Self Storage Performance Quarterly Q2 2019

6HOI 6WRUDJH 3HUIRUPDQFH 4XDUWHUO\

0HGLDQ ± 7KH PHGLDQ LV WKH PLGGOH YDOXH RI D GDWD VHW ,W LV GHILQHG DIWHU DOO WKH PHDVXUHPHQWV LQ D GDWD VHW KDYH EHHQ DUUDQJHG LQ RUGHU RI PDJQLWXGH 7KH PLGGOH PHDVXUHPHQW LV WKH PHGLDQ 7KH PHGLDQ PD\ EH FRQVLGHUHG WR EH WKH YDOXH WKDW LV WKH W\SLFDO UHVSRQVH IRU D SDUWLFXODU VDPSOH ,I WKH GDWD VHW FRQWDLQV DQ HYHQ QXPEHU RI PHDVXUHPHQWV WKH KLJKHU RI WKH WZR PLGGOH YDOXHV ZRXOG EH FKRVHQ DV WKH PHGLDQ 0HWURSROLWDQ 6WDWLVWLFDO $UHDV 06$ ± $Q 06$ LV D JHRJUDSKLFDO UHJLRQ GHILQHG E\ WKH 8 6 &HQVXV %XUHDX 66'6 WUDFNV WKH RSHUDWLQJ SHUIRUPDQFH WUHQGV RI VHOI VWRUDJH IDFLOLWLHV ORFDWHG ZLWKLQ WKH ODUJHVW 06$V 7KH VL]H RI HDFK 06$ LV GHWHUPLQHG E\ WKHLU UDQNLQJ 06$ UDQNLQJV DUH EDVHG RQ WKH WRWDO SRSXODWLRQ DV UHSRUWHG E\ WKH 8 6 &HQVXV %XUHDX¶V 7KH 7RS 06$V DUH OLVWHG EHORZ DOSKDEHWLFDOO\ $WODQWD 6DQG\ 6SULQJV 0DULHWWD *$

0LQQHDSROLV 6W 3DXO %ORRPLQJWRQ 01 :, 1DVKYLOOH 'DYLGVRQ±0XUIUHHVERUR 71 1HZ 2UOHDQV 0HWDLULH .HQQHU /$ 1HZ

$XVWLQ 5RXQG 5RFN 7; %DOWLPRUH 7RZVRQ 0' %LUPLQJKDP +RRYHU $/

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

6DQ 'LHJR &DUOVEDG 6DQ 0DUFRV &$ 6DQ )UDQFLVFR 2DNODQG )UHPRQW &$ 6DQ -RVH 6XQQ\YDOH 6DQWD &ODUD &$ 6HDWWOH 7DFRPD %HOOHYXH :$ 6W /RXLV 02 ,/ 7DPSD 6W 3HWHUVEXUJ &OHDUZDWHU )/

9LUJLQLD %HDFK 1RUIRON 1HZSRUW 1HZV 9$ 1& :DVKLQJWRQ $UOLQJWRQ $OH[DQGULD '& 9$ 0' :9

2FFXSDQF\ ± 2FFXSDQFLHV UHIHUUHG WR LQ DQDO\VLV JUDSKV DQG WDEOHV LQ WKLV UHSRUW DUH W\SLFDOO\ WKH PHGLDQ SK\VLFDO XQLW RI WKH HQWLUH IDFLOLW\ QRW RQ WKDW RI D SDUWLFXODU XQLW VL]H XQOHVV RWKHUZLVH QRWHG 2SHUDWLQJ ([SHQVHV ± 2SHUDWLQJ H[SHQVHV DUH FDOFXODWHG DV D SHUFHQWDJH RI UHYHQXH 6RXUFH GDWD LV JDWKHUHG IURP SXEOLF 6(& ILOLQJV RI VHOI VWRUDJH 5(,76 DQG SULYDWH VXUYH\HG DQG FRQWULEXWHG VRXUFHV 3HUIRUPDQFH $W $ *ODQFH ± 7KH RYHUDOO WUHQGV LQ UHQWDO UDWHV RFFXSDQF\ DQG UHQW SHU DYDLODEOH XQLW DUH FRPSDUHG RQ D TXDUWHUO\ VHDVRQDO DQG DQQXDO EDVLV DUH LOOXVWUDWHG LQ D WDEOH 3K\VLFDO 2FFXSDQF\ ± 2FFXSDQF\ LV WKH QXPEHU RI XQLWV DYDLODEOH GLYLGHG E\ WKH IDFLOLW\¶V WRWDO QXPEHU RI XQLWV DQG LV GLVSOD\HG DV D SHUFHQWDJH 2FFXSDQFLHV DUH UHSRUWHG RQ D PHGLDQ EDVLV DQG EDVHG RQ WKDW RI WKH HQWLUH IDFLOLW\ QRW RQ WKDW RI D SDUWLFXODU XQLW VL]H XQOHVV RWKHUZLVH QRWHG 3RSXODWLRQ 3RS ± 7KH WRWDO QXPEHU RI SHRSOH LQ D PDUNHW DUHD 4XDUWHUO\ &KDQJH ± 7KLV LV WKH FKDQJH LQ WKH FXUUHQW TXDUWHU IURP WKH SUHYLRXV TXDUWHU

6RXUFH &XVKPDQ :DNHILHOG ,QF 7KH 6HOI 6WRUDJH 3HUIRUPDQFH 4XDUWHUO\ D SXEOLFDWLRQ RI &XVKPDQ :DNHILHOG ,QF LV LQWHQGHG VROHO\ IRU XVH E\ SDLG VXEVFULEHUV 5HSURGXFWLRQ RU GLVWULEXWLRQ LQ ZKROH RU SDUW ZLWKRXW ZULWWHQ SHUPLVVLRQ LV SURKLELWHG DQG VXEMHFW WR OHJDO DFWLRQ &RS\ULJKWŠ

&XVKPDQ :DNHILHOG _ 9DOXDWLRQ $GYLVRU\