SmartStop Self Storage REIT (SMA) investor relations material

Strategic growth initiatives and platform overview

• Operates a diversified, technology-enabled self storage platform with 460 owned and managed properties across the U.S. and Canada, focusing on high-growth markets and unique Canadian exposure.

• The Deca Initiative drives long-term value through six pillars: disciplined capital allocation, operations clustering, technology and AI, third-party management, managed REIT platform, and joint venture acquisitions.

• Demonstrated robust growth, expanding the portfolio by ~227% over five years and achieving a 7.9% CAGR in owned properties from 2020-2025.

• Managed REIT and third-party management platforms provide incremental revenue and acquisition pipeline opportunities.

Financial and operational performance

• Q2 2026 LQA NOI reached $169 million, with a 1.1% average same-store YoY revenue growth over the past three years and a $3.1 billion historical acquisition volume.

• Q2 2026 same-store occupancy was 92.4%, with annualized same-store rent per occupied square foot at $20.33.

• Q2 2026 saw sector-leading 17.6% YoY FFOa/share growth, 3.7% same-store NOI growth, and 14% YoY growth in recurring managed REIT fees.

• Maintains among the highest portfolio concentration in top markets, with over 65% of owned assets in leading MSAs.

Market positioning and growth opportunities

• Portfolio is concentrated in large, high-growth MSAs with above-average projected population and income growth, especially in Toronto and other Canadian markets.

• Canadian markets, particularly the GTA, are underpenetrated, offering significant expansion potential; SmartStop holds a 16%+ GTA market share.

• Bridge lending joint venture with AXCS Capital targets 10-16% yields and provides a captive pipeline for new acquisitions.

• Solar initiative expected to deliver $1.8M in annual savings with $17.3M in total investment and 91 expected solar sites.