Shurgard

M&A Activity • Apr 11, 2024

April 11, 2024 at 7.01 a.m. BST

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

"Regulated Information – inside information"

Shurgard Self Storage Ltd ("Shurgard" or the "Company")

Shurgard announces cash acquisition of Lok'n Store Group plc ("Lok'nStore")

Shurgard (Euronext Brussels: SHUR), the largest developer, owner, and operator of self‐storage facilities in Europe, announces a conference call scheduled today at 9:00 a.m. BST (or 8:00 a.m. GMT or 10:00 a.m. CET) to discuss the cash acquisition by the Company of the entire issued and to be issued share capital of Lok'nStore Group plc (the "Acquisition"), which has been announced today under Rule 2.7 of the UK Takeover Code. A copy of the announcement is available here: https://www.shurgard.com/corporate/investors/acquisitions/loknstore

Live conference

European dial-in number: +44 8081011183 International dial-in number: +1 785-424-1744

Belgium: 080072519 France: 0800912273 Germany: 08001862030 Netherlands: 08000225803 U.K.: 08081011183 US: 8778302596

Conference ID: SHURGARD

Please dial in if you have live questions.

Simultaneous audio webcast link:https://www.shurgard.com/corporate/investors/acquisitions/loknstore

Or go on: www.shurgard.com , under "About Shurgard, Investor relations, Investors, Lok'nStore Acquisition"

You will find a Q&A box on the webcast for attendees to submit their questions.

About Shurgard

Shurgard is the largest developer, owner and operator of self storage facilities in Europe. As at December 31, 2023, the Company owned and/or operated 276 self-storage facilities and approximately 1.4 million net rentable square meters in seven countries: France, the Netherlands, the United Kingdom, Sweden, Germany, Belgium and Denmark.

Shurgard is a GRESB 5-star and Sector Leader, has an 'AA' ESG rating from MSCI, is rated Low risk by Sustainalytics and has a EPRA sBPR Gold medal. Shurgard is part of the BEL ESG Index.

Shurgard's European network currently serves c. 190,000 customers. Shurgard is listed on Euronext Brussels under the symbol "SHUR".

For additional information: www.shurgard.com/corporate For high resolution images: https://shurgard.prezly.com/media

Contact

Caroline Thirifay, Director of Investor Relations, Shurgard Self Storage Ltd E-mail: investor.relations@shurgard.co.uk M: +44 75 96 87 57 13

Further information

This announcement is for information purposes only and is not intended to, and does not, constitute or form part of any offer or invitation to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities or the solicitation of any vote or approval in any jurisdiction pursuant to the acquisition or otherwise, nor shall there be any sale, issuance or transfer of securities of Lok'nStore in any jurisdiction in contravention of applicable law. This announcement does not constitute a prospectus or a prospectus exempted document.

Overseas Shareholders

Copies of this press release and any formal documentation relating to the Acquisition are not being, and must not be, directly or indirectly, mailed or otherwise forwarded, distributed or sent in or into or from any jurisdiction where local laws or regulations may result in a significant risk of civil, regulatory or criminal exposure if information concerning the Acquisition is sent or made available to Lok'nStore shareholders in that jurisdiction (a "Restricted Jurisdiction") or any jurisdiction where to do so would constitute a violation of the laws of such jurisdiction and persons receiving such documents (including custodians, nominees and trustees) must not mail or otherwise forward, distribute or send them in or into or from any Restricted Jurisdiction. Doing so may render invalid any related purported vote in respect of acceptance of the Acquisition.

Additional information for U.S. investors

The Acquisition relates to an offer for the shares of a UK company and is being made by means of a scheme of arrangement provided for under English company law. The Acquisition, implemented by way of a scheme of arrangement, is not subject to the tender offer rules or the proxy solicitation rules under the U.S. Securities Exchange Act 1934 (the "US Exchange Act"), as amended. Accordingly, the Acquisition is subject to the disclosure requirements and practices applicable to a scheme of arrangement involving a target company in the UK admitted to trading on AIM, which differ from the disclosure requirements of the U.S. tender offer and proxy solicitation rules. If, in the future, Shurgard exercises its right to implement the Acquisition by way of a takeover offer (as defined in Chapter 3 of Part 8 of the Companies Act 2006) and determines to extend the takeover offer into the U.S., the Acquisition will be made in compliance with applicable U.S. laws and regulations.

In accordance with normal United Kingdom practice and pursuant to Rule 14e-5(b) of the US Exchange Act, Shurgard or its nominees, or its brokers (acting as agents), may from time to time make certain purchases of, or arrangements to purchase, shares or other securities of Lok'nStore outside of the U.S., other than pursuant to the Acquisition, until the date on which the Acquisition and/or a scheme of arrangement becomes effective, lapses or is otherwise withdrawn. These purchases may occur either in the open market at prevailing prices or in private transactions at negotiated prices. Any information about such purchases or arrangements to purchase shall be disclosed as required in the UK, shall be reported to a Regulatory Information Service and shall be available on the London Stock Exchange website at www.londonstockexchange.com.

Publication on a website and availability of hard copies

This announcement will be available, subject to certain restrictions relating to persons resident in Restricted Jurisdictions, on the Company's website athttps://www.shurgard.com/corporate/investors/acquisitions/loknstore promptly and in any event by no later than 12 noon on the business day following the date of this announcement. Neither the content of the website referred to in this announcement nor the content of any website accessible from hyperlinks in this announcement is incorporated into, or forms part of, this announcement.