Exhibit 99.1

RECONCILIATION OF NON-GAAP MEASURES

Funds From Operations (FFO)

Our Company uses FFO in addition to net income to report our 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. Our Company also presents FFO excluding early extinguishment of debt, net and costs related to unsolicited takeover offer.

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 our Company believes real estate values fluctuate based on market conditions rather than depreciating in value ratably on a straight-line basis over time. Our Company believes that such a
presentation also provides investors with a more meaningful measure of our operating results in comparison to the operating results of other REITs. Our Company believes that FFO excluding early extinguishment of debt, net and costs related to
unsolicited takeover offer provides useful supplemental information regarding our Companys performance as it shows a more meaningful and consistent comparison of our Companys operating performance and allows investors to more easily
compare our Companys results. Our Company believes that FFO on a diluted basis is a measure investors find most useful in measuring the dilutive impact of outstanding convertible securities.

Our Company believes that FFO does not represent cash flow from operations as defined by GAAP, should not be considered as an alternative to net income as
defined by GAAP, and is not indicative of cash available to fund all cash flow needs. Our Company also cautions that FFO, as presented, may not be comparable to similarly titled measures reported by other real estate investment trusts.

Management compensates for the limitations of FFO by providing investors with financial statements prepared according to GAAP, along with this detailed
discussion of FFO and a reconciliation of FFO and FFO-diluted to net income available to common stockholders. Management believes that to further understand our Companys performance, FFO should be
compared with our Companys reported net income, as presented in our Companys consolidated financial statements. See our Companys Annual Report on Form 10-K for the year ended
December 31, 2017.



---

The following reconciles net income attributable to our Company to FFO and
FFO-diluted for the years ended December 31, 2017, 2016, 2015 and 2014 (dollars and shares in thousands):



