RIVER RUN RANCH – GRANBY, CO OPENED IN JULY 2019 INVESTOR PRESENTATION NOVEMBER 2020

FORWARD-LOOKING STATEMENTS This presentation has been prepared for informational purposes only from information supplied by Sun Communities, Inc., referred to herein as “we,” “our,” and “Sun,” 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, 2019, our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2020 and September 30, 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 win 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; . availability of capital; . changes in foreign currency exchange rates, including between the U.S. dollar and each of the Canadian dollar and the Australian dollar; . our ability to maintain rental rates and occupancy levels; . our failure 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 and wildfires; . general volatility of the capital markets and the market price of shares of our capital stock; . our failure 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. 2

COMPANY HIGHLIGHTS Leading owner and operator of manufactured housing OCEAN BREEZE – MARATHON, FL (“MH”) communities, recreational vehicle (“RV”) resorts, and marinas Favorable demand drivers combined with supply constraints Consistent organic growth enhanced with embedded expansion opportunities SUNSET RIDGE – PORTLAND, MI Industry consolidator with proven value creation from acquisitions SAFE HARBOR SANDUSKY – SANDUSKY, OH ACQUIRED IN OCTOBER 2020 Cycle-tested growth driven by attractive value proposition to residents and guests Focus on exceptional service supported by culture of accountability Proven executive management team with over 100 EAST FORK CROSSING – BATAVIA, OH combined years of industry experience Source: Company information. Refer to Sun Communities, Inc. Form 10-Q and Supplemental for the quarter ended September 30, 2020 as well as Press Releases and SEC Filings after September 30, 2020 for additional information. 3

SUN COMMUNITIES, INC. OVERVIEW (NYSE: SUI) Current Portfolio as of October 31, 2020 532 properties across 38 states and Ontario, Canada Indicative Annual Rental Revenue(2) as of December 31, 2019 RV 28% Marinas 15% Manufactured Housing 57% Property Count Hybrid MH & RV 12% MH Communities RV Resorts Marinas(1) 269 131 33 99 Source: Company information. Refer to Sun Communities, Inc. Form 10-Q and Supplemental for the quarter ended (2) Sun annual rental revenue for manufactured housing and annual and transient RV is included in ‘Income from September 30, 2020 as well as Press Releases and SEC Filings after September 30, 2020 for additional real property’ on its Consolidated Statements of Operations for the twelve months ended December 31, 2019. information. Safe Harbor annual rental revenue reported as ‘Storage,’ ‘Lease,’ and ‘Rentals’ revenue on its Consolidated (1) Does not include eight marinas managed for third parties. Statements of Operations for the twelve months ended December 31, 2019. 4

SUN CONTINUES TO OUTPERFORM OPERATIONALLY… . Positive Operating Momentum Amidst the Pandemic ─ Total portfolio occupancy increased 50bps year-over-year to 97.2% at September 30, 2020 ─ MH and Annual RV rent collections for the third quarter were 97% and 98%, respectively ─ In 3Q, better than expected transient RV revenues, ancillary gross profit and lower property level payroll Resilient Same Community NOI Growth Fueling Growth While Bolstering Our External Growth Through Investment Balance Sheet Execution YTD Through 3Q, Year-over-Year Common Equity Net Debt + Pref. / Net Investments(2) YTD Through 3Q Raised YTD ($ in mm) Recurring EBITDA (TTM) ($ in mm) $1,917 7.5x 4.6% $2,291 5.0x $924 SUI Residential SUI SUI Today REITs at 4Q16 (1) (Cumulative) (1.1%) ($761) SUI Residential (1) SUI Residential REITs REITs (1) (Cumulative) Source: Company information. Refer to Sun Communities, Inc. Form 10-Q and Supplemental for the quarter ended September 30, 2020 as well as Press Releases and SEC Filings after September 30, 2020 for additional information. Refer to information regarding non-GAAP financial measures in the attached Appendix. Note: Market data as of 10/30/2020. (1) Residential REITs include (i) Single Family REITs, AMH and INVH; (ii) Apartment REITs, AIV, AVB, CPT, EQR, ESS, MAA and UDR; (iv) Student Housing, ACC; and (v) ELS. Percentages weighted by equity market cap, where applicable. (2) SUI includes ~$2.0 billion acquisition of Safe Harbor Marinas. Excludes capital improvement and development expenditures. 5

