Company: PSA-PH
Filing Date: 2025-06-27
Form Type: 424B5
Source: 0001193125-25-151297
Chunk: 51

Company: Public Storage
Filing Date: 2025-06-27
Form: 424B5
Chunk 51
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 or to whom the notes are otherwise made available, will be deemed to have represented, warranted, acknowledged and agreed to and with each underwriter and the Company that it and any person on whose behalf it acquires notes is: (1) a “qualified investor” within the meaning of Article 2(e) of the Prospectus Regulation; and (2) not a “retail investor” (as defined above). The notes are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the EEA. Consequently, no key information document required by Regulation (EU) No 1286/2014 (as amended, the “PRIIPs Regulation”) for offering or selling the notes or otherwise making them available to retail investors in the EEA has been prepared and therefore offering or selling the notes or otherwise making them available to any retail investor in the EEA may be unlawful under the PRIIPs Regulation. Notice to Prospective Investors in the United Kingdom Each underwriter has represented, warranted and agreed that:

| (a) | it has only communicated or caused to be communicated and will only communicate or cause to be communicated an                                                                                                                            
 invitation or inducement to engage in investment activity (within the meaning of Section 21 of the Financial Services and Markets Act 2000 (“FSMA”)) received by it in connection with the issue or sale of any notes in circumstances in 
 which Section 21(1) of the FSMA does not apply to the Issuer; and                                                                                                                                                                         |

| (b) | it has complied and will comply with all applicable provisions of the FSMA with respect to anything done by it 
 in relation to the notes in, from or otherwise involving the UK.                                               |

This prospectus supplement is only being distributed to, and is only directed at persons who: (i) are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, (as amended, the “Order”); (ii) fall within Article 49(2)(a) to (d) of the Order, (iii) are outside the United Kingdom; or (iv) are persons to whom invitation or inducement to engage in investment activity (within the meaning of section 21 of the FSMA) in connection with the issue or sale of any notes may otherwise lawfully be communicated (all such persons together being referred to as “relevant persons