|                                                                                                                                                       |  |      |         |   |      |   |          |      |  |   |          |   |  |   |            |  
|------------------------------------------------------------------------------------------------------------------------------------------------------ |  | ---- | ------- | - | ---- | - | -------- | ---- |  | - | -------- | - |  | - | ---------- | -
|                                                                                                                                                       |  | 2017 |         |   | 2016 |   |          | 2015 |  |   | 2014     |  
|Net income attributable to our Company                                                                                                                 |  | $    | 146,130 |   |      | $ | 516,995  |      |  | $ | 487,562  |   |  | $ | 1,499,042  |  
|Adjustments to reconcile net income attributable to our Company to FFObasic:                                                                          |  |      |         |   |      |   |          |      |  |   |          |   |  |   |            |  
|Noncontrolling interests in the Operating Partnership                                                                                                  |  |      | 10,729  |   |      |   | 37,780   |      |  |   | 32,615   |   |  |   | 105,584    |  
|Gain on sale or write down of consolidated assets, net                                                                                                 |  |      | (42,446 | ) |      |   | (415,348 | )    |  |   | (378,248 | ) |  |   | (73,440    | )
|Gain on remeasurement of consolidated assets                                                                                                           |  |      |        |   |      |   |         |      |  |   | (22,089  | ) |  |   | (1,423,136 | )
|Add: gain on undepreciated assetsconsolidated assets                                                                                                  |  |      | 1,564   |   |      |   | 3,717    |      |  |   | 1,326    |   |  |   | 1,396      |  
|Less: loss on write-down of non-real estate
assetsconsolidated assets                                                                                 |  |      | (10,138 | ) |      |   |         |      |  |   |         |   |  |   |           |  
|Add: noncontrolling interests share of gain (loss) on sale or write-down of
assetsconsolidated assets                                                 |  |      | 1,209   |   |      |   | (1,662   | )    |  |   | 481      |   |  |   | 146        |  
|(Gain) loss on sale or write down of assetsunconsolidated joint ventures(1)                                                                           |  |      | (14,783 | ) |      |   | 189      |      |  |   | (4,392   | ) |  |   | 1,237      |  
|Add: gain (loss) on sale of undepreciated assetsunconsolidated joint ventures(1)                                                                      |  |      | 6,644   |   |      |   | (2       | )    |  |   | 4,395    |   |  |   | 2,621      |  
|Depreciation and amortization on consolidated assets                                                                                                   |  |      | 335,431 |   |      |   | 348,488  |      |  |   | 464,472  |   |  |   | 378,716    |  
|Less: noncontrolling interests in depreciation and amortizationconsolidated assets                                                                    |  |      | (15,126 | ) |      |   | (15,023  | )    |  |   | (14,962  | ) |  |   | (20,700    | )
|Depreciation and amortizationunconsolidated joint ventures(1)                                                                                         |  |      | 177,274 |   |      |   | 179,600  |      |  |   | 84,160   |   |  |   | 82,570     |  
|Less: depreciation on personal property                                                                                                                |  |      | (13,610 | ) |      |   | (12,430  | )    |  |   | (13,052  | ) |  |   | (11,282    | )
|                                                                                                                                                       |  |      |         |   |      |   |          |      |  |   |          |   |  |   |            |  
|FFO attributable to common stockholders and unit holdersbasic and diluted                                                                             |  |      | 582,878 |   |      |   | 642,304  |      |  |   | 642,268  |   |  |   | 542,754    |  
|(Gain) loss on extinguishment of debt, netconsolidated assets                                                                                         |  |      |        |   |      |   | (1,709   | )    |  |   | (1,487   | ) |  |   | 9,551      |  
|                                                                                                                                                       |  |      |         |   |      |   |          |      |  |   |          |   |  |   |            |  
|FFO attributable to common stockholders and unit holders excluding extinguishment of debt,
netdiluted                                                 |  |      | 582,878 |   |      |   | 640,595  |      |  |   | 640,781  |   |  |   | 552,305    |  
|Costs related to unsolicited takeover offer                                                                                                            |  |      |        |   |      |   |         |      |  |   | 25,204   |   |  |   |           |  
|                                                                                                                                                       |  |      |         |   |      |   |          |      |  |   |          |   |  |   |            |  
|FFO attributable to common stockholders and unit holders excluding extinguishment of debt, net and
costs related to unsolicited takeover offerdiluted |  | $    | 582,878 |   |      | $ | 640,595  |      |  | $ | 665,985  |   |  | $ | 552,305    |  
|                                                                                                                                                       |  |      |         |   |      |   |          |      |  |   |          |   |  |   |            |  
|Weighted average number of FFO shares outstanding for:                                                                                                 |  |      |         |   |      |   |          |      |  |   |          |   |  |   |            |  
|FFO attributable to common stockholders and unit holdersbasic(2)                                                                                      |  |      | 152,293 |   |      |   | 157,320  |      |  |   | 168,478  |   |  |   | 153,224    |  
|Adjustments for the impact of dilutive securities in computing FFOdiluted:                                                                            |  |      |         |   |      |   |          |      |  |   |          |   |  |   |            |  
|Share and unit-based compensation plans                                                                                                                |  |      | 36      |   |      |   | 112      |      |  |   | 144      |   |  |   | 147        |  
|                                                                                                                                                       |  |      |         |   |      |   |          |      |  |   |          |   |  |   |            |  
|FFO attributable to common stockholders and unit holdersdiluted(3)                                                                                    |  |      | 152,329 |   |      |   | 157,432  |      |  |   | 168,622  |   |  |   | 153,371    |  
|                                                                                                                                                       |  |      |         |   |      |   |          |      |  |   |          |   |  |   |            |  



|(1) | Unconsolidated assets are presented at our Companys pro rata share.
|--- | --------------------------------------------------------------------

|(2) | Calculated based upon basic net income as adjusted to reach basic FFO. During the years ended December 31, 2017, 2016, 2015 and 2014, there were 10.4 million, 10.7 million, 10.6 million and
10.1 million OP Units outstanding, respectively.
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(3) | The computation of FFO-diluted shares outstanding includes the effect of share and unit-based compensation plans and the senior notes using the treasury stock method. It also
assumes the conversion of MACWH, LP common and preferred units to the extent that they are dilutive to the FFO-diluted computation.
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



