Slide 1: June 2022 Investor Presentation
June 2022 Investor Presentation Cu self storage
Slide 2: Safe Harbor Statement
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Slide 3: Introduction to CubeSmart
1. As of March 31, 2022 2. Period ending December 31, 2021 3.Market value of common equity and book value of debt as of March 31, 2022 4.Annual dividends declared in period ending December 31,2021 3 Introduction to CubeSmart A high-quality portfolio in an attractive industry with proven returns
Slide 4: Why CubeSmart?
Why CubeSmart? A company built to perform throughout all phases of the cycle Attractive Industry Cash Flow Stability Focus on Quality Experience Well-diversified Industry-leading portfolio Continuing tog row the A well-seasoned demand characteristics demographics and aplatform through high manageme
Slide 5: CubeSmart's History
offering grade unsecured senior management team avvard for Best Customer establish the thir-d-party CubeSmar·t location as CubeSmart rental platform, Deluxe portfolio located Storage Wesl porlrolio CubeSmart's History A history of executing on strategic objectives 2004U-Store-lt initial public 2012I
Slide 6: Attractive Industry
Dynamic Demand Wide ra ng e of n eeds d riv es d ema nd for the product thro ug hout a ll economic cycle s High Margins Low e xp ense loa d & c a p-ex r equire ments drive more c as h flow to the bottom line Short-Term Leases Month - to - month l eases a llow for ra pid repric i n g in re s pon s e
Slide 7: Cash Flow Stability
markets across 38 states coverage across all attractive the portfolio, our customer providing diversification MSAs store's local community an d L------------------------------------------------------------------------------7 Cash Flow Stability National scale with a focused concentration in key mark
Slide 8: Diversified Portfolio in Quality Markets
Focus on Top Markets 89% of owned store NOI comes from top-40 MSAs 1 Portfolio Exposure Exposure to secondary and tertiary markets through our third-party management program and joint ventures further diversify the portfolio and leverage our operating platform 1. For the three months ending March 31
Slide 9: 1. Source: Evercore ISI Research Report dated March 18, 2022 2. Total owned portfolio
1. Source: Evercore ISI Research Report dated March 18, 2022 2. Total owned portfolio NOI for the three months ending March 31, 2022 11% 11% 59% 19%
Slide 10: Market Leader in New York City
long-term strategy 1. Source C>.DeSm<rt lntEmOI rnort<•tr..,.,a-<1\ 2. Source. 2022 Sef·Smr•AI""""" 3. Tpon:toio NOI for thethreemonths erdng MarCI\31,2022 Market Leader in New York City NYC competitive advantage is a key component of our Best-In Class Portfolio Unique Submarkets Our NYC stores make
Slide 11: Value Creation Strategy
Value Creation Strategy Focus on quality drives long-term shareholder value 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 s trategy to
Slide 12: Operating Platform
Platform I Portfolio I Balance Sheet I Company the future sophisticated historical Operating Platform Foundation of proprietary solutions creates flexibility for Technological Platform Invest in foundational systems to provide scalability Customer Capture Attract the greatest share of demand across
Slide 13: 1. Data for full year ending December 31, 2021
1. Data for full year ending December 31, 2021
Slide 14: Redefining the Customer Experience
Platform I Portfolio I Balance Sheet I Company Redefining the Customer Experience Meeting the changing needs of our customers Leveraging Digital Platforms Replicate the in-person experience across all customer touch po ints Omni-Channel Experience A fully integrated experience where customers can se
Slide 15: External Growth Strategy
Platform I Portfolio I Balance Sheet I Company 15 External Growth Strategy Enhancing our portfolio through strategic external growth opportunities High-Quality Acquisitions Development & Lease-Up Value-Add Joint Ventures Third-Party Management Target acquisitions of well Build and acquire purpose G
