Public Storage — Jul 29, 2026 release

We expect to generate approximately $110 million to $130 million of run-rate synergies within the next three to four years, driven by enhanced customer experience, NOI opportunity, tenant reinsurance uplift, and G&A savings. The transaction is expected to be accretive to FFO per share within the first year of closing, and to deliver approximately $0.35 to $0.50 per share in annualized FFO accretion upon the full realization of stabilized synergies. Additional information related to NSA’s second quarter 2026 performance can be found in the quarterly financial supplement published on the Company's Investor Relations website. PS Canada: On June 22, 2026, the Company entered into an agreement to acquire PS Canada for US$1.2 billion, consisting of approximately $889 million of Public Storage OP units and approximately $310 million in cash. The portfolio consists of 68 properties totaling 5.3 million square feet. The acquisition of PS Canada represents a strategic opportunity to expand the Public Storage platform into major Canadian markets with attractive long-term fundamentals. This portfolio includes high-quality real estate in key markets, carries the Public Storage brand, and offers meaningful upside through our PS Next™ operating platform. The transaction is expected to close in the third quarter of 2026. Acquisitions: During the quarter, we acquired 20 self-storage facilities with 1.5 million net rentable square feet for $222.5 million. For the six months ended June 30, 2026, and including activity subsequent to quarter end, not including PS Cana