POWERING SUN’S GROWTH ENGINE - INTERNAL . Sun is the premier owner and operator of MH and RV communities . Strong cycle-tested record of operating, expanding and acquiring MH and RV communities dating back to 1975 INTERNAL LEVERS Contractual Rent Increases MH Occupancy Gains 96.4% Annual historical 3Q 2020 MH Occupancy 2% - 4% weighted average monthly rental 79% of MH communities at 98%+ rate increase supported by continual reinvestment into properties 250bps+ existing MH occupancy upside Expansions Transient RV Site Conversions ~200 ~23,700 2020 YTD vacant site deliveries Current transient RV sites ~7,600 ~1,100 sites available for expansion 2020 and beyond average yearly converted sites(1) Target 12% – 14% 40% – 60% expansion IRRs(2) 1st year revenue uplift once converted Source: Company information. Refer to Sun Communities, Inc. Form 10-Q and Supplemental for the quarter ended September 30, 2020 as well as Press Releases and SEC Filings after September 30, 2020 for additional information. Refer to information regarding non-GAAP financial measures in the attached Appendix. (1) 2017-2019 average. (2) Expected 5-year unlevered internal rates of return based on certain assumptions. 6

POWERING SUN’S GROWTH ENGINE - EXTERNAL EXTERNAL LEVERS Acquisitions Development ~$2.3bn Targeting 2 - 4 investment in 11 properties and 99 marinas 2020 YTD new development project starts / year 3.9x increase Target 7% – 9% in properties since year end 2010 ground-up development IRRs(1) High degree of visibility into MH, RV and Marina acquisition ~980 pipeline with additional opportunities arising 2020 YTD ground-up site deliveries in 5 properties OCEAN BREEZE – MARATHON, FL SAFE HARBOR HARBORTOWN – FORT PIERCE, FL ACQUIRED IN OCTOBER 2020 JELLYSTONE PARK AT LARKSPUR – LARKSPUR, CO Source: Company information. Refer to Sun Communities, Inc. Form 10-Q and Supplemental for the quarter ended September 30, 2020 as well as Press Releases and SEC Filings after September 30, 2020 for additional information. Refer to information regarding non-GAAP financial measures in the attached Appendix. (1) Expected 5-year unlevered internal rates of return based on certain assumptions. 7

FINANCIAL HIGHLIGHTS Financial Performance Quarter Ended September 30, YTD Ended September 30, 2020 2019 % Change 2020 2019 % Change Total Revenue $400.5mm $362.4mm 10.5% $1,014.1mm $962.2mm 5.4% Total NOI $221.7mm $196.7mm 12.7% $573.8mm $532.4mm 7.8% Same Community Revenue $243.4mm $231.0mm 5.4% $662.0mm $642.8mm 3.0% Same Community NOI $159.4mm $151.1mm 5.5% $449.3mm $429.7mm 4.6% EPS(1) $0.83 $0.63 31.7% $1.29 $1.49 (13.4)% Core FFO / Share(1) (2) $1.60 $1.46 9.6% $3.94 $3.83 2.9% VINES RV RESORT – PASO ROBLES, CA SUN-N-FUN – SARASOTA, FL Source: Company information. Refer to Sun Communities, Inc. Form 10-Q and Supplemental for the quarter ended September 30, 2020 as well as Press Releases and SEC Filings after September 30, 2020 for additional information. Refer to information regarding non-GAAP financial measures in the attached Appendix. (1) Company information. Diluted. (2) Based on fully diluted shares of 101,628 million and 93,938 million for three months ended September 30, 2020 and September 30, 2019, respectively; and 99,333 million and 91,763 million for nine months ended September 30, 2020 and September 30, 2019, respectively. 8

