SEC Filing | Macerich

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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) August 5, 2013

THE MACERICH COMPANY
(Exact Name of Registrant as Specified in Charter)


MARYLAND (State or Other Jurisdiction of Incorporation)		1-12504 (Commission File Number)		95-4448705 (IRS Employer Identification No.)

401 Wilshire Boulevard, Suite 700, Santa Monica, California 90401
(Address of Principal Executive Offices) (Zip Code)

Registrant's telephone number, including area code (310) 394-6000

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 (see General Instruction A.2. below):

o: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o: Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o: Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
o: Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))

ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

The Company issued a press release on August 5, 2013 announcing results of operations for the Company for the quarter ended June 30, 2013 and such press release is furnished as Exhibit 99.1 hereto.

The press release included as an exhibit with this report is being furnished pursuant to Item 2.02 and Item 7.01 of Form 8-K and shall not be deemed to be "filed" with the SEC or incorporated by reference into any other filing with the SEC.

ITEM 7.01 REGULATION FD DISCLOSURE.

On August 5, 2013, the Company made available on its website a financial supplement containing financial and operating information of the Company ("Supplemental Financial Information") for the three and six months ended June 30, 2013 and such Supplemental Financial Information is furnished as Exhibit 99.2 hereto.

The Supplemental Financial Information included as an exhibit with this report is being furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed to be "filed" with the SEC or incorporated by reference into any other filing with the SEC.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

Listed below are the financial statements, pro forma financial information and exhibits furnished as part of this report:

(a), (b) and (c) Not applicable.

(d) Exhibits.

Exhibit Index attached hereto and incorporated herein by reference.

SIGNATURES

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


		THE MACERICH COMPANY
		By: THOMAS E. O'HERN
August 5, 2013 Date		/s/ THOMAS E. O'HERN Senior Executive Vice President, Chief Financial Officer and Treasurer

EXHIBIT INDEX

EXHIBIT NUMBER			NAME

	99.1		Press Release dated August 5, 2013
	99.2		Supplemental Financial Information for the three and six months ended June 30, 2013

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ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

ITEM 7.01 REGULATION FD DISCLOSURE.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

SIGNATURES
EXHIBIT INDEX

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Exhibit 99.1

PRESS RELEASE


For:		THE MACERICH COMPANY

MACERICH ANNOUNCES AN 18% INCREASE IN AFFO PER SHARE
AND INCREASED EARNINGS GUIDANCE

Santa Monica, CA (8/5/2013)—The Macerich Company (NYSE Symbol: MAC) today announced results of operations for the quarter ended June 30, 2013 which included adjusted funds from operations ("AFFO") diluted of $130.4 million or $.87 per share-diluted compared to $106.2 million or $.74 per share-diluted for the quarter ended June 30, 2012. Net income attributable to the Company was $219.0 million or $1.57 per share-diluted for the quarter ended June 30, 2013 compared to net income attributable to the Company for the quarter ended June 30, 2012 of $133.4 million or $1.00 per share-diluted. A description and reconciliation of FFO per share-diluted and AFFO per share-diluted to EPS-diluted is included in the financial tables accompanying this press release.

Recent Highlights:

•: Mall tenant annual sales per square foot increased 6.2% for the year ended June 30, 2013 to $545 compared to $513 for the year ended June 30, 2012.
•: The releasing spreads for the year ended June 30, 2013 were up 14.2%.
•: Mall portfolio occupancy was 93.8% at June 30, 2013 compared to 92.7% at June 30, 2012.
•: AFFO per share-diluted was $.87, up 18% compared to the quarter ended June 30, 2012.
•: Fashion Outlets of Chicago opened on August 1^st. The 526,000 square foot center was 93% occupied on opening day.
•: During the quarter the Company sold five assets with its pro rata share of the gross sales proceeds totaling over $465 million.

Commenting on the quarter, Arthur Coppola chairman and chief executive officer of Macerich stated, "It was a very strong quarter for us. Our operating fundamentals continued their upward trend with significant occupancy gains, continued tenant sales growth and a solid same center net operating income increase. In addition, we successfully continued executing our strategy of refining our portfolio with the sale of five non-core assets during the quarter."

Developments:

Fashion Outlets of Chicago, a 526,000 square foot fashion outlet center near O'Hare International Airport, opened on August 1, 2013. The $211 million project opened with 93% of the tenants in occupancy on opening day. The anchors are Last Call by Neiman Marcus, Bloomingdale's The Outlet Store, Saks Fifth Avenue Off 5^th and Forever 21. The anchors are joined by such stellar fashion retailers as Longchamp, Brunello Cucinelli, Prada, Gucci, Armani, Halston, Michael Kors, Coach, Coach Men's, Tory Burch and many others.

At Tysons Corner Center, a 2.1 million square foot super regional mall, the Company is building a mixed-use densification which will add 1.4 million square feet to one of the country's premier retail centers. The Tysons expansion includes a 19-story office tower; a 500,000 square foot, 30-story, 430 unit luxury residential tower; and a 17-story, 300-room Hyatt Regency hotel. The office building is currently over 60% leased. The project is scheduled to open in 2014.

Disposition Activity:

During the quarter, the Company continued the refinement of its portfolio with the sale of five non-core assets. The assets sold were: the Redmond Town Center office building, Green Tree Mall in

Clarksville, Indiana, Northridge Mall in Salinas, California, Rimrock Mall in Billings, Montana and Kitsap Mall in Silverdale, Washington. The average annual sales per-square-foot for these malls was $389. The Company's pro rata share of the total gross sales proceeds was $468 million. In addition, on August 1, the Company sold the retail component of Redmond Town Center and its pro rata share of the sales proceeds was approximately $63.6 million.

Equity and Financing Activity:

During the quarter, concurrent with the Company's inclusion into the S&P 500 Index, the Company sold 2,456,956 shares of common equity at an average sales price of $70.42 per share. The common stock was sold under its at-the-market ("ATM") program. The net proceeds were $171.2 million and were used to pay down debt.

The Company has committed to an $850 million refinancing of the debt on the Tysons Corner super regional mall. The new fixed rate 10 year loan has an interest rate of 4.10%. The loan will close on August 30 and will pay off the existing $299.5 million loan that has a 4.78% interest rate. The Company owns 50% of the center and its $275 million share of excess loan proceeds will be used to pay down debt.

The Company has arranged an extension and rate reduction on its $1.5 billion unsecured line of credit. The new facility has an August 6, 2018 maturity date and the interest rate, at the Company's current leverage level, was reduced to 1.50% over LIBOR, down from 2.00% over LIBOR. This facility can be expanded to $2.0 billion at the Company's election.

2013 Earnings Guidance:

Management is increasing its previously issued estimated 2013 FFO per share-diluted guidance range by $.03 per share to $3.38 to $3.48.

A reconciliation of estimated EPS to FFO per share -diluted follows:


Estimated EPS range:	$	2.11	to	$	2.21
Less: estimated Gain on asset sales		-1.56	to		-1.56
Plus: Real estate depreciation and amortization		2.83	to		2.83

Estimated range for FFO per share-diluted	$	3.38	to	$	3.48

Included in the above FFO per share guidance is an increase in the assumption of same center net operating income to 3.75% to 4.25%. Also included is a reduction in lease termination revenue to $3 million from the previous estimate of $7 million. No further asset sales, above the $532 million mentioned above, are assumed in this guidance.

Macerich, an S&P 500 company, is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States.

Macerich currently owns approximately 61 million square feet of real estate consisting primarily of interests in 58 regional shopping centers. Macerich specializes in successful retail properties in many of the country's most attractive, densely populated markets with significant presence in California, Arizona, Chicago, Greater New York Metro and Washington, DC. Additional information about Macerich can be obtained from the Company's website at www.macerich.com.

Investor Conference Call

The Company will provide an online Web simulcast and rebroadcast of its quarterly earnings conference call. The call will be available on The Macerich Company's website at www.macerich.com (Investing Section) and through CCBN at www.earnings.com. The call begins Tuesday, August 6, 2013 at 11:00 AM Central Time. To listen to the call, please go to any of these websites at least 15 minutes

prior to the call in order to register and download audio software if needed. An online replay at www.macerich.com (Investing Section) will be available for one year after the call.

The Company will publish a supplemental financial information package which will be available at www.macerich.com in the Investing Section. It will also be furnished to the SEC as part of a Current Report on Form 8-K.

Note: This release contains statements that constitute forward-looking statements which can be identified by the use of words, such as "expects," "anticipates," "assumes," "projects," "estimated" and "scheduled" and similar expressions that do not relate to historical matters. Stockholders are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company to vary materially from those anticipated, expected or projected. Such factors include, among others, general industry, as well as national, regional and local economic and business conditions, which will, among other things, affect demand for retail space or retail goods, availability and creditworthiness of current and prospective tenants, anchor or tenant bankruptcies, closures, mergers or consolidations, lease rates, terms and payments, interest rate fluctuations, availability, terms and cost of financing and operating expenses; adverse changes in the real estate markets including, among other things, competition from other companies, retail formats and technology, risks of real estate development and redevelopment, acquisitions and dispositions; the liquidity of real estate investments, governmental actions and initiatives (including legislative and regulatory changes); environmental and safety requirements; and terrorist activities or other acts of violence which could adversely affect all of the above factors. The reader is directed to the Company's various filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended December 31, 2012, for a discussion of such risks and uncertainties, which discussion is incorporated herein by reference. The Company does not intend, and undertakes no obligation, to update any forward-looking information to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events unless required by law to do so.

(See attached tables)

THE MACERICH COMPANY

FINANCIAL HIGHLIGHTS

(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)

Results of Operations:

	Results before Discontinued Operations(a)						Impact of Discontinued Operations(a)						Results after Discontinued Operations(a)

	For the Three Months Ended June 30,						For the Three Months Ended June 30,						For the Three Months Ended June 30,
	Unaudited												Unaudited
	2013			2012			2013			2012			2013			2012
Minimum rents	$	150,761		$	120,186		$	(3,769	)	$	(7,574	)	$	146,992		$	112,612
Percentage rents		2,798			2,872			24			(247	)		2,822			2,625
Tenant recoveries		87,307			66,013			(1,943	)		(4,388	)		85,364			61,625
Management Companies' revenues		10,301			9,657			—			—			10,301			9,657
Other income		11,733			9,736			(235	)		(598	)		11,498			9,138

Total revenues		262,900			208,464			(5,923	)		(12,807	)		256,977			195,657

Shopping center and operating expenses		84,743			66,791			(2,237	)		(4,759	)		82,506			62,032
Management Companies' operating expenses		22,816			23,734			—			—			22,816			23,734
REIT general and administrative expenses		6,693			5,655			—			—			6,693			5,655
Depreciation and amortization		93,984			73,003			(1,651	)		(3,834	)		92,333			69,169
Interest expense		54,439			45,068			—			(1,771	)		54,439			43,297
Gain on extinguishment of debt, net		(1,943	)		(120,356	)		—			120,356			(1,943	)		—

Total expenses		260,732			93,895			(3,888	)		109,992			256,844			203,887
Equity in income of unconsolidated joint ventures		92,201			18,691			—			—			92,201			18,691
Co-venture expense(b)		(2,138	)		(1,304	)		—			—			(2,138	)		(1,304	)
Income tax benefit		1,477			3,075			—			—			1,477			3,075
Gain (loss) on remeasurement, sale or write down of assets, net		141,108			9,512			(141,906	)		(11,040	)		(798	)		(1,528	)

Income from continuing operations		234,816			144,543			(143,941	)		(133,839	)		90,875			10,704

Discontinued operations:
Gain on sale, disposition or write down of assets, net		—			—			141,906			131,396			141,906			131,396
Income from discontinued operations		—			—			2,035			2,443			2,035			2,443

