Transaction Details

Footnotes

Represents deferred share units issued pursuant to the Director Deferred Share Program of Tanger Inc. and Tanger Properties Limited Partnership. Each deferred share unit is equivalent to one common share. The deferred share units become payable in common shares upon termination of his service as a director. | Since the Reporting Person's last Form 4, 101.18 deferred share units were acquired through a dividend reinvestment program. | Reflects an award of Basic LTIP Units of Tanger Properties Limited Partnership, which, if and as they become vested, and conditioned upon the satisfaction of minimum allocations to the capital accounts of the Basic LTIP Units for federal income tax purposes, are automatically converted into non-voting Class C Common Units. Class C Common Units may be exchanged by the reporting person for Tanger Inc. common shares on a one-for-one basis. Basic LTIP Units are intended to qualify as profits interests for US federal income tax purposes. | These Basic LTIP Units are scheduled to vest on February 15, 2027 (subject to accelerated vesting in certain cases, such as death and certain involuntary terminations). | Includes Basic LTIP Units which were automatically converted into Class C Common Units. See footnote 3 discussing the conversion of the Basic LTIP Units.