2020 ACQUISITION & DEVELOPMENT ACTIVITY Investment Activity Summary Acquisitions Ground-up & Redevelopments Expansions CHERRYWOODJELLYSTONE NATURAL – CLINTON, BRIDGE NY – NATURAL BRIDGE, VA RIVER RUN RANCHRV RESORT – GRANBY, – GRANBY, CO CO KING’SSHADOW COURT WOOD – VILLAGETRAVERSE – HUDSON, CITY, MI FL AQUIREDACQUIRED IN INOCTOBER FEBRUARY 2019 2020 OPENEDFIRST PHASE IN JULY OPENED 2019 IN JULY 2019 2 OPENED IN SEPTEMBER 2019 ~$2.3bn purchase price $140mm spend $56mm spend ~41,000 sites added ~980 site deliveries ~200 site deliveries in 110 properties & marinas in 5 properties in 6 properties Robust pipeline of small ~1,000 ground-up site ~7,600 sites available portfolios and single assets deliveries in five properties for expansion in underwriting expected in 2020 in 2020 and beyond Source: Company information. Refer to Sun Communities, Inc. Form 10-Q and Supplemental for the quarter ended September 30, 2020 as well as Press Releases and SEC Filings after September 30, 2020 for additional information. Refer to information regarding non-GAAP financial measures in the attached Appendix. 9

SUN’S FAVORABLE REVENUE DRIVERS . Yearly home move-outs in Sun’s MH communities are less than 1% . Tenure of residents in Sun’s MH communities is approximately 15(1) years . RVs stay in our resorts for approximately 11(1) years SIESTA BAY – FT. MYERS, FL MH Resident Move-out Trends MAJESTIC OAKS – ZEPHYRHILLS, FL (3 Year Average) 6.1% 0.8% Resident Re-sales Resident Move-outs (Home stays in community) (Home leaves community) RV Guest Move-out Trends HOMOSASSA RIVER – HOMOSASSA SPRINGS, FL (3 Year Average) 9.2% 9.5% Resident Re-sales Resident Move-outs (RV stays in resort) (RV leaves resort) WILD ACRES RV RESORT – OLD ORCHARD BEACH, ME Source: Company information. Refer to Sun Communities, Inc. Form 10-Q and Supplemental for the quarter ended September 30, 2020 as well as Press Releases and SEC Filings after September 30, 2020 for additional information. Refer to information regarding non-GAAP financial measures in the attached Appendix. (1) Annual average (2018 - 3Q 2020 annualized). 10

CONSISTENT AND CYCLE TESTED INTERNAL GROWTH . Sun’s average same community NOI growth has exceeded REIT industry average by ~210 bps and the apartment sector’s average by ~200 bps since 1998 . Since 1998, every individual year or rolling 4-quarter period has had positive same community NOI growth Same Community NOI Growth Annual Growth Since 1998 Average Annual Growth Since 1998 5.1% SUI: SUI: + ~200bps + ~210bps 3.1% 3.0% Sun Apartment REIT Industry Communities REITs Source: Citi Investment research, September 2020. “REIT Industry Average” includes an index of REITs across a variety of asset classes including: self storage; mixed office; regional malls; shopping centers; apartments; student housing; manufactured homes and specialty. Refer to information regarding non-GAAP financial measures in the attached Appendix. 11

RENTING - MH VS. OTHER RENTAL OPTIONS . Manufactured homes in Sun’s communities provide 25% more space at ~53% less cost per square foot Manufactured Homes in Other Rental Sun’s Communities1 Options2 PRICE $0.83 per sq. ft.  $1.76 per sq. ft. SQUARE FOOTAGE 1,250 sq. ft.  1,000 sq. ft. RENT $1,032 per month  $1,756 per month (1) Company information. (2) Zillow – U.S. Median Monthly Rent (Zillow rent index, September 2020). Includes multifamily, single family and duplex 2-bedroom rentals. 12

HOMEOWNERSHIP – MH VS. SINGLE FAMILY . Sun’s communities offer affordable options in attractive locations Manufactured Homes Single Family Homes  Average cost of a new Manufactured Home is  Average cost of Single Family is $299,415 or $81,900 or roughly 2 years median income roughly 7 years median income $450,000 Manufactured Homes Portion of purchase price attributable to land Single Family Homes $400,000 $350,000 $300,000 $250,000 $299,415 $293,727 $297,747 $263,256 $272,454 $278,409 $200,000 $249,429 $223,085 $203,182 $206,560 $150,000 $207,950 $100,000 Average Household Income $50,000 (1) $63,100 $62,800 $60,500 $62,200 $64,000 $65,300 $68,000 $70,600 $71,900 $78,500 $81,900 $81,900~$42,000 $- 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Source: U.S. Department of Census, Cost & Size Comparisons of New Manufactured & New Single-Family Site-Built Homes (2009-2019) (1) Average of 2019 primary applicant household income for SUI’s manufactured housing communities. 13