---

The following reconciles net income per share attributable to common stockholders-diluted to FFO per
share-diluted for the years ended December 31, 2017, 2016, 2015 and 2014:



|                                                                                                                  |  |      |       |   |      |   |       |      |  |   |       |   |  |   |       |  
|----------------------------------------------------------------------------------------------------------------- |  | ---- | ----- | - | ---- | - | ----- | ---- |  | - | ----- | - |  | - | ----- | -
|                                                                                                                  |  | 2017 |       |   | 2016 |   |       | 2015 |  |   | 2014  |  
|Net income per share attributable to common stockholdersdiluted                                                  |  | $    | 1.02  |   |      | $ | 3.52  |      |  | $ | 3.08  |   |  | $ | 10.45 |  
|Per share impact of depreciation and amortization of real estate                                                  |  |      | 3.19  |   |      |   | 3.18  |      |  |   | 3.09  |   |  |   | 2.81  |  
|Per share impact of gain on remeasurement, sale or write down of assets, net                                      |  |      | (0.38 | ) |      |   | (2.62 | )    |  |   | (2.36 | ) |  |   | (9.72 | )
|                                                                                                                  |  |      |       |   |      |   |       |      |  |   |       |   |  |   |       |  
|FFO per sharediluted                                                                                             |  |      | 3.83  |   |      |   | 4.08  |      |  |   | 3.81  |   |  |   | 3.54  |  
|Per share impact of (gain) loss on early extinguishment of debt, net                                              |  |      |      |   |      |   | (0.01 | )    |  |   | (0.01 | ) |  |   | 0.06  |  
|Per share impact of costs related to unsolicited takeover offer                                                   |  |      |      |   |      |   |      |      |  |   | 0.15  |   |  |   |      |  
|                                                                                                                  |  |      |       |   |      |   |       |      |  |   |       |   |  |   |       |  
|FFO per share excluding early extinguishment of debt, net and costs related to unsolicited
takeover offerdiluted |  | $    | 3.83  |   |      | $ | 4.07  |      |  | $ | 3.95  |   |  | $ | 3.60  |  
|                                                                                                                  |  |      |       |   |      |   |       |      |  |   |       |   |  |   |       |  



---

Adjusted EBITDA, Net Operating Income (NOI) and NOISame Centers

Adjusted EBITDA represents earnings before interest, income taxes, depreciation, amortization, noncontrolling interests in the Operating Partnership,
extraordinary items, loss (gain) on remeasurement, sale or write down of assets, loss (gain) on extinguishment of debt and preferred dividends and includes joint ventures at their pro rata share. Management considers Adjusted EBITDA to be an
appropriate supplemental measure to net income because it helps investors understand the ability of our Company to incur and service debt and make capital expenditures. Our Company believes that Adjusted EBITDA should not be construed as an
alternative to operating income as an indicator of our Companys operating performance, or to cash flows from operating activities (as determined in accordance with GAAP) or as a measure of liquidity. Our Company also cautions that Adjusted
EBITDA, as presented, may not be comparable to similarly titled measurements reported by other companies.

Our Company presents Same Center NOI because we
believe it is useful for investors to evaluate the operating performance of comparable centers. Same Center NOI is calculated using total Adjusted EBITDA and eliminating the impact of the management companies revenues and operating expenses,
our general and administrative expenses, costs related to unsolicited takeover offer and the straight-line and above/below market adjustments to minimum rents and subtracting out NOI from Non-Same Centers.

