Company: NSA-PB
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001628280-25-015431
Chunk: 62

Company: National Storage Affiliates Trust
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 62
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 | 1,723,108 |

(3) For each of 2020, 2021 and 2022, the NEOs included in this calculation are as follows: Mr. Nordhagen, Mr. Cramer and Mr. Togashi; for 2023, the NEOs included in this calculation are as follows: Mr. Togashi, Mr. Cowan, and Ms. Kenyon; and for 2024, the NEOs included in this calculation are as follows: Ms. Fischer, Mr. Togashi, Mr. Cowan, and Ms. Kenyon (collectively, as applicable, the "Other NEOs").

(4) The peer group utilized for the Peer Group TSR is the Nareit All Equity REIT Index.

Set forth below is a list of the three most important financial performance measures used to link executive compensation actually paid to our NEOs during 2024 to Company performance.

• Core FFO per share

• Same Store NOI

| NATIONAL STORAGE AFFILIATES 2025 PROXY STATEMENT |     | 55 |

• the Company's TSRas compared to the MSCI US REIT Index and as compared to the Peer Group 3-Year Weighted Average TSR.

Set forth below are charts showing the following relationships for each of 2020, 2021, 2022, 2023 and 2024. For 2023, the compensation actually paid to our PEO shown below consists of 25% of Ms. Fischer's 2023 compensation actually paid and 75% of Mr. Cramer's 2023 compensation actually paid, to reflect the change in our PEO that occurred on April 1, 2023.

• The relationship between our PEO and Other NEO compensation actually paid as compared to the Company's cumulative TSR and the Nareit All Equity REIT Index cumulative TSR, in each case as shown in the above table.

• The relationship between our PEO and Other NEO compensation actually paid as compared to the Company's net income.

• The relationship between our PEO and Other NEO compensation actually paid as compared to the Company's Core FFO per share.

| NATIONAL STORAGE AFFILIATES 2025 PROXY STATEMENT |     | 56 |

| NATIONAL STORAGE AFFILIATES 2025 PROXY STATEMENT |     | 57 |

| CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS |

#### MATERIAL BENEFITS TO RELATED PARTIES

#### Internalization of our PRO Structure