EXPANSIONS PROVIDE ATTRACTIVE RETURNS . Investment in expansion sites boosts growth in highly accretive manner . Sun expands in communities and resorts with high occupancies and continued strong demand 12 – 24 months average lease-up for 100-site expansion $40k - $45k typical per site construction cost EAST FORK CROSSING – BATAVIA, OH Target 12% - 14% IRRs(1) ~200 2020 YTD vacant expansion site deliveries BRANCH CREEK – AUSTIN, TX SHERKSTON SHORES – SHERKSTON, ON Source: Company information. Refer to Sun Communities, Inc. Form 10-Q and Supplemental for the quarter ended September 30, 2020 as well as Press Releases and SEC Filings after September 30, 2020 for additional information. Refer to information regarding non-GAAP financial measures in the attached Appendix. (1) Expected 5-year unlevered internal rates of return based on certain assumptions. 14

MAXIMIZING VALUE FROM STRATEGIC ACQUISITIONS Professional Operational Management Adding Value with Expansions Home Sales & Rental Program Call Center & Digital Marketing Outreach Skilled Expense Management Repositioning with Additional Capex YTD Properties and Sites . Since 2010, Sun has acquired communities valued at approximately $8 billion, increasing its number of communities by 3.9x 183,622 532 141,293 128,454 117,376 121,892 422 371 88,612 350 79,554 341 69,789 63,697 54,811 47,683 217 231 188 159 173 136 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 YTD20 Sites Properties Source: Company information. Refer to Sun Communities, Inc. Form 10-Q and Supplemental for the quarter ended September 30, 2020 as well as Press Releases and SEC Filings after September 30, 2020 for additional information. Refer to information regarding non-GAAP financial measures in the attached Appendix. 15

STRATEGIC BALANCE SHEET . Balance sheet supports growth strategy . No near-term debt maturities with 3.7% of total debt maturing per year through 2024 Mortgage Debt Outstanding Mortgage Debt 5-Year Maturity Ladder principal amounts in thousands amounts in thousands Quarter Ended September 30, 2020 Fannie Mae CMBS Freddie Mac Principal WA $315,330 Outstanding(1) Interest Rates CMBS $268,601 4.79% $185,618 Fannie Mae $887,161 3.40% Life Companies $1,665,445 3.99% $82,155 Freddie Mac $370,173 3.85% $0 $0 Total $3,191,380 3.88% 2020 2021 2022 2023 2024 Net Debt / EBITDA(2) Net Debt / TEV (3) 7.5x 33.8% 6.3x 28.2% 25.2% 5.6x 5.5x 5.0x 19.0% 18.3% 2016 2017 2018 2019 3Q20 2016 2017 2018 2019 3Q20 Source: Company information. Refer to Sun Communities, Inc. Form 10-Q and Supplemental for the quarter ended September 30, 2020 as well as Press Releases and SEC Filings after September 30, 2020 for additional information. Refer to information regarding non-GAAP financial measures in the attached Appendix. (1) Includes premium / discount on debt and financing costs. (2) The debt ratios are calculated using trailing 12 months recurring EBITDA for the period ended September 30, 2020. (3) Total Enterprise Value includes common shares outstanding (per Supplemental), Common OP Units and Preferred OP Units, as converted, outstanding at the end of each respective period. 16

SUN COMMUNITIES’ ESG INITIATIVES . Sun published its inaugural ESG report in late 2019 . We are committed to sustainable business practices to benefit all stakeholders: team members, residents and guests, shareholders and the broader communities where we operate . We will continue to enhance Sun’s sustainability program through the formal adoption of additional environmental policies, establishing a data baseline for utility usage and expanding the ESG team ESG Highlights(1) Environmental Social Governance BoD’s Nominating and Corporate 100% of communities and resorts Sun Unity social responsibility program Governance Committee formally retrofitted with LED lighting oversees all ESG initiatives Replacing 200+ water meters with 100% of Sun regular employees BoD composition is auto-read, real-time systems received safety training 29% female and 71% independent Enterprise Risk Management Committee Launched due diligence process for solar Team members throughout the identifies, monitors and mitigates risks energy program in California communities organization volunteered ~2,700 hours across the organization Installing smart irrigation systems and Comprehensive policies and SunFit Program promotes employee, native flora in all new procedures foster resident and guest wellness ground-up developments sound corporate governance Source: Company information. Refer to Sun Communities, Inc. Form 10-Q and Supplemental for the quarter ended September 30, 2020 as well as Press Releases and SEC Filings after September 30, 2020 for additional information. Refer to information regarding non-GAAP financial measures in the attached Appendix. (1) Performance and initiatives for the 2018 and 2019 reporting years are referenced. 17

