Company: PSA-PH
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0000950170-25-046747
Chunk: 88

Company: Public Storage
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 88
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 limited liability company. These facilities operate under the Public Storage® trade name under a royalty-free, non-exclusive license agreement in place since 1993, when the Hughes family privately owned both the U.S. concern that ultimately became the Public Storage REIT, and the company owning the Canadian facilities.

With respect to this relationship, the Company does not make any payments to the entity that owns the Canadian facilities or its affiliates, and the owner and its affiliates do not make any payments to the Company. Our subsidiaries reinsure risks relating to any loss of goods stored by customers in these facilities and received a portion of the premiums paid by such customers (net of amounts retained by a third party program administrator and insurance company) of approximately $2.2 million for the year ended December 31, 2024. We have a right of first refusal, subject to limitations, to acquire these facilities or the applicable ownership entities if their owners agree to sell them.

#### Public Storage | 2025 Proxy Statement |81
Additional Information About Trustees, Executive Officers, and Management

Trademark Agreement and Transactions with Shurgard.Pursuant to a trademark license agreement, we receive monthly royalty fees from Shurgard for the use of the Shurgard® tradename equal to 1% of Shurgard’s gross revenues. Shurgard paid us $4.3 million for the year ended December 31, 2024, for royalty fees in connection with its use of the Shurgard® tradename.

Common Management/Board Members with Shurgard.Ronald L. Havner, Jr., Chairman of Public Storage, served as Chairman of the Board of Directors of Shurgard until May 2023 and is currently Chairman Emeritus. Tom Boyle, Chief Financial and Investment Officer of Public Storage has served as a director of Shurgard since May 2023.

#### 82| Public Storage | 2025 Proxy Statement
Proposal 3: Ratification of Independent Registered Public Accounting Firm

Proposal 3:

Ratification of

Independent Registered

Public Accounting Firm

#### Public Storage | 2025 Proxy Statement |83
Proposal 3: Ratification of Independent Registered Public Accounting Firm

PROPOSAL 3

RATIFICATION OF INDEPENDENT

REGISTERED PUBLIC ACCOUNTING FIRM

EXECUTIVE SUMMARY

The Audit Committee is responsible for the appointment, compensation, retention, and oversight of the Company’s independent registered public accounting firm. The Audit Committee has appointed EY as the independent registered public accounting firm for Public Storage for