NATIONAL STORAGE REIT — Director's Dealing 2015

Aug 13, 2015

P | 1800 683 290 A | Level 1, 10 Felix Street, Brisbane QLD 4000 E | invest@nationalstorage.com.au nationalstorage.com.au

P | GPO Box 3239 QLD 4001

14 August 2015

The Manager Company Announcements ASX Limited Exchange Centre 20 Bridge Street Sydney NSW 2000

Re: Notification of Ceasing to be a Substantial Securityholder and Appendix 3Ys

We attach a Form 605 for Mr Andrew Catsoulis giving notice that he has ceased to be a substantial securityholder. The change is as a result of the dilutionary effect from the additional securities issued by NSR under the Placements and Security Purchase Plan undertaken in FY15 and Mr Catsoulis being unable to participate in the Placement.

We also attach an Appendix 3Y - Change of Director's Interest Notice for Mr Catsoulis, Mr Brindle and Mr Keane. These Appendix 3Ys each relate to the additional securities acquired by each director through their respective participation in the Security Purchase Plan in October 2014.

Yours Faithfully

Patrick Rogers Company Secretary and General Counsel National Storage Holdings Limited (07) 3218 8111 Mobile: 0409 764 995 progers@nationalstorage.com.au

NATIONAL STORAGE REIT (NSR)

National Storage Holdings Limited (ACN 166 572 845) The Trust Company (RE Services) Limited (ACN 003 278 831 AFSL 235 150) as responsible entity for National Storage Property Trust (ARSN 101 227 712)

Form 605

Corporations Act 2001 Section 671B

Notice of ceasing to be a substantial holder

To Company Name/Scheme	National Storage Holdings Limited National Storage Property Trust
ACN ARSN	166 572 845 101 227 712
1. Details of substantial holder (1)
Name	Andrew Catsoulis
ACN/ARSN (if applicable)	N/A
The holder ceased to be a substantial holder on		01/09/2014
The previous notice was given to the company on		24 / 12 / 2013
The previous notice was dated		24 / 12 / 2013

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant interest changed	Nature of change $(4)$	Consideration given in relation to changes (5)	Class (6) and number of securities affected	Person's votes affected
01/09/2014	Andrew Catsoulis	Interest diluted after NSR conducted an Institutional Placement.	N/A	Holding unchanged (12,547,163 Fully Paid Ordinary Stapled Securities). simply diluted.	Votes (12,547,163) unaffected, simply diluted.

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

$\cdots$ Name and ACN/ARSN olicable. ---	_________ ciation
N/A	___ N/A

4. Addresses

The addresses of persons named in this form are as follows:

Name	Address
Andrew Catsoulis	48 Newbolt Street, Holland Park QLD 4121

Signature

print name	Andrew Catsoulis	Capacity Director
sign here		date

DIRECTIONS

• $(1)$ If there are a number of substantial holders with similar or related relevant interests (eg a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 4 of the form.
• $(2)$ See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
• $(3)$ See the definition of "associate" in section 9 of the Corporations Act 2001.
• $(4)$ Include details of:
• any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of $(a)$ any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
• $(b)$ any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• $(5)$ Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.
• $(6)$ The voting shares of a company constitute one class unless divided into separate classes.
• $(7)$ Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

Rule 3.19A.2

Appendix 3Y

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity National Storage Holdings Limited
	National Storage Property Trust
ACN	166 572 845
ARSN	101 227 712

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Laurence Brindle
Date of last notice	24 December 2013

Part 1 - Change of director's relevant interests in securities

In the case of $a$ trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Through Brindle Super Pty Ltd as trustee for The Brindle Superannuation Fund. Mr Brindle is a director and shareholder of Brindle Super Pty Ltd and a beneficiary of the Brindle Superannuation Fund. 9 October 2014
Date of change
No. of securities held prior to change	1,020,400
Class	Ordinary
Number acquired	12,000
Number disposed	0
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$15,000
No. of securities held after change	1,032,400

⁺ See chapter 19 for defined terms.

Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buv-back	Mr Brindle participated in a Security Purchase Plan conducted by NSR for its Security Holders.
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------	---------------------------------------------------------------------------------------------------

Part 2 - Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should
be disclosed in this part.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder (if issued securities)	N/A
Date of change	N/A
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

Part 3 - ⁺Closed period

Were the interests in the securities or contracts detailed $\vert$ No above traded during a + closed period where prior written clearance was required?
If so, was prior written clearance provided to allow the trade N/A to proceed during this period?
If prior written clearance was provided, on what date was this N/A provided?

⁺ See chapter 19 for defined terms.

Rule 3.19A.2

Appendix 3Y

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity National Storage Holdings Limited
	National Storage Property Trust
ACN	166 572 845
ARSN	101 227 712

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Anthony Keane
Date of last notice	9 April 2014

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Through Keane Super Pty Ltd as trustee of the Keane Superannuation Fund. Mr Keane is a director and shareholder of Keane Super Pty Ltd and a trustee of the Keane Superannuation Fund.
Date of change	9 October 2014
No. of securities held prior to change	102,000
Class	Ordinary
Number acquired	12,000
Number disposed	$\mathbf{0}$
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$15,000
No. of securities held after change	114,000

⁺ See chapter 19 for defined terms.

Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buv-back	Mr Keane participated in a Security Purchase Plan conducted by NSR for its Security Holders.
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------	-------------------------------------------------------------------------------------------------

Part 2 - Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should
be disclosed in this part.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder (if issued securities)	N/A
Date of change	N/A
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

Part 3 - ⁺Closed period

Were the interests in the securities or contracts detailed No above traded during a + closed period where prior written clearance was required?
If so, was prior written clearance provided to allow the trade to proceed during this period?	N/A
If prior written clearance was provided, on what date was this provided?	N/A

⁺ See chapter 19 for defined terms.

Rule 3.19A.2

Appendix 3Y

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity	National Storage Holdings Limited
	National Storage Property Trust
JACN	166 572 845
ARSN	101 227 712

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Andrew Catsoulis
Date of last notice	24 December 2013

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Through A & K Catsoulis Pty Ltd as trustee for the A & K Catsoulis Superannuation Fund. Mr Catsoulis is a director and shareholder of A & K Catsoulis Pty Ltd and a beneficiary of the A & K Catsoulis Superannuation Fund.
Date of change	9 October 2014
No. of securities held prior to change	695,182
Class	Ordinary
Number acquired	12,000
Number disposed	$\mathbf{0}$
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$15,000
No. of securities held after change	707,182

⁺ See chapter 19 for defined terms.

Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buv-back	Mr Catsoulis participated in a Security Purchase Plan conducted by NSR for its Security Holders.
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------	-----------------------------------------------------------------------------------------------------

Part 2 - Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder (if issued securities)	N/A
Date of change	N/A
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

Part 3 - ⁺Closed period

Were the interests in the securities or contracts detailed $\parallel$ No above traded during a + closed period where prior written clearance was required?
If so, was prior written clearance provided to allow the trade $\parallel$ N/A to proceed during this period?
If prior written clearance was provided, on what date was this $\parallel N/A$ provided?

⁺ See chapter 19 for defined terms.