Shake Shack will be the first of a new roster of curated, elevated dining offerings at transformed Alabama shopping destination

Tanger®, a leading owner and operator of outlet and other open-air retail shopping destinations, announced today that, as part of its transformation of Tanger Outlets Foley, a top retail destination in southern Alabama, it has secured Shake Shack as the first of a new roster of elevated food, beverage, and entertainment offerings at the shopping center.

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Rendering of front exterior of planned new Shake Shack location at Tanger Outlets Foley in Foley, Ala. Image Credit: Rand Harder, Progressive Companies and Tony Hilger, Tanger

Tanger commenced construction earlier this year on a renovation of the more than 500,000-square-foot center to enhance and modernize the shopping experience while preserving its coastal character. As part of the transformation, Tanger plans to allocate approximately 20,000 square feet of dedicated, experiential food and beverage space, with opportunity to feature up to eight new dining concepts, including Shake Shack. The reimagined design will feature expansive patios, walkable dining zones, and thoughtfully integrated gathering spaces that encourage longer visits and create a more social, day-to-night destination for guests.

“Across our portfolio, we have been very intentional about introducing fresh, elevated food, beverage, and entertainment concepts that create an immersive, repeat-visit environment for our guests,” said Justin Stein, Executive Vice President and Chief Revenue Officer at Tanger. “That strategy is evident in the approach we’ve taken to renovate and remerchandise Tanger Foley, where we’re curating an optimal mix of in-demand retail and dining brands that will reinvent the on-site experience for the center’s tourist and local audiences.”

"We’re thrilled to welcome Shake Shack to Tanger Foley, initiating a new, experience-focused approach to dining at this center," said Hugo Gilbert, Senior Director of Leasing - Restaurants and Entertainment at Tanger. "We look forward to introducing additional standout national, regional, and local dining options here that both complement our retail environment and create a vibrant social destination that resonates with our community."

Known for its fresh, elevated take on American classics, Shake Shack currently has only one other location in the state of Alabama. The new Tanger Foley location will be the first to bring Shake Shack’s made-to-order 100% Angus beef burgers, Crinkle Cut fries, and frozen custards to the greater Gulf South market.

The transformation of Tanger Foley creates new opportunities for additional restaurant operators to join a redefined dining and shopping destination. The center is actively seeking distinctive, experience-driven concepts that complement its evolving mix and contribute to a more dynamic and engaging guest experience.

For more information about available opportunities at Tanger Foley, contact leasing@tanger.com.

About Tanger Foley

Tanger Foley is an upscale, open-air outlet shopping destination in Alabama’s Baldwin County that features an extensive collection of top brands and local shops. The more than 500,000-square-foot center features nearly 100 stores and eateries, including shopper-favorite brands like Nike, Crocs, TJ Maxx, J.Crew, and Aerie. For a full store listing and map, as well as directions, events, and offers, visit tanger.com/foley, download the Tanger App, or connect on Facebook and Instagram. Guests can access even more by joining TangerClub, Tanger’s exclusive loyalty program, for curated offers and rewards.

About Tanger®

Tanger Inc. (NYSE: SKT) is a leading owner and operator of outlet and other open-air retail shopping destinations, with 45 years of expertise in the retail and outlet shopping industries. Tanger’s portfolio of 38 outlet centers and four open-air lifestyle centers includes nearly 17 million square feet well positioned across tourist destinations and vibrant markets in 22 U.S. states and Canada. A publicly traded REIT since 1993, Tanger continues to innovate the retail experience for its shoppers with over 3,000 stores operated by more than 800 different brand name companies. For more information on Tanger, call 1-800-4TANGER or visit tanger.inc.

Safe Harbor Statement

This release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements, which are based on certain assumptions and describe the Company's future plans, strategies and expectations, are generally identifiable by use of the words "believe," "expect," "intend," "anticipate," or similar expressions.

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

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As part of its transformation of Tanger Outlets Foley, a top retail destination in southern Alabama, Tanger has secured Shake Shack as the first of a new roster of elevated food, beverage, and entertainment offerings at the shopping center.