Public Storage Announces Management Changes

Ronald L. Havner, Jr., Chairman and Chief Executive Officer of Public Storage (NYSE:PSA), announced today two management changes.

Natalia N. Johnson has been promoted to Senior Vice President, Chief Human Resources Officer. Natalia joined Public Storage in 2016 with over 18 years of broad-based leadership experience, having held senior management positions in human resources, technology and operations at Bank of America, Countrywide Financial and Coca-Cola. In her human resources roles, she was responsible for strategy and execution for talent acquisition and management, organizational and leadership development, compensation planning, employee relations and human resources information systems.

Clemente Teng, Vice President of Investor Services, will be retiring in May after 13 years with the Company. Ryan C. Burke, who has joined Public Storage as Vice President of Investor Services, will assume Mr. Teng’s role as the primary contact with investors and shareholders of the Company and its affiliates. Mr. Burke has nearly 15 years of experience in the consulting, investment banking and equity research arenas. Most recently, he was a Senior Analyst at Green Street Advisors where he led the firm’s coverage of the self-storage sector.

Mr. Havner said, “Natalia’s multi-faceted experience will position her well for continued success at Public Storage. We are grateful to Clem for his meaningful contributions and commitment to the Company and wish him all the best in his well-deserved retirement. We welcome Ryan to the Public Storage team.”

About Public Storage

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. The Company’s headquarters are located in Glendale, California. At March 31, 2018, we had interests in 2,392 self-storage facilities located in 38 states with approximately 159 million net rentable square feet in the United States and 223 storage facilities located in seven Western European nations with approximately 12 million net rentable square feet operated under the “Shurgard” brand. We also own a 42% common equity interest in PS Business Parks, Inc. (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at March 31, 2018.

Additional information about Public Storage is available on the Internet. The Company’s web site is PublicStorage.com.

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Public StorageRyan C. Burke(818) 244-8080, Ext. 1141