– Steven B. Tanger to Become Chair Emeritus –

– Luis Ubiñas to Assume Role of Non-Executive Chair –

– Bridget Ryan-Berman to Conclude Service as Lead Independent Director –

Tanger® (NYSE: SKT), a leading owner and operator of outlet and other open‑air retail shopping destinations, today announced a planned transition in the leadership of its Board of Directors, effective at the Company’s 2026 Annual Meeting of Shareholders on May 8, 2026.

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Steven B. Tanger

At the meeting, Steven B. Tanger will retire from his role as Chair of the Board and assume the title of Chair Emeritus, marking the culmination of 40 years of leadership and service to the Company. Luis Ubiñas, an independent director, will succeed him as Non‑Executive Chair of the Board. At the same time, Bridget Ryan-Berman will conclude her service as Lead Independent Director and continue to serve on the Board.

“Steve’s impact on Tanger has been immeasurable,” said Stephen Yalof, President and Chief Executive Officer. “For more than four decades, his leadership, vision, and commitment to excellence have helped shape Tanger into the company it is today. We are grateful that we will continue to benefit from his insight and counsel as Chair Emeritus.”

A director since 1993, Mr. Tanger has served as Chair of the Board since January 2021 and was the Company’s Chief Executive Officer from 2009 to 2020. Over his tenure, he played a central role in expanding Tanger’s portfolio to 38 outlet centers and three open‑air lifestyle centers across 22 U.S. states and Canada, while strengthening the Tanger brand and culture.

In addition to his business leadership, Mr. Tanger has been widely recognized for his longstanding civic and philanthropic contributions. He received the Life Excalibur Award from the American Cancer Society in 1996 for his efforts in the fight against breast cancer, and the UJA‑Federation Award of Excellence in 2011. He has also received several of the highest civilian honors from multiple states, including North Carolina’s Order of the Long Leaf Pine, South Carolina’s Order of the Palmetto, and Ohio’s Commodores Award.

In 2013, Mr. Tanger became the name donor for the Steven Tanger Center for the Performing Arts in Greensboro, NC. He was named Ernst & Young’s 2014 Entrepreneur of the Year - Southeast in Retail and Hospitality and inducted into both the North Carolina Business and the Outlet Industry Halls of Fame.

“Serving this company and its people has been one of the great privileges of my life,” said Mr. Tanger. “I have tremendous confidence in the Board and management team and look forward to supporting Tanger’s continued success in my new role.”

Mr. Yalof also recognized Ms. Ryan-Berman for her leadership as Lead Independent Director during a period of significant growth and strategic progress for Tanger. “Bridget’s thoughtful judgment, strong governance perspective, and steady leadership have strengthened Tanger’s Board, and we are grateful for her continued service as a Board member.”

Ms. Ryan-Berman has served on Tanger’s Board of Directors since 2009 and, as Lead Independent Director since 2023, she has overseen a transformation of the company’s strategy, platform, and leadership team. In addition to her extensive board leadership experience with multiple organizations, she has held executive roles at globally recognized companies, including Ralph Lauren, Victoria’s Secret, Apple, and Giorgio Armani.

“It has been an honor to work alongside such a dedicated and accomplished group of directors and executives,” said Ms. Ryan-Berman. “I am excited to support Luis as Chair and to continue contributing to the Board as we build on Tanger’s strong foundation.”

Mr. Ubiñas is a trusted advisor to public and private companies with decades of board and advisory experience. A director at Tanger since 2019, he also serves as Chair of the Statue of Liberty & Ellis Island Foundation and as a member of the Board of Directors of AT&T. Additionally, he has served as Lead Independent Director for Electronic Arts (EA) since 2015 and, in that role, presided over EA’s recent leveraged buyout. From 2008 to 2013, Mr. Ubiñas was President of the Ford Foundation, and he spent 18 years at McKinsey & Company, where, as a Senior Partner, he led the firm’s media practice.

“We are pleased to welcome Luis as Non‑Executive Chair of the Board,” Mr. Yalof added. “His strategic insight, global perspective, and deep governance experience will be invaluable as we continue to focus on long‑term performance and disciplined growth.”

Mr. Ubiñas added, “I am honored to step into the role of Chair for Tanger and grateful for the confidence of my fellow directors. I look forward to working closely with the Board and management team to serve the best interests of Tanger and its stakeholders.”

In his role as Non‑Executive Chair, Mr. Ubiñas will assume the responsibilities previously held by the Lead Independent Director.

About Tanger®

Tanger Inc. (NYSE: SKT) is a leading owner and operator of outlet and other open-air retail shopping destinations, with 45 years of expertise in the retail and outlet shopping industries. Tanger’s portfolio of 38 outlet centers and three open-air lifestyle centers includes more than 16 million square feet well positioned across tourist destinations and vibrant markets in 22 U.S. states and Canada. A publicly traded REIT since 1993, Tanger continues to innovate the retail experience for its shoppers with over 3,000 stores operated by more than 800 different brand name companies. For more information on Tanger, call 1-800-4TANGER or visit tanger.inc.

Tanger Inc. (together with its subsidiaries, the “Company”) uses, and intends to continue to use, its Investor Relations website, which can be found at investors.tanger.inc, as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD. Additional information about the Company can also be found through social media channels. The Company encourages investors and others interested in the Company to review the information on its Investor Relations website and on social media channels. The information contained on, or that may be accessed through, our website or social media platforms is not incorporated by reference into, and is not a part of, this document.

Safe Harbor Statement

This release contains certain 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. 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. Forward-looking statements, which are based on certain assumptions and describe the Company's future plans, strategies and expectations, are generally identifiable by use of the words "believe," "expect," "intend," “planned,” "anticipate," or similar expressions.

These forward-looking statements are based upon the beliefs and expectations of management at the time of this release. You should not rely on forward-looking statements since they involve known and unknown risks and uncertainties which could cause actual results to differ materially from those presented in the forward-looking statements. Please refer to the documents filed by the Company with the SEC, including specifically the "Risk Factors" sections of the Company's Annual Report on Form 10-K for the year ended December 31, 2025, and the Company's other filings with the SEC, which identify additional factors that could cause actual results to differ from those contained in forward-looking statements. The Company does not undertake any obligation to update these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as may be required by law.

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