National Storage Affiliates Trust : ESG Document (NSA 2024 Corporate Responsibility Report FINAL 12 2024 Clean)

Published: 2024-12-16 17:59:05 ET NSA

CORPORATE RESPONSIBILITY REPORT

2024 DATA FOR THE 2023 CALENDAR YEAR

TABLE OF

CONTENTS

MESSAGE FROM OUR CEO

WHO WE ARE

COMMITMENT TO CORPORATE RESPONSIBILITY

OUR CUSTOMERS

CORPORATE RESPONSIBILITY HIGHLIGHTS

OUR TEAM

COMPANY AT A GLANCE

OUR COMMUNITIES

SUSTAINABILITY

GOVERNANCE

MANAGEMENT & OVERSIGHT

BOARD & MANAGEMENT DIVERSITY

SUSTAINABILITY INITIATIVES

ENTERPRISE RISK MANAGEMENT

816867$,1$%/(6867$,1$%/(*2$/6$/,*10(17

CORPORATE INFORMATION

COMMUNITY & TEAM

APPENDIX

INFORMATION IN THIS REPORT IS AS OF DECEMBER 31, 2023, EXCEPT AS OTHERWISE NOTED.

FOR ANY QUESTIONS OR INQUIRIES REGARDING THIS REPORT, PLEASE CONTACT GEORGE

HOGLUND, VICE PRESIDENT OF INVESTOR RELATIONS AT [email protected]

A MESSAGE FROM OUR CEO

To our valued shareholders, customers, and team members,

We remain active in finding ways to better serve our customers, team members and the communities in which we operate, in order to enhance the overall sustainability of our business. I'm proud of the achievements that our team has delivered, and I look forward to furthering our efforts and communicating our achievements with all stakeholders.

In 2023, we invested in new and upgraded platforms, including a new property management system, data warehouse and customer web platform, which enhance our abilities to serve our customers across the various customer acquisition channels. We also consolidated our security gate management systems, onboarded to a consolidated utility bill-pay aggregator and began using a third-party sustainability software platform to track, analyze and report on sustainability data, which will help us make our operations more efficient and sustainable, while increasing our transparency.

Our core values of Compassion, Humility, Accountability, and Integrity act as pillars in supporting our business model. We focus on sustainability, community and team, and governance initiatives which support our long- term success. The recent internalization of our PRO structure facilitates greater control and reporting of these initiatives across our entire portfolio, representing further progress on our corporate responsibility journey.

We are focused on reducing our waste, water and energy usage while supporting the development of renewable energy resources throughout our SRUWIROLR. These initiatives are not only good for the environment, but also for our financial results.

This report highlights our efforts throughout 2023 and into the future. :H

FRQWLQXHWRSXUVXH additional strategies to enhance our corporate

responsibility initiatives in order to attract and retain top talent, build trust

with our customers and partners, and return value to our shareholders.

David G. Cramer

President and CEO

COMMITMENT TO CORPORATE

RESPONSIBILITY

NSA is committed to operating in a sustainable manner with a focus on our community and team, while exemplifying transparency and integrity.

We believe that following these principles is essential to our long-term success and to the benefit of our customers, team members, and the communities in which we operate.

Our Corporate Responsibility Principles:

Responsible waste, water, and energy management

Reduce regulatory risk

Renewable energy for improved environmental and financial outcomes

Creating a safe environment for our employees and customers

Supporting our local communities

Promoting diversity

Operating our business with integrity, transparency, and accountability Robust enterprise risk management framework

Public company and industry best-practices regarding governance and management

Our efforts are focused on the following areas:

Reduce greenhouse gas emissions through responsible business operations

Protect water resources through conservation measures

Reduce waste generation

Promote well-being of team members, customers, and communities

Giving back to our communities

Operating with integrity, accountability, and transparency

NATIONAL STORAGE AFFILIATES TRUST

CORPORATE RESPONSIBILITY REPORT 2024

CORPORATE RESPONSIBILITY HIGHLIGHTS

SUSTAINABILITY: Set goal of 100 megawatts of solar generation to be deployed across our portfolio with individual lease contracts signed EWKHHQGRI

