Company: PSA-PH
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0000950170-25-046747
Chunk: 115

Company: Public Storage
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 115
---
 and amortization expense         |     |      |  6.56 |   |
| Deduct gains on disposition of real estate investments |     |      | (0.01 | ) |
| Eliminate foreign currency and other noncore items     |     |      | (0.52 | ) |
| Core FFO per share                                     |     | $    | 16.67 |   |

#### A-2| Public Storage | 2025 Proxy Statement
Appendix B:

Amended and Restated

Public Storage 2021 Equity

and Performance-Based

Incentive Compensation Plan

| APPENDIX B: Full Text of the Amended and Restated Public Storage 2021 Equity and Performance-Based Incentive Compensation Plan |

#### Public Storage | 2025 Proxy Statement | B-1
Appendix B: Amended and Restated 2021 Plan

<div align='center'>AMENDED AND RESTATED PUBLIC STORAGE

2021 EQUITY AND PERFORMANCE-BASED INCENTIVE COMPENSATION PLAN</div>

1. GENERAL PURPOSES OF THE PLAN; DEFINITIONS

The purposes of this Plan are to enhance the Company’s ability to attract and retain highly qualified officers, directors, key employees, and other persons, and to motivate such persons to serve the Company and its Affiliates to improve the business results and earnings of the Company, by providing to such persons an opportunity to acquire or increase a direct proprietary interest in the operations and future success of the Company.

The following terms shall be defined as set forth below:

“Affiliate” means (i) any entity that is, directly or indirectly, controlled by the Company, including a Subsidiary, and (ii) any other entity in which the Company has a significant equity interest or which has a significant equity interest in the Company, in either case as determined by the Committee.

“Annual Incentive Award” means an Award made for achieving performance goals over a performance period of up to one year (the Company’s fiscal year, unless otherwise specified by the Committee).

“Award” means a grant of an Option, Stock Appreciation Right, Restricted Stock, Unrestricted Stock, Stock Unit, Dividend Equivalent Rights, or cash award under the Plan.

“Award Agreement” means the written agreement between the Company and a Participant that sets out the terms and conditions of an Award.

“Board” means the Board of Trustees of the Company.

“Cause” means any of the following that the Committee determines may materially injure the financial