Slide 1: Investor Presentation June 2025
June 2025 Investor Presentation Bis CUBESMART’ self storage
Slide 2: Safe Harbor Statement
Safe Harbor Statement 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 assur
Slide 3: Market value
1. Period ended December 31, 2024 3. Market value of common equity and book value of debt as of March 31, 2025 2. As of March 31, 2025 4. Annual dividends declared for period ended December 31, 2024
Slide 4: CubeSmart: A Compelling Investment
CubeSmart: A Compelling Investment | Built for ¢ rations that Drive Performance | Targeted Ir | Strong Fundamentals, Consistent Performance Why CubeSmart? A company built to perform throughout all phases of the cycle Attractive Industry Well-diversified demand characteristics create strong industry
Slide 5: Strong track record of creating shareholder value and driving performance
Strong track record of creating shareholder value and driving performance President & Chief Financial Chief Legal Chief Executive Officer Officer Officer Average Executive Officer Tenure 1 Years with CubeSmart 1 Years in Self-Storage Chief Human Resources Officer Years at 17 publicly- traded REITs E
Slide 6: Strong Corporate Governance
CubeSmart: A Compelling Investment | Built for Growth | Operations that Drive Performance | Targeted Invest | Strong Fundamentals, Consistent Performanc Strong Corporate Governance Supporting the long-term interests of all shareholders Board Practices Governance = The Board is composed of nine Trust
Slide 7: A History of Growth
CubeSmart: A Compelling Investment | Built for ¢ Operations that Drive Performance | Targeted Ir | Strong Fundamentals, Consistent Performar A History of Growth Consistent execution on strategic objectives T a Cs fe PF 7 H ! eee STORAGE DEDUKE Maa ae it ri Vf | USTOREIT | Soe | | i StorageWest HELPM
Slide 8: Quality-Driven Value Creation Strategy
CubeSmart: A Compelling Investment | Built for ¢ Operations that Drive Performance | Targeted Ir | Strong Fundamentals, Consistent Performance Quality-Driven Value Creation Strategy Focus on quality throughout the platform Quality Platform Sophisticated, fully integrated platform focused on providin
Slide 9: Total return versus storage REIT average
1. Period ended December 31, 2024 Source: S&P Global Capital IQ, storage REIT straight average total return for CUBE, PSA, & EXR
Slide 10: Built for Growth, Industry Backdrop
Built for Growth, Industry Backdrop 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 will reduce new deliveries, creating a tailwind for operation
Slide 11: Portfolio map, three months ended March 31, 2025
1. For the three months ended March 31, 2025 2. Map reflects portfolio as of March 31, 2025
Slide 12: Total owned portfolio
1. Source: Evercore ISI Research Report dated March 20, 2025 2. Total owned portfolio NOI for the three months ended March 31, 2025, market ranking by population per US Census Bureau
Slide 13: Total portfolio NOI
1. Total portfolio NOI for the three months ended March 31, 2025 3. Source: 2025 Self-Storage Almanac 2. Source: CubeSmart internal market research
Slide 14: Sophisticated Operating Platform Drives Efficiencies
CubeSmart: A Compelling Investment | Built for Growth | Operations that Drive Performance | Targeted |r ist undamentals, Consistent Performa Sophisticated Operating Platform Drives Efficiencies Foundation of propriety solutions creates flexibility for the future =, Technological Platform Sophisticat
Slide 15: Operating data for full year ended December 31, 2024
1. Data for full year ended December 31, 2024
Slide 16: Multi-Faceted External Growth Strategy Creates Long-Term Value
CubeSmart: A Compelling Investme Targeted Investments Multi-Faceted External Growth Strategy Creates Long-Term Value Building our portfolio through strategic investment and growth High-Quality Acquisitions | Value-Add Joint Ventures Target acquisitions of well Generate outsized returns, positioned,
Slide 17: Robust Portfolio Growth
CubeSmart: A Compelling Investment | Built for Growth | Operations that Drive Performance | Targeted Investments | Strong Fundamentals, Consistent Performance Robust Portfolio Growth Strategically increasing the size of the platform Multi-faceted growth strategy, leveraging all avenues to enhance 1.
Slide 18: Acquisitions as of March 31, 2025
1. As of March 31, 2025 2. Since 2010
Slide 19: Unconsolidated joint ventures
1. Unconsolidated joint ventures as of March 31, 2025. Excludes two unconsolidated joint ventures acquired as a part of the Storage West transaction.
Slide 20: Development deliveries
1. Development deliveries as of March 31, 2025 (does not include C/O acquisitions) 2. As of March 31, 2025
Slide 21: Third-party management as of March 31, 2025
1. As of March 31, 2025 2. For the year ended December 31, 2024
Slide 22: Target markets
▪ Minneapolis Hartford Chicago Stamford ▪ Philadelphia DC Suburbs ▪ Phoenix Atlanta Dallas ▪ Austin Jacksonville ▪ Houston Tampa Naples ▪ ▪ ▪
Slide 23: Balance sheet metrics
1. Period ended December 31, 2024 Metrics as of March 31, 2025
Slide 24: Year-to-date and 2025 outlook
▪ ▪ ▪ ▪ 1. Year-to-date as of March 31, 2025 2. Outlook last updated as of our earnings release dated May 1, 2025
Slide 25: Results for the 2025 same-store pool
1. Results for the 2025 same-store pool
Slide 26: Average annual FFO, as adjusted, per share growth versus peers
1. Represents average annual FFO, as adjusted, per share growth for the one-, two-, and three-year periods ended December 31, 2024. Peer group is comprised of EXR, PSA, and NSA.
Slide 27: Long-Term Cash Flow Growth
CubeSmart: A Compelling Investment | Built for Growth | Operations that Drive Performance | Targeted Investments | Strong Fundamentals, Consistent Performance Long-Term Cash Flow Growth A consistent history of sharing our growth with our shareholders $3.00 $2.50 $2.00 $1.50 $1.00 $0.50 $0.00 FFO, as
Slide 28: Market cap weighted total shareholder return
1. Market cap weighted total shareholder return for PSA and EXR as of December 31, 2024
Slide 29: Why CubeSmart?
Why CubeSmart? 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