|SUN COMMUNITIES INC filed this Form 8-K on 06/03/2019|
POWERING SUN’S GROWTH ENGINE . Sun is the premier owner and operator of manufactured home (“MH”) and recreational vehicle (“RV”) communities . Strong cycle-tested record of operating, expanding and acquiring MH and RV communities dating back to 1975 INTERNAL EXTERNAL Contractual Rent Increases MH Occupancy Gains Acquisitions . Weighted average monthly rent has . 1Q 2019 MH occupancy of 95.4% . 2015-2019 YTD historical average of historically increased by 2-4% . 157 communities are 98%+ occupied ~$213mm in single asset and small annually portfolio acquisitions . Expect additional 250 - 300 bps of . These rent increases are supported occupancy gains across MH portfolio . Acquired 8 operating properties valued by continued reinvestment into our to reach 98% at $348mm YTD 2019 communities, which preserves . High degree of visibility into the homeowner equity value company’s acquisition pipeline Expansions Transient Conversions Development . Constructed 67 expansion sites in . ~20,000 transient RV sites in . 2-3 greenfield development starts 1Q 2019 portfolio, a portion of which can be per year targeting high single digit . Expected to construct 1,200 – 1,400 converted to annual leases over time IRRs upon stabilization vacant expansion sites in 2019 . 165 total conversions in 1Q 2019 . Projects underway in South . ~6,600 sites available for expansion . Conversions have historically Carolina, Colorado and North in 2020 and beyond increased revenues per site by Carolina 40-60% for the first full year after conversion Source: Company information. Refer to Sun Communities, Inc. Form 10-Q and Supplemental for the quarter ended March 31, 2019 as well as Press Releases after March 31, 2019 for additional information. Refer to information regarding non-GAAP financial measures in the attached Appendix. .