Slide 1: May 2026 Investor Presentation
May 2026 Investor Presentation C self storage
Slide 2: Safe Harbor Statement and Use of Non-GAAP Financial Measures
2 The forward-looking statements contained in this presentation are subject to various risks and known and unknown uncertainties. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, there can be no assurance that the Compan
Slide 3: Introduction to CubeSmart
Introduction to CubeSmart 3 A high-quality portfolio in an attractive industry with proven returns 1. Period ended December 31, 2025 2. As of March 31, 2026 3. Market value of common equity and book value of debt as of March 31, 2026 4. Annual dividends declared for period ended December 31, 2025 1,
Slide 4: Why CubeSmart?
Why CubeSmart? 4 A company built to perform throughout all phases of the cycle Attractive Industry Well-diversified demand characteristics create strong industry fundamentals High Quality Portfolio Growing the platform through high-quality investments creating industry-leading portfolio demographics
Slide 5: Experienced Management Team
5 Experienced Management Team Strong track record of creating shareholder value and driving performance Years with 15 CubeSmart Years in 16 Self-Storage Years at publicly-traded REITs 18 Christopher Marr President & Chief Executive Officer Tim Martin Chief Financial Officer Jeffrey Foster Chief Lega
Slide 6: Strong Corporate Governance
6 Strong Corporate Governance Supporting the long-term interests of all shareholders Board Practices The Board is composed of nine Trustees, including eight independent Trustees Separate Board Chair & Chief Executive Officer Regular executive sessions of independent Trustees Annual Board & C
Slide 7: A History of Growth
A History of Growth Consistent execution on strategic objectives U-Store-It initial public offering 2004 2010 2011 2018 2021 2025 Acquired United Stor-All to establish the third-party management program Acquired 22-store Storage Deluxe portfolio located primarily in NYC for $560 million Opened 1,000
Slide 8: Quality-Driven Value Creation Strategy
Quality-Driven Value Creation Strategy 8 Focus on quality throughout the platform Quality Platform Sophisticated, fully integrated platform focused on providing flexible and efficient service delivery to maximize property cash flows over the long term Quality Portfolio Disciplined investment strateg
Slide 9: Attractive Industry Dynamics
Attractive Industry Dynamics 9 Strong sector fundamentals generate outsized long-term returns Dynamic Demand Wide range of needs drives demand for the product throughout all economic cycles Increasing Utilization Newly identified sources of demand have increased utilization and product awareness Hig
Slide 10: Industry Backdrop
Industry Backdrop 10 Current industry backdrop sets the stage for long-term future growth Fragmentation Fragmented ownership creates further opportunity for external growth and consolidation New Supply Development headwinds are reducinig new deliveries, creating a tailwind for operational performanc
Slide 11: Diversified Portfolio in Quality Markets
Diversified Portfolio in Quality Markets 11 National platform focused in core markets drives long-term value Owned NOI from top-40 MSAs1 States with Managed Stores Only States with Owned Stores 91% 197 Markets 41 States (& Washington DC) National Scale Exposure to secondary and tertiary markets thro
Slide 12: Industry-Leading Demographics Generate Long-Term Value
Industry-Leading Demographics Generate Long-Term Value 12 Quality market focus creates a strong demand backdrop and cash flow stability 1. Source: Evercore ISI Research Report dated March 19, 2026 2. Total owned portfolio NOI for the three months ended March 31, 2026, market ranking by population pe
Slide 13: New York City Market Leader
New York City Market Leader 13 Competitive advantage in the largest market is a key component of our long-term strategy Lowest Supplied Market Supply across the three key outer boroughs is 2.8 SF per capita2, the lowest nationally and less than half the national average of 7.2 SF per capita3. Supply
Slide 14: Sophisticated Operating Platform Drives Efficiencies
Sophisticated Operating Platform Drives Efficiencies 14 Foundation of propriety solutions creates flexibility for the future Technological Platform Sophisticated foundational systems provide scalability for a fully-integrated experience across platforms Customer Capture Attract the greatest share of
Slide 15: Cloud-based Data Warehouse and Customer Journey Optimization
