SKT

EX-99.1

2 skt8kex991march312026.htm

EX-99.1

Document

EXHIBIT 99.1

Earnings Release and

Supplemental Operating and Financial Data for the

Quarter Ended March 31, 2026

Table of Contents

Section

Earnings Release i-xvii

Portfolio Data:

Summary Operating Metrics 3

Geographic Diversification 4

Property Summary - Occupancy at End of Each Period Shown

5

Portfolio Map 6

Portfolio Occupancy at the End of Each Period 6

Center Sales Per Square Foot Ranking 7

Top 25 Tenants Based on Percentage of Total Annualized Base Rent 8

Lease Expirations

9

Capital Expenditures 10

Transaction Summary 11

Leasing Activity 12

Financial Data:

Consolidated Balance Sheets 13

Consolidated Statements of Operations 14

Components of Rental Revenues 15

Unconsolidated Joint Venture Information 16

Debt Outstanding Summary 17

Future Scheduled Principal Payments 19

Interest Rate Swap Strategy, Financial Covenants and Credit Ratings 20

Enterprise Value, Net Debt, Liquidity and Debt Ratios 21

Non-GAAP and Supplemental Measures:

FFO and FAD Analysis 22

Portfolio NOI and Same Center NOI 24

Adjusted EBITDA and EBITDAre 26

Net Debt 28

Pro Rata Balance Sheet Information 29

Pro Rata Statement of Operations Information 30

Guidance for 2026 31

Non-GAAP Definitions

32

Investor Information 36

News Release

Tanger Reports First Quarter Results and Increases 2026 Guidance

Tenant Demand Propels Record Leasing Volume and Merchandising Opportunities

Positioned for Long-Term Value Creation Through Organic and External Growth

Enhances Balance Sheet Capacity, Liquidity, and Flexibility

Greensboro, NC, April 30, 2026, Tanger® (NYSE:SKT), a leading owner and operator of outlet and other open-air retail shopping destinations, today reported financial results and operating metrics for the three months ended March 31, 2026.

“Tanger’s successful execution of its growth strategy delivered another quarter of strong financial and operating results, contributing to an increase in our full-year guidance,” said Stephen Yalof, President and Chief Executive Officer. “Through our proven leasing, operating, and marketing platforms and underpinned by disciplined financial strategies, we continue to curate our merchandising, intensify our real estate, and execute our external growth initiatives. We achieved record leasing volume fueled by retailer demand and limited new supply. We are attracting new and younger shoppers by adding sought-after retailers, restaurants, and entertainment destinations that elevate our centers and drive incremental traffic and value.”

Mr. Yalof continued, “We are pleased to have recently announced a 7% increase in our dividend, supported by our strong earnings growth and low dividend payout ratio. Tanger is well-positioned to deliver long-term value creation for our stakeholders through both organic and external growth, anchored by a strong, low-leveraged balance sheet that provides significant liquidity and flexibility.”

First Quarter Results

•Net income available to common shareholders was $0.24 per share, or $28.1 million, compared to $0.17 per share, or $19.0 million, for the prior year period. Net income for the first quarter of 2025 included a non-cash impairment charge of $0.04 per share, or $4.2 million, related to the center in Howell, Michigan that was sold in April 2025.

•Funds From Operations (“FFO”) available to common shareholders was $0.59 per share, or $70.4 million, compared to $0.53 per share, or $62.7 million, for the prior year period.

•Core Funds From Operations (“Core FFO”) available to common shareholders was $0.59 per share, or $70.4 million, compared to $0.53 per share, or $62.7 million, for the prior year period.

FFO and Core FFO are widely accepted supplemental non-GAAP financial measures used in the real estate industry to measure and compare the operating performance of real estate companies. Definitions of these non-GAAP financial measures and statements of the reasons why management believes these non-GAAP financial measures provide useful information to investors about the Company’s financial condition and results of operations, and, if applicable, the other purposes for which management uses the measures, as well as reconciliations of these non-GAAP financial measures to GAAP net income, can be found later in this release. Per share amounts for net income, FFO and Core FFO are on a diluted basis.

Operating Metrics

Below are key portfolio results for the total portfolio, including the Company’s pro rata share of unconsolidated joint ventures. Operating metrics for the first quarter of 2025 exclude the center in Howell, Michigan that was sold in April 2025.

•Occupancy was 97.0% on March 31, 2026, compared to 95.8% on March 31, 2025 and 98.1% on December 31, 2025. On a same center basis, occupancy was 96.9% on March 31, 2026, compared to 95.8% on March 31, 2025 and 98.2% on December 31, 2025.

•Same center net operating income (“Same Center NOI”), which is presented on a ca

skt-202602240000899715false00008997152026-02-242026-02-24

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

Current Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (date of earliest event reported): February 24, 2026

TANGER INC.

(Exact name of registrant as specified in its charter)

North Carolina1-1198656-1815473 (State or other jurisdiction of Incorporation)(Commission File Number)(I.R.S. Employer Identification Number)

3200 Northline Avenue, Suite 360, Greensboro, NC 27408 (Address of principal executive offices) (336) 292-3010 (Registrant’s telephone number, including area code)

N/A (former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered Common Shares, $0.01 par value SKTNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 2.02   Results of Operations and Financial Condition

On February 24, 2026, Tanger Inc. (the "Company") issued a press release announcing its results of operations and financial condition as of and for the quarter and year ended December 31, 2025. A copy of the Company's press release is hereby furnished as Exhibit 99.1, pages i - xvi, to this report on Form 8-K. The information contained in this report on Form 8-K, including Exhibit 99.1, shall not be deemed "filed" with the Securities and Exchange Commission nor incorporated by reference in any registration statement filed by the Company under the Securities Act of 1933, as amended, unless specified otherwise.

Item 7.01   Regulation FD Disclosure

On February 24, 2026, the Company made publicly available on its website, www.tanger.inc, certain supplemental operating and financial information for the quarter and year ended December 31, 2025. This supplemental operating and financial information is hereby included in Exhibit 99.1, pages 1 - 36. The information contained in this report on Form 8-K, including Exhibit 99.1, shall not be deemed "filed" with the Securities and Exchange Commission nor incorporated by reference in any registration statement filed by the Company under the Securities Act of 1933, as amended, unless specified otherwise. The information found on, or otherwise accessible through, the Company's website is not incorporated into, and does not form a part of, this current report on Form 8-K or any other report or document the Company files with or furnishes to the United States Securities and Exchange Commission.

Item 9.01   Financial Statements and Exhibits

(d) Exhibits

The following exhibits are included with this Report:

Exhibit No. 99.1 Press release announcing the results of operations and financial condition of the Company as of and for the quarter and year ended December 31, 2025 and supplemental information.

104Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: February 24, 2026

TANGER INC.

By:/s/ Michael J. Bilerman Michael J. Bilerman Executive Vice President, Chief Financial Officer and Chief Investment Officer

skt-202511040000899715false00008997152025-11-042025-11-04

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

Current Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (date of earliest event reported): November 4, 2025

TANGER INC.

(Exact name of registrant as specified in its charter)

North Carolina1-1198656-1815473 (State or other jurisdiction of Incorporation)(Commission File Number)(I.R.S. Employer Identification Number)

3200 Northline Avenue, Suite 360, Greensboro, NC 27408 (Address of principal executive offices) (336) 292-3010 (Registrant’s telephone number, including area code)

N/A (former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered Common Shares, $0.01 par value SKTNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 2.02   Results of Operations and Financial Condition

On November 4, 2025, Tanger Inc. (the "Company") issued a press release announcing its results of operations and financial condition as of and for the quarter ended September 30, 2025. A copy of the Company's press release is hereby furnished as Exhibit 99.1, pages i - xvii, to this report on Form 8-K. The information contained in this report on Form 8-K, including Exhibit 99.1, shall not be deemed "filed" with the Securities and Exchange Commission nor incorporated by reference in any registration statement filed by the Company under the Securities Act of 1933, as amended, unless specified otherwise.

Item 7.01   Regulation FD Disclosure

On November 4, 2025, the Company made publicly available on its website, www.tanger.com, certain supplemental operating and financial information for the quarter ended September 30, 2025. This supplemental operating and financial information is hereby included in Exhibit 99.1, pages 1 - 35. The information contained in this report on Form 8-K, including Exhibit 99.1, shall not be deemed "filed" with the Securities and Exchange Commission nor incorporated by reference in any registration statement filed by the Company under the Securities Act of 1933, as amended, unless specified otherwise. The information found on, or otherwise accessible through, the Company's website is not incorporated into, and does not form a part of, this current report on Form 8-K or any other report or document the Company files with or furnishes to the United States Securities and Exchange Commission.

Item 9.01   Financial Statements and Exhibits

(d) Exhibits

The following exhibits are included with this Report:

Exhibit No. 99.1 Press release announcing the results of operations and financial condition of the Company as of and for the quarter ended September 30, 2025 and supplemental information.

104Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: November 4, 2025

TANGER INC.

By:/s/ Michael J. Bilerman Michael J. Bilerman Executive Vice President, Chief Financial Officer and Chief Investment Officer