ELS Reports Second Quarter Results

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, 2014. All per share results are reported on a fully diluted basis unless otherwise noted.

Financial Results for the Quarter Ended June 30, 2014

Normalized Funds from Operations (“Normalized FFO”) increased $5.3 million, or $0.06 per common share, to $57.6 million, or $0.63 per common share, compared to $52.3 million, or $0.57 per common share, for the same period in 2013. Funds from Operations (“FFO”) increased $6.7 million, or $0.07 per common share, to $57.6 million, or $0.63 per common share, compared to $50.8 million, or $0.56 per common share, for the same period in 2013. Net income available for common stockholders increased $7.6 million, or $0.09 per common share, to $25.5 million, or $0.30 per common share, compared to $17.9 million, or $0.21 per common share, for the same period in 2013.

Portfolio Performance

For the quarter ended June 30, 2014, property operating revenues, excluding deferrals, increased $8.9 million to $178.4 million compared to $169.5 million for the same period in 2013. For the six months ended June 30, 2014, property operating revenues, excluding deferrals, increased $19.4 million to $364.8 million compared to $345.4 million for the same period in 2013. For the quarter ended June 30, 2014, income from property operations, excluding deferrals, increased $6.2 million to $100.7 million compared to $94.5 million for the same period in 2013. For the six months ended June 30, 2014, income from property operations, excluding deferrals, increased $12.9 million to $211.6 million compared to $198.7 million for the same period in 2013.

For the quarter ended June 30, 2014, Core property operating revenues increased approximately 2.9 percent and income from Core property operations increased approximately 4.1 percent compared to the same period in 2013. For the six months ended June 30, 2014, Core property operating revenues increased approximately 3.4 percent and income from Core property operations increased approximately 4.1 percent compared to the same period in 2013.

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