Company: PSA-PH
Filing Date: 2025-09-29
Form Type: 424B5
Source: 0001193125-25-223346
Chunk: 157

Company: Public Storage
Filing Date: 2025-09-29
Form: 424B5
Chunk 157
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it this amount to the IRS. Specific wash sale rules applicable to sales of shares in a domestically-controlled REIT could result in gain recognition, taxable under FIRPTA, upon the sale of our common shares even if we are a domestically-controlled qualified investment entity. These rules would apply if a non-U.S.shareholder (1) disposes of our common shares within a 30-dayperiod preceding the ex-dividenddate of a distribution, any portion of which, but for the disposition, would have been taxable to such non-U.S.shareholder as gain from the sale or exchange of a USRPI, (2) acquires, or enters into a contract or option to acquire, other common shares during the 61-dayperiod that begins 30 days prior to such ex-dividenddate, and (3) if our common shares are “regularly traded” on an established securities market in the United States, such non-U.S.shareholder has owned more than 10% of our outstanding common shares at any time during the one-yearperiod ending on the date of such distribution. 61

If gain on the sale or exchange of our common shares by a non-U.S.shareholder were subject to taxation under FIRPTA, the non-U.S.shareholder generally would be subject to regular U.S. federal income tax with respect to any gain on a net basis in the same manner as a taxable U.S. shareholder, subject to any applicable alternative minimum tax and special alternative minimum tax in the case of nonresident alien individuals. In addition, the transferee of such stock may, in certain circumstances, be required to withhold at least 15% of the proceeds of any such sale or exchange. However, the non-U.S.shareholder generally may seek a refund of these amounts from the IRS if the non-U.S.shareholder’s U.S. tax liability with respect to the distribution is less than the amount withheld. Withholding on Payments to Certain Foreign Entities. The Foreign Account Tax Compliance Act (“FATCA”) imposes a 30% withholding tax on certain types of payments made to “foreign financial institutions” and certain other non-U.S.entities unless certain due diligence, reporting, withholding, and certification requirements are satisfied. Under the applicable Treasury regulations and administrative guidance, FATCA imposes a 30% withholding tax on dividends on, and (subject to the proposed Treasury regulations discussed below) gross proceeds from the sale or other disposition of, our shares if paid to a foreign entity unless: (i) the foreign entity is a “foreign financial institution