Total income from discontinued operations		—			—			143,941			133,839			143,941			133,839

Net income		234,816			144,543			—			—			234,816			144,543
Less net income attributable to noncontrolling interests		15,819			11,189			—			—			15,819			11,189

Net income attributable to the Company	$	218,997		$	133,354		$	0		$	0		$	218,997		$	133,354

Average number of shares outstanding—basic		139,372			132,768									139,372			132,768

Average shares outstanding, assuming full conversion of OP Units(c)		149,311			144,030									149,311			144,030

Average shares outstanding—Funds From Operations ("FFO")—diluted(c)		149,465			144,139									149,465			144,139

Per share income—diluted before discontinued operations		—			—								$	0.61		$	0.07

Net income per share—basic	$	1.57		$	1.00								$	1.57		$	1.00

Net income per share—diluted	$	1.57		$	1.00								$	1.57		$	1.00

Dividend declared per share	$	0.58		$	0.55								$	0.58		$	0.55

FFO—basic(c)(d)	$	130,405		$	226,212								$	130,405		$	226,212

FFO—diluted(c)(d)	$	130,405		$	226,212								$	130,405		$	226,212

FFO per share—basic(c)(d)	$	0.87		$	1.57								$	0.87		$	1.57

FFO per share—diluted(c)(d)	$	0.87		$	1.57								$	0.87		$	1.57

Adjusted FFO ("AFFO") per share—diluted(c)(d)	$	0.87		$	0.74								$	0.87		$	0.74

THE MACERICH COMPANY

FINANCIAL HIGHLIGHTS

(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)

Results of Operations:

	Results before Discontinued Operations(a)						Impact of Discontinued Operations(a)						Results after Discontinued Operations(a)

	For the Six Months Ended June 30,						For the Six Months Ended June 30,						For the Six Months Ended June 30,
	Unaudited												Unaudited
	2013			2012			2013			2012			2013			2012
Minimum rents	$	299,917		$	243,823		$	(9,210	)	$	(17,444	)	$	290,707		$	226,379
Percentage rents		7,175			6,864			16			(613	)		7,191			6,251
Tenant recoveries		172,631			132,785			(4,804	)		(9,180	)		167,827			123,605
Management Companies' revenues		20,451			20,872			—			—			20,451			20,872
Other income		25,510			20,738			(509	)		(3,888	)		25,001			16,850

Total revenues		525,684			425,082			(14,507	)		(31,125	)		511,177			393,957

Shopping center and operating expenses		170,120			135,607			(5,014	)		(11,045	)		165,106			124,562
Management Companies' operating expenses		45,965			46,259			—			—			45,965			46,259
REIT general and administrative expenses		12,717			10,174			—			—			12,717			10,174
Depreciation and amortization		187,143			149,968			(4,007	)		(9,269	)		183,136			140,699
Interest expense		108,137			92,191			2			(6,370	)		108,139			85,821
Gain on extinguishment of debt, net		(1,943	)		(120,012	)		—			120,012			(1,943	)		—

Total expenses		522,139			314,187			(9,019	)		93,328			513,120			407,515
Equity in income of unconsolidated joint ventures		110,316			49,309			—			—			110,316			49,309
Co-venture expense(b)		(4,179	)		(2,395	)		—			—			(4,179	)		(2,395	)
Income tax benefit		1,721			1,225			—			—			1,721			1,225
Gain (loss) on remeasurement, sale or write down of assets, net		145,942			(26,215	)		(141,912	)		44,184			4,030			17,969

Income from continuing operations		257,345			132,819			(147,400	)		(80,269	)		109,945			52,550

Discontinued operations:
Gain on sale, disposition or write down of assets, net		—			—			141,912			75,828			141,912			75,828
Income from discontinued operations		—			—			5,488			4,441			5,488			4,441

Total income from discontinued operations		—			—			147,400			80,269			147,400			80,269

Net income		257,345			132,819			—			—			257,345			132,819
Less net income attributable to noncontrolling interests		20,256			13,533			—			—			20,256			13,533

Net income attributable to the Company	$	237,089		$	119,286		$	0		$	0		$	237,089		$	119,286

Average number of shares outstanding—basic		138,460			132,520									138,460			132,520

Average shares outstanding, assuming full conversion of OP Units(c)		148,532			143,741									148,532			143,741

Average shares outstanding—Funds From Operations ("FFO")—diluted(c)		148,653			143,832									148,653			143,832

Per share income—diluted before discontinued operations		—			—								$	0.72		$	0.34

Net income per share—basic	$	1.71		$	0.90								$	1.71		$	0.90

Net income per share—diluted	$	1.71		$	0.90								$	1.71		$	0.90

Dividend declared per share	$	1.16		$	1.10								$	1.16		$	1.10

FFO—basic(c)(d)	$	257,379		$	332,385								$	257,379		$	332,385

FFO—diluted(c)(d)	$	257,379		$	332,385								$	257,379		$	332,385

FFO per share—basic(c)(d)	$	1.73		$	2.31								$	1.73		$	2.31

FFO per share—diluted(c)(d)	$	1.73		$	2.31								$	1.73		$	2.31

Adjusted FFO ("AFFO") per share—diluted(c)(d)	$	1.73		$	1.50								$	1.73		$	1.50

THE MACERICH COMPANY

FINANCIAL HIGHLIGHTS

(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)

(a)

The Company has classified the results of operations on dispositions as discontinued operations for the three and six months ended June 30, 2013 and 2012.

(b)

This represents the outside partners' allocation of net income in the Chandler Fashion Center/Freehold Raceway Mall joint venture.

(c)

The Macerich Partnership, L.P. (the "Operating Partnership" or the "OP") has operating partnership units ("OP units"). OP units can be converted into shares of Company common stock. Conversion of the OP units not owned by the Company has been assumed for purposes of calculating FFO per share and the weighted average number of shares outstanding. The computation of average shares for FFO—diluted includes the effect of share and unit-based compensation plans, stock warrants and convertible senior notes using the treasury stock method. It also assumes conversion of MACWH, LP preferred and common units to the extent they are dilutive to the calculation.

(d)

The Company uses FFO in addition to net income to report its operating and financial results and considers FFO and FFO-diluted as supplemental measures for the real estate industry and a supplement to Generally Accepted Accounting Principles ("GAAP") measures. NAREIT defines FFO as net income (loss) (computed in accordance with GAAP), excluding gains (or losses) from extraordinary items and sales of depreciated operating properties, plus real estate related depreciation and amortization, impairment write-downs of real estate and write-downs of investments in an affiliate where the write-downs have been driven by a decrease in the value of real estate held by the affiliate and after adjustments for unconsolidated joint ventures. Adjustments for unconsolidated joint ventures are calculated to reflect FFO on the same basis.

Adjusted FFO ("AFFO") excludes the FFO impact of Shoppingtown Mall and Valley View Center for the three and six months ended June 30, 2012. In December 2011, the Company conveyed Shoppingtown Mall to the lender by a deed-in-lieu of foreclosure. In July 2010, a court-appointed receiver assumed operational control of Valley View Center and responsibility for managing all aspects of the property. Valley View Center was sold by the receiver on April 23, 2012, and the related non-recourse mortgage loan obligation was fully extinguished on that date. On May 31, 2012, the Company conveyed Prescott Gateway to the lender by a deed-in-lieu of foreclosure and the debt was forgiven resulting in a gain on extinguishment of debt of $16.4 million. AFFO excludes the gain on extinguishment of debt on Prescott Gateway for the three and six months ended June 30, 2012.

FFO and FFO on a diluted basis are useful to investors in comparing operating and financial results between periods. This is especially true since FFO excludes real estate depreciation and amortization, as the Company believes real estate values fluctuate based on market conditions rather than depreciating in value ratably on a straight-line basis over time. The Company believes that AFFO and AFFO on a diluted basis provide useful supplemental information regarding the Company's performance as they show a more meaningful and consistent comparison of the Company's operating performance and allow investors to more easily compare the Company's results without taking into account non-cash credits and charges on properties controlled by either a receiver or loan servicer. FFO and AFFO on a diluted basis are measures investors find most useful in measuring the dilutive impact of outstanding convertible securities. FFO and AFFO do not represent cash flow from operations as defined by GAAP, should not be considered as an alternative to net income (loss) as defined by GAAP, and are not indicative of cash available to fund all cash flow needs. The Company also cautions that FFO and AFFO as presented, may not be comparable to similarly titled measures reported by other real estate investment trusts.

THE MACERICH COMPANY

FINANCIAL HIGHLIGHTS

(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)

Reconciliation of Net income attributable to the Company to FFO and AFFO(d):

	For the Three Months Ended June 30,						For the Six Months Ended June 30,

	Unaudited						Unaudited
	2013			2012			2013			2012
Net income attributable to the Company	$	218,997		$	133,354		$	237,089		$	119,286
Adjustments to reconcile net income attributable to the Company to FFO—basic and diluted:
Noncontrolling interests in OP		15,902			11,294			17,244			10,106
(Gain) loss on remeasurement, sale or write down of consolidated assets, net		(141,108	)		(9,512	)		(145,942	)		26,215
plus (loss) gain on undepreciated asset sales—consolidated assets		(10	)		—			2,238			—
plus non-controlling interests share of (loss) gain on remeasurement, sale or write down of consolidated joint ventures, net		(9	)		(17	)		3,163			3,538
(Gain) loss on remeasurement, sale or write down of assets from unconsolidated entities (pro rata), net		(73,035	)		354			(73,016	)		(11,157	)
plus gain on undepreciated asset sales—unconsolidated entities (pro rata)		486			—			484			—
Depreciation and amortization on consolidated assets		93,984			73,003			187,143			149,968
Less depreciation and amortization allocable to noncontrolling interests on consolidated joint ventures		(4,603	)		(4,578	)		(9,137	)		(9,428	)
Depreciation and amortization on joint ventures (pro rata)		22,815			25,553			44,147			50,310
Less: depreciation on personal property		(3,014	)		(3,239	)		(6,034	)		(6,453	)

Total FFO—basic and diluted	$	130,405		$	226,212		$	257,379		$	332,385

Additional adjustments to arrive at AFFO—diluted(d):
Shoppingtown Mall		—			36			—			396
Valley View Center		—			(103,745	)		—			(101,116	)
Prescott Gateway		—			(16,350	)		—			(16,350	)

Total AFFO—diluted	$	130,405		$	106,153		$	257,379		$	215,315

Reconciliation of EPS to FFO and AFFO per diluted share(d):

	For the Three Months Ended June 30,						For the Six Months Ended June 30,

	Unaudited						Unaudited
	2013			2012			2013			2012
Earnings per share—diluted	$	1.57		$	1.00		$	1.71		$	0.90
Per share impact of depreciation and amortization of real estate		0.73			0.63			1.45			1.28
Per share impact of gain on remeasurement, sale or write down of assets		(1.43	)		(0.06	)		(1.43	)		0.13

FFO per share—diluted	$	0.87		$	1.57		$	1.73		$	2.31

Per share impact—Shoppingtown Mall, Valley View Center and Prescott Gateway		0.00			(0.83	)		0.00			(0.81	)

AFFO per share—diluted	$	0.87		$	0.74		$	1.73		$	1.50

THE MACERICH COMPANY

FINANCIAL HIGHLIGHTS

(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)

Reconciliation of Net income attributable to the Company to EBITDA:

