Company: PSA-PH
Filing Date: 2025-06-26
Form Type: 424B5
Source: 0001193125-25-147817
Chunk: 85

Company: Public Storage
Filing Date: 2025-06-26
Form: 424B5
Chunk 85
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 the applicable debt securities, which provisions, including defined terms, are incorporated by reference in this prospectus. Capitalized terms used but not defined in this section shall have the meanings assigned to those terms in the Indenture. The following description of debt securities describes general terms and provisions of the series of debt securities to which any prospectus supplement may relate. When the debt securities of a particular series are offered for sale, the specific terms of such debt securities will be described in the applicable prospectus supplement. If any particular terms of such debt securities described in a prospectus supplement are inconsistent with any of the terms of the debt securities generally described in this prospectus, then the terms described in the applicable prospectus supplement will supersede the terms described in this prospectus. General We may issue an unlimited principal amount of debt securities under the Indenture. The Indenture provides that debt securities of any series may be issued up to the aggregate principal amount which may be authorized from time to time by us. Please read the applicable prospectus supplement relating to the debt securities of the particular series being offered thereby for the specific terms of such debt securities, including, where applicable:

| • |     | the title of the series of debt securities and whether the debt securities are senior or subordinated; |

| • |     | the aggregate principal amount of debt securities of the series and any limit thereon; |

| • |     | whether such debt securities are to be issuable in global form or in registered securities; |

| • |     | the date or dates, or the method or methods, if any, by which such date or dates shall be determined, on which we                    
 will pay the principal of and premium, if any, on debt securities of the series, or the method used to determine such date or dates; |

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| • |     | the rate or rates, which may be fixed or variable, at which debt securities of the series will bear interest, if 
 any, or the method or methods, if any, used to determine such rate or rates;                                     |

| • |     | the basis used to calculate interest, if any, on the debt securities of the series if other than a 360-day year of twelve 30-day months; |

| • |     | the date or dates, if any, from which interest on the debt securities of the series will accrue, or the method or 
 methods, if any, used to determine such date or dates;                                                            |

| • |     | the