October 2026 – Page 6

Sun Communities Reports Results for the Third Quarter of 2026

Posted on October 26, 2026 by Ravi Shankar

Net Income per Diluted Share of $1.00 for the Quarter, inclusive of a Net Loss from Discontinued Operations

Net Income per Diluted Share from Continuing Operations of $1.07 for the Quarter

FFO per Share of $2.27 for the Quarter; Core FFO per Share of $2.35 for the Quarter

Same Property NOI Grew by 3.6% for the Quarter

Same Property Adjusted Blended Occupancy for MH and RV of 98.8%

As Previously Announced, Completed the Sale of the UK Business,

Receiving Net Cash Consideration of Approximately $1.03 billion

Updating Guidance for 2026

Expecting Core FFO per Share of $7.01 at the Midpoint

Expecting North America Same Property NOI Growth of 4.9% – 5.3%

Establishing Preliminary 2027 Full Year Rental Rate Guidance as 5.4% for MH and 4.4% for Annual RV

Southfield, MI, Oct. 26, 2026 (GLOBE NEWSWIRE) — Sun Communities, Inc. (NYSE: SUI) (the “Company” or “SUI”), a real estate investment trust (“REIT”) that owns and operates, or has an interest in, manufactured housing (“MH”) and recreational vehicle (“RV”) communities (collectively, the “properties”), today reported its third quarter results for 2026.

Financial Results for the Quarter and Nine Months Ended September 30, 2026

For the quarter ended September 30, 2026, net income attributable to continuing operations was $137.1 million, or $1.07 per diluted share, compared to a net loss from continuing operations of $53.1 million, or $0.45 per diluted share for the same period in 2025.
For the quarter ended September 30, 2026, net income attributable to common shareholders was $120.7 million, or $1.00 per diluted share, compared to net income attributable to common shareholders of $8.5 million, or $0.07 per diluted share for the same period in 2025.
For the nine months ended September 30, 2026, net income attributable to continuing operations was $197.8 million, or $1.55 per diluted share, compared to a net loss from continuing operations of $104.8 million, or $1.37 per diluted share for the same period in 2025.
For the nine months ended September 30, 2026, net loss attributable to common shareholders was $880.7 million, or $7.14 per diluted share, compared to net income attributable to common shareholders of $1.2 billion, or $9.81 per diluted share for the same period in 2025.

Non-GAAP Financial Measures

Funds from Operations (“FFO”) for the quarter and nine months ended September 30, 2026, was $2.27 and $4.98, respectively, per common share and convertible securities (“Share”), as compared to $2.18 and $4.60 for the same periods in 2025.
Core Funds from Operations (“Core FFO”) for the quarter and nine months ended September 30, 2026, was $2.35 and $5.59, respectively, per common share and convertible securities (“Share”), as compared to $2.28 and $5.28 for the same periods in 2025.
Same Property Net Operating Income (“NOI”) increased by $10.4 million and $38.4 million, or 3.6% and 5.2%, respectively, for the quarter and nine months ended September 30, 2026, as compared to the corresponding periods in 2025.

“We delivered another strong quarter of continued progress, with results exceeding our expectations, led by continued strength in manufactured housing,” said Charles Young, Chief Executive Officer. “In September, we completed the sale of our UK business and have been disciplined in putting the proceeds to work primarily repurchasing shares, along with other investment and balance sheet activity. We are ideally positioned around the durable demand for attainable housing and affordable vacationing, and we continue to optimize our platform while investing in our people, technology and communities. With 2027 expected rental rate increases coming in above 2026 levels, we enter next year with a solid foundation in our core business and Sun is a simpler, more focused company with a clearer path to long-term value creation.”

OPERATING HIGHLIGHTS

Portfolio Occupancy

MH and annual RV sites were 98.2% occupied at September 30, 2026, as compared to 98.4% at September 30, 2025.
During the quarter ended September 30, 2026, the number of MH and annual RV revenue producing sites increased by approximately 100 sites.

Same Property Results

For the properties owned and operated by the Company since at least January 1, 2025, excluding properties classified as discontinued operations, the following table reflects the percentage changes for the quarter and nine months ended September 30, 2026, as compared to the same period in 2025:

	Quarter Ended September 30, 2026						Nine Months Ended September 30, 2026
	MH		RV		Total		MH		RV		Total
Revenue	5.8	%	0.5	%	3.4	%	6.2	%	1.1	%	4.3	%
Expense	2.8	%	3.2	%	3.0	%	3.1	%	2.1	%	2.6	%
NOI	6.9	%	(1.3) %		3.6	%	7.3	%	0.4	%	5.2	%

	As of September 30, 2026
	MH		RV		Total
Number of Properties	282		152		434

Same Property adjusted blended occupancy for MH and RV declined by 50 basis points to 98.8% at September 30, 2026, from 99.3% at September 30, 2025.

INVESTMENT ACTIVITY

Acquisitions

The Company did not acquire any assets during the quarter ended September 30, 2026. Subsequent to quarter end, the Company acquired two MH properties in the Pacific Northwest for total consideration of $79.5 million, inclusive of the issuance of $28.3 million of Series M preferred operating partnership units.

Dispositions

As previously announced, on September 22, 2026, the Company completed the sale of all of the outstanding equity of the subsidiaries through which the Company operates its business in the United Kingdom (collectively, “Park Holidays Sale” or the “UK business”) for cash consideration of approximately £772.3 million (or approximately $1.05 billion). The net proceeds to the Company were approximately $1.03 billion, net of closing costs. As previously discussed, the results of the former UK business through the closing date of the transaction are presented as discontinued operations for all periods presented herein. Unless otherwise noted, the information disclosed in this Earnings Release and Supplemental Package refer only to continuing operations and do not include discussion of balances or activity related to discontinued operations.

In September, the Company sold a portfolio of three RV properties in Florida for total cash consideration of $127.0 million. These properties had been impacted in 2022 by Hurricane Ian.

Refer to page 11 for additional details related to the Company’s acquisition and disposition activity.

BALANCE SHEET AND CAPITAL MARKETS ACTIVITY

As of September 30, 2026, the Company had $3.8 billion in debt outstanding with a weighted average interest rate of 3.3% and a weighted average maturity of 7.1 years. At September 30, 2026, the Company’s Net Debt to trailing twelve-month Recurring EBITDAre ratio was 3.2 times.

Stock Repurchase Program

During the quarter ended September 30, 2026, the Company repurchased approximately 2.4 million shares of the Company’s common stock at an average price of $119.24 per share for a total of $293.3 million. Subsequent to the quarter ended September 30, 2026, through October 23, 2026, the Company repurchased approximately 0.7 million shares of the Company’s common stock at an average price of $113.24 per share for a total of $79.8 million.

Debt Repayments

During the quarter ended September 30, 2026, the Company repaid three mortgage term loans totaling $266.6 million, which unencumbered 17 properties.

2026 GUIDANCE

The Company is updating full-year and establishing fourth quarter 2026 guidance for Diluted EPS and Core FFO per Share and certain other items as set forth below. For the reasons described below, as well as other factors described elsewhere in this earnings release and in the Company’s public reports, the actual results from the Company’s business and operations in such period may differ materially from the Company’s guidance for that period.

	Fourth Quarter Ending December 31, 2026						Full Year Ending December 31, 2026
	Low			High			Low			High
Diluted EPS attributable to the Consolidated Portfolio^(a)	$	0.36		$	0.44		$	(6.65	)	$	(6.57	)
Adjustments from Continuing Operations
Depreciation and amortization		0.97			0.97			3.86			3.86
Asset impairments		—			—			0.28			0.28
Gain on sale of assets		(0.04	)		(0.04	)		(0.09	)		(0.09	)
Gain on sale of properties		—			—			(0.06	)		(0.06	)
Distributions on preferred OP units		0.02			0.02			0.08			0.08
Noncontrolling interest		0.02			0.02			(0.22	)		(0.22	)
Transaction costs and other non-recurring G&A expenses		0.03			0.03			0.27			0.27
(Gain) / loss on foreign currency exchanges		—			—			0.08			0.08
Business interruption insurance income		—			—			0.08			0.08
Other adjustments		0.02			0.02			(0.01	)		(0.01	)
Total Adjustments – Discontinued Operations		—			—			9.35			9.35
Core FFO per Share attributable to the Consolidated Portfolio^(a)	$	1.38		$	1.46		$	6.97		$	7.05

^(a)The diluted share counts for both the quarter and year ending December 31, 2026 are estimated to be 123.4 million and 125.8 million, respectively, which assumes full conversion of all equity participating units, including common and preferred OP units, into the Company’s common stock.

Same Property Portfolio (in millions and %)	FY 2025 Actual Results		Expected Change in 2026
Same Property Portfolio (in millions and %)	FY 2025 Actual Results		October 26, 2026 Update					Prior FY Range
North America (MH and RV)
Revenues from real property	$	1,453.0	4.1	%	–	4.3	%	3.9	%	–	4.6	%
Total property operating expenses		483.7	2.3	%	–	2.5	%	2.5	%	–	2.8	%
Total North America Same Property NOI^(a)	$	969.3	4.9	%	–	5.3	%	4.5	%	–	5.3	%

MH NOI (282 properties)	$	688.3	6.9	%	–	7.2	%	6.1	%	–	6.9	%
RV NOI (152 properties)	$	281.0	0.0	%	–	0.8	%	0.2	%	–	1.8	%

For the fourth quarter ending December 31, 2026, the Company’s guidance range assumes North America Same Property NOI growth of 4.0% – 5.9%.

Consolidated Portfolio Guidance For 2026 (in millions)	FY 2025 Actual Results		FY 2026 Guidance Update as of October 26, 2026
Ancillary NOI	$	27.7	$	23.5
Interest income	$	48.1	$	25.5
Brokerage commissions, income from nonconsolidated affiliates, and other, net^(b)	$	39.2	$	43.0
FFO contribution from North American home sales	$	6.6	$	1.0
General and administrative expenses excluding non-recurring expenses	$	165.8	$	174.5
Interest expense	$	210.7	$	149.0
Current tax expense	$	3.3	$	4.5
Contribution from Discontinued Operations^(d)	$	77.8	$	76.1

Contribution	1Q26		2Q26		3Q26		4Q26
North America Same Property NOI:
MH	25	%	25	%	25	%	25	%
RV	17	%	25	%	39	%	19	%
Total	22	%	25	%	29	%	24	%

Home Sales FFO – North America	0	%	16	%	69	%	15	%
Consolidated Ancillary NOI	(12	)%	34	%	74	%	4	%
Consolidated EBITDAre	20	%	25	%	33	%	22	%
Core FFO per Share^(c)	20	%	26	%	33	%	21	%

Preliminary 2027 Rental Rate Increase

The Company expects to realize the following rental rate increases, on average, during 2027:

Average 2027 Rental Rate Increases Expected
MH	5.4	%
Annual RV	4.4	%

Footnotes to Supplemental Guidance Tables:
(a)	Total North America Same Property results net $95.6 million and $102.6 million of utility revenue against the related utility expense in property operating expenses for 2025 results and 2026 guidance, respectively.
(b)	Brokerage commissions and other, net includes approximately $13.8 million and $10.1 million of business interruption income, and $16.4 million and $23.7 million of income from nonconsolidated affiliates for full year 2025 results and 2026 guidance, respectively. The business interruption income includes the pro rata recognition of the lump sum insurance settlement that was received during the quarter ended December 31, 2025.
(c)	Assumes full conversion of all equity participating units, including common and preferred OP units, into the Company’s common stock.
(d)	The Contribution from Discontinued Operations includes the entire net contribution from the UK Business through the closing of the sale on September 22, 2026, inclusive of Real Property NOI, Home Sales FFO, Brokerage and Other, General and Administrative Expenses excluding non-recurring items, Interest Expense, and Current Tax Expense.

The estimates and assumptions presented above represent a range of possible outcomes and may differ materially from actual results. These estimates include contributions from all acquisitions, dispositions and capital markets activity completed through October 26, 2026. These estimates exclude all other prospective acquisitions, dispositions and capital markets activity. The estimates and assumptions are forward-looking based on the Company’s current assessment of economic and market conditions and are subject to the other risks outlined below under the caption Cautionary Statement Regarding Forward-Looking Statements.

EARNINGS CONFERENCE CALL

A conference call to discuss third quarter results will be held on Tuesday, October 27, 2026 at 11:00 A.M. (ET). The live audio webcast and replay of the conference call will be available on the Company’s website located at www.suninc.com in the Investors & Media section under Event Calendar.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This press release contains various “forward-looking statements” within the meaning of the Securities Act of 1933, as amended (the “Securities Act”), and the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the Company intends that such forward-looking statements will be subject to the safe harbors created thereby. For this purpose, any statements contained in this document that relate to expectations, beliefs, projections, future plans and strategies, trends or prospective events or developments, and similar expressions concerning matters that are not historical facts are deemed to be forward-looking statements. Words such as “forecasts,” “intend,” “goal,” “estimate,” “expect,” “project,” “projections,” “plans,” “predicts,” “potential,” “seeks,” “anticipates,” “should,” “could,” “may,” “will,” “designed to,” “foreseeable future,” “believe,” “scheduled,” “guidance,” “target,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these words. These forward-looking statements reflect the Company’s current views with respect to future events and financial performance, but involve known and unknown risks, uncertainties, and other factors, both general and specific to the matters discussed in this document, some of which are beyond the Company’s control. These risks, uncertainties, and other factors may cause the Company’s actual results to be materially different from any future results expressed or implied by such forward-looking statements. In addition to the risks described under “Risk Factors” contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, in Item 8.01 of the Company’s Current Report on Form 8-K filed May 21, 2026, in Part II, Item 1A. in the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, and in the Company’s other filings with the Securities and Exchange Commission, from time to time, such risks, uncertainties and other factors include, but are not limited to:

∙	The final costs, adjustments, and net proceeds related to the completed sale of Park Holidays;
∙	The Company’s ability to realize the anticipated benefits of the completed sale of Park Holidays, including with respect to the intended use of proceeds;
∙	The Company’s ability to deploy the proceeds from the Park Holidays Sale in a timely and value-accretive manner;
∙	The Company’s liquidity and refinancing demands;
∙	The Company’s ability to obtain or refinance maturing debt;
∙	The Company’s ability to maintain compliance with covenants contained in its debt facilities and its unsecured notes;
∙	Availability of capital;
∙	General volatility of the capital markets and the market price of shares of the Company’s capital stock;
∙	The timing, manner, and amount of any repurchases under the Company’s share repurchase program;
∙	Increases in interest rates and operating costs, including insurance premiums, real estate taxes, and utilities;
∙	Difficulties in the Company’s ability to evaluate, finance, complete and integrate acquisitions, developments and expansions successfully;
∙	Competitive market forces;
∙	The ability of purchasers of manufactured homes to obtain financing;
∙	The level of repossessions of manufactured homes;
∙	The Company’s ability to maintain effective internal control over financial reporting and disclosure controls and procedures;
∙	Expectations regarding the amount or frequency of impairment losses;
∙	Changes in general economic conditions, including inflation, deflation, energy costs, the real estate industry, the effects of tariffs or threats of tariffs, wars or other international conflicts, trade wars, immigration issues, supply chain disruptions, and the markets within which the Company operates;
∙	The Company’s ability to maintain its status as a REIT;
∙	Changes in real estate and zoning laws and regulations;
∙	The Company’s ability to maintain rental rates and occupancy levels, and to implement and realize anticipated future rental rate increases, including as a result of rent control, rent stabilization, or similar legislative or regulatory limitations on the amount, frequency, or timing of rent increases;
∙	Legislative or regulatory changes, including changes to laws governing the taxation of REITs;
∙	Outbreaks of disease and related restrictions on business operations;
∙	Risks related to natural disasters such as hurricanes, earthquakes, floods, droughts, and wildfires; and
∙	Litigation, judgments or settlements, including costs associated with prosecuting or defending claims and any adverse outcomes.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements included or incorporated by reference into this document, whether as a result of new information, future events, changes in the Company’s expectations or otherwise, except as required by law.

Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee future results, levels of activity, performance or achievements. All written and oral forward-looking statements attributable to the Company or persons acting on the Company’s behalf are qualified in their entirety by these cautionary statements.

Company Overview and Investor Information

The Company

Established in 1975, Sun Communities, Inc. became a publicly owned corporation in December 1993. The Company is a fully integrated REIT listed on the New York Stock Exchange under the symbol: SUI. As of September 30, 2026, the Company owned, operated, or had an interest in a portfolio of 452 developed MH and RV properties comprising approximately 153,520 developed sites in the U.S. and Canada.

For more information about the Company, please visit www.suninc.com.

