Public Storage Releases 2022 Sustainability Report

Public Storage (NYSE:PSA) announced today the release of its 2022 Sustainability Report detailing how the Company’s engaged and diverse team, innovative and sustainable operations, and financial fortitude continue positioning Public Storage for long-term resilience, growth, and value creation.

Sustainability highlights include:

• Recognition by Forbes and Statista as one of “America’s Best Large Employers” and by Comparably as a “Choice Employer” with an “A+” culture based on employee feedback;

• Creating new career paths that bolster employee satisfaction through greater role specialization and upward mobility for the property manager and customer care center teams;

• Increasing diversity representation in the management ranks and formalizing a diversity-hiring policy, thereby strengthening an already diverse and inclusive culture that is 68% female and 52% people of color;

• Reducing energy consumption, carbon emission, water consumption, and waste production by 5% and 22%, on average, over the past one and three years, respectively, through proactive environmental initiatives; and

• Formalizing oversight of sustainability initiatives by clarifying the allocation of responsibilities across the Board of Trustees’ committees.

“Our nearly 2,800 properties and 5,800 employees are serving our customers and communities with a focus on enhancing our industry-leading digital customer experience, growing through acquisitions, development, and third-party management, and bolstering the resilience of our properties and Company,” said Joe Russell, Chief Executive Officer. “We are pleased to share our progress, commitments, and outlook in the 2022 Sustainability Report.”

The report is available on the Sustainability section of PublicStorage.com.

Company Information

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At March 31, 2022, we had: (i) interests in 2,797 self-storage facilities located in 39 states with approximately 199 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self-Storage SA (Euronext Brussels:SHUR), which owned 254 self-storage facilities located in seven Western European nations with approximately 14 million net rentable square feet operated under the Shurgard® brand, and (iii) an approximate 41% common equity interest in PS Business Parks, Inc. (NYSE:PSB), which owned and operated approximately 27 million rentable square feet of commercial space at March 31, 2022. Our headquarters are located in Glendale, California.

Additional information about Public Storage is available on the Company’s website at PublicStorage.com.

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