X0609 4 2026-09-01 0 0001393311 Public Storage PSA 0001793636 Sheek Samuel Wade false C/O PUBLIC STORAGE 2811 INTERNET BOULEVARD FRISCO TX 75034 0 1 0 0 Chief Legal Officer 0 LTIP Units 2026-09-01 4 A 0 6213 0 A Common Shares 6213 6213 D Reflects a new hire award of membership interests in Public Storage OP, L.P. ("Public Storage OP"), a subsidiary of Public Storage (the "Company"), designated as LTIP Units ("LTIP Units"), which LTIP Units are intended to qualify as profits interests for US federal income tax purposes. The LTIP Units vest in five equal annual installments beginning one year from the grant date. The LTIP Units, if and as they become vested, are convertible, conditioned upon the satisfaction of minimum allocations to the capital account of the LTIP Units for federal income tax purposes, into common units in Public Storage OP ("OP Units"). The resulting OP Units may be exchanged by the reporting person for common shares, par value $0.10 per share, of the Company or the equivalent cash value of common shares, as determined by the Company. /s/ Steven C. Babinski, Attorney-in-Fact 2026-09-03