National Storage Affiliates Trust · NYSE:NSA
National Storage Affiliates Trust — Merger or Acquisition (March 2026)
12 slides from National Storage Affiliates Trust's merger presentation, Mar 16, 2026
Slide 1: March 2026 Field Employee Town Hall Presentation
March 2026 Field Employee Town Hall Presentation
Slide 2: Cautionary Statement Regarding Forward-Looking Statements
Cautionary Statement Regarding Forward - Looking Statements This communication contains “forward - looking statements” within the meaning of Section 27A of the Securities Act of 1933, as ame nded (the “Securities Act”), and in Section 21E of the Securities Exchange Act of 1934, as amended, which are
Slide 3: Creating a Strong and Efficient Self-Storage Leader with Increased Scale
Creating a Strong and Efficient Self - Storage Leader with Increased Scale 3
Slide 4: What We Announced
What We Announced Transaction brings together complementary portfolios to create a stronger operating platform with greater reach across key markets NSA has entered into a definitive agreement to be acquired by Public Storage 4
Slide 5: Transaction benefits: scale, complementary markets, joint venture structure, synergies
• Further advances leading owned + operated self - storage platform • Unifies multiple brands under the #1 recognized name in storage • Expands industry's deepest datasets Category Leading Scale & Brand • Wholly - owned portfolio (46% of NSA assets) deepens exposure to Sunbelt and core markets • Imm
Slide 6: How We Got Here
How We Got Here NOW IS THE RIGHT TIME TO TAKE THE NEXT STEP FORWARD WITH PUBLIC STORAGE We’ve built a solid foundation, establishing ourselves as a leader in self - storage This required resilience and effort across the organization. As a result, we are STRONGER thanks to YOUR hard work and dedicati
Slide 7: Public Storage Brings Scale, Resources, Global Expertise
Public Storage Brings SCALE. RESOURCES. GLOBAL EXPERTISE. Together, we will be a stronger company better positioned to serve our customers and communities Public Storage is the Right Partner for NSA’s Future Shared Culture and Values • Public Storage and NSA value integrity , accountability and cust
Slide 8: Growing Sunbelt & Core Markets to Deepen Physical & Digital Presence
Wholly - Owned Portfolio (Pro Forma NOI) Change Combined Company Public Storage Regions +1.0% 38.0% 37.0% Sunbelt (0.6%) 48.9% 49.5% Coastal (0.4%) 13.1% 13.5% Midwest Increase Combined Company Public Storage +30% 4,596 3,533 Total Properties +27% 328 million 258 million Total Square Feet +15% 3,659
Slide 9: What This Means For You
It is business as usual. No changes to rental agreements, unit access or account details Transaction is expected to close in the third quarter of 2026 , subject to approvals NSA and Public Storage will continue to operate as separate, independent companies You should not expect changes to your compe
Slide 10: Your Role
Your Role Stay focused on delivering for our customers and communities Only share approved information No social media posts about the deal Only approved spokespeople can talk on behalf of NSA 10
Slide 11: Transaction Milestones
Transaction Milestones Transaction Announcement MARCH 16, 2026 Transaction Close Q3 2026 Time between announcement and close • Business as usual • Operating as separate and independent companies • Integration planning to ensure smooth transition • Continuing to deliver for our customers and communit
Slide 12: rk NSA
rk NSA STORAGE
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