Slide 1: Macerich Company, May 2015
(NYSE: MAC) an S&P 500 Company May 2015
Slide 2: Legal Disclaimer
LEGAL DISCLAIMER This document contains information constituting forward-looking statements and includes expectations regarding the Company’s future operational results as well as development, redevelopment and expansion activities. Stockholders are cautioned that any such forward-looking statements
Slide 3: Overview of Macerich
Macerich Company_left_Nov06.wmfMACERICH 3 Overview of Macerich Macerich (NYSE: MAC) is focused on the acquisition, leasing, development, redevelopment and management of top quality regional malls in the U.S. .The company owns 51 regional shopping centers across the U.S. .Total market capitalization
Slide 4: Macerich's Portfolio as of December 31, 2014
Macerich Company_left_Nov06.wmfMacerich’s Portfolio as of December 31, 2014 4 MACERICH Macerich currently owns 51 regional shopping centers located in the country’s most attractive, densely populated markets
Slide 5: Has Delivered Strong Performance
Macerich Company_left_Nov06.wmfMACERICH Macerich Has Delivered Strong Performance Macerich has continued to make major progress and significant achievements on all fronts; we continued to seize opportunities and further strengthen our Company and our growth prospects $517 $562 $587 $400 $450 $500 $5
Slide 6: Macerich Has a Highly Independent, Balanced and Well-Qualified Board
Macerich Company_left_Nov06.wmf0 to 5 years 6 to 10 years 11 to 15 years > 15 years Independent75% Non- Independent25% MACERICH Macerich Has a Highly Independent, Balanced and Well-Qualified Board Our Directors provide Macerich with a comprehensive variety of experiences, skills, qualifications and
Slide 7: History of Strong Corporate Governance
Macerich Company_left_Nov06.wmfMACERICH History of Strong Corporate Governance 7 Macerich stands out among REIT peers as having a long history of strong, stockholder-friendly governance .Single class of common stock (one share / one vote) .Commitment to declassified Board1 .Majority voting for direc
Slide 8: Overview of the Board's Response to Simon's Interest
Macerich Company_left_Nov06.wmfMACERICH Overview of the Board’s Response to Simon’s Interest 8 .Macerich received an unsolicited acquisition proposal from Simon Property Group on March 9, 2015 –SPG’s proposal included a partnership between SPG (the #1 mall owner by assets) and General Growth Partner
Slide 9: Board Is Responsive to Stockholder Feedback
Macerich Company_left_Nov06.wmfMACERICH Macerich is Responsive to Stockholder Feedback 9 Macerich has engaged with investors holding more than 50%of shares to facilitate an open dialogue In response to the unique circumstances surrounding SPG’s proposal, Macerich’s Board took actions including: .Una
Slide 10: Compensation Plan Aligns Management and Stockholder Interests
Macerich Company_left_Nov06.wmf0 50 100 150 200 250 300 $- $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 $12,000,000 $14,000,000 $16,000,000 2010 2011 2012 2013 2014 Pay TSR MACERICH Macerich’s Compensation Plan Aligns Management and Stockholder Interests 10 Alignment of CEO Pay with TSR T
Slide 11: Corporate Goals and CEO Goals
Macerich Company_left_Nov06.wmf11 Goal Below Target Above Corporate Goals Ops FFO per share-diluted guidance of $3.50 to $3.60 . Same center NOI growth of 2.75% to 4.25% . Leasing Double-digit releasing spreads from high quality “A” Centers . Obtain overall occupancy level at Centers of atleast 95%
Slide 12: Long-Term Incentive Equity Award Tied to Company Performance
Macerich Company_left_Nov06.wmfMACERICH Long-Term Incentive Equity Award Tied to Company Performance 12 Performance Based* 75% Service Based 25% Vest in equal annual installments over a 3 year period % of Target earned is based on percentile ranking of TSR relative to Equity Peer REITs andachievemen
Slide 13: Key Compensation Program Attributes
Macerich Company_left_Nov06.wmfMACERICH Key Compensation Program Attributes 13 .Pay for performance alignment -Rigorous goals and performance metrics -Significant emphasis on equity compensation -Significant emphasis on performance-based compensation .Appropriate compensation peer group .Double-trig
Slide 14: Conclusion
Macerich Company_left_Nov06.wmfMACERICH Conclusion 14 .Macerich has a track record of delivering superior financial performance and returns to stockholders .Macerich’s experiencedand highly-independent Board contains a balance between directors with fresh perspectives and those with deep institution