SUI Sun Communities Inc

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Guarantor:

Expected Ratings: (Moody’s / S&P)*

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Optional Redemption:

Redeemable at any time prior to December 15, 2028 in amount equal to the principal amount plus a make-whole premium, using a discount rate of T + 25 bps, plus accrued and unpaid interest.

Redeemable at any time on or after December 15, 2028 in amount equal to the principal amount plus accrued and unpaid interest.

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Joint Book-Running Managers:

Citigroup Global Markets Inc.

J.P. Morgan Securities LLC

BofA Securities, Inc.

BMO Capital Markets Corp.

Citizens JMP Securities, LLC

Fifth Third Securities, Inc.

RBC Capital Markets, LLC

Wells Fargo Securities, LLC

Co-Managers:

Huntington Securities, Inc.

Regions Securities LLC

SMBC Nikko Securities America, Inc.

Truist Securities, Inc.

U.S. Bancorp Investments, Inc.

PNC Capital Markets LLC

Wedbush Securities Inc.

Goldman Sachs & Co. LLC

Scotia Capital (USA) Inc.

Samuel A. Ramirez & Company, Inc.

A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.

The issuer expects that delivery of the notes will be made against payment therefor on or about January 11, 2024, which will be the fifth business day following the date of this pricing term sheet. This settlement cycle is referred to as “T+5.” Under Rule 15c6-1 under the Securities Exchange Act of 1934, as amended, trades in the secondary market generally are required to settle in two business days, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade notes on the date hereof or the next two succeeding business days will be required, by virtue of the fact that the notes initially will settle T+5, to specify an alternate settlement cycle at the time of any such trade to prevent a failed settlement. Purchasers of notes who wish to trade notes on the date hereof or the next two succeeding business days should consult their own advisors.