CBL & ASSOCIATES PROPERTIES INC

The following table summarizes the scheduled lease expirations for inline and adjacent freestanding stores as of December 31, 2023:

(1)

Total annualized gross rent, including recoverable common area expenses and real estate taxes, in effect at December 31, 2023 for expiring leases that were executed as of December 31, 2023. Based on 100% of the applicable amounts and has not been adjusted for our ownership share.

(2)

Total annualized gross rent, including recoverable CAM expenses and real estate taxes, of expiring leases as a percentage of the total annualized gross rent of all leases that were executed as of December 31, 2023.

(3)

Total GLA of expiring leases as a percentage of the total GLA of all leases that were executed as of December 31, 2023.

See page 51 for a comparison between rents on leases that expired in the current reporting period compared to rents on new and renewal leases executed in 2023.

Tenant Occupancy Costs

Occupancy cost is a tenant’s total cost of occupying its space, divided by its sales. Inline and adjacent freestanding store sales represent total sales amounts received from reporting tenants with space of less than 10,000 square feet.

The following table summarizes tenant occupancy costs as a percentage of total inline and adjacent freestanding store sales for reporting tenants less than 10,000 square feet, excluding license agreements, for each of the past three years:

(1)

In certain cases, we own less than a 100% interest in the Mall, Lifestyle Center or Outlet Center. The information in this table is based on 100% of the applicable amounts and has not been adjusted for our ownership share.

Debt on Malls, Lifestyle Centers and Outlet Centers

Please see the table entitled“Mortgage Loans Outstanding at December 31, 2023” included herein for information regarding any liens or encumbrances related to the malls, lifestyle centers and outlet centers.

All Other Properties

All Other Properties include the following categories:

(1)

Open-Air Centers - Designed to attract local and regional area customers and are typically anchored by a combination of big box retailers, supermarkets or value-priced stores that attract shoppers to each center’s small shops. The tenants at our Open-Air Centers typically offer necessities, value-oriented and convenience merchandise.

(2)

Other - Office Buildings and Hotel.

See Note 1 to the consolidated financial statements for additional information on the number of consolidated and unconsolidated properties in each of the above categories related to our other property types. The following tables set forth certain information for each of our other property types at December 31, 2023:

(1)

Total center square footage includes square footage of attached shops, attached and immediately adjacent Anchors and Junior Anchors and leased freestanding locations.

(2)

All leasable square footage, including Anchors and Junior Anchors.

(3)

Includes all leased Anchors, Junior Anchors and tenants with leases in effect as of December 31, 2023.

(4)

This property is owned in an unconsolidated joint venture.

(5)

The property is managed by a property manager that is affiliated with the third-party partner, which receives a fee for its services. The third-party partner controls the cash flow distributions, although our approval is required for certain major decisions.

(6)

Owned by the tenant.

(7)

Owned by a third party.

(8)

We own a 92% interest in the CBL Center office buildings, with an aggregate square footage of approximately 202,000 square feet, where our corporate headquarters is located. As of December 31, 2023, we occupied approximately 39% of the total square footage of the buildings.