	For the Three Months Ended June 30,						For the Six Months Ended June 30,

	Unaudited						Unaudited
	2013			2012			2013			2012
Net income attributable to the Company	$	218,997		$	133,354		$	237,089		$	119,286
Interest expense—consolidated assets		54,439			45,068			108,137			92,191
Interest expense—unconsolidated entities (pro rata)		16,977			26,056			35,849			52,778
Depreciation and amortization—consolidated assets		93,984			73,003			187,143			149,968
Depreciation and amortization—unconsolidated entities (pro rata)		22,815			25,553			44,147			50,310
Noncontrolling interests in OP		15,902			11,294			17,244			10,106
Less: Interest expense and depreciation and amortization allocable to noncontrolling interests on consolidated joint ventures		(7,447	)		(7,503	)		(14,741	)		(15,279	)
Gain on extinguishment of debt—consolidated entities		(1,943	)		(120,356	)		(1,943	)		(120,012	)
(Gain) loss on remeasurement, sale or write down of assets—consolidated assets, net		(141,108	)		(9,512	)		(145,942	)		26,215
(Gain) loss on remeasurement, sale or write down of assets—unconsolidated entities (pro rata), net		(73,035	)		354			(73,016	)		(11,157	)
Add: Non-controlling interests share of (loss) gain on sale of consolidated assets, net		(9	)		(17	)		3,163			3,538
Income tax benefit		(1,477	)		(3,075	)		(1,721	)		(1,225	)
Distributions on preferred units		183			208			367			416

EBITDA(e)	$	198,278		$	174,427		$	395,776		$	357,135

Reconciliation of EBITDA to Same Centers—Net Operating Income ("NOI"):

	For the Three Months Ended June 30,						For the Six Months Ended June 30,

	Unaudited						Unaudited
	2013			2012			2013			2012
EBITDA(e)	$	198,278		$	174,427		$	395,776		$	357,135
Add: REIT general and administrative expenses		6,693			5,655			12,717			10,174
Management Companies' revenues		(10,301	)		(9,657	)		(20,451	)		(20,872	)
Management Companies' operating expenses		22,816			23,734			45,965			46,259
Lease termination income, straight-line and above/below market adjustments to minimum rents of comparable centers		(2,602	)		(4,105	)		(4,879	)		(9,401	)
EBITDA of non-comparable centers		(35,052	)		(18,209	)		(68,904	)		(36,955	)

Same Centers—NOI(f)	$	179,832		$	171,845		$	360,224		$	346,340

(e): EBITDA represents earnings before interest, income taxes, depreciation, amortization, noncontrolling interests, extraordinary items, gain (loss) on remeasurement, sale or write down of assets and preferred dividends and includes joint ventures at their pro rata share. Management considers EBITDA to be an appropriate supplemental measure to net income because it helps investors understand the ability of the Company to incur and service debt and make capital expenditures. EBITDA should not be construed as an alternative to operating income as an indicator of the Company's operating performance, or to cash flows from operating activities (as determined in accordance with GAAP) or as a measure of liquidity. EBITDA, as presented, may not be comparable to similarly titled measurements reported by other companies.
(f): The Company presents same center NOI because the Company believes it is useful for investors to evaluate the operating performance of comparable centers. Same center NOI is calculated using total EBITDA and subtracting out EBITDA from non-comparable centers and eliminating the management companies and the Company's general and administrative expenses. Same center NOI excludes the impact of lease termination income, straight-line and above/below market adjustments to minimum rents.

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Exhibit 99.1

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Exhibit 99.2

Supplemental Financial Information
For the three and six months ended June 30, 2013

The Macerich Company

Supplemental Financial and Operating Information

Table of Contents

All information included in this supplemental financial package is unaudited, unless otherwise indicated.

		Page No.


Corporate Overview		1-3
Overview		1
Capital Information and Market Capitalization		2
Changes in Total Common and Equivalent Shares/Units		3
Financial Data		4-10
Unaudited Pro Rata Statement of Operations		5-6
Notes to Unaudited Pro Rata Statement of Operations		7
Unaudited Pro Rata Balance Sheet		8
Supplemental FFO Information		9
Capital Expenditures		10
Operational Data		11-25
Sales Per Square Foot		11
Sales Per Square Foot by Property Ranking		12-16
Occupancy		17
Average Base Rent Per Square Foot		18
Cost of Occupancy		19
Percentage of Net Operating Income by State		20
Property Listing		21-25
Joint Venture List		26-27
Debt Tables		28-30
Debt Summary		28
Outstanding Debt by Maturity Date		29-30
Development Pipeline Forecast		31
Corporate Information		32

This Supplemental Financial Information should be read in connection with the Company's second quarter 2013 earnings announcement (included as Exhibit 99.1 of the Company's Current Report on 8-K, event date August 5, 2013) as certain disclosures, definitions and reconciliations in such announcement have not been included in this Supplemental Financial Information.

The Macerich Company

Supplemental Financial and Operating Information

Overview

The Macerich Company (the "Company") is involved in the acquisition, ownership, development, redevelopment, management and leasing of regional and community shopping centers located throughout the United States. The Company is the sole general partner of, and owns a majority of the ownership interests in, The Macerich Partnership, L.P., a Delaware limited partnership (the "Operating Partnership").

As of June 30, 2013, the Operating Partnership owned or had an ownership interest in 58 regional shopping centers and ten community/power shopping centers aggregating approximately 61 million square feet of gross leasable area ("GLA"). These 68 centers are referred to hereinafter as the "Centers", unless the context requires otherwise.

The Company sold four Regional Shopping Centers in the second quarter: Green Tree Mall on May 31, 2013, Northridge Mall and Rimrock Mall on June 4, 2013 and Kitsap Mall on June 12, 2013 (collectively, the "2013 Disposition Centers").

The Company is negotiating with the loan servicer for Fiesta Mall, which will likely result in a transition of the asset to the loan servicer or a receiver. Consequently, Fiesta Mall has been excluded from certain Non-GAAP operating measures in 2013, including Sales Per Square Foot, Occupancy, Average Base Rent Per Square Foot and Cost of Occupancy as well as our Property Listing.

The Company is a self-administered and self-managed real estate investment trust ("REIT") and conducts all of its operations through the Operating Partnership and the Company's management companies (collectively, the "Management Companies").

All references to the Company in this Exhibit include the Company, those entities owned or controlled by the Company and predecessors of the Company, unless the context indicates otherwise.

This document contains information constituting forward-looking statements and includes expectations regarding the Company's future operational results as well as development, redevelopment and expansion activities. Stockholders are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company to vary materially from those anticipated, expected or projected. Such factors include, among others, general industry, economic and business conditions, which will, among other things, affect demand for retail space or retail goods, availability and creditworthiness of current and prospective tenants, anchor or tenant bankruptcies, closures, mergers or consolidations, lease rates, terms and payments, interest rate fluctuations, availability, terms and cost of financing, operating expenses, and competition; adverse changes in the real estate markets, including the liquidity of real estate investments; and risks of real estate development, redevelopment, and expansion, including availability, terms and cost of financing, construction delays, environmental and safety requirements, budget overruns, sunk costs and lease-up; the inability to obtain, or delays in obtaining, all necessary zoning, land-use, building, and occupancy and other required governmental permits and authorizations; and governmental actions and initiatives (including legislative and regulatory changes) as well as terrorist activities or other acts of violence which could adversely affect all of the above factors. Furthermore, occupancy rates and rents at a newly completed property may not be sufficient to make the property profitable. The reader is directed to the Company's various filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended December 31, 2012, for a discussion of such risks and uncertainties, which discussion is incorporated herein by reference. The Company does not intend, and undertakes no obligation, to update any forward-looking information to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events unless required by law to do so.

The Macerich Company

Supplemental Financial and Operating Information (unaudited)

Capital Information and Market Capitalization

	Period Ended


	6/30/2013			12/31/2012			12/31/2011
	dollars in thousands, except per share data
Closing common stock price per share	$	60.97		$	58.30		$	50.60
52 week high	$	72.19		$	62.83		$	56.50
52 week low	$	54.32		$	49.67		$	38.64
Shares outstanding at end of period
Class A non-participating convertible preferred units		184,304			184,304			208,640
Common shares and partnership units		150,330,513			147,601,848			143,178,521

Total common and equivalent shares/units outstanding		150,514,817			147,786,152			143,387,161

Portfolio capitalization data
Total portfolio debt, including joint ventures at pro rata	$	6,482,768		$	6,620,507		$	5,903,805
Equity market capitalization		9,176,888			8,615,933			7,255,390

Total market capitalization	$	15,659,656		$	15,236,440		$	13,159,195

Leverage ratio(a)		41.4	%		43.5	%		44.9	%

(a): Debt as a percentage of market capitalization.

Portfolio Capitalization at June 30, 2013

The Macerich Company

Supplemental Financial and Operating Information (unaudited)

Changes in Total Common and Equivalent Shares/Units



	Partnership Units			Company Common Shares		Class A Non-Participating Convertible Preferred Units		Total Common and Equivalent Shares/ Units
Balance as of December 31, 2012		10,094,838			137,507,010		184,304		147,786,152

Conversion of partnership units to cash		(16,662	)		—		—		(16,662	)
Conversion of partnership units to common shares		(61,372	)		61,372		—		—
Issuance of stock/partnership units from restricted stock issuance or other share- or unit-based plans		200,000			60,021		—		260,021

Balance as of March 31, 2013		10,216,804			137,628,403		184,304		148,029,511

Conversion of partnership units to common shares		(595,493	)		595,493		—		—
Issuance of stock/partnership units from restricted stock issuance or other share- or unit-based plans		—			28,350		—		28,350
Common stock issued through ATM(a)		—			2,456,956		—		2,456,956

Balance as of June 30, 2013		9,621,311			140,709,202		184,304		150,514,817

(a): During the second quarter of 2013, the Company issued 2,456,956 shares of common stock under its at-the-market ("ATM") program, in exchange for net proceeds of approximately $171.3 million.

On the following pages, the Company presents its unaudited pro rata statement of operations and unaudited pro rata balance sheet reflecting the Company's proportionate ownership of each asset in its portfolio. The Company also reconciles net income attributable to the Company to funds from operations ("FFO") and FFO-diluted for the three and six months ended June 30, 2013.

THE MACERICH COMPANY

UNAUDITED PRO RATA STATEMENT OF OPERATIONS

(Dollars in thousands)



	For the Three Months Ended June 30, 2013
	Consolidated			Non- Controlling Interests(1)			Company's Consolidated Share			Company's Share of Joint Ventures(2)			Company's Total Share
Revenues:
Minimum rents	$	146,992		$	(8,636	)	$	138,356		$	53,815		$	192,171
Percentage rents		2,822			(130	)		2,692			1,824			4,516
Tenant recoveries		85,364			(4,861	)		80,503			26,807			107,310
Management Companies' revenues		10,301			—			10,301			—			10,301
Other income		11,498			(644	)		10,854			5,809			16,663

Total revenues		256,977			(14,271	)		242,706			88,255			330,961

Expenses:
Shopping center and operating expenses		82,506			(4,760	)		77,746			29,297			107,043
Management Companies' operating expenses		22,816			—			22,816			—			22,816
REIT general and administrative expenses		6,693			—			6,693			—			6,693
Depreciation and amortization		92,333			(4,603	)		87,730			22,815			110,545
Interest expense		54,439			(2,844	)		51,595			16,977			68,572
Gain on extinguishment of debt, net		(1,943	)		—			(1,943	)		—			(1,943	)

Total expenses		256,844			(12,207	)		244,637			69,089			313,726
Equity in income of unconsolidated joint ventures		92,201			—			92,201			(92,201	)		—
Co-venture expense		(2,138	)		2,138			—			—			—
Income tax benefit		1,477			—			1,477			—			1,477
(Loss) gain on remeasurement, sale or write down of assets, net		(798	)		9			(789	)		73,035			72,246

Income from continuing operations		90,875			83			90,958			—			90,958

Discontinued operations:
Gain on sale or write down of assets, net		141,906			—			141,906			—			141,906
Income from discontinued operations		2,035			—			2,035			—			2,035

