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els Equity LifeStyle Properties CONTACT : Paul Seavey ( 800 ) 247-5279 NEWS RELEASE FOR IMMEDIATE RELEASE July 19 , 2021 ELS REPORTS SECOND QUARTER RESULTS Continued Strong Performance ; Guidance Update CHICAGO , IL – July 19 , 2021 - Equity LifeStyle Properties , Inc. ( NYSE : ELS ) ( referred to herein as " we , " " us , " and " our " ) today announced results for the quarter and six months ended June 30 , 2021. All per share results are reported on a fully diluted basis unless otherwise noted . Financial Results for the Quarter and Six Months Ended June 30 , 2021 For the quarter ended June 30 , 2021 , total revenues increased $ 63.3 million , or 24.9 percent , to $ 317.4 million compared to $ 254.1 million for the same period in 2020. For the quarter ended June 30 , 2021 , net income available for Common Stockholders increased $ 14.9 million , or $ 0.08 per Common Share , to $ 61.1 million , or $ 0.33 per Common Share , compared to $ 46.2 million , or $ 0.25 per Common Share , for the same period in 2020 . For the six months ended June 30 , 2021 , total revenues increased $ 78.9 million , or 14.8 percent , to $ 613.5 million compared to $ 534.6 million for the same period in 2020. For the six months ended June 30 , 2021 , net income available for Common Stockholders increased $ 13.2 million , or $ 0.07 per Common Share , to $ 126.3 million , or $ 0.69 per Common Share , compared to $ 113.1 million , or $ 0.62 per Common Share , for the same period in 2020 . Non - GAAP Financial Measures and Portfolio Performance For the quarter ended June 30 , 2021 , Funds from Operations ( “ FFO " ) available for Common Stock and OP Unit holders increased $ 28.1 million , or $ 0.14 per Common Share , to $ 117.6 million , or $ 0.61 per Common Share , compared to $ 89.5 million , or $ 0.47 per Common Share , for the same period in 2020. For the six months ended June 30 , 2021 , FFO available for Common Stock and OP Unit holders increased $ 36.3 million , or $ 0.19 per Common Share , to $ 238.1 million , or $ 1.24 per Common Share , compared to $ 201.8 million , or $ 1.05 per Common Share , for the same period in 2020 . For the quarter ended June 30 , 2021 , Normalized Funds from Operations ( " Normalized FFO " ) available for Common Stock and OP Unit holders increased $ 27.4 million , or $ 0.14 per Common Share , to $ 118.3 million , or $ 0.61 per Common Share , compared to $ 90.9 million , or $ 0.47 per Common Share , for the same period in 2020 . For the six months ended June 30 , 2021 , Normalized FFO available for Common Stock and OP Unit holders increased $ 36.6 million , or $ 0.19 per Common Share , to $ 240.9 million , or $ 1.25 per Common Share , compared to $ 204.3 million , or $ 1.06 per Common Share , for the same period in 2020 . For the quarter ended June 30 , 2021 , property operating revenues , excluding deferrals , increased $ 48.1 million to $ 295.1 million , compared to $ 247.0 million for the same period in 2020. For the six months ended June 30 , 2021 , property operating revenues , excluding deferrals , increased $ 63.7 million to $ 580.4 million , compared to $ 516.7 million for the same period in 2020. For the quarter ended June 30 , 2021 , income from property operations , excluding deferrals and property management , increased $ 27.1 million to $ 166.5 million , compared to $ 139.4 million for the same period in 2020. For the six months ended June 30 , 2021 , income from property operations , excluding deferrals and property management , increased $ 33.5 million to $ 336.8 million , compared to $ 303.3 million for the same period in 2020 . i For the quarter ended June 30 , 2021 , Core property operating revenues , excluding deferrals , increased approximately 14.9 percent and Core income from property operations , excluding deferrals and property