CBL & ASSOCIATES PROPERTIES INC

CBL & Associates Properties, Inc. is a self-managed, self-administered, fully integrated real estate investment trust (REIT). The company owns, develops, acquires, leases, manages, and operates regional shopping malls, outlet centers, lifestyle centers, open-air centers, and other properties. As of December 31, 2025, its properties are located in 22 states, primarily in the southeastern and midwestern United States. CBL & Associates Properties, Inc. conducts substantially all its business through CBL & Associates Limited Partnership, which is a variable interest entity. The company is the 100% owner of two qualified REIT subsidiaries, CBL Holdings I, Inc. and CBL Holdings II, Inc. CBL Holdings I, Inc. is the sole general partner of the Operating Partnership. At December 31, 2025, CBL Holdings I, Inc. owned a 1.0% general partner interest and CBL Holdings II, Inc. owned a 98.98% limited partner interest in the Operating Partnership, resulting in a combined interest held by CBL & Associates Properties, Inc. of 99.98%. As of December 31, 2025, third parties owned a 0.02% limited partner interest in the Operating Partnership. The company's "All Other Properties" category includes office buildings, outparcels, and hotels. Property management and development activities are conducted through CBL & Associates Management, Inc., which is 100% owned by the Operating Partnership.