Taubman Centers Announces Taxable Allocations of 2017 Common and Preferred Share Dividend Distributions

01/17/2018

BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)-- Taubman Centers, Inc. (NYSE: TCO) announced today the tax allocations of the 2017 dividend distributions on its common shares and 6.5% Series J and 6.25% Series K Cumulative Redeemable Preferred Shares.

The 2017 distributions paid with respect to Taubman Centers, Inc. Common Stock (NYSE: TCO/Cusip no. 876664103) are as follows:

                        Long Term     Unrecaptured
Ordinary Return of Capital Sec. 1250
Declaration Record Payable Gross Dividend Capital Gain Capital Gain
Date Date Date Distribution Percent Percent Percent Percent
03/02/17 03/15/17 03/31/17 0.62500 74.80688% 00.00000% 17.58960% 7.60352%
06/01/17 06/15/17 06/30/17 0.62500 55.87792% 18.92896% 17.58960% 7.60352%
09/01/17 09/15/17 09/29/17 0.62500 46.07072% 28.73616% 17.58960% 7.60352%
12/04/17 12/15/17 12/29/17 0.62500 46.07072% 28.73616% 17.58960% 7.60352%
2017 TOTALS PER SHARE 2.50000 55.70656% 19.10032% 17.58960% 7.60352%

Amounts reported to Direct Share Purchase and Dividend Reinvestment Plan participants will differ due to administrative costs. Participants should refer to their Form 1099, which will be mailed on or before February 15, 2018 and contact Computershare at (888) 877-2889 for further information.

• The return of capital percentage on common stock dividends is also reported on the Taubman Website at www.taubman.com, pursuant to U.S. tax basis reporting required under Internal Revenue Code Section 6045B.

• The portion of the per share dividends paid in 2017 detailed above as capital gains (long term and unrecaptured Section 1250) are designated as capital gain dividends for tax purposes as required by Internal Revenue Code Section 857(b)(3)(C). The unrecaptured Section 1250 gains are 25% rate gain distributions and the long term capital gains are maximum 20% rate gain distributions but may be eligible for a lower capital gains rate. Please consult your tax advisor.

• For 2017, the percentage of the ordinary dividend distribution to common shareholders allocable as qualified dividends is as follows: 4.36569% in quarter one, 5.84459% in quarter two, and 7.08874% in quarters three and four.

• Taxability of the 2017 common dividend is not indicative of the taxability of future dividends.

The 2017 distributions paid with respect to Taubman Centers, Inc. Series J Preferred Stock (NYSE: TCO PrJ/Cusip no. 876664608) are as follows:

                        Long Term     Unrecaptured
Ordinary Return of Capital Sec. 1250
Declaration Record Payable Gross Dividend Capital Gain Capital Gain
Date Date Date Distribution Percent Percent Percent Percent
03/02/17 03/15/17 03/31/17 0.40625 64.64819% 0% 24.68229% 10.66952%
06/01/17 06/15/17 06/30/17 0.40625 64.64819% 0% 24.68229% 10.66952%
09/01/17 09/15/17 09/29/17 0.40625 64.64819% 0% 24.68229% 10.66952%
12/04/17 12/15/17 12/29/17 0.40625 64.64819% 0% 24.68229% 10.66952%
2017 TOTALS PER SHARE 1.62500 64.64819% 0% 24.68229% 10.66952%

• The portion of the per share dividends paid in 2017 detailed above as capital gains (long term and unrecaptured Section 1250) are designated as capital gain dividends for tax purposes as required by Internal Revenue Code Section 857(b)(3)(C). The unrecaptured Section 1250 gains are 25% rate gain distributions and the long term capital gains are maximum 20% rate gain distributions but may be eligible for a lower capital gains rate. Please consult your tax advisor.

• For 2017, 7.08874% of the ordinary dividend distribution to preferred shareholders will be allocable as qualified dividends.

• Taxability of the 2017 dividend to Series J Preferred Stock holders is not indicative of the taxability of future dividends.

