Company: PSA-PH
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0000950170-25-046747
Chunk: 6

Company: Public Storage
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 6
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 strategy and communication efforts                                                                                              |
| BALANCE SHEET                                                                                                                                                                                    |     |                                                                                                                                         |     |                                                                                                                                                                             |
| Low leverage, high permanent capital balance sheet supports adaptation to evolving risk environments, provides stability, and enables execution of Public Storage’s long-term corporate strategy |     |                                                                                                                                         |     |                                                                                                                                                                             |

Engagement of Company Leadership

Our senior management team actively manages our risks and opportunities. The Company has a dedicated Sustainability Committee comprising our CEO and other senior executives across functions including executive management, enterprise risk management, internal audit, real estate, operations, human resources, finance, legal, construction, design, and investor relations. The Sustainability Committee assists executive management in identifying the risks and opportunities we face, including with respect to climate change and human capital management; setting our general sustainability strategy; implementing initiatives and policies based on that strategy; overseeing communications with our stakeholders; and assessing developments relating to, and improving the Company’s understanding of, sustainability matters.

The Sustainability Committee reports to and receives guidance from our Board, including through formal reporting to the Nominating, Governance, and Sustainability (NGS) Committee, Audit Committee, and CHC Committee, in addition to regular reporting to the rest of the Board. For a discussion of how our Board and its committees oversee our sustainability program, see “Corporate Governance—Board Committees” below.

#### Public Storage | 2025 Proxy Statement |5

#### 2024 Highlights
Our Environmental Practices

Public Storage is committed to continuing to enhance the environmental sustainability of our Company. We consider potential environmental impacts—both positive and negative—in our decision-making. Our efforts to be a responsible steward of the environment are supported by the structural advantages of our business model, including properties designed to have low obsolescence and high structural resilience, retaining functional and physical usefulness over many decades. We also strive to do our part in mitigating the impact of climate change. Over the past several years, we have taken proactive measures to improve our understanding and management of risks and opportunities related to climate change and resource management.

We are pleased to present the following highlights for 2024:

| Scope 1 and Scope 2 Greenhouse Gas Reduction Target of 45%                                                               |
| Adopted a new, ambitious emissions reduction target by 2032Calculated on an intensity basis and based on a 2022 baseline |

| Benchmarking                                                                                |                                             |     |                                 |     |                    |
| We achieve consistently strong sustainability ratings across leading benchmarks, including: |                                             |     |                                 |     |                    |