STRATEGY-DRIVEN OUTPERFORMANCE . Sun has significantly outperformed major REIT and broader market indices over the last ten years 2020 YTD Total Return 3-year Total Return 20.0% 10.0% 120.0% 0.0% 2.8% 95.0% (10.0%) (6.7)% 70.0% 64.6% (20.0%) (19.3)% 45.0% 34.6% (30.0%) 20.0% (40.0%) (5.0%) (0.7)% (50.0%) (30.0%) 5-year Total Return 10-year Total Return 220.0% 180.0% 800.0% 140.0% 137.2% 600.0% 546.3% 100.0% 400.0% 74.0% 60.0% 239.9% 200.0% 98.8% 20.0% 12.0% 0.0% (20.0%) Sun Communities, Inc. (SUI) S&P 500 MSCI US REIT (RMS) Source: S&P Global as of October 30, 2020. 18

CONSISTENT NOI GROWTH . Manufactured housing is one of the most recession-resistant sectors in real estate and has consistently outperformed multifamily and most sectors in same community NOI growth since 2000 Indexed NOI Growth $253 Sun Communities $242 Manufactured Housing $228 Self-storage $162 Multifamily $153 Industrial $139 Office $131 Shopping Centers $116 Mall YTD Source: Citi Investment research, September 2020. Refer to information regarding non-GAAP financial measures in the attached Appendix. 19

MARINA & SAFE HARBOR OVERVIEW SAFE HARBOR CABRILLO ISLE – SAN DIEGO, CA

ATTRACTIVE INDUSTRY FUNDAMENTALS Supportive Fragmented Industry High Barriers to Entry Demographic Trends . Most marinas are owned by small 1 . The majority of boaters in the United Strict Regulatory Environment mom-and-pop operators States are 55 and older . Regulatory hurdles continue to . . Significant upside from institutional limit new marina construction The aging U.S. population is a management and value-add capex positive trend because boat buyers . Increased scrutiny, approval are concentrated in older, wealthier . The top five operators collectively times and risk of denial demographic groups represent approximately 4% of the . market by marina count 2 Retiring Baby Boomers with Scarcity of Available Land additional leisure time and migration Top 5 . Highly limited stock of desirable to warmer and coastal areas will Operators protected waterways drive greater demand for boating 4% . Marina capacity growth is U.S. Population Above Age 55(1) primarily driven by expansions / (% of Total U.S. Population) reconfigurations (2) 35% Total Marinas 3 in U.S.(1) Capital Intensity 33% ~4,000 . High initial capital investment 30% . Scale is necessary to spread 96% fixed operating costs over a 28% All Other larger base Operators 25% 2015 2020 2025 2030 (1) Source: U.S. Census Bureau. (2) Transaction consideration includes approximately $104.5 million of value ascribed to land and development opportunities. 21

ATTRACTIVE INDUSTRY FUNDAMENTALS (CONT’D) . Fundamentals are strong as a result of the limited supply of new marinas, stable stock of boats and increasing vessel size that may require a marina for storage Marina Supply U.S. Marinas (in 000’s) Slow & Steady Decrease 4.3 4.0 3.8 '04 – '16 CAGR: (0.6%) 3.5 2004 2006 2008 2010 2012 2014 2016 Slip Demand U.S. Target Boat Fleet (17’+) (in mm) Slow & Steady Increase 6.3 '04 – '18 CAGR: 0.3% 6.0 5.8 5.5 2004 2006 2008 2010 2012 2014 2016 2018 Boat Size U.S. Boat Fleet Sizes (in FT) | ’14 – ’19 CAGR Trending Longer & Wider 5.7% 0.9% 0.8% 1.7% 0.8% (0.1%) 0.3% 17'– 31'– 41'– 51'– 61'– 71'– 80'+ 30' 40' 50' 60' 70' 80' Sources: Info-Link, U.S. Coast Guard Recreational Vessel Registration, U.S. Census Bureau and Yachtworld. Note: U.S. Coast Guard boat fleet data available since 2004; U.S. marinas data available through 2016 U.S. Census. 22

