Sun Communities in its Cooperation Agreement with Land & Buildings

Sun Communities, Inc. (NYSE: SUI) (the “Company” and “Sun”) announced today that Jerry Ehlinger and Craig A. Leupold have joined the Company’s Board of Directors (the “Board”), effective immediately.

In addition, the Board has established a Capital Allocation Committee to review the Company’s use and investment of capital and make recommendations to the full Board. The Committee will be comprised of Mr. Leupold and two other directors to be named.

In connection with these changes to the Board, the Company has entered into a cooperation agreement with Land & Buildings Investment Management LLC, under which Land & Buildings will vote its shares in favor of all of the Board’s director nominees at the 2024 Annual Meeting of Stockholders. Under the cooperation agreement, Land & Buildings has agreed to customary standstill, voting and other provisions.

Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Sun Communities and its Board of Directors.