SmartStop Self Storage REIT (SMA) investor relations material

Strategic growth initiatives

• Multi-pronged Deca Initiative focuses on clustering, disciplined capital allocation, technology, third-party management, and capital-light scaling.

• Recent investments include a $54M Canadian joint venture, $37M in U.S. acquisitions, and $48–$53M in programmatic partnerships, expanding presence and recurring income.

• Portfolio expansion increases owned and managed properties to 485, with significant clustering in key U.S. and Canadian markets.

• Canadian joint venture positions the platform as the third-largest operator in Canada, with 70 properties and entry into new markets.

• Capital-light strategies leverage bridge lending, third-party management, and managed REIT platforms for additional earnings growth.

Financial and operating performance

• Q2 2026 saw 17.6% YoY FFOa/share growth and 3.7% same-store NOI growth, with 92.4% same-store occupancy.

• Managed REIT fees grew 14% YoY, with $1.0B AUM across 52 properties.

• Over $46M deployed in accretive capital, including acquisitions and preferred investments at a 10.9% yield.

• Revised 2026 outlook projects same-store NOI growth of 1.15–2.15% and FFOa/share of $1.99–$2.05.

• Portfolio has grown 227% over five years, with a focus on high-growth markets and a technology-enabled platform.

Portfolio quality and market positioning

• High-quality, diversified portfolio with 191 owned properties and 15.1M square feet, 91.7% occupancy, and $20.43 RentPOF.

• 65%+ of NRSF concentrated in top 25 MSAs, supporting above-average growth.

• Outperformed peers in Q2 2026 with 2.4% same-store revenue growth and 3.7% same-store NOI growth.

• Canadian markets, especially Toronto, offer significant expansion potential due to low storage supply ratios and strong demographics.

• Proprietary technology platform (dash) and AI drive operational efficiency and customer engagement.