STIFF STORACE iStorage SELF STORAGE 1-866-4-STORAGE 3 2 5 RIGHTSPACE NATIONAL STORAGE STORAGE - AFFILIATES - 3567 /w.moovein.com REITworld 2020 Annual Conference November 2020 Forward-Looking Statements and Non-GAAP Financial Measures FORWARD-LOOKING STATEMENTS: We make forward-looking statements in this presentation that are subject to risks and uncertainties. These forward-looking statements include information about possible or assumed future results of our business, financial condition, liquidity, resul ...

Financial Data and Key Metrics Changes - Core FFO per share increased by 10% in Q3 2020 compared to the same period last year, reaching $0.44, driven by robust acquisition volume and the internalization of SecurCare PRO [13][22] - Same-store NOI increased by 0.2% year-over-year, with same-store occupancy averaging 91.1%, up 100 basis points from Q3 2019 [23] - The company reinstated its full-year 2020 guidance, expecting core FFO per share of $1.66 to $1.68, representing 8.4% growth at the midpoint over the prior year [29][30] Business Line Data and Key Metrics Changes - The company acquired four wholly owned properties for a total investment of $24 million during Q3, with two additional stores valued at $9 million acquired post-quarter [18] - Same-store revenues remained flat, while property operating expenses declined by 0.4%, contributing to the increase in NOI [23][25] Market Data and Key Metrics Changes - The company noted a shift in customer demand for storage due to pandemic-related factors, including remote work and increased household projects, leading to higher occupancy rates [11][12] - Move-in volume continued to be higher year-over-year, while move-outs decreased, resulting in an occupancy rate of 92.4% at the end of October, an all-time high [27] Company Strategy and Development Direction - The company is focused on acquisitions, with a solid pipeline of about $300 million in properties under contract or LOI, expecting to close nearly half by year-end [17][19] - The management emphasized the strength of the self-storage sector and the benefits of their differentiated PRO structure, particularly in secondary and tertiary markets [15][16] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about the fourth quarter and 2021, citing strong demand trends and the resilience of the self-storage sector despite the pandemic [20][21] - The company is prepared for potential challenges from new supply in certain markets but believes current demand is alleviating some pressure [16] Other Important Information - The company has a net debt-to-EBITDA ratio of 6.0x at the end of Q3, down from 6.3x at the end of Q2, indicating a strong balance sheet [34] - The company plans to use proceeds from a recent equity forward sale agreement primarily to fund acquisitions [32] Q&A Session Summary Question: Can you elaborate on the assumptions for the implied growth in Q4? - Management noted that occupancy improvements and positive street rates contributed to the optimistic outlook for Q4 [42][43] Question: Are you seeing any trends in migration from higher-priced coastal cities? - Management acknowledged anecdotal evidence of migration but did not see substantial data to confirm significant trends [46][47] Question: Can you discuss the pricing and composition of the $300 million acquisition pipeline? - The pipeline consists mostly of one-off deals with some smaller portfolios, with pricing around the six-cap range [49][50] Question: What are the prospects for internalizing more PROs? - Management indicated that while there are no immediate plans, the success of the SecurCare internalization could lead to future opportunities [91][92] Question: How is the company thinking about funding acquisitions? - The company plans to use a combination of equity and revolver funding for acquisitions, maintaining a net debt-to-EBITDA range of 5.5x to 6.5x [66] Question: What is the outlook for occupancy as the world normalizes? - Management believes that the diverse portfolio and various demand drivers will help maintain occupancy levels even as conditions normalize [86][87]

Company Overview - As of September 30, 2020, the company owned 611 self-storage properties across 29 states and Puerto Rico, comprising approximately 36.8 million rentable square feet and 293,000 storage units[153]. - The same store portfolio consisted of 500 consolidated self storage properties as of September 30, 2020, providing a basis for year-over-year performance analysis[163]. Acquisitions and Growth - During the nine months ended September 30, 2020, the company acquired 44 self-storage properties for $282.8 million, adding approximately 2.3 million rentable square feet and 18,100 storage units[154]. - The company has a potential acquisition opportunity in its unconsolidated real estate ventures, which currently own 177 properties valued at approximately $1.5 billion based on historical book value[156]. - The company aims to expand its platform by recruiting additional established self-storage operators and implementing centralized initiatives for cost optimization[151]. Financial Performance - Net income for the three months ended September 30, 2020, was $21.4 million, an increase of $4.9 million or 29.7% compared to $16.5 million for the same period in 2019[165]. - Total revenue increased by $30.8 million, or 10.7%, for the nine months ended September 30, 2020, compared to the same period in 2019[181]. - Rental revenue rose by $27.6 million, or 10.5%, for the nine months ended September 30, 2020, driven by a $26.5 million increase in non-same store rental revenue[182]. - Net income for Q3 2020 was $21,411,000, compared to $16,514,000 in Q3 2019, representing a 29% increase[197]. - Adjusted EBITDA for the nine months ended September 30, 2020 was $205.8 million, up 11% from $185.2 million in the same period of 2019[206]. Occupancy and Revenue Metrics - Same store move-in volume increased approximately 11% during the three months ended September 30, 2020, compared to the same period in 2019[147]. - Same store period-end occupancy was 91.9% as of September 30, 2020, an increase of approximately 260 basis points compared to September 30, 2019[147]. - The company experienced a same store period-end occupancy of 92.4% as of October 31, 2020, which was a 50 basis point increase compared to September 30, 2020[146]. Expenses and Costs - Property operating expenses increased by $9.8 million, or 11.8%, for the nine months ended September 30, 2020, primarily due to a $9.6 million rise in non-same store expenses[185]. - General and administrative expenses decreased by $0.5 million, or 4.0%, for the three months ended September 30, 2020, attributed to reduced supervisory fees following a merger[172]. - Interest expense rose by $4.8 million, or 11.6%, for the nine months ended September 30, 2020, due to additional borrowings[188]. Cash Flow and Capital Expenditures - Cash provided by operating activities increased to $167.6 million for the nine months ended September 30, 2020, compared to $150.1 million for the same period in 2019, reflecting an increase of $17.5 million[212]. - Cash used in investing activities decreased to $268.5 million for the nine months ended September 30, 2020, down from $364.4 million in the same period of 2019[213]. - Total capital expenditures for the nine months ended September 30, 2020 were $13.0 million, a decrease from $15.9 million in 2019[214]. Debt and Interest Rate Management - The company had $246.5 million of debt subject to variable interest rates as of September 30, 2020, with a potential annual impact of $2.5 million on future earnings and cash flows if one-month LIBOR changes by 100 basis points[247]. - The company uses interest rate swaps to moderate exposure to interest rate risk, converting variable rate debt to fixed rate[246]. Shareholder Returns and Equity - The board of trustees declared a cash dividend of $0.34 per common share and OP unit, and cash distributions of $0.375 per Series A Preferred Share on August 20, 2020, payable on September 30, 2020[230]. - The company issued 8,105,192 common shares in connection with the mergers of SecurCare and DLAN[223]. - The company expects to generate approximately $160 million in net proceeds from the forward sale agreements of 4,900,000 common shares[225].

STINSTORICE iStorage SELF STORAGE 1-866-4-STORAGE 485 RIGHTSPACE BIGHTSPACE N A T I O N A L S T O R A G E 3567 w.moovein.com Company Update September 2020 Forward-Looking Statements and Non-GAAP Financial Measures FORWARD-LOOKING STATEMENTS: We make forward-looking statements in this presentation that are subject to risks and uncertainties. These forward-looking statements include information about possible or assumed future results of our business, financial condition, liquidity, results of operations, pla ...

Financial Data and Key Metrics Changes - Core FFO per share increased by 7.9% year-over-year to $0.41, driven by strong acquisition volume and internalization of SecurCare [26][10] - Same-store NOI decreased by 1.2% year-over-year, with same-store revenues and property operating expenses both declining by 1.1% [27][10] - Same-store occupancy averaged 88.1%, a decline of 140 basis points compared to the same period in 2019 [27] Business Line Data and Key Metrics Changes - Same-store move-in volume in July was 8% higher than July 2019, while move-outs were down 20% compared to the prior year [30] - Cash collections in July remained healthy at about 99% of normal levels, similar to Q2 [31] - Same-store OpEx growth benefited from cost control measures, with personnel costs down 2.5% and repairs and maintenance down 13% [29] Market Data and Key Metrics Changes - Half of the reported MSAs achieved positive same-store revenue and NOI growth, with Riverside, San Bernardino, and Phoenix performing better than the portfolio average [32] - Portland was negatively impacted by COVID-related restrictions, with average occupancy down 280 basis points during Q2, but improved to a decline of just 140 basis points by the end of the quarter [34] - The company noted a trend of out-migration from urban areas to suburban locations, which is expected to benefit NSA [20] Company Strategy and Development Direction - The company is focused on external growth, having acquired four wholly-owned properties for a total investment of $36 million during Q2 [22] - The acquisition environment slowed significantly in Q2, but activity is picking up as operating fundamentals stabilize [23] - The company aims to continue leveraging its unique PRO structure to align interests and mitigate risks during challenging times [11] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism, stating that the worst of the downturn may be behind them, but uncertainty remains due to COVID-19 [18] - The company is not reinstating 2020 guidance at this time but is monitoring the situation closely [18] - Management believes that the last half of 2020 FFO should come in ahead of the last half of 2019, assuming no additional shutdowns occur [70] Other Important Information - The company executed a $250 million debt private placement transaction with a 2.99% coupon, the lowest for any 10-year public or private notes issued by a self-storage REIT [21] - The balance sheet is well-positioned with $500 million available on the revolver and no debt maturities through 2022 [40] - The weighted average cost of debt at quarter end was 3.3%, with a net debt-to-EBITDA ratio of 6.3 times [41] Q&A Session Summary Question: Can you comment on the transaction market and cap rates? - Management noted that they did not see significant compression in cap rates during the downturn, with an average cap rate for deals closed in Q2 around 6.5% [47] Question: How much demand is related to moving due to work-from-home trends? - Management acknowledged witnessing some demand related to people creating home offices but could not quantify the impact [49] Question: Do you expect to return to a 20% growth rate in asset base? - Management indicated that a more realistic goal would be around 10% growth per year, with a focus on seeking transactions that make sense [54] Question: What is the outlook for property taxes? - Management expects property tax growth to remain around 5.5% for the back half of the year, consistent with prior guidance [96] Question: How has the student population impacted move-ins? - Management observed a decrease in college student activity compared to previous years, with uncertainty about the impact on move-outs [105] Question: What are the trends in new supply and construction? - Management noted that while projects under construction will be completed, new approvals and permits have slowed significantly [108]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-37351 National Storage Affiliates Trust (Exact name of Registrant as specified in its charter) Maryland 46-5053858 (State or other jurisdic ...

National Storage Affiliates Trust (NYSE:NSA) Q1 2020 Results Conference Call May 12, 2020 1:00 PM ET Company Participants George Hoglund - VP, IR Arlen Nordhagen - Executive Chairman Tamara Fischer - CEO Dave Cramer - COO Brandon Togashi - CFO Conference Call Participants Smedes Rose - Citi Neil Malkin - Capital One Securities Ravi Vaidya - KeyBanc Capital Markets Ian Gaule - SunTrust Robinson Humphrey Ronald Kamdem - Morgan Stanley Stephen Mead - Anchor Capital Advisors Todd Stender - Wells Fargo Operator ...

PR First Quarter 2020 Earnings Release & Supplemental Financial Information NATIONAL STORAGE - AFFILIATES - Table of Contents Page 1 Earnings Release 6 Consolidated Statements of Operations 7 Consolidated Balance Sheets 8 Schedule 1 - Funds From Operations and Core Funds From Operations 10 Schedule 2 - Other Non-GAAP Financial Measurements 11 Schedule 3 - Portfolio Summary 13 Schedule 4 - Debt and Equity Capitalization 15 Schedule 5 - Summarized Information for Unconsolidated Real Estate Ventures 16 Schedul ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-37351 National Storage Affiliates Trust (Exact name of Registrant as specified in its charter) (State or other jurisdiction of incorporati ...

PROGRESS Fourth Quarter 2019 Earnings Release & Supplemental Financial Information NATIONAL STORA GE Table of Contents Page 1 Earnings Release 7 Consolidated Statements of Operations 8 Consolidated Balance Sheets 9 Schedule 1 - Funds From Operations and Core Funds From Operations 11 Schedule 2 - Other Non-GAAP Financial Measurements 12 Schedule 3 - Portfolio Summary 14 Schedule 4 - Debt and Equity Capitalization 16 Schedule 5 - Summarized Information for Unconsolidated Real Estate Ventures 17 Schedule 6 - S ...