75 High-efficiency HVAC replacements in 2023

Over 18 million kilowatts of estimated annual energy savings from our LED lighting retrofit program

COMMUNITY & TEAM: SecurCare Self Storage was named one of America's Best

Customer Service Companies for 2024 by Newsweek

Our corporate team donated over $10,000 worth of school supplies and spent a day stuffing over 200 backpacks for children of low-income families in Colorado

Partnership with Feeding America to donate 1.5 million meals annually

NSA Storage Compassion Fund launched in 2023 by team members to support fellow team members facing extraordinary financial hardships. NSA has committed to match up to $50,000 of employee donations

GOVERNANCE: 33% of Trustees are diverse by race or gender (As of May 31, 2024)

Separate Chairman and CEO roles

Participated in GRESB assessment reporting over 90% Energy Floor Area Coverage and

Energy Meter Completeness on 2023 data

Consolidated utility bill pay aggregators across the portfolio to facilitate enhanced tracking and reporting of data

NATIONAL STORAGE AFFILIATES TRUST

CORPORATE RESPONSIBILITY REPORT 2024

COMPANY AT‰A‰GLANCE

FAST FACTS

(As of December 31, 2023)

Formed in 2013

IPO in April 2015

Headquartered in Greenwood Village, CO

Owns and operates 1,050 properties totaling 68.6 million square feet1

5th largest operator of self-storage facilities in the U.S. based on net rentable square footage2

1,108 employees

369% total shareholder return since IPO

(1) Includes 185 properties NSA manages through its

joint ventures, in which NSA has a 25% ownership interest. Property information as of December 31, 2023 excludes 39 properties held for sale.

(2) Based on the 2024 Self Storage Almanac

BUSINESS OVERVIEW

National Storage Affiliates Trust is a real estate investment trust headquartered in Greenwood Village, Colorado, focused on the ownership, operation and acquisition of selfstorage properties predominantly located within the top 100 metropolitan statistical areas throughout the United States.

As of December 31, 2023, the Company held ownership interests in and operated 1,050 selfstorage properties located in 42 states and Puerto Rico with approximately 68.6 million rentable square feet.1

NSA is one of the largest owners and operators of selfstorage properties among public and private companies in the United States. NSA is included in the MSCI US REIT Index (RMS/RMZ), the Russell 1000 Index of Companies, and the S&P MidCap 400 Index.

% of NSA Properties

>10%

5 - 9.9%

2 - 4.9% <2%

NATIONAL STORAGE AFFILIATES TRUST

CORPORATE RESPONSIBILITY REPORT 2024

SUSTAINABILITY

At National Storage Affiliates, we're dedicated to minimizing our environmental footprint and building a sustainable future. We're achieving this through:

RENEWABLE ENERGY AND EFFICIENCY:

:H UHLQVWDOOLQJVRODUSDQHOVLQYHVWLQJLQHQHUJ HIILFLHQWOLJKWLQJDQG+9$&VVWHPV and implementing energy-saving measures.

WATER AND WASTE RESPONSIBILITY:

We promote water conservation and responsible waste management practices.

SUSTAINABLE OPERATIONS: We use eco- friendly materials and incorporate sustainable practices throughout our business.

Our sustainability initiatives create a better future for our employees, customers, and the communities we serve.

Our commitment is ongoing and we FRQWLQXHWRVHHN

new ways to lessen our environmental impact. We believe environmental sustainability is a collective effort, and we encourage everyone - employees, customers, and suppliers - to join us in protecting our planet.

SUSTAINABILITY

CORPORATE RESPONSIBILITY REPORT 2024

MANAGEMENT & OVERSIGHT

LEADING THE CHARGE ON SUSTAINABILITY

A dedicated team ensures the responsible management of our facilities across the organization. Our Board's Compensation, Nominating, and Corporate Governance Committee oversees the Corporate Responsibility Committee, which spearheads our sustainability efforts.

