U-Haul (UHAL) Proxy Filing summary

Executive summary

• The 2024 Annual Meeting is scheduled for August 15, 2024, with both in-person and webcast participation options, supporting environmental sustainability initiatives.

• Three proposals will be presented: election of directors, ratification of Deloitte as auditor, and ratification of board and executive actions for fiscal 2024.

• Only holders of Voting Common Stock as of June 18, 2024, are entitled to vote; Non-Voting Common Stock holders may not vote.

• Voting can be done online, by phone, mail, or in person, with specific deadlines for each method.

Voting matters and shareholder proposals

• Proposal 1: Election of eight directors to serve until the 2025 Annual Meeting.

• Proposal 2: Ratification of Deloitte & Touche, LLP as independent auditor for fiscal 2025.

• Proposal 3: Ratification and affirmation of all board and executive actions for fiscal 2024, a recurring shareholder proposal.

• The board recommends voting FOR all three proposals.

Board of directors and corporate governance

• The board consists of eight directors, all members of the National Association of Corporate Directors.

• Majority of directors are independent under NYSE rules; the company is a “controlled company” and not required to have a majority of independent directors.

• The board has Audit and Cyber, Executive Finance, Compensation, and Independent Governance Committees, with defined roles and independent membership.

• Directors are compensated with cash fees; no equity grants except through the ESOP.

• Director nominations are handled by the board as a whole, with a focus on diversity and relevant experience.