Public Storage Provides Hurricane Irma Update

Public Storage (NYSE:PSA) is providing a progress update on the impact of Hurricane Irma. Approximately twenty-four hours after Hurricane Irma's exit from Florida, we have re-opened 56% of our properties throughout Florida. Due to continuing power outages, repairs and our teams’ continuing “on-the-ground” assessments, approximately 44% of our properties remain closed.

• Florida: 159 of 284 properties are re-opened with approximately 10.6 million net rentable square feet and 104,600 units; 125 properties without power remain temporarily closed representing approximately 8.5 million net rentable square feet and 89,300 units.
• South Carolina: two properties are re-opened with approximately 63,000 net rentable square feet and 800 units; four properties remain temporarily closed representing approximately 235,000 net rentable square feet and 1,600 units.
• Georgia: three properties remain temporarily closed representing approximately 260,000 net rentable square feet and 2,000 units.

As we determine that conditions and access to properties are safe, we will announce re-openings as soon as practical.

Our dedicated hotline [phone] for those impacted by Hurricane Irma and any customer who would like to speak to a Public Storage Team Member remains open from 8 a.m. to 1 a.m. EDT Monday through Friday and 8 a.m. to Midnight EDT Saturday and Sunday. We will also keep our customers informed of any updates by email.

Company Information

Public Storage, a member of the S&P 500 and FT Global 500, is a fully integrated, self-administered and self-managed real estate investment trust that primarily acquires, develops, owns and operates self-storage facilities. The Company’s headquarters are located in Glendale, California. At June 30, 2017, the Company had interests in 2,358 self-storage facilities located in 38 states with approximately 156 million net rentable square feet in the United States and 220 storage facilities located in seven Western European nations with approximately 12 million net rentable square feet operated under the “Shurgard” brand. The Company also owns 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, primarily flex, multi-tenant office and industrial space, at June 30, 2017.

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

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Public StorageClemente Teng(818) 244-8080, Ext. 1141