National Storage (NSR) investor relations material

Opening remarks and agenda

• Hybrid meetings enabled both in-person and online participation, with Computershare and legal advisors present to assist attendees.

• Four concurrent meetings were formally opened, covering share and trust schemes and unstapling resolutions.

• Voting procedures and eligibility were explained, with securityholders able to vote on five interconditional resolutions.

Financial performance review

• Market capitalization grew from AUD 198 million at IPO in 2013 to over AUD 4 billion, with enterprise value at AUD 6.7 billion.

• Securityholders at IPO are set to receive total returns of 438% if the transaction is implemented.

• Compound annual growth rate for underlying earnings was 20% and total revenue 19% over 12 years.

• First half FY 2026 saw underlying earnings growth above 8% and REVPAM up 5.3%.

Board and executive committee updates

• Board comprises independent and non-executive directors with defined committee roles, including audit, risk, nomination, and remuneration responsibilities.

• Managing Director, CFO, General Counsel, and other key executives were listed, highlighting leadership continuity.

• Directors and management were commended for professionalism and dedication, with special recognition for the founder and executive team.

• No exertion payments were made to Non-Executive Directors for the transaction.