Cloud-based Data Warehouse Utilize customer data to further optimize operations Proprietary HIVE Point of Sale System Flexible platform to manage customer interactions across all channels Optimization Throughout the Customer Journey 15 Thoughtful enhancements across all touchpoints for a fully integ
Slide 16: Focus on Efficient Operations
3.1% 4.2% 3.5% 1.2% 2.5% 2.9% 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 2025 3-Year Expense Growth Expense Growth since 2020 Average Same-Store Expense Growth1 Sector Average CUBE +190 bps better +170 bps better +60 bps better 16 1. One- and three-year average annual same-store expense growth as reported f
Slide 17: Multi-Faceted External Growth Strategy Creates Long-Term Value
Multi-Faceted External Growth Strategy Creates Long-Term Value 17 Building our portfolio through strategic investment and growth Development & Lease-Up Build and acquire purpose-built properties in top markets to generate elevated growth over the long term Third-Party Management Drive mutually-benef
Slide 18: Robust Portfolio Growth
Robust Portfolio Growth 18 Strategically increasing the size of the platform Increase in stores on the platform since 2010 230% Customers across the portfolio, a 592k increase from 2010 783k 0 200 400 600 800 1000 1200 1400 1600 1800 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2
Slide 19: Accretive Acquisitions Create Long-Term Value
$6.2B Consolidated acquisitions since 2010 $2.1B Acquisitions from third-party management1 82% Acquisitions in top-25 MSAs1 Accretive Acquisitions Create Long-Term Value 19 Disciplined investment strategy to prudently build our portfolio Strong Demographics Focus on submarkets with attractive demogr
Slide 20: Strategic Joint Ventures Complement our Growth Strategy
Strategic Joint Ventures Complement our Growth Strategy 20 Opportunistic investment with partners adds value to our portfolio strategy $914M Acquired in joint ventures1 48 Properties in existing ventures1 46 Properties acquired from JVs upon exit Strong Returns Fee revenue and promoted interests inc
Slide 21: Targeted Development Creates Long-Term Value
Targeted Development Creates Long-Term Value 21 Enhancing our portfolio in select markets with flagship properties Partner with Local Developers Work with developers that have local market expertise and can source high-quality sites Focus on Top Markets Target projects in irreplicable infill locatio
Slide 22: Third Party Management Generates Additional Growth
Third Party Management Generates Additional Growth 22 Mutually beneficial relationships create long-term value for our shareholders 854 Properties1 $40M Management fee revenue2 265+ Relationships Enhanced Profitability Creates additional revenue streams through management, tenant insurance, and othe
Slide 23: Disciplined Balance Sheet Strategy
Disciplined Balance Sheet Strategy 23 Ensuring stability while funding growth 340,678 415,100 550,000 404,300 350,000 450,000 500,000 450,000 - 200,000 400,000 600,000 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 Debt Maturity Schedule1 (000’s) Secured Debt Unsecured Debt Unsecured Revolving Cr
Slide 24: 2026 Financial Highlights
2026 Financial Highlights 24 0.6% Same-Store Revenue Growth 5.8% Same-Store Expense Growth (1.5)% Same-Store NOI Growth Full Year Outlook2 (0.25%) to 1.25% Same-store revenue growth 3.25% to 4.75% Same-store expense growth (1.75%) to 0.25% Same-store NOI growth $2.52 to $2.60 FFO, as adjusted, per s
Slide 25: Same-Store Operational Update
Same-Store Operational Update 25 88.0% 89.0% 90.0% 91.0% 92.0% 93.0% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Same-Store Occupancy1 2025 2026 0 5,000 10,000 15,000 20,000 25,000 30,000 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Same-Store Rentals1 2025 2026 - 5,000 10,000 15,000 20,000 2
Slide 26: Consistent Earnings Outperformance
Consistent Earnings Outperformance 26 FFO per share growth above the sector average over the past three years Consistent outperformance driven by: Sophisticated Operating Platform Maximizing revenue through innovative & efficient execution Expense Control Sector-leading same-store expense control, 1
Slide 27: Long-Term Cash Flow Growth
Long-Term Cash Flow Growth 27 A consistent history of sharing our growth with our shareholders $- $0.50 $1.00 $1.50 $2.00 $2.50 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Annual Dividend per Share +203% $0.00 $0.50 $1.00 $1.50 $2.00 $2.50 $3.00 2015 2016 2017 2018 2019 2020 2021 2022 202
Slide 28: Why CubeSmart?
Why CubeSmart? 28 A company built to perform throughout all phases of the cycle Attractive Industry Well-diversified demand characteristics create strong industry fundamentals High Quality Portfolio Growing the platform through high-quality investments creating industry-leading portfolio demographic