PSA: Other company developments

Item 8.01. Other Events On November 9, 2026, Public Storage (the “Company”) filed a prospectus with the U.S. Securities and Exchange Commission (the “SEC”) relating to the potential resale, from time to time, by the selling securityholders named therein of up to 120,011 common shares of the Company. The common shares may be issued by the Company upon the redemption of limited partnership units of a Company subsidiary held by such selling securityholders. The sole purpose of this Form 8-K is to file as an exhibit the legal opinion related to the prospectus that is required by applicable SEC rules. Item 9.01. Financial Statements and Exhibits (d) Exhibits Exhibit No. 5.1 Opinion of Hogan Lovells Cadwalader US LLP. 23.1 Consent of Hogan Lovells Cadwalader US LLP (included in Exhibit 5.1). 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 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/ S. Wade Sheek S. Wade Sheek Date: November 9, 2026 Chief Legal Officer & Corporate Secretary