Sun Communities (SUI) Investor presentation summary

Company highlights

• Leading owner and operator of manufactured housing and RV communities with a high-quality, well-located, and affordable portfolio.

• Strong cash flow generation and consistent long-term NOI growth with a low-leverage, investment-grade balance sheet.

Portfolio overview

• Operates ~179,000 sites across 515 communities, including 295 MH communities (~101,000 sites, 97%+ occupancy) and 166 RV communities (~57,000 sites, ~60% annual sites).

• UK operations include 54 parks with ~22,000 sites, ~80%+ annual sites.

Financial performance and guidance

• Real property NOI is the primary results driver, with MH accounting for ~65% of real property NOI.

• Rental income generates 92% of consolidated NOI for 2025.

• 1Q26 Core FFO per share was $1.40; FY26E Core FFO per share midpoint is $6.97.

• 1Q26 North America same property NOI growth was 6.3%; FY26E guidance is 4.7%.