The changes in Same Center NOI is calculated by dividing the change in NOI year-over-year by the preceding periods NOI based on the Same Center
population for the year most recently presented. For purposes of the comparison, our Company defines Same Centers as those Centers that are substantially complete and in operation for the entirety of both periods of the comparison. Non-Same Centers for comparison purposes, include those Centers or properties that are going through a substantial redevelopment, those properties that have recently transitioned to or from equity method joint
ventures to consolidated assets, properties recently acquired and properties that have been disposed of. Our Company moves a Center in and out of Same Centers based on whether the Center is substantially complete and in operation for the entirety of
both periods of the comparison. Accordingly, the adjustments reflect movement of Centers in and out of Same Centers for periods of comparison.



---

The following reconciles net income attributable to our Company to Adjusted EBITDA, NOI and NOISame Centers
for the years ended December 31, 2017, 2016, 2015, 2014 and 2013 (dollars in thousands).



|                                                         |  |      |          |   |      |   |          |      |  |   |            |   |  |   |            |  
|-------------------------------------------------------- |  | ---- | -------- | - | ---- | - | -------- | ---- |  | - | ---------- | - |  | - | ---------- | -
|                                                         |  | 2017 |          |   | 2016 |   |          | 2015 |  |   | 2014       |  
|Net income attributable to our Company                   |  | $    | 146,130  |   |      | $ | 516,995  |      |  | $ | 487,562    |   |  | $ | 1,499,042  |  
|Interest expense                                         |  |      | 263,382  |   |      |   | 251,618  |      |  |   | 242,126    |   |  |   | 241,400    |  
|Depreciation and amortization                            |  |      | 497,579  |   |      |   | 513,065  |      |  |   | 533,670    |   |  |   | 440,586    |  
|Noncontrolling interests in the Operating Partnership    |  |      | 10,729   |   |      |   | 37,780   |      |  |   | 32,615     |   |  |   | 105,584    |  
|(Gain) loss on extinguishment of debt, net               |  |      |         |   |      |   | (1,709   | )    |  |   | (1,487     | ) |  |   | 9,551      |  
|Gain on remeasurement, sale or write down of assets, net |  |      | (56,020  | ) |      |   | (416,821 | )    |  |   | (404,248   | ) |  |   | (1,495,193 | )
|Income tax expense (benefit)                             |  |      | 15,594   |   |      |   | 722      |      |  |   | (3,223     | ) |  |   | (4,269     | )
|Distributions on preferred units                         |  |      | 387      |   |      |   | 575      |      |  |   | 1,174      |   |  |   | 710        |  
|                                                         |  |      |          |   |      |   |          |      |  |   |            |   |  |   |            |  
|Adjusted EBITDA                                          |  |      | 877,781  |   |      |   | 902,225  |      |  |   | 888,189    |   |  |   | 797,411    |  
|REIT general and administrative expenses                 |  |      | 28,240   |   |      |   | 28,217   |      |  |   | 29,870     |   |  |   | 29,412     |  
|Costs related to unsolicited takeover offer              |  |      |         |   |      |   |         |      |  |   | 25,204     |   |  |   |           |  
|Management Companies revenues                           |  |      | (43,394  | ) |      |   | (39,464  | )    |  |   | (26,254    | ) |  |   | (33,981    | )
|Management Companies operating expenses                 |  |      | 100,121  |   |      |   | 98,323   |      |  |   | 92,340     |   |  |   | 88,424     |  
|Straight-line and above/below market adjustments         |  |      | (29,531  | ) |      |   | (38,309  | )    |  |   | (27,950    | ) |  |   | (18,357    | )
|                                                         |  |      |          |   |      |   |          |      |  |   |            |   |  |   |            |  
|NOIAll Centers                                          |  |      | 933,217  |   |      |   | 950,992  |      |  |   | 981,399    |   |  |   | 862,909    |  
|NOI of Non-Same Centers                                  |  |      | (57,606  | ) |      |   | (91,150  | )    |  |   | (81,708    | ) |  |   | (93,826    | )
