Shurgard

Major Shareholding Notification • Sep 22, 2025

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1) Status of the notification

Final

2) Issuer

3) Reason for the notification

Acquisition or disposal of the control of an undertaking that holds a participating interest in an issuer Passive crossing of a threshold

4) Notification by

A parent undertaking or a controlling person
Persons acting in concert

5) Persons subject to the notification requirement

Name	Address (for legal entities)
Shurgard European Holdings, LLC	701 Western Avenue, Glendale, California 91201-2349, United States of America
New York State Common Retirement Fund	59 Maiden Lane, 30th Floor, New York, New York, 10038, United States of America
HABF European Investor 4, Inc.	701 Western Avenue, Glendale, California 91201-2349, United States of America
HABF European Investor 3, Inc.	701 Western Avenue, Glendale, California 91201-2349, United States of America
HABF European Investor 2, Inc.	701 Western Avenue, Glendale, California 91201-2349, United States of America
HABF 2017, Inc.	701 Western Avenue, Glendale, California 91201-2349, United States of America
PS TRS Holdings, Inc.	701 Western Avenue, Glendale, California 91201-2349, United States of America
Public Storage Operating Company	701 Western Avenue, Glendale, California 91201-2349, United States of America
Public Storage OP, L.P.	701 Western Avenue, Glendale, California 91201-2349, United States of America
Public Storage (Real Estate Investment Trust)	701 Western Avenue, Glendale, California 91201-2349, United States of America

6) Persons that dispose of voting rights (only to be filled in if art. 7 of the Law applies)

10) Notified details

A) Voting rights	Previous notification		After the transaction
	# of voting rights		# of voting rights		% of voting rights
Holders of voting rights		Linked to securities	Not linked to the securities	Linked to securities	Not linked to the securities	S
Public Storage (Real Estate Investment Trust)	0	0		0.00%		1
Public Storage OP, L.P.	0	0		0.00%		1
Public Storage Operating Company (formely known as Public Storage)	0	0		0.00%		1
PS TRS Holdings, Inc.	0	0		0.00%		1
HABF 2017 Inc.	0	0		0.00%		1
HABF European Investor 1, Inc.	8,204,299	8,598,881		8.52%		1
HABF European Investor 2, Inc.	8,533,034	8,943,426		8.86%		1
HABF European Investor 3, Inc.	8,533,033	8,943,425		8.86%		1
HABF European Investor 4, Inc.	8,533,032	8,943,424		8.86%		1
Subtotal	33,803,398	35,429,156		35.10%		S
New York State Common Retirement Fund	0	0		0.00%		2
Shurgard European Holdings, LLC	32,873,457	34,454,496		34.13%		2
Subtotal	32,873,457	34,454,496		34.13%		S
	TOTAL	69,883,652	0	69.23%	0.00%

Start with "groups" of holders. Add subtotals with Σ, and then finish with the persons who are "alone". For groups, start with the ultimate controlling natural person or legal entity.

The totals, subtotals and % will be updated once you have clicked on .

B) Equivalent financial instruments	After the transaction
Holders of equivalent financial instruments	Type of financial instrument		Expiration date Exercise period or date	# of voting rights that may be acquired if the instrument is exercised	% of voting rights	Settlement
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	TOTAL			0	0.00%
		The totals will be updated once you have clicked on
	TOTAL (A & B)				# of voting rights % of voting rights

11) Full chain of controlled undertakings through which the holding is effectively held, if applicable

CALCULATE 69,883,652 69.23%

12) In case of proxy voting for only one GM

13) Additional information

Public Storage has passively crossed a transparency threshold as a result of their decision to contribute their dividend rights of their shares into Shurgard in exchange for new shares for the payment on 15
September 2025 of the 2025 half year optional dividend resolved upon by the Board of Directors of the Company on August 13, 2025.

	Done at California, United States of America
On		22/09/2025 (DD/MM/YYYY)
	Name & capacity Nathaniel A. Vitan, Chief Legal Officer, Public Storage	Signature

For security reasons, the unsigned form in xlsx format should be transmitted to trp.fin@fsma.be. You can do this manually OR if you have MS Outlook at your disposal via the "Save & Send" button.

In addition, a signed copy in PDF format should also be transmitted.

Transparency notification Form TR-1 BE PART II

Persons subject to the notification requirement

Name	Adress	Phone number	E-mail	Contact person for legal persons
	Shurgard European Holdings, LLC701 Western Avenue, Glendale, California 91201-2349, United 1-818-330-5869		nvitan@publicstorage.com Nathaniel A. Vitan
New York State Common Retirem	59 Maiden Lane, 30th Floor, New York, New York, 10038, Unite 1-212-383-2509		bmccarthy@osc.ny.gov	Brian McCarthy
	HABF European Investor 4, Inc. 701 Western Avenue, Glendale, California 91201-2349, United 1-818-330-5869		nvitan@publicstorage.com Nathaniel A. Vitan
	HABF European Investor 3, Inc. 701 Western Avenue, Glendale, California 91201-2349, United 1-818-330-5869		nvitan@publicstorage.com Nathaniel A. Vitan
	HABF European Investor 2, Inc. 701 Western Avenue, Glendale, California 91201-2349, United 1-818-330-5869		nvitan@publicstorage.com Nathaniel A. Vitan
	HABF European Investor 1, Inc. 701 Western Avenue, Glendale, California 91201-2349, United 1-818-330-5869		nvitan@publicstorage.com Nathaniel A. Vitan
HABF 2017, Inc.	701 Western Avenue, Glendale, California 91201-2349, United 1-818-330-5869		nvitan@publicstorage.com Nathaniel A. Vitan
PS TRS Holdings, Inc.	701 Western Avenue, Glendale, California 91201-2349, United 1-818-330-5869		nvitan@publicstorage.com Nathaniel A. Vitan
	Public Storage Operating Compa 701 Western Avenue, Glendale, California 91201-2349, United 1-818-330-5869		nvitan@publicstorage.com Nathaniel A. Vitan
Public Storage OP, L.P.	701 Western Avenue, Glendale, California 91201-2349, United 1-818-330-5869		nvitan@publicstorage.com Nathaniel A. Vitan
Public Storage (Real Estate Inves	701 Western Avenue, Glendale, California 91201-2349, United 1-818-330-5869		nvitan@publicstorage.com Nathaniel A. Vitan

Mandatary

Name	Adress	Phone number	E-mail	Contact person for legal persons

Invoicing data

Name	Adress	Phone number	E-mail	Contact person for legal persons
Public Storage	701 Western Avenue, Glendale, California 91201-2349, United 1-818-812-5701		dadams@publicstorage.comDrew Adams

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Shurgard group Ownership chart, September 22, 2025

* An agreement to act in concert exists between Public Storage (Real Estate Investment Trust), New York State Common Retirement Fund and Shurgard European Holdings, LLC.