ITEM 7.01 Regulation FD Disclosure

As previously reported, on June 30, 2020, CBL & Associates Limited Partnership (the "Operating Partnership"), the majority owned subsidiary of CBL & Associates Properties, Inc. (the "REIT") (collectively, the Operating Partnership and the REIT are referred to as the "Company"), and certain subsidiary guarantors (the "Subsidiary Guarantors") entered into (i) a Forbearance Agreement with certain beneficial owners and/or investment advisors or managers of discretionary funds, accounts or other entities for the holders of beneficial owners (the "2023 Holders") of in excess of 50% of the aggregate principal amount of the Operating Partnership's 5.25% senior unsecured notes due 2023 (the "2023 Notes"), as amended by the First Amendment to the 2023 Notes Forbearance Agreement, dated July 15, 2020 and the Second Amendment to the 2023 Notes Forbearance Agreement, dated July 22, 2020 (the "2023 Notes Forbearance Agreement"), pursuant to which among other provisions, the 2023 Holders agreed to forbear from exercising any rights and remedies under the indenture governing the 2023 Notes solely with respect to any default resulting from the nonpayment of the $11.8 million interest payment that was due and payable on June 1, 2020 (the "2023 Notes Interest Payment"), including the failure to make such payment by the end of the 30-day grace period and (ii) a Forbearance Agreement with Wells Fargo Bank, National Association, as administrative agent (the "Agent") for the lenders (the "Lenders") party to the Credit Agreement, dated as of January 30, 2019 (as the same may be amended, restated, supplemented, replaced or otherwise modified from time to time, the "Credit Agreement"), as amended by the First Amendment to the Bank Forbearance Agreement, dated July 15, 2020 and the Second Amendment to the Bank Forbearance Agreement, dated July 22, 2020 (the "Bank Forbearance Agreement"), pursuant to which among other provisions, the Agent, on behalf of itself and the Lenders, agreed to forbear from exercising any rights and remedies under the Credit Agreement solely with respect to the Specified Defaults (as defined in the Bank Forbearance Agreement), including the cross-default resulting from the failure to pay the 2023 Notes Interest Payment or the 2026 Notes Interest Payment (as defined herein).

As previously reported, on July 15, 2020, the Operating Partnership, the Subsidiary Guarantors and the REIT, as a limited guarantor entered into a Forbearance Agreement (the "2026 Notes Forbearance Agreement") with certain beneficial owners and/or investment advisors or managers of discretionary funds, accounts or other entities for the holders or beneficial owners (the "2026 Holders") of in excess of 50% of the aggregate principal amount of the Operating Partnership's 5.95% senior unsecured notes due 2026 (the "2026 Notes"), as amended by the First Amendment to the 2026 Notes Forbearance Agreement, dated July 22, 2020, pursuant to which, among other provisions, the 2026 Holders agreed to forbear from exercising any rights and remedies under the indenture governing the 2026 Notes solely with respect to the default resulting from the nonpayment of the $18.6 million interest payment that was due and payable on June 15, 2020 (the "2026 Notes Interest Payment"), including the failure to pay the 2026 Notes Interest Payment by the end of the 30-day grace period.

As previously reported, on July 22, 2020, the respective parties to the 2023 Notes Forbearance Agreement, the 2026 Notes Forbearance Agreement and the Bank Forbearance Agreement, entered into amendments to further extend the forbearance period to July 27, 2020 with respect to the 2023 Notes and the 2026 Notes, and July 29, 2020 with respect to the Credit Agreement and, each agreed to provide for further automatic extension of the forbearance period under such agreement by written notice from the 2023 Holders, the 2026 Holders and the required Lenders, respectively, setting forth the modified date and time of the expiration of the forbearance period.

As previously reported, on July 27, 2020, the Operating Partnership received notice from each of the 2023 Holders and the 2026 Holders respectively extending the forbearance period under each of the 2023 Notes Forbearance Agreement and the 2026 Notes Forbearance Agreement to 11:59 PM EST on July 29, 2020.

As previously reported, on July 29, 2020, (i) the Operating Partnership received notice from each of the 2023 Holders and 2026 Holders respectively extending the forbearance period under each of the 2023 Notes Forbearance Agreement and 2026 Notes Forbearance Agreement to 11:59 PM EST on August 3, 2020 and (ii) the Operating Partnership, Subsidiary Guarantors and the REIT entered into an amendment to the Bank Forbearance Agreement to further extend the forbearance period to 11:59 PM EST on August 5, 2020.

On August 3, 2020, the Operating Partnership received notice from each of the 2023 Holders and 2026 Holders respectively extending the forbearance period under each of the 2023 Notes Forbearance Agreement and the 2026 Notes Forbearance Agreement to 11:59 PM EST on August 5, 2020.

As previously reported, the Company elected to not make the 2023 Notes Interest Payment and the 2026 Notes Interest Payment and, as provided for in the indenture governing the 2023 Notes and the 2026 Notes, to enter the respective 30-day grace periods to make such payments. The Operating Partnership did not make either of the 2023 Notes Interest Payment or the 2026 Notes Interest Payment on the last day of the respective 30-day grace periods. The Operating Partnership's failure to make the 2023 Notes Interest Payment and the 2026 Notes Interest Payment is considered an "event of default" with respect to each of the 2023 Notes and the 2026 Notes, which results in a cross default under the Credit Agreement. While the events of default are continuing under the indenture, the Trustee or the holders of at least 25% in principal amount of the 2023 Notes may declare the 2023 Notes to be due and payable immediately and the Trustee or the holders of at least 25% in principal amount of the 2026 Notes may declare the 2026 Notes to be due and payable immediately. While the events of default are continuing under the Credit Agreement, the Agent may and shall upon the

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direction of the requisite lenders, declare the loans thereunder to be immediately due and payable. Further, if any of the 2023 Notes, the 2026 Notes or the Credit Agreement were accelerated, it would trigger an "event of default" under the Operating Partnership's 4.60% senior unsecured notes due 2024, which could lead to the acceleration of all amounts due under those notes.

The Company is continuing to engage in negotiations and discussions with the holders and lenders of the Company's indebtedness. There can be no assurance, however, that the Company will be able to negotiate acceptable terms or to reach any agreement with respect to its indebtedness.

The information disclosed in this Item 7.01 is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such a filing.

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