Tanger Honored with Nareit’s 2026 Leader in the Light Award for Transparency

Key Terms

corporate governance regulatory

Corporate governance is the system of rules, roles and oversight that determines how a company is directed and controlled, including the responsibilities of its board, executives and shareholders. Like the steering wheel and map for a car trip, it shapes decisions, sets checks on power and defines who can hold leaders accountable; strong governance reduces risk, builds trust and helps investors judge whether a company is likely to protect capital and deliver reliable returns.

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total enterprise values financial

Total enterprise value is the combined cost to buy a business outright, adding the market value of its equity plus its debts, minus any cash the company holds. Think of it like the true purchase price of a house: you consider the asking price, the outstanding mortgage you’d assume, and any money in the bank that lowers net cost. Investors use it to compare companies more fairly because it treats debt and cash the same way across different firms.

core ffo financial

Core FFO (Core Funds From Operations) is a real estate industry measure of a property owner's recurring cash earnings calculated by starting with net income and removing non-cash accounting items and one-time gains or losses so the number reflects ongoing operating performance. Investors use it like a trimmed-down paycheck: it helps compare cash-generating ability across periods and companies by focusing on the stable, repeatable income rather than temporary or accounting-driven swings.

same center noi financial

Same center NOI is the net operating income generated by a group of existing stores, properties, or business locations that were open for the entire comparison period, excluding income from newly opened, closed, or acquired sites. Investors use it like a like‑for‑like thermometer: it isolates organic performance and cost trends at established locations so you can tell whether underlying demand or efficiency is improving without the noise of expansion or shrinkage.

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Exchangeable senior notes are loans a company issues that promise regular interest payments and have priority over other debts, but can be swapped by the holder for shares of a different company. Think of it as lending money with an option to trade the loan for someone else’s stock; investors weigh the steady income and higher repayment priority against the chance of receiving shares that dilute ownership or fluctuate in value. These features affect a company’s credit risk, potential dilution, and appeal to different investors.

definitive proxy statement regulatory

A Definitive Proxy Statement is a detailed document that a company sends to its shareholders before a big meeting, like voting on important decisions. It explains what's being voted on and gives important information so shareholders can make informed choices. It matters because it helps shareholders understand and participate in key company decisions.

total shareholder return financial

Total shareholder return is the overall gain an investor gets from owning a stock, combining changes in the share price plus any cash payouts like dividends, and assuming those payouts are reinvested in more shares. Investors use it like a single score that shows the true return on their investment—similar to checking both the growth of a savings account and the interest earned—to compare how well different companies or investments perform over time.

shelf registration statement regulatory

A shelf registration statement is a document a company files with regulators that allows it to sell shares or bonds quickly when it’s a good time to raise money. It’s like having a pre-approved plan ready so the company can act fast without going through lengthy paperwork each time they want to sell, making fundraising more flexible.

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GREENSBORO, N.C.--(BUSINESS WIRE)-- Tanger® (NYSE:SKT), a leading owner and operator of outlet and other open-air retail shopping destinations, has received a 2026 Leader in the Light Award for Transparency from Nareit, the National Association of Real Estate Investment Trusts, in recognition of the Company’s exceptional corporate governance practices.

Tanger achieved this recognition in its first year of participation in the long-standing, prestigious awards program. The Leader in the Light Awards recognize Nareit member REITs for demonstrating leadership in responsible business practices that create value and positively impact communities within their portfolios and across the REIT industry. The Transparency category recognizes REITs that demonstrate strong corporate governance and provide comprehensive and impactful decision-making information on the company's opportunities and risks, as determined through an independent panel of judges.

“This recognition is a reflection of our deep commitment to transparency and communication at every level of our company,” said President and CEO Stephen Yalof. “Integrity has always been a foundation of our culture at Tanger, and I am incredibly proud of how the Tanger team diligently demonstrates that value on a daily basis across our operations. We are grateful to Nareit for this honor and remain committed to providing open communication to our stakeholders and to generating a positive impact for the communities in which we operate.”

The Leader in the Light awardees were announced this week at Nareit’s REITwise: 2026 Educational Conference. For 2026, Nareit recognized three REITs—at low, mid, and high total enterprise values—in each of three categories: Transparency, Operations, and Responsibility. Tanger was the mid-cap recipient in the Transparency category.

Tanger also earned the Nareit Investor CARE (Communications and Reporting Excellence) Gold Award in June 2024 and June 2025 and was named by Newsweek as one of America’s Greatest Midsize Workplaces for Culture, Belonging and Community 2026 and one of America’s Greatest Midsize Workplaces for Women 2026.

For more information on Nareit and the 2026 Leader in the Light Awards, please visit https://www.reit.com/nareit/industry-awards/leader-light-award.

About Tanger®

Tanger Inc. (NYSE: SKT) is a leading owner and operator of outlet and other open-air retail shopping destinations, with 45 years of expertise in the retail and outlet shopping industries. Tanger’s portfolio of 38 outlet centers and three open-air lifestyle centers includes more than 16 million square feet well positioned across tourist destinations and vibrant markets in 22 U.S. states and Canada. A publicly traded REIT since 1993, Tanger continues to innovate the retail experience for its shoppers with over 3,000 stores operated by more than 800 different brand name companies. For more information on Tanger, call 1-800-4TANGER or visit tanger.inc.

Tanger Inc. (together with its subsidiaries, the “Company”) uses, and intends to continue to use, its Investor Relations website, which can be found at investors.tanger.inc, as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD. Additional information about the Company can also be found through social media channels. The Company encourages investors and others interested in the Company to review the information on its Investor Relations website and on social media channels. The information contained on, or that may be accessed through, our website or social media platforms is not incorporated by reference into, and is not a part of, this document.

Safe Harbor Statement

This release 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 Litigation Reform Act of 1995. Forward-looking statements, which are based on certain assumptions and describe the Company's future plans, strategies and expectations, are generally identifiable by use of the words "believe," "expect," "intend," "anticipate," or similar expressions.

These forward-looking statements are based upon the beliefs and expectations of management at the time of this release. You should not rely on forward-looking statements since they involve known and unknown risks and uncertainties which could cause actual results to differ materially from those presented in the forward-looking statements. Please refer to the documents filed by the Company with the SEC, including specifically the "Risk Factors" sections of the Company's Annual Report on Form 10-K for the year ended December 31, 2025, and the Company's other filings with the SEC, which identify additional factors that could cause actual results to differ from those contained in forward-looking statements. The Company does not undertake any obligation to update these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as may be required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260327417122/en/

Media Contact
ICR Inc.
(646) 277-1200
tangerpr@icrinc.com

Investor Relations Contact
Doug McDonald
SVP, Treasurer and Investments
(336) 856-6066
TangerIR@tanger.com

Source: Tanger