Extra Space Storage (EXR) Company Presentation summary

Company overview and scale

• Operates 4,179 properties with over 322 million sq ft of rentable space and 2.8 million customers.

• S&P 500 member since 2015, with a $33.9 billion equity market cap as of June 30, 2025.

• Maintains a diversified portfolio across the U.S., with no single property contributing more than 0.3% of revenue.

• Largest and fastest-growing third-party management platform, managing 1,749 properties.

• Consistent and balanced growth through wholly owned, joint venture, and managed properties.

Industry dynamics and demand drivers

• Self storage is a resilient, need-based asset class with steady demand in all economic cycles.

• U.S. household storage utilization has grown from 2.7% in 1987 to 12.6% in 2023.

• Industry remains highly fragmented, offering significant consolidation opportunities for large operators.

• Top 2 performing REIT sector since 2004, with consistent returns and high operating margins.

• Customer base is highly diversified, with no material concentrations.

Financial performance and shareholder returns

• 226.6% 10-year total shareholder return; among the highest 20-year REIT returns.

• 20-year total return of 2,436.6%, ranking #1 among self storage REITs and #3 among all public REITs.

• Sector-leading 20-year compound annual dividend growth rate of 10.3%.

• Core FFO per share growth of 691% since 2017, significantly outperforming peers.

• Maintains investment grade ratings: S&P BBB+ and Moody’s Baa2.