiana Mall Newark, DE 4.28 % August 2028 550 124 — — — — — 124 FixedPlaza Frontenac St. Louis, MO 4.43 % August 2028 100 50 — — — — — 50 FixedSaint Louis Galleria St. Louis, MO 5.10 % November 2028 260 173 — — — — — 173 Fixed

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UnconsolidatedThe Grand Canal Shoppes Las Vegas, NV 4.29 % July 2029 $ 975 $ 441 $ — $ — $ — $ — $ — $ 441 FixedFirst Colony Mall Sugarland, TX 3.55 % November 2029 220 99 — — — — — 99 FixedMiami Design District Miami, FL 4.13 % March 2030 500 100 — — — — — 100 FixedUnconsolidated Property Level $ 14,970 $ 6,502 $ 885 $ 462 $ 922 $ 1,038 $ 1,394 $ 1,801CorporateTerm Loan A-1 3.18 % August 2021 $ 35 $ 31 $ — $ 31 $ — $ — $ — $ — FloatingRevolving Facility 3.18 % August 2022 765 690 — — 690 — — — FloatingTerm Loan A-2 3.24 % August 2023 2,000 1,805 — — — 1,805 — — FloatingTerm Loan B 3.49 % August 2025 1,970 1,778 — — — — — 1,778 FloatingSenior Secured Notes 5.75 % May 2026 1,000 902 — — — — — 902 FloatingJunior Subordinated Notes Due 2036 3.22 % April 2036 206 186 — — — — — 186 FloatingTotal Corporate $ 5,976 $ 5,392 $ — $ 31 $ 690 $ 1,805 $ — $ 2,866Other, net (8) (8)Deferred Financing Costs (120) (128)Total $ 31,022 $ 20,920 $ 1,578 $ 2,688 $ 2,533 $ 3,676 $ 3,284 $ 7,297Weighted average interest rate 4.1 % 3.9 % 4.2 % 4.1 % 3.7 % 4.3 % 4.2 %

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GLOSSARY OF TERMS

Terms Description

Anchor Department stores whose merchandise appeals to a broad range of shoppers. Anchors either own their stores, the land under them and adjacent parking areas, or enter into long-term leases at rates that are generally lower than the rents charged to mall store tenants.

Gross Leasable Area ("GLA") Total gross leasable space at 100%.

Mall and freestanding Inline mall shop and outparcel retail locations (locations that are not attached to the primary complex of buildings that comprise a shopping center). Excludes anchor stores.

Office (as defined by Core Retail segment only) Leasable office space, either peripheral to a retail center or a stand-alone office building without a retail component.

Strip center An attached row of stores or service outlets managed as a coherent retail entity, with on-site parking usually located in front of the stores. Open canopies may connect the storefronts, but a strip center does not have enclosed walkways linking the stores.

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