EQUITY LIFESTYLE PROPERTIES INC

Equity LifeStyle Properties, Inc. General Equity LifeStyle Properties, Inc. ( ELS or the Company ), a Maryland corporation, together with MHC Operating Limited Partnership (the Operating Partnership ) and its other consolidated subsidiaries (the Subsidiaries ), are referred to herein as we, us, and our . We are a fully integrated owner of lifestyle-oriented properties ( Properties ) consisting of property operations and home sales and rental operations primarily within manufactured home ( MH ) and recreational vehicle ( RV ) communities and marinas. We were formed in December 1992 to continue the property operations, business objectives and acquisition strategies of an entity that had owned and operated Properties since 1969. Mr. Samuel Zell served as Chairman of our Board of Directors (the Board ) from the Company’s initial public offering until his passing in May 2023. Mr. Zell is recognized as a founder of the modern real estate investment trust ( REIT ) industry. Commencing with our taxable year ended December 31, 1993, we have elected to be taxed as a REIT for U.S. federal income tax purposes. We have a unique business model where we own the land which we lease to customers who own manufactured homes and cottages, RVs and/or boats either on a long-term or short-term basis. Our customers may lease individual developed areas ( Sites ) or enter into right-to-use contracts, also known as membership subscriptions, which provide them access to specific Properties for limited stays.