Self Storage Performance Quarterly Q1 2016

Section IV Real Estate Investment Trusts (REITs) Performance Data 4 th Quarter 2015

The following performance data comes from the four public companies same store pool and supports the conclusions drawn from the Self-Storage Performance Index and other trends SSDS tracks. There are however, slight differences which are mostly attributable to the following: 1. SSDS only tracks the trends in the 100 square foot non-climate-controlled units. 2. The SSDS estimate of Rent per Available Square Foot does not take into consideration a. Bad Debt b. Existing tenants paying something other than the current asking rental rate c. Ancillary income 3. The SSDS trends reflect the whole nation geographically while the individual REITs are more confined to regions of the country.

Real Estate Investment Trust Percent Change in Revenue Same Store Portfilio

12.0%

10.0%

8.0%

6.0%

4.0%

2.0%

Percent Change

0.0%

-2.0%

-4.0%

2Q10 4Q10 2Q11 4Q11 2Q12 4Q12 2Q13 4Q13 2Q14 4Q14 2Q15 4Q15

Public Storage

Extra Space

CubeSmart

Sovran

Average

Source: Cushman & Wakefield, Inc. The Self Storage Performance Quarterly , a publication of Cushman & Wakefield, Inc., is intended solely for use by paid subscribers. Reproduction or distribution in whole or part without written permission is prohibited and subject to legal action. Copyright® 2016 2020 Main Street, Suite 1000, Irvine, California 92614 Phone: 626-304-2920 Fax: 626-304-2921 www.ssdata.net

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