Company: PSA-PH
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0000950170-25-046747
Chunk: 89

Company: Public Storage
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 89
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 the year ending December 31, 2025. The Audit Committee believes that the selection of EY is in the best interests of the Company and its shareholders and has recommended that the Board submit the appointment of EY to the Company’s shareholders for ratification.

Although we are not required to seek shareholder ratification of the appointment of EY as the independent registered public accounting firm, Public Storage is asking its shareholders to do so because it believes that shareholder ratification of the appointment is a matter of good corporate practice. Ratification of the appointment of EY requires approval by a majority of the votes cast at the meeting. For these purposes, abstentions will not be counted. If the shareholders do not ratify the appointment of EY, the Audit Committee will reconsider whether or not to retain EY as the independent registered public accounting firm for Public Storage, but may nevertheless determine to do so. Even if the shareholders ratify the appointment of EY, the Audit Committee may change the appointment at any time during the year if it determines that a change would be in the best interest of Public Storage and its shareholders.

A representative of EY will be present at our Annual Meeting, where the representative will be afforded an opportunity to make a statement and to respond to appropriate questions.

Fees Billed to the Company by EY for 2024 and 2023

The following table shows the fees billed or expected to be billed to Public Storage by EY for audit and other services provided for 2024 and 2023:

|                    |     |   |     |      2024 |     |   |     |      2023 |
|:-------------------|:----|:--|:----|----------:|:----|:--|:----|----------:|
| Audit Fees         |     | $ |     | 1,894,000 |     | $ |     | 1,600,000 |
| Audit-Related Fees |     | $ |     |         — |     | $ |     |         — |
| Tax Fees           |     | $ |     |   185,000 |     | $ |     |   151,000 |
| All Other Fees     |     | $ |     |         — |     | $ |     |         — |
| Total              |     | $ |     | 2,079,000 |     | $ |     | 1,751,000 |

Audit Fees.Audit fees represent fees for professional services provided in