of this Current Report on Form 8-K is incorporated herein by reference. In connection with the transactions contemplated by the Merger Agreement, each outstanding award of time-based NSA OP LTIP Units granted in 2026 was converted on a one-for-one basis into an NSA Restricted Share Award covering an equal number of NSA Common Shares. Consistent with the treatment of other NSA Restricted Share Awards under the Merger Agreement, the converted awards vested in full immediately prior to the Compa…

Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. The information set forth in the Introductory Note and under

Material Modification to Rights of Security Holders. The information set forth in the Introductory Note and under Items 2.01, 3.01 and 5.03 of this Current Report on Form 8-K is incorporated herein by reference. In connection with the consummation of the Mergers on the Closing Date, holders of NSA Common Shares, NSA Series A Preferred Shares, and NSA Series B Preferred Shares ceased to have any rights as shareholders of NSA, other than the right to receive Public Storage Common Shares (and ca…

The filing describes the conversion and vesting of LTIP Units in connection with a merger, not a management change.

Termination of a Material Definitive Agreement. The information set forth in the Introductory Note and under

of Form 8-K and Item 601(a)(5) of Regulation S-K. Parent agrees to furnish supplementally a copy of such schedules and exhibits, or any section thereof, to the SEC upon request; provided, however, that Parent may request confidential treatment pursuant to Rule 24b-2 of the Exchange Act for any schedules so furnished. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto…

of this Current Report on Form 8-K is incorporated herein by reference. On the Closing Date, at the effective time of the Company Merger (the “Company Merger Effective Time”), (i) each common share of beneficial interest, par value $0.01 per share, of NSA (each, an “NSA Common Share”) issued and outstanding immediately prior to the Company Merger Effective Time was converted into the right to receive 0.1400 (the “Exchange Ratio”) newly issued common shares of beneficial interest, par value $0…

Other Events. On July 10, 2026, National Storage Affiliates Trust issued a press release entitled “National Storage Affiliates Trust Announces Anticipated Closing Date of Pending Transaction; Declares Dividend in Connection with Pending Transaction.” The full text of the press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Results of Operations and Financial Condition. On May 5, 2026 , National Storage Affiliates Trust (the "Company") issued an earnings release and supplemental schedules announcing its financial results for the quarter ended March 31, 2026. A copy of the earnings release and supplemental schedules are attached hereto as Exhibit 99.1 and is incorporated by reference herein. The full text of the earnings release and supplemental schedules are also available through the Company's website at www.ns…

The filing describes compensatory arrangements for certain executives in connection with mergers.

Entry into a Material Definitive Agreement. Merger Agreement On March 16, 2026, National Storage Affiliates Trust, a Maryland real estate investment trust (the “Company”), NSA OP, LP, a Delaware limited partnership (the “Partnership” and, together with the Company, the “Company Parties”), Public Storage, a Maryland real estate investment trust (“Parent”), Public Storage OP, L.P., a Delaware limited partnership (“Parent OP”), Pelican Merger Sub I, LLC, a Maryland limited liability company and…

Results of Operations and Financial Condition. On February 25, 2026 , National Storage Affiliates Trust (the "Company") issued an earnings release and supplemental schedules announcing its financial results for the quarter ended December 31, 2025. A copy of the earnings release and supplemental schedules are attached hereto as Exhibit 99.1 and is incorporated by reference herein. The Company will hold its fourth quarter 2025 earnings conference call on Thursday, February 26, 2026 at 1:00 p.m.…

Results of Operations and Financial Condition. On November 3, 2025 , National Storage Affiliates Trust (the "Company") issued an earnings release and supplemental schedules announcing its financial results for the quarter ended September 30, 2025. A copy of the earnings release and supplemental schedules are attached hereto as Exhibit 99.1 and is incorporated by reference herein. The Company will hold its third quarter 2025 earnings conference call on Tuesday, November 4, 2025 at 1:00 p.m. Ea…