SAFE HARBOR IS THE BEST MARINA OPERATOR . Safe Harbor is the largest and most diversified marina owner and operator in the United States 99 30,000 8,000 22 70% 77% 40,000 8.3 Owned Approximate Approximate States of Marinas Located of Marinas Owned Approximate Years Average (1) Marinas Wet Slips Dry Racks(2) in Coastal Markets(3) Fee Simple(4) Members Member Tenure Diversified National Geographic Footprint Unrivaled Among Competitors . No single state accounts for more than 11% of owned marinas(1) Unmatched in scale, portfolio quality . No single marina accounts for more than 6% of total wet slips and depth of network offering (# of owned marinas) 99 29 26 11 Ownership by State 7 < 3 Marinas 3 - 4 Marinas > 4 Marinas Note: Stars on map may indicate locations of more than one marina. (1) As of October 31, 2020, Safe Harbor directly or indirectly owns 99 marinas and manages eight marinas on behalf of third parties. (2) Dry Racks include Indoor Storage. (3) Calculation of marinas located in coastal markets includes those along the Great Lakes. (4) 23 currently owned marinas operate with underlying ground leases with a weighted average remaining term of ~29 years. 23

EXPERIENCED TEAM WITH PROVEN TRACK RECORD . The Safe Harbor team joined Sun Communities and will continue to drive day-to-day operations and identify future marina investment opportunities Experienced Team of Industry Executives Supported by a Deep Bench Operationally-focused Built regional management and Successfully Dedicated M&A team Management equity executives with business development completed and maintains deep stakes and incentives significant marina infrastructure with consistent integrated pipeline of align management with industry experience operational strategy and approach 99 acquisitions acquisition targets Sun shareholders Baxter Underwood Chief Executive Officer Prior experience acquiring and managing Executive Leadership with lifestyle assets Safe Harbor Platform Former CIO of CNL Lifestyle Properties from the Beginning Former Partner at Clapham Capital Growth Execution Control . Acquisitions Chief Operating Officer . Operational improvement . Systems, data management, . Internal legal and audit integrations and training 14 Regional Vice Presidents . Treasury, accounting, FP&A and . Hospitality, marketing and partnerships capital management . Risk and compliance ~1,600 Property-level Team Members . Human resources 24

MARINA SECTOR PIONEER AND CONSOLIDATOR Safe Harbor Portfolio Evolution Same-Marina Performance 2015-2019 CAGR(1) Revenue NOI 3.9% 5.5% (2) Key Transactions(3) 1 2 3 4 5 6 Newport 7 Shipyard/N.E. Flagship CNL Brewer OPC Charleston Boatworks Tri-W 3Q 2015 2Q 2016 1Q 2017 1Q 2018 4Q 2018 4Q 2019 3Q 2020 Date Acquired Date Acquired Date Acquired Date Acquired Date Acquired Date Acquired Date Acquired 7 15 26 3 3 2 5 Marinas Marinas Marinas Marinas Marinas Marinas Marinas 4,717 7,134 7,411 660 401 329 2,251 Slips / Storage Slips / Storage Slips / Storage Slips / Storage Slips / Storage Slips / Storage Slips / Storage Units Units Units Units Units Units Units (1) Represents performance for 33 marinas. (2) Dry Racks include Indoor Storage. (3) Date acquired reflects period in which last marina acquisition closed. 25

