Extra Space Storage (EXR) Proxy filing summary

Executive summary

• Achieved sector-leading same-store revenue and occupancy growth in 2025, investing $879M in acquisitions and $409M in bridge loans.

• Operational resilience supported by advanced data analytics, AI integration, and a diversified portfolio.

• Strong customer retention, low bad debt, and improved rental rates contributed to positive FFO per share growth.

• Continued focus on digital marketing, revenue management, and capital allocation for long-term value creation.

Voting matters and shareholder proposals

• Election of ten directors for one-year terms expiring at the 2027 annual meeting.

• Ratification of Ernst & Young LLP as independent registered public accounting firm for 2026.

• Advisory vote to approve compensation of named executive officers.

• Board recommends voting FOR all proposals.

Board of directors and corporate governance

• Board comprises ten nominees, nine of whom are independent, with diverse backgrounds in real estate, technology, finance, and operations.

• Separate Chairman and CEO roles; robust lead independent director responsibilities.

• Annual board and committee evaluations, regular succession planning, and strong stockholder engagement.

• No classified board or poison pill; annual election of all directors and majority voting in uncontested elections.