Company: PSA-PH
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0000950170-25-046747
Chunk: 8

Company: Public Storage
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 8
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 to the total well-being of all our employees and provides resources to help them achieve their goals and support them in times of need. We provide comprehensive health plan benefits to our employees and their dependents, including tools and resources designed to empower our employees to achieve a healthy and balanced lifestyle.

We believe thatIt’s Great To Be Orange™. Employee engagement is fundamental to our understanding of the effectiveness of our human capital management strategies. We conduct various surveys that assess commitment, motivation, and engagement, as well as soliciting broader employee feedback, which we use to help us improve.

#### Public Storage | 2025 Proxy Statement |7

#### 2024 Highlights
Our employee engagement efforts have also led to recognition outside of Public Storage. We are proud to be named a Great Place to Work®, as rated by our employees, for the third year in a row. We have also been recognized by Comparably, Inc. as a “Choice Employer” with an “A+” Culture Score based on employee responses across 18 culture metrics, among other recognitions.

Responsible Governance Practices

Public Storage’s commitment to the highest ethical standards is the foundation of an effective governance structure that provides oversight and accountability, promotes fairness and compliance, and proactively manages risk. Good governance is critical to our operational, financial, and reputational resilience.

Our Board oversees senior management to ensure the long-term interests of the Company and our stakeholders are best served. Our trustees take a proactive, focused approach to their oversight responsibilities. Our corporate governance is structured to foster principled actions, informed and effective decision making, and appropriate monitoring of performance, risk, and compliance. Trustee decisions are governed by the Corporate Governance Guidelines and Trustees’ Code of Ethics, in addition to individual committee charters.

#### 8| Public Storage | 2025 Proxy Statement

#### 2024 Highlights
Key aspects of our governance include:

| Company-Wide                                                                           |     | Board Structure and Composition                                                                                       |
| •Strong accountability and oversight                                                   
 •Pay-for-performance compensation philosophy                                           
 •Focus on legal and regulatory compliance                                              
 •ERM program                                                                           |     | •Declassified (annually elected) Board                                                                                
 •83% current independent trustees                                                                                     
 •Lead independent trustee                                                                                             
 •Separate Chairman and CEO positions                                                                                  
 •Active Board refreshment (five trustee nominees have joined the Board since 2020)                                    
 •All Audit Committee members are financial experts                                                                    
 •Trustees may not serve on more than three public company boards (including the Board) without NGS