The Corporate Responsibility Committee, led by our CEO, CFO, CSO and CLO, along with senior management, actively defines and executes our corporate responsibility goals.

The committee establishes both long-term strategies and practical action plans, ensuring continuous progress towards a sustainable future.

BUILDING A GREENER FUTURE, ONE FACILITY AT A TIME

Our dedicated teams across facilities, corporate offices, and regional operations collaborate to plan, manage, and implement energy-saving initiatives at our storage locations. This includes upgrading our buildings with more energy- efficient materials, products and strategies. By prioritizing sustainable solutions, we believe we can reduce our carbon footprint - both now and for years to come.

CONTINUOUSLY IMPROVING YOUR STORAGE EXPERIENCE

Our operations team partners with internal resources

and vendors to maintain a clean and safe environment. :H

FRQGXFWWKRXVDQGVRIIDFLOLWDVVHVVPHQWVHDFKHDUWR identify opportunities to enhance your storage experience and promote environmental sustainability.

Highlights Relating to Our

Corporate Operated Stores:

Over 4,000 property audits conducted in 2023

Centralized management of property level capital expenditures

Completed the on-boarding and consolidation of utility bill-pay aggregators across our portfolio in 2023 for improved management, reporting, and transparency

Energy efficiency standards for all new acquisitions and existing locations

Building a Sustainable Future, Together

At National Storage Affiliates, we're committed to ethical business practices that benefit both our stakeholders and the environment. To extend this commitment, we partner with vendors who share our values. Our vendor code of conduct outlines our expectations for responsible operations.

SUSTAINABILITY

CORPORATE RESPONSIBILITY REPORT 2024

SUSTAINABILITY INITIATIVES

SOL AR

As of December 31, 2023, we had 20 properties equipped with solar installations, DQGVL[VLWHVDSSURYHG DQGLQYDULRXVVWDJHVRILPSOHPHQWDWLRQ. Additionally, we have partnered with a large national solar provider setting a goal of 100MW to be deployed across our portfolio, with individual OHDVHcontracts to be signed by the end of 2027.

As a low-cost source of energy, we are focused on leveraging solar energy in markets with favorable returns

WKDWDOVREHQHILWRXUFRPPXQLWLHVESURYLGLQJJUHHQ HQHUJDQGRIIVHWWLQJLQFUHDVLQJHQHUJFRVWV This includes evaluating community solar programs which provide low-cost energy to under-served households.

LED LIGHTING

We are focused on reducing energy usage through LED upgrades at our facilities. This has resulted in over 80% of our stores utilizing LED fixtures or energy-efficient bulbs. This initiative was put in place to retro-fit our existing lighting fixtures across our portfolio to be more energy efficient, reduce our carbon footprint, and return value to all our stakeholders.

Energy-Efficiency Milestones

SUSTAINABILITY

CORPORATE RESPONSIBILITY REPORT 2024

SUSTAINABILITY INITIATIVES

ROOFING

One of NSA's ongoing initiatives for our corporate managed stores is to replace roofing materials with high efficiency rated products to reduce energy usage and extend the life of physical assets. As we deploy capital for roofing projects we strive to upgrade to high-reflective roofs to accomplish this goal.

Roof Upgrades: 09

2018

2019

2020

2021

2022

2023

HEATING & COOLING

We're committed to saving energy! That's why we're replacing our heating and cooling systems (HVAC units) across our facilities with high-efficiency models. These new systems are more efficient and are expected to deliver over a 50% reduction in energy use versus the old systems. This translates to significant savings considering the vast amount of climate-controlled space we manage - over 18 million square feet. Whenever an existing HVAC unit in any of our corporate managed facilities needs repairs or replacement, we upgrade it to new, environmentally friendly standard (R410).

Replacements:

High-Efficiency

2018

2019

2020

2021

2022

2023

SUSTAINABILITY

Disclaimer

National Storage Affiliates Trust published this content on December 16, 2024, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on December 16, 2024 at 22:58:06.081.