ILLUSTRATIVE MARINA REVENUE & MARGIN DETAIL . Approximately 90% of NOI from Safe Harbor comes from recurring sources like wet slip and dry storage rental and service. Recurring Revenue Ancillary Revenue Wet Slip Rental, Dry Storage, Commercial Leases & Service Fuel, F&B, Rental, Retail & Other % of Revenue 83% 17% Margin ~42% ~22% % of NOI 90% 10% Marina Revenue Detail Wet Slip Rental Dry Storage Commercial Leases Service Ancillary Slip rentals are a core Core service provided Space in uplands Full service marinas Amenities provided to service provided to to members; it is buildings typically offer customers end-to- support wet slip and Safe Harbor Members; offered in various leased to third parties end service which dry storage business prices are calculated configurations: dry rack (brokers, restaurants, includes routine within a marina on a linear foot basis & inside / outside / others) maintenance, repair & increased annually heated, open building winterization & covered Source: Company information. Refer to information regarding non-GAAP financial measures in the attached Appendix. Note: Other income includes boat sales, use fees, electric income, environmental impact fees, parking income, brokerage commissions, hauling income and other fee income. 26

RESILIENT REVENUE AND NOI PERFORMANCE . Safe Harbor has minimized COVID-19 related NOI impact through careful cost management 2020 Same-Marina Quarterly Performance(1) Revenue Δ: 3.7% Δ: (8.9%) Δ: 0.1% $97 $98 $88 $80 $58 $60 1Q19 1Q20 2Q19 2Q20 3Q19 3Q20 NOI Δ: 6.2% Δ: 8.3% Δ: 10.8% $38 $42 $32 $35 $18 $19 1Q19 1Q20 2Q19 2Q20 3Q19 3Q20 Note: Figures in millions. Refer to information regarding non-GAAP financial measures in the attached Appendix. (1) Represents performance for 84 marinas. 27

CASE STUDY - OLD PORT COVE MARINA . Since acquiring Old Port Cove Marina for $65mm in 2018, total additional capital invested of $3.3mm and operational improvements made by Safe Harbor management have increased Old Port Cove Marina’s NOI by 58% Old Port Cove Pre-Acquisition Old Port Cove Today Marina complex based in North Palm Refitted as a five-star cruising resort destination Beach, Florida dating back to 1973 better accommodated to mega yachts $5.3mm 8.2% $8.4mm 12.3% TTM Cash NOI(1) Initial Yield(2) TTM Cash NOI Current Yield(2) Invested $3.3mm of Acquisition Capex in marina since ownership. Last major renovations in 2012 and 2007 to outfit Old Port Cove Exceptional management, economies of scale and renovations with a new restaurant, business center, and resupply facilities completed at the end of 2019 have helped boost NOI Refer to information regarding non-GAAP financial measures in the attached Appendix. (1) Based on underwriting when acquired on February 28, 2018. (2) Implied initial yield based on acquisition price of $65 million. Current yield based on cumulative acquisition price and capex investment of ~$68.3 million. 28