Total income from discontinued operations		143,941			—			143,941			—			143,941

Net income		234,816			83			234,899			—			234,899
Less net income attributable to noncontrolling interests		15,819			83			15,902			—			15,902

Net income attributable to the Company	$	218,997		$	—		$	218,997		$	—		$	218,997

Reconciliation of net income attributable to the Company to FFO(3):
Net income attributable to the Company							$	218,997		$	—		$	218,997
Equity in income of unconsolidated joint ventures								(92,201	)		92,201			—
Adjustments to reconcile net income to FFO—basic and diluted:
Noncontrolling interests in the Operating Partnership								15,902			—			15,902
Gain on remeasurement, sale or write down of assets, net								(141,117	)		(73,035	)		(214,152	)
(Loss) gain on sale of undepreciated assets, net								(10	)		486			476
Depreciation and amortization of all property								89,381			22,815			112,196
Depreciation on personal property								(2,777	)		(237	)		(3,014	)

Total FFO—Basic and diluted							$	88,175		$	42,230		$	130,405

THE MACERICH COMPANY

UNAUDITED PRO RATA STATEMENT OF OPERATIONS

(Dollars in thousands)



	For the Six Months Ended June 30, 2013
	Consolidated			Non- Controlling Interests(1)			Company's Consolidated Share			Company's Share of Joint Ventures(2)			Company's Total Share
Revenues:
Minimum rents	$	290,707		$	(16,379	)	$	274,328		$	108,869		$	383,197
Percentage rents		7,191			(308	)		6,883			3,235			10,118
Tenant recoveries		167,827			(9,471	)		158,356			53,227			211,583
Management Companies' revenues		20,451			—			20,451			—			20,451
Other income		25,001			(1,129	)		23,872			11,730			35,602

Total revenues		511,177			(27,287	)		483,890			177,061			660,951

Expenses:
Shopping center and operating expenses		165,106			(8,518	)		156,588			59,765			216,353
Management Companies' operating expenses		45,965			—			45,965			—			45,965
REIT general and administrative expenses		12,717			—			12,717			—			12,717
Depreciation and amortization		183,136			(9,137	)		173,999			44,147			218,146
Interest expense		108,139			(5,604	)		102,535			35,849			138,384
Gain on extinguishment of debt, net		(1,943	)		—			(1,943	)		—			(1,943	)

Total expenses		513,120			(23,259	)		489,861			139,761			629,622
Equity in income of unconsolidated joint ventures		110,316			—			110,316			(110,316	)		—
Co-venture expense		(4,179	)		4,179			—			—			—
Income tax benefit		1,721			—			1,721			—			1,721
Gain on remeasurement, sale or write down of assets, net		4,030			(3,163	)		867			73,016			73,883

Income from continuing operations		109,945			(3,012	)		106,933			—			106,933

Discontinued operations:
Gain on sale or write down of assets, net		141,912			—			141,912			—			141,912
Income from discontinued operations		5,488			—			5,488			—			5,488

Total income from discontinued operations		147,400			—			147,400			—			147,400

Net income		257,345			(3,012	)		254,333			—			254,333
Less net income attributable to noncontrolling interests		20,256			(3,012	)		17,244			—			17,244

Net income attributable to the Company	$	237,089		$	—		$	237,089		$	—		$	237,089

Reconciliation of net income attributable to the Company to FFO(3):
Net income attributable to the Company							$	237,089		$	—		$	237,089
Equity in income of unconsolidated joint ventures								(110,316	)		110,316			—
Adjustments to reconcile net income to FFO—basic and diluted:
Noncontrolling interests in the Operating Partnership								17,244			—			17,244
Gain on remeasurement, sale or write down of assets, net								(142,779	)		(73,016	)		(215,795	)
Gain on sale of undepreciated assets, net								2,238			484			2,722
Depreciation and amortization of all property								178,006			44,147			222,153
Depreciation on personal property								(5,544	)		(490	)		(6,034	)

Total FFO—Basic and diluted							$	175,938		$	81,441		$	257,379

The Macerich Company

Notes to Unaudited Pro Rata Statement of Operations

(1): This represents the non-owned portion of consolidated joint ventures.
(2): This represents the Company's pro rata share of unconsolidated joint ventures.
(3): The Company uses FFO in addition to net income to report its operating and financial results and considers FFO and FFO-diluted as supplemental measures for the real estate industry and a supplement to Generally Accepted Accounting Principles ("GAAP") measures. The National Association of Real Estate Investment Trusts ("NAREIT") defines FFO as net income (loss) (computed in accordance with GAAP), excluding gains (or losses) from extraordinary items and sales of depreciated operating properties, plus real estate related depreciation and amortization, impairment write-downs of real estate and write-downs of investments in an affiliate where the write-downs have been driven by a decrease in the value of real estate held by the affiliate and after adjustments for unconsolidated joint ventures. Adjustments for unconsolidated joint ventures are calculated to reflect FFO on the same basis.

Management compensates for the limitations of FFO by providing investors with financial statements prepared according to GAAP, along with a detailed discussion of FFO and a reconciliation of FFO and FFO-diluted to net income attributable to the Company. Management believes that to further understand the Company's performance, FFO should be compared with the Company's reported net income and considered in addition to cash flows in accordance with GAAP, as presented in the Company's consolidated financial statements.

THE MACERICH COMPANY

UNAUDITED PRO RATA BALANCE SHEET

(All Dollars in thousands)



	As of June 30, 2013
	Consolidated			Non- Controlling Interests(1)			Company's Consolidated Share			Company's Share of Joint Ventures(2)			Company's Total Share
ASSETS:
Property, net(3)	$	7,778,785		$	(476,311	)	$	7,302,474		$	2,255,100		$	9,557,574
Cash and cash equivalents		46,943			(8,590	)		38,353			60,098			98,451
Restricted cash		72,260			(1,598	)		70,662			11,170			81,832
Marketable securities		23,062			—			23,062			—			23,062
Tenant and other receivables, net		96,388			(28,592	)		67,796			33,603			101,399
Deferred charges and other assets, net		549,229			(9,788	)		539,441			66,955			606,396
Loans to unconsolidated joint ventures		2,749			—			2,749			—			2,749
Due from affiliates		30,747			276			31,023			(2,322	)		28,701
Investments in unconsolidated joint ventures		949,726			—			949,726			(949,726	)		—

Total assets	$	9,549,889		$	(524,603	)	$	9,025,286		$	1,474,878		$	10,500,164

LIABILITIES AND EQUITY:
Mortgage notes payable:	$	4,624,213		$	(290,691	)	$	4,333,522		$	1,589,022		$	5,922,544
Bank and other notes payable		566,854			(6,630	)		560,224			—			560,224
Accounts payable and accrued expenses		71,641			(2,704	)		68,937			28,407			97,344
Other accrued liabilities		320,201			(23,067	)		297,134			59,983			357,117
Distributions in excess of investment in unconsolidated joint ventures		202,534			—			202,534			(202,534	)		—
Co-venture obligation		86,677			(86,677	)		—			—			—

Total liabilities		5,872,120			(409,769	)		5,462,351			1,474,878			6,937,229

Commitments and contingencies
Equity:
Stockholders' equity:
Common stock		1,407			—			1,407			—			1,407
Additional paid-in capital		3,896,495			—			3,896,495			—			3,896,495
Accumulated deficit		(562,995	)		—			(562,995	)		—			(562,995	)

Total stockholders' equity		3,334,907			—			3,334,907			—			3,334,907
Noncontrolling interests		342,862			(114,834	)		228,028			—			228,028

Total equity		3,677,769			(114,834	)		3,562,935			—			3,562,935

Total liabilities and equity	$	9,549,889		$	(524,603	)	$	9,025,286		$	1,474,878		$	10,500,164

(1): This represents the non-owned portion of the consolidated joint ventures.
(2): This represents the Company's pro rata share of unconsolidated joint ventures.
(3): Includes construction in progress of $366,536 from the Company's consolidated share and $146,366 from its pro rata share of unconsolidated joint ventures.

The Macerich Company

Supplemental Financial and Operating Information (unaudited)

Supplemental FFO Information(a)



	As of June 30,
	2013	2012
	dollars in millions
Straight line rent receivable	$68.7	$70.2



	For the Three Months Ended June 30,		For the Six Months Ended June 30,
	2013	2012	2013	2012
	dollars in millions
Lease termination fees	$0.7	$1.2	$2.1	$	4.1
Straight line rental income	$2.2	$2.1	$3.4	$	3.2
Gain on sales of undepreciated assets	$0.5	$—	$2.7	$	—
Amortization of acquired above- and below-market leases	$1.9	$2.1	$4.3	$	5.6
Amortization of debt (discounts)/premiums	$2.1	$0.4	$4.6	$	(0.7	)
Interest capitalized	$4.8	$3.6	$9.6	$	7.5

(a): All joint venture amounts included at pro rata.

The Macerich Company

Supplemental Financial and Operating Information (unaudited)

Capital Expenditures



	For the Six Months Ended 6/30/13		For the Six Months Ended 6/30/12		Year Ended 12/31/12		Year Ended 12/31/11
	dollars in millions
Consolidated Centers
Acquisitions of property and equipment	$	534.5	$	76.9	$	1,313.1	$	314.6
Development, redevelopment, expansions and renovations of Centers		75.0		53.0		158.5		88.8
Tenant allowances		10.4		8.5		18.1		19.4
Deferred leasing charges		14.2		13.6		23.5		29.3

Total	$	634.1	$	152.0	$	1,513.2	$	452.1

Unconsolidated Joint Venture Centers(a)
Acquisitions of property and equipment	$	2.0	$	1.7	$	5.1	$	143.4
Development, redevelopment, expansions and renovations of Centers		45.5		46.5		79.6		37.7
Tenant allowances		4.2		2.5		6.4		8.4
Deferred leasing charges		1.8		2.6		4.2		4.9

Total	$	53.5	$	53.3	$	95.3	$	194.4

(a): All joint venture amounts at pro rata.

The Macerich Company

Supplemental Financial and Operating Information (unaudited)

Sales Per Square Foot(a)



	Consolidated Centers	Unconsolidated Joint Venture Centers	Total Centers
06/30/2013	$485	$663	$545
06/30/2012	$436	$623	$513
12/31/2012	$463	$629	$517
12/31/2011	$417	$597	$489
12/31/2010	$392	$468	$433
12/31/2009	$368	$440	$407

(a): Sales are based on reports by retailers leasing mall and freestanding stores for the trailing 12 months for tenants which have occupied such stores for a minimum of 12 months. Sales per square foot are based on tenants 10,000 square feet and under for regional shopping centers. Sales per square foot exclude Centers under development and redevelopment.

