EXR: Leadership change · Company disclosure

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On August 24, 2026, Extra Space Storage Inc. (the “Company”) announced that Joseph D. Margolis, the Company’s Chief Executive Officer, will retire effective as of December 31, 2026. The Company also announced that, in connection with Mr. Margolis’ planned retirement, the Company’s board of directors selected W. Noah Springer, the Company’s current President, to succeed Mr. Margolis as Chief Executive Officer. Mr. Springer will assume the responsibilities of Chief Executive Officer and will join the Company’s board of directors beginning January 1, 2027. Mr. Margolis will remain a director on the Company’s board until December 31, 2026, after which he will serve as an advisor to the board. Mr. Springer, 47, has served as the Company’s President since January 2026, with responsibility for the Company’s operations, human resources, third party management and joint venture departments. Mr. Springer previously served as the Company’s Executive Vice President, Chief Strategy and Partnership Officer since 2020. Mr. Springer has been with the Company since 2006 and has served in various roles with increasing responsibility in acquisitions, third-party management and asset management. Mr. Springer helped create Extra Space Storage’s third-party management platform, and he has managed the Company's joint venture platforms. He has a B.A. in Finance and an M.B.A. degree from the University of Utah. Mr. Springer’s annual base salary will be $850,000 following his appointment as the Company’s Chief Executive Officer. In addition, he will remain eligible for an annual bonus, equity awards and other employee benefits in accordance