National Storage Affiliates Trust — Director's Dealing 2021

Jan 5, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: National Storage Affiliates Trust (NSA)
CIK: 0001618563
Period of Report: 2020-12-31

Reporting Person: Cramer David (Chief Operating Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-12-31	Common shares of beneficial interest, $0.01 par value	C	95171	—	Acquired	1915367	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-12-31	Class A OP Units	$	C	95171	Disposed		Common shares of beneficial interest, $0.01 par value (95171.0)	Direct

Footnotes

F1: The Reporting Person redeemed 95,171 Class A common units of limited partner interest (the "Class A OP Units") of NSA OP, LP (the "Partnership"), of which National Storage Affiliates Trust (the "Issuer") is the general partner. These Class A OP Units were held by the Reporting Person, who received 95,171 common shares of beneficial interest ("Shares") of the Issuer upon redemption.

F2: The Reporting Person's total direct and indirect beneficial ownership following the reported transactions above is (i) 1,915,367 Shares and (ii) 62,764 Class A OP Units (which includes those securities convertible into, or exchangeable for, such Class A OP Units as previously reported). The 62,764 Class A OP Units referred to above do not include derivative securities of other classes or non-derivative securities of the Reporting Person that were previously reported.

F3: The Reporting Person's total direct and indirect beneficial ownership of Shares following the reported transactions above includes the Shares described in footnote 1 above and excludes 48,541 Shares and 400 Shares that the Reporting Person and his spouse respectively contributed to SecurCare Bonus Pool, LLC ("Bonus Pool") on March 31, 2020, as previously reported in the Reporting Person's Form 3. On October 17, 2020, the Reporting Person resigned as a manager of Bonus Pool and is no longer a controlling person and does not have or share voting or investment power over the portfolio of Bonus Pool.

F4: N/A