Company: PSA-PH
Filing Date: 2025-06-26
Form Type: 424B5
Source: 0001193125-25-147817
Chunk: 56

Company: Public Storage
Filing Date: 2025-06-26
Form: 424B5
Chunk 56
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 not an accredited investor) whose sole purpose is to hold investments and each                                                                                                                                  
 beneficiary of the trust is an individual who is an accredited investor, securities or securities-based derivatives contracts (each term as defined in Section 2(1) of the SFA) of that corporation or the beneficiaries’ rights and interest 
 (howsoever described) in that trust shall not be transferred within 6 months after that corporation or that trust has acquired the notes pursuant to an offer made under Section 275 of the SFA except:                                       |

| i. | to an institutional investor or to a relevant person (as defined in Section 275(2) of the SFA), or to any 
 person arising from an offer referred to in Section 275(1A) or Section 276(4)(c)(ii) of the SFA;          |

| ii. | where no consideration is or will be given for the transfer; |

| iii. | when the transfer is by operation of law; |

| iv. | as specified in Section 276(7) of the SFA; or |

| v. | as specified in Regulation 37A of the Securities and Futures (Offers of Investments) (Securities and 
 Securities-based Derivatives Contracts) Regulations 2018 of Singapore.                               |

Any reference to the “SFA” is a reference to the Securities and Futures Act 2001 of Singapore and a reference to any term as defined in the SFA or any provision in the SFA is a reference to that term or provision as modified or amended from time to time including by such of its subsidiary legislation as may be applicable at the relevant time. S-35

Singapore Securities and Futures Act Product Classification—Solely for the purposes of
its obligations pursuant to Sections 309B(1)(a) and 309B(1)(c) of the SFA, the Issuer has determined, and hereby notifies all relevant persons (as defined in Section 309A(1) of the SFA), that the notes are “prescribed capital markets
products” (as defined in the Securities and Futures (Capital Markets Products) Regulations 2018 of Singapore) and Excluded Investment Products (as defined in MAS Notice SFA 04-N12: Notice on the Sale of
Investment Products and MAS Notice FAA-N16: Notice on Recommendations on Investment Products).

Notice to Prospective Investors in Switzerland

This prospectus supplement is not intended to constitute an offer or solicitation to purchase or invest in