Sun closes Safe Harbor sale for ~$5.25B net; redeems $900M notes, authorizes $1B buyback, special $4 dividend

SUN COMMUNITIES INC

Initial closing of Safe Harbor sale to Blackstone affiliate; net cash proceeds ~$5.25B.
Redemption of all $500M 5.5% notes due 2029 and $400M 5.7% notes due 2033 on May 10, 2025.
Board authorized $1B stock repurchase program expiring April 30, 2026.
Special one-time cash distribution of $4.00/share payable May 22, 2025 to record May 14, 2025.
Plans to increase quarterly distribution ~10.6% to $1.04/share; expects annualized interest savings ~$160M.

item 2.01 item 7.01 item 8.01 item 9.01

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