Company: PSA-PH
Filing Date: 2025-09-29
Form Type: 424B5
Source: 0001193125-25-223346
Chunk: 64

Company: Public Storage
Filing Date: 2025-09-29
Form: 424B5
Chunk 64
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) | not a qualified investor as defined in Article 2 of the Regulation (EU) 2017/1129 (as amended, the 
 “Prospectus Regulation”); and                                                                      |

| (b) | the expression “offer” includes the communication in any form and by any means of sufficient                                                    
 information on the terms of the offer and the notes to be offered so as to enable an investor to decide to purchase or subscribe for the notes. |

Each person in a Relevant State who receives any communication in respect of, or who acquires any notes under, the offers to the public contemplated in this prospectus supplement, or to whom the notes are otherwise made available, will be deemed to have represented, warranted, acknowledged and agreed to and with each underwriter and the Company that it and any person on whose behalf it acquires notes is: (1) a “qualified investor” within the meaning of Article 2(e) of the Prospectus Regulation; and (2) not a “retail investor” (as defined above). Each person in a member state of the EEA to whom any offer of notes is made or who receives any communication in respect of, or who initially acquires any notes under, the offers to the public contemplated in this prospectus, or to whom the notes are otherwise made available will be deemed to have represented, warranted and agreed to and with each of the underwriters and the Issuer that it and any person on whose behalf it acquires notes as a financial intermediary, as that term is used in Article 5 of Regulation (EU) 2017/1129 (as amended, the “Prospectus Regulation”), is not a “retail investor” as defined above. This prospectus supplement and the accompanying prospectus have been prepared on the basis that any offer of notes in any Member State of the EEA will be made pursuant to an exemption under the Prospectus Regulation from the requirement to publish a prospectus for offers of notes. This prospectus supplement and the accompanying prospectus are not a prospectus for the purposes of the Prospectus Regulation. Notice to Prospective Investors in the United Kingdom The notes are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the United Kingdom (“UK”). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client, as defined in point (8) of Article 2 of Regulation (