On February 10, 2022, Equity LifeStyle Properties, Inc. announced the retirement of Roger Maynard as Executive Vice President – Investments effective March 31, 2022. On February 10, 2022, Mr. Maynard and the Company entered into, effective March 31, 2022, a twelve-month consulting agreement which may be extended by the mutual agreement of the parties. Pursuant to the Consulting Agreement, Mr. Maynard will provide services at the request of President and Chief Executive Officer, primarily related to acquisition and development related projects and initiatives.

Under the terms of the Consulting Agreement, the Company will pay Mr. Maynard consulting fees of $83,333 per month and reimbursement of expenses for his services plus an annual bonus opportunity of $200,000. Michael Bailey, Senior Vice President – Investments, will assume the duties of Mr. Maynard with respect to acquisition and investment opportunities. Mr. Bailey joined the Company in 2015.