SmartStop Self Storage REIT (SMA) investor relations material

Strategic growth and market positioning

• Portfolio expanded by ~227% over five years, ranking among the top 10 U.S. operators and largest in the Greater Toronto Area.

• Multi-pronged growth strategy leverages organic growth, acquisitions, managed REITs, and third-party management.

• Focus on high-growth U.S. and Canadian markets, with over 65% of portfolio in top MSAs.

• Recent acquisition of Argus Professional Storage Management expands managed portfolio and geographic reach.

• Managed REIT and third-party platforms provide additional revenue streams and acquisition pipeline.

Financial and operational performance

• $167 million LQA NOI and $3.1 billion in historical acquisition volume as of 12/31/2025.

• 7.9% owned portfolio CAGR (2020–2025); 92.1% same-store occupancy at year-end 2025.

• Q4 2025 same-store rent per occupied foot at $20.04; average same-store YoY NOI growth of 0.7% over three years.

• FY 2025 acquisitions totaled $332 million for 17 properties, primarily in top MSAs.

• Investment grade balance sheet with BBB ratings, 5.7x net debt to adjusted EBITDA, and $2.9 billion total capitalization.

Market opportunity and competitive advantages

• U.S. self storage sector remains fragmented, with only 22.5% penetration by public companies.

• Canadian market is underpenetrated, with SmartStop holding the largest GTA share and robust local infrastructure.

• Portfolio concentrated in markets with above-average population and income growth projections.

• Technology-enabled platform (Dash) supports scalable operations, real-time data, and customer-centric engagement.

• Award-winning customer service and strong brand recognition, including Newsweek and Reputation 800 awards.