Exhibit 99.1


washingtonprimegroup.jpg

Washington Prime Group Reports Fourth Quarter and Fiscal Year 2016 Results

Company Has Completed Sale of All Noncore Properties
Board of Directors Declares Quarterly Dividend


COLUMBUS, OH - Feb. 22, 2017 - Washington Prime Group Inc. (NYSE: WPG)
today reported financial and operating results for the fourth quarter and fiscal year ended December 31, 2016.

Lou Conforti, CEO and Director stated. “Since assuming the role of CEO, my primary objective has been to foundationally strengthen WPG via straightforward financial and operational measures.  We have accomplished the former as illustrated by dramatically improved financial metrics which now rank among the best within our sector.  In addition, our operational results further prove we are ‘grinding it out’ as our Enclosed assets exhibited stability and Open Air assets actually led the peer group from a Comparable NOI standpoint.”

“Our focus for the foreseeable future is, of course, to lease space by providing innovative solutions as well as a heightened focus upon redevelopment which we believe is our best value add proposition,” added Conforti. “We also continue to provide absolute transparency as it relates to the retail landscape in general, and department store specifically, and maintain a proactive stance as it relates to adaptive reuse of such space.  Last, the Company is adopting dynamic innovation measures which result in a differentiated guest experience.”

Fourth Quarter Results

Net income attributable to common shareholders for the fourth quarter of 2016 was $25.4 million, or $0.14 per diluted share, compared to a loss of $(97.0) million, or $(0.53) per diluted share, a year ago. The increase in net income relates primarily to a $136.9 million decrease in impairment charges compared to the fourth quarter of 2015 related to the Company’s noncore properties, a $4.9 million decrease in general and administrative costs, compared to the prior year period, as well as no merger, restructuring and transaction costs compared to $3.5 million in such costs in the fourth quarter of 2015.

Funds from Operations (FFO)¹ for the fourth quarter of 2016 were $107.4 million, or $0.49 per diluted share. This compares to $104.5 million, or $0.47 per diluted share, during the same quarter a year ago. Merger, restructuring and transaction costs of $(3.5) million for the fourth quarter of 2015 are excluded from adjusted FFO (AFFO)¹, as well as a gain on extinguishment of debt of $0.5 million in the fourth quarter of 2016. When excluding these items, AFFO for the fourth quarter of 2016 was $106.9 million, or $0.48 per diluted share, which compares to $108.0 million, or $0.49 per diluted share for the fourth quarter of 2015.

Comparable net operating income (NOI)¹ for the Company’s core portfolio increased 0.7% during the fourth quarter of 2016, compared to the same period a year ago, which was in line with internal expectations.

Fiscal Year 2016 Results

Net income attributable to common shareholders for fiscal year 2016 was $53.1 million, or $0.29 per diluted share, compared to a loss of $(101.3) million, or $(0.55) per diluted share, a year ago. The increase in net income relates



The following information was filed by Washington Prime Group Inc. (WPG) on Wednesday, February 22, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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