Company: PSA-PH
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0000950170-25-046747
Chunk: 5

Company: Public Storage
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 5
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 face, including environmental, social, economic, political, data security and privacy, reputational, and other risks. In addition to addressing these risks, we seek out and capitalize on emerging sustainability-related opportunities.

For detailed information regarding our sustainability efforts, strategies, commitments, and progress, including with respect to environmental, social, and governance issues, please refer to our 2024 Sustainability Report, which is available on our website at publicstorage.com. Our 2024 Sustainability Report is not incorporated by reference into this proxy statement.

Our Strategic Focus on Sustainable Long-Term Growth and Value Creation

We operate our business with a long-term focus, and our strategy prioritizes the Company’s resilience and performance in the decades to come.

#### 4| Public Storage | 2025 Proxy Statement

#### 2024 Highlights
The following framework underpins our sustainable long-term strategy:

| ENVIRONMENTAL                                                                                                                                                                                    |     | SOCIAL                                                                                                                                  |     | GOVERNANCE                                                                                                                                                                  |
| OPERATIONS                                                                                                                                                                                       |     |                                                                                                                                         |     |                                                                                                                                                                             |
| •Low environmental impact at property and corporate locations                                                                                                                                    
 •Initiatives with a range of sustainability and economic benefits, such as solar, LED lighting, low water use landscaping, and efficient climate controls                                        
 •Low property obsolescence and high resilience                                                                                                                                                   |     | •Focus on stakeholders, including employees, customers, communities, and investors                                                      
 •Company culture built on integrity, diversity and inclusion, accountability, entrepreneurship, and employee engagement and development 
 •Cultural alignment with corporate strategy                                                                                             |     | •Comprehensive Enterprise Risk Management (ERM) framework                                                                                                                   
 •Robust risk management practices, including oversight, succession planning, and compliance                                                                                 
 •Pay-for-performance philosophy                                                                                                                                             |
| CAPITAL ALLOCATION                                                                                                                                                                               |     |                                                                                                                                         |     |                                                                                                                                                                             |
| •Low capital expenditures needed to maintain properties                                                                                                                                          
 •Efficient-system initiatives to reduce energy and water use, carbon emissions, and waste, underwritten and implemented where they make business sense                                           
 •Redevelopment and adaptive reuse of older, less-efficient properties                                                                                                                            |     | •Community solar program helps provide clean energy to communities we serve                                                             
 •Portfolio growth strategy focused on supporting areas with economic and population growth                                              
 •Serve essential-businesses, including health professionals, critical infrastructure sectors, and tradespeople                          |     | •Risk reduction via a culture of risk management accountability, portfolio geographic diversity, cloud-based operating systems, cybersecurity, and data privacy initiatives 
 •Resource allocation towards sustainability