Company: PSA-PH
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0000950170-25-046747
Chunk: 42

Company: Public Storage
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 42
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 Apple App Store versus a 3.8 rating, on average, for the less comprehensive apps of our public self-storage REIT peers 
 •Achieved average of 4.7 out of 5.0 stars from customers in Google Reviews                                                                                                                                                                                                                                                                                          
 •Realized tenant insurance revenue of more than $200 million                                                                                                                                                                                                                                                                                                        |

#### Public Storage | 2025 Proxy Statement |41
Proposal 2: Approve Executive Compensation

| Multi-Factor Acceleration of Portfolio Growth                                                                                                                                                               |
| •Acquired 22 properties, adding 1.7 million square feet to our portfolio at a total cost of $267.5 million                                                                                                  
 •Delivered 16 developed and redeveloped properties at a total cost of $343.4 million—adding 1.5 million square feet to our portfolio—through the only in-house development program among self-storage REITs 
 •Maintained a development pipeline comprising 4.0 million square feet at a total cost of $741.6 million for future growth and value creation                                                                
 •Added 210 properties to our third-party management platform in 2024; this platform has grown 109% since 2022                                                                                               |

| Our Growth-Oriented Balance Sheet                                                                                                                     |
| •Issued $1.0 billion of senior notes to refinance our capital stack and fund portfolio growth                                                         
 •Implemented the Company’s first “at the market” (ATM) common equity program as an additional capitalization tool                                     
 •Maintained a growth-oriented balance sheet—one of the strongest in the REIT industry—at 3.9x net debt plus preferred to trailing twelve month EBTIDA 
 •Only U.S. REIT to achieve Moody’s A2 and S&P A credit ratings                                                                                        |

| Our People                                                                                                                                                                                                                                                                          |
| •Recognized as a Great Place to Work® for a third consecutive year                                                                                                                                                                                                                  
 •Reduced voluntary property level turnover by 700 basis points, or 14.3%, from 2023                                                                                                                                                                                                 
 •Maintained a diverse workforce comprising approximately 63% females and 52% people of color                                                                                                                                                                                        
 •Continued our focus on leadership development opportunities, graduating additional classes of leaders in our Preparing the Path™ leadership accelerator program and in our District Manager-in-Training program, providing a career path from property manager to district manager 
 •Continued our employee-driven Community Connects™ charitable giving program                                                                                                                                                                                                        |

#### 42| Public Storage | 2025 Proxy Statement
Proposal 2