Public Storage acquires National Storage Affiliates Trust

Public Storage agreed to acquire National Storage Affiliates Trust. Reported deal value: Undisclosed. Status: Pending. Sector: Self-storage. Target headquarters context: Location not specified.

This page summarizes publicly available information about the transaction as of 2026-03-16. Figures and status may change as filings and press coverage update.

Filed by National Storage Affiliates Trust Pursuant to Rule 425 of the Securities Act of 1933 and deemed filed pursuant to Rule 14a-12 of the Securities Exchange Act of 1934 Subject Company: National Storage Affiliates Trust Commission File No.: 001-37351 The following was sent to employees of National Storage Affiliates Trust on March 16, 2026, in connection with Public Storage proposed acquisition of NSA