Company Contacts
Investor Relations
Sara Ismail, Senior Vice President
(248) 208-2500
investorrelations@suncommunities.com

Corporate Debt Ratings
Moody’s	Baa2 \| Stable
S&P	BBB+ \| Stable

Portfolio Overview as of September 30, 2026

	MH & RV Properties
	Properties	MH & Annual RV			Transient RV Sites	Total Sites
Location	Properties	Sites	Occupancy %		Transient RV Sites	Total Sites
Florida	122	41,140	97.7	%	3,570	44,710
Michigan	90	34,450	98.2	%	480	34,930
California	36	7,020	99.7	%	1,740	8,760
Texas	28	9,310	97.7	%	1,420	10,730
Connecticut	16	1,910	97.0	%	90	2,000
Maine	14	2,540	97.6	%	770	3,310
New Jersey	13	3,660	99.9	%	840	4,500
Arizona	11	4,160	97.7	%	850	5,010
Colorado	11	2,930	94.3	%	940	3,870
Indiana	10	2,820	99.1	%	990	3,810
Maryland	10	920	98.9	%	1,370	2,290
New York	9	1,590	99.3	%	1,020	2,610
Other	82	19,790	98.9	%	7,200	26,990
Total Portfolio	452	132,240	98.2	%	21,280	153,520

Financial and Operating Highlights
($ in millions, except Per Share amounts)

	Quarters Ended
	9/30/2026			6/30/2026			3/31/2026			12/31/2025			9/30/2025
Financial Information
Basic earnings / (loss) per share from continuing operations	$	1.07		$	0.65		$	0.13		$	0.88		$	(0.45	)
Basic earnings / (loss) per share from discontinued operations		(0.07	)		(8.71	)		(0.20	)		0.11			0.52
Basic earnings / (loss) per share	$	1.00		$	(8.06	)	$	(0.07	)	$	0.99		$	0.07
Diluted earnings / (loss) per share from continuing operations	$	1.07		$	0.32		$	0.13		$	0.88		$	(0.45	)
Diluted earnings / (loss) per share from discontinued operations		(0.07	)		(8.40	)		(0.20	)		0.11			0.52
Diluted earnings / (loss) per share	$	1.00		$	(8.08	)	$	(0.07	)	$	0.99		$	0.07

Cash distributions declared per common share	$	1.12		$	1.12		$	1.12		$	1.04		$	1.04

FFO per Share^(a)	$	2.27		$	1.77		$	0.95		$	2.15		$	2.18
Core FFO per Share^(a)	$	2.35		$	1.84		$	1.40		$	1.40		$	2.28

Real Property NOI^(a)
MH	$	187.0		$	186.5		$	185.7		$	178.8		$	171.8
RV		115.6			74.1			50.7			53.3			115.5
Total	$	302.6		$	260.6		$	236.4		$	232.1		$	287.3

Recurring EBITDAre^(a)	$	327.6		$	264.4		$	195.2		$	206.2		$	335.7
TTM Recurring EBITDAre / Interest^(a)	6.7 x			6.6 x			6.0 x			4.9 x			4.4 x
Net Debt / TTM Recurring EBITDAre^(a)	3.2 x			3.9 x			3.7 x			3.4 x			3.3 x

Balance Sheet
Total assets	$	9,819.7		$	10,867.6		$	12,358.8		$	12,522.9		$	12,800.3
Total debt	$	3,776.2		$	4,052.2		$	4,246.2		$	4,258.7		$	4,271.7
Total liabilities	$	4,342.1		$	5,090.0		$	5,299.1		$	5,194.4		$	5,438.0

Operating Information
Properties
MH		295			295			295			294			284
RV		157			160			166			166			164
Total		452			455			461			460			448

Sites
MH		100,250			100,860			100,830			100,150			97,070
Annual RV		31,990			32,510			32,730			33,330			32,480
Transient		21,280			22,760			23,820			23,550			23,560
Total sites		153,520			156,130			157,380			157,030			153,110

Occupancy
MH		97.6	%		97.3	%		97.1	%		97.2	%		97.9	%
Annual RV		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%
Blended MH and annual RV		98.2	%		97.9	%		97.8	%		97.9	%		98.4	%

MH and RV Revenue Producing Site Net Gains^(a)
MH leased sites, net		46			157			16			178			152
RV leased sites, net		52			91			(324	)		(37	)		371
Total leased sites, net		98			248			(308	)		141			523

^(a)Refer to Definition and Notes for additional information.

Condensed Consolidated Balance Sheets
($ in millions)

	September 30, 2026			December 31, 2025
Assets
Land	$	1,787.9		$	1,810.5
Land improvements and buildings		8,646.7			8,699.2
Rental homes and improvements		1,024.4			940.2
Furniture, fixtures and equipment		690.3			674.3
Investment property		12,149.3			12,124.2
Accumulated depreciation		(3,769.3	)		(3,505.7	)
Investment property, net		8,380.0			8,618.5
Cash, cash equivalents and restricted cash^(a)		699.3			606.7
Inventory of manufactured homes		72.2			84.7
Notes and other receivables, net		289.2			262.9
Collateralized receivables, net^(a)		37.6			43.2
Goodwill		9.5			9.5
Other intangible assets, net		32.4			36.7
Other assets, net		299.5			309.2
Assets held for sale and discontinued operations, net^(a)		—			2,551.5
Total Assets	$	9,819.7		$	12,522.9
Liabilities
Mortgage loans payable	$	1,950.2		$	2,429.0
Secured borrowings on collateralized receivables^(a)		37.6			43.2
Unsecured debt		1,788.4			1,786.5
Distributions payable		137.1			131.1
Advanced reservation deposits and rent		135.9			125.9
Accrued expenses and accounts payable		219.4			178.3
Other liabilities		73.5			73.2
Liabilities held for sale and discontinued operations, net^(a)		—			427.2
Total Liabilities		4,342.1			5,194.4
Commitments and contingencies
Temporary equity		181.3			255.7
Shareholders’ Equity
Common stock		1.2			1.2
Additional paid-in capital		9,307.8			9,563.1
Accumulated other comprehensive income		0.1			26.5
Distributions in excess of accumulated earnings		(4,086.1	)		(2,634.7	)
Total SUI Shareholders’ Equity		5,223.0			6,956.1
Noncontrolling interests		73.3			116.7
Total Shareholders’ Equity		5,296.3			7,072.8
Total Liabilities, Temporary Equity and Shareholders’ Equity	$	9,819.7		$	12,522.9

^(a)Refer to Definitions and Notes for additional information.

Condensed Consolidated Statements of Operations
($ in millions, except for per share amounts)

	Quarter Ended September 30,								Nine Months Ended September 30,
		2026			2025		% Change			2026			2025		% Change
Revenues
Real property (excluding transient)^(a)	$	375.1		$	350.8		6.9	%	$	1,087.8		$	1,008.7		7.8	%
Real property – transient		103.5			106.3		(2.6) %			193.0			198.5		(2.8) %
Home sales		31.8			37.8		(15.9) %			86.1			108.3		(20.5) %
Ancillary		38.2			40.6		(5.9) %			71.3			74.4		(4.2) %
Interest		5.6			17.1		(67.3) %			19.0			37.9		(49.9) %
Brokerage commissions and other, net		4.0			3.3		21.2	%		9.0			18.2		(50.5) %
Total Revenues		558.2			555.9		0.4	%		1,466.2			1,446.0		1.4	%
Expenses
Property operating and maintenance^(a)		148.9			143.3		3.9	%		399.2			383.4		4.1	%
Real estate tax		27.1			26.5		2.3	%		82.0			77.8		5.4	%
Home costs and selling		28.0			30.8		(9.1) %			77.4			90.3		(14.3) %
Ancillary		22.2			21.8		1.8	%		48.5			48.6		(0.2) %
General and administrative		48.9			46.2		5.8	%		157.4			143.8		9.5	%
Catastrophic event-related charges, net		0.2			0.8		(75.0) %			1.5			1.1		36.4	%
Depreciation and amortization		125.7			115.3		9.0	%		371.0			347.3		6.8	%
Asset impairments^(a)		17.2			165.9		(89.6) %			35.4			223.3		(84.1) %
Loss on extinguishment of debt		0.1			1.6		(93.8) %			0.1			104.0		(99.9) %
Interest		38.3			39.5		(3.0) %			114.8			172.4		(33.4) %
Total Expenses		456.6			591.7		(22.8) %			1,287.3			1,592.0		(19.1) %
Income / (Loss) Before Other Items		101.6			(35.8	)	N/M			178.9			(146.0	)	N/M
Gain / (loss) on foreign currency exchanges		0.7			(22.6	)	N/M			(9.9	)		25.5		N/M
Gain / (loss) on disposition of properties		28.9			(1.0	)	N/M			8.0			(3.1	)	N/M
Other income, net^(a)		1.0			0.2		N/M			9.4			12.8		(26.6) %
Loss on remeasurement of note receivable		(1.7	)		—		N/A			(4.5	)		(1.6	)	181.3	%
Income from nonconsolidated affiliates		7.4			4.3		72.1	%		19.6			11.1		76.6	%
Gain / (loss) on remeasurement of investment in non-consolidated affiliates		0.3			0.4		(25.0) %			(1.2	)		(1.1	)	9.1	%
Current tax benefit / (expense)		(1.6	)		0.5		N/M			(3.1	)		(3.3	)	(6.1) %
Deferred tax benefit		0.5			0.9		(44.4) %			0.6			0.9		(33.3) %
Net Income / (Loss) from Continuing Operations		137.1			(53.1	)	N/M			197.8			(104.8	)	N/M
Income / (loss) from discontinued operations, net^(a)		(9.3	)		64.0		N/M			(1,101.2	)		1,404.4		N/M
Net Income / (Loss)		127.8			10.9		N/M			(903.4	)		1,299.6		N/M
Less: Preferred return to preferred Operating Partnership (“OP”) units / equity interests		2.5			3.2		(21.9) %			7.7			9.5		(18.9) %
Less: Income / (loss) attributable to noncontrolling interests		4.6			(0.8	)	N/M			(30.4	)		50.8		N/M
Net Income / (Loss) Attributable to SUI Common Shareholders	$	120.7		$	8.5		N/M		$	(880.7	)	$	1,239.3		N/M

Weighted average common shares outstanding – basic^(a)		120.8			123.9		(2.5) %			122.0			125.6		(2.9) %
Weighted average common shares outstanding – diluted^(a)		123.2			124.1		(0.7) %			126.7			125.6		0.9	%

Basic earnings / (loss) per share from continuing operations	$	1.07		$	(0.45	)	N/M		$	1.85		$	(1.37	)	N/M
Basic earnings / (loss) per share from discontinued operations		(0.07	)		0.52		N/M			(9.03	)		11.18		N/M
Basic earnings / (loss) per share	$	1.00		$	0.07		N/M		$	(7.18	)	$	9.81		N/M

Diluted earnings / (loss) per share from continuing operations	$	1.07		$	(0.45	)	N/M		$	1.55		$	(1.37	)	N/M
Diluted earnings / (loss) per share from discontinued operations		(0.07	)		0.52		N/M			(8.69	)		11.18		N/M
Diluted earnings / (loss) per share	$	1.00		$	0.07		N/M		$	(7.14	)	$	9.81		N/M

^(a) Refer to Definitions and Notes for additional information. N/M = Not meaningful. N/A = Not applicable.

Reconciliation of Net Income / (Loss) Attributable to SUI Common Shareholders to Core FFO
($ in millions, except for per share data)

	Quarter Ended September 30,						Nine Months Ended September 30,
		2026			2025			2026			2025
Net Income / (Loss) Attributable to SUI Common Shareholders	$	120.7		$	8.5		$	(880.7	)	$	1,239.3
Adjustments
Depreciation and amortization – continuing operations		124.1			114.2			366.2			345.6
Depreciation and amortization – discontinued operations		—			9.9			17.1			63.5
Depreciation on nonconsolidated affiliates		0.4			0.2			1.0			0.6
Asset impairments – continuing operations^(a)		17.2			165.9			35.4			223.3
Asset impairments – discontinued operations		—			—			—			135.0
Loss on classification to held for sale – discontinued operations^(a)		50.6			—			1,127.8			—
(Gain) / loss on remeasurement of investment in nonconsolidated affiliates		(0.3	)		(0.4	)		1.2			1.1
Loss on remeasurement of notes receivable		1.7			—			4.5			1.6
(Gain) / loss on dispositions of properties, including tax effect – continuing operations		(28.9	)		(0.6	)		(8.0	)		3.1
Gain on dispositions of properties, including tax effect – discontinued operations		(5.0	)		(13.5	)		(3.3	)		(1,458.2	)
Add: Returns on preferred OP units / equity interests		2.5			3.1			7.7			9.3
Add: Income / (loss) attributable to noncontrolling interests		4.6			(0.9	)		(30.4	)		50.8
Gain on disposition of assets, net – continuing operations		(2.6	)		(3.3	)		(7.3	)		(11.0	)
Gain on disposition of assets, net – discontinued operations		(0.1	)		(0.6	)		(0.5	)		(0.8	)
FFO^(a)(c)(d)		284.9			282.5			630.7			603.2
Adjustments
Acquisition and other transaction costs – continuing operations^(a)		1.8			2.1			5.2			15.7
Acquisition and other transaction costs – discontinued operations^(a)		4.2			0.6			19.6			66.2
Loss on extinguishment of debt		0.1			1.6			0.1			104.0
Catastrophic event-related charges, net		0.2			0.8			1.5			1.1
Loss of earnings – catastrophic event-related charges, net^(a)		3.2			4.2			9.6			2.5
(Gain) / loss on foreign currency exchanges – continuing operations		(0.7	)		22.6			9.9			(25.5	)
Loss on foreign currency exchanges – discontinued operations		—			—			0.7			—
Deferred tax benefit – continuing operations		(0.5	)		(0.9	)		(0.6	)		(0.9	)
Deferred tax (benefit) / expense – discontinued operations		—			(1.2	)		3.9			(38.5	)
Other adjustments, net – continuing operations^(a)		1.7			1.0			15.2			(5.9	)
Other adjustments, net – discontinued operations^(a)		—			(18.9	)		12.2			(28.6	)
Core FFO^(a)(b)(c)(d)	$	294.9		$	294.4		$	708.0		$	693.3

Weighted Average Common Shares and OP Units Outstanding^(a)(b)		125.3			129.3			126.7			131.2
FFO per Share^(a)(b)(c)(d)	$	2.27		$	2.18		$	4.98		$	4.60
Core FFO per Share^(a)(b)(c)(d)	$	2.35		$	2.28		$	5.59		$	5.28

^(a) Refer to Definitions and Notes for additional information.
^(b) Assumes full conversion of all equity participating units, including common and preferred OP units, into the Company’s common stock.
^(c)FFO and Core FFO include discontinued operations activity of $36.3 million or $0.29 per Share, and $40.5 million or $0.32 per Share, respectively, during the quarter ended September 30, 2026, and $59.9 million or $0.46 per Share, and $40.5 million or $0.31 per Share, respectively, during the quarter ended September 30, 2025.
^(d) FFO and Core FFO include discontinued operations activity of $39.9 million or $0.31 per Share, and $76.3 million or $0.60 per Share, respectively, during the nine months ended September 30, 2026, and $143.9 million or $1.10 per Share, and $143.1 million or $1.09 per Share, respectively, during the nine months ended September 30, 2025.

Reconciliation of Net income / (Loss) Attributable to SUI Common Shareholders to NOI
($ in millions)

	Quarter Ended September 30,						Nine Months Ended September 30,
		2026			2025			2026			2025
Net Income / (Loss) Attributable to SUI Common Shareholders	$	120.7		$	8.5		$	(880.7	)	$	1,239.3
Interest income		(5.6	)		(17.1	)		(19.0	)		(37.9	)
Brokerage commissions and other revenues, net		(4.0	)		(3.3	)		(9.0	)		(18.2	)
General and administrative		48.9			46.2			157.4			143.8
Catastrophic event-related charges, net		0.2			0.8			1.5			1.1
Depreciation and amortization		125.7			115.3			371.0			347.3
Asset impairments		17.2			165.9			35.4			223.3
Loss on extinguishment of debt		0.1			1.6			0.1			104.0
Interest expense		38.3			39.5			114.8			172.4
(Gain) / loss on foreign currency exchanges		(0.7	)		22.6			9.9			(25.5	)
(Gain) / loss on disposition of properties		(28.9	)		1.0			(8.0	)		3.1
Other income, net^(a)		(1.0	)		(0.2	)		(9.4	)		(12.8	)
Loss on remeasurement of notes receivable		1.7			—			4.5			1.6
Income from nonconsolidated affiliates		(7.4	)		(4.3	)		(19.6	)		(11.1	)
(Gain) / loss on remeasurement of investment in nonconsolidated affiliates		(0.3	)		(0.4	)		1.2			1.1
Current tax (benefit) / expense		1.6			(0.5	)		3.1			3.3
Deferred tax benefit		(0.5	)		(0.9	)		(0.6	)		(0.9	)
Net (income) / loss from discontinued operations, net		9.3			(64.0	)		1,101.2			(1,404.4	)
Add: Preferred return to preferred OP units / equity interests		2.5			3.2			7.7			9.5
Add: Income / (loss) attributable to noncontrolling interests		4.6			(0.8	)		(30.4	)		50.8
NOI^(a)	$	322.4		$	313.1		$	831.1		$	789.8

	Quarter Ended September 30,				Nine Months Ended September 30,
		2026		2025		2026		2025
Real property NOI^(a)	$	302.6	$	287.3	$	799.6	$	746.0
Home sales NOI^(a)		3.8		7.0		8.7		18.0
Ancillary NOI^(a)		16.0		18.8		22.8		25.8
NOI^(a)	$	322.4	$	313.1	$	831.1	$	789.8

^(a) Refer to Definitions and Notes for additional information.

Reconciliation of Net Income / (Loss) Attributable to SUI Common Shareholders to Recurring EBITDAre
($ in millions)

	Quarter Ended September 30,						Nine Months Ended September 30,
		2026			2025			2026			2025
Net Income / (Loss) Attributable to SUI Common Shareholders	$	120.7		$	8.5		$	(880.7	)	$	1,239.3
Adjustments
Depreciation and amortization – continuing operations		125.7			115.3			371.0			347.3
Depreciation and amortization – discontinued operations		—			11.1			18.9			66.3
Asset impairments – continuing operations^(a)		17.2			165.9			35.4			223.3
Asset impairments – discontinued operations		—			—			—			135.0
Loss on classification to held for sale – discontinued operations^(a)		50.6			—			1,127.8			—
Loss on extinguishment of debt		0.1			1.6			0.1			104.0
Interest expense – continuing operations		38.3			39.5			114.8			172.4
Interest expense – discontinued operations		0.1			2.0			0.3			9.4
Current tax (benefit) / expense – continuing operations		1.6			(0.5	)		3.1			3.3
Current tax expense – discontinued operations		4.0			6.0			7.3			10.8
Deferred tax benefit – continuing operations		(0.5	)		(0.9	)		(0.6	)		(0.9	)
Deferred tax (benefit) / expense – discontinued operations		—			(1.2	)		3.9			(38.5	)
Income from nonconsolidated affiliates		(7.4	)		(4.3	)		(19.6	)		(11.1	)
Less: (Gain) / loss on dispositions of properties – continuing operations		(28.9	)		1.0			(8.0	)		3.1
Less: (Gain) / loss on dispositions of properties – discontinued operations		(5.0	)		(15.1	)		(3.3	)		(1,459.8	)
Less: Gain on dispositions of assets, net – continuing operations		(2.6	)		(3.3	)		(7.3	)		(11.0	)
Less: Gain on dispositions of assets, net – discontinued operations		(0.1	)		(0.6	)		(0.5	)		(0.8	)
EBITDAre^(a)(b)		313.8			325.0			762.6			792.1
Adjustments
Transaction costs – discontinued operations^(a)(c)		4.1			0.5			19.0			63.1
Catastrophic event-related charges, net		0.2			0.8			1.5			1.1
(Gain) / loss on foreign currency exchanges – continuing operations		(0.7	)		22.6			9.9			(25.5	)
Loss on foreign currency exchanges – discontinued operations^(a)		—			—			0.7			—
Other income, net – continuing operations^(a)		(1.0	)		(0.2	)		(9.4	)		(12.8	)
Other (income) / expense, net – discontinuing operations^(a)		—			(18.9	)		12.1			(29.1	)
Loss on remeasurement of notes receivable		1.7			—			4.5			1.6
(Gain) / loss on remeasurement of investment in nonconsolidated affiliates		(0.3	)		(0.4	)		1.2			1.1
Add: Preferred return to preferred OP units / equity interests		2.5			3.2			7.7			9.5
Add: Income / (loss) attributable to noncontrolling interests		4.6			(0.8	)		(30.4	)		50.8
Add: Gain on dispositions of assets, net – continuing operations		2.6			3.3			7.3			11.0
Add: Gain on dispositions of assets, net – discontinued operations		0.1			0.6			0.5			0.8
Recurring EBITDAre^(a)(b)	$	327.6		$	335.7		$	787.2		$	863.7

^(a) Refer to Definitions and Notes for additional information.
^(b) EBITDAre and Recurring EBITDAre include discontinued operations activity.
^(c) Represents non-recurring transaction costs that are directly attributable to the Park Holidays Sale and the Safe Harbor Sale for the applicable periods.

