Company: PSA-PH
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0000950170-25-046747
Chunk: 60

Company: Public Storage
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 60
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, the Company achieved TSR equal to 122% of the weighted average TSR of the Company’s self-storage peers and equal to 105% of the

#### Public Storage | 2025 Proxy Statement |57
Proposal 2: Approve Executive Compensation

weighted average TSR of the S&P 500 Equity REITs. As a result, the CHC Committee certified performance of these goals at 150% and 100% of target, respectively.

| Three-Year Performance Period                      |     |                             |     | Three-Year Performance Period    |     |                             |
| 60% TSR vs. Self-Storage Peers (EXR, CUBE, NSA)(1) 
 Weighted Average                                   |     | Award                       
 (as a Percentage of Target) |     | 40% TSR vs. S&P 500 Equity REITs 
 Weighted Average                 |     | Award                       
 (as a Percentage of Target) |
| <80%                                               |     | 0%                          |     | <80%                             |     | 0%                          |
| 80% – <90%                                         |     | 25%                         |     | 80% – <90%                       |     | 25%                         |
| 90% – <100%                                        |     | 75%                         |     | 90% – <100%                      |     | 75%                         |
| 100% – <106%                                       |     | 100%                        |     | 100% – <106%                     |     | 100%                        |
| 106% – <116%                                       |     | 125%                        |     | 106% – <116%                     |     | 125%                        |
| 116% – 125%                                        |     | 150%                        |     | 116% – 125%                      |     | 150%                        |
| >125%                                              |     | 200%                        |     | >125%                            |     | 200%                        |
| Actual Result – 122%                               |     | 150%                        |     | Actual Result – 105%             |     | 100%                        |

(1)Life Storage was removed from this group as a result of its acquisition by Extra Space in 2023.

Accordingly, the CHC Committee certified total weighted performance at 130% of target and the following AO LTIP Units and LTIP Units earned by each NEO, in each case