SECOND QUARTER 2023 6 Stephen Yalof Director, President and Chief Executive Officer Retailer Value Proposition Safe Harbor SECOND QUARTER 2023This presentation contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities ...

Summary of Tanger Factory Outlet Centers, Inc. Conference Call Company Overview - **Company**: Tanger Factory Outlet Centers, Inc. (NYSE: SKT) - **Industry**: Real Estate Investment Trust (REIT) focused on outlet shopping centers - **Management**: - Stephen Yalof - President, CEO & Director - Michael Bilerman - EVP, CFO & CIO - **Portfolio**: 36 shopping centers in the U.S. and 2 in Canada, with a new center opening in Nashville, Tennessee in October 2023 [1][4] Key Points and Arguments Management Changes and Strategy - New management since 2020 has led to new strategies, including welcoming non-traditional retailers to increase tenant diversity [3][4] - The company is adapting to changing consumer preferences, particularly post-COVID, by enhancing food and beverage offerings to increase customer dwell time [5][6] Retailer Engagement - The profile of outlet centers has evolved; new brands like Nike and Polo Ralph Lauren are now essential tenants [7] - The Nashville center will feature 14 brands new to the outlet format, indicating a shift towards attracting diverse retailers [7][8] Temporary Leasing Strategy - Approximately 10% of the portfolio consists of temporary tenants, a strategy that has been in place for a long time [8][9] - Short-term leases allow flexibility and can lead to long-term relationships with brands that find success in the outlet format [10][14] Tenant Retention and Pricing Power - Tenant retention rates have improved to over 90%, with double-digit renewal spreads indicating strong demand and pricing power [16][17] - The company aims to optimize tenant mix by replacing less productive tenants with more profitable ones [17] Development Projects - The Nashville project represents a $146 million investment with expected yields of 7% to 7.5%, contributing to cash flow growth [25][29] - The company is exploring outparcel opportunities, such as restaurants and hotels, to enhance customer experience and increase revenue [24][26] Acquisition Strategy - The company is in a strong financial position with a net debt-to-EBITDA ratio of 5x and $242 million in cash, allowing for potential acquisitions [29][30] - The focus is on expanding into lifestyle or hybrid formats that align with the outlet business model [30][32] Market Conditions and Consumer Behavior - Sales per square foot have increased to approximately $450, reflecting a 15% rise since pre-COVID levels [47] - The company targets value-oriented consumers, positioning itself as a provider of branded products at competitive prices [49] Financial Health and Cost of Capital - The company received a BBB rating from Fitch, leading to reduced borrowing costs and an annual savings of about $1 million [40][41] - The balance sheet is robust, allowing for strategic capital deployment while maintaining a low payout ratio [34][41] Food and Beverage Opportunities - The company is shifting towards more bespoke food and beverage experiences, moving away from traditional food courts [55] - New partnerships with popular brands like Shake Shack are expected to drive traffic and enhance the shopping experience [56][59] Additional Insights - The company is actively monitoring tenant credit quality and has no significant issues with tenants on the watch list [51][52] - The addition of food and beverage options has positively impacted customer traffic and retention [59] This summary encapsulates the key insights and strategic directions discussed during the conference call, highlighting Tanger Factory Outlet Centers' adaptive strategies in a changing retail landscape.

United States SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission file number: 1-11986 (Tanger Factory Outlet Centers, Inc.) Commission file number: 333-3526-01 (Tanger Properties Limited Partnership) ...

