PSA: Leadership change

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers On August 4, 2026, Public Storage (the “Company”) appointed S. Wade Sheek as the Company’s Chief Legal Officer and Corporate Secretary, effective August 17, 2026. Mr. Sheek recently served as Senior Vice President, Chief Legal Officer and Secretary of Herc Holdings, Inc. As of the effective date of the appointment, Mr. Sheek will replace Nathaniel A. Vitan, the Company’s current Chief Legal Officer and Corporate Secretary. Mr. Vitan will continue to be employed by the Company as a senior advisor until October 1, 2026 to facilitate the transition of these roles to Mr. Sheek. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. PUBLIC STORAGE By: /s/ Nathaniel A. Vitan Nathaniel A. Vitan Date: August 10, 2026 Chief Legal Officer & Corporate Secretary 2