Slide 16: Multi-Faceted Growth Strategy
Platform I Portfolio I Balance Sheet I Company Multi-Faceted Growth Strategy Continue to utilize wide variety of avenues to grow the portfolio Brand Awareness Si nce 2010, incre a sed stores on the pla tform by 179°/o Customer Data Points The consistent growth in Cu beSma rt stores has subst a nt i
Slide 17: Acquisitions
l'lalform I l'orlfolio I Balance Sreel I Company 83% of acquisitions since 2010 in top 25 MSAs $3.0B of wholly-owned acquisitions since 20171 $1.5B of acquisitions from third party management2 17 1. Includes SO% interest in two unconsolidated joint ventures as part of the Storage West transaction 2
Slide 18: Development
P.atform I Portfolio I Balance Sheet I Company $628M of new projects delivered1 $92M of new projects in the pipeline2 100% of new development in top 1 0 markets 1. Oevelopm ent deliveries as of March 31, 2022 (does not include C/0 acquisitions) 2. As of March 31,2022 18 Development Strategic partner
Slide 19: Joint Venture Advantages
Platform I Portfolio I Balance Sheet I Company 5 diff eren t ventures 1 $999M joint venture inves tment1 88 t ot a l p ro pe rties 1 1. As of March 31,2022. Excludes 2 unconso l idated joint ventures acqu d as a part of the Sto rage West transaction 19 ire Joint Venture Advantages Strategic investme
Slide 20: Third-Party Management
Platform I Portfolio I Balance Sheet I Company 664 pro p ert i es1 $31M ma n agement fee inc ome2 200+ pa rtnershi ps1 1. As of Ma rch 31, 2022 2. For the yea r e nding Decem ber 31, 2021 20 Third-Party Management Mutually beneficial relationships drive additional long-term value to our shareholders
Slide 21: Financial Strength
Platform I Portfolio I Balance Sheet I Company 100. 0% 80. 0% ensuring access to a variety of attractively-priced capital •Unsecured Debt &POOR'S [Stable] [Stable] 7.0x 2.0x 1. Source: Company Filings, as of December 31of each stated year 2. Calculated as annual EBITDA I Interest Expense 21 Financia
Slide 22: 1. As of March 31, 2022 •• •• • • • •• •
1. As of March 31, 2022 •• •• • • • •• •
Slide 23: Experienced Management
Platform I Portfolio I Balance Sheet I Company Named Executive Officers 14years with CubeSmart 20years in self storage 21years at publicly-traded REITS 23 Experienced Management Lengthy track record of experience through all phases of the cycle 2.5Funds from Operations, as Adjusted 2 1.5 0.5 0 20112
Slide 24: Sharing Cash Flow Growth
Platform I Portfolio I Balance Sheet I Company 1. Annualized assuming no change i n current dividend rate 24 Sharing Cash Flow Growth Consistent history of dividend increases to return capital to investors Annual Dividend per Share $2.00+391 °/o $1.80 $1.60 $1.40 $1.20 $1.00 $0.80 $0.60 $0.40 $0.20
Slide 25: Environmental Highlights
sustainability .il' r.c ;rw<'{ lu ud sl r ca i.l r iecllu ;, J l::i:;\ .,,.:;1.. s::J ::; emi siu·1s. ' ::.t::: re::.. ·:·tsten·s.\·Vh ·c, will sig(·if cilr ::)''V r·es a 11,' '"V.r: .1'-<r•.:-Ic·r-l''ke GHG en·is'or ·. u. Ll·:.;e l.:.:r :::,). r.r:::du e;,: /.f.) Mi.lion \•'•.'" 18.8o/: i1 rc<J:oc
Slide 26: Social Highlights
Platform I Portfolio I Balance Sheet I Company e of defines Policy prohibits Social Highlights Investing in our team and communities Engagement & DevelopmentDiversity, Equity, and Inclusion We value our teammates' We believe our business is better becaus engagement. In 2021, our annual the diversity
Slide 27: Strong Corporate Governance
Platform | Portfolio | Balance Sheet | Company Strong Corporate Governance Supporting the long-term interest of all shareholders Board Practices Shareholder Rights Separate Board Chair & Chief Executive Officer = Annual election of Regular executive sessions of independent Trustees Trustees Annual B
Slide 28: Operational Performance
96.0% 2.9°/o Expense growth 21.4°/o 92.0% 90 . 0% JanFebMar AprMay Jun Jul AugSepOctNov Dec 1. Same-store results for the three months ending March 31, 2022 28 Operational Performance Strong fundamentals provide strong outlook for future growth Same-Store Rentals Same-Store Vacates 25,000 25,000 20,