Here is a quick example of how the IP addressing works both on the Azure Service Manager (ASM) Classic Portal (https://manage.windowsazure.com) and the Azure Resource Manager (ARM) Portal (https://portal.azure.com)
DIP = Dynamic IP Address, IP address given to each virtual machine. This can be set to static “DHCP reservation” (don’t configure this address within the virtual machine itself as you will loose access)
PIP or ILPIP= Instance Level Public IP is directly attached to a VM. Example of use: Passive FTP server that needs large amount of ports open.
VIP = Public facing Virtual IP assigned to a cloud service from a Pool of IP’s managed by Microsoft (assignment -geo-political region)
EP = End Point
Note: Always check https://azure.microsoft.com for up to date information
Shabir Yusuf 