On March 2, 2017, Land & Buildings Investment Management, LLC issued a letter to shareholders of Taubman Centers, Inc. announcing the nomination of 2 director candidates, Charles Elson and Jonathan Litt, for election at the Company’s 2017 annual meeting. In the letter, Land & Buildings expressed its view that new, independent oversight needed to reverse dismal performance, unlock substantial trapped value, and drive comprehensive change at the Company. Land & Buildings stated that it has attempted to privately engage with the Company have been futile and it is now time for shareholders’ voices to be heard in the boardroom. In addition, Land & Buildings stated that its nominees have the right mix of governance expertise and sector experience to address the numerous issues that have persistently plagued the Company.