Tanger Earns Sustainability Certifications for Taking Steps to Address Climate Change and Well-Being Across its Portfolio

Rhea-AI Summary

Tanger (NYSE: SKT), a leading outlet and open-air retail shopping destination operator, has achieved significant sustainability milestones. The company now has 20 LEED-certified centers, representing 58% of its portfolio by gross leasable area. Tanger Outlets Nashville became the latest center to achieve LEED Silver® certification, featuring sustainable elements like on-site solar energy and water reduction systems.

The company has also earned StormReady® recognition from the National Weather Service and maintained WELL Health-Safety Ratings across its U.S. portfolio, demonstrating commitment to weather preparedness and community well-being. These certifications align with Tanger's mission to deliver optimal experiences while prioritizing sustainable and healthy operations.

Tanger achieves 20^th LEED-certified shopping center, and Tanger centers across the U.S. are recognized as StormReady® and WELL Health-Safety Rated

GREENSBORO, N.C.--(BUSINESS WIRE)-- Tanger® (NYSE: SKT), a leading owner and operator of outlet and open-air retail shopping destinations, has earned additional recognition from national certification programs for taking steps to address climate change and enhance well-being at its centers. With these actions, Tanger now has achieved LEED certification for 20 centers, or 58% of its owned and managed portfolio by gross leasable area. Additionally, Tanger has expanded recognition of its centers as StormReady® and WELL Health-Safety Rated.

Tanger Outlets Nashville is the 20th Tanger shopping center to achieve LEED certification. The open-air outlet center in Nashville, Tennessee, which opened last year, was designed with extensive features – like on-site solar energy infrastructure – that help to address the impacts of climate change and enhance community well-being, in support of Tanger’s overall sustainability commitments. Photo credit: Tanger

“As a key part of Tanger’s mission, we strive to deliver the best experience for all who shop, dine and work in and around our shopping destinations. Providing for the well-being of our communities through sustainable, healthy operations is a vital part of that commitment,” said Jessica Norman, Executive Vice President, General Counsel and Secretary for Tanger, who oversees the company’s environmental, social, and governance program and disclosures.

“These recognitions from respected benchmark programs verify the steps we’ve taken to prepare our centers for the impacts of a changing climate and have positioned us to better serve the needs of our communities, in keeping with our core value to consider our communities first.”

LEED

Tanger Outlets Nashville in Tennessee has achieved LEED Silver® certification for Building Design and Construction (BD+C): Core and Shell Development from the U.S. Green Building Council. LEED® is the world's most widely used green building rating system, recognizing best-in-class building strategies and practices. With this certification, Tanger Nashville becomes the 20th shopping center in Tanger’s portfolio to be certified in the LEED program and Tanger’s third retail development to achieve BD+C certification for addressing carbon impacts in the design and construction process.

Tanger Nashville’s transformational design supports sustainability through on-site solar energy production, water use reduction systems, low-emitting materials, lighting controls, electric vehicle charging, and more. The center fosters engagement and well-being through ease of access, walkability, green and gathering spaces, an extensive mural arts program, and restaurants, retail brands, and experiences that celebrate the local culture and community.

Opened in October 2023, the development has also helped to revitalize the Southeast Nashville community that surrounds it, fueling job creation, economic health, and business growth in the area. Earlier this year, the Nashville chapter of the Urban Land Institute recognized Tanger Nashville with a 2024 Excellence in Development Award for being one of the best and most innovative projects in the region and for its positive impacts on the community.

Tanger Nashville will next pursue LEED Gold® for Operations and Maintenance (O+M) certification, as will Bridge Street Town Centre, Tanger’s open-air lifestyle shopping destination in Huntsville, Alabama. Tanger has 18 other shopping centers that have achieved LEED Gold O+M certification (one of which also achieved BD+C certification), reflecting Tanger’s deep commitment to best-in-class, sustainable operations across its portfolio.

StormReady

Tanger has also taken steps to mitigate the potential impacts of severe weather on its operations, for the benefit of all who work and shop at its centers. Tanger partners with the U.S. Department of Commerce and National Weather Service to ensure its shopping centers are “StormReady” and has been recognized as a Weather-Ready Nation Ambassador of the National Oceanic and Atmospheric Association. These programs help communities strengthen local safety programs and preparation skills needed to protect lives and property in extreme weather and water events.

The scenario-specific Weather-Ready plans Tanger maintains at its centers have helped its local team members remain safe and mitigate property damage during events like this year’s devastating hurricanes. In the wake of Hurricane Helene, Tanger’s center in Asheville, North Carolina, was well prepared to support the community, hosting emergency responders on-site and quickly restoring business operations to serve residents and business partners.

WELL Health and Safety

As part of its commitment to the well-being of people at its centers, Tanger achieved and has maintained the WELL Health-Safety Rating for Facility Operations and Management for all the shopping centers it owned and managed in the U.S. in 2022. This year, Tanger Outlets Nashville also achieved this Rating, and the two newest additions to Tanger’s portfolio, in Huntsville, AL, and Asheville, NC, are expected to achieve it in 2025.

A component of the International WELL Building Institute’s WELL Building Standard, the WELL Health-Safety Rating recognizes owners and operators like Tanger that prioritize the health and safety of their team members, visitors, and stakeholders. Tanger also participates in the WELL at Scale program to maintain its WELL Ratings more efficiently and benchmark its health and well-being efforts across the portfolio.

For more information about Tanger’s commitments to people, planet, and communities, please see the company’s 2023 Environmental, Social, and Governance Report, available on its investor relations website at investors.tanger.com/corporate-responsibility.

About Tanger®

Tanger Inc. (NYSE: SKT) is a leading owner and operator of outlet and open-air retail shopping destinations, with over 43 years of expertise in the retail and outlet shopping industries. Tanger’s portfolio of 38 outlet centers, one adjacent managed center, and one open-air lifestyle center includes over 15 million square feet well positioned across tourist destinations and vibrant markets in 20 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 700 different brand name companies. For more information on Tanger, call 1-800-4TANGER or visit tanger.com.

The Company uses, and intends to continue to use, its Investor Relations website, which can be found at investors.tanger.com, 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.

Forward-Looking Statements

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, 2023, 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.

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Media Contact

Kasie Wilson

KWT Global

Tanger@kwtglobal.com



Investor Relations Contact

Doug McDonald

SVP, Treasurer and Investments

(336) 856-6066

TangerIR@tanger.com

Source: Tanger

FAQ

How many Tanger centers are LEED-certified as of 2024?

As of 2024, Tanger (SKT) has 20 LEED-certified shopping centers, representing 58% of its owned and managed portfolio by gross leasable area.

What sustainability features does the new Tanger Outlets Nashville include?

Tanger Outlets Nashville includes on-site solar energy production, water use reduction systems, low-emitting materials, lighting controls, electric vehicle charging, green spaces, and walkability features.

What weather-related certification has Tanger (SKT) received?

Tanger has been recognized as StormReady® by the U.S. Department of Commerce and National Weather Service, and as a Weather-Ready Nation Ambassador of NOAA.

What WELL certification status does Tanger (SKT) maintain?

Tanger maintains WELL Health-Safety Rating for Facility Operations and Management for all its U.S. shopping centers owned and managed in 2022, with new locations expected to achieve certification in 2025.