Extra Space Storage : 2024 Sustainability ReportMore Sustainability Documents (2024 Extra Space Storage Sustainability Report Final)

Published: 2025-06-23 16:24:05 ET EXR

Published on 06/23/2025 at 16:24

As we reflect on Extra Space Storage's progress in 2024, our focus remains sharp and our momentum strong. Building on the transformative merger with Life Storage in 2023, which significantly expanded our scale, 2024 was a year of optimization and efficiency gains.

Our expanded portfolio of over 4,000 stores presents both opportunities and responsibilities. 2024 marks our first full calendar year with consumption data from over 1,200 additional former Life Storage locations.

In 2024, we invested $30.1 million in solar installations, bringing the total number of wholly-owned facilities with solar power to over 42%. These generated over 50.2 GWh of clean energy in 2024. Our energy efficiency programs remain a cornerstone of our environmental strategy, generating an 8.3% reduction in GhG emissions per square foot in our like-for-like pool. Programs like our ongoing lighting retrofit, which has achieved over 30 million kWh in annual energy savings, and our HVAC retrofitting, in which we invested $13 million in 2024, are also creating significant energy savings.

Our commitment to our people, our customers, and the communities we serve remains unwavering. We were named by Forbes as a top 25 company on their list of "America's Best Companies to Work For and Invest In," which evaluated over 60 metrics, including customer and employee satisfaction, sustainability, cybersecurity, and financial performance. This external validation is a testament to our ongoing efforts to be a great company across every category.

Our core values - Integrity, Excellence, Innovation, Teamwork, and Passion - continue to guide our decisions and actions. As we move forward in 2025 and beyond, we will continue to drive innovation, enhance reporting transparency, and work collaboratively with our employees, customers, investors, and communities. We remain steadfast in our commitment to building a sustainable company that delivers long-term value for all our stakeholders.

50.2 GWhs of Solar Production in 2024

SUSTAINABILITY HIGHLIGHTS

SUSTAINABILITY STRATEGY

STEP 01

LEARN

STEP 02

PLAN

Keep informed about ESG best practices and emerging opportunities

Determine which sustainability projects to pursue

STEP 03

ACT

STEP 04

REVIEW

Implement ESG improving projects Analyze results to inform future plans

Number of Storage Properties1

Average Same-Store Occupancy

0.93

9.46

78.9% LESS

8.09

84.9% LESS

25.51

92.2% LESS

85.6% LESS

1.36

0.07

Carbon Emission (kg/m2)

168.37

Water Consumption (m3/m2)

Waste Production (kg/m2)

Extra Space Storage

Real Estate Sector Average

Relative to Other Asset Classes 2

308 MILLION

Net Rentable Square Footage

38.26

Energy Consumption (kWh/m2) 3

The company has no indirectly managed assets.

Real Estate Sector Average data from Urban Land Institute, Greenprint Performance Report, Volume 15, including all sectors. Extra Space Storage intensity data is for all properties managed during 2024 as provided in the appendix to this report.

Extra Space Storage energy consumption reported net of solar energy produced and consumed on site within the portfolio.

PORTFOLIO OVERVIEW

Disclaimer

Extra Space Storage Inc. published this content on June 23, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on June 23, 2025 at 20:23 UTC.