Extra Space Storage Inc. — Director's Dealing 2016

May 11, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Extra Space Storage Inc. (EXR)
CIK: 0001289490
Period of Report: 2016-05-10

Reporting Person: Sondhi Samrat (Executive VP and COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-05-10	Common Stock	M	9250	$6.22	Acquired	68349	Direct
2016-05-10	Common Stock	S	5000	$93.4001	Disposed	63349	Direct
2016-05-10	Common Stock	S	1673	$93.3750	Disposed	61676	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-05-10	Stock Options	$6.22	M	9250	Disposed	2019-02-17	Common Shares (9250)	Direct

Footnotes

F1: Options granted 02/17/2009 vested annually in equal installments over four years, beginning on the first anniversary of the grant date.