Real Property Operations – Total Portfolio
($ in millions)

	Quarter Ended September 30, 2026									Quarter Ended September 30, 2025
	MH			RV			Total			MH			RV			Total
Revenues
Real property (excluding transient)^(a)	$	274.7		$	100.4		$	375.1		$	254.6		$	96.2		$	350.8
Real property – transient		0.1			103.4			103.5			0.1			106.2			106.3
Total operating revenues		274.8			203.8			478.6			254.7			202.4			457.1
Expenses
Property operating expenses		87.8			88.2			176.0			82.9			86.9			169.8
Real Property NOI^(a)	$	187.0		$	115.6		$	302.6		$	171.8		$	115.5		$	287.3

	Nine Months Ended September 30, 2026									Nine Months Ended September 30, 2025
	MH			RV			Total			MH			RV			Total
Revenues
Real property (excluding transient)^(a)	$	815.2		$	272.6		$	1,087.8		$	753.2		$	255.5		$	1,008.7
Real property – transient		0.8			192.2			193.0			0.8			197.7			198.5
Total operating revenues		816.0			464.8			1,280.8			754.0			453.2			1,207.2
Expenses
Property operating expenses		256.8			224.4			481.2			241.1			220.1			461.2
Real Property NOI	$	559.2		$	240.4		$	799.6		$	512.9		$	233.1		$	746.0

	As of September 30, 2026									As of September 30, 2025
	MH			RV			Total			MH			RV			Total
Number of Properties		295			157			452			284			164			448
Sites
Sites^(b)		100,250			31,990			132,240			97,070			32,480			129,550
Transient sites	N/A				21,280			21,280		N/A				23,560			23,560
Total		100,250			53,270			153,520			97,070			56,040			153,110
Occupancy^(c)		97.6	%		100.0	%		98.2	%		97.9	%		100.0	%		98.4	%

N/A = Not applicable.
^(a) Refer to Definitions and Notes for additional information.
^(b) MH sites included 13,381 and 11,856 rental homes in the Company’s rental program at September 30, 2026 and 2025, respectively. The Company’s gross investment in occupied rental homes at September 30, 2026 was $1.0 billion, an increase of 16.3% from $863.4 million at September 30, 2025.
^(c) Occupancy percentages for the RV segment exclude transient RV sites.

Real Property Operations – Same Property Portfolio^(a)
($ in millions)

	Quarter Ended September 30,
		2026						2025					Total Change			% Change^(b)
	MH		RV		Total		MH		RV		Total		Total Change			MH		RV		Total
Same Property Revenues
Real property (excluding transient)	$	247.4	$	88.6	$	336.0	$	233.9	$	86.5	$	320.4	$	15.6		5.8	%	2.4	%	4.9	%
Real property – transient		0.1		100.4		100.5		0.1		101.4		101.5		(1.0	)	(3.0) %		(1.1) %		(1.1) %
Total Same Property operating revenues		247.5		189.0		436.5		234.0		187.9		421.9		14.6		5.8	%	0.5	%	3.4	%
Same Property Expenses
Payroll and benefits		14.9		25.7		40.6		14.3		25.3		39.6		1.0		4.4	%	1.7	%	2.7	%
Real estate taxes		19.5		6.6		26.1		19.1		6.6		25.7		0.4		2.4	%	(1.7) %		1.4	%
Supplies and repairs		13.5		10.7		24.2		12.6		9.4		22.0		2.2		6.5	%	13.0	%	9.3	%
Utilities		5.7		17.8		23.5		5.1		16.5		21.6		1.9		10.7	%	7.8	%	8.5	%
Legal, state / local taxes, and insurance		7.5		2.4		9.9		8.9		3.2		12.1		(2.2	)	(15.3) %		(23.6) %		(17.5) %
Other		2.5		14.0		16.5		1.9		13.7		15.6		0.9		32.8	%	2.3	%	6.0	%
Total Same Property operating expenses^(a)		63.6		77.2		140.8		61.9		74.7		136.6		4.2		2.8	%	3.2	%	3.0	%
Real Property NOI^(a)	$	183.9	$	111.8	$	295.7	$	172.1	$	113.2	$	285.3	$	10.4		6.9	%	(1.3) %		3.6	%

	Nine Months Ended September 30,
		2026						2025					Total Change			% Change^(b)
	MH		RV		Total		MH		RV		Total		Total Change			MH		RV		Total
Same Property Revenues
Real property (excluding transient)	$	736.5	$	240.5	$	977.0	$	693.4	$	231.2	$	924.6	$	52.4		6.2	%	4.0	%	5.7	%
Real property – transient		0.8		183.3		184.1		0.8		187.8		188.6		(4.5	)	3.5	%	(2.4) %		(2.4) %
Total Same Property operating revenues		737.3		423.8		1,161.1		694.2		419.0		1,113.2		47.9		6.2	%	1.1	%	4.3	%
Same Property Expenses
Payroll and benefits		44.4		64.3		108.7		43.6		64.4		108.0		0.7		2.0	%	(0.2) %		0.7	%
Real estate taxes		58.6		20.2		78.8		55.8		20.0		75.8		3.0		5.0	%	1.1	%	4.0	%
Supplies and repairs		38.2		26.6		64.8		33.9		23.7		57.6		7.2		12.8	%	12.3	%	12.6	%
Utilities		16.0		41.4		57.4		16.1		38.8		54.9		2.5		(0.4) %		6.7	%	4.6	%
Legal, state / local taxes, and insurance		21.8		7.3		29.1		24.3		9.1		33.4		(4.3	)	(10.4) %		(19.1) %		(12.7) %
Other		8.5		33.6		42.1		8.2		33.5		41.7		0.4		3.4	%	0.1	%	0.8	%
Total Same Property operating expenses^(a)		187.5		193.4		380.9		181.9		189.5		371.4		9.5		3.1	%	2.1	%	2.6	%
Real Property NOI^(a)	$	549.8	$	230.4	$	780.2	$	512.3	$	229.5	$	741.8	$	38.4		7.3	%	0.4	%	5.2	%

^(a) Refer to Definitions and Notes for additional information.
^(b) Percentages are calculated based on unrounded numbers.
Real Property Operations – Same Property Portfolio (Continued)

	As of September 30,
		2026						2025
	MH			RV			MH			RV
Number of properties^(a)		282			152			282			152
Sites
MH and annual RV sites		97,210			30,940			96,750			31,160
Transient RV sites	N/A				20,960		N/A				21,000
Total		97,210			51,900			96,750			52,160
MH and Annual RV Occupancy
Occupancy^(b)		97.8	%		100.0	%		97.9	%		100.0	%
Average monthly base rent per site	$	776		$	700		$	737		$	674
% Change of monthly base rent^(c)		5.2	%		3.9	%	N/A			N/A
Rental Program Statistics included in MH
Number of occupied sites, end of period^(d)		13,000		N/A				11,830		N/A
Average monthly rent per site – MH rental program	$	1,418		N/A			$	1,387		N/A
% Change^(c)		2.2	%	N/A			N/A			N/A

N/A = Not applicable.
^(a) Financial results from properties impacted by dispositions and catastrophic weather events have been removed from Same Property reporting.
^(b) Same Property blended occupancy for MH and RV declined by 10 basis points to 98.3% at September 30, 2026, from 98.4% at September 30, 2025. Adjusting for recently delivered and vacant expansion sites, Same Property adjusted blended occupancy for MH and RV declined by 50 basis points to 98.8% at September 30, 2026, from 99.3% at September 30, 2025.
^(c) Percentages are calculated based on unrounded numbers.
^(d) Occupied rental program sites in Same Property are included in total sites.

Home Sales Summary
($ in millions, except for average selling price)

	Quarter Ended September 30,							Nine Months Ended September 30,
		2026			2025		% Change		2026			2025		% Change
Financial Information
Home sales	$	31.8		$	37.8		(15.9) %	$	86.1		$	108.3		(20.5) %
Home cost and selling expenses		28.0			30.8		(9.1) %		77.4			90.3		(14.3) %
NOI^(a)	$	3.8		$	7.0		(45.7) %	$	8.7		$	18.0		(51.7) %
NOI margin %^(a)		11.9	%		18.5	%			10.1	%		16.6	%
Other Information
Units Sold:		349			404		(13.6) %		967			1,231		(21.4) %
Average Selling Price:	$	91,117		$	93,564		(2.6) %	$	89,038		$	87,977		1.2	%

^(a) Refer to Definitions and Notes for additional information.

Operating Statistics for MH and Annual RVs

	Resident Move-outs			Leased Sites, Net^(b)	New Home Sales	Pre-owned Home Sales	Brokered Re-sales
	% of Total Sites		Number of Move-outs	Leased Sites, Net^(b)	New Home Sales	Pre-owned Home Sales	Brokered Re-sales
2026 – YTD as of September 30	5.7%^(a)		7,440	38	225	742	1,457
2025	6.2	%	10,179	1,138	354	1,210	1,646
2024	4.3	%	7,050	3,209	447	1,554	1,700

^(a) Percentage calculated based on a trailing 12-month basis.
^(b) Increase in revenue producing sites, net of new vacancies.

Acquisitions and Dispositions
($ in millions)

Property Name

Segment / Property Type

Number of Properties

Sites

State, Province, or Country

Total Purchase Price / Sales Proceeds

Month

ACQUISITIONS

First Quarter 2026

Parkhurst Estates

279

17.0

January

Fourth Quarter 2026 (through October 26, 2026)

Rosewood / Rowan Oak

169

35.0

October

Battle Ground

189

44.5

October

Total Acquisitions Year to Date

637

96.5

DISPOSITIONS

Second Quarter 2026

Sun Retreats Amherstberg

299

0.1

April

Joint Venture RV Portfolio

945

Various

9.0

June

Third Quarter 2026

Park Holidays

22,030

1,050.4

September

Fort Myers RV Portfolio

2,516

127.0

September

Total Dispositions Year to Date

25,790

1,186.5

Capital Expenditures^(a)
($ in millions)

			Non-Recurring Capital Expenditures
Period	Recurring Capital Expenditures		Lot Modifications		Growth Projects		Capital Improvements to Recent Acquisitions		Expansion and Development		Total Non-Recurring Capital Expenditures		Total
Nine Months Ended September 30, 2026	$	53.5	$	29.7	$	14.3	$	7.8	$	23.2	$	75.0	$	128.5
Year Ended December 31, 2025	$	55.8	$	38.8	$	12.9	$	8.3	$	66.7	$	126.7	$	182.5
Year Ended December 31, 2024	$	54.5	$	35.5	$	11.5	$	22.9	$	105.2	$	175.1	$	229.6

^(a) Refer to Definitions and Notes for additional information.

Capitalization Overview
($ in millions, shares and units in thousands, except for share price)

	As of September 30, 2026
	Common Equivalent Shares	Share Price		Capitalization
Equity and Enterprise Value
Common shares	119,942	$	110.78	$	13,287.2
Convertible securities
Common OP units	2,352	$	110.78		260.5
Preferred OP units	1,966	$	110.78		217.8
Diluted shares outstanding and market capitalization^(a)	124,260				13,765.5
Plus: Total debt, per condensed consolidated balance sheet					3,776.2
Total capitalization					17,541.7
Less: Cash and cash equivalents (excluding restricted cash)					(658.9	)
Enterprise Value^(a)				$	16,882.8

^(a)Refer to Definitions and Notes for additional information related to the Company’s securities outstanding.

^(b)

	As of September 30, 2026
	Debt Outstanding		Weighted Average Interest Rate^(a)		Weighted Average Maturity (in years)	Maturity Date
Secured Debt:
Mortgage loans payable	$	1,950.2	3.61	%	9.5	Various
Secured borrowings on collateralized receivables^(b)		37.6	8.53	%	11.6	Various
Total Secured Debt		1,987.8	3.70	%
Unsecured Debt:
Senior Unsecured Notes:
2028 senior unsecured notes		448.6	2.29	%	2.1	November 2028
2031 senior unsecured notes		745.1	2.70	%	4.8	July 2031
2032 senior unsecured notes		594.7	3.61	%	5.5	April 2032
Total Unsecured Debt		1,788.4	2.90	%	4.4
Total carrying value of debt, per condensed consolidated balance sheets		3,776.2	3.32	%	7.1
Plus: Unamortized deferred financing costs, discounts / premiums on debt, and fair value adjustments^(a)		17.3
Total debt	$	3,793.5

^(a)Includes the effect of amortizing deferred financing costs, unsecured note discounts, and fair value adjustments on the Secured borrowings on collateralized receivables.
^(b)Refer to Definitions and Notes for additional information.
^(c)

Debt Maturities^(a)

($ in millions)

	As of September 30, 2026
Year	Mortgage Loans Payable^(b)		Principal Amortization		Secured Borrowings on Collateralized Receivables^(c)(d)		Senior Unsecured Notes		Total
2026	$	55.7	$	8.4	$	—	$	—	$	64.1
2027		—		34.6		0.5		—		35.1
2028		175.6		38.5		2.2		450.0		666.3
2029		310.8		37.9		2.3		—		351.0
2030		—		37.2		2.5		—		39.7
Thereafter		807.9		452.2		27.2		1,350.0		2,637.3
Total	$	1,350.0	$	608.8	$	34.7	$	1,800.0	$	3,793.5

^(a) Debt maturities include the unamortized deferred financing costs, discount / premiums, and fair value adjustments associated with outstanding debt.
^(b) For the Mortgage loans payable maturing between 2026 – 2030:

	2026			2027			2028			2029			2030
Weighted average interest rate	3.93	%		—	%		3.97	%		3.16	%		—	%

^(c) Balance at September 30, 2026 excludes fair value adjustments of $2.9 million.
^(d) Refer to Definitions and Notes for additional information.

Debt Analysis

		As of September 30, 2026
Select Credit Ratios
Net Debt / TTM Recurring EBITDAre^(a)		3.2 x
Net Debt / Enterprise Value^(a)		18.5	%
Net Debt / Gross Assets^(a)		23.1	%
Unencumbered assets / Total assets		80.5	%
Floating rate debt / Total debt		N/A^(c)
Coverage Ratios
TTM Recurring EBITDAre^(a)(b) / Interest		6.7 x
TTM Recurring EBITDAre^(a)(b) / Interest + Preferred distributions + Preferred stock distribution		6.7 x
Credit Facility Covenants^(d)	Requirement
Maximum leverage ratio	<65.0 %	14.9	%
Minimum fixed charge coverage ratio	>1.40 x	5.22 x
Maximum secured leverage ratio	<40.0 %	8.7	%
Senior Unsecured Note Covenants	Requirement
Total debt / Total assets	≤60.0 %	28.2	%
Secured debt / Total assets	≤40.0 %	14.7	%
Consolidated income available for debt service / Debt service	≥1.50 x	8.17 x
Unencumbered total asset value / Total unsecured debt	≥150.0 %	599.2	%

^(a)Refer to Definitions and Notes for additional information.
^(b) Percentage includes the impact of hedge activities.
^(c) As of September 30, 2026, the Company had no floating rate debt.
^(d) As of September 30, 2026, the Company did not have any borrowings outstanding under its senior credit facility.

Definitions and Notes

Acquisition and Other Transaction Costs – In the Company’s Reconciliation of Net Income / (Loss) Attributable to SUI Common Shareholders to Core FFO on page 5, “Acquisition and other transaction costs – continuing operations” represent (a) nonrecurring integration expenses associated with acquisitions during the quarters and nine months ended September 30, 2026 and 2025, (b) costs associated with potential acquisitions that will not close, (c) expenses incurred to bring recently acquired properties up to the Company’s operating standards, including items such as tree trimming and painting costs that do not meet the Company’s capitalization policy, and (d) other non-recurring transaction costs. Within this same reconciliation on page 5, “Acquisition and other transaction costs – discontinued operations” primarily represent non-recurring transaction costs that are directly attributable to the Park Holidays Sale and the Safe Harbor Sale and nonrecurring integration expenses associated with previous UK and marina acquisitions.

Adjusted Blended Occupancy – Occupancy percentage after adjusting for recently delivered and vacant expansion sites.

Asset Impairments – In the Company’s Condensed Consolidated Statements of Operations on page 4, the Company recorded asset impairment charges of $17.2 million for the quarter ended September 30, 2026, primarily consisting of charges to reduce the carrying value of one RV property in Texas, driven by a reduction in projected future cash flows for the impaired property.

Capital Expenditures – The Company classifies its investments in properties into the following categories:

Recurring Capital Expenditures – Property recurring capital expenditures are necessary to maintain asset quality, including purchasing and replacing items used to operate the communities. Recurring capital expenditures at the Company’s MH and RV properties include major road, driveway and pool improvements; clubhouse renovations; adding or replacing streetlights; playground equipment; signage; maintenance facilities; manager housing and property vehicles. The minimum capitalized amount is one thousand dollars.
Non-Recurring Capital Expenditures – The following investment and reinvestment activities are non-recurring in nature:
- Lot Modifications – consist of expenditures incurred to modify the foundational structures required to set up a new home after a previous home has been removed. These expenditures are necessary to create a revenue stream from a new site renter and often improve the quality of the community. Other lot modification expenditures include land improvements added to annual RV sites to aid in the conversion of transient RV guests to annual contracts. See page 10 for move-out rates.
- Growth Projects – consist of revenue-generating or expense-reducing activities at the properties. These include, but are not limited to, utility efficiency and renewable energy projects, site, or amenity upgrades, such as the addition of a garage or shed, and other special capital projects that substantiate an incremental rental increase.
- Capital Improvements to Recent Acquisitions – represents capital improvements identified during due diligence from the acquisition date through the third year of ownership needed to bring acquired properties up to the Company’s operating standards.

Capital improvements subsequent to acquisition often require 24 to 36 months to complete after closing. At MH and RV properties, capital improvements include upgrading clubhouses; landscaping; new street lighting systems; new mail delivery systems; pool renovations including larger decks, heaters and furniture; new maintenance facilities; lot modifications; and new signage including main signs and internal road signs.

Expansions and Developments – consist primarily of construction costs such as roads, activities, and amenities, and costs necessary to complete site improvements, such as driveways, sidewalks, and landscaping at the Company’s MH and RV communities. Expenditures also include costs to rebuild after damage has been incurred at MH or RV properties.

Cash, Cash Equivalents and Restricted Cash – Includes cash and cash equivalents of $40.4 million as of September 30, 2026, that was held in escrow accounts and restricted from general use.

Discontinued Operations:

Park Holidays Sale – In May 2026, the Company entered into an agreement to sell Park Holidays, which represents a strategic shift in operations that will have a major effect on the Company’s operations and financial results. Accordingly, the results of the UK business and assets and liabilities included in the disposition are presented as discontinued operations for all periods presented herein.

On September 22, 2026, the Company closed the Park Holidays Sale, which generated cash proceeds of $1.03 billion, net of closing and employee separation costs. As a result, as of September 30, 2026, the Company has fully divested its investment in the UK business. As previously reported, during the quarter ended June 30, 2026, the Company recorded a non-cash valuation allowance of $1.1 billion against the assets held for sale to reduce the carrying value of the UK business to the estimated fair value less costs to sell. During the quarter ended September 30, 2026, the Company recorded an increase to the valuation allowance and loss on disposal of $50.6 million. Each respective change to the valuation allowance was recorded within Income / (loss) from discontinued operations, net on the Company’s Condensed Consolidated Statements of Operations.

Safe Harbor Sale – In 2025, the Company entered into the Safe Harbor Sale, which represented a strategic shift in operations. Accordingly, the results of the Safe Harbor business have been reflected as discontinued operations on the Company’s Condensed Consolidated Statements of Operations through the final transaction closing date of August 29, 2025.

The following table sets forth a summary of the operating results included within Income / (loss) from discontinued operations, net on the Company’s Condensed Consolidated Statements of Operations (in millions):

	Quarter Ended September 30,					Nine Months Ended September 30,
		2026			2025		2026			2025
Income / (loss) from discontinued operations, net – Park Holidays Sale	$	(9.3	)	$	49.4	$	(1,101.2	)	$	(14.2	)
Income from discontinued operations, net – Safe Harbor Sale		—			14.6		—			1,418.6
Income / (loss) from discontinued operations, net	$	(9.3	)	$	64.0	$	(1,101.2	)	$	1,404.4

	Quarter Ended September 30,						Nine Months Ended September 30,
		2026			2025			2026			2025
Revenues
Real property	$	60.0		$	60.6		$	150.7		$	145.1
Home sales		50.6			57.8			145.3			154.6
Ancillary		19.9			20.2			41.7			41.0
Interest, brokerage commissions and other, net		2.2			2.7			4.0			4.2
Total Revenues		132.7			141.3			341.7			344.9
Expenses
Property operating and maintenance		25.4			25.5			77.0			74.6
Real estate tax		2.0			2.2			6.5			6.3
Home costs and selling		34.9			40.3			103.6			110.2
Ancillary		15.6			16.9			38.1			39.0
General and administrative^(a)		14.4			9.6			50.0			30.2
Depreciation and amortization		—			10.9			18.9			30.0
Asset impairments		—			—			—			132.7
Interest		0.1			2.0			0.3			9.4
Total Expenses		92.4			107.4			294.4			432.4
Income / (Loss) Before Other Items		40.3			33.9			47.3			(87.5	)
Gain / (loss) on disposition of properties, net		5.0			(0.3	)		3.3			(0.6	)
Other income / (expense), net		—			18.9			(12.1	)		43.9
Loss on foreign currency exchanges		—			—			(0.7	)		—
Loss from classification to held for sale and disposal of discontinued operation^(b)		(50.6	)		—			(1,127.8	)		—
Income / (Loss) from Discontinued Operations, before income taxes		(5.3	)		52.5			(1,090.0	)		(44.2	)
Current tax expense		(4.0	)		(4.3	)		(7.3	)		(8.5	)
Deferred tax benefit / (expense)		—			1.2			(3.9	)		38.5
Income / (Loss) from Discontinued Operations	$	(9.3	)	$	49.4		$	(1,101.2	)	$	(14.2	)

^(a) Includes transaction costs associated with the Park Holidays Sale of $4.1 million and $19.0 million during the quarter and nine months ended September 30, 2026, respectively, primarily consisting of legal and advisory fees.
^(b) Includes transaction costs incurred in connection with the closing of the Park Holidays Sale of $1.6 million and $65.4 million during the quarter and nine months ended September 30, 2026, respectively, primarily consisting of employee separation costs, broker fees, and other closing costs.

Enterprise Value – Equals total equity market capitalization, plus total indebtedness reported on the Company’s balance sheet and less unrestricted cash and cash equivalents.

GAAP – U.S. Generally Accepted Accounting Principles.

Interest expense – The following is a summary of the components of the Company’s interest expense (in millions):

	Quarter Ended September 30,					Nine Months Ended September 30,
		2026		2025			2026			2025
Interest on secured debt, senior unsecured notes, and senior credit facility, net of interest rate swaps	$	35.9	$	36.5		$	107.7		$	163.9
Amortization of deferred financing costs, debt (premium) / discounts, and (gains) / losses on hedges		0.7		0.9			2.3			3.8
Senior credit facility commitment fees and other finance related charges		0.9		1.3			2.6			4.6
Capitalized interest expense		—		(0.2	)		(0.3	)		(2.9	)
Interest expense before interest on secured borrowings		37.5		38.5			112.3			169.4
Interest expense on secured borrowings on collateralized receivables		0.8		1.0			2.5			3.0
Interest expense, per Condensed Consolidated Statements of Operations	$	38.3	$	39.5		$	114.8		$	172.4

Loss of earnings – catastrophic event-related charges, net – include the following (in millions):

	Quarter Ended September 30,				Nine Months Ended September 30,
		2026		2025		2026		2025
Hurricane Ian – Estimated loss of earnings in excess of the applicable business interruption deductible	$	—	$	4.1	$	—	$	12.0
Hurricane Ian – Insurance recoveries realized for previously estimated loss of earnings		—		—		—		(9.9	)
Hurricane Ian – Recognition of deferred lump sum insurance settlement⁽¹⁾		3.2		—		9.6		—
Hurricane Helene – Estimated loss of earnings in excess of the applicable business interruption deductible, net		—		0.1		—		0.4
Loss of earnings – catastrophic event-related charges, net	$	3.2	$	4.2	$	9.6	$	2.5

⁽¹⁾ During the year ended December 31, 2025, the Company received a settlement of $80.2 million from an insurance provider to settle all claims related to property, casualty, flood, and business interruption insurance recoveries from Hurricane Ian. The Company concluded that $36.5 million of the total settlement pertained to business interruption recoveries through 2027, which the Company recorded as a contingent gain in accordance with ASC 450, “Contingencies.” To better reflect the underlying economics of the transaction, the Company has elected to defer the business interruption recovery gain and recognize income ratably through 2027 for the Company’s presentation of Core FFO.

NAREIT – The National Association of Real Estate Investment Trusts is the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate and capital markets. More information is available at www.reit.com.

Net Debt – The carrying value of debt, plus, unamortized premiums, discounts, and deferred financing costs, less unrestricted cash and cash equivalents. The following table sets forth the components of Net Debt (in millions):

	September 30, 2026			December 31, 2025
Total carrying value of debt, per condensed consolidated balance sheets	$	3,776.2		$	4,258.7
Plus: Unamortized deferred financing costs, discounts / premiums on debt, and fair value adjustments		17.3			19.3
Less: Cash and cash equivalents (excluding restricted cash)		(658.9	)		(569.6	)
Net Debt	$	3,134.6		$	3,708.4

Other adjustments, net – In the Company’s Reconciliation of Net Income / (Loss) Attributable to SUI Common Shareholders to Core FFO on page 5, Other adjustments, net – continuing operations and Other adjustments, net – discontinued operations consist of the following (in millions):

	Quarter Ended September 30,						Nine Months Ended September 30,
Other adjustments, net – continuing operations		2026			2025			2026			2025
Contingent consideration gains	$	—		$	—		$	—		$	(6.0	)
Gain on insurance recovery		(1.4	)		—			(8.1	)		—
Cash flow hedge gains from debt extinguishments		—			(0.2	)		(1.7	)		(7.6	)
Severance costs		0.7			0.1			5.1			0.2
Accelerated deferred compensation amortization		—			—			13.8			2.0
ERP implementation expense		0.8			0.8			2.3			2.6
Other		1.6			0.3			3.8			2.9
Other adjustments, net – continuing operations	$	1.7		$	1.0		$	15.2		$	(5.9	)

	Quarter Ended September 30,					Nine Months Ended September 30,
Other adjustments, net – discontinued operations		2026		2025			2026		2025
Long term lease termination (gains) / losses	$	—	$	(18.9	)	$	12.2	$	(44.6	)
Contingent consideration expense		—		—			—		15.5
Other		—		—			—		0.5
Other adjustments, net – discontinued operations	$	—	$	(18.9	)	$	12.2	$	(28.6	)

Other income, net – In the Company’s Condensed Consolidated Statements of Operations on page 4, Other income, net consists of the following (in millions):

	Quarter Ended September 30,						Nine Months Ended September 30,
		2026			2025			2026			2025
Contingent consideration gains	$	—		$	—		$	—		$	6.0
Gain on insurance recovery		1.4			—			8.1			—
Cash flow hedge gains from debt extinguishments		—			0.2			1.7			7.6
Repair reserve on repossessed homes		—			0.3			0.1			(0.3	)
Gain / (loss) on remeasurement of collateralized receivables		(0.3	)		0.2			(0.9	)		(0.3	)
Gain / (loss) on remeasurement of secured borrowings on collateralized receivables		0.3			(0.2	)		0.9			0.3
Other		(0.4	)		(0.3	)		(0.5	)		(0.5	)
Other income, net	$	1.0		$	0.2		$	9.4		$	12.8

Revenue Producing Site – Defined as a site that is occupied by a paying resident or reserved by a customer with annual or seasonal usage rights.

Revenue Producing Site Net Gains – Represents the net increase in Revenue Producing Sites during the period, excluding any occupied sites acquired during the year and excluding disposition activity.

Safe Harbor Sale – The Company’s sale of Safe Harbor Marinas, LLC in 2025.

Same Property – The Company defines Same Properties as those the Company has owned and operated continuously since at least January 1, 2025. Same properties exclude ground-up development properties, acquired properties, properties classified as discontinued operations, properties impacted by catastrophic weather events, and properties sold after December 31, 2024. The Same Property data may change from time-to-time depending on acquisitions, dispositions, management discretion, significant transactions, or other unique situations.

Secured borrowings on collateralized receivables – This is a transferred asset transaction which has been classified as collateralized receivables with the cash received from this transaction recorded as secured borrowings. The interest income and interest expense accrue in equal amounts. The Company has elected to record the collateralized receivables and secured borrowings at fair value under ASC 820, “Fair Value Measurement.” As a result, the balance of collateralized receivables and related secured borrowings are net of fair value adjustments.

Securities – The Company had the following securities outstanding as of September 30, 2026:

	Number of Units / Shares Outstanding (in thousands)	Conversion Rate^(a)	If Converted to Common shares (in thousands)^(b)	Issuance Price Per Unit		Annual Distribution Rate
Non-Convertible Securities
Common shares	119,942	N/A	N/A	N/A		$4.48^(c)
Convertible Securities Classified as Equity
Common OP units	2,352	1.0000	2,352	N/A		$4.48^(c)
Preferred OP Units
Series A-1	137	2.4390	335	$	100.00	6.00	%
Series A-3	40	1.8605	75	$	100.00	4.50	%
Series C	292	1.1100	324	$	100.00	5.00	%
Series D	489	0.8000	391	$	100.00	4.00	%
Series E	80	0.6897	55	$	100.00	5.50	%
Series F	20	0.6250	12	$	100.00	3.00	%
Series G	5	0.6452	3	$	100.00	3.20	%
Series H	47	0.6098	29	$	100.00	3.00	%
Series J	232	0.6061	141	$	100.00	2.85	%
Series K	1,000	0.5882	588	$	100.00	4.00	%
Series L	20	0.6250	13	$	100.00	3.50	%
Total	2,362		1,966
Total Convertible Securities Outstanding	4,714		4,318

^(a) Exchange rates are subject to adjustment upon stock splits, recapitalizations, and similar events. The exchange rates of certain series of OP units are approximated to four decimal places.
^(b)Calculation may yield minor differences due to fractional shares paid in cash to the shareholder at conversion.
^(c)Based on the annualized last quarterly distribution.

Share – In addition to reporting net income on a diluted basis (“EPS”), the Company reports FFO and Core FFO on a per common share and convertible securities basis (per “Share”). For the periods presented below, the Company’s diluted weighted average common shares outstanding for EPS and FFO are as follows:

	Quarter Ended September 30,		Nine Months Ended September 30,
	2026	2025	2026	2025
Diluted Weighted Average Common Shares Outstanding – EPS
Weighted average common shares outstanding – Basic	120.8	123.9	122.0	125.6
Dilutive restricted stock	—	0.2	0.2	—
Common and preferred OP units dilutive effect	2.4	—	4.5	—
Weighted Average Common Shares Outstanding – Diluted	123.2	124.1	126.7	125.6
Diluted Weighted Average Common Shares Outstanding – FFO
Weighted average common shares outstanding – Basic	120.8	123.9	122.0	125.6
Restricted stock	0.2	0.2	0.2	0.4
Common OP units	2.4	2.8	2.4	2.9
Common stock issuable upon conversion of certain preferred OP units	1.9	2.4	2.1	2.3
Weighted Average Common Shares and OP Units Outstanding	125.3	129.3	126.7	131.2

Utility Revenues – In its Condensed Consolidated Statements of Operations and its total portfolio presentation of real property operating results, the Company includes the following utility reimbursement revenues in real property revenues (excluding transient) (in millions):

	Quarter Ended September 30,				Nine Months Ended September 30,
Consolidated Portfolio		2026		2025		2026		2025
Utility reimbursement revenues
MH	$	21.9	$	20.1	$	62.7	$	57.3
RV		6.8		6.7		17.0		16.4
Total	$	28.7	$	26.8	$	79.7	$	73.7

For its presentation of Same Property results on page 9, the Company nets the following utility revenues (which include utility reimbursement revenues from residents) against related utility expenses in Same Property operating expenses (in millions):

	Quarter Ended September 30,				Nine Months Ended September 30,
Same Property Portfolio		2026		2025		2026		2025
Utility revenues netted against related utility expenses
MH	$	21.4	$	20.0	$	61.3	$	57.1
RV		6.8		6.7		16.8		16.3
Total	$	28.2	$	26.7	$	78.1	$	73.4

Non-GAAP Supplemental Measures

Investors and analysts following the real estate industry use non-GAAP supplemental performance measures, including net operating income (“NOI”), Net Debt, earnings before interest, tax, depreciation, and amortization for real estate (“EBITDAre”), and funds from operations (“FFO”) to assess REITs. The Company believes that NOI, EBITDAre, Net Debt, and FFO are appropriate measures given their wide use by and relevance to investors and analysts. Additionally, these non-GAAP measures are commonly used in various ratios, pricing multiples, yields and returns and valuation calculations that measure financial position, performance, and value.

NOI provides a measure of rental operations and does not factor in depreciation, amortization and non-property specific expenses such as general and administrative expenses.

EBITDAre provides a further measure to evaluate the Company’s ability to incur and service debt; EBITDAre also provides further measures to evaluate the Company’s ability to fund dividends and other cash needs. FFO, reflecting the assumption that real estate values rise or fall with market conditions, principally adjusts for the effects of GAAP depreciation and amortization of real estate assets.

Net Operating Income (“NOI”)
- Total Portfolio NOI – NOI is derived from property operating revenues minus property operating expenses and real estate taxes. NOI is a non-GAAP financial measure that the Company believes is helpful to investors as a supplemental measure of operating performance because it is an indicator of the return on property investment and provides a method of comparing property performance over time. The Company uses NOI as a key measure when evaluating performance and growth of particular properties and / or groups of properties. The principal limitation of NOI is that it excludes depreciation, amortization, interest expense, and non-property specific expenses such as general and administrative expenses, all of which are significant costs. Therefore, NOI is a measure of the operating performance of the properties of the Company rather than of the Company overall. The Company believes that NOI provides enhanced comparability for investor evaluation of property performance and growth over time.

The Company believes that GAAP net income (loss) is the most directly comparable measure to NOI. NOI should not be considered to be an alternative to GAAP net income (loss) as an indication of the Company’s financial performance or GAAP net cash provided by operating activities as a measure of the Company’s liquidity; nor is it indicative of funds available for the Company’s cash needs, including its ability to make cash distributions. Because of the inclusion of items such as interest, depreciation, and amortization, the use of GAAP net income (loss) as a performance measure is limited as these items may not accurately reflect the actual change in market value of a property, in the case of depreciation and in the case of interest, may not necessarily be linked to the operating performance of a real estate asset, as it is often incurred at a parent company level and not at a property level.

Same Property NOI – This is a key management tool used when evaluating performance and growth of the Company’s Same Property portfolio. Same Property NOI does not include the revenues and expenses related to home sales and ancillary activities at the properties. The Company believes that Same Property NOI is helpful to investors as a supplemental comparative performance measure of the income generated from the Same Property portfolio from one period to the next.

Earnings before interest, tax, depreciation and amortization for real estate (“EBITDAre”)
- EBITDAre – Nareit calculates “EBITDAre” as GAAP net income (loss), plus interest expense, plus income tax expense, plus depreciation and amortization, plus or minus losses or gains on the disposition of depreciated property (including losses or gains on change of control), plus impairment write-downs of depreciated property and of investments in nonconsolidated affiliates caused by a decrease in value of depreciated property in the affiliate, and adjustments to reflect the entity’s share of EBITDAre of nonconsolidated affiliates. EBITDAre is a non-GAAP financial measure that the Company uses to evaluate its ability to incur and service debt, fund dividends and other cash needs, and cover fixed costs. Investors utilize EBITDAre as a supplemental measure to evaluate and compare investment quality and enterprise value of REITs.
- Recurring EBITDAre – The Company also uses EBITDAre excluding certain gain and loss items that management considers unrelated to measurement of the Company’s performance on a basis that is independent of capital structure (“Recurring EBITDAre”). The Company believes that GAAP net income (loss) is the most directly comparable measure to EBITDAre. EBITDAre is not intended to be used as a measure of the Company’s cash generated by operations or its dividend-paying capacity, and should therefore not replace GAAP net income (loss) as an indication of the Company’s financial performance or GAAP cash flow provided by / used for operating, investing, and financing activities as measures of liquidity.

Funds from Operations (“FFO”)
- FFO – Nareit defines FFO as GAAP net income (loss), excluding gains (or losses) from sales of certain real estate assets, real estate related depreciation and amortization, gains (or losses) from change in control, impairments of certain real estate assets and investments, and adjustments for nonconsolidated partnerships and joint ventures. FFO is a non-GAAP financial measure that management believes is a useful supplemental measure of the Company’s operating performance. By excluding gains and losses related to sales of previously depreciated operating real estate assets, real estate related impairment, and real estate asset depreciation and amortization (which can vary among owners of identical assets in similar condition based on historical cost accounting and useful life estimates), FFO provides a performance measure that, when compared period-over-period, reflects the impact to operations from trends in occupancy rates, rental rates and operating costs, providing perspective not readily apparent from GAAP net income (loss). Management believes the use of FFO has been beneficial in improving the understanding of operating results of REITs among the investing public and making comparisons of REIT operating results more meaningful.
- Core FFO – In addition to FFO, the Company uses FFO excluding certain gain and loss items that management considers unrelated to the operational and financial performance of the Company’s core business (“Core FFO”) to evaluate our performance. These adjustments include acquisition and other transaction costs, gains and losses from the early extinguishment of debt, costs related to catastrophic weather events, net of insurance recoveries, gains and losses on foreign currency exchanges, and other miscellaneous non-comparable items, such as restructuring costs.

The Company believes that FFO and Core FFO provide enhanced comparability for investor evaluations of period-over-period results. The Company believes that GAAP net income (loss) is the most directly comparable measure to FFO. The principal limitation of FFO is that it does not replace GAAP net income (loss) as a financial performance measure or GAAP cash flow from operating activities as a measure of the Company’s liquidity. Because FFO excludes significant economic components of GAAP net income (loss) including depreciation and amortization, FFO should be used as a supplement to GAAP net income (loss) and not as an alternative to it. Furthermore, FFO is not intended as a measure of a REIT’s ability to meet debt principal repayments and other cash requirements, nor as a measure of working capital. FFO is calculated in accordance with the Company’s interpretation of standards established by Nareit, which may not be comparable to FFO reported by other REITs that interpret the Nareit definition differently. Certain financial information has been revised to reflect reclassifications in prior periods to conform to current period presentation.

Attachment

SUI 3Q 2026 Press Release and Supplemental

Posted in UncategorizedTagged GlobeNewswire

Nasdaq Appoints Börje Ekholm to its Board of Directors; Holden Spaht to Step Down from Board at Year-End

Posted on October 26, 2026 by Ravi Shankar

NEW YORK, Oct. 26, 2026 (GLOBE NEWSWIRE) — Nasdaq, Inc. (Nasdaq: NDAQ) today announced the appointment of Börje Ekholm to its Board of Directors. Ekholm is the former President and CEO of Ericsson, the former President and CEO of Investor AB, and a previous Chair of the Nasdaq Board of Directors. Ekholm’s appointment is effective as of November 1, 2026, and he will serve as a member of the Audit & Risk Committee. Separately, Nasdaq today announced that Holden Spaht has notified Nasdaq of his decision to resign from the Board, effective December 31, 2026.

“Börje’s return not only brings deep knowledge of Nasdaq’s DNA as a catalyst for market innovation, but also a rare combination of strategic vision and operational discipline, as demonstrated by his successful transformation of Ericsson into a stronger, more competitive organization,” said Adena Friedman, Chair and CEO, Nasdaq. “His global technology expertise and his proven track record of driving innovation and growth will make him a tremendous addition to our Board as we continue to advance our strategic agenda.”

Most recently, Ekholm was the President and CEO of Ericsson, a position he held between January 2017 and September 2026, where he led a turnaround of the company, transforming it into a global leader in 5G and communications technology. Ekholm currently serves as Chair of the Board of Directors of Trimble Inc. (Nasdaq: TRMB), and previous board assignments include Alibaba, Husqvarna, KTH Royal Institute of Technology (Chair), Scania and WM Data (Chair). Ekholm is also a board advisor for Mars, an Advisor to the CEO of Ericsson, and a board member of the Swedish-American Chamber of Commerce New York.

“I am honored to re-join Nasdaq’s Board at such an important time during its strategic evolution,” said Börje Ekholm. “Nasdaq is a leading force across the global capital markets and the broader technology and financial ecosystem, and I look forward to working alongside my fellow directors and the management team to advance Nasdaq’s role as the industry’s transformation partner.”

As Ekholm prepares to join the Board, Holden Spaht will conclude his service at year-end following three years as a director. Spaht joined the Nasdaq Board in November 2023 following the acquisition of Adenza. During his tenure, Nasdaq accelerated its transformation into a leading technology platform for the global financial system, completed the integration of Adenza, achieved its synergy and deleveraging targets ahead of schedule, and raised its medium-term revenue outlook. Nasdaq also maintained its position as the leading U.S. listing exchange, strengthened its anti-financial crime and regulatory technology offerings, and drove sustained growth across its Solutions businesses.

“Nasdaq is an exceptional company with a great board of directors and one of the best CEOs that I’ve had the privilege to work with,” said Holden Spaht. “I am confident that under Adena’s leadership, Nasdaq will continue to advance its position as a leading technology and solutions provider to the global financial system. I am deeply grateful for the experience and proud of what we have accomplished together.”

“On behalf of the entire Board, I want to express my sincere gratitude to Holden for his exceptional service and meaningful contributions during a transformative period for Nasdaq,” said Adena Friedman, Chair and CEO, Nasdaq. “His insights and counsel have been invaluable as we advanced our strategic vision and strengthened our position as the trusted fabric of the global financial system. We wish him the very best in his next chapter.”

About Nasdaq:
Nasdaq (Nasdaq: NDAQ) is a leading technology platform that powers the world’s economies. We architect the infrastructure of the world’s most modern markets, power the innovation economy, and build trust in the financial system. We empower economic opportunity by designing and deploying advanced technology, data, and intelligence solutions that enable our clients to capture opportunities, navigate risk, and strengthen resilience. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.

Nasdaq Media Contact:
David Lurie
+1.914.538.0533
David.Lurie@nasdaq.com

Investor Relations Contact:
Ato Garrett
+1.212.401.8737
Ato.Garrett@Nasdaq.com

-NDAQF-

Posted in UncategorizedTagged GlobeNewswire

Clover Health to Participate in Upcoming UBS Global Healthcare Conference

Posted on October 26, 2026 by Ravi Shankar

WILMINGTON, Del., Oct. 26, 2026 (GLOBE NEWSWIRE) — Clover Health Investments, Corp. (Nasdaq: CLOV) (“Clover,” “Clover Health” or the “Company”), today announced that its Interim Chief Financial Officer, Clay Thornton, will present at the 2026 UBS Global Healthcare Conference on Monday, November 9, 2026, at 12:30 p.m. Eastern Time.

A live webcast and replay of the presentation and Q&A session will be accessible on Clover Health’s investor relations website at https://investors.cloverhealth.com/.

About Clover Health:
Clover Health (Nasdaq: CLOV) is a physician enablement technology company committed to bringing access to great healthcare to everyone on Medicare. This includes a focus on seniors who have historically lacked access to affordable, high-quality healthcare. Our strategy is powered by our software platform, Clover Assistant, which is designed to aggregate patient data from across the healthcare ecosystem to support clinical decision-making and improve health outcomes through the early identification and management of chronic disease. For our members, we provide PPO and HMO Medicare Advantage plans in several states, with a differentiated focus on our flagship wide-network, high-choice PPO plans. For healthcare providers outside Clover Health’s Medicare Advantage plan, we extend the benefits of our data-driven technology platform to a wider audience via our subsidiary, Counterpart Health, and aim to enable enhanced patient outcomes and reduced healthcare costs on a nationwide scale. Clover Health has published data demonstrating the technology’s impact on Medication Adherence, Congestive Heart Failure, Chronic Obstructive Pulmonary Disease, and in Underserved Populations as well as the earlier identification and management of Diabetes and Chronic Kidney Disease.

Investor Relations:
Ryan Schmidt
investors@cloverhealth.com

Press Inquiries:
press@cloverhealth.com

Posted in UncategorizedTagged GlobeNewswire

Hawkins, Inc. Declares Quarterly Cash Dividend of $0.20 Per Share

Posted on October 26, 2026 by Ravi Shankar

ROSEVILLE, Minn., Oct. 26, 2026 (GLOBE NEWSWIRE) — The Board of Directors of Hawkins, Inc. (Nasdaq: HWKN), at its meeting on October 26, 2026, declared a quarterly cash dividend of $0.20 per share, payable November 25, 2026, to shareholders of record at the close of business on November 11, 2026. Hawkins has consistently paid out a dividend since 1985.

About Hawkins, Inc.

Hawkins, Inc. was founded in 1938 and is a leading water treatment and specialty ingredients company that formulates, manufactures, distributes and blends products for its Water Treatment, Food & Health Sciences and Industrial Solutions customers. Headquartered in Roseville, Minnesota, the Company has 69 facilities in 28 states and creates value for its customers through superb customer service and support, quality products and personalized applications. Hawkins, Inc. generated approximately $1.1 billion of revenue in fiscal 2026 and has approximately 1,200 employees. For more information, including registering to receive email alerts, please visit www.hawkinsinc.com/investors.

Contact: Jack Shufelt
                Investor Relations, Mergers and Acquisitions and Treasury Director
                612/617-8582
                ir@hawkinsinc.com
                jack.shufelt@hawkinsinc.com

Posted in UncategorizedTagged GlobeNewswire

One Stop Systems to Report Third Quarter 2026 Financial Results

Posted on October 26, 2026 by Ravi Shankar

Conference Call to be Held Wednesday, October 28, 2026, at 10:00 a.m. ET

ESCONDIDO, Calif., Oct. 26, 2026 (GLOBE NEWSWIRE) — One Stop Systems, Inc. (“OSS” or the “Company”) (Nasdaq: OSS), a leader in rugged Enterprise Class compute for artificial intelligence (AI), machine learning (ML) and sensor processing at the edge, announced today that it will release its third quarter 2026 financial results before the market opens on Wednesday, October 28, 2026. A webcast and conference call will be held that same day at 10:00 a.m. ET to review the Company’s results.

Conference Call and Webcast

Domestic: 1-800-717-1738
International: 1-646-307-1865
Conference ID: 32264
Webcast: https://viavid.webcasts.com/starthere.jsp?ei=1773205&tp_key=3a8ee0805b

Conference Call Replay

Domestic: 1-844-512-2921
International: 1-412-317-6671
Passcode: 1132264

A replay of the call will be available after 1:00 p.m. ET on October 28, 2026, through November 11, 2026.

About One Stop Systems
One Stop Systems, Inc. (Nasdaq: OSS) is a leader in AI enabled solutions for the demanding ‘edge’. OSS designs and manufactures Enterprise Class compute and storage products that enable rugged AI, sensor fusion and autonomous capabilities without compromise. These hardware and software platforms bring the latest data center performance to harsh and challenging applications, whether they are on land, sea or in the air.

OSS products include ruggedized servers, compute accelerators, flash storage arrays, and storage acceleration software. These specialized compact products are used across multiple industries and applications, including autonomous trucking and farming, as well as aircraft, drones, ships and vehicles within the defense industry.

OSS solutions address the entire AI workflow, from high-speed data acquisition to deep learning, training and large-scale inference, and have delivered many industry firsts for industrial OEM and government customers.

As the fastest growing segment of the multi-billion-dollar edge computing market, AI enabled solutions require-and OSS delivers-the highest level of performance in the most challenging environments without compromise.

OSS products are available directly or through global distributors. For more information, go to www.onestopsystems.com. You can also follow OSS on X, YouTube, and LinkedIn.

Forward-Looking Statements
One Stop Systems cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. Words such as, but not limited to, “anticipate,” “aim,” “believe,” “contemplate,” “continue,” “could,” “design,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “suggest,” “strategy,” “target,” “will,” “would,” and similar expressions or phrases, or the negative of those expressions or phrases, are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These statements are based on the company’s current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by One Stop Systems or its partners that any of our plans or expectations will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, performance of our products, growth of the edge computing market, as well as risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading “Risk Factors” in our latest Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the company undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Media Contacts:
Paul “PK” Averna
One Stop Systems, Inc.
Tel (703) 509-5631
Email contact

Investor Relations:
Andrew Berger
Managing Director
SM Berger & Company, Inc.
Tel (216) 464-6400
Email contact

Posted in UncategorizedTagged GlobeNewswire

Sunrise Realty Trust Schedules Earnings Release and Conference Call for the Third Quarter Ended September 30, 2026

Posted on October 26, 2026 by Ravi Shankar

WEST PALM BEACH, Fla., Oct. 26, 2026 (GLOBE NEWSWIRE) — Sunrise Realty Trust, Inc. (Nasdaq: SUNS) (“SUNS”), a lender on the Tannenbaum Capital Group (“TCG”) Real Estate platform, today announced that it will release its financial results for the third quarter ended September 30, 2026, on Tuesday, November 10, 2026, after market close. On Wednesday, November 11, 2026, Management will review SUNS’ financial results at 10:00 am ET via webcast available on the Investor Relations website at ir.sunriserealtytrust.com. Participants are also invited to access the conference call by registering in advance at this link. A replay will be available one hour after the event.

SUNS distributes its earnings releases via its website and email lists. Those interested in receiving firm updates by email can sign up for them here.

About Sunrise Realty Trust, Inc.

Sunrise Realty Trust, Inc. (Nasdaq: SUNS) (“SUNS” or the “Company”) is an institutional commercial real estate (“CRE”) lender providing flexible financing solutions to sponsors of CRE projects located primarily in the Southern United States. It focuses on transitional CRE business plans with the potential for near-term value creation, collateralized by top-tier assets predominantly located in established and rapidly expanding Southern markets. For additional information regarding the Company, please visit www.sunriserealtytrust.com.

About TCG Real Estate

TCG Real Estate refers to a group of affiliated CRE-focused debt vehicles, including a Nasdaq-listed mortgage real estate investment trust (“REIT”), Sunrise Realty Trust, Inc. (Nasdaq: SUNS), and a private mortgage REIT, Southern Realty Trust Inc. The vehicles provide flexible financing on transitional CRE properties that present opportunities for near-term value creation, with a focus on top-tier CRE assets located primarily within markets in the Southern U.S. benefiting from economic tailwinds with growth potential. For additional information regarding TCG Real Estate, please visit www.theTCG.com.

Investor Relations Contacts

Robyn Tannenbaum // Will Rotatori
561-510-2293 // 561-510-6109
ir@thetcg.com

Media Contact

Jim Velgot
561-510-1416
ir@thetcg.com

Posted in UncategorizedTagged GlobeNewswire

Recursion to Host Webinar Focused on Updated REC-4881 (FAP) Data from CGA-IGC on Tuesday, November 3

Posted on October 26, 2026 by Ravi Shankar

Webinar will include earnings updates and REC-4881 data as well as KOL and patient panels, presented live from CGA-IGC on Tuesday, November 3, 2026 at 8:00 am ET / 6:00 am MT / 1:00 pm GMT
Third quarter 2026 results will be released prior to the webinar, after the close of US markets on Monday, November 2, 2026

Salt Lake City, UT, Oct. 26, 2026 (GLOBE NEWSWIRE) — Recursion (Nasdaq: RXRX), a leading clinical-stage company pioneering AI-enabled drug discovery and development decoding biology to radically improve lives, announced today it will provide business updates and report its third quarter 2026 financial results on Monday, November 2, 2026, after the close of the financial markets, with live call from the Collaborative Group of the Americas on Inherited Gastrointestinal Cancer (CGA-IGC) Annual Meeting in Denver, Colorado on November 3, 2026, at 8:00 AM ET / 6:00 AM MT / 1:00 PM GMT.

In advance of an expected regulatory update for REC-4881 by the end of the year, the call will feature:

A third quarter recap from Najat Khan, Ph.D., Chief Executive Officer and President of Recursion, including encouraging REC-1245 monotherapy data, as well as a presentation REC-4481 data from the Company’s CGA-IGC plenary presidential presentation.
KOL panel moderated by Vicki Goodman, M.D. Chief Medical Officer of Recursion, providing contextualization of the data, including a natural history perspective and relevance to unmet need in FAP, from global FAP specialists Bryson Katona, M.D., Ph.D., Director of the GI Cancer Genetics Program, University of Pennsylvania Perelman School of Medicine, and TUPELO study investigator, as well as Evelien Dekker M.D., Ph.D., Head of the Expert Clinic for Familial and Hereditary Polyposis and Colorectal Cancer, and Principal Investigator of the Natural History Registry study, Amsterdam University Medical Center.
Discussion moderated by Vicki Goodman, M.D. featuring patient advocates sharing their experiences on living with FAP, a disease for which there are currently no approved pharmacotherapies.

The company will broadcast the call from Recursion’s X, LinkedIn, and YouTube accounts. Investors, analysts, and the public will be able to ask questions of the company by submitting questions here: Question Form.

About Recursion
Recursion (NASDAQ: RXRX) is a leading clinical-stage company pioneering AI-enabled drug discovery and development decoding biology to radically improve lives. Recursion is advancing a portfolio of differentiated investigational medicines across its wholly owned and partnered pipeline in oncology, rare disease, neuroscience, immunology, and other therapeutic areas with significant unmet need. Enabling its mission is the Recursion OS, an AI-native, end-to-end drug discovery and development platform integrating biology, chemistry, and clinical development into a unified intelligence system. Powered by proprietary multimodal data, purpose-built AI models, and bilingual teams fluent in both science and AI, the Recursion OS is designed to translate complex science into medicines that matter — faster, better, and at scale — for patients who are waiting.

Recursion’s platform infrastructure is anchored in Salt Lake City, Utah and Milton Park, Oxfordshire, where its automated biology and chemistry laboratories generate proprietary data at industrial scale. Recursion also maintains offices in New York, Montréal, and London, three global hubs for talent and leadership at the intersection of AI and scientific innovation.

Forward-Looking Statements
This document contains information that includes or is based upon “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, those regarding the timing of the release of third quarter 2026 financial results; the occurrence, timing, and content of the webinar and investor call, including the presentations and panel discussions; the presentation of updated REC-4881 data at the CGA-IGC Annual Meeting; the potential of REC-4881 to address unmet need in FAP; the timing and outcome of an expected regulatory update for REC-4881; early and late stage discovery, preclinical, and clinical programs; licenses and collaborations; prospective products and their potential future indications and market opportunities; Recursion OS and other technologies; business and financial plans and performance; and all other statements that are not historical facts. Forward-looking statements may or may not include identifying words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “goal,” “intend,” “may,” “plan,” “potential,” “project,” “seek,” “should,” “target,” “will,” “would,” and similar terms, or the negative of these terms. These statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements, including but not limited to: challenges inherent in pharmaceutical research and development, including the timing and results of preclinical and clinical programs, where the risk of failure is high and failure can occur at any stage prior to or after regulatory approval due to lack of sufficient efficacy, safety considerations, or other factors; the risk that interim, preliminary, or updated clinical data may change as more patient data become available, may be interpreted differently by regulators or others, and may not be indicative of final results; our ability to leverage and enhance our drug discovery platform; risks related to our development and use of artificial intelligence and machine learning models, including the quality, sufficiency, and integrity of the data on which such models are trained and evolving laws and regulations governing artificial intelligence; our reliance on third parties, including contract research and contract manufacturing organizations, for the conduct of preclinical studies, clinical trials, and manufacturing; competition from other companies pursuing similar technologies or drug candidates; our ability to obtain financing for development activities and other corporate purposes; the success of our collaboration activities; our ability to obtain regulatory approval of, and ultimately commercialize, drug candidates; our ability to obtain, maintain, and enforce intellectual property protections; cyberattacks or other disruptions to our technology systems; our ability to attract, motivate, and retain key employees and manage our growth; inflation and other macroeconomic issues; and other risks and uncertainties such as those described under the heading “Risk Factors” in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. All forward-looking statements are based on management’s current estimates, projections, and assumptions and speak only as of the date of this document. Recursion undertakes no obligation to correct or update any such statements, whether as a result of new information, future developments, or otherwise, except to the extent required by applicable law.

Media Contact
media@recursion.com

Investor Contact
investor@recursion.com

CONTACT: Ryan Kelly
Recursion Pharmaceuticals
media@recursion.com

Posted in UncategorizedTagged GlobeNewswire

Orrstown Financial Services Named to the Fortune 100 Fastest-Growing Companies List

Posted on October 26, 2026 by Ravi Shankar

HARRISBURG, Pa., Oct. 26, 2026 (GLOBE NEWSWIRE) — Orrstown Financial Services, Inc., the parent company of Orrstown Bank, today announced it has been named to the Fortune 100 Fastest-Growing Companies™ 2026 list, earning recognition among the nation’s top-performing publicly traded companies.

Orrstown Financial Services was ranked No. 77 nationally and stands as the highest-ranked bank headquartered in Pennsylvania or Maryland on the 2026 list.

“Our recognition on this prestigious list reflects the strength of the Orrstown Bank team, the trust of our clients, and our unwavering commitment to our communities,” said Adam Metz, President and Chief Executive Officer. “Our growth is rooted in a relationship-first approach to banking, a focus on delivering exceptional client experiences, and the dedication of our employees who work every day to make a meaningful difference for our clients and communities.”

The annual ranking by Fortune evaluates companies based on a formula that includes revenue growth, earnings-per-share growth, and total shareholder return over a three-year period. The 2026 list marks the 41st year of the ranking.

“As we continue to expand our presence across Pennsylvania and Maryland, this recognition validates our long-term strategy and the momentum we have built as an organization,” said Mr. Metz. “We remain focused on creating lasting value for our clients, employees, communities, and shareholders.”

About Orrstown

With $5.7 billion in assets, Orrstown Financial Services, Inc. (the “Company”) and its wholly owned subsidiary, Orrstown Bank, provide a wide range of consumer and business financial services in Adams, Berks, Cumberland, Dauphin, Franklin, Lancaster, Perry, and York Counties, Pennsylvania and Anne Arundel, Baltimore, Howard, and Washington Counties, Maryland, as well as Baltimore City, Maryland. The Company’s lending area also includes counties in Pennsylvania, Maryland, Delaware, Virginia and West Virginia within a 75-mile radius of the Company’s executive and administrative offices as well as the District of Columbia. Orrstown Bank is an Equal Housing Lender and its deposits are insured up to the legal maximum by the FDIC. Orrstown Financial Services, Inc.’s common stock is traded on the NASDAQ Global Select Market under the symbol “ORRF.” For more information about Orrstown Financial Services, Inc. and Orrstown Bank, visit www.orrstown.com.

For media inquiries or further information, please contact:
John Moss
SVP, Director of Marketing and Client Experience
717-747-1520
jmoss@orrstown.com

Posted in UncategorizedTagged GlobeNewswire

eGain to Announce Fiscal 2027 First Quarter Financial Results on November 5, 2026

Posted on October 26, 2026 by Ravi Shankar

SUNNYVALE, Calif., Oct. 26, 2026 (GLOBE NEWSWIRE) — eGain (NASDAQ: EGAN), a leading provider of AI-powered knowledge management and customer experience automation solutions, will announce its fiscal 2027 first quarter financial results after the close of regular market trading on Thursday, November 5, 2026, followed by an investor conference call and webcast at 2:00 p.m. Pacific Time (5:00 p.m. ET). Chief Executive Officer Ashu Roy and Chief Financial Officer Eric Smit will host the call and webcast.

When:	Thursday, November 5^th at 2:00 p.m. Pacific Time (5:00 p.m. ET).

Webcast:	A live and archived webcast of the conference call can be accessed from the investors section of eGain’s website at www.egain.com.

Dial In:	To access the live call, dial (800) 715-9871 (U.S. toll free) or +1 (646) 307-1963 (International) and ask to join the eGain earnings call or provide conference ID 2196366.

Replay:	A phone replay of the conference call will be available starting two hours after the call and remain in effect for one week. To access the phone replay, dial 855-669-9658 (U.S. toll free) or +1 412-317-0088 (International). The replay access code is 2852681.

About eGain
eGain is a leading provider of AI-powered knowledge management and customer experience automation solutions. With over 25 years of experience in knowledge management, eGain helps enterprises unify siloed content, automate trusted knowledge workflows, and deliver measurable AI-ROI through proven frameworks and methods. Global 2000 companies across industries rely on eGain to transform customer service, improve employee productivity, reduce costs, and accelerate AI adoption. Visit www.egain.com for more information.

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Posted in UncategorizedTagged GlobeNewswire

C&F Financial Corporation Announces Net Income for Third Quarter and First Nine Months of 2026

Posted on October 26, 2026 by Ravi Shankar

TOANO, Va., Oct. 26, 2026 (GLOBE NEWSWIRE) — C&F Financial Corporation (the Corporation) (NASDAQ: CFFI), the holding company for C&F Bank, today reported consolidated net income of $8.3 million for the third quarter of 2026, an increase of 16.1 percent, compared to $7.1 million for the third quarter of 2025. The Corporation reported consolidated net income of $23.7 million for the first nine months of 2026, an increase of 16.8 percent, compared to $20.3 million for the first nine months of 2025.

Included in net income for the first nine months of 2026 were the effects of the sale of an equity interest in Bearing Insurance Group, LLC (the “Bearing equity interest”), resulting in a pre-tax gain of $8.3 million, and a securities portfolio restructuring (the “Portfolio Restructuring”), which resulted in a pre-tax loss of $7.1 million. Adjusted net income, a non-GAAP measure, increased $2.7 million, or 13.1 percent, for the first nine months of 2026, compared to the same period of 2025, which excludes the effects of the items mentioned above. The following table presents selected financial performance highlights for the periods indicated:


	For The Quarter Ended									For the Nine Months Ended
Consolidated Financial Highlights (unaudited)	9/30/2026			6/30/2026			9/30/2025			9/30/2026			9/30/2025
Consolidated net income (000’s)	$	8,257		$	8,626		$	7,113		$	23,677		$	20,275

Adjusted net income¹	$	8,257		$	7,883		$	7,113		$	22,934		$	20,275

Earnings per share – basic and diluted	$	2.55		$	2.63		$	2.18		$	7.26		$	6.22
Adjusted earnings per share – basic and diluted¹	$	2.55		$	2.40		$	2.18		$	7.03		$	6.22

Annualized return on average assets (ROA)		1.18	%		1.23	%		1.06	%		1.13	%		1.02	%
Adjusted annualized ROA¹		1.18	%		1.13	%		1.06	%		1.09	%		1.02	%
Annualized return on average equity (ROE)		11.86	%		12.75	%		11.60	%		11.60	%		11.36	%
Adjusted annualized ROE¹		11.86	%		11.65	%		11.60	%		11.24	%		11.36	%
Annualized return on average tangible common equity (ROTCE)¹		13.18	%		14.08	%		13.07	%		12.86	%		12.84	%
Adjusted annualized ROTCE¹		13.18	%		12.86	%		13.07	%		12.45	%		12.84	%

________________________
¹ The Corporation uses non-GAAP measures of financial performance, including adjusted net income, adjusted earnings per share, adjusted annualized ROA, adjusted annualized ROE, annualized ROTCE and adjusted annualized ROTCE, to provide meaningful information about operating performance to investors by excluding the effects of certain items that management does not expect to have an ongoing impact on consolidated net income. Each of the non-GAAP measures listed in the prior sentence for the second quarter and first nine months of 2026 excludes the effects of the sale of the Bearing equity interest and the Portfolio Restructuring. For more information about these non-GAAP financial measures, which are not calculated in accordance with generally accepted accounting principles (GAAP), please see “Use of Certain Non-GAAP Financial Measures” and “Reconciliation of Certain Non-GAAP Financial Measures,” below.

“Our third quarter performance reflects the strength of our diversified business model and disciplined execution of our strategic priorities,” said Tom Cherry, President and Chief Executive Officer of C&F Financial Corporation. “Growth in community banking loans and a stronger net interest margin drove solid results. We also expanded into the Lynchburg, Virginia market with the opening of a loan production office. Credit quality remains good and consumer activity remains resilient despite inflation, elevated interest rates, and geopolitical uncertainty. We believe our strong financial position leaves us well positioned for the future.”

Key highlights for the third quarter and first nine months of 2026 are as follows.

Community banking segment loans grew $102.8 million, or 8.6 percent annualized, compared to December 31, 2025 and $148.1 million, or 9.6 percent, compared to September 30, 2025;
Consumer finance segment loans decreased $12.8 million, or 3.7 percent annualized, compared to December 31, 2025 and $11.8 million, or 2.5 percent, compared to September 30, 2025;
Deposits increased $10.4 million, or 1.0 percent annualized, compared to December 31, 2025 and $58.0 million, or 2.5 percent, compared to September 30, 2025;
Consolidated annualized net interest margin (FTE) was 4.53 percent for the third quarter of 2026 compared to 4.24 percent for the third quarter of 2025 and 4.41 percent for the second quarter of 2026;
The consumer finance segment experienced net charge-offs at an annualized rate of 2.63 percent and 2.61 percent of average total loans for the third quarter and first nine months of 2026, respectively, compared to 2.68 percent and 2.51 percent for the same periods of 2025 and 2.21 percent for the second quarter of 2026;
Mortgage banking segment loan originations increased $5.7 million, or 3.4 percent, to $172.8 million and $91.8 million, or 18.6 percent, to $586.1 million for the third quarter and first nine months of 2026, respectively, compared to the same periods of 2025;
During the first nine months of 2026, the community banking segment completed the sale of its Bearing equity interest, resulting in a pre-tax gain of $8.3 million. Following the sale, the community banking segment executed the Portfolio Restructuring, resulting in a pre-tax loss of $7.1 million. The community banking segment sold securities with a book value of $72.6 million and purchased approximately $67.8 million of securities; and
The Corporation expanded into the Lynchburg, Virginia market with the hiring of an experienced lender in the third quarter of 2026.

Community Banking Segment. The community banking segment reported net income of $8.9 million and $24.2 million for the third quarter and first nine months of 2026, respectively, compared to $7.4 million and $19.9 million for the same periods of 2025 due primarily to:

higher interest income resulting from higher average balances of loans and securities and higher average interest rates on loans and securities, due primarily to an increase in market interest rates and the Portfolio Restructuring; and
a pre-tax gain of $8.3 million on the sale of the Bearing equity interest in the first nine months of 2026, reported in investment income from other equity interests;

partially offset by:

higher salaries and employee benefits due primarily to the addition of seasoned lending teams with the expansion into the Roanoke and Lynchburg Virginia markets in the third quarters of 2025 and 2026, respectively, annual compensation adjustments, and increased employee incentive accruals associated with improved financial performance;
the Portfolio Restructuring, which resulted in a pre-tax loss of $7.1 million for the first nine months of 2026, reported in net loss on sales of available for sale securities;
higher provision for credit losses for the first nine months of 2026 as compared to the same period of 2025 due primarily to the reversal of a specific reserve in the second quarter of 2025 upon the resolution of a nonperforming commercial real estate loan; and
higher data processing expenses associated with investments in information technology infrastructure projects.

Adjusted net income for the community banking segment, which excludes the effects of the sale of the Bearing equity interest and the Portfolio Restructuring, was $23.5 million for the first nine months of 2026 compared to $19.9 million for the same period in 2025. Adjusted net income for the community banking segment increased $3.5 million for the first nine months of 2026 compared to the same period in 2025 due primarily to the other items discussed above.

Average loans increased $133.0 million, or 8.6 percent, for the third quarter of 2026 and $133.5 million, or 8.9 percent, for the first nine months of 2026 compared to the same periods of 2025 due primarily to growth in the commercial real estate and land acquisition and development segments of the loan portfolio. Average deposits increased $99.1 million, or 4.4 percent, for the third quarter of 2026 and $142.7 million, or 6.4 percent, for the first nine months of 2026 compared to the same periods of 2025.

Average interest-earning asset yields at the community banking segment were higher for the third quarter and first nine months of 2026 compared to the same periods of 2025 due primarily to higher average interest rates on securities and loans and higher average balances of loans. In the Portfolio Restructuring, the community banking segment sold $72.6 million in book value of securities with a weighted average yield of 1.40% and representing approximately 14.7% of the entire securities portfolio, and purchased approximately $67.8 million of securities with a weighted average yield of 4.70%. Average loan yields increased for the third quarter and first nine months of 2026 at the community banking segment due primarily to higher average market interest rates. Average costs of interest-bearing deposits were lower for the third quarter and the first nine months of 2026 compared to the same periods of 2025 due primarily to a decrease in average interest rates paid on time deposits.

The community banking segment’s nonaccrual loans were $1.1 million at both September 30, 2026 and December 31, 2025. The community banking segment recorded no provision for credit losses in the third quarter of 2026 compared to a net reversal of $100,000 in the third quarter of 2025. For the first nine months of 2026, the community banking segment recorded $450,000 of provision for credit losses compared to a net reversal of $300,000 for the first nine months of 2025. At September 30, 2026 the allowance for credit losses was $17.8 million compared to $17.4 million at December 31, 2025. The allowance for credit losses as a percentage of total loans decreased to 1.05 percent at September 30, 2026 from 1.10 percent at December 31, 2025 due primarily to changes in the forecast of key credit loss model assumptions, which includes the forecast of the national unemployment rate derived from the Federal Open Market Committee of the Federal Reserve Board. Management believes that the level of the allowance for credit losses is adequate to reflect the net amount expected to be collected.

Mortgage Banking Segment. The mortgage banking segment reported net income of $266,000 for the third quarter of 2026 compared to $641,000 for the same period of 2025 due primarily to:

lower gains on sales of loans due primarily to lower margins;

partially offset by:

higher mortgage lender services fee income.

The mortgage banking segment reported net income of $2.2 million for the first nine months of 2026 compared to $2.1 million for the same period of 2025 due primarily to:

higher gains on sales of loans and higher mortgage banking fee income due to higher volume of mortgage loan originations; and
higher mortgage lender services fee income;

partially offset by:

higher variable expenses tied to mortgage loan origination volume such as commissions and bonuses, reported in salaries and employee benefits, and higher loan processing and collection expenses.

Mortgage banking segment loan originations increased 3.4 percent and 18.6 percent for the third quarter and first nine months of 2026, respectively, compared to the same periods of 2025 as the mortgage interest rate environment was generally more favorable during the first nine months of 2026 compared to the first nine months of 2025. With interest rates rising in the third quarter of 2026, refinancings decreased during the quarter by 22.7 percent compared to the third quarter of 2025. Mortgage loan originations for the mortgage banking segment were $172.8 million for the third quarter of 2026, comprised of $158.3 million home purchases and $14.5 million refinancings, compared to $167.0 million for the third quarter of 2025, comprised of $148.2 million home purchases and $18.8 million refinancings. Mortgage loan originations for the mortgage banking segment were $586.1 million for the first nine months of 2026, comprised of $510.0 million home purchases and $76.1 million refinancings, compared to $494.3 million for the first nine months of 2025, comprised of $447.1 million home purchases and $47.2 million refinancings. Mortgage banking segment originations include originations of loans sold to the community banking segment, at prices similar to those paid by third-party investors. Intercompany gains, losses, and other income and expenses related to these transactions are eliminated to reach consolidated totals.

Through the Lender Solutions division of the mortgage banking segment, mortgage lender services fee income is derived from providing mortgage origination functions to third-party mortgage lenders for a fee. Mortgage lender services fee income increased to $907,000 and $2.7 million for the third quarter and first nine months of 2026, respectively, compared to $768,000 and $2.1 million for the same periods of 2025 due primarily to an increase in the number of third-party mortgage lenders serviced and increased mortgage loan volume in the industry.

During the third quarter and first nine months of 2026, the mortgage banking segment recorded net reversals of provision for indemnification losses of $35,000 and $95,000, respectively, compared to net reversals of provision for indemnification losses of $75,000 and $135,000 in the same periods of 2025. The allowance for indemnifications was $1.1 million and $1.2 million at September 30, 2026 and December 31, 2025, respectively. Management believes that the indemnification reserve is sufficient to absorb losses related to loans that have been sold in the secondary market.

Consumer Finance Segment. The consumer finance segment reported net income of $303,000 for the third quarter of 2026 compared to $231,000 for the same period of 2025 due primarily to:

lower provision for credit losses due primarily to a decrease in the balance of loans; and
lower interest expense allocation on borrowings from the community banking segment as a result of lower average balance of borrowings and lower average interest rates;

partially offset by:

lower interest income resulting from lower average balances of loans and lower loan yields.

The consumer finance segment reported net income of $760,000 for the first nine months of 2026 compared to $1.0 million for the same period of 2025 due primarily to:

higher provision for credit losses due primarily to higher net charge-offs;

partially offset by:

lower interest expense allocation on borrowings from the community banking segment as a result of lower average interest rates and lower average balance of borrowings.

Average loans decreased $10.0 million, or 2.2 percent, for the third quarter of 2026 and decreased $5.3 million, or 1.1 percent, for the first nine months of 2026, compared to the same periods in 2025 due primarily to a decrease in marine and recreational vehicle loans as the third party administrator of that program significantly decreased sales of those loans to outside parties during 2025, which led to the consumer finance segment ending future purchases under the program during the third quarter of 2025. The marine and recreational vehicle portfolio is expected to run off over time, subject to normal repayment activity and credit performance. The consumer finance segment experienced net charge-offs at an annualized rate of 2.61 percent of average total loans for the first nine months of 2026 compared to 2.51 percent for the first nine months of 2025 due primarily to a mix shift in the portfolio as balances of marine and recreational vehicle loans, which historically have had lower charge-off rates than the automobile portfolio, continued to decrease. At September 30, 2026, total delinquent loans as a percentage of total loans was 3.39 percent compared to 4.38 percent at December 31, 2025 and 4.00 percent at September 30, 2025.

The consumer finance segment, at times, offers payment deferrals as a portfolio management technique to achieve higher ultimate cash collections on select loan accounts. Average amounts of payment deferrals of automobile loans on a monthly basis, which are not included in delinquent loans, were 2.05 percent and 1.59 percent of average automobile loans outstanding during the third quarter and first nine months of 2026, respectively, compared to 1.88 percent and 1.79 percent during the same periods of 2025 and 1.40 percent during the second quarter of 2026.

The allowance for credit losses was $21.8 million, or 4.84 percent of total loans, at September 30, 2026 compared to $22.3 million, or 4.79 percent of total loans, at December 31, 2025. The increase in the percent of allowance to total loans from December 31, 2025 to September 30, 2026 is due primarily to a mix shift in the portfolio as balances of marine and recreational vehicle loans, which historically have had lower charge-off rates than the automobile portfolio, continued to decrease. Management believes that the level of the allowance for credit losses is adequate to reflect the net amount expected to be collected. If loan performance deteriorates resulting in further elevated delinquencies or net charge-offs, the provision for credit losses may increase in future periods.

Liquidity. The objective of the Corporation’s liquidity management is to ensure the continuous availability of funds to satisfy the credit needs of our customers and the demands of our depositors, creditors and investors. Uninsured deposits represent an estimate of amounts above the Federal Deposit Insurance Corporation (FDIC) insurance coverage limit of $250,000. As of September 30, 2026, the Corporation’s uninsured deposits were approximately $720.4 million, or 30.6 percent of total deposits. Excluding intercompany cash holdings and municipal deposits, which are secured with pledged securities, amounts uninsured were approximately $587.2 million, or 24.9 percent of total deposits as of September 30, 2026. The Corporation’s liquid assets, which include cash and due from banks, interest-bearing deposits at other banks and nonpledged securities available for sale, were $389.4 million and borrowing availability was $641.7 million as of September 30, 2026, which in total exceed uninsured deposits, excluding intercompany cash holdings and secured municipal deposits, by $443.9 million as of September 30, 2026.

In addition to deposits, the Corporation utilizes short-term and long-term borrowings as sources of funds. Short-term borrowings from the Federal Reserve Bank and the Federal Home Loan Bank of Atlanta (FHLB) may be used to fund the Corporation’s day-to-day operations. Total borrowings increased to $138.1 million at September 30, 2026 from $113.3 million at December 31, 2025 due primarily to an increase in FHLB advances during the first nine months of 2026 that were used to help fund loan growth.

Additional sources of liquidity available to the Corporation include cash flows from operations, loan payments and payoffs, deposit growth, maturities, calls and sales of securities, the issuance of brokered certificates of deposit and the capacity to borrow additional funds.

Capital and Dividends. During the third quarter of 2026, the Corporation declared a quarterly cash dividend of 48 cents per share. This dividend, which was paid to shareholders on October 1, 2026, represents a payout ratio of 18.8 percent of earnings per share for the third quarter of 2026. The Corporation continually reviews the amount of cash dividends per share and the resulting dividend payout ratio in light of changes in economic conditions, current and future capital levels and requirements, and expected future earnings.

Total consolidated equity increased $7.0 million at September 30, 2026 compared to December 31, 2025 due primarily to net income partially offset by higher unrealized losses in the market value of securities available for sale, which are recognized as a component of other comprehensive income, and by dividends paid on the Corporation’s common stock. The Corporation’s securities available for sale are fixed income debt securities and their unrealized loss position is a result of increased market interest rates since they were purchased. The Corporation expects to recover its investments in debt securities through scheduled payments of principal and interest. Unrealized losses are not expected to affect the earnings or regulatory capital of the Corporation or C&F Bank. The accumulated other comprehensive loss related to the Corporation’s securities available for sale, net of deferred income taxes, increased to $23.2 million at September 30, 2026 compared to $10.2 million at December 31, 2025 due primarily to an increase in debt security market interest rates.

As of September 30, 2026, C&F Bank was categorized as well capitalized under the FDIC’s regulatory framework for prompt corrective action. To be categorized as well capitalized under regulations applicable at September 30, 2026, C&F Bank was required to maintain minimum total risk-based, Tier 1 risk-based, CET1 risk-based and Tier 1 leverage ratios. In addition to the regulatory risk-based capital requirements, C&F Bank must maintain a capital conservation buffer of additional capital of 2.5 percent of risk-weighted assets as required by the Basel III capital rules. The Corporation and C&F Bank exceeded these ratios at September 30, 2026. For additional information, see “Capital Ratios” below. The above-mentioned ratios are not impacted by unrealized losses on securities available for sale. In the event that all of these unrealized losses become realized into earnings, the Corporation and C&F Bank would both continue to exceed minimum capital requirements, including the capital conservation buffer, and be considered well capitalized.

The Corporation has a share repurchase program, effective January 1, 2026 through December 31, 2026, that was authorized by the Board of Directors to repurchase up to $5.0 million of the Corporation’s common stock (the 2026 Repurchase Program). During the third quarter of 2026, the Corporation repurchased 3 shares, or less than $1,000 of its common stock under the 2026 Repurchase Program.

About C&F Financial Corporation. The Corporation’s common stock is listed for trading on The Nasdaq Stock Market under the symbol CFFI. The common stock closed at a price of $107.33 per share on October 23, 2026. At September 30, 2026, the book value per share of the Corporation was $82.66 and the tangible book value per share was $74.66. For more information about the Corporation’s tangible book value per share, which is not calculated in accordance with GAAP, please see “Use of Certain Non-GAAP Financial Measures” and “Reconciliation of Certain Non-GAAP Financial Measures,” below.

C&F Bank operates 32 banking offices and six commercial loan offices located throughout Virginia and offers full wealth management services through its subsidiary C&F Wealth Management, Inc. C&F Mortgage Corporation and its subsidiary C&F Select LLC provide mortgage loan origination services through offices located in Virginia and the surrounding states. C&F Finance Company provides automobile loans through indirect lending programs offered primarily in the Mid-Atlantic, Midwest and Southern United States from its headquarters in Henrico, Virginia.

Additional information regarding the Corporation’s products and services, as well as access to its filings with the Securities and Exchange Commission (SEC), is available on the Corporation’s website at http://www.cffc.com.

Use of Certain Non-GAAP Financial Measures. The accounting and reporting policies of the Corporation conform to GAAP in the United States and prevailing practices in the banking industry. However, certain non-GAAP measures are used by management to supplement the evaluation of the Corporation’s performance. These include adjusted net income, adjusted earnings per share, adjusted return on average assets, adjusted return on average equity, net tangible income attributable to the Corporation, return on average tangible common equity (ROTCE), adjusted ROTCE, tangible book value per share, price to tangible book value ratio, and the following fully-taxable equivalent (FTE) measures: interest and fees on loans-FTE, interest and dividends on securities-FTE, total interest income-FTE, net interest income-FTE and net interest income margin-FTE. Interest on tax-exempt loans and securities is presented on a taxable-equivalent basis (which converts the income on loans and investments for which no income taxes are paid to the equivalent yield as if income taxes were paid) using the federal corporate income tax rate of 21 percent that was applicable for all periods presented.

Management believes that the use of these non-GAAP measures provides meaningful information about operating performance by enhancing comparability with other financial periods, other financial institutions, and between different sources of interest income. The non-GAAP measures used by management enhance comparability by excluding the effects of balances of intangible assets, including goodwill, that vary significantly between institutions, and tax benefits that are not consistent across different opportunities for investment. These non-GAAP financial measures should not be considered an alternative to, or more important than, GAAP-basis financial statements, and other bank holding companies may define or calculate these or similar measures differently. A reconciliation of the non-GAAP financial measures used by the Corporation to evaluate and measure the Corporation’s performance to the most directly comparable GAAP financial measures is presented below in the “Reconciliation of Certain Non-GAAP Financial Measures,” “Fully Taxable Equivalent Net Interest Income” and “Tangible Book Value Per Share” tables.

Forward-Looking Statements. This press release contains statements concerning the Corporation’s expectations, plans, objectives or beliefs regarding future financial performance and other statements that are not historical facts, which may constitute “forward-looking statements” as defined by federal securities laws. Forward-looking statements generally can be identified by the use of words such as “believe,” “expect,” “anticipate,” “estimate,” “plan,” “may,” “might,” “will,” “intend,” “target,” “should,” “could,” or similar expressions, are not statements of historical fact, and are based on management’s beliefs, assumptions and expectations regarding future events or performance as of the date of this press release, taking into account all information currently available to management. These statements may include, but are not limited to: statements made in Mr. Cherry’s quotation and statements regarding expected future operations and financial performance; expected trends in yields on loans; expected future recovery of investments in debt securities; future dividend payments and share repurchases; deposit trends; charge-offs and delinquencies; changes in cost of funds and net interest margin and items affecting net interest margin; strategic business initiatives, including our expansion into Lynchburg, Virginia, and the anticipated effects thereof; expected impact of unrealized losses on earnings and regulatory capital of the Corporation or C&F Bank; mortgage loan originations; competition; our loan portfolio; our digital services; the adoption of artificial intelligence; improving operational efficiencies; expectations regarding the runoff of the marine and recreational vehicle portfolio; technology initiatives; our diversified business strategy; asset quality; credit quality; adequacy of allowances for credit losses and the level of future charge-offs; market interest rates and housing inventory and resulting effects on mortgage loan origination volume; sources of liquidity; adequacy of the reserve for indemnification losses related to loans sold in the secondary market; capital levels; the effect of future market and industry trends and conditions; the effects of future interest rate levels and fluctuations; cybersecurity risks; and inflation. These forward-looking statements are subject to significant risks and uncertainties due to factors that could have a material adverse effect on the operations and future prospects of the Corporation including, but not limited to, changes in:

interest rates, such as volatility in short-term interest rates or yields on U.S. Treasury bonds, fluctuations in interest rates following actions by the Federal Reserve and increases or volatility in mortgage interest rates
general business conditions, as well as conditions within the financial markets
general economic conditions, including unemployment levels, inflation rates, supply chain disruptions, slowdowns in economic growth and government shutdowns
general market conditions, including disruptions due to pandemics or significant health hazards, severe weather conditions, natural disasters, terrorist activities, financial crises, political crises, changes in trade policy and the implementation of tariffs, geopolitical tensions, war and other military conflicts (including the conflict in the Middle East and potential associated impacts on interest rates and energy prices) or other major events, or the prospect of these events
average loan yields and securities yields and average costs of interest-bearing deposits and borrowings
financial services industry conditions, including bank failures or rumors of such failures, the soundness of other financial institutions or concerns involving liquidity, along with actions taken by governmental agencies to address such conditions, and the effects on financial institutions, including us, on, among other things, the ability to attract or retain depositors and to borrow or raise capital
labor market conditions, including attracting, hiring, training, motivating and retaining qualified employees
the legislative and regulatory climate, regulatory initiatives with respect to financial institutions, products and services, the Consumer Financial Protection Bureau (the CFPB) and the regulatory and enforcement activities of the CFPB
monetary and fiscal policies of the U.S. Government, including policies of the FDIC, U.S. Department of the Treasury and the Board of Governors of the Federal Reserve System, and the effect of these policies on interest rates and business in our markets
demand for financial services in the Corporation’s market areas
the value of securities held in the Corporation’s investment portfolios
the quality or composition of the loan portfolios and the value of the collateral securing those loans
the inventory level, demand and fluctuations in the pricing of used automobiles, including sales prices of repossessed vehicles
the level of automobile loan delinquencies or defaults and our ability to repossess automobiles securing delinquent automobile finance installment contracts
the level of net charge-offs on loans and the adequacy of our allowance for credit losses
the level of indemnification losses related to mortgage loans sold
demand for loan products
deposit flows
the strength of the Corporation’s counterparties
the availability of lines of credit from the FHLB and other counterparties
competition from both banks and non-banks, including competition in the automobile finance market
services provided by, or the level of the Corporation’s reliance upon, third parties for key services
the commercial and residential real estate markets, including changes in property values
the demand for residential mortgages and conditions in the secondary residential mortgage loan markets
the Corporation’s technology initiatives and other strategic initiatives
the Corporation’s branch expansion, relocation and consolidation plans
cyber threats, attacks or events, including emerging issues related to the development and use of artificial intelligence that could give rise to legal or regulatory action or increase cybersecurity threats
C&F Bank’s product offerings
accounting principles, policies and guidelines, and elections made by the Corporation thereunder.

These risks and uncertainties, and the risks discussed in more detail in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2025 and other reports filed with the SEC should be considered in evaluating the forward-looking statements contained herein. Readers should not place undue reliance on any forward-looking statement. There can be no assurance that actual results will not differ materially from historical results or those expressed in or implied by such forward-looking statements, or that the beliefs, assumptions and expectations underlying such forward-looking statements will be proven to be accurate. Forward-looking statements are made as of the date of this press release, and we undertake no obligation to update or revise any forward-looking statement to reflect events or circumstances arising after the date on which the statement was made, except as otherwise required by law.


