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Public Storage Announces Redemption of All Outstanding Depositary Shares Representing Interests in its 6.00% Cumulative Preferred Shares, Series Z

May 23, 2019

GLENDALE, Calif.--(BUSINESS WIRE)--May 23, 2019--

Public Storage (NYSE:PSA) announced today that it is calling for redemption all outstanding depositary shares representing interests in its 6.00% Cumulative Preferred Shares, Series Z (NYSE:PSAPrZ) on June 27, 2019 at $25 per depositary share. The aggregate redemption amount to be paid to all holders of the depositary shares is $287,500,000.

Company Information

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. At March 31, 2019, we had: (i) interests in 2,444 self-storage facilities located in 38 states with approximately 164 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 231 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the “Shurgard” brand and (iii) an approximate 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, 2019. Our headquarters are located in Glendale, California.

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

View source version on businesswire.com:https://www.businesswire.com/news/home/20190523005790/en/

CONTACT: Ryan Burke

(818) 244-8080, Ext. 1141

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: REIT CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE

SOURCE: Public Storage

Copyright Business Wire 2019.

PUB: 05/23/2019 04:08 PM/DISC: 05/23/2019 04:08 PM

http://www.businesswire.com/news/home/20190523005790/en

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