Public Storage — Oct 30, 2024 release

• Opened one newly developed facility and completed various expansion projects, which together added 0.5 million net rentable square feet at a cost of $142.6 million. At September 30, 2024, we had various facilities in development and expansion expected to add 4.0 million net rentable square feet at an estimated cost of $712.4 million. Operating Results for the Three Months Ended September 30, 2024 For the three months ended September 30, 2024, net income allocable to our common shareholders was $380.7 million or $2.16 per diluted common share, compared to $563.2 million or $3.20 per diluted common share for the same period in 2023, representing a decrease of $182.5 million or $1.04 per diluted common share. The decrease is due primarily to (i) a $118.5 million increase in foreign currency losses primarily associated with our Euro denominated notes payable, (ii) a $41.6 million increase in depreciation and amortization expense, and (iii) a $15.9 million increase in interest expense, partially offset by (iv) an $11.7 million increase in self-storage net operating income. The $11.7 million increase in self-storage net operating income in the three months ended September 30, 2024 as compared to the same period in 2023 is a result of a $29.8 million increase attributable to our Non-Same Store Facilities (as defined below), partially offset by an $18.0 million decrease attributable to our Same Store Facilities. Revenues for the Same Store Facilities decreased 1.3% or $12.3 mill