SUI · 10-Q · 2026Q1 · Full report

Foreign Exchange Exposure

SUN COMMUNITIES INC · 2026-04-28 · Importance 77 · Surprise 82

Foreign currency movements materially impacted results: the company recorded a $24.5 million loss on foreign currency exchanges in Q1 2026 versus an $8.7 million gain in Q1 2025, driven primarily by USD/GBP fluctuations. FX swings are highlighted as an item excluded from Core FFO adjustments (foreign currency gain/loss added back $24.5 million in Core FFO reconciliation). The UK operations and reported UK results are sensitive to pound sterling movements, prompting constant‑currency presentation for Same Property UK metrics. Management identifies FX volatility as a significant driver of period‑to‑period non‑operating results.

Key facts

• Gain/(loss) on foreign currency exchanges for the three months ended March 31, 2026 was a loss of $24.5 million compared to a gain of $8.7 million in 2025.
• British pound sterling figures in the prior comparative period have been translated at an average exchange rate of $1.3478 USD per pound sterling during the three months ended March 31, 2026 for UK Same Property comparisons.
• The filing lists changes in foreign currency exchange rates, including between the U.S. dollar and each of the British pound sterling, Canadian dollar, and Australian dollar, as a risk factor.

Impact estimates