Tanger : 1Q 2024 Presentation

FIRST QUARTER 2024

Safe Harbor Statements

Certain statements made in this presentation contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Tanger Inc. (the "Company") intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and included this statement for purposes of complying with these safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies, beliefs and expectations, are generally identifiable by use of the words "anticipate," "believe," "can," "continue," "could," "designed," "estimate," "expect," "forecast," "goal," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "target," "will," "would," or similar expressions. Such forward-looking statements include the Company's expectations regarding future financial results and assumptions underlying that guidance, long-term growth, trends in retail traffic and tenant revenues, development initiatives and strategic partnerships, the anticipated impact of the Company's newly acquired assets in Huntsville and Asheville, as well as its newly opened Nashville development and related costs and anticipated yield, expectations regarding operational metrics, renewal trends, new revenue streams, its strategy and value proposition to retailers, participation in upcoming events, uses of and efforts to reduce costs of capital, liquidity, dividend payments and cash flows.

Other important factors that may cause actual results to differ materially from current expectations include, but are not limited to: our inability to develop new retail centers or expand existing retail centers successfully; risks related to the economic performance and market value of our retail centers; the relative illiquidity of real property investments; impairment charges affecting our properties; our acquisitions or dispositions of assets may not achieve anticipated results; competition for the acquisition and development of retail centers, and our inability to complete the acquisitions of retail centers we may identify; competition for tenants with competing retail centers; the diversification of our tenant mix and our entry into the operation of full price retail may not achieve our expected results; environmental regulations affecting our business; risks associated with possible terrorist activity or other acts or threats of violence and threats to public safety; risks related to the impact of macroeconomic conditions, including rising interest rates and inflation, on our tenants and on our business, financial condition, liquidity, results of operations and compliance with debt covenants; our dependence on rental income from real property; the fact that certain of our leases include co-tenancy and/or sales-based provisions that may allow a tenant to pay reduced rent and/or terminate a lease prior to its natural expiration; our dependence on the results of operations of our retailers and their bankruptcy, early termination or closing could adversely affect us; the impact of geopolitical conflicts; the immediate and long-term impact of the outbreak of a highly infectious or contagious disease on our tenants and on our business (including the impact of actions taken to contain the outbreak

or mitigate its impact); the fact that certain of our properties are subject to ownership interests held by third parties, whose interests may conflict with ours; risks related to climate change; increased costs and reputational harm associated with the increased focus on environmental, sustainability and social initiatives; risks related to uninsured losses; the risk that consumer, travel, shopping and spending habits may change; risks associated with our Canadian investments; risks associated with attracting and retaining key personnel; risks associated with debt financing; risks associated with our guarantees of debt for, or other support we may provide to, joint venture properties; the effectiveness of our interest rate hedging arrangements; our potential failure to qualify as a REIT; our legal obligation to pay dividends to our shareholders; legislative or regulatory actions that could adversely affect our shareholders, our dependence on distributions from the Operating Partnership to meet our financial obligations, including dividends; the risk of a cyber-attack or an act of cyber-terrorism on our systems; the uncertainties of costs to comply with regulatory changes (including potential costs to comply with proposed rules of the SEC to standardize climate-related disclosures); and other important factors which may cause actual results to differ materially from current expectations include, but are not limited to, those set forth under Item 1A - "Risk Factors" in the Company's and the Operating Partnership's Annual Report on Form 10-K for the year ended December 31, 2023.

We qualify all of our forward-looking statements by these cautionary statements. The forward-looking statements in this presentation are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition and results of operations. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, you should not rely on these forward-looking statements as predictions of future events. The events and circumstances reflected in our forward-looking statements may not be achieved or occur and actual results could differ materially from those projected in the forward-looking statements. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.

We use certain non-GAAP supplemental measures in this presentation, including Funds From Operations ("FFO"), Core Funds From Operations ("Core FFO"), same center net operating income ("Same Center NOI"), portfolio net operating income ("Portfolio NOI"), Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization for Real Estate ("Adjusted EBITDAre") and Net Debt. See definitions and reconciliations beginning on page 41.

Table of Contents

FIRST QUARTER 2024

Tanger at a Glance

Long-Term Foundation

• 43-year history and 31 years publicly traded on the NYSE (SKT)
• $3.4B market capitalization (1)
• $5.0B total enterprise value (1)
• Investment grade, well-laddered and low-leveraged balance sheet with additional credit capacity
• 40 properties totaling 15.6M square feet, including Tanger's newest outlet centers in Nashville, TN and Asheville, NC and first open-air lifestyle center in Huntsville, AL
• • 91% of outlet SF in leading tourist destination or top 50 MSA (2)
  • 95% of portfolio is open-air

Positioned for Growth

• Open-airportfolio provides brands and retailers an attractive and integral sales channel
• Centers sought out by consumers for branded merchandise at consistent value and experiences
• Strong Same Center NOI growth potential
• • Driving rents, maximizing occupancy, diversifying tenant roster and operating efficiently
• Significant real estate value creating opportunities
• Platform and balance sheet capacity to grow externally
• Attractive free cash flow yield
• Well-coveredand growing dividend

ACTIVE LEASING

• Grow Total Rent - Base Rent and Expense Recoveries
• Increase Occupancy
• Elevate, Diversify and Attract New Brands
• Activate Peripheral Land

EFFICIENT OPERATIONS

• Grow Ancillary Revenues
• Drive Operational Efficiencies
• Expand ESG Initiatives
• Active Asset Management to Maximize Center Value

TARGETED MARKETING

• Drive Sales Growth
• Results-FocusedMarketing with Personalized Experience
• Relationship-DrivenLoyalty Growth
• Engage with Local Community through Events and Celebrations

STRATEGIC FINANCE

• Prudent Balance Sheet Management
• Disciplined Approach to External Growth
• Increase Investment Community's Exposure to Tanger's Assets, Team and Long-Term Growth Potential

FIRST QUARTER 2024

THE OUTLET CHANNEL

Retailer Value Proposition

One of the most profitable channels for retailers and an important component of the omnichannel retail strategy

Productive Sales Model & Clearance Channel

Lower Cost of Occupancy

Higher Margins

Lower Customer Acquisition Costs

Direct Touchpoint with Consumer

Ability to Maintain Brand Integrity

FIRST QUARTER 2024

THE OUTLET CHANNEL

Retailers' Outlet Strategy

Retailers use the channel in a variety of ways that best align with their business model

Clear excess inventory and maintain brand integrity

Use excess materials with made-for-outlet inventory

Hybrid and full price offerings

"Try before you buy" model for national brands to test the channel and new locations