Company: PSA-PH
Filing Date: 2025-06-26
Form Type: 424B5
Source: 0001193125-25-147817
Chunk: 53

Company: Public Storage
Filing Date: 2025-06-26
Form: 424B5
Chunk 53
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EU) No 600/2014 as it forms part of domestic law by virtue of the EUWA; or |

| iii. | not a qualified investor as defined in Article 2 of the Prospectus Regulation as it forms part of domestic law 
 by virtue of the EUWA (the “UK Prospectus Regulation”);                                                        |

| (b) | the expression an “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. |

S-33

Each person in the UK 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 UK Prospectus Regulation; and (2) not a “retail investor” (as defined above). 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 UK. Consequently no key information document required by the PRIIPs Regulation as it forms part of domestic law by virtue of the EUWA (the “UK PRIIPs Regulation”) for offering or selling the notes or otherwise making them available to retail investors in the UK has been prepared and therefore offering or selling the notes or otherwise making them available to any retail investor in the UK may be unlawful under the UK PRIIPs Regulation. Notice to Prospective Investors in France Neither this prospectus supplement nor any other offering material relating to the notes described in this prospectus supplement has been or will be submitted to the clearance procedures of the Autorité des Marchés Financiersor of the competent authority of another member state of the European Economic Area and notified to the Autorité des Marchés Financiers. The notes have not been offered or sold and will not be offered or sold, directly or indirectly, to the public in France. Neither this prospectus supplement nor any other offering material relating to the notes has been or will be:

| • |     | released, issued, distributed or caused to be released, issued or distributed to the public in France; or |

| •