C&F Financial Corporation

Selected Financial Information (dollars in thousands, except for per share data) (unaudited)

Consolidated Balance Sheets	9/30/2026			12/31/2025
Assets
Cash and due from banks	$	15,190		$	13,622
Interest-bearing deposits in other banks		30,785			65,510
Total cash and cash equivalents		45,975			79,132
Securities—available for sale at fair value, amortized cost of $483,466 and $471,036, respectively		454,057			458,111
Loans held for sale, at fair value		26,757			40,911
Loans, net of allowance for credit losses of $39,638 and $39,677, respectively		2,104,930			2,014,899
Restricted stock, at cost		5,009			3,680
Corporate premises and equipment, net		42,444			39,200
Other real estate owned, net of valuation allowance of $0 and $215, respectively		—			1,316
Accrued interest receivable		12,310			11,726
Goodwill		25,191			25,191
Other intangible assets, net		834			909
Bank-owned life insurance		21,438			21,808
Net deferred tax asset		17,357			14,039
Other assets		54,886			57,572
Total assets	$	2,811,188		$	2,768,494

Liabilities
Deposits
Noninterest-bearing demand deposits	$	552,739		$	543,673
Savings, money market and interest-bearing demand deposits		878,404			905,683
Time deposits		924,937			896,367
Total deposits		2,356,080			2,345,723
FHLB Advances		65,000			40,000
Subordinated notes		65,519			65,493
Other borrowings		7,576			7,842
Accrued interest payable		4,530			3,745
Other liabilities		43,165			43,343
Total liabilities		2,541,870			2,506,146

Commitments and contingent liabilities

Equity
Common stock ($1.00 par value, 8,000,000 shares authorized, 3,251,123 and 3,245,972 shares issued and outstanding, respectively, includes 98,943 and 100,578 of unvested shares, respectively)		3,152			3,145
Additional paid-in capital		1,803			1,078
Retained earnings		287,599			268,696
Accumulated other comprehensive loss, net		(23,801	)		(11,166	)
Equity attributable to C&F Financial Corporation		268,753			261,753
Noncontrolling interest		565			595
Total equity		269,318			262,348
Total liabilities and equity	$	2,811,188		$	2,768,494


	For The Quarter Ended								For The Nine Months Ended
Consolidated Statements of Income	9/30/2026			6/30/2026			9/30/2025		9/30/2026			9/30/2025
Interest income
Interest and fees on loans	$	36,693		$	35,690		$	34,683	$	107,098		$	100,781
Interest on interest-bearing deposits in other banks		272			471			719		1,394			1,634
Interest and dividends on securities
U.S. treasury, government agencies and corporations		125			181			273		565			840
Mortgage-backed securities		2,507			2,102			1,610		6,269			4,537
Tax-exempt obligations of states and political subdivisions		1,169			1,128			990		3,391			2,854
Taxable obligations of states and political subdivisions		256			213			186		663			578
Corporate and other		554			566			322		1,693			954
Total interest income		41,576			40,351			38,783		121,073			112,178
Interest expense
Savings and interest-bearing deposits		2,260			2,240			2,226		6,763			6,037
Time deposits		7,617			7,526			7,725		22,729			23,236
FHLB advances		322			328			450		1,079			1,337
Subordinated notes		1,139			1,110			1,112		3,351			2,465
Other borrowings		64			57			96		178			411
Total interest expense		11,402			11,261			11,609		34,100			33,486
Net interest income		30,174			29,090			27,174		86,973			78,692
Provision for credit losses		2,750			2,650			2,900		9,000			8,000
Net interest income after provision for credit losses		27,424			26,440			24,274		77,973			70,692
Noninterest income
Gains on sales of loans		1,365			2,436			1,896		6,346			6,201
Interchange income		1,652			1,673			1,610		4,902			4,706
Service charges on deposit accounts		1,123			1,061			1,049		3,204			3,061
Investment income from other equity interests		80			8,332			197		8,784			531
Mortgage banking fee income		757			985			735		2,592			2,193
Wealth management services income, net		917			847			795		2,572			2,283
Mortgage lender services income		907			969			768		2,696			2,066
Other service charges and fees		502			517			520		1,523			1,569
Net losses on sales, maturities and calls of available for sale securities		—			(7,129	)		—		(7,129	)		—
Other income, net		733			2,085			1,274		2,872			3,655
Total noninterest income		8,036			11,776			8,844		28,362			26,265
Noninterest expenses
Salaries and employee benefits		14,758			16,501			14,420		45,616			42,749
Occupancy		2,416			2,402			2,245		7,033			6,537
Data processing		3,421			3,403			3,026		9,999			8,881
Professional fees		785			943			901		2,645			2,823
Insurance expense		481			440			399		1,351			1,306
Marketing and advertising expenses		604			639			660		1,790			1,738
Loan processing and collection expenses		847			918			831		2,638			2,259
Other		1,969			2,101			1,808		5,871			5,686
Total noninterest expenses		25,281			27,347			24,290		76,943			71,979
Income before income taxes		10,179			10,869			8,828		29,392			24,978
Income tax expense		1,922			2,243			1,715		5,715			4,703
Net income		8,257			8,626			7,113		23,677			20,275
Less net income attributable to noncontrolling interest		(18	)		63			38		92			141
Net income attributable to C&F Financial Corporation	$	8,275		$	8,563		$	7,075	$	23,585		$	20,134
Net income per share – basic and diluted	$	2.55		$	2.63		$	2.18	$	7.26		$	6.22

Weighted average shares outstanding – basic and diluted		3,251,418			3,252,163			3,238,057		3,250,699			3,237,256
Dividends declared per share	$	0.48		$	0.48		$	0.46	$	1.44		$	1.38


	For The Quarter Ended										For The Nine Months Ended
Other Performance Data		9/30/2026			6/30/2026			9/30/2025			9/30/2026			9/30/2025
Net income (loss):
Community banking		$	8,914		$	8,173		$	7,378		$	24,197		$	19,939
Mortgage banking			266			1,060			641			2,236			2,057
Consumer finance			303			538			231			760			996
Other¹			(1,226	)		(1,145	)		(1,137	)		(3,516	)		(2,717	)
Total		$	8,257		$	8,626		$	7,113		$	23,677		$	20,275

Mortgage loan originations – mortgage banking:
Purchases		$	158,242		$	209,255		$	148,245		$	510,023		$	447,107
Refinancings			14,519			24,479			18,773			76,074			47,184
Total		$	172,761		$	233,734		$	167,018		$	586,097		$	494,291

Mortgage loans sold – mortgage banking		$	189,666		$	245,729		$	178,035		$	599,915		$	481,344

________________________
¹ Includes results of the holding company that are not allocated to the business segments and elimination of inter-segment activity.


	For the Quarter Ended
	9/30/2026					6/30/2026					9/30/2025
	Average			Yield/		Average			Yield/		Average			Yield/
Yield Analysis	Balance			Rate		Balance			Rate		Balance			Rate
Assets
Loans:
Community banking segment¹	$	1,671,177		5.70	%	$	1,631,487		5.61	%	$	1,538,149		5.60	%
Mortgage banking segment		37,526		6.50			53,878		6.09			37,596		6.60
Consumer finance segment		453,770		10.59			459,447		10.55			463,761		10.61
Total loans		2,162,473		6.74			2,144,812		6.68			2,039,506		6.76
Securities – available for sale:
Taxable		349,838		3.94			346,303		3.54			338,354		2.82
Tax-exempt¹		126,802		4.67			127,487		4.47			122,605		4.10
Total securities – available for sale		476,640		4.13			473,790		3.79			460,959		3.16
Interest-bearing deposits in other banks		38,104		2.83			61,530		3.07			74,629		3.83
Total earning assets		2,677,217		6.22			2,680,132		6.09			2,575,094		6.03
Allowance for credit losses		(40,283	)				(40,256	)				(40,389	)
Total non-earning assets		167,386					162,193					156,558
Total assets	$	2,804,320				$	2,802,069				$	2,691,263

Liabilities and Equity
Interest-bearing deposits:
Interest-bearing demand deposits	$	333,619		0.64		$	341,300		0.65		$	312,095		0.57
Savings and money market deposit accounts		553,500		1.23			553,814		1.22			545,055		1.29
Time deposits		923,258		3.27			920,692		3.28			865,439		3.54
Total interest-bearing deposits		1,810,377		2.16			1,815,806		2.16			1,722,589		2.29
Borrowings:
FHLB advances		29,293		4.30			30,165		4.30			40,000		4.40
Subordinated notes		65,516		6.93			65,507		6.78			65,480		6.77
Other borrowings		8,501		2.99			7,784		2.94			19,832		1.92
Total borrowings		103,310		5.86			103,456		5.77			125,312		5.30
Total interest-bearing liabilities		1,913,687		2.36			1,919,262		2.35			1,847,901		2.50
Noninterest-bearing demand deposits		566,391					567,762					555,090
Other liabilities		45,802					44,379					43,054
Total liabilities		2,525,880					2,531,403					2,446,045
Equity		278,440					270,666					245,218
Total liabilities and equity	$	2,804,320				$	2,802,069				$	2,691,263
Net interest income
Interest rate spread				3.86	%				3.74	%				3.53	%
Interest expense to average earning assets				1.69	%				1.68	%				1.79	%
Net interest margin (FTE)				4.53	%				4.41	%				4.24	%

________________________
¹Interest on tax-exempt loans and securities is presented on a taxable-equivalent basis using the federal corporate income tax rate of 21 percent that was applicable for all periods presented. For more information about these non-GAAP financial measures, please see “Use of Certain Non-GAAP Financial Measures” and “Reconciliation of Certain Non-GAAP Financial Measures.”


	For the Nine Months Ended
	9/30/2026					9/30/2025
	Average			Yield/		Average			Yield/
Yield Analysis	Balance			Rate		Balance			Rate
Assets
Loans:
Community banking segment¹	$	1,635,395		5.63	%	$	1,501,919		5.57	%
Mortgage banking segment		43,376		6.08			34,898		6.50
Consumer finance segment		459,213		10.60			464,487		10.56
Total loans		2,137,984		6.71			2,001,304		6.74
Securities – available for sale:
Taxable		347,044		3.53			339,938		2.71
Tax-exempt¹		128,645		4.45			120,653		3.99
Total securities – available for sale		475,689		3.78			460,591		3.05
Interest-bearing deposits in other banks		59,536		3.13			59,633		3.66
Total earning assets		2,673,209		6.11			2,521,528		5.99
Allowance for credit losses		(40,351	)				(40,759	)
Total non-earning assets		166,741					156,147
Total assets	$	2,799,599				$	2,636,916

Liabilities and Equity
Interest-bearing deposits:
Interest-bearing demand deposits	$	341,931		0.67		$	319,039		0.64
Savings and money market deposit accounts		552,664		1.22			519,113		1.16
Time deposits		917,638		3.31			839,431		3.70
Total interest-bearing deposits		1,812,233		2.18			1,677,583		2.33
Borrowings:
FHLB advances		32,784		4.34			40,044		4.40
Subordinated notes		65,507		6.83			54,038		6.09
Other borrowings		8,039		2.96			29,326		1.87
Total borrowings		106,330		5.77			123,408		4.55
Total interest-bearing liabilities		1,918,563		2.37			1,800,991		2.49
Noninterest-bearing demand deposits		564,371					556,305
Other liabilities		44,666					41,622
Total liabilities		2,527,600					2,398,918
Equity		271,999					237,998
Total liabilities and equity	$	2,799,599				$	2,636,916
Net interest income
Interest rate spread				3.74	%				3.50	%
Interest expense to average earning assets				1.70	%				1.78	%
Net interest margin (FTE)				4.41	%				4.21	%

_______________________
¹Interest on tax-exempt loans and securities is presented on a taxable-equivalent basis using the federal corporate income tax rate of 21 percent that was applicable for all periods presented. For more information about these non-GAAP financial measures, please see “Use of Certain Non-GAAP Financial Measures” and “Reconciliation of Certain Non-GAAP Financial Measures.”


Asset Quality	9/30/2026			12/31/2025
Community Banking
Total loans	$	1,693,098		$	1,590,301
Nonaccrual loans	$	1,101		$	1,135
Allowance for credit losses (ACL)	$	17,807		$	17,418
Nonaccrual loans to total loans		0.07	%		0.07	%
ACL to total loans		1.05	%		1.10	%
ACL to nonaccrual loans		1,617.35	%		1,534.63	%
Annualized year-to-date net charge-offs to average loans		0.00	%		0.01	%

Consumer Finance
Total loans	$	451,470		$	464,275
Nonaccrual loans	$	919		$	1,022
Repossessed assets	$	782		$	937
ACL	$	21,831		$	22,259
Nonaccrual loans to total loans		0.20	%		0.22	%
ACL to total loans		4.84	%		4.79	%
ACL to nonaccrual loans		2,375.52	%		2,177.98	%
Annualized year-to-date net charge-offs to average loans		2.61	%		2.59	%


Market Ratios	9/30/2026		12/31/2025
Market value per share	$	97.97	$	72.59
Book value per share	$	82.66	$	80.64
Price to book value ratio		1.19		0.90
Tangible book value per share¹	$	74.66	$	72.60
Price to tangible book value ratio¹		1.31		1.00
Price to earnings ratio (ttm)		10.50		8.76

________________________
¹ For more information about these non-GAAP financial measures, please see “Use of Certain Non-GAAP Financial Measures” and “Reconciliation of Certain Non-GAAP Financial Measures.”


							Minimum Capital
Capital Ratios	9/30/2026			12/31/2025			Requirements³
C&F Financial Corporation¹
Total risk-based capital ratio		15.7	%		15.2	%		8.0	%
Tier 1 risk-based capital ratio		12.7	%		12.2	%		6.0	%
Common equity tier 1 capital ratio		11.6	%		11.0	%		4.5	%
Tier 1 leverage ratio		10.5	%		10.0	%		4.0	%

C&F Bank²
Total risk-based capital ratio		15.0	%		14.8	%		8.0	%
Tier 1 risk-based capital ratio		13.8	%		13.6	%		6.0	%
Common equity tier 1 capital ratio		13.8	%		13.6	%		4.5	%
Tier 1 leverage ratio		11.3	%		11.1	%		4.0	%

________________________
¹   The Corporation, a small bank holding company under applicable regulations and guidance, is not subject to the minimum regulatory capital regulations for bank holding companies. The regulatory requirements that apply to bank holding companies that are subject to regulatory capital requirements are presented above, along with the Corporation’s capital ratios as determined under those regulations.
²   All ratios at September 30, 2026 are estimates and subject to change pending regulatory filings. All ratios at December 31, 2025 are presented as filed.
³   The ratios presented for minimum capital requirements are those to be considered adequately capitalized.


	For The Quarter Ended												For The Nine Months Ended
	9/30/2026				6/30/2026				9/30/2025				9/30/2026				9/30/2025
Reconciliation of Certain Non-GAAP Financial Measures
Adjusted Net Income and Adjusted Earnings Per Share
Net income, as reported	$	8,257			$	8,626			$	7,113			$	23,677			$	20,275
Gain on sale of other equity interest¹		–				(6,375	)			–				(6,375	)			–
Loss on securities portfolio restructuring²		–				5,632				–				5,632				–
Adjusted net income	$	8,257			$	7,883			$	7,113			$	22,934			$	20,275

Weighted average shares – basic and diluted		3,251,418				3,252,163				3,238,057				3,250,699				3,237,256

Earnings per share – basic and diluted, as reported	$	2.55			$	2.63			$	2.18			$	7.26			$	6.22
Gain on sale of other equity interest¹		–				(1.96	)			–				(1.96	)			–
Loss on securities portfolio restructuring²		–				1.73				–				1.73				–
Adjusted earnings per share – basic and diluted	$	2.55			$	2.40			$	2.18			$	7.03			$	6.22

Adjusted Net Income, Community Banking Segment
Net income, community banking segment, as reported	$	8,914			$	8,173			$	7,378			$	24,197			$	19,939
Gain on sale of other equity interest¹		–				(6,375	)			–				(6,375	)			–
Loss on securities portfolio restructuring²		–				5,632				–				5,632				–
Adjusted net income, community banking segment	$	8,914			$	7,430			$	7,378			$	23,454			$	19,939

Adjusted Return on Average Equity (ROE)
Average total equity, as reported	$	278,440			$	270,666			$	245,218			$	271,999			$	237,998

Annualized ROE, as reported		11.86		%		12.75		%		11.60		%		11.60		%		11.36		%
Adjusted annualized ROE		11.86		%		11.65		%		11.60		%		11.24		%		11.36		%

Adjusted Return on Average Assets (ROA)
Average total assets, as reported	$	2,804,320			$	2,802,069			$	2,691,263			$	2,799,599			$	2,636,916

Annualized ROA, as reported		1.18		%		1.23		%		1.06		%		1.13		%		1.02		%
Adjusted annualized ROA		1.18		%		1.13		%		1.06		%		1.09		%		1.02		%

Return on Average Tangible Common Equity
Average total equity, as reported	$	278,440			$	270,666			$	245,218			$	271,999			$	237,998
Average goodwill		(25,191	)			(25,191	)			(25,191	)			(25,191	)			(25,191	)
Average other intangible assets		(843	)			(868	)			(985	)			(869	)			(1,049	)
Average noncontrolling interest		(471	)			(626	)			(538	)			(623	)			(702	)
Average tangible common equity	$	251,935			$	243,981			$	218,504			$	245,316			$	211,056

Net income	$	8,257			$	8,626			$	7,113			$	23,677			$	20,275
Amortization of intangibles		25				25				63				75				188
Net income attributable to noncontrolling interest		18				(63	)			(38	)			(92	)			(141	)
Net tangible income attributable to C&F Financial Corporation	$	8,300			$	8,588			$	7,138			$	23,660			$	20,322

Adjusted net income	$	8,257			$	7,883			$	7,113			$	22,934			$	20,275
Amortization of intangibles		25				25				63				75				188
Net income attributable to noncontrolling interest		18				(63	)			(38	)			(92	)			(141	)
Adjusted net tangible income attributable to C&F Financial Corporation	$	8,300			$	7,845			$	7,138			$	22,917			$	20,322

Annualized return on average equity, as reported		11.86		%		12.75		%		11.60		%		11.60		%		11.36		%
Annualized return on average tangible common equity		13.18		%		14.08		%		13.07		%		12.86		%		12.84		%
Adjusted annualized return on average tangible common equity		13.18		%		12.86		%		13.07		%		12.45		%		12.84		%

_______________
¹ Sale of other equity interest is net of related income tax expense of $1.9 million for the first nine months of 2026.
² Securities portfolio restructuring is net of related income tax benefit of $1.5 million for the first nine months of 2026.


	For The Quarter Ended									For The Nine Months Ended
	9/30/2026			6/30/2026			9/30/2025			9/30/2026			9/30/2025
Fully Taxable Equivalent Net Interest Income¹
Interest and fees on loans	$	36,693		$	35,690		$	34,683		$	107,098		$	100,781
FTE adjustment		47			49			52			142			148
FTE interest and fees on loans	$	36,740		$	35,739		$	34,735		$	107,240		$	100,929

Interest and dividends on securities	$	4,611		$	4,190		$	3,381		$	12,581		$	9,763
FTE adjustment		311			298			266			900			760
FTE interest and dividends on securities	$	4,922		$	4,488		$	3,647		$	13,481		$	10,523

Total interest income	$	41,576		$	40,351		$	38,783		$	121,073		$	112,178
FTE adjustment		358			347			318			1,042			908
FTE interest income	$	41,934		$	40,698		$	39,101		$	122,115		$	113,086

Net interest income	$	30,174		$	29,090		$	27,174		$	86,973		$	78,692
FTE adjustment		358			347			318			1,042			908
FTE net interest income	$	30,532		$	29,437		$	27,492		$	88,015		$	79,600

Net interest margin		4.47	%		4.35	%		4.19	%		4.35	%		4.17	%
FTE adjustment		0.06	%		0.06	%		0.05	%		0.06	%		0.04	%
FTE net interest margin		4.53	%		4.41	%		4.24	%		4.41	%		4.21	%

________________
¹ Assuming a tax rate of 21%.


	9/30/2026			12/31/2025
Tangible Book Value Per Share
Equity attributable to C&F Financial Corporation	$	268,753		$	261,753
Less goodwill		(25,191	)		(25,191	)
Less other intangible assets		(834	)		(909	)
Tangible equity attributable to C&F Financial Corporation	$	242,728		$	235,653

Shares outstanding		3,251,123			3,245,972

Book value per share	$	82.66		$	80.64
Tangible book value per share	$	74.66		$	72.60


Contact:	Jason Long, CFO
	(804) 843-2360

This press release was published by a CLEAR® Verified individual.

Posted in UncategorizedTagged GlobeNewswire