The 2017 distributions paid with respect to Taubman Centers, Inc. Series K Preferred Stock (NYSE: TCO PrK/Cusip no. 876664707) are as follows:

                        Long Term     Unrecaptured
Ordinary Return of Capital Sec. 1250
Declaration Record Payable Gross Dividend Capital Gain Capital Gain
Date Date Date Distribution Percent Percent Percent Percent
03/02/17 03/15/17 03/31/17 0.390625 64.64819% 0% 24.68229% 10.66952%
06/01/17 06/15/17 06/30/17 0.390625 64.64819% 0% 24.68229% 10.66952%
09/01/17 09/15/17 09/29/17 0.390625 64.64819% 0% 24.68229% 10.66952%
12/04/17 12/15/17 12/29/17 0.390625 64.64819% 0% 24.68229% 10.66952%
2017 TOTALS PER SHARE 1.562500 64.64819% 0% 24.68229% 10.66952%

• The portion of the per share dividends paid in 2017 detailed above as capital gains (long term and unrecaptured Section 1250) are designated as capital gain dividends for tax purposes as required by Internal Revenue Code Section 857(b)(3)(C). The unrecaptured Section 1250 gains are 25% rate gain distributions and the long term capital gains are maximum 20% rate gain distributions but may be eligible for a lower capital gains rate. Please consult your tax advisor.

• For 2017, 7.08874% of the ordinary dividend distribution to preferred shareholders will be allocable as qualified dividends.

• Taxability of the 2017 dividend to Series K Preferred Stock holders is not indicative of the taxability of future dividends.

About Taubman

Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 27 regional, super-regional and outlet shopping centers in the U.S. and Asia. Taubman’s U.S.-owned properties are the most productive in the publicly held U.S. regional mall industry. Founded in 1950, Taubman is headquartered in Bloomfield Hills, Mich. Taubman Asia, founded in 2005, is headquartered in Hong Kong. www.taubman.com.

For ease of use, references in this press release to “Taubman Centers,” “company,” “Taubman” or an operating platform mean Taubman Centers, Inc. and/or one or more of a number of separate, affiliated entities. Business is actually conducted by an affiliated entity rather than Taubman Centers, Inc. itself or the named operating platform.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements reflect management's current views with respect to future events and financial performance. Forward-looking statements can be identified by words such as “will”, “may”, “could”, “expect”, “anticipate”, “believes”, “intends”, “should”, “plans”, “estimates”, “approximate”, “guidance” and similar expressions in this press release that predict or indicate future events and trends and that do not report historical matters. The forward-looking statements included in this release are made as of the date hereof. Except as required by law, the company assumes no obligation to update these forward-looking statements, even if new information becomes available in the future. Actual results may differ materially from those expected because of various risks, uncertainties and other factors. Such factors include, but are not limited to: changes in market rental rates; unscheduled closings or bankruptcies of tenants; relationships with anchor tenants; trends in the retail industry; the liquidity of real estate investments; the company’s ability to comply with debt covenants; the availability and terms of financings; changes in market rates of interest and foreign exchange rates for foreign currencies; changes in value of investments in foreign entities; the ability to hedge interest rate and currency risk; risks related to acquiring, developing, expanding, leasing and managing properties; changes in value of investments in foreign entities; risks related to joint venture properties; insurance costs and coverage; security breaches that could impact the company’s information technology, infrastructure or personal data; the loss of key management personnel; shareholder activism costs and related diversion of management time; terrorist activities; maintaining the company’s status as a real estate investment trust; changes in the laws of states, localities, and foreign jurisdictions that may increase taxes on the company’s operations; and changes in global, national, regional and/or local economic and geopolitical climates. You should review the company's filings with the Securities and Exchange Commission, including “Risk Factors” in its most recent Annual Report on Form 10-K and subsequent quarterly reports, for a discussion of such risks and uncertainties.

Source: Taubman Centers, Inc.

Mark Godek, Taubman, Director, Tax Compliance, (248) 258-7667

mgodek@taubman.com

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