CubeSmart (CUBE) Investor presentation summary

Investment highlights and growth performance

• Achieved 56% FFO per share growth and 65% total shareholder return over five years, with a $13.1B enterprise value and 1,532 properties as of June 2025.

• Five-year acquisition volume reached $2.8B, with 59% dividend growth and a 6.8% same-store NOI CAGR.

• Maintains a Baa2/BBB credit rating, reflecting strong financial discipline.

Strategic focus and operational excellence

• Operates a high-quality, diversified portfolio concentrated in core markets with strong demographics, generating 91% of owned NOI from top-40 MSAs.

• Sophisticated operating platform leverages technology, dynamic pricing, and customer-centric service to drive efficiencies and revenue.

• Industry-leading demographics and a focus on mature, stable markets support long-term cash flow stability.

Growth strategy and portfolio expansion

• Multi-faceted growth through high-quality acquisitions, joint ventures, targeted development, and third-party management.

• Since 2010, increased store count by 233% and consolidated $6.1B in acquisitions, with 76% in top-25 MSAs.

• Joint ventures added $900M in assets and 47 properties, with successful buyouts enhancing portfolio value.

• Delivered $746M in new development, all in top-10 MSAs, and maintains a robust pipeline.

• Third-party management platform expanded to 873 properties, generating $41M in management fees in 2024.