Financial Data and Key Metrics Changes - The company reported Core FFO of $0.46 per share, an increase from $0.45 in the prior year period [13] - Same center NOI for the total portfolio increased by 7.4% for the quarter, reflecting strong operational performance [13][34] - The weighted average rate on the company's debt at quarter end was 3.5%, with 93% of the debt at fixed rates [15] Business Line Data and Key Metrics Changes - Same center NOI growth was driven by robust leasing activity and effective expense management [7] - The blended average rental rates increased by 13.8% for the trailing 12 months ending March 31, 2023, marking a significant improvement from the previous year [8] - Renewals executed or in process represented 57% of leases expiring this year, approximately 10 percentage points ahead of last year [9] Market Data and Key Metrics Changes - Traffic for the quarter was up 60 basis points compared to the prior year's first quarter, indicating positive momentum [9] - Total gross sales grew in the first quarter of 2023 from the prior year quarter, with average tenant sales improving to $447 per square foot [30] Company Strategy and Development Direction - The company is focused on diversifying its tenant portfolio, adding experiential and food and beverage retailers to enhance customer engagement [40][32] - The Nashville development is over 90% lease committed, with a grand opening anticipated in the fall [12] - The company aims to leverage its media platform for additional revenue opportunities, enhancing marketing efforts to drive traffic and sales [11][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's optimistic outlook, citing strong leasing activity and improved rent spreads [27][28] - The company anticipates deploying between $50 million and $60 million for recurring CapEx across its portfolio, with a focus on tenant allowances and capital improvements [16] - Management noted that the leasing strategy is focused on capturing higher base rents and expense reimbursements, with a strong emphasis on operational efficiency [45] Other Important Information - The company announced an 11.4% increase in its dividend, reflecting continued confidence in its financial performance [33] - The company has no significant debt maturities until 2026, providing flexibility for growth initiatives [14] Q&A Session Summary Question: Inquiry about new tenants and their impact on visits - Management noted that the addition of new food and beverage tenants has positively impacted customer visits and stay time at shopping centers [19][40] Question: Concerns about leasing demand moderation - Management confirmed that there has not been a slowdown in leasing velocity, with retailers optimizing outlet locations as a key strategy [44] Question: Clarification on expense reimbursement rates - Management explained that the first quarter benefited from lower operating expenses and a strong leasing strategy, but recovery rates may adjust throughout the year [45][46] Question: Update on occupancy growth and temporary tenants - Management indicated that temporary occupancy is around 10%, which is higher than historical averages, and they are focused on converting temporary tenants to permanent leases [51][52] Question: Discussion on lease maturities and renewal pace - Management highlighted that 57% of leases expiring this year are in the renewal process, which is a significant improvement from the previous year [57] Question: Insights on external growth opportunities - Management is actively exploring joint ventures and acquisition opportunities to enhance their portfolio and drive growth [77] Question: Update on Rue21's restructuring - Management stated that Rue21 is current on all rents and the relationship remains strong, indicating confidence in addressing any potential issues [90]

Tanger Factory Outlet Centers, Inc. (NYSE:SKT) Citi's 2023 Global Property CEO Conference March 7, 2023 5:00 PM ET Company Participants Michael Bilerman - EVP and CFO Stephen Yalof - President and CEO Doug McDonald - Head of FP&A Conference Call Participants Nick Joseph - Citigroup Michael Bilerman Welcome to the 5 o'clock session at Citi's 28th Annual Global Property CEO Conference. I'm Michael Bilerman, and I'm sitting here with Steve Yalof. We're extraordinarily excited to be here. I'll turn the micropho ...

United States SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission file number 1-11986 (Tanger Factory Outlet Centers, Inc.) Commission file number 333-3526-01 (Tanger Properties Limited Partnership) TANGER ...

Tanger Factory Outlet Centers, Inc. (NYSE:SKT) Q4 2022 Earnings Conference Call February 22, 2023 8:00 AM ET Company Participants Ashley Curtis - Investor Relations Stephen Tanger - Executive Chairman Stephen Yalof - President and Chief Executive Officer Michael Bilerman - Chief Financial Officer and Chief Investment Officer Leslie Swanson - Chief Operating Officer Doug McDonald - Senior Vice President, Finance and Capital Markets Conference Call Participants Todd Thomas - KeyBanc Capital Markets Craig Mail ...

Tanger Factory Outlet Centers, Inc. (NYSE:SKT) Q3 2022 Earnings Conference Call November 3, 2022 8:30 AM ET Company Participants Ashley Curtis - Assistant Vice President, Investor Relations Steven Tanger - Executive Chair of the Board Stephen Yalof - Director, President and Chief Executive Officer Doug McDonald - Senior Vice President, Finance and Capital Markets Justin Stein - Executive Vice President, Leasing Conference Call Participants Greg McGinniss - Scotiabank Todd Thomas - KeyBanc Capital Markets Cr ...

Tanger Outlets MANAGEMENT PRESENTATION August 8, 2022 SECOND QUARTER 2022 Safe Harbor Statements This presentation contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forwardlooking statements contained in the Private Securities Litigation Reform Act of 1995 and includes thi ...

Tanger Factory Outlet Centers, Inc. (NYSE:SKT) Q2 2022 Earnings Conference Call August 9, 2022 8:30 AM ET Company Participants Ashley Curtis - Assistant Vice President, Investor Relations Stephen Yalof - President, CEO & Director Steven Tanger - Executive Chair Doug McDonald - SVP, Finance and Capital Markets Conference Call Participants Todd Thomas - KeyBanc Capital Markets Craig Schmidt - Bank of America Merrill Lynch Greg McGinniss - Scotiabank Emily Arft - Green Street Michael Mueller - JPMorgan Chase & ...