The Board of Directors and Stockholders of Simon Property Group, Inc.: We have audited the accompanying consolidated balance sheets of Simon Property Group, Inc. and Subsidiaries as of  December 31, 2011 and 2010, and the related consolidated statements of operations and comprehensive income, equity and  cash flows for each of the three years in the period ended December 31, 2011. These financial statements are the responsibility  of the Company’s management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United  States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial  statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and  disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates  made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a  reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the consolidated financial  position of Simon Property Group, Inc. and Subsidiaries at December 31, 2011 and 2010, and the consolidated results of their  operations and their cash flows for each of the three years in the period ended December 31, 2011, in conformity with U.S.  generally accepted accounting principles. We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States),  Simon Property Group, Inc. and Subsidiaries’ internal control over financial reporting as of December 31, 2011, based on criteria  established in Internal Control — Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway  Commission and our report dated February 28, 2012, expressed an unqualified opinion thereon. ERNST & YOUNG LLP Indianapolis, Indiana February 28, 2012  30 Simon Property Group, Inc. REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM