Company: NSA-PB
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001628280-25-015431
Chunk: 21

Company: National Storage Affiliates Trust
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 21
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, thoughtful and inclusive operations and support them with:

– A Code of Business Conduct and Ethics.

– A Whistleblower Policy with reporting facilities and protections.

– The Guidelines, which support our corporate governance framework.

– A Vendor Code of Conduct to help extend the reach of our standards across our value chain.

– An insider trading policy governing our trustees, officers and employees.

• We administer many programs to support and get the best from our employees so they can provide the best service to our customers and support our communities. Highlights include:

| NATIONAL STORAGE AFFILIATES 2025 PROXY STATEMENT |     | 28 |

– A fully funded health care option for our corporate employees.

– Wellness reimbursement benefit.

– A 401(k) retirement savings plan with an employer match contribution.

– Employee assistance program.

– Employee discount programs.

– A variety of professional development support programs.

– A compassion fund to enable employees to support each other in times of need with an employer match.

– A performance-based bonus incentive plan for our corporate and managerial employees.

– Charitable, corporate and employee contributions to a wide range of programs and communities.

### HOW WE DID
Self storage is a sector that feels the cyclical effects of a variety of headwinds and tailwinds including housing market changes; shifts in the sources, nature, number, quality, and locations of jobs; demographics changes (up-sizing, downsizing, family composition changes); factors affecting or limiting new construction and permitting; and supply chain disruptions. While we have a long-term perspective and make strategic decisions and assess performance over periods longer than a year, a few highlights of our performance in 2024 are below, which we were able to accomplish even though the macro environment was more challenging.

• Acquired 25 self storage facilities in 2024 for an aggregate investment of approximately $212.7 million, of which seven wholly-owned self storage facilities were acquired on balance sheet for approximately $64.9 million and the remaining 18 self storage facilities were acquired through our joint venture formed in 2023 ("2023 Joint Venture") for approximately $147.9 million, which constitute the first properties acquired by the 2023 Joint Venture.

• Sold 40 wholly-owned non-core self storage properties to unaffiliated third parties in 2024 for net proceeds of approximately $273.1 million.

• Completed the internalization of our PRO structure effective as of July 1, 2024, pursuant to which we purchased the PROs' management contracts, certain of their intellectual property