APPENDIX EMERALD COAST RV RESORT– PANAMA CITY BEACH, FL

NON-GAAP TERMS DEFINED Investors in and analysts following the real estate industry utilize funds from operations (“FFO”), net operating income (“NOI”), and earnings before interest, tax, depreciation and amortization (“EBITDA”) as supplemental performance measures. The Company believes that FFO, NOI, and EBITDA are appropriate measures given their wide use by and relevance to investors and analysts. Additionally, FFO, NOI, and EBITDA are commonly used in various ratios, pricing multiples, yields and returns and valuation calculations used to measure financial position, performance and value. FFO, reflecting the assumption that real estate values rise or fall with market conditions, principally adjusts for the effects of generally accepted accounting principles (“GAAP”) depreciation and amortization of real estate assets. NOI provides a measure of rental operations that does not factor in depreciation, amortization and non-property specific expenses such as general and administrative expenses. EBITDA provides a further measure to evaluate ability to incur and service debt and to fund dividends and other cash needs. FFO is defined by the National Association of Real Estate Investment Trusts (“NAREIT”) as GAAP net income (loss), excluding gains (or losses) from sales of depreciable operating property, plus real estate- related depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures. FFO is a non-GAAP financial measure that management believes is a useful supplemental measure of the Company’s operating performance. By excluding gains and losses related to sales of previously depreciated operating real estate assets, impairment and excluding real estate asset depreciation and amortization (which can vary among owners of identical assets in similar condition based on historical cost accounting and useful life estimates), FFO provides a performance measure that, when compared period-over-period, reflects the impact to operations from trends in occupancy rates, rental rates, and operating costs, providing perspective not readily apparent from GAAP net income (loss). Management believes the use of FFO has been beneficial in improving the understanding of operating results of REITs among the investing public and making comparisons of REIT operating results more meaningful. The Company also uses FFO excluding certain gain and loss items that management considers unrelated to the operational and financial performance of our core business (“Core FFO”). The Company believes that Core FFO provides enhanced comparability for investor evaluations of period-over-period results. The Company believes that GAAP net income (loss) is the most directly comparable measure to FFO. The principal limitation of FFO is that it does not replace GAAP net income (loss) as a performance measure or GAAP cash flow from operations as a liquidity measure. Because FFO excludes significant economic components of GAAP net income (loss) including depreciation and amortization, FFO should be used as a supplement to GAAP net income (loss) and not as an alternative to it. Further, FFO is not intended as a measure of a REIT’s ability to meet debt principal repayments and other cash requirements, nor as a measure of working capital. FFO is calculated in accordance with the Company’s interpretation of standards established by NAREIT, which may not be comparable to FFO reported by other REITs that interpret the NAREIT definition differently. NOI is derived from revenues minus property operating expenses and real estate taxes. NOI is a non-GAAP financial measure that the Company believes is helpful to investors as a supplemental measure of operating performance because it is an indicator of the return on property investment, and provides a method of comparing property performance over time. The Company uses NOI as a key measure when evaluating performance and growth of particular properties and/or groups of properties. The principal limitation of NOI is that it excludes depreciation, amortization, interest expense and non-property specific expenses such as general and administrative expenses, all of which are significant costs. Therefore, NOI is a measure of the operating performance of the properties of the Company rather than of the Company overall. The Company believes that GAAP net income (loss) is the most directly comparable measure to NOI. NOI should not be considered to be an alternative to GAAP net income (loss) as an indication of the Company’s financial performance or GAAP cash flow from operating activities as a measure of the Company’s liquidity; nor is it indicative of funds available for the Company’s cash needs, including its ability to make cash distributions. Because of the inclusion of items such as interest, depreciation, and amortization, the use of GAAP net income (loss) as a performance measure is limited as these items may not accurately reflect the actual change in market value of a property, in the case of depreciation and in the case of interest, may not necessarily be linked to the operating performance of a real estate asset, as it is often incurred at a parent company level and not at a property level. EBITDA as defined by NAREIT (referred to as “EBITDAre”) is calculated as GAAP net income (loss), plus interest expense, plus income tax expense, plus depreciation and amortization, plus or minus losses or gains on the disposition of depreciated property (including losses or gains on change of control), plus impairment write-downs of depreciated property and of investments in unconsolidated affiliates caused by a decrease in value of depreciated property in the affiliate, and adjustments to reflect the entity’s share of EBITDAre of unconsolidated affiliates. EBITDAre is a non-GAAP financial measure that the Company uses to evaluate its ability to incur and service debt, fund dividends and other cash needs and cover fixed costs. Investors utilize EBITDAre as a supplemental measure to evaluate and compare investment quality and enterprise value of REITs. The Company also uses EBITDAre excluding certain gain and loss items that management considers unrelated to measurement of the Company’s performance on a basis that is independent of capital structure (“Recurring EBITDA”). The Company believes that GAAP net income (loss) is the most directly comparable measure to EBITDAre. EBITDAre is not intended to be used as a measure of the Company’s cash generated by operations or its dividend-paying capacity, and should therefore not replace GAAP net income (loss) as an indication of the Company’s financial performance or GAAP cash flow from operating, investing and financing activities as measures of liquidity. 30

NET INCOME TO FFO RECONCILIATION (amounts in thousands except per share data) Source: Company information. Refer to Sun Communities, Inc. Form 10-Q and Supplemental for the quarter ended September 30, 2020 as well as Press Releases and SEC Filings after September 30, 2020 for additional information. 31

NET INCOME TO NOI RECONCILIATION (amounts in thousands) Source: Company information. Refer to Sun Communities, Inc. Form 10-Q and Supplemental for the quarter ended September 30, 2020 as well as Press Releases and SEC Filings after September 30, 2020 for additional information. 32

NET INCOME TO RECURRING EBITDA RECONCILIATION (amounts in thousands) Source: Company information. Refer to Sun Communities, Inc. Form 10-Q and Supplemental for the quarter ended September 30, 2020 as well as Press Releases and SEC Filings after September 30, 2020 for additional information. 33