On July 14, 2016, Paul Pezzoli (the “Plaintiff”), a stockholder of General Growth Properties, Inc., a Delaware corporation (the “Company” or “we”), filed a putative class action complaint (the “Action”) in the Delaware Court of Chancery (the “Court”) against our Board of Directors, alleging that provisions in the Company’s Amended and Restated Certificate of Incorporation and Amended and Restated Bylaws that allowed the removal of directors “only for cause” violated Section 141(k) of the Delaware General Corporation Law and gave rise to claims for breach of fiduciary duty.

Following the actions taken by our Board on July 20, 2016 that we reported in Form 8-K on July 21, 2016, counsel for Plaintiff agreed to seek the Court’s dismissal of the Action as moot. Counsel for Plaintiff also sought an award of attorneys’ fees and expenses from the Court. To avoid any risk, distraction and expense associated with litigating the attorneys’ fees and expense award, the Company agreed to resolve the matter for a payment to Plaintiff’s counsel in the amount of $37,500, which the Company shall pay directly. This amount will be paid by the Company and has not been approved by the Court.

On January 2, 2017, the Court entered an order dismissing the Action with prejudice as to the Plaintiff and without prejudice as to all other members of the putative class.

About GENERAL GROWTH PROPERTIES, INC. (NYSE:GGP)

General Growth Properties, Inc. (GGP) is a self-administered and self-managed real estate investment trust (REIT). The Company operates through operation, development and management of retail and other rental properties segment. It is engaged in owning and operating retail properties to communities, retailers, employees, consumers and shareholders. The Company owns, either entirely or with joint venture partners, over 130 retail properties located across the United States comprising approximately 130 million square feet of gross leasable area (GLA). The Company’s business is conducted through GGP Operating Partnership, LP (GGPOP), GGP Nimbus, LP (GGPN) and GGP Limited Partnership (GGPLP, and together with GGPN the Operating Partnerships), subsidiaries of GGP. The Company’s properties include Ala Moana Center, Boise Towne Square, Coral Ridge Mall, Crossroads Center, Fashion Show, Lynnhaven Mall, Mondawmin Mall, North Point Mall, Oak View Mall, Park City Center and Owings Mills Mall.

GENERAL GROWTH PROPERTIES, INC. (NYSE:GGP) Recent Trading Information

GENERAL GROWTH PROPERTIES, INC. (NYSE:GGP) closed its last trading session 00.00 at 26.00 with 4,351,457 shares trading hands.