|                                                         |  |      |          |   |      |   |          |      |  |   |            |   |  |   |            |  
|NOISame Centers                                         |  | $    | 875,611  |   |      | $ | 859,842  |      |  | $ | 899,691    |   |  | $ | 769,083    |  
|                                                         |  |      |          |   |      |   |          |      |  |   |            |   |  |   |            |  
|                                                         |  |      |          |  
|                                                         |  | 2016 |          |   | 2015 |   |          | 2014 |  |   | 2013       |  
|Net income attributable to our Company                   |  | $    | 516,995  |   |      | $ | 487,562  |      |  | $ | 1,499,042  |   |  | $ | 420,090    |  
|Interest expense                                         |  |      | 251,618  |   |      |   | 242,126  |      |  |   | 241,400    |   |  |   | 269,542    |  
|Depreciation and amortization                            |  |      | 513,065  |   |      |   | 533,670  |      |  |   | 440,586    |   |  |   | 441,363    |  
|Noncontrolling interests in the Operating Partnership    |  |      | 37,780   |   |      |   | 32,615   |      |  |   | 105,584    |   |  |   | 29,637     |  
|(Gain) loss on extinguishment of debt, net               |  |      | (1,709   | ) |      |   | (1,487   | )    |  |   | 9,551      |   |  |   | (3,036     | )
|Gain on remeasurement, sale or write down of assets, net |  |      | (416,821 | ) |      |   | (404,248 | )    |  |   | (1,495,193 | ) |  |   | (354,764   | )
|Income tax expense (benefit)                             |  |      | 722      |   |      |   | (3,223   | )    |  |   | (4,269     | ) |  |   | (1,692     | )
|Distributions on preferred units                         |  |      | 575      |   |      |   | 1,174    |      |  |   | 710        |   |  |   | 735        |  
|                                                         |  |      |          |   |      |   |          |      |  |   |            |   |  |   |            |  
|Adjusted EBITDA                                          |  |      | 902,225  |   |      |   | 888,189  |      |  |   | 797,411    |   |  |   | 801,875    |  
|REIT general and administrative expenses                 |  |      | 28,217   |   |      |   | 29,870   |      |  |   | 29,412     |   |  |   | 27,772     |  
|Costs related to unsolicited takeover offer              |  |      |         |   |      |   | 25,204   |      |  |   |           |   |  |   |           |  
|Management Companies revenues                           |  |      | (39,464  | ) |      |   | (26,254  | )    |  |   | (33,981    | ) |  |   | (40,192    | )
|Management Companies operating expenses                 |  |      | 98,323   |   |      |   | 92,340   |      |  |   | 88,424     |   |  |   | 93,461     |  
|Straight-line and above/below market adjustments         |  |      | (38,309  | ) |      |   | (27,950  | )    |  |   | (18,357    | ) |  |   | (16,780    | )
|                                                         |  |      |          |   |      |   |          |      |  |   |            |   |  |   |            |  
|NOIAll Centers                                          |  |      | 950,992  |   |      |   | 981,399  |      |  |   | 862,909    |   |  |   | 866,136    |  
|NOI of Non-Same Centers                                  |  |      | (98,657  | ) |      |   | (162,204 | )    |  |   | (17,982    | ) |  |   | (128,353   | )
|                                                         |  |      |          |   |      |   |          |      |  |   |            |   |  |   |            |  
|NOISame Centers                                         |  | $    | 852,335  |   |      | $ | 819,195  |      |  | $ | 844,927    |   |  | $ | 737,783    |  
|                                                         |  |      |          |   |      |   |          |      |  |   |            |   |  |   |            |  
|NOISame Centers Percentage Change                       |  |      | 2.73     | % |      |   | 4.96     | %    |  |   | 6.48       | % |  |   | 4.24       | %
|                                                         |  |      |          |   |      |   |          |      |  |   |            |   |  |   |            |