Results of Operations and Financial Condition. On August 4, 2025 , National Storage Affiliates Trust (the "Company") issued an earnings release and supplemental schedules announcing its financial results for the quarter ended June 30, 2025. A copy of the earnings release and supplemental schedules are attached hereto as Exhibit 99.1 and is incorporated by reference herein. The Company will hold its second quarter 2025 earnings conference call on Tuesday, August 5, 2025 at 1:00 p.m. Eastern Ti…

Results of Operations and Financial Condition. On May 5, 2025 , National Storage Affiliates Trust (the "Company") issued an earnings release and supplemental schedules announcing its financial results for the quarter ended March 31, 2025. A copy of the earnings release and supplemental schedules are attached hereto as Exhibit 99.1 and is incorporated by reference herein. The Company will hold its first quarter 2025 earnings conference call on Tuesday, May 6, 2025 at 1:00 p.m. Eastern Time. Yo…

Results of Operations and Financial Condition. On February 26, 2025 , National Storage Affiliates Trust (the "Company") issued an earnings release and supplemental schedules announcing its financial results for the quarter ended December 31, 2024. A copy of the earnings release and supplemental schedules are attached hereto as Exhibit 99.1 and is incorporated by reference herein. The Company will hold its fourth quarter 2024 earnings conference call on Thursday, February 27, 2025 at 1:00 p.m.…

Director — Rebecca L. Steinfort: The filing discloses a director's decision not to stand for re-election at the next annual meeting, which is a routine board composition change rather than a sudden executive departure.

Chief Accounting Officer — John Esbenshade: The filing discloses the internal promotion of the Senior Vice President and Controller to Chief Accounting Officer, replacing the resigning incumbent in an orderly succession.

The filing discloses one-time compensation awards (LTIP Units) to executives in connection with a corporate internalization, not a change in management personnel.

Other Events. On November 19, 2024, National Storage Affiliates Trust (the “Company”) and its operating partnership, NSA OP, LP, entered into a sales agreement (the “Sales Agreement”) with each of BofA Securities, Inc., BMO Capital Markets Corp., BTIG, LLC, Capital One Securities, Inc., Citigroup Global Markets Inc., Jefferies LLC, J.P. Morgan Securities LLC, KeyBanc Capital Markets Inc., Morgan Stanley & Co. LLC, Regions Securities LLC, Robert W. Baird & Co. Incorporated, Truist Securities,…

Other Events. On November 14, 2024, the Board of Trustees (the “Board”) of National Storage Affiliates Trust (the “Company”) approved a new share repurchase program (the “New Share Repurchase Program”) authorizing, but not obligating, the repurchase of up to $350.0 million of the Company’s outstanding common shares of beneficial interest, par value $0.01 per share (the “Shares”) from time to time. The Company expects to acquire the Shares through open market or privately negotiated transactio…

Results of Operations and Financial Condition. On October 30, 2024 , National Storage Affiliates Trust (the "Company") issued an earnings release and supplemental schedules announcing its financial results for the quarter ended September 30, 2024. A copy of the earnings release and supplemental schedules are attached hereto as Exhibit 99.1 and is incorporated by reference herein. The Company will hold its third quarter 2024 earnings conference call on Thursday, October 31, 2024 at 1:00 p.m. E…

Director — Mark Van Mourick: The filing reports the resignation of a board trustee and the immediate election of a successor, which is a routine board composition change rather than the departure of a senior executive officer.

Results of Operations and Financial Condition. On August 5, 2024 , National Storage Affiliates Trust (the "Company") issued an earnings release and supplemental schedules announcing its financial results for the quarter ended June 30, 2024. A copy of the earnings release and supplemental schedules are attached hereto as Exhibit 99.1 and is incorporated by reference herein. The Company will hold its second quarter 2024 earnings conference call on Tuesday, August 6, 2024 at 1:00 p.m. Eastern Ti…

by reference. Following a specified lock up period after the July 1, 2024 closing date (the “ Closing Date ”) with respect to the transactions described under