CYPRESS GREENS - LAKE ALFRED, FL

INVESTOR PRESENTATION

SEPTEMBER 13, 2021

FORWARD-LOOKINGSTATEMENTS

This presentation has been prepared for informational purposes only from information supplied by Sun Communities, Inc., referred to herein as "we," "our," "Sun," and "the Company," and from third-party sources indicated herein. Such third-party information has not been independently verified. Sun makes no representation or warranty, expressed or implied, as to the accuracy or completeness of such information.

This presentation contains various "forward-looking statements" within the meaning of the United States Securities Act of 1933, as amended, and the United States Securities Exchange Act of 1934, as amended, and we intend that such forward-looking statements will be subject to the safe harbors created thereby. For this purpose, any statements contained in this presentation that relate to expectations, beliefs, projections, future plans and strategies, trends or prospective events or developments and similar expressions concerning matters that are not historical facts are deemed to be forward-looking statements. Words such as "forecasts," "intends," "intend," "intended," "goal," "estimate," "estimates," "expects," "expect," "expected," "project," "projected," "projections," "plans," "predicts," "potential," "seeks," "anticipates," "anticipated," "should," "could," "may," "will," "designed to," "foreseeable future," "believe," "believes," "scheduled," "guidance," "target" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these words. These forward-looking statements reflect our current views with respect to future events and financial performance, but involve known and unknown risks and uncertainties, both general and specific to the matters discussed in this presentation. These risks and uncertainties may cause our actual results to be materially different from any future results expressed or implied by such forward-looking statements. In addition to the risks disclosed under "Risk Factors" contained in our Annual Report on Form 10-K for the year ended December 31, 2020, and our other filings with the Securities and Exchange Commission from time to time, such risks and uncertainties include, but are not limited to:

  • outbreaks of disease, including the COVID-19 pandemic, and related stay-at-home orders, quarantine policies and restrictions on travel, trade and business operations;
  • changes in general economic conditions, the real estate industry, and the markets in which we operate;
  • difficulties in our ability to evaluate, finance, complete and integrate acquisitions, developments and expansions successfully;
  • our liquidity and refinancing demands;
  • our ability to obtain or refinance maturing debt;
  • our ability to maintain compliance with covenants contained in our debt facilities and our senior unsecured notes;
  • availability of capital;
  • changes in foreign currency exchange rates, including between the U.S. dollar and each of the Canadian and Australian dollars;
  • our ability to maintain rental rates and occupancy levels;
  • our ability to maintain effective internal control over financial reporting and disclosure controls and procedures;
  • increases in interest rates and operating costs, including insurance premiums and real property taxes;
  • risks related to natural disasters such as hurricanes, earthquakes, floods, droughts and wildfires;
  • general volatility of the capital markets and the market price of shares of our capital stock;
  • our ability to maintain our status as a REIT;
  • changes in real estate and zoning laws and regulations;
  • legislative or regulatory changes, including changes to laws governing the taxation of REITs;
  • litigation, judgments or settlements;
  • competitive market forces;
  • the ability of purchasers of manufactured homes and boats to obtain financing; and
  • the level of repossessions by manufactured home and boat lenders.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made. We undertake no obligation to publicly update or revise any forward-looking statements included in this presentation, whether as a result of new information, future events, changes in our expectations or otherwise, except as required by law. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. All written and oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by these cautionary statements.

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COMPANY HIGHLIGHTS

Leading owner and operator of manufactured housing ("MH") communities, recreational vehicle ("RV") resorts and marinas

Favorable demand drivers combined

with supply constraints

Consistent organic growth enhanced with

embedded expansion opportunities

Industry consolidator with proven value

creation from acquisitions

Cycle-tested growth driven by attractive value proposition

to residents, members and guests

Focus on exceptional service supported by culture of accountability and empowerment

Proven executive leadership team with over 100

combined years of industry experience

FRIENDLY VILLAGE OF SIMI - SIMI VALLEY, CA

HARBORAGE MARINA - ST. PETERSBURG, FL

Source: Company information. Refer to Sun Communities, Inc. Form 10-Q and Supplemental for the quarter ended June 30, 2021, as well as Press Releases and SEC Filings after June 30, 2021, for additional information.

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SUN COMMUNITIES, INC. OVERVIEW (NYSE: SUI)

Current Portfolio

as of September 13, 2021

Property Count

as of September 13, 2021

583 properties across 38 states, Ontario, Canada

784

1,200

324

9,170

3,379927

5,308

3,440

5,172

146 2,996505

475

3,141

2,379

927 / 2,650

591

2,629

32,504

3,372

5,009

1,536

2,005 / 3,262

413

2,925

3,450 / 410

1,715

2,235 4,146 1,448

3,194

1,852 / 2,110

2,323

219

1,083

545 / 367

2,338

151

2,500

589

1,462

142

1,355

155

572

2,887

9,782

498

280

2,204

46,661

4,486

1,450

and Puerto Rico

(1)

Proforma Rental Revenue Breakdown(2)

Total Number of Sites /

Wet Slips and Dry Storage Spaces: 199,778

Headquarters

MH & RV Sites (155,312)

Marina Wet Slips and Dry Storage Spaces (44,466)

Source: Company information. Refer to Sun Communities, Inc. Form 10-Q and Supplemental for the quarter ended June 30, 2021, as well as Press Releases and SEC Filings after June 30, 2021, for additional information. Refer to information regarding non-GAAP financial measures in the attached Appendix.

(1)

Does not include five marinas managed for third parties.

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(2)

Represents percentage of rental revenue from the leasing of sites, homes, wet slips, dry storage spaces and commercial leases.

YTD 2021 BUSINESS UPDATE

PORTFOLIO PERFORMANCE

  • 2021 full-year Same Community NOI growth guidance range increased by 230 bps to 9.9% - 10.7%
  • Gained 1,097 revenue producing sites YTD
  • Same Community 4th of July Weekend transient RV revenue up 35% & Labor Day Weekend up ~30% compared to same weekends in 2019
  • Total home sales volume increased 90% year-over-year for 2Q
  • 2Q21 brokered home sales volume up 113% compared to 2Q20

EXTERNAL GROWTH

  • ~$1.1bn invested in 11 MH communities, 11 RV resorts and 14 marinas YTD, including ~$479mm since end of 2Q21
  • Disposed of 6 MH properties, total proceeds ~$162mm
  • Opened new ~$58mm, 246 site RV ground-up development, Sun Outdoors San Diego Bay, in San Diego, California
  • Opened first phase of new ~490 site RV ground-up development, Camp Fimfo, in New Braunfels, Texas

SHELTER ISLAND BOATYARD - SAN DIEGO, CA ACQUIRED IN MAY 2021

CAMP FIMFO TEXAS HILL COUNTRY - NEW BRAUNFELS, TX FIRST PHASE OPENED JUNE 2021

Source: Company information. Refer to Sun Communities, Inc. Form 10-Q and Supplemental for the quarter ended June 30, 2021, as well as Press Releases and SEC Filings after June 30, 2021, for additional information. Refer to

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information regarding non-GAAP financial measures in the attached Appendix.

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Sun Communities Inc. published this content on 13 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 September 2021 21:41:02 UTC.