Equity LifeStyle Properties (ELS) Proxy Filing summary

Executive summary

• The 2026 Annual Meeting will be held virtually on April 28, 2026, with stockholders of record as of February 13, 2026, eligible to vote on key proposals.

• Business highlights include 5-year net income per share growth of 60.8%, FFO per share growth of 8.4%, and a 7.9% dividend increase in 2025.

• The company repaid $86.9 million in secured debt and entered a $240 million unsecured term loan at a 4.74% fixed rate, maturing in 2030.

• Core MH base rental income rose 5.5% and core RV/marina base rental income increased 4.1% in 2025.

Voting matters and shareholder proposals

• Stockholders will vote to elect nine directors, ratify Ernst & Young as independent auditor for 2026, and approve a non-binding advisory vote on executive compensation.

• No stockholder proposals or nominations were received for this meeting.

• Stockholders may amend bylaws by majority vote, except for certain provisions requiring board approval.

Board of directors and corporate governance

• Eight of nine director nominees are independent; the board is diverse in gender and ethnicity.

• Board leadership is separated between chairman and CEO; an independent lead director coordinates with other independent directors.

• Annual board and committee evaluations are conducted, and all directors stand for election each year.

• Stockholders can communicate directly with the lead director; executive sessions of non-management directors are held quarterly.

• No poison pill is in place; proxy access is available.