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els Equity LifeStyle Properties CONTACT : Paul Seavey ( 800 ) 247-5279 NEWS RELEASE FOR IMMEDIATE RELEASE April 19 , 2021 ELS REPORTS FIRST QUARTER RESULTS Continued Strong Performance ; Guidance Update CHICAGO , IL – April 19 , 2021 – Equity LifeStyle Properties , Inc. ( NYSE : ELS ) ( referred to herein as " we , ” “ us , ” and “ our ” ) today announced results for the quarter ended March 31 , 2021. All per share results are reported on a fully diluted basis unless otherwise noted . Financial Results for the Quarter Ended March 31 , 2021 For the quarter ended March 31 , 2021 , total revenues increased $ 15.5 million , or 5.5 percent , to $ 296.0 million compared to $ 280.5 million for the same period in 2020. For the quarter ended March 31 , 2021 , net income available for Common Stockholders decreased $ 1.7 million , or $ 0.01 per Common Share , to $ 65.2 million , or $ 0.36 per Common Share , compared to $ 66.9 million , or $ 0.37 per Common Share , for the same period in 2020 . Non - GAAP Financial Measures and Portfolio Performance For the quarter ended March 31 , 2021 , Funds from Operations ( " FFO ” ) available for Common Stock and OP Unit holders increased $ 8.3 million , or $ 0.05 per Common Share , to $ 120.6 million , or $ 0.63 per Common Share , compared to $ 112.3 million , or $ 0.58 per Common Share , for the same period in 2020 . For the quarter ended March 31 , 2021 , Normalized Funds from Operations ( " Normalized FFO " ) available for Common Stock and OP Unit holders increased $ 9.3 million , or $ 0.05 per Common Share , to $ 122.6 million , or $ 0.64 per Common Share , compared to $ 113.3 million , or $ 0.59 per Common Share , for the same period in 2020 . For the quarter ended March 31 , 2021 , property operating revenues , excluding deferrals , increased $ 15.5 million to $ 285.2 million , compared to $ 269.7 million for the same period in 2020. For the quarter ended March 31 , 2021 , income from property operations , excluding deferrals and property management , increased $ 6.4 million to $ 170.3 million , compared to $ 163.9 million for the same period in 2020 . For the quarter ended March 31 , 2021 , Core property operating revenues , excluding deferrals , increased approximately 2.8 percent and Core income from property operations , excluding deferrals and property management , increased approximately 1.9 percent compared to the same period in 2020 . Business Updates Page 1 of this Earnings Release and Supplemental Financial Information provides an update on operations and guidance . i Investment Activity In February 2021 , we completed the acquisition of a portfolio of 11 marinas , containing 3,986 slips and 181 RV sites located in Florida , North Carolina , South Carolina , Kentucky and Ohio . The purchase price of these properties was $ 262.0 million , which was funded with proceeds from the Loan discussed below .