Recent developments include Tanger's Q3 2026 earnings call and results announcement, highlighting increased guidance and operational updates amid industry headwinds.

• Tanger Inc. reported Q3 2026 results with increased guidance reflecting operational performance improvements and market conditions [N2].
• The company held its Q3 2026 earnings call discussing financial results, leasing activity, and strategic initiatives [N1].
• Industry commentary highlights Tanger among retail REITs navigating higher interest rates and sector challenges [N3].
• Tanger's Q1 2026 earnings call and results showed revenue and FFO exceeding prior expectations [N5][N6].
• Market analysis notes Tanger's positioning among retail REITs meriting attention despite Federal Reserve rate hikes [N4].

Tanger's extensive portfolio of outlet and lifestyle centers in attractive markets, combined with its strong tenant relationships and diversified tenant base, supports stable rental income streams. The company's active management of leasing, renovations, and acquisitions aims to enhance net operating income and property values. Marketing initiatives leveraging data and digital channels may increase shopper engagement and ancillary revenues. Conservative capital strategy and liquidity position provide financial stability to support ongoing operations and growth initiatives.

Tanger faces risks from competition with other retail centers, traditional malls, off-price retailers, and e-commerce, which may impact tenant sales and occupancy. Variable rental revenues linked to tenant sales introduce revenue volatility. The company is exposed to interest rate risk and capital market uncertainties that could affect financing costs and access to capital. Economic downturns or shifts in consumer spending could reduce tenant demand and rental income. Renovation and development projects carry execution risks and capital expenditure requirements. Insurance limitations may expose the company to uninsured losses from catastrophic events.

Tanger's competitive advantages stem from its established brand recognition in the outlet retail sector, a large and diversified portfolio of high-occupancy centers, and long-standing relationships with leading retail brands. Its integrated management and operational expertise enable effective leasing, marketing, and property management. The company's focus on outlet and open-air retail formats, which typically have lower operating costs and strong consumer appeal, supports tenant profitability and occupancy. Additionally, Tanger's conservative capital management and access to multiple financing sources provide financial flexibility to pursue growth opportunities and maintain operations through market cycles.

• Competition and Market Risks: Tanger competes with various retail formats and investors, which may affect tenant occupancy and rental rates.
• Revenue Volatility: A portion of rental income is variable and dependent on tenant sales performance, introducing revenue variability.
• Capital and Interest Rate Risks: Access to affordable capital and interest rate fluctuations could impact financing costs and liquidity.
• Economic and Consumer Spending Risks: Economic downturns or changes in consumer behavior may reduce tenant sales and occupancy levels.
• Execution Risks: Renovation, expansion, and development projects involve timing, cost, and leasing risks.
• Insurance Limitations: Certain catastrophic losses may be uninsured or economically uninsurable, posing financial risks.

• Tanger Inc. is a fully-integrated, self-administered and self-managed REIT focused on owning, operating, developing, and managing outlet and open-air retail centers in the US and Canada.
• As of December 31, 2025, Tanger's portfolio included 31 outlet centers and 3 open-air lifestyle centers totaling approximately 14 million square feet, with 98% occupancy and over 2,600 stores representing more than 700 brands.
• The company also has partial ownership interests in six unconsolidated centers totaling about 2.1 million square feet, including two in Canada, and manages one additional center.
• Tanger's centers primarily operate under the Tanger brand name, except for one joint venture center.
• Since 2023, Tanger acquired three open-air lifestyle centers in Huntsville, AL; Little Rock, AR; and Cleveland, OH, aligning with its strategy to invest in dominant open-air retail centers in growth markets.
• The company focuses on increasing net operating income through leasing optimization, renovations, expansions, and selective acquisitions or developments.
• Leasing strategy includes attracting best-in-class brands, optimizing tenant mix, and adding non-traditional tenants such as experiential and food and beverage operators.
• Marketing efforts leverage data-driven performance marketing, digital engagement, loyalty programs, and media/sponsorship opportunities to drive traffic and sales.
• Capital strategy emphasizes conservative leverage, debt maturity management, interest rate risk management, and maintaining liquidity through cash, short-term investments, and credit lines.
• As of September 30, 2026, Tanger reported cash and cash equivalents of $12.257 million and short-term investments of $20 million.
• For the quarter ended September 30, 2026, Tanger reported revenues of $157.718 million, net income of $33.65 million, and basic and diluted EPS of $0.29.
• The company has a share repurchase authorization of up to $200 million, with approximately $180 million remaining as of September 30, 2026.
• Tanger's centers are located in high-traffic tourist destinations and growing suburban markets, often near interstate highways for accessibility and visibility.
• No single tenant accounted for more than 7% of leasable square feet or 6% of rental revenues as of December 31, 2025.
• Rental revenues include fixed rents and variable rents based on tenant sales and reimbursable expenses.
• The company maintains comprehensive insurance coverage including a captive insurance subsidiary for certain property damage risks.
• Tanger emphasizes core values of integrity, inclusion, and innovation in its corporate culture.
• Recent news includes Q3 2026 earnings call and results reporting increased guidance and operational updates.
• The company faces competition from other retail centers, malls, off-price retailers, e-commerce, and institutional investors.
• Risk factors have not materially changed since the 2025 annual report.
• The company manages capital expenditures and cash flows to maintain distributions and leverage levels.
• Tanger's financial disclosures are summarized from latest SEC filings and provided for informational purposes only.