PSA: Company disclosure · Other company developments

Item 7.01 Regulation FD Disclosure. On June 1, 2026, Public Storage (the “Company”) posted on the Investor Relations section of its website a presentation (the “Investor Presentation”) it intends to use at an upcoming investor conference. Item 8.01 Other Events. The Investor Presentation includes the following operating update for the periods from April 1 through May 28, 2026 and 2025. Same Store Facilities Operating Update (a) Period Ended May 28, 2026 2025 Change (b) (Amounts in thousands, except for per square foot amounts) Customers moving in during the period: Average annual contract rent per square foot (c) $ 13.10 $ 13.13 (0.2)% Customers moving out during the period: Average annual contract rent per square foot (c) $ 18.98 $ 19.79 (4.1)% Same Store Churn (d) 16.4% 19.6% (3.2)% Weighted average square foot occupancy for the period 92.2% 92.1% 0.1% Please see “Analysis of Same Store Revenue” under “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s Quarterly Report on Form 10-Q for the period ended March 31, 2026 for further information with respect to the various factors that affect the Company’s revenues. (a) The Same Store Facilities consist of 2,755 facilities (192.1 million net rentable square feet) that have been owned and operated on a stabilized basis since January 1, 2024. (b) Represents the absolute nominal change with respect to same store churn and square foot occupancy, and the percentage change with respect to all other items. (c) Annual contract rent represents the agreed upon monthly rate that is paid by the Company’s customers in place at the time of measurement. Contract rates are initially set in the lease agreement upon move-in and the Company adjusts them from time to time with notice. Contr