NOTICE OF REDEMPTION
TO THE HOLDERS OF THE 6.75% SERIES C CUMULATIVE
REDEEMABLE PERPETUAL PREFERRED STOCK AND DEPOSITARY
SHARES OF EQUITY LIFESTYLE PROPERTIES, INC.
CUSIP NUMBERS: 29472R306 (Series C Preferred Stock)
29472R405 (Depositary Shares)
August 22, 2017
NOTICE IS HEREBY GIVEN THAT, pursuant to Section 5 of the Articles Supplementary
filed with the Maryland State Department of Assessments and Taxation on September 11,
2012 (the “Articles Supplementary”) of Equity LifeStyle Properties, Inc. (the “Company”), the
Company has elected to redeem on September 25, 2017 (the “Redemption Date”), all of its issued
and outstanding 6.75% Series C Cumulative Redeemable Perpetual Preferred Stock (the “Series C
Preferred Stock”), which is represented by Depositary Shares (the “Depositary Shares”). Each
Depositary Share represents 1/100 of a share of Series C Preferred Stock. After the Redemption
Date, no Series C Preferred Stock and no Depositary Shares will remain outstanding.
The holder of the Series C Preferred Stock will receive from the Company cash in the amount of
$2,500 per share, plus all accrued and unpaid dividends up to, but not including, the Redemption
Date in an amount equal to $40.3125 per share of Series C Preferred Stock, for a total payment of
$2,540.3125 per share of Series C Preferred Stock (the “Series C Preferred Stock Redemption
Price”). The holders of the Depositary Shares will receive cash from the holder of the Series C
Preferred Stock in the amount of $25.00 per Depositary Share, plus all accrued and unpaid dividends
up to, but not including, the Redemption Date in an amount equal to $0.403125 per Depositary Share,
for a total payment of $25.403125 per Depositary Share (the “Depositary Share Redemption
Price”). From and after the Redemption Date, dividends on the Series C Preferred Stock and the
Depositary Shares, respectively, will cease to accrue and the only remaining right of the holders of
the Series C Preferred Stock and the Depositary Shares will be to receive payment of the Series C
Preferred Stock Redemption Price and the Depositary Share Redemption Price, respectively. All of
the Depositary Shares being called for redemption are held of record by Cede & Co., as nominee of
The Depositary Trust Company ("DTC"). Accordingly, the Depositary Shares will be redeemed in
accordance with the applicable procedures of DTC.
The Redemption Agent for redemption of the Series C Preferred Stock and the Depositary Shares is:
American Stock Transfer & Trust Company, LLC
Operations Center
Attention: Reorganization Department
6201 15th Avenue
Brooklyn, NY 11219
(800) 937-5449