Sales Per Square Foot

The Macerich Company

Sales Per Square Foot by Property Ranking (Unaudited)

																									Outstanding Debt @ Pro Rata ($ in thousands) 06/30/2013 (d)

				Sales Per Square Foot															Cost of Occupancy for the Trailing 12 Months Ended 06/30/2013 (b)
				Sales Per Square Foot						Occupancy												% of Portfolio 2013 Forecast Pro Rata NOI (c)
				06/30/2013 (a)		12/31/2012 (a)		06/30/2012 (a)		Occupancy
Count		Properties		06/30/2013 (a)		12/31/2012 (a)		06/30/2012 (a)		06/30/2013			12/31/2012			06/30/2012

		Group 1: Top 10
	1		Queens Center	$	1,043	$	1,004	$	965		97.3	%		97.3	%		97.2	%							$	306,000
	2		Washington Square	$	956	$	909	$	821		90.4	%		93.3	%		90.6	%							$	119,819
	3		Biltmore Fashion Park	$	921	$	903	$	917		88.3	%		87.6	%		80.7	%							$	29,120
	4		Corte Madera, Village at	$	886	$	882	$	936		97.4	%		98.3	%		98.3	%							$	38,536
	5		Tysons Corner Center	$	828	$	820	$	798		98.0	%		97.5	%		97.0	%							$	149,767
	6		North Bridge, The Shops at	$	918	$	805	$	830		90.9	%		90.1	%		85.0	%							$	98,257
	7		Santa Monica Place	$	746	$	723	$	720		90.4	%		94.3	%		90.9	%							$	237,929
	8		Los Cerritos Center	$	682	$	682	$	683		94.8	%		97.2	%		97.5	%							$	98,904
	9		Kings Plaza Shopping Center(e)	$	680	$	680		n/a		95.8	%		95.5	%		n/a								$	495,292
	10		Tucson La Encantada	$	690	$	673	$	663		91.9	%		90.3	%		91.2	%							$	73,535

		Total Top 10:		$	835	$	813	$	807		94.4	%		95.0	%		93.3	%		13.5	%		24.7	%	$	1,647,159

		Group 2: Top 11-20
	11		Broadway Plaza	$	678	$	657	$	651		93.6	%		97.6	%		99.0	%							$	70,082
	12		Kierland Commons	$	637	$	641	$	662		97.1	%		95.1	%		93.8	%							$	67,500
	13		Arrowhead Towne Center	$	653	$	635	$	638		94.7	%		98.1	%		96.9	%							$	239,624
	14		Fresno Fashion Fair	$	626	$	630	$	617		96.5	%		97.0	%		95.7	%							$	160,012
	15		Freehold Raceway Mall	$	619	$	623	$	628		98.8	%		95.1	%		93.3	%							$	116,683
	16		Danbury Fair Mall	$	644	$	623	$	630		95.5	%		96.9	%		97.5	%							$	236,980
	17		Scottsdale Fashion Square	$	634	$	603	$	596		92.3	%		95.1	%		95.5	%							$	261,620
	18		Twenty Ninth Street	$	585	$	588	$	595		95.3	%		95.8	%		96.1	%							$	107,000
	19		Vintage Faire Mall	$	592	$	578	$	585		99.9	%		99.1	%		98.7	%							$	99,774
	20		Fashion Outlets of Chicago(f)		n/a		n/a		n/a		n/a			n/a			n/a								$	33,074

		Total Top 11-20:		$	628	$	616	$	619		96.0	%		96.3	%		95.8	%		12.7	%		23.7	%	$	1,392,349

The Macerich Company

Sales Per Square Foot by Property Ranking (Unaudited)

																									Outstanding Debt @ Pro Rata ($ in thousands) 06/30/2013 (d)

				Sales Per Square Foot															Cost of Occupancy for the Trailing 12 Months Ended 06/30/2013 (b)
				Sales Per Square Foot						Occupancy												% of Portfolio 2013 Forecast Pro Rata NOI (c)
				06/30/2013 (a)		12/31/2012 (a)		06/30/2012 (a)		Occupancy
Count		Properties		06/30/2013 (a)		12/31/2012 (a)		06/30/2012 (a)		06/30/2013			12/31/2012			06/30/2012
		Group 3: Top 21-30
	21		Fashion Outlets of Niagara Falls USA	$	573	$	571	$	541		94.7	%		94.5	%		96.3	%							$	125,309
	22		Chandler Fashion Center	$	576	$	564	$	557		95.8	%		96.7	%		94.7	%							$	100,200
	23		FlatIron Crossing	$	534	$	548	$	505		96.2	%		89.4	%		86.4	%							$	—
	24		Green Acres Mall(g)	$	546	$	535		n/a		94.3	%		n/a			n/a								$	322,920
	25		West Acres	$	546	$	535	$	526		100.0	%		97.1	%		98.8	%							$	11,508
	26		Oaks, The	$	507	$	505	$	500		96.6	%		94.4	%		93.7	%							$	216,199
	27		Stonewood Center	$	504	$	500	$	478		97.2	%		99.4	%		99.2	%							$	54,853
	28		Deptford Mall	$	502	$	497	$	492		97.0	%		99.3	%		99.6	%							$	218,138
	29		Valley River Center	$	494	$	496	$	494		95.7	%		95.6	%		93.8	%							$	120,000
	30		SanTan Village Regional Center	$	492	$	477	$	469		96.5	%		96.4	%		95.8	%							$	117,148

		Total Top 21-30:		$	530	$	525	$	510		96.1	%		95.2	%		94.4	%		12.9	%		21.0	%	$	1,286,275

		Group 4: Top 31-40
	31		South Plains Mall	$	469	$	469	$	451		87.9	%		90.2	%		90.3	%							$	100,587
	32		Victor Valley, Mall of	$	484	$	460	$	452		96.9	%		93.7	%		93.8	%							$	90,000
	33		Pacific View	$	412	$	419	$	417		97.9	%		96.9	%		95.8	%							$	137,114
	34		Lakewood Center	$	424	$	412	$	410		96.2	%		93.7	%		93.1	%							$	127,500
	35		Eastland Mall	$	411	$	401	$	412		95.6	%		99.5	%		97.7	%							$	168,000
	36		Inland Center	$	409	$	399	$	389		97.8	%		94.3	%		92.7	%							$	25,000
	37		La Cumbre Plaza	$	401	$	391	$	379		83.7	%		79.7	%		80.0	%							$	—
	38		Northgate Mall	$	395	$	387	$	400		97.9	%		95.9	%		95.2	%							$	64,000
	39		South Towne Center	$	365	$	374	$	372		87.6	%		88.7	%		88.1	%							$	—
	40		Westside Pavilion	$	363	$	362	$	377		94.7	%		95.8	%		97.6	%							$	153,395

		Total Top 31-40:		$	413	$	408	$	406		93.9	%		93.5	%		93.0	%		14.5	%		14.9	%	$	865,596

		Total Top 40:		$	603	$	593	$	583		95.2	%		95.1	%		94.2	%		13.3	%		84.3	%	$	5,191,379

The Macerich Company

Sales Per Square Foot by Property Ranking (Unaudited)

																									Outstanding Debt @ Pro Rata ($ in thousands) 06/30/2013 (d)

				Sales Per Square Foot															Cost of Occupancy for the Trailing 12 Months Ended 06/30/2013 (b)
				Sales Per Square Foot						Occupancy												% of Portfolio 2013 Forecast Pro Rata NOI (c)
				06/30/2013 (a)		12/31/2012 (a)		06/30/2012 (a)		Occupancy
Count		Properties		06/30/2013 (a)		12/31/2012 (a)		06/30/2012 (a)		06/30/2013			12/31/2012			06/30/2012

		Group 5: 41-58
	41		Chesterfield Towne Center	$	363	$	361	$	358		88.5	%		91.9	%		92.9	%							$	110,000
	42		Superstition Springs Center(h)	$	348	$	334	$	326		96.6	%		92.3	%		90.3	%							$	45,000
	43		Ridgmar Mall	$	333	$	332	$	326		84.3	%		84.6	%		86.5	%							$	25,927
	44		Capitola Mall	$	329	$	327	$	323		85.4	%		84.8	%		82.8	%							$	—
	45		Towne Mall	$	343	$	320	$	323		85.8	%		88.4	%		88.2	%							$	23,183
	46		Wilton Mall	$	306	$	313	$	319		90.5	%		95.7	%		95.6	%							$	40,000
	47		Salisbury, Centre at	$	322	$	311	$	318		93.3	%		96.3	%		94.6	%							$	115,000
	48		NorthPark Mall	$	307	$	310	$	305		93.2	%		89.0	%		88.4	%							$	—
	49		Cascade Mall	$	304	$	299	$	290		91.1	%		92.8	%		84.5	%							$	—
	50		Flagstaff Mall	$	309	$	296	$	282		81.5	%		89.7	%		92.0	%							$	37,000
	51		Somersville Towne Center	$	275	$	287	$	281		87.1	%		84.7	%		85.1	%							$	—
	52		Valley Mall	$	284	$	266	$	260		93.9	%		94.0	%		94.4	%							$	42,525
	53		Desert Sky Mall	$	263	$	263	$	278		93.8	%		96.2	%		94.3	%							$	—
	54		Great Northern Mall	$	256	$	263	$	266		95.1	%		93.3	%		97.0	%							$	35,944
	55		SouthPark Mall	$	248	$	248	$	247		79.3	%		86.9	%		82.5	%							$	—
	56		Lake Square Mall	$	252	$	232	$	230		80.0	%		86.4	%		72.4	%							$	—
	57		Rotterdam Square	$	230	$	232	$	233		81.0	%		86.1	%		85.8	%							$	—
	58		Paradise Valley Mall(i)		n/a	$	287	$	297		n/a			88.2	%		84.5	%							$	79,500
	—		Fiesta Mall(j)		n/a	$	235	$	238		n/a			86.1	%		83.9	%							$	84,000

		Total 41-58:		$	304	$	295	$	294		89.0	%		90.3	%		88.8	%		12.0	%		12.2	%	$	638,079

The Macerich Company

Sales Per Square Foot by Property Ranking (Unaudited)

																							Outstanding Debt @ Pro Rata ($ in thousands) 06/30/2013 (d)

				Sales Per Square Foot															Cost of Occupancy for the Trailing 12 Months Ended 06/30/2013 (b)
				Sales Per Square Foot						Occupancy										% of Portfolio 2013 Forecast Pro Rata NOI (c)
				06/30/2013 (a)		12/31/2012 (a)		06/30/2012 (a)		Occupancy
Count		Properties		06/30/2013 (a)		12/31/2012 (a)		06/30/2012 (a)		06/30/2013			12/31/2012			06/30/2012

		Community / Power Centers
	1		Atlas Park, The Shops at(i)		n/a		n/a		n/a		n/a			n/a			n/a						$	—
	2		Boulevard Shops	$	430	$	429	$	423		100.0	%		99.2	%		99.2	%					$	10,226
	3		Camelback Colonnade	$	373	$	351	$	351		97.2	%		97.7	%		97.6	%					$	34,423
	4		Estrella Falls, The Market at		n/a		n/a		n/a		95.5	%		95.5	%		96.1	%					$	13,310
	5		Panorama Mall	$	375	$	349	$	320		97.9	%		92.8	%		94.1	%					$	—
	6		Promenade at Casa Grande	$	190	$	193	$	200		94.4	%		95.9	%		96.3	%					$	33,457
	7		Redmond Town Center(k)	$	383	$	361	$	347		86.4	%		89.2	%		80.3	%					$	—
	8		Southridge Center(i)		n/a		n/a		n/a		n/a			n/a			n/a						$	—
	9		Superstition Springs Power Center(h)	$	223		n/a		n/a		100.0	%		n/a			n/a						$	—
	10		The Marketplace at Flagstaff Mall		n/a		n/a		n/a		100.0	%		100.0	%		100.0	%					$	—

		Total Community / Power Centers:		$	345	$	335	$	327		94.3	%		94.9	%		92.9	%			3.1	%	$	91,416

		Other Non-mall Assets																			0.4	%	$	1,670

		TOTAL ALL PROPERTIES																			100.0	%	$	5,922,544

The Macerich Company

Notes to Sales Per Square Foot by Property Ranking (unaudited)


Footnotes
(a)		Sales are based on reports by retailers leasing mall and freestanding stores for the trailing 12 months for tenants which have occupied such stores for a minimum of 12 months. Sales per square foot are based on tenants 10,000 square feet and under.
(b)		Cost of Occupancy represents "Tenant Occupancy Costs" divided by "Tenant Sales". Tenant Occupancy Costs in this calculation are the amounts paid to the Company, including minimum rents, percentage rents and recoverable expenditures, which consist primarily of property operating expenses, real estate taxes and repair and maintenance expenditures.
(c)		The percent of portfolio 2013 Forecast Pro Rata Net Operating Income ("NOI") is based on guidance previously published adjusted to exclude the 2013 Disposition Centers and Fiesta Mall, and to annualize the NOI of Fashion Outlets of Chicago. NOI excludes the following items: straight-line rent, above/below market adjustments to minimum rents, termination fee income and bad debt expense. It does not reflect REIT expenses, net Management Company expenses and the effect of any future 2013 acquisitions or dispositions. See the Company's forward-looking statements disclosure on page 1 for factors that may affect the information provided in this column.
(d)		Please see further disclosures for Outstanding Debt at pro rata on pages 28-29.
(e)		The Company acquired Kings Plaza Shopping Center in November 2012.
(f)		Fashion Outlets of Chicago opened August 1, 2013 and is included in "Group 2: Top 11 - 20" above based on our expectations for Sales per square foot at this property. Annualized 2013 Forecast Pro Rata NOI for Fashion Outlets of Chicago is included in Group 2 above. See the Company's forward-looking statements disclosure on page 1 for factors that may affect this information.
(g)		The Company acquired Green Acres Mall in January 2013.
(h)		Superstition Springs Power Center was combined with Superstition Springs Center in prior periods, but is shown separately as a "Community / Power Center" at June 30, 2013.
(i)		Tenant spaces have been intentionally held off the market and remain vacant because of redevelopment plans. As a result, the Company believes the Sales per square foot and Occupancy at these redevelopment properties is not meaningful data.
(j)		The Company is negotiating with the loan servicer for Fiesta Mall, which will likely result in a transition of the asset to the loan servicer or receiver.
(k)		The Company's joint venture in Redmond Town Center sold this center on August 1, 2013.

The Macerich Company

Supplemental Financial and Operating Information (unaudited)

Occupancy(a)



Regional Shopping Centers: Period Ended	Consolidated Centers		Unconsolidated Joint Venture Centers		Total Centers
06/30/2013		93.4%		94.7%		93.8%
06/30/2012		92.7%		92.9%		92.7%
12/31/2012		93.4%		94.5%		93.8%
12/31/2011		92.8%		92.4%		92.7%

(a): Occupancy is the percentage of mall and freestanding GLA leased as of the last day of the reporting period. Occupancy excludes Centers under development and redevelopment.

The Macerich Company

Supplemental Financial and Operating Information (unaudited)

Average Base Rent Per Square Foot(a)



	Average Base Rent PSF(b)		Average Base Rent PSF on Leases Executed during the trailing twelve months ended(c)		Average Base Rent PSF on Leases Expiring(d)
Consolidated Centers
06/30/2013	$	43.26	$	45.45	$	40.16
06/30/2012	$	39.23	$	42.23	$	36.38
12/31/2012	$	40.98	$	44.01	$	38.00
12/31/2011	$	38.80	$	38.35	$	35.84
Unconsolidated Joint Venture Centers
06/30/2013	$	57.58	$	59.15	$	50.84
06/30/2012	$	55.11	$	53.95	$	46.12
12/31/2012	$	55.64	$	55.72	$	48.74
12/31/2011	$	53.72	$	50.00	$	38.98

(a): Average base rent per square foot is based on spaces 10,000 square feet and under. Centers under development and redevelopment are excluded.
(b): Average base rent per square foot gives effect to the terms of each lease in effect, as of the applicable date, including any concessions, abatements and other adjustments or allowances that have been granted to the tenants.
(c): The average base rent per square foot on leases executed during the period represents the actual rent to be paid during the first twelve months.
(d): The average base rent per square foot on leases expiring during the period represents the final year minimum rent on a cash basis.

The Macerich Company

Supplemental Financial and Operating Information (unaudited)

Cost of Occupancy



				For Years Ended December 31,
	For the trailing twelve months ended June 30, 2013			For Years Ended December 31,
	For the trailing twelve months ended June 30, 2013			2012			2011
Consolidated Centers
Minimum rents		8.2	%		8.1	%		8.2	%
Percentage rents		0.4	%		0.4	%		0.5	%
Expense recoveries(a)		4.4	%		4.2	%		4.1	%

Total		13.0	%		12.7	%		12.8	%



				For Years Ended December 31,
	For the trailing twelve months ended June 30, 2013			For Years Ended December 31,
	For the trailing twelve months ended June 30, 2013			2012			2011
Unconsolidated Joint Venture Centers
Minimum rents		8.8	%		8.9	%		9.1	%
Percentage rents		0.4	%		0.4	%		0.4	%
Expense recoveries(a)		3.9	%		3.9	%		3.9	%

Total		13.1	%		13.2	%		13.4	%

(a): Represents real estate tax and common area maintenance charges.

The Macerich Company

Percentage of Net Operating Income by State



State	% of Portfolio Forecast 2013 Pro Rata NOI(a)
California		27.3	%
Arizona		17.7	%
New York		15.3	%
New Jersey & Connecticut		8.9	%
Illinois, Indiana & Iowa		7.5	%
Virginia		7.0	%
Colorado		5.1	%
Oregon		3.6	%
Texas		2.6	%
Other(b)		5.0	%

Total		100.0	%

(a): The percentage of portfolio 2013 Forecast Pro Rata NOI is based on guidance previously published adjusted to exclude the 2013 Disposition Centers and Fiesta Mall, and to annualize the NOI of Fashion Outlets of Chicago. NOI excludes the following items: straight-line rent, above/below market adjustments to minimum rents, termination fee income and bad debt expense. NOI also does not reflect REIT expenses, net Management Company expenses and the effect of any future 2013 acquisitions or dispositions. See the Company's forward-looking statements disclosure on page 1 for factors that may affect the information provided in this column.
(b): "Other" includes Florida, Kentucky, Maryland, New Mexico, North Dakota, Utah and Washington.

The Macerich Company

Property Listing

June 30, 2013

The following table sets forth certain information regarding the Centers and other locations that are wholly owned or partly owned by the Company.

Company's Ownership(a)	Name of Center/Location

CONSOLIDATED CENTERS:
100%	Arrowhead Towne Center Glendale, Arizona	1993/2002	2004	1,196,000
100%	Capitola Mall(c) Capitola, California	1977/1995	1988	586,000
50.1%	Chandler Fashion Center Chandler, Arizona	2001/2002	—	1,326,000
100%	Chesterfield Towne Center Richmond, Virginia	1975/1994	2000	1,016,000
100%	Danbury Fair Mall Danbury, Connecticut	1986/2005	2010	1,288,000
100%	Deptford Mall Deptford, New Jersey	1975/2006	1990	1,039,000
100%	Desert Sky Mall Phoenix, Arizona	1981/2002	2007	890,000
100%	Eastland Mall(c) Evansville, Indiana	1978/1998	1996	1,041,000
100%	Fashion Outlets of Niagara Falls USA Niagara Falls, New York	1982/2011	2009	530,000
100%	Flagstaff Mall Flagstaff, Arizona	1979/2002	2007	347,000
100%	FlatIron Crossing Broomfield, Colorado	2000/2002	2009	1,425,000
50.1%	Freehold Raceway Mall Freehold, New Jersey	1990/2005	2007	1,675,000
100%	Fresno Fashion Fair Fresno, California	1970/1996	2006	962,000
100%	Great Northern Mall Clay, New York	1988/2005	—	895,000
100%	Green Acres Mall(c) Valley Stream, New York	1956/2013	2007	1,784,000
100%	Kings Plaza Shopping Center(c) Brooklyn, New York	1971/2012	2002	1,199,000
100%	La Cumbre Plaza(c) Santa Barbara, California	1967/2004	1989	494,000
100%	Lake Square Mall Leesburg, Florida	1980/1998	1995	559,000
100%	Northgate Mall San Rafael, California	1964/1986	2010	721,000
100%	NorthPark Mall Davenport, Iowa	1973/1998	2001	1,050,000
100%	Oaks, The Thousand Oaks, California	1978/2002	2009	1,137,000
100%	Pacific View Ventura, California	1965/1996	2001	1,017,000
100%	Rotterdam Square Schenectady, New York	1980/2005	1990	585,000

The Macerich Company

Property Listing

June 30, 2013

Company's Ownership(a)	Name of Center/Location

100%	Salisbury, Centre at Salisbury, Maryland	1990/1995	2005	862,000
100%	Santa Monica Place Santa Monica, California	1980/1999	2010	474,000
84.9%	SanTan Village Regional Center Gilbert, Arizona	2007/—	2009	999,000
100%	Somersville Towne Center Antioch, California	1966/1986	2004	349,000
100%	SouthPark Mall Moline, Illinois	1974/1998	1990	1,010,000
100%	South Plains Mall Lubbock, Texas	1972/1998	1995	1,130,000
100%	South Towne Center Sandy, Utah	1987/1997	1997	1,276,000
100%	Towne Mall Elizabethtown, Kentucky	1985/2005	1989	350,000
100%	Tucson La Encantada Tucson, Arizona	2002/2002	2005	243,000
100%	Twenty Ninth Street(c) Boulder, Colorado	1963/1979	2007	853,000
100%	Valley Mall Harrisonburg, Virginia	1978/1998	1992	504,000
100%	Valley River Center Eugene, Oregon	1969/2006	2007	896,000
100%	Victor Valley, Mall of Victorville, California	1986/2004	2012	576,000
100%	Vintage Faire Mall Modesto, California	1977/1996	2008	1,126,000
100%	Westside Pavilion Los Angeles, California	1985/1998	2007	755,000
100%	Wilton Mall Saratoga Springs, New York	1990/2005	1998	730,000

	Total Consolidated Centers			34,895,000

UNCONSOLIDATED JOINT VENTURE CENTERS (VARIOUS PARTNERS):
50%	Biltmore Fashion Park Phoenix, Arizona	1963/2003	2006	529,000
50%	Broadway Plaza(c) Walnut Creek, California	1951/1985	1994	777,000
51%	Cascade Mall Burlington, Washington	1989/1999	1998	594,000
50.1%	Corte Madera, Village at Corte Madera, California	1985/1998	2005	440,000
50%	Inland Center(c) San Bernardino, California	1966/2004	2004	933,000
50%	Kierland Commons Scottsdale, Arizona	1999/2005	2003	434,000
51%	Lakewood Center Lakewood, California	1953/1975	2008	2,065,000
51%	Los Cerritos Center Cerritos, California	1971/1999	2010	1,305,000

The Macerich Company

Property Listing

June 30, 2013

Company's Ownership(a)	Name of Center/Location

50%	North Bridge, The Shops at(c) Chicago, Illinois	1998/2008	—	679,000
51%	Queens Center(c) Queens, New York	1973/1995	2004	969,000
50%	Ridgmar Mall Fort Worth, Texas	1976/2005	2000	1,273,000
50%	Scottsdale Fashion Square Scottsdale, Arizona	1961/2002	2009	1,724,000
51%	Stonewood Center(c) Downey, California	1953/1997	1991	928,000
66.7%	Superstition Springs Center(c) Mesa, Arizona	1990/2002	2002	1,000,000
50%	Tysons Corner Center(c) McLean, Virginia	1968/2005	2005	1,961,000
51%	Washington Square Portland, Oregon	1974/1999	2005	1,451,000
19%	West Acres Fargo, North Dakota	1972/1986	2001	965,000

	Total Unconsolidated Joint Venture Centers (Various Partners)			18,027,000

	Total Regional Shopping Centers			52,922,000

COMMUNITY / POWER CENTERS:
50%	Boulevard Shops(d) Chandler, Arizona	2001/2002	2004	185,000
73.2%	Camelback Colonnade(d) Phoenix, Arizona	1961/2002	1994	619,000
39.7%	Estrella Falls, The Market at(d) Goodyear, Arizona	2009/—	2009	238,000
100%	Panorama Mall(e) Panorama, California	1955/1979	2005	312,000
51.3%	Promenade at Casa Grande(e) Casa Grande, Arizona	2007/—	2009	908,000
51%	Redmond Town Center(c)(d)(f) Redmond, Washington	1997/1999	2004	695,000
100%	Superstition Springs Power Center(e) Mesa, Arizona	1990/2002	—	206,000
100%	The Marketplace at Flagstaff Mall(c)(e) Flagstaff, Arizona	2007/—	—	268,000

	Total Community / Power Centers			3,431,000

	Total before Centers under Redevelopment and Other Assets			56,353,000

The Macerich Company

Property Listing

June 30, 2013

Company's Ownership(a)	Name of Center/Location

CENTERS UNDER REDEVELOPMENT:
50%	Atlas Park, The Shops at(d) Queens, New York	2006/2011	—	379,000
60%	Fashion Outlets of Chicago(c)(e) Rosemont, Illinois	2013/—	—	526,000
100%	Paradise Valley Mall(e) Phoenix, Arizona	1979/2002	2009	1,146,000
100%	Southridge Center(e) Des Moines, Iowa	1975/1998	1998	753,000

	Total Centers under Redevelopment			2,804,000

OTHER ASSETS:
100%	Various(e)(g)			1,192,000
100%	500 North Michigan Avenue(e) Chicago, Illinois			327,000
100%	Paradise Village Ground Leases(e) Phoenix, Arizona			58,000
100%	Paradise Village Office Park II(e) Phoenix, Arizona			46,000
50%	Scottsdale Fashion Square-Office(d) Scottsdale, Arizona			123,000
50%	Tysons Corner Center-Office(c)(d) McLean, Virginia			172,000
30%	Wilshire Boulevard(d) Santa Monica, California			40,000

	Total Other Assets			1,958,000

	Grand Total at June 30, 2013			61,115,000

The Macerich Company

Property Listing

June 30, 2013

(a): The Company's ownership interest in this table reflects its legal ownership interest. See footnotes (1) and (2) on pages 26-27 regarding the legal versus economic ownership of joint venture entities.
(b): Includes GLA attributable to anchors (whether owned or non-owned) and mall and freestanding stores as of June 30, 2013.
(c): Portions of the land on which the Center is situated are subject to one or more long-term ground leases. With respect to 52 Centers, the underlying land controlled by the Company is owned in fee entirely by the Company, or, in the case of jointly-owned Centers, by the joint venture property partnership or limited liability company.
(d): Included in Unconsolidated Joint Venture Centers.
(e): Included in Consolidated Centers.
(f): The Company's joint venture in Redmond Town Center sold this center on August 1, 2013.
(g): The Company owns a portfolio of 17 stores located at shopping centers not owned by the Company. Of these 17 stores, four have been leased to Forever 21, one has been leased to Kohl's, one has been leased to Burlington Coat Factory, one has been leased to Cabela's, seven have been leased for non-Anchor usage and the remaining three locations are vacant. The Company is currently seeking replacement tenants for these vacant sites. With respect to twelve of the 17 stores, the underlying land is owned in fee entirely by the Company. With respect to the remaining five stores, the underlying land is owned by third parties and leased to the Company pursuant to long-term building or ground leases.

Joint Venture List

The following table sets forth certain information regarding the Centers and other operating properties that are not wholly-owned by the Company. Fashion Outlets of Chicago has been included in the table since it began operations in 2013. This list of properties includes unconsolidated joint ventures, consolidated joint ventures, and co-venture arrangements. The percentages shown are the effective legal ownership and economic ownership interests of the Company as of June 30, 2013.



Properties	06/30/2013 Legal Ownership(1)			06/30/2013 Economic Ownership(2)			Joint Venture	06/30/2013 Total GLA(3)
Atlas Park, The Shops at		50	%		50	%	WMAP, L.L.C.		379,000
Biltmore Fashion Park		50	%		50	%	Biltmore Shopping Center Partners LLC		529,000
Boulevard Shops		50	%		50	%	Propcor II Associates, LLC		185,000
Broadway Plaza		50	%		50	%	Macerich Northwestern Associates		777,000
Camelback Colonnade		73.2	%		73.2	%	Camelback Colonnade Associates LP		619,000
Cascade Mall		51	%		51	%	Pacific Premier Retail LP		594,000
Chandler Fashion Center(4)		50.1	%		50.1	%	Freehold Chandler Holdings LP		1,326,000
Corte Madera, Village at		50.1	%		50.1	%	Corte Madera Village, LLC		440,000
Estrella Falls, The Market at(5)		39.7	%		39.7	%	The Market at Estrella Falls LLC		238,000
Fashion Outlets of Chicago(6)		60	%		60	%	Fashion Outlets of Chicago LLC		526,000
Freehold Raceway Mall(4)		50.1	%		50.1	%	Freehold Chandler Holdings LP		1,675,000
Inland Center		50	%		50	%	WM Inland LP		933,000
Kierland Commons		50	%		50	%	Kierland Commons Investment LLC		434,000
Lakewood Center		51	%		51	%	Pacific Premier Retail LP		2,065,000
Los Cerritos Center		51	%		51	%	Pacific Premier Retail LP		1,305,000
North Bridge, The Shops at		50	%		50	%	North Bridge Chicago LLC		679,000
Promenade at Casa Grande(5)		51.3	%		51.3	%	WP Casa Grande Retail LLC		908,000
Queens Center		51	%		51	%	Queens JV LP		969,000
Redmond Town Center(7)		51	%		51	%	Pacific Premier Retail LP		695,000
Ridgmar Mall		50	%		50	%	WM Ridgmar, L.P.		1,273,000
Santan Village Regional Center		84.9	%		84.9	%	Westcor SanTan Village LLC		999,000
Scottsdale Fashion Square		50	%		50	%	Scottsdale Fashion Square Partnership		1,724,000
Scottsdale Fashion Square-Office		50	%		50	%	Scottsdale Fashion Square Partnership		123,000
Stonewood Center		51	%		51	%	Pacific Premier Retail LP		928,000
Superstition Springs Center		66.7	%		66.7	%	East Mesa Mall, L.L.C.		1,000,000
Tysons Corner Center		50	%		50	%	Tysons Corner LLC		1,961,000
Tysons Corner Center-Office		50	%		50	%	Tysons Corner Property LLC		172,000
Washington Square		51	%		51	%	Pacific Premier Retail LP		1,451,000
West Acres		19	%		19	%	West Acres Development, LLP		965,000
Wilshire Boulevard		30	%		30	%	Wilshire Building—Tenants in Common		40,000

(1): This column reflects the Company's legal ownership in the listed properties as of June 30, 2013.
Legal ownership may, at times, not equal the Company's economic interest in the listed properties because of various provisions in certain joint venture agreements regarding distributions of cash flow based on capital account balances, allocations of profits and losses and payments of preferred returns. As a result, the Company's actual economic interest (as distinct from its legal ownership interest) in certain of the properties could fluctuate from time to time and may not wholly align with its legal ownership interests. Substantially all of the Company's joint venture agreements contain rights of first refusal, buy-sell provisions, exit rights, default dilution remedies and/or other break up provisions or remedies which are customary in real estate joint venture agreements and which may, positively or negatively, affect the ultimate realization of cash flow and/or capital or liquidation proceeds.
(2): Economic ownership represents the allocation of cash flow to the Company as of June 30, 2013, except as noted below. In cases where the Company receives a current cash distribution greater than its legal ownership percentage due to a capital account greater than its legal ownership percentage, only the legal ownership percentage is shown in this column. The Company's economic ownership of these properties may fluctuate based on a number of factors, including mortgage refinancings, partnership capital contributions and distributions, and proceeds and gains or losses from asset sales, and the matters set forth in the preceding paragraph.
(3): Includes GLA attributable to anchors (whether owned or non-owned) and mall and freestanding stores as of June 30, 2013.

(4): The joint venture entity was formed in September 2009. Upon liquidation of the partnership, distributions are made in the following order: to the third-party partner until it receives a 13% internal rate of return on its aggregate unreturned capital contributions; to the Company until it receives a 13% internal rate of return on its aggregate unreturned capital contributions; and, thereafter, 35% to the third-party partner and 65% to the Company.
(5): Columns 1 and 2 reflect the Company's indirect ownership interest in the property owner. The Company and a third-party partner are each members of a joint venture (the "MW Joint Venture") which, in turn, is a member in the joint venture that owns the property. Cash flow distributions for the MW Joint Venture are made in accordance with the members' relative capital accounts until the members have received distributions equal to their capital accounts, and thereafter in accordance with the members' relative legal ownership percentages. In addition, the Company has executed a joint and several guaranty of the mortgage for the property with its third-party partner. The Company may incur liabilities under such guaranty greater than its legal ownership percentage.
(6): Fashion Outlets of Chicago opened on August 1, 2013. After the third anniversary of substantial completion of the development, the Company in its sole discretion may elect to purchase the interest of the other member based on a net operating income formula using a 6.5% capitalization rate, less any unpaid debt on the property. In addition, the Company has executed a guaranty of the mortgage for the property. The Company may incur liabilities under such guaranty greater than its legal ownership percentage.
(7): The Company's joint venture in Redmond Town Center sold this center on August 1, 2013.

The Macerich Company

Supplemental Financial and Operating Information (unaudited)

Debt Summary (at Company's pro rata share)



	As of June 30, 2013
	Fixed Rate			Floating Rate			Total
	dollars in thousands
Consolidated debt	$	3,916,715		$	977,031		$	4,893,746
Unconsolidated debt		1,402,059			186,963			1,589,022

Total debt	$	5,318,774		$	1,163,994		$	6,482,768
Weighted average interest rate		4.51	%		3.15	%		4.27	%
Weighted average maturity (years)(a)								5.7

(a): Average loan life assumes (i) the repayment of Wilton Mall with cash on hand, (ii) the repayment of the Greeley debt, which has been defeased with treasury securities, (iii) the transition of Fiesta Mall and the mortgage to the lender and (iv) the extension of The Macerich Partnership, L.P. line of credit to August 2018.

The Macerich Company

Supplemental Financial and Operating Information (Unaudited)

Outstanding Debt by Maturity Date



	As of June 30, 2013
Center/Entity (dollars in thousands)	Maturity Date		Effective Interest Rate(a)			Fixed		Floating		Total Debt Balance(a)
I. Consolidated Assets:
Greeley—Defeasance		09/01/13		6.34	%	$	23,593	$	—	$	23,593
Great Northern Mall		12/01/13		5.19	%		35,944		—		35,944
Fiesta Mall(b)		01/01/15		4.98	%		84,000		—		84,000
South Plains Mall		04/11/15		6.58	%		100,587		—		100,587
Fresno Fashion Fair		08/01/15		6.76	%		160,012		—		160,012
Flagstaff Mall		11/01/15		5.03	%		37,000		—		37,000
Vintage Faire Mall		11/05/15		5.81	%		99,774		—		99,774
Valley River Center		02/01/16		5.59	%		120,000		—		120,000
Prasada(c)		03/29/16		5.25	%		6,631		—		6,631
Salisbury, Centre at		05/01/16		5.83	%		115,000		—		115,000
Eastland Mall		06/01/16		5.79	%		168,000		—		168,000
Valley Mall		06/01/16		5.85	%		42,525		—		42,525
Deptford Mall		06/01/16		6.46	%		14,676		—		14,676
Freehold Raceway Mall(d)		01/01/18		4.20	%		116,683		—		116,683
Santa Monica Place		01/03/18		2.99	%		237,929		—		237,929
Arrowhead Towne Center		10/05/18		2.76	%		239,624		—		239,624
SanTan Village Regional Center(e)		06/01/19		3.14	%		117,148		—		117,148
Chandler Fashion Center(d)		07/01/19		3.77	%		100,200		—		100,200
Kings Plaza Shopping Center		12/03/19		3.67	%		495,292		—		495,292
Danbury Fair Mall		10/01/20		5.53	%		236,980		—		236,980
Fashion Outlets of Niagara Falls USA		10/06/20		4.89	%		125,309		—		125,309
Green Acres Mall		02/03/21		3.61	%		322,920		—		322,920
Tucson La Encantada		03/01/22		4.23	%		73,535		—		73,535
Pacific View		04/01/22		4.08	%		137,114		—		137,114
Oaks, The		06/05/22		4.14	%		216,199		—		216,199
Chesterfield Towne Center		10/01/22		4.80	%		110,000		—		110,000
Westside Pavilion		10/01/22		4.49	%		153,395		—		153,395
Towne Mall		11/01/22		4.48	%		23,183		—		23,183
Deptford Mall		04/03/23		3.76	%		203,462		—		203,462

Total Fixed Rate Debt for Consolidated Assets				4.42	%	$	3,916,715	$	—	$	3,916,715

Wilton Mall(f)		08/01/13		1.20	%	$	—	$	40,000	$	40,000
Promenade at Casa Grande(g)		12/30/13		5.21	%		—		33,457		33,457
Paradise Valley Mall(h)		08/31/14		6.30	%		—		79,500		79,500
Victor Valley, Mall of		11/06/14		2.75	%		—		90,000		90,000
Twenty Ninth Street		01/18/16		3.03	%		—		107,000		107,000
The Macerich Partnership, L.P.—Line of Credit(h)(i)		05/02/16		2.99	%		—		405,000		405,000
Northgate Mall		03/01/17		3.07	%		—		64,000		64,000
Fashion Outlets of Chicago(h)(j)		03/05/17		2.99	%		—		33,074		33,074
The Macerich Partnership, L.P.—Term Loan		12/08/18		2.79	%		—		125,000		125,000

Total Floating Rate Debt for Consolidated Assets				3.22	%	$	—	$	977,031	$	977,031

Total Debt for Consolidated Assets				4.18	%	$	3,916,715	$	977,031	$	4,893,746

The Macerich Company
Supplemental Financial and Operating Information (Unaudited)
Outstanding Debt by Maturity Date



	As of June 30, 2013
Center/Entity (dollars in thousands)	Maturity Date		Effective Interest Rate(a)			Fixed			Floating			Total Debt Balance(a)
II. Unconsolidated Assets (At Company's pro rata share):
Tysons Corner Center (50%)		02/17/14		4.78	%	$	149,767		$	—		$	149,767
Biltmore Fashion Park (50%)		10/01/14		8.25	%		29,120			—			29,120
Lakewood Center (51%)		06/01/15		5.43	%		127,500			—			127,500
Broadway Plaza (50%)		08/15/15		6.12	%		70,082			—			70,082
Camelback Colonnade (73.2%)		10/12/15		4.82	%		34,423			—			34,423
Washington Square (51%)		01/01/16		6.04	%		119,819			—			119,819
North Bridge, The Shops at (50%)		06/15/16		7.52	%		98,257			—			98,257
West Acres (19%)		10/01/16		6.41	%		11,508			—			11,508
Corte Madera, The Village at (50.1%)		11/01/16		7.27	%		38,536			—			38,536
Stonewood Center (51%)		11/01/17		4.67	%		54,853			—			54,853
Los Cerritos Center (51%)		07/01/18		4.50	%		98,904			—			98,904
Scottsdale Fashion Square (50%)		04/03/23		3.02	%		261,620			—			261,620
Queens Center (51%)		01/01/25		3.65	%		306,000			—			306,000
Wilshire Boulevard (30%)		01/01/33		6.35	%		1,670			—			1,670

Total Fixed Rate Debt for Unconsolidated Assets				4.76	%	$	1,402,059		$	—		$	1,402,059

Boulevard Shops (50%)		12/16/13		3.25	%	$	—		$	10,226		$	10,226
Estrella Falls, The Market at (39.7%)		06/01/15		3.16	%		—			13,310			13,310
Inland Center (50%)		04/01/16		3.44	%		—			25,000			25,000
Superstition Springs Center (66.7%)		10/28/16		2.80	%		—			45,000			45,000
Ridgmar Mall (50%)(h)		04/11/17		2.95	%		—			25,927			25,927
Kierland Commons (50%)(h)		01/02/18		2.29	%		—			67,500			67,500

Total Floating Rate Debt for Unconsolidated Assets				2.77	%	$	—		$	186,963		$	186,963

Total Debt for Unconsolidated Assets				4.53	%	$	1,402,059		$	186,963		$	1,589,022

Total Debt				4.27	%	$	5,318,774		$	1,163,994		$	6,482,768

Percentage to Total							82.04	%		17.96	%		100.00	%

(a): The debt balances include the unamortized debt premiums/discounts. Debt premiums/discounts represent the excess of the fair value of debt over the principal value of debt assumed in various acquisitions and are amortized into interest expense over the remaining term of the related debt in a manner that approximates the effective interest method. The annual interest rate in the above table represents the effective interest rate, including the debt premiums/discounts and loan financing costs.
(b): The Company is negotiating with the loan servicer for Fiesta Mall, which will likely result in a transition of the asset to the loan servicer or receiver.
(c): This property is owned by a consolidated joint venture. The above debt balance represents the Company's pro rata share of 50.0%.
(d): This property is owned by a consolidated joint venture. The above debt balance represents the Company's pro rata share of 50.1%.
(e): This property is owned by a consolidated joint venture. The above debt balance represents the Company's pro rata share of 84.9%.
(f): This loan was repaid in full by the Company on August 1, 2013.
(g): This property is owned by a consolidated joint venture. The above debt balance represents the Company's pro rata share of 51.3%.
(h): The maturity date assumes that all such extension options are fully exercised and that the Company and/or its affiliates do not opt to refinance the debt prior to these dates.
(i): Effective August 6, 2013, the Company's unsecured revolving line of credit facility is modified and extended. The amended $1.5 billion facility has the ability to expand up to $2.0 billion and will mature on August 6, 2018. The facility provides for interest rate spreads over LIBOR ranging from 1.375% to 2.0%, based on the Company's overall leverage. The interest rate at closing is 1.50% over LIBOR.
(j): This property is owned by a consolidated joint venture. The above debt balance represents the Company's pro rata share of 60.0%.

The Macerich Company

Supplemental Financial and Operating Information (Unaudited)

Development Pipeline Forecast

(Dollars in millions)

as of June 30, 2013

In-Process Developments and Redevelopments:

Property	Project Type				Total Project Cost at 100% (a)(c)				Total Project Cost Pro-Rata (a)(c)		Pro Rata Capitalized Costs at 6/30/2013(a)(c)


Fashion Outlets of Chicago Rosemont, IL	Ground Up—Outlet Center Development	526,000	11	%	$	211.0	60	%	$	126.6	$	80.0	August 2013
Fashion Outlets of Niagara Falls USA Niagara Falls, NY	Expansion of existing Outlet Center	175,000	9	%	$	79.4	100	%	$	79.4	$	11.5	2014 - 2015
Tysons Corner Center McLean, VA	Redevelopment—Office, Residential & Hotel	1,386,000	8	%	$	512.4	50	%	$	256.2	$	81.9	2014

Total					$	802.8			$	462.2	$	173.4

Shadow Pipeline of Developments and Redevelopments(d):

Property	Project Type		Return(a)(b)	Total Project Cost at 100% (a)(c)			Total Project Cost Pro-Rata (a)(c)	Pro Rata Capitalized Costs at 6/30/2013(a)(c)


Broadway Plaza Walnut Creek, CA	Expansion—New Retail Space	300,000	TBD	$240 - $260	50.0	%	$120 - $130	$	4.4	2015 - 2017
Estrella Falls Mall Goodyear, AZ	Ground Up—Regional Shopping Center Development	850,000	TBD	$225 - $250	86.6	%	$195 - $217	$	31.5	2016 - 2017
Green Acres Mall Valley Stream, NY	Big Box addition and anchor expansion / repositioning	TBD	TBD	$100 - $150	100	%	$100 - $150	$	22.8	2015 - 2016
Kings Plaza Shopping Center Brooklyn, NY	Major Remerchandising and redemising	TBD	TBD	$100 - $120	100	%	$100 - $120	$	0.6	2014 - 2016
Los Cerritos Center Cerritos, CA	Redevelopment	200,000	TBD	$30 - $40	51	%	$15 - $20	$	0.1	2015 - 2016
500 North Michigan Avenue (contiguous to The Shops at North Bridge) Chicago, IL	Redevelopment/Street Retail	TBD	TBD	$30 - $45	100	%	$30 - $45	$	0.1	2015 - 2016
Paradise Valley Mall Phoenix, AZ	Redevelopment— including a Theater	TBD	TBD	$55 - $70	100	%	$55 - $70	$	0.2	2015 - 2017

Total			8% - 10%	$780 - $935			$615 - $752	$	59.7

(a): Much of this information is estimated and may change from time to time. See the Company's forward-looking statements disclosure on page 1 for factors that may affect the information provided in this table.
(b): Estimated Return is calculated based on stabilized income after development divided by project direct costs excluding GAAP allocations of non-cash and indirect costs.
(c): This excludes GAAP allocations of non-cash and indirect costs.
(d): This section includes potential developments or redevelopments that the Company is considering. The scope of these projects may change. Average returns are expected to be 8% to 10%. There is no certainty that the Company will develop any or all of these potential projects.

The Macerich Company

Corporate Information

Stock Exchange Listing

New York Stock Exchange
Symbol: MAC

The following table shows high and low sales prices per share of common stock during each quarter in 2013, 2012 and 2011 and dividends per share of common stock declared and paid by quarter:



	Market Quotation per Share				Dividends
Quarter Ended:	High		Low		Declared and Paid
March 31, 2011	$	50.80	$	45.69	$	0.50
June 30, 2011	$	54.65	$	47.32	$	0.50
September 30, 2011	$	56.50	$	41.96	$	0.50
December 31, 2011	$	51.30	$	38.64	$	0.55
March 31, 2012	$	58.08	$	49.67	$	0.55
June 30, 2012	$	62.83	$	54.37	$	0.55
September 30, 2012	$	61.80	$	56.02	$	0.55
December 31, 2012	$	60.03		54.32	$	0.58
March 31, 2013	$	64.47	$	57.66	$	0.58
June 30, 2013	$	72.19	$	56.68	$	0.58

Dividend Reinvestment Plan

Stockholders may automatically reinvest their dividends in additional common stock of the Company through the Direct Investment Program, which also provides for purchase by voluntary cash contributions. For additional information, please contact Computershare Trust Company, N.A. at 800-567-0169.



Corporate Headquarters The Macerich Company 401 Wilshire Boulevard, Suite 700 Santa Monica, California 90401 310-394-6000 www.macerich.com		Transfer Agent Computershare Trust Company, N.A. P.O. Box 43078 Providence, Rhode Island 02940-3078 800-567-0169 www.computershare.com

Macerich Website

For an electronic version of our annual report, our SEC filings and documents relating to Corporate Governance, please visit www.macerich.com.

Investor Relations


Jean Wood Vice President, Investor Relations Phone: 310-899-6366 jean.wood@macerich.com		John Perry Senior Vice President, Investor Relations Phone: 310-899-6345 john.perry@macerich.com

QuickLinks

Exhibit 99.2