SmartStop Self Storage REIT (SMA) investor relations material

Platform overview and growth strategy

• Operates a diversified, technology-enabled self storage platform with 468 owned and managed properties across the U.S. and Canada, focusing on high-growth markets and unique exposure to the Greater Toronto Area (GTA).

• Achieved ~227% portfolio growth over five years, becoming a top 10 U.S. operator and the largest in the GTA.

• Employs a multi-pronged growth strategy: organic growth, acquisitions, third-party management, and managed REIT platforms.

• Maintains an investment-grade balance sheet with BBB ratings from DBRS and KBRA.

Financial and operational performance

• Reported $161 million LQA NOI and $3.1 billion in historical acquisition volume as of Q1 2026.

• Owned portfolio CAGR of 7.9% (2020–2025) and average same-store YoY revenue growth of ~1.5% over the last three years.

• Q1 2026 same-store occupancy at 92.3% and annualized same-store rent per occupied square foot at $20.10.

• Outperformed peers in Q1 2026 with 1.5% same-store revenue growth and 2.0% same-store NOI growth.

Market positioning and expansion

• Operates in highly fragmented markets, with significant consolidation opportunities in both the U.S. and Canada.

• Top 10 U.S. and Canadian markets show above-average population and income growth projections.

• Largest operator in the GTA, with 16%+ market share and a robust Canadian platform poised for further expansion.

• Recent Canadian acquisitions include an